saw $7.4 billion in outflows from his overall mutual fund business in July, cut in half from the massive outflows seen in June. But the most interesting thing about Pimco's
] numbers, The Wall Street Journal's
Min Zeng writes, is the $138 million in new cash flows that came into Pimco's equity funds last month. Zeng reports that most of the overall outflows came from bond funds, at $7.3 billion.
Zeng writes that investors appear motivated by fear of interest rates, not performance, when Pimco's Total Return Fund
and Pimco Investment Grade Bond Fund
, run by Gross mentee Mark Keisel
, gave a return of 0.49 percent and and 0.48 percent last month, respectively. It was a real turnaround from Kiesel's fund's 3.8 percent loss and Gross' fund's 2.6 percent loss in June, Zeng reports.
In the meantime, $40.3 billion has flowed into U.S. equity mutual funds and ETFs last month. To read more, click here
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