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Schwab drops Pimco Total Return Fund from its target date funds

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Brent Lewin | Bloomberg | Getty Images
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Charles Schwab has dropped the Pimco Total Return Fund from its 10 target date funds, a company spokeswoman told Reuters Thursday.

The firm completed its review of the fund this week, the spokeswoman said. Last Friday, Bill Gross, Pimco co-founder and manager of the fund, announced he left the firm to join Janus Capital Group.

Pimco's flagship fund suffered outflows of more than 10 percent of its net assets last month, the company announced Wednesday.

Read MorePimco executives: 'The firm is moving forward'

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