The Pimco Total Return Fund, launched by Bill Gross, has lost its title as the world's biggest bond mutual fund, following two years of withdrawals.
Pimco Total Return Fund
Investors yanked $7.3 billion from the Pimco Total Return Fund in March as Pimco's flagship fund continued to reel six months after the exit of co-founder Bill Gross.
Pimco's top investment officer said on Tuesday that "late decision makers" are largely behind a rush of withdrawals from its flagship bond fund some five months after the departure of longtime manager Bill Gross, but the outflows should taper off before long.
Charles Schwab Corp (SCHW.N) has dropped the Pimco Total Return Fund from its 10 target date funds and collective trusts, a company spokeswoman told Reuters on Thursday.
The Pimco Total Return Fund lagged behind 71% of its peers in February after rebounding from an annual loss of 1.92% last year, Reuters reported.
Pimco Total Return Fund, the biggest bond fund in the world, increased its US government-related holdings in December to 45% from 37% in November, Reuters reported.
After a mistaken bet on US Treasuries, assets of Pimco Total Return Fund sank by $41.1 billion last year, making it fund's worst showing in nearly two decades, Reuters reported.
Subscribe to VCpost newsletter
Most Popular
- American Millionaire Charged in Brutal Murders of Canadian Tycoon and His Partner in Dominica Denied Bail
- SSDI Payment April 2024: Who Will Receive Social Security Benefits Today?
- Where's My Child Tax Credit 2024: When to Receive My Money After April 15 Tax Filing Deadline?
- Tesla Spends $200,000 in Promoting Elon Musk's Social Media Platform X Following Mention of 'Minimal Advertising Efforts'
- Michigan Family Sues Wendy's for $20 Million After 11-Year-Old Girl Suffered Deadly E.Coli Infection
- Brazilian Woman Wheels Her Dead Uncle Into the Bank to Withdraw Loan in His Name
- Social Security Benefits: 2025 COLA Predicted to Increase Amid Rising Inflation
- Sheetz Convenience Store Accused of Racial Discrimination After Denying Employment of Black, Mixed-Race, and Native American Applicants