Wednesday, 02 April 2014 12:04 admin
Pimco Fund Sees March Outflow
Investors Drain $3.1 billion From Total Return Fund
“Investor’s pulled $3.1 billion from Mr. Gross’s Pimco Total Return Fund in March, marking the 11th consecutive month of outflows at the marquee fund for Pacific Investment Management Co.”
“Matt Reiner…said he has stopped investing new cash into the Pimco Total Return Fund since the start of the year. Instead, he has invested in bond exchange traded funds sold by Pimco’s rivals such as Vanguard Group, State Street Corp. and Black Rock, Inc.
Mr. Reiner said he would consider cutting exposure to Mr. Gross’s fund if U.S. bond yeilds rise or if Mr. Gross signals he would step down from running the fund. Mr. Reiner’s firm manages $1.3 billion in assets, including $30 million invested in Pimco Total Return Fund.”
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