Investors withdrew an estimated US$23.5 billion from the Pacific Investment Management Company (PIMCO) Total Return Fund in September.
“Of note, the largest daily outflow occurred on the day of Bill Gross’s resignation from the firm, while outflows on the two following days were considerably smaller,” according to a statement from the company.
The fund had US$221.6 billion in assets at the end of August.
PIMCO expects to keep most of its investors following the news that Gross had moved to Janus.
“As we engage our clients around the world, we are confident that the vast majority of them will continue to stand with PIMCO as we demonstrate why we have earned the reputation as one of the world’s premier investment managers,” says PIMCO.
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