Investors took $3.1 billion out of Pimco’s largest bond fund in March alone, marking the 11th-straight month of losses, reports Reuters.
The fund’s performance is lagging 85% of its competitors, Reuters reports, due to some bad calls by the fund’s manager Bill Gross.
This year’s return has been 1.29% so far, coming in under its benchmark by 0.55 of a percentage point.
Since last May, investors have taken $52.1 billion out of Pimco’s income investing fund, bringing its assets to $232 billion.
A number of top Pimco executives have departed in recent months, due to reported tensions between Gross and staff.
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