Pimco fund redemptions slow

Bill Gross Interview Pic

Pacific Investment Management Co.’s biggest mutual fund suffered $9.5bn in withdrawals in November, the second full month after the surprise departure of former manager Bill Gross.

Bloomberg News reports that redemptions from the Pimco Total Return Fund slowed from a combined $51bn in September and October, according to a statement from the firm.

The redemptions, which started in May 2013, have reduced the world’s biggest bond fund to $162.8bn, from a peak of $293bn in April last year.

“We’re talking about investments again, investment themes, the future and what opportunities look like,” Scott Mather, one of three newly appointed managers of Total Return after Gross’s exit, said of client meetings in a telephone interview today. “We’re back to talking about that in almost every meeting, very little in terms of questioning events of a couple months ago.”

To access the complete Bloomberg News article hit the link below:

Pimco Total Return Withdrawals Slow to $9.5 Billion

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