[NEW YORK] Pimco Total Return, the world's largest bond fund,
suffered record large outflows in June, in a second straight month of
withdrawals amid carnage in the bond market that have reduced the fund's
assets by 8.5 per cent, data from Morningstar showed on Tuesday.
In June, investors pulled US$9.6 billion from the fund, which is managed by Bill Gross and is the flagship fund of Pacific Investment Management Co It was the fund's largest single month of outflows since Morningstar records began in 1993, the investment research firm said.
In May, investors pulled US$1.3 billion from the fund in May, which marked the first outflows since December 2011.
The fund's assets now stand at roughly US$268 billion, down from a peak of US$292.9 billion in April, Morningstar said. The fund's assets are at their lowest since June 2012, when they stood at US$263.4 billion, Morningstar said.
CW8888: Money flowing to where now?
In June, investors pulled US$9.6 billion from the fund, which is managed by Bill Gross and is the flagship fund of Pacific Investment Management Co It was the fund's largest single month of outflows since Morningstar records began in 1993, the investment research firm said.
In May, investors pulled US$1.3 billion from the fund in May, which marked the first outflows since December 2011.
The fund's assets now stand at roughly US$268 billion, down from a peak of US$292.9 billion in April, Morningstar said. The fund's assets are at their lowest since June 2012, when they stood at US$263.4 billion, Morningstar said.
CW8888: Money flowing to where now?
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