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Wednesday, October 21, 2015

Is Pimco Done Bleeding?

News summary by MFWire's editors

Pimco may still be suffering, but on a much smaller scale.

Douglas Hodge
Chief Executive Officer, Managing Director
Though the Newport Beach, California-based fixed income giant and Allianz subsidiary continues to suffer monthly outflows, which even ticked up slightly last month, the bleeding is a whole lot slower than it was not too long ago. Charles Stein of Bloomberg notes that in Q3 2015 Pimco's [profile] AUM only fell to $1.47 trillion, from $1.52 trillion at the end of Q2. That's just a 3.29 percent drop, which the wire service calls the smallest such percentage drop since co-founder and fallen bond king Bill Gross famously jumped ship last year.

Year-over-year, Pimco's AUM fell 21.8 percent.

A charter on page six of Morningstar's most recent monthly mutual fund flows data drives the point home. Pimco suffered about $5.42 billion in net mutual fund outflows in September. That's a bit higher than in August ($4.57 billion) and July ($4.56 billion). Yet it's way down from earlier in 2015: for the first quarter, each month Pimco's mutual fund outflows was about $10 billion or higher; and for the second, two of the three were in the $7 billion range.

On the flip side, Pimco is still suffering big outflows, accounting for about one-sixth of net active mutual fund outflows last month and topping the list in absolute terms. In percentage of AUM terms, Pimco was third in outflows. 

Edited by: Neil Anderson, Managing Editor

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