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Mutual Funds Center

As PIMCO bleeds assets, Gross shows risk of star culture

Reuters Bill Gross' exit from Pimco has seen billions of dollars leave the fund group and even more value wiped off the share price of its parent company, offering a warning both to firms who rely on star managers and the investors who chase them. Gross's flagship Pimco Total Return Fund (PTTRX.O) lost money every month from May last year, totalling nearly $70 billion (£43.17 billion) by the end …

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