Pimco's Total Return Fund, the world's largest bond fund run by guru Bill Gross, had outflows of $9.6 billion in June—its biggest on record as bonds suffered a wide sell off, data from Morning star showed on Tuesday.
The outflows came after investors pulled $1.3 billion from the fund in May, which marked the first outflows since December 2011.
Will Bond Yields Rise in the Periphery?
Holger Schmieding, chief economist at Berenberg Bank, explains that despite increased tension in peripheral Europe, he is not too worried about bond yields rising.
The fund's assets now stand at $268 billion, down from a peak of $292.9 billion in April.
The Pimco Total Return ETF, meanwhile, had outflows of $511.5 million in June, its biggest outflows since inception in February 2012 and following its first-ever monthly outflows of $107.8 million in May.
The Double Line Total Return Bond Fund, the flagship fund of Double Line Capital run by Jeffrey Gundlach, had outflows of $1.2 billion last month, its first-ever monthly outflows since inception in April 2010.
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