The Traderszone Network

Published in TZ Latest News 5 November, 2014 by The TZ Newswire Staff

Pimco’s Biggest Fund Had Record Redemptions on Gross Exit

Pacific Investment Management Co. had record redemptions from its biggest mutual fund in the first full month after the surprise departure of former manager Bill Gross, with clients pulling $27.5 billion in October. Half of those redemptions from the Pimco Total Return Fund (PTTRX) occurred in the first five trading days of October and they then “slowed sharply,” according to a statement from the Newport Beach, California-based firm yesterday.

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