Pimco Total Return Fund posts record $23.5 billion net outflow in September

[CityFarmer]

Benchmarking is important for investor, instead of focusing only on absolute return...

After pulling billions, former Pimco investors may not be better off

NEW YORK - When Bill Gross bolted Pimco in late September after months of mediocre performance in his Total Return Fund, clients including Wells Fargo & Co. WFC.N and Charles Schwab Corp SCHW.N pulled over $61 billion from the Newport Beach, California-based money manager. Where the money landed may be no better than where it left.

The reaction to Gross's sudden exit has put some money in rival bond funds that charge higher fees, produce lagging returns, have limited track records and in some cases, riskier holdings.

"Investors have made a knee jerk reaction away from Pimco, but in doing so they need to make sure that what they are buying is a better alternative," said Todd Rosenbluth, director of mutual fund research at S&P Capital IQ.

Some funds with very short track records have shown inflows that coincide with the Pimco money exodus.
...
http://www.todayonline.com/business/afte...-be-better

[CityFarmer]

Pimco new management team, is having a hard time to regain investor confidence. I saw pages of advert, even in The Edge Singapore...

New York City pension funds moved $4.9 billion out of Pimco in 2014

NEW YORK - New York City's pension funds last year pulled $4.9 billion from asset manager Pimco, the latest big investor to yank money from Pimco after the acrimonious exit of the firm's top bond investor, Bill Gross, in September

"The New York City Pension Funds recently transitioned out of $4.9 billion in Pimco accounts due to concerns over recent organizational changes," Eric Sumberg, a spokesman for New York City Comptroller Scott Stringer, said in a statement.

Gross shocked bond markets in September by leaving Pimco, which he co-founded, for smaller rival Janus Capital, where he now manages the Janus Global Unconstrained Bond Fund.

The assets pulled from Pimco by the city pension funds were distributed to the city's existing asset managers, Sumberg said.

Existing managers include BlackRock, Goldman Sachs and State Street, among others.
...
http://www.todayonline.com/business/new-...pimco-2014

[CityFarmer]

I didn't see the advert recently. It is either the target has been achieved, or has given up. I am more incline to believe Pimco is still struggling...

Pimco hires Bernanke as senior adviser

(Reuters) - Former Federal Reserve chairman Ben Bernanke is joining bond giant Pimco as a senior adviser, as the firm seeks to bolster its star power following the departure of co-founder Bill Gross.

The move may be questioned by some competitors who had criticized the Fed during Bernanke's reign for being too close to Pimco, whose full name is Pacific Investment Management Co. The critics suggested that could have potentially given the Newport Beach, California-based firm an advantage in interpreting monetary policy.

In an interview, Bernanke, who only last week announced he'd signed on to consult for the hedge fund Citadel, said he will restrict his Wall Street advisory roles to just the two firms. He also works at the Brookings Institution.

"I remain full time at Brookings. I am not an employee of either firm. I am an outside senior adviser," Bernanke, 61, told Reuters.

"This is it," he said. "There won't be anymore. They (Pimco and Citadel) prefer not having me consult too many firms and I personally think working with two firms will be plenty."
...
http://www.reuters.com/article/2015/04/2...QG20150429

[CityFarmer]

The fight has just begun...

Bill Gross sues Pimco for US$200m over forced ouster
09 Oct 2015 00:10
[NEW YORK] Famed bond investor Bill Gross has sued his former employer Pacific Investment Management Co and its parent Allianz SE for US$200 million, claiming he was wrongfully ousted by a "cabal" of executives who wanted his share of the bonus pool.

In a complaint filed on Thursday in the California Superior Court in Orange County, Mr Gross said Pimco managing directors were"driven by a lust for power, greed, and a desire to improve their own financial position and reputation" in an ultimately successful plot to drive him out.

Pimco spokesman Mike Reid declined to comment.
...
REUTERS

Source: Business Times Breaking News

[CityFarmer]

The very first test on PIMCO new team?

PIMCO says buying emerging markets; likes rouble, Mexican peso
04 May 2016 17:16
[LONDON] Asset manager PIMCO said on Wednesday it was time to actively engage in emerging markets again and highlighted the Russian rouble and Mexican peso as examples of assets that offered potential gains.
...
REUTERS

Source: Business Times Breaking News

[CityFarmer]

Investors pull $1 billion from Pimco Total Return Fund in May

NEW YORK - Investors pulled approximately $1 billion from the Pimco Total Return Fund, one of the world's largest bond funds, in May following cash withdrawals of the same amount the previous month, the Newport Beach, California-based firm said on Thursday.

Pimco said the Total Return Fund's assets under management stood at $86.1 billion as of month-end May, down from $87 billion as of the end of April and $89.9 billion at the end of 2015, Pimco said in a statement. The Pimco Total Return Fund hit a peak of $292.9 billion in assets under management in April 2013.

May's cash withdrawals from the Pimco Total Return Fund marks the portfolio's 37th month of consecutive outflows, according to Morningstar data.
...
http://www.todayonline.com/business/inve...n-fund-may