Pimco: Bill Gross Can't Hurt Us Anymore
Last year’s departure of Gross, Pimco’s co-founder, extended a record period of outflows from its funds, already battered by low interest rates and mediocre returns. Assets in the Pimco Total Return Fund, which Gross managed, have plunged to $101 billion from a high of $293 billion in April 2013. [...] “I think we have overcome the Bill Gross effect,” Wemmer said. “I think we are now in the tactical or strategic reallocation of monies by our customers.” [Bloomberg]