Global investment management firm Pacific Investment Management Company (Pimco) underperformed its peers last month, according to estimates by data tracker Morningstar, following internal strife at the company and the abrupt exit of CEO Mohamed El-Erian.
"Pimco was the only provider among the top 10 firms by assets under management that had outflows in February," Morningstar said in its U.S. open-end asset flows update late Wednesday.
Nontraditional bond funds - those that have strategies that don't follow conventional practices - saw some of the best inflows for the sector, according to the research firm. But it said that investors have "clearly moved away" from Pimco's Unconstrained Bond in favor of products from Goldman Sachs, BlackRock and JPMorgan.
In the high-yield arena, Pimco was also the standout laggard. Morningstar estimates show that Pimco's High Yield Fund bucked the trend of inflows for the category with investors withdrawing $510 million in February.
"The underperformance of the fund relative to its peer group is a new phenomenon that also worries investors," Bill Blain, a senior fixed income broker at Mint Partners told CNBC via email.