Thankfully, past performance is no guarantee of future results. It’s just about the only solace Bill Gross (left) can take from the ongoing exodus PIMCO is experiencing.
Morningstar estimates that net outflow for the PIMCO Total Return Fund alone for August was $7.7 billion, or 2.9% of the $262 billion in assets it held at the end of July.
Total assets in the mutual fund, the world’s largest, at the end of August were $251 billion. Estimated year-to-date outflows are $23.3 billion, or 8.2% of year-end 2012 assets.
However, these figures do not include investment losses suffered by the fund. When factored in, Bloomberg puts total losses at 14% in just the past four months.