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Originally published Saturday, March 15, 2014 at 8:00 PM

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Pimco only Top 10 fund firm to have redemptions in February

Among the 10 biggest fund providers, Pimco has the highest concentration in fixed income, with more than 90 percent of its $1.91 trillion in assets in bond-related strategies.


Bloomberg News

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Bill Gross’ Pacific Investment Management Co. (Pimco) was the only provider among the top 10 U.S. mutual-fund families to suffer net withdrawals last month, according to a report from Morningstar.

Pimco’s mutual funds lost $2.49 billion to client redemptions in February, bringing net withdrawals to $56.1 billion in the past year, Morningstar estimated in the report.

Gross’ $236 billion Total Return Fund, the firm’s largest fund, had the heaviest redemptions in the industry, with a net $1.6 billion pulled last month, Morningstar said.

Among the 10 biggest fund providers, Pimco has the highest concentration in fixed income, with more than 90 percent of its $1.91 trillion in assets in bond-related strategies. The firm has been under pressure in the past 12 months amid underperformance by Total Return and withdrawals, as well as a leadership shake-up spurred by the announced resignation of CEO Mohamed El-Erian in January. Pimco Total Return Fund declined 0.4 percent in the past 12 months, trailing 81 percent of rivals.



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