Pimco Either Had An Ass Rippingly Bad Month For Outflows Or A Relatively Good One, Depending On How You Look At It
It's all a matter of perspective. (In related news, somewhere in Newport Beach, Bill Gross has himself a good cackle.)
On the one hand, $11.6 billion is a nice chunk of cheddar. On the other, it's a lot less cheddar than $19.4 and that's...something?
The abrupt departure of Bill Gross continues to haunt Pimco as the giant bond management firm on Tuesday disclosed that investors in January yanked $11.6 billion from the flagship fund that Gross previously oversaw. While the cash withdrawal from the Pimco Total Return Fund is a notable reduction from December's net outflows of $19.4 billion, outflows have been increasingly rising since Gross' exit on Sept. 26.
Investors pull $11.6 bln from Pimco Total Return Fund in January [Reuters]
