(Bloomberg) -- Pimco Total Return Fund, once the world's largest mutual fund under former manager Bill Gross, is within about $1 billion of being overtaken as the biggest actively run bond fund.

The fund's assets fell to $82.6 billion as of Oct. 31, the company said Wednesday on its website. That's a more than 70% drop from its peak in April 2013, as investors pulled money, and puts it within striking distance of being passed by the Metropolitan West Total Return Bond Fund, which by comparison has more than tripled in size over the past 3 1/2 years to $81.5 billion at the end of last month.

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