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Pimco’s giant Income fund suffers outflows

Pimco’s giant Income fund suffers outflows

The Pimco GIS Income fund experienced significant monthly outflows in February, as the giant strategy found itself unable to escape the wider market volatility.

Citywire data to the end of February indicates $860 million was withdrawn over the month from the Dublin-domiciled fund.

The Pimco GIS Income fund, which is co-run by Citywire AA-rated Dan Ivascyn and Alfred T. Murata, was showcased as the fastest-growing fund tracked by Citywire in 2017.

Over that timeframe, it had taken in an estimated $50.2 billion in assets, which helped to push overall assets in the strategy to $73.6 billion as of February 2018.

It is understood that the outflows are related to the wider market sell-off within Bonds – Global Flexible, which had proved to be one of the hottest sectors for fund buyers over the past year.

According to Citywire data, Bonds – Global Flexible was among the six sectors with the largest outflows in February, with a total of $667 million in net outflows over the calendar month.

The Pimco GIS Income is the Ucits version of the US-domiciled Pimco Income fund, also run by Ivascyn and Murata. This fund has $111 billion in assets and had $761 million of new money added over the course of February.

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