Pacific Investment Management Co., mutual fund investment and not so long ago the largest bond fund in the world, plans to reduce staff after the strong drawdown in terms of assets under management - based on AMarkets.
PIMCO assets sank by 21% to $ 1.5n trillion from when Gross left the company in September 2014. After that, the top management of the Fund decided to reduce staff, which currently stands at 2,400. PIMCO has not met the expectations of operating profit for the second quarter. When Gross worked at PIMCO, he was responsible for managing the largest pool of investment consisting of debt instruments. In April 2013, assets under management reached a record high of Gross of $ 293 billion. On August 31, 2015 Fund has reported on assets at $ 98.1 billion - the first time since 2007, the assets were below the level of $ 100 billion.
To date, the largest bond fund in the world - Vanguard Total Bond Market Index Fund with assets of $ 118.4 billion at the end of July 2015. This year the fund gained 0.5% profit - a better result than the 64% of the players on the market.