Pimco CEO says client anxiety fading after star manager's departure

Pimco's chief executive officer said on Friday that improving flow trends showed the big bond firm is regaining client confidence after the departure of star manager Bill Gross last year led to billions of dollars of withdrawals. Outflows at the flagship fund once managed by Gross, Pimco Total Return, slowed to $2.7 billion in May, the smallest of any month since Gross left last September, according to the most recent data from Lipper, the Thomson Reuters unit. "We recognize that the organizational changes that have taken place at Pimco over the last 18 months have created change and created uncertainty and anxiety" among clients, CEO Douglas Hodge said at the Morningstar Investment Conference in Chicago.

Pimco CEO says client anxiety fading after star manager's departure source: http://finance.yahoo.com/news/pimco-ceo-says-client-anxiety-161453094.html