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Two Percent Of (Former) PIMCO Total Return Investors Don’t Care That Bill Gross Is Working His Ass Off Over Here

Bill Gross’s Pimco Total Return Fund had $5 billion in client redemptions last year as the world’s largest mutual fund trailed rivals, its first year of withdrawals in records going back to 1993, according to Morningstar Inc. Clients pulled $1.35 billion from the fund in December, according to Chicago-based research firm Morningstar. Pimco Total Return, managed by Gross out of Newport Beach, California, returned 4.2 percent in 2011, trailing 69 percent of peers, according to data compiled by Bloomberg…In an October letter to clients titled “Mea Culpa,” Gross called 2011 a “stinker” of a year [and swearing he was coming in early and leaving the office late]…Redemptions from Gross’s Total Return fund represent about 2 percent of the fund’s $240.7 billion in assets at the end of 2010, Morningstar’s data show. Assets rose to about $244 billion at the end of last year, according to the data. Investors pulled money from Pimco Total Return in 2011 even as taxable bond funds attracted $121 billion in deposits last year through Nov. 30, according to Morningstar. [Bloomberg, earlier]

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12 Responses to “Two Percent Of (Former) PIMCO Total Return Investors Don’t Care That Bill Gross Is Working His Ass Off Over Here”

  1. Guest says:

    Man you are one pathetic loser! No offense though.

    – John Paulson

  2. Lazard Championes says:

    Champions never loosen their ties.

  3. Sherman McCoy says:

    maybe you should grow back the mustache Bill? Or, lose the combover?

  4. Uninvited Guest says:

    It might help if your office didn't look like a scene from "Inception".

  5. HFguy says:

    Redemptions from Gross’s Total Return fund represent about 2 percent of the fund’s $240.7 billion in assets at the end of 2010, Morningstar’s data show.

    – Proof there are still plenty of rich idiots out there

  6. Guest says:

    I don't see a free candy sign here.

  7. Serious Comment Guy says:

    Cool story, although they didn't mention if the funds went to other PIMCO funds or not. Good time to reallocate from core fixed income.

  8. Macro Hedge says:

    PIMCO's assets increased last year to 1.35 T. They lost 5 billion from the Total Return fund as the herd moves to a new darling. The reality is that Gross returned 4.1% this year and his being crucified. No one likes the guy because he tells it like it is and gets a ton of air time. At the end of the day, the guy has created a phenomenal franchise. I wish my accounts were up 4.1 this year.

  9. whowhawhen says:

    You mean a $240B has become too unwieldy to manage properly?

  10. Kegels123 says:

    Managing so much money that you could give 2 shits if $5B leaves is the NKI

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