Bill Gross Exit Pushes Pimco Total Return To 17th Month Of Outflows

Investors pulled $23.5 billion from the Pimco Total Return Fund in September, hitting a peak on the day the fund's high profile manager, Bill Gross, said he would depart the firm, Pimco said Wednesday. The fund noted that most of the outflows occurred on Friday, and slowed in the following days. The fund has had 17 straight months of net withdrawals, totaling $92.3 billion, when combining the September withdrawals with Morningstar estimates from prior months. Nonetheless, Pimco said other funds had done better. "Investors have shown confidence in Pimco as evidenced by significant inflows into strategies such as the Pimco Income Fund , which has seen over $6.5 bln of net inflows year to date in 2014," a spokesperson for Pimco said in a statement.