Pimco may be turning corner on money outflows - CEO

The world's biggest bond fund, Pimco, may be about to end a net outflow of client funds that reached 22 billion euros ($30 billion) in the first quarter, its Chief Executive Douglas Hodge told a German newspaper. Parent company Allianz this month called upon the California-based asset manager to prove it can stem the outflows after they dented its own earnings. Pimco has been an abundant source of cash for Allianz for years but its performance has become a growing problem since the departure of its co-chief investment officer, Mohamed El-Erian, this year following a clash with Pimco founder Bill Gross.

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