Bill Gross's Pimco Total Return Fund Suffers 15th Month of Outflows
Pimco's Bill Gross representing on the golf courseReuters

Bill Gross's Pimco Total Return Fund, the world's largest bond fund, has suffered 15 consecutive months of outflows, amounting to $65bn since May 2013.

The fund saw investors pulling out $830m in July alone, according to data from investment research firm Morningstar.

The outflows continued as the fund logged a negative 0.52% return in July, lagging 90% of its peers, Morningstar said.

Pimco's Total Return Fund is up 3.16% for the year as of 1 August, and trails 77% of its peers.

It had $223bn in assets at the end of July, down from a peak of $292.9bn in April 2013. In June this year the fund logged $4.5bn in net outflows.

US-based Pimco, a unit of European financial services firm Allianz, had $1.97tn in assets as of 30 June.

Gross, the co-founder of California-based Pimco, fielded questions from concerned investors at the company's annual investment summit in New York City in June, in attempts to make ammends for the the fund's performance. .

Pimco chief executive Douglas Hodge said in May 2014 that the firm was close halting the exodus of assets under management, which had hit €22bn in the first quarter.

Pimco's troubles began in January 2014, when Mohamed El-Erian suddenly quit as chief executive and co-chief investment officer. He was lined up as successor to so-called "Bond King" Gross.