Shareholders are once again putting cash to work with Bill. But Jeffrey's similar performance pulled in three times the cash.

Investors appear to have accepted Bill Gross' apology. During the first quarter they pushed a net $1.7 billion into Pimco [profile] Total Return, reports Bloomberg based on Morningstar data.

The inflows were a bounce back from $3 billion of net outflows in the fourth quarter.

The first quarter inflows did fall short of the $2.3 billion in positive net flows during 2011's third quarter. The fund holds some $252 billion of AUM, making it the industry's largest.

Shareholders' renewed confidence in the fund followed Total Return's 2.9-percent gain during the first quarter. That gain put the flagship Pimco fund ahead of 97 percent of its peers, unlike last year when it lagged behind 69 percent of similarly managed funds.

That performance is similar to the 3 percent gain turned in by Jeffrey Gundlach's DoubleLine Total Return Bond Fund [profile] in the first quarter (which also beats 97 percent of rivals).

Yet the Gundlach and DoubleLine version of Total Return pulled in $6.4 billion of net flows, more than three times the flows into Gross' Total Return. 

Edited by: HFD


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