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Sunday, 28 September 2014

Pimco sees $10 billion in withdrawals after Gross exit: WSJ

Bill Gross, co-founder and co-chief investment officer of Pacific Investment Management Company (PIMCO), adjusts his sunglasses as he arrives to speak at the Morningstar Investment Conference in Chicago NEW YORK (Reuters) - Bill Gross's exit from the investment firm Pimco had an immediate impact on the company, with investors withdrawing about $10 billion following the announcement, the Wall Street Journal reported, citing a person familiar with the matter. Withdrawals were widely expected after the exit of Gross, one of the company's co-founders, who announced his department on Friday. Gross had managed the $222 billion Pimco Total Return Fund, the world's largest bond fund. ...








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