"According to an article published today in the Wall Street Journal Pimco's Total Return Fund suffered a $7.5 billion net outflow last month, according to data from fund tracker Morningstar Inc.
It is the third straight monthly outflow for the fund, on the heels of nearly $10 billion in redemptions in June. Clients have made redemptions of $15.6 billion from Gross’s fund in 2013 through July.
Gross’s fund produced some gains in July after a quarterly loss during the second quarter. But the July outflow signaled continued investor anxiety over rising bond yields and falling prices.
The fund is still a laggard this year, hurt by a record quarterly loss of 3.6% between April and June. The fund was down 3.08% in 2013 through Thursday, compared to a loss of 2.84% on the benchmark index, according to Morningstar.
Fears that the Federal Reserve will soon cut back bond purchases have sent funds out of fixed-income assets over the past few months. The benchmark 10-year Treasury yield has risen about 1% since the start of May"
The benchmark 10-year Treasury yield has risen about 1 percentage point since the start of May.
