Pimco Total Return Fund Redemptions Slow to $7.3 Billion
Pimco’s Flagship Fund Suffers Outflows of $7.3B
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Redemptions at Pacific Investment Management Co.’s biggest mutual fund slowed for the third straight month as performance rebounded this year.
Investors pulled $7.3 billion in March from the Pimco Total Return Fund, down from redemptions of $8.6 billion in February and $11.6 billion in January, according to data from the Newport Beach, California-based firm. With assets of $117.4 billion, the fund narrowly hung on to its distinction as the world’s biggest bond fund. The Vanguard Total Bond Fund, which tracks an index, grew to $116.5 billion as of March 31, Vanguard Group spokesman John Woerth wrote in an e-mail.