Pimco loses biggest fund crown

Bill Gross’s Pimco Total Return Fund had outflows of $4.4bn in October, stripping it of its status as the world’s largest mutual fund, data from Morningstar showed yesterday. The outflows lowered its assets to $248bn, according to Morningstar data. The Vanguard Total Stock Market Index now holds the title of world’s largest mutual fund with $251.1bn.