TCW’s MetWest gains early lead in race for Pimco assets: Morningstar
Money manager attracts $6.7 billion as Pimco's flagship bleeds: Morningstar.
A TCW Group Inc. bond fund is an early leader in the battle for assets fleeing Pimco.
The group’s Metropolitan West Asset Management unit brought over $6.7 billion into the MetWest Total Return Bond Fund (MWTIX) during October, Morningstar Inc. said Thursday.
That compares with the DoubleLine Total Return Fund (DBLTX), which had inflows of $2 billion, and the BlackRock Strategic Income Opportunities Fund (BASIX), with inflows of nearly $2.3 billion. The two are major competitors of TCW.
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MWTIX was also the top actively managed bond fund to win assets in September, according to Morningstar.
The gains came as Pimco lost significant assets in its flagship bond fund, Pimco Total Return (PTTAX), which stands at $170.9 billion. That fund saw a record $27.5 billion in redemptions last month, Pimco said this week.
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