Description: Pacific Investment Management Co.’s main exchange-traded fund saw outflows of $10.9 million the day before the surprise departure of Bill Gross, who co-founded and served as chief investment officer of the world’s biggest manager of bond mutual funds.

Source: Bloomberg.com

Date: Sep 27, 2014

Link: http://www.bloomberg.com/news/2014-09-27/pimco-etf-suffers-10-9-million-of-outflow-on-gross-exit.html

Questions for Discussions:

• How have investors reacted to the change in top management?
• What changes do you think have influenced perceived risk?