Investors withdrew $23.5bn from the Pimco Total Return bond fund in September following the departure of star manager Bill Gross last month.
In a statement, Pimco confirmed that the largest daily outflow occurred on the day of Mr Gross’s resignation from the firm and noted that outflows on the following two days were “considerably smaller”.
Pimco sought to reassure investors that the fixed income market in which the Total Return fund invests is one of the most liquid markets in the world.
Pimco added: “Moreover, the fund is well positioned to meet potential redemptions. Short-term cash management is an area of expertise and strength at Pimco.”
The fixed income investor announced on September 26 that he had left Pimco to join Janus Capital, where he will manage its newly-launched Janus Global Unconstrained Bond fund.
