A brutal 2022 for bonds delivered the worst year ever for Pacific Investment Management Co.’s exchange-traded fund business. Investors pulled nearly $3.6 billion from over 20 Pimco and Allianz-branded funds, the biggest cumulative outflow ever for the asset manager, Bloomberg data show. That exodus also ranked as the largest among US issuers in 2022, a year when ETFs absorbed over $580 billion of inflows overall. Volatility rocked Newport Beach, California-based Pimco’s bond-heavy ETF lineup in 2022 as a historically aggressive Federal Reserve attempted to combat the worst US inflation in four decades. While ... (full story)