03.12.201401:29:48UTC+00Outflow for Pimco Fund slows down to $9.5 billion

The withdrawals experienced by the Pimco Total Return Fund, the largest mutual fund for Pacific Investment Management Co., continued for the second full month in a row, but on a slower pace following the departure of manager Bill Gross.

Based on a statement made by Pacific Investment earlier today, $9.5 billion was withdrawn from the Pimco Total Return Fund in November, down from the $51 billion it lost in total during the months of September and October. Due to the stream of outflows that started in May 2013, the largest bond fund in the world has fallen from its peak of $293 billion in April 2013 to the current $162.8 billion.

Scott Mather, one of the fund’s three new managers after Gross exited the company, says that, “We’re talking about investments again, investment themes, the future and what opportunities look like. We’re back to talking about that in almost every meeting, very little in terms of questioning events of a couple months ago.”

According to research firm Morningstar Inc., Pimco’s performance will not be significantly hit until another batch of more than $350 billion is withdrawn by its retail and institutional clients. The Total Return Fund has since been taken by other mutual funds in the US and is now the third largest, based on data from Bloomberg.

The Fund has had a return of 0.82% during the past month and is currently performing better than 99% of other similar funds. Its 5% return for the year is also higher than 55% of its financial peers.