Pimco

Investors were hoping for commentary on the new administration's plans for fiscal stimulus and tax cuts.

In papers filed in state court in Orange County, California, Gross said Pimco's "misconduct" cost him substantial sums he earned and led to a "tarnishing of his stellar lifelong reputation."

The outflows in May leave the Pimco Total Return Fund, which lost its crown as the biggest bond fund in the world in April, with assets of $107.3 billion at month's end, Pacific Investment Management Co said on Tuesday.

Gross' position at Pimco had grown precarious in the months since El-Erian left. The firm's flagship fund, the Pimco Total Return Fund, run by Gross personally, was underperforming and bleeding assets through redemptions.

Investors worldwide pulled a net $10.1 billion out of stock funds in the latest week on aversion to risk assets in response to a pullback in US stock prices, data from a Bank of America-Merrill Lynch Global Research report showed on Friday.

The outflows from the fund, which is run by Pimco co-founder and chief investment officer Bill Gross, reduced the fund's assets to $232 billion.

Gross, who oversaw more than US dollar1.91 trillion in assets as of the end of last year and who is known on Wall Street as the 'Bond King', said in a phone call to Reuters last Friday: "I'm so sick of Mohamed trying to undermine me."

El-Erian, 55, had increasingly been Pimco's public face, appearing regularly on cable television and at industry conferences. Bill Gross, 69, who built Pimco over the course of decades into the colossus it is today, said two years ago that when he retired he expected El-Erian to take over.

PIMCO's bullishness on the rupee comes from belief that it is cheap considering its high yield and expectations of progress on domestic policy. The rupee, now around 54 per dollar, has been undermined by India's wide current account deficit and is down 18 percent since August 2011.

Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights. That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.

PIMCO's Bill Gross says he expects stocks and bonds to return less than 5 per cent in 2013, with the U.S. unemployment rate remaining at 7.5 per cent or higher.

Mohamed A El-Erian, CEO, PIMCO, said that he expects the third round of quantitative easing to happen.

Not long after the financial crisis hit in 2088, Pimco laid out a gloomy forecast for the years to come. Debt piled up over the boom years would drag down the US and Europe, straining government finances to the breaking point. Markets wouldn't rebound as quickly as in the past. Pimco believed the rules of the game had changed.

Investors were hoping for commentary on the new administration's plans for fiscal stimulus and tax cuts.

In papers filed in state court in Orange County, California, Gross said Pimco's "misconduct" cost him substantial sums he earned and led to a "tarnishing of his stellar lifelong reputation."

The outflows in May leave the Pimco Total Return Fund, which lost its crown as the biggest bond fund in the world in April, with assets of $107.3 billion at month's end, Pacific Investment Management Co said on Tuesday.

Gross' position at Pimco had grown precarious in the months since El-Erian left. The firm's flagship fund, the Pimco Total Return Fund, run by Gross personally, was underperforming and bleeding assets through redemptions.

Investors worldwide pulled a net $10.1 billion out of stock funds in the latest week on aversion to risk assets in response to a pullback in US stock prices, data from a Bank of America-Merrill Lynch Global Research report showed on Friday.

The outflows from the fund, which is run by Pimco co-founder and chief investment officer Bill Gross, reduced the fund's assets to $232 billion.

Gross, who oversaw more than US dollar1.91 trillion in assets as of the end of last year and who is known on Wall Street as the 'Bond King', said in a phone call to Reuters last Friday: "I'm so sick of Mohamed trying to undermine me."

El-Erian, 55, had increasingly been Pimco's public face, appearing regularly on cable television and at industry conferences. Bill Gross, 69, who built Pimco over the course of decades into the colossus it is today, said two years ago that when he retired he expected El-Erian to take over.

PIMCO's bullishness on the rupee comes from belief that it is cheap considering its high yield and expectations of progress on domestic policy. The rupee, now around 54 per dollar, has been undermined by India's wide current account deficit and is down 18 percent since August 2011.

Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights. That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.

PIMCO's Bill Gross says he expects stocks and bonds to return less than 5 per cent in 2013, with the U.S. unemployment rate remaining at 7.5 per cent or higher.

Mohamed A El-Erian, CEO, PIMCO, said that he expects the third round of quantitative easing to happen.

Not long after the financial crisis hit in 2088, Pimco laid out a gloomy forecast for the years to come. Debt piled up over the boom years would drag down the US and Europe, straining government finances to the breaking point. Markets wouldn't rebound as quickly as in the past. Pimco believed the rules of the game had changed.