Investors withdrew $1.3 billion from the Pimco Total Return Fund last month as worldwide bond markets fell sharply, according to estimates by Morningstar Inc. of Chicago.
They were the first client withdrawals since 2011.
The $285 billion fund, the world’s largest mutual fund, dropped 1.9% for the month through May 30, the biggest monthly loss since September 2008, according to a report by Bloomberg.
The fund is managed by Bill Gross, managing director of Newport Beach-based Pacific Investment Management Co.
―Staff Report
