PIMCO flagship Total Return Fund saw another month of net outflows.
According to new data from Morningstar, the fund managed by Bill Gross saw net outflows of around $US4.5 billion in June.
That’s the 14th straight month of net outflows for a cumulative total amount of $US64 billion.
Despite the outflows, PIMCO’s fund continues to be massive with $US225 billion in assets under management.
It’s worth nothing that outflows are not an industry-wide phenomenon. Competitor DoubleLine Funds, led by other bond king Jeff Gundlach, saw $US515 million in net inflows in June into its flagship Total Return Fund. Total assets for that fund were $US33 billion according to Morningstar.