PIMCO becomes best-selling active manager in H1 2017

Helped by CIO Ivascyn's fund

PIMCO has seen active fund inflows of almost $50bn in the first six months of the year, reversing mass outflows after the departure of Bill Gross in 2014.

According to data compiled by Morningstar for the Financial Times, the group saw new money primarily flow into the PIMCO Income fund, which is now $130bn in size and managed by Dan Ivascyn. Ivascyn replaced Gross as chief investment officer and his fund is now the world's largest actively managed bond fund. The PIMCO Income fund has returned 7.3% over one year to 28 July, according to FE, versus returns of 2.5% by the offshore Fixed Income USD sector. Gross sues PIMCO for wrongful dismissal However, the dominance of the strategy has raised doubts over whether the firm has too mu...