Bill Gross' Pimco Total Return fund has lost its position as the largest mutual fund in the world after investors pulled over 13% of assets from the fund since the summer.
Gross' fund - which has more than doubled in size between 2008 and 2012 according to Bloomberg - attracted $50.1bn in 2009 and $22.6bn in 2012, but has had a tough year in 2013 as investors turn away from fixed income. Bond markets have suffered a heavy sell-off after a monumental bull market that has spanned three decades. Investors are now concerned over the outlook for bonds, and with yields so depressed they have been looking to equities for returns instead. Bond funds across the globe have suffered as a result, with US mutual bond funds seeing redemptions of $117bn (£73bn) in ...
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