Pimco had $5.5 billion leave U.S. mutual funds in April: Morningstar
NEW YORK (Reuters) - Pimco posted $5.5 billion in outflows across its U.S. open-end mutual funds in April, extending the company's record outflow streak to 11 straight months, data from Morningstar showed on Friday.
Investors have pulled $82 billion from the Newport Beach, California-based firm's U.S. open-end mutual funds since last June, according to Morningstar data.
Much of the latest month's outflows came from the firm's flagship Pimco Total Return Fund, which posted outflows of $3.1 billion last month, Reuters reported Thursday.
The outflows from the Pimco Total Return Fund, the world's largest bond fund with $230 billion in assets, marked the 12th straight month of investor outflows. The fund is run by Pimco co-founder and chief investment officer Bill Gross.
The Pimco Total Return Fund also continued its string of lackluster returns in April of 0.74 percent, trailing 68 percent of its peers, according to preliminary data from Morningstar.
Pacific Investment Management Co, a unit of European financial services company Allianz SE, had $1.94 trillion in assets as of March 31, according to the firm's website.
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