The flight from the Pimco Total Return Fund continued apace in April with investors withdrawing another $3.1 billion, the 12th straight month of outflows from the world's largest bond fund, run by Bill Gross.
The fund has now seen a total of $55.26 billion in net outflows since last May, according to Morningstar data on Thursday. The Pimco Total Return Fund had $230 billion in assets under management at end of April, down from a peak of $292.9 billion in April 2013.
April's pace of redemptions was even with the March withdrawal rate.
The Pimco Total Return Fund also continued its string of lackluster returns in April of 0.74 percent, trailing 68 percent of its peers, according to preliminary data from Morningstar.
The fund also trailed the benchmark Barclays U.S. Aggregate bond index's return of 0.84 percent for the month. Over the past 12 months, the fund has trailed the Barclays index by 1.45 percentage points.