FYI: A change in how Pacific Investment Management Co. accounts for reinvested dividends and capital gains helped the bond manager minimize an exodus of clients by about $18 billion last year.
Pimco at the start of 2015 began counting such payouts as inflows, a departure from the way it used to report flows. The change, made as the Newport Beach, California-based firm was under pressure to stem a flood of redemptions following the departure of co-founder Bill Gross, has put a spotlight on a controversial issue among money managers -- what to count as new money.
Regards,
Ted
http://www.bloomberg.com/news/articles/2016-03-14/pimco-s-18-billion-question-what-should-count-as-new-assets
