Among fixed-income managers not named Vanguard, PIMCO led the field in both net asset flows and market appreciation in 2017 through the end of April.
PIMCO's Income Fund, now the largest active fixed-income fund, acquired $9.5 billion in new client money alone in 2017. T. Rowe Price's New Income Fund was second with $3.6 billion in net asset flows. On the reverse, PIMCO's Total Return Fund, still shedding assets, bled $3.8 billion through April 30. Also notable, DoubleLine's Total Return Fund, once the mortgage-backed master of the active fixed-income universe, saw $3.1 billion walk out the door.
The PIMCO Income Fund also led its peer group in market appreciation, driven by its mortgage, government and asset-backed positions. PIMCO's Total Return Fund was third in market appreciation asset growth, adding $1.7 billion to client portfolios.