NEW YORK (Reuters) - Pacific Investment Management Co had $25.5 billion of net outflows across all of its U.S. open-ended funds in September, the bulk of them from its flagship fund, according to Morningstar data on Thursday.
Morningstar estimated net outflow for the flagship Pimco Total Return Fund of $17.9 billion in September, compared with the Newport Beach, California firm’s figure of $23.5 billion.
Morningstar said the firm estimates open-end fund net flows by computing changes in assets from one month to the next that are not explained by the performance of the funds.
“The fund’s actual flows may differ from Morningstar’s estimates for a variety of reasons, including the timing of actual purchases and redemptions versus our assumptions and the timing and type of dividend distributions, for example,” Morningstar said
Estimated net outflow for the Pimco Total Return ETF for September was $631 million, or 18 percent of August-ending assets of $3.6 billion, Morningstar said. Total assets in the fund at the end of September were $3 billion.
Morningstar also said estimated net inflows for the DoubleLine Total Return, a direct competitor of the Pimco Total Return Fund, at $1 billion in September. Total assets in the fund at the end of September were $35.6 billion.
Pimco is a unit of Germany’s Allianz SE (ALVG.DE).
(This version of the story was refiled to remove extraneous word from paragraph one)
Reporting by Jennifer Ablan; Editing by Steve Orlofsky; Editing by James Dalgleish