Another $50 Billion Gone In Redemptions At PIMCO

Pacific Investment Management Co. has suffered some of the biggest outflows among fund houses this year, with redemptions reaching more than $100 billion so far in 2014, the Financial Times reported. Investors yanked a net $48 billion from Pimco's mutual funds in October after the exit of its famed manager Bill Gross. Of the 10 funds with the heaviest redemptions year to date, five of them belong to Pimco, the FT said, citing Morningstar data. Gross's former Total Return and Unconstrained Bond funds top the list of biggest redemptions in 2014, and redemptions for the former are up to $75 billion so far in 2014, the FT reported.