PIMCO基金市場份額流失嚴重

Pimco has accounted for half of the 10 funds with the biggest outflows so far this year – bleeding more than $100bn – as rivals snatched market share from the world’s largest bond manager while it struggled to contain management infighting.

在今年迄今贖回規模最大的十隻基金中——贖回資金1000億美元以上——太平洋投資管理公司(PIMCO)旗下基金佔了一半。這家全球最大的債券管理公司在竭力遏制管理層內鬥的同時，被競爭對手搶走了市場份額。

Five of the 10 funds with the heaviest customer redemptions this year are run by the California company, and several more have suffered multibillion-dollar outflows. The data highlight how Pimco’s weak performance began before the resignation in September of founder Bill Gross and extends beyond the funds that he personally managed.

在今年客戶贖回規模最大的十隻基金中，有5只基金是由這家總部位於美國加州的資產管理公司管理的，此外該公司旗下還有多隻基金遭遇了數以十億美元計的贖回。數據突顯出，在其創始人比爾•格羅斯(Bill Gross)今年9月辭職之前，該公司就已表現不佳，而且表現糟糕的不僅僅是格羅斯個人管理的基金。

Mr Gross’s former Total Return and Unconstrained Bond funds top the list of biggest redemptions in 2014 so far, with Pimco funds investing in high-yield bonds, leveraged loans and equities also suffering heavy withdrawals.

格羅斯之前管理的Total Return基金和Unconstrained Bond基金，在2014年迄今贖回規模最大的基金中位列榜首，同時PIMCO旗下投資於高收益債券、槓桿貸款和股票的基金也遭遇了鉅額贖回。

The league table of US fund flows, by research group Morningstar, paints a stark picture of how savers have shifted money to other managers, led by Vanguard, MetWest and Goldman Sachs. It also reveals how longer-term trends in the mutual fund industry have continued to play out in 2014, including the vast asset accumulation of tracker funds from Vanguard, the low-cost market leader, and the decline of traditional active management funds by Fidelity and Capital Group’s American Funds.

由研究集團晨星(Morningstar)發佈的這份美國基金贖回榜單，突顯出儲戶是如何將資金轉向其他資產管理公司的——主要是先鋒集團(Vanguard)、MetWest和高盛(Goldman Sachs)。它還揭示出共同基金行業的一些長期趨勢在2014年是如何繼續演繹的，包括低成本市場領軍者先鋒旗下的追蹤型基金是如何積累起鉅額資產的，以及富達(Fidelity)和資本集團(Capital Group)美洲基金公司(American Funds)旗下傳統的積極管理基金的衰落。