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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Comments (12)

  1. Posted by Guest | January 3, 2012 at 9:47 PM

    Man you are one pathetic loser! No offense though.

    – John Paulson

  2. Posted by Lazard Championes | January 3, 2012 at 10:09 PM

    Champions never loosen their ties.

  3. Posted by Sherman McCoy | January 4, 2012 at 1:59 AM

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

  4. Posted by Uninvited Guest | January 4, 2012 at 2:43 AM

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

  5. Posted by HFguy | January 4, 2012 at 5:30 AM

    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. Posted by Guest | January 4, 2012 at 8:29 AM

    I don't see a free candy sign here.

  7. Posted by Serious Comment Guy | January 4, 2012 at 8:48 AM

    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. Posted by Macro Hedge | January 4, 2012 at 10:06 AM

    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. Posted by whowhawhen | January 4, 2012 at 10:27 AM

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

  10. Posted by John Paulson | January 4, 2012 at 10:45 AM

    It's not all about returns.

  11. Posted by Kegels123 | January 4, 2012 at 10:52 AM

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

  12. Posted by Jimmy | January 4, 2012 at 5:25 PM

    No HFRI index beat Pimco Total Return over the last 5 years.