Pimco's flagship fund, which was formerly the world's largest fixed income fund, suffered its 38th straight month of redemptions.
The American investment fund giant, controlled by the German insurance group Allianz, announced that its Total Return Fund recorded redemptions of approximately $800 million in May 2016.
A result that still represents an "improvement" compared to the redemptions of the previous month, when the amount had reached one billion dollars. Despite this, the difficulties Pimco is experiencing are hard to ignore.
It should not be forgotten that in September 2014, surprising everyone, Bill Gross, co-founder and investment director of the fund decided to "jump ship", switching to Janus Capital.
It should also be noted that the $86 billion fund fared worse than the rest of the bond market. When investors began leaving the Total Return Fund in 2013, coupled with a signal from the Federal Reserve that it would scale back its monetary easing program, the fund itself had $293 billion in assets under management.
