It seems that many Pimco shareholders – Pacific Investment Management Co. – have decided to leave the bond fund after the surprise farewell of founder Bill Gross. The Wall Street Journal reported the indiscretion, noting that 10 billion dollars have already been withdrawn since Friday.
The group's number one Douglas Hodge attempted to reassure investors, stating that "the majority of customers will remain in Pimco". There will be high redemption rates, but then the situation will stabilize, assures the group's CEO, adding that Pimco "has ample liquidity to respond to any redemption by customers".
