Bill Gross is a little depressed these days. It’s understandable: He’s getting divorced, his fellow countrymen elected a neo-fascist president, and worse still Janet Yellen is still destroying the economy, in spite of his repeated warnings. These are dark days, indeed, and Bill needs a pick-me-up, a sign that maybe things will work out.
Well, how’s this for a the kind of sign you’d like to see breaking out over the Pacific from your shower if you were Bill Gross: The mortal enemy with which you’ve made peace has staunched it’s Bill Gross-induced bleeding, while your remaining mortal enemycontinues to bleed out.
Pacific Investment Management Co.’s Total Return Fund, the flagship bond fund Mr. Gross ran until his 2014 ouster, had $348 million in net inflows in August, excluding reinvested dividends, a person familiar with the matter said.
The results snapped a streak of outflows that began in April 2013.
Jeffrey Gundlach‘s DoubleLine Total Return Bond Fund had net withdrawals for the 10th consecutive month in August.
Investors pulled $249.3 million last month, continuing a string of outflows that have hit the fund since last fall, according to Morningstar data.