Connect with us

Hi, what are you looking for?

Jewish Business News


Mass Exodus From Pimco After The Departure of Bill Gross




Last week, Bill Gross made an abrupt departure from Pimco, which shocked Wall Street as much as the resignation for Mohammed El-Eran from Pimco earlier in the year. While Pimco has made stellar returns in past years, its recent performance has been weak, with investors pulling  $70 billion out of Gross’ Total Return Fund between May 2013 and August 2014.

Since Bill Gross announced on Friday he is leaving Pimco, investors have taken an additional $10 billion out of the fund. However, CEO Douglas Hodge is confident Pimco can survive without Bill Gross, and told Reuters that Gross “Does not define Pimco Over the last five years, we have expanded into far more parts of the fixed income market and into other asset classes and other geographies, so the Pimco Total Return Fund does not define us.” Concerning the exodus of clients, Hodge said he is explaining to investors that changes are being undertaken and he believes most investors will be patient and stay with Pimco; “With regard to our clients and the potential for outflows, when there is significant change was are communicating with our clients. We are talking with them and explaining the changes going on.”

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.