PIMCO flagship Total Return Fund continues to see net ouflows each month.
According to new data from Morningstar, the fund managed by Bill Gross saw net outflows of around $US3.12 billion in April.
That’s the 12th straight month of net outflows for a cumulative total amount of $US55.26 billion.
For investors, however, the top concern continues to be performance. And PIMCO just isn’t delivering.
According to Morningstar, the fund’s performance trails 68% of its peers.
Outflows are not an industry-wide phenomenon. Competitor DoubleLine Funds, led by other bond king Jeff Gundlach, saw $US442.5 million in net inflows in April with the flagship Total Return Fund pulling in $US319.5 million.
With the bond market seeing a bit of bid lately, maybe Gross’s fund will finally see things turn around.
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