(Bloomberg) -- The Pimco Total Return Fund suffered an estimated $27.5 billion of withdrawals in its first full month after the Sept. 26 departure of Bill Gross, its worst month ever for redemptions.
The October redemptions surpassed the $23.5 billion reported in September, according to a statement from Newport Beach, California-based Pacific Investment Management today. Half of the withdrawals occurred during the first five trading days of October and slowed sharply thereafter, Daniel Tarman, a Pimco spokesman, said in the statement. The worlds biggest bond mutual fund now has $170.9 billion in assets, from a peak of $293 billion in 2013.
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