Last week Bill Gross quit PIMCO - the firm he founded - to join Janus Capital in a move which had ramifications for many investors. Now as outflows on his PIMCO Total Return fund mount, where should investors turn?
Gross' surprise exit last week caused jitters across bond markets after he announced plans to set up at rival Janus Capital. Investors who had been fleeing his funds for the past 18 months picked up the pace, with a record $23.5bn of net outflows in September. While his main investor base is in the US, many UK investors will also have held positions in his funds, including the $200bn PIMCO Total Return bond fund - still the world's largest such portfolio. So where should investors turn? Darius McDermott, managing director of Chelsea Financial Services, has highlighted four funds he...
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