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Pimco Total Return sees further $27.5bn outflows

Investors pulled $27.5bn (£17.2bn) from Pimco’s flagship Total Return Fund in October as the fund continued to be hit in the wake of founder Bill Gross’s exit.

The Financial Times reports half of the outflows occurred during the first five days trading of the month.

It marks the 18th consecutive month of outflows from the Total Return Fund.

A spokesman for Pimco says: “Flows from the Total Return Fund peaked on 26 September, and slowed sharply throughout October. October performance of +0.8 per cent after fees was in line with the Total Return Fund’s peer group.

The sell-off last month compounds the $23.5bn in outflows in September, when it was announced that Gross was leaving for Janus Capital.

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