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Rating:Bill Gross Sees First Outflows in Two Years
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Friday, December 10, 2010

Bill Gross Sees First Outflows in Two Years

News summary by MFWire's editors

Bill Gross' $256 billion Pimco Total Return [see profile], lost some of its luster last month as investors pulled $1.9 billion from the mutual fund, Morningstar reports. This was the fund's first month of net outflows in two years.

The fund's outflows mirrored that of the Morningstar Intermediate-Term Bond Category, which saw $154 million in outflows in November. This was also the category's first month of net outflows in two years.
Gross reportedly said earlier this year that "bonds have seen their best days".

The Pimco Total Return fund reportedly dropped lost 1.5 percent last month , its worst month since September 2008. By comparions, the Barclays Capital U.S. Aggregate Bond Index decliend 0.57 percent in November.

InvestmentNews and Bloomberg also picked up on the fund's outflows.  

Edited by: Hung Tran


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