Pimco Total Return Lost $5 Billion to Withdrawals Last Year
January 05, 2012, 9:14 AM ESTBy Sree Vidya Bhaktavatsalam
Jan. 3 (Bloomberg) -- Bill Gross’s Pimco Total Return Fund had $5 billion in client redemptions last year as the world’s largest mutual fund trailed rivals.
Clients pulled $1.35 billion from the fund in December, according to Chicago-based researcher Morningstar Inc. Pimco Total Return, managed by Gross out of Newport Beach, California, returned 4.2 percent in 2011, trailing 69 percent of peers, according to data compiled by Bloomberg.
--Editor: Christian Baumgaertel
To contact the reporter on this story: Christian Baumgaertel in sree at cbaumgaertel@bloomberg.net
To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net
