News

Gross' departure hits PIMCO

Tuesday 31st of March 2015

Morningstar data shows PIMCO suffered outflows of US$176 billion worldwide last year, or 26% of its 2013 assets.


Gross announced he would leave the firm to take up a role at Janus Capital Group. Morningstar said that sent a shockwave through the investment world and prompted unprecedented outflows from PIMCO.

Outflows from PIMCO Total Return amounted to $96.1 billion in the space of only five months.

PIMCO’s lost benefited other funds in the intermediate-term bond category. TCW enjoyed consistent inflows to Metropolitan West Total Return Bond MWTIX, and Dodge & Cox Income DODIX attracted significant amounts of investor money.

The Morningstar data shows Vanguard is the biggest asset manager in the world with almost $3 trillion in assets.

“With a wide variety of accessible investment options, the ability to capitalise on economies of scale, and a philosophy of passing the results of efficient operations to its investors in the form of lower costs, Vanguard has built a solid reputation and continues to attract the highest flows,” Morningstar said.

Comments (0)
Comments to GoodReturns.co.nz go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved.