PIMCO Total Return loses status as world's biggest bond fund

The PIMCO Total Return fund has fallen in the rankings of world's largest bond fund, replaced by Vanguard's Total Bond Market Index fund.

The fund was previously run by PIMCO founder Bill Gross (pictured) who dramatically left the firm in September 2014. It is now run by Mark Kiesel, Scott Mather and Mihir Worah but has seen significant outflows since Gross' exit.  At the time of Gross' departure in September, the fund was $221bn in size. That has now fallen to $110bn as at end of April. Outflows during April were estimated to be $5.6bn, according to the company, meaning the fund is no longer the largest bond fund in the world. This title is now held by passive specialist Vanguard, whose Vanguard Total Bond Market...