Bill Gross’s exit from the investment firm Pimco had an immediate impact on the company, with investors withdrawing about $10 billion following the announcement, the Wall Street Journal reported, citing a person familiar with the matter.
Withdrawals were widely expected after the exit of Gross, one of the company’s co-founders, who announced his department on Friday. Gross had managed the $222 billion Pimco Total Return Fund, the world’s largest bond fund.
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