Investors yanked another $5.6 billion from the Pimco Total Return Fund last month, down from withdrawals of $7.3 billion the previous month, Pimco said on Monday.
April's outflow, the 24th straight month of withdrawals, leaves the Pimco Total Return Fund's assets at $110.4 billion at end of April. That's down from $117.4 billion of assets at the end of March.
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With the report, Pimco officially ceded the title of largest bond fund to the Vanguard Total Bond Market Index fund, which had $117.3 billion in assets at the end of last month, according to Dow Jones and other media reports.
The Pimco Total Return Fund delivered a net after fee return of 1.62 percent in four months of year, outperforming its benchmark by 38 basis points, Pimco said.