Pimco Suffers Record $9.6 Billion Outflow in June
Pimco's Total Return Fund, the world's largest bond fund run by guru Bill Gross, had outflows of $9.6 billion in June—its biggest on record as bonds suffered a wide sell off, data from Morning star showed on Tuesday.
The outflows came after investors pulled $1.3 billion from the fund in May, which marked the first outflows since December 2011.
The fund's assets now stand at $268 billion, down from a peak of $292.9 billion in April.
The Pimco Total Return ETF, meanwhile, had outflows of $511.5 million in June, its biggest outflows since inception in February 2012 and following its first-ever monthly outflows of $107.8 million in May.
The Double Line Total Return Bond Fund, the flagship fund of Double Line Capital run by Jeffrey Gundlach, had outflows of $1.2 billion last month, its first-ever monthly outflows since inception in April 2010.