NEW YORK (Reuters) - The Pimco Total Return Fund, the world’s largest mutual fund run by Bill Gross, had outflows of $5.4 billion in September, marking the fifth straight month of outflows from the fund, Morningstar data showed on Wednesday.
The outflows lowered the fund’s assets to $250 billion, the Chicago-based Morningstar said. The latest outflows were the lowest since May, and were down from withdrawals of $7.7 billion in August.
Gross, a co-founder and co-chief investment officer at Pimco, runs the flagship fund. The Pimco Total Return Exchange-Traded Fund, meanwhile, had outflows of $220.3 million last month, marking the fifth straight month of outflows from the ETF.
Pacific Investment Management Co., a unit of European financial services company Allianz SE, had $1.97 trillion in assets as of June 30, according to the firm’s website.
Reporting by Sam Forgione