Pimco’s flagship Total Return Fund is no longer the world’s largest bond fund.
In a statement on Monday, the company said monthly net outflows continued to decline in April, and it saw $US5.6 billion walk out the door. That brought the asset under management in fund, once run by Bill Gross, down to $US110.4 billion.
Meanwhile, Vanguard Total Bond Market Index Fund had $US117.3 billion as at April 30, according to preliminary data cited by Bloomberg.
Pimco’s fund had suffered months of outflows before Bill Gross left the firm last year, and even after. Analysts blamed lackluster performance.