A Reuters report quoted Pimco Co-Founder and Co-Chief Investment Officer Bill Gross as saying "I'm so sick of Mohamed trying to undermine me" but a Pimco spokesman denied Gross made the statement, Reuters reported.
Breaking News
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's Chief Executive and Co-Chief Investment Officer and long viewed as heir to Co-Founder Bill Gross, Mohamed El-Erian will be leaving the world's largest bond fund manager in mid-March, 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.
According to a data shown by fund research firm Morningstar, PIMCO Total Return Fund marked its weakest monthly performance last June.
Pimco Total Return Fund of Bill Gross recorded US$9.9 billion withdrawals due to Federal Reserve's scaling back of its own purchases.
The PIMCO Total Return Fund lowered its holdings of US Treasuries and mortgage debt in February as shown in the fund's website on Monday.
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