Bill Gross leaves - money follows

About Bill Gross leaving PIMCO: money is following.  From the Wall Street Journal and CNN:

Billions Fly Out the Door at Pimco
About $10 Billion Is Withdrawn After Departure of Gross

Pacific Investment Management Co. suffered roughly $10 billion of withdrawals following the Friday departure of co-founder Bill Gross, a person familiar with the matter said, a sign of how quickly Mr. Gross's surprise move is reshaping the bond-investing landscape.

Pimco is bracing for more outflows on the heels of the veteran investor's departure after months of internal strife over his leadership...
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Link: http://online.wsj.com/articles/billions-fly-out-the-door-at-pimco-1411948188


Bill Gross exit could cost Pimco $400 billion

According to Morgan Stanley (MS), investors could yank a whopping $400 billion of assets from Pimco following the surprise exit of Gross on Friday.

Morgan Stanley based that huge figure on the 6% drop in the share price of Pimco parent Allianz (ALIZF). The investment bank said in a report Monday that implies a loss of around 20% of the Pimco's total assets.

Pimco and Allianz executives scrambled over the weekend and on Monday to soothe nervous clients and analysts after Gross shocked the financial world by leaving the firm he founded in 1971 for Janus Capital (JNS).

Gross directly managed about $300 billion of assets, although Morgan Stanley estimates he had "influence" over around $500 billion...
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Link: http://money.cnn.com/2014/09/29/investing/pimco-bill-gross-outflows-janus/index.html?