MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, August 28, 2003 American Funds Takes Top Spot from Pimco New flows into the Pimco Total Return fund reversed direction in July. The fund saw total redemptions of $834 million in the month, according to Lipper. That marks the first time since December 2001 that investors pulled money from the fund on a net basis. At that time the fund saw $121 million of redemptions. That investors are redeeming assets from the fund should come as little surprise. Not only has the bond market whipsawed investors in recent months, fund manager William Gross has also said that bond prices may have peaked for now. Meanwhile, FRC had ranked the fund as the best seller in the industry for the first six months of 2003. The July outflows pushed that ranking down to fourth, behind Growth Fund of America, Capital Income Builder and Income Fund of America. Each of those three funds is sponsored by American Funds. Printed from: MFWire.com/story.asp?s=5737 Copyright 2003, InvestmentWires, Inc. All Rights Reserved |