Finance

PIMCO's Flagship Fund Sees Its 17th Straight Monthly Outflow, And It Was Massive

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PIMCO, Morningstar, Business Insider

PIMCO's flagship Total Return Fund saw a breath taking $23.5 billion in net outflows in September.

"Of note, the largest daily outflow occurred on the day of Bill Gross’s resignation from the firm, while outflows on the two following days were considerably smaller," PIMCO said in a press release.

That was the 17th straight month of net outflows for a cumulative total amount of about $92 billion.

All of this is part of the legacy that CIO Bill Gross leaves behind as he heads to Janus Capital.

PIMCO has attracted a lot of attention in recent months, largely because of the unexpected departure of CEO Mohamed El-Erian and revelations of Gross's unorthodox management style.

Despite the outflows, PIMCO's fund continues to be massive with roughly $200 billion in assets under management.

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Sam was a deputy editor at Business Insider, where he led the site's global coverage of markets. He previously served as an equity analyst for the Forbes Special Situation Survey and Forbes Growth Investor equity newsletters. His work has been published in Forbes, DealBreaker, and The Fiscal Times. Sam has also held positions at James F. Reda & Associates, Brown Brothers Harriman, and Paul Weiss. He has a bachelor's degree in religion from Boston University, and he is a CFA charterholder.