Investors pulled cash from the Pimco Total Return Fund for a 16th straight month in August despite some improvement in performance for the world’s largest bond fund. The fund, run by Bill Gross, had net outflows of $3.9 billion in August, which brings the Total Return Fund’s net cash withdrawals to almost $70 billion since May 2013, Morningstar said on Wednesday. It had $221.6 billion in assets at the end of last month, down from a peak of $292.9 billion in April 2013. The continuation of the fund’s record outflow streak came as it posted a positive 1.11 percent return in August, surpassing 77 percent of its peers, according to Morningstar. That said, the fund is up 4.31 percent for the year as of Friday and trails 73 percent of its peers.