Pimco Total Return ETF posts $53.9 million net outflows in May: Morningstar

NEW YORK (Reuters) - The Pimco Total Return Active Exchange-Traded Fund posted net outflows of $53.9 million in May, ending the month with $2.6 billion in assets under management, according to Morningstar data on Tuesday.

The Pimco Total Return ETF, an actively managed ETF designed to mimic the strategy of the flagship mutual fund, hit its peak in assets under management in April 2013 with $5.2 billion, Morningstar added.

Pacific Investment Management Co, which had assets under management of $1.59 trillion as of March 31, saw nearly $550 million in outflows in the two days following news of the departure on Sept. 26 of longtime manager Bill Gross.

Last month's cash withdrawals were the first monthly outflows of the year, Morningstar said, noting that year-to-date the Pimco Total Return Active ETF had $253 million of inflows collectively.

SPDR DoubleLine Total Return Tactical ETF , co-managed by widely followed investor Jeffrey Gundlach, had net inflows of about $182 million in May, according to ETF.com.

On a year-to-date basis, the Pimco ETF has outperformed 87 percent of its peer category, posting returns of 1.60 percent, Morningstar said as of Monday. But on a one-month and three-month period, the ETF has struggled: For the one-month return as of June 1, the portfolio was down 0.33 percent, trailing 65 percent of its peer category. On a three-month basis ending June 1, the Pimco ETF was down 0.84 percent, lagging 88 percent of its peer category, according to Morningstar.

Pimco declined to comment for this story.

(Reporting By Jennifer Ablan; Editing by Chizu Nomiyama and David Gregorio)

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