Pimco Total Return Fund suffers $7.5 billion outflow in July: Morningstar

NEW YORK Fri Aug 2, 2013 12:50pm EDT

NEW YORK (Reuters) - Bill Gross's Pimco Total Return Fund, the world's largest mutual fund, suffered an outflow of $7.5 billion in July after investors pulled a record sum from the fund in June, data from Morningstar showed on Friday.

The July number was down from a record monthly outflow of $9.6 billion in June, according to Morningstar, but still marked the third straight month of withdrawals from the fund, which now has roughly $262 billion in assets.

Overall, investors have pulled roughly $18.4 billion from the Pimco Total Return Fund over the past three months. The fund is down 3.08 percent this year, above 25 percent of peers, Morningstar said. The fund was up 0.49 percent in July.

Investors also pulled about $137 million from the Pimco Total Return Exchange-Traded Fund (BOND.P) in July, after a June outflow of $512 million. The ETF, which now has roughly $4.2 billion in assets, is down 2.4 percent this year.

The DoubleLine Total Return Bond Fund (DBLTX.O) run by Jeffrey Gundlach, meanwhile, suffered an outflow of $580 million in July after seeing its first monthly outflow, of $1.2 billion, in June, Morningstar data showed.

The fund is down 0.926 percent for the year, ahead of 93 percent of peers, Morningstar said. The fund fell 0.22 percent in July, an improvement after declining 1.74 percent in June.

(Reporting by Sam Forgione; Editing by Nick Zieminski and Phil Berlowitz)

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