Pimco estimates Total Return Fund outflows to exceed $23.5bn in September

Pimco's flagship Total Return Fund saw an estimated $23.5 billion in outflows in September, the investment firm said Wednesday.

Co-foudner and former chief investment officer Bill Gross announced on 26 September that he would leave the company.

"Of note, the largest daily outflow occurred on the day of Bill Gross's resignation from the firm, while outflows on the two following days were considerably smaller," the company said in a press release.

Pimco, which is owned be Allianz, said its Total Return Fund, "is well positioned to meet potential redemptions."