PIMCO’s Total Return Fund suffered a $7.5 billion outflow in July after a record $9.6B outflow in June, according Morningstar.
Those kind of redemptions would be devastating for for any fund that wasn’t the biggest in the world. Heck, anyone would be set for life getting 2 & 20 on a $1B fund for a few months.
In any case, it’s a bad sign for bonds and explains why Bill Gross has been looking so ragged.