PIMCO sees further $19.4bn outflow from former Gross fund

The PIMCO Total Return Bond fund reported $19.4bn in outflows last month as redemptions accelerated again as the year drew to a close.

The fund, which has now suffered 20 consecutive months of redemptions, saw outflows accelerate as of September last year following the shock departure of former manager Bill Gross (pictured). Gross left to join Janus Capital, prompting a investors to pull $23bn from the fund in September and a record $27bn in October. Outflows of $9.5bn in November suggested the bulk of the redemptions were behind PIMCO, but December's figure suggests a different story. The fund has shrunk from a peak of $293bn as of June 2013, when it ranked as the world's lar to $143bn as of 31 December. The p...