PRESS DIGEST- Financial Times - May 25
May 25 The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
(Adds performance data, aggregate outflow figure)
By Sam Forgione
NEW YORK, April 1 The Pimco Total Return Fund, the world's largest bond fund, posted $3.1 billion in outflows in March, extending the fund's record outflow streak to 11 straight months, data from Morningstar showed on Tuesday.
The outflows from the fund, which is run by Pimco co-founder and chief investment officer Bill Gross, reduced the fund's assets to $232 billion.
Investors have pulled $52.1 billion out of the fund since May, according to Morningstar data. Investors pulled $41.1 billion from the fund in 2013 alone, which marked the largest annual outflows from any U.S. mutual fund on record, according to Morningstar data.
Investors have pulled cash out of the fund partly on lagging performance. The fund was down 0.57 percent in March, trailing 95 percent of its peers, according to preliminary data from Morningstar. For the year, the fund has returned 1.294 percent, trailing 85 percent of its fund peers.
Pacific Investment Management Co., a unit of European financial services company Allianz SE, had $1.91 trillion in assets under management as of Dec. 31, according to the firm's website. (Reporting by Sam Forgione; Editing by Diane Craft)
SAN FRANCISCO, May 24 A California-based workers advocacy group released a report on Wednesday saying that Tesla Inc data showed its workers have been injured at a rate a third higher than the auto industry average.
* Priced underwritten registered public offering of 4.4 million shares of its class A common stock at $27.95 per share Source text for Eikon: Further company coverage: