Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

Bill Gross isn't the only bond manager losing assets

Bill Gross
Andrew Harrer | Bloomberg | Getty Images

The new year has not been kind to Bill "Bond King" Gross, but he is not alone.

His massive fixed income-focused investment manager Pimco has lagged performance benchmarks, the culture of the firm has come under scrutiny since the departure of CEO Mohamed El-Erian and more than $5 billion has already been pulled by investors in January and February alone.

While Pimco has shed assets both in 2014 and over the last year, the Newport Beach, Calif., firm has plenty of company. Many of the most prominent bond mutual funds have lost billions of dollars in assets over the last year, including those managed by DoubleLine Capital, JPMorgan Chase, American Funds, Vanguard Group and Fidelity Investments, according to data estimates from Morningstar.