Money exits Pimco

|By:, SA News Editor

A nice bull move in fixed-income wasn't a help for Pimco, which saw $2.5B in outflows in February, making it the only one among the top 10 asset management firms to see an exodus of cash. The Gross/El-Erian soap opera isn't helping, but neither is weak performance. Notably losing money was Pimco's High Yield Fund which saw $510M leave while its competitors racked up gains.

Bill Gross' Total Return Fund (ETF equivalent: BOND) saw $1.6B in outflows in February to add to $3.5B in January, not to mention last year's big exits.

Pimco is owned by Allianz (AZSEY +0.5%).