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Rating:Bonds Out, Equities In at Pimco Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 07, 2013

Bonds Out, Equities In at Pimco

News summary by MFWire's editors

Bill Gross 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 [profile] 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

Edited by: Casey Quinlan

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