PIMCO Bleeding Without Bill Gross

From Fox Business:

Officials at mutual fund giant  Pacific Investment Management Co., are discussing layoffs amid a sharp decline in assets over the past year that followed the ouster of co-founder Bill Gross, the FOX Business Network has learned.

Pimco, based in Newport Beach CA., has lost nearly 25% of its total assets since March of 2014, and investor withdrawals continued following the September 2014 departure of Gross, who also ran the firm’s vaunted Total Return Fund (PTTRX)—known for its massive size and a history of outsized returns that abated during Gross’s last year at the firm...

...as of August 31, the total return fund reported assets under management of $98.1 billion—the first time the fund has fallen below $100 billion in assets since 2007.

Since Gross left the company, overall assets have fallen nearly 21% to $1.5 trillion...
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Link: http://www.foxbusiness.com/investing/2015/09/08/pimco-bleeding-without-bill-gross-layoffs-loom/