Sept. 30 (Bloomberg) -- Withdrawals from a Pacific Investment Management Co. exchange-traded fund that was run by Bill Gross slowed yesterday after record redemptions the day the star trader left.
Investors pulled about $98 million from the Pimco Total Return ETF, according to data available on Pimco’s website that shows adjusted shares outstanding. That followed a record $446.5 million withdrawal on Sept. 26 as Gross announced his sudden departure from the firm he co-founded to join Janus Capital Group Inc.
The $3 billion ETF, which follows a similar investment strategy as Newport Beach, California-based Pimco’s flagship $222 billion mutual fund, has lost 0.2 percent since Sept. 25. Gross had overseen the fund since its March 2012 inception.
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