Investors pulled a net $150 billion from Pacific Investment Management ’s mutual funds in 2014, the largest annual exodus ever experienced by a mutual fund firm, according to preliminary figures Tuesday from fund research firm Morningstar.

In the final month of the year clients withdrew $26.7 billion, including about $18 billion from Pimco's flagship Total Return fund. That figure differs slightly from the $19.4 billion in December withdrawals from Total Return that Pimco disclosed Friday because of the way assets are counted.