Pimco Total Return Fund suffers 16th month of outflows

Investors pulled cash from the Pimco Total Return Fund for a 16th straight month in August despite some improvement in performance for the world's largest bond fund. The fund, run by Bill Gross, had net outflows of $3.9 billion in August, which brings the Total Return Fund's net cash withdrawals to almost $70 billion since May 2013, Morningstar said on Wednesday. The continuation of the fund's record outflow streak came as it posted a positive 1.11 percent return in August, surpassing 77 percent of its peers, according to Morningstar. Analysts have said cash outflows began last year due to weak returns;

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