Pacific Investment Management Co.’s biggest mutual fund suffered about $19.4 billion in withdrawals in December, the 20th straight month of redemptions, capping a year that included the surprise departures of Bill Gross and Mohamed El-Erian.
Redemptions from the Pimco Total Return Fund (PTTRX) in 2014 were at a scale rarely seen in the mutual fund industry, reducing assets in the world’s biggest bond fund by more than half to $143.4 billion, from a peak of $293 billion in April 2013. Pimco Total Return Fund had about $105 billion in investor withdrawals in 2014, the biggest redemption in any mutual fund in the U.S, according to data compiled by Bloomberg using information from Newport Beach, California-based Pimco and Morningstar Inc.
Mary Childs | Bloomberg