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Friday, September 26, 2014

Gross Jumps

Reported by Neil Anderson, Managing Editor

Bill Gross is going to Janus [profile]! The Pimco [profile] bond fund king is about to jump from the ship he built.

MFWire could not immediately reach a Pimco spokesperson for comment on the departure of Gross.

This morning Dick Weil, CEO of Janus, confirms that on Monday the most famous bond fund investor in the world will join the Denver-based mutual fund firm. Yet Gross will remain in Newport Beach, California, in a to-be-established Janus office there. His mandate will be to manage the Janus Global Unconstrained Bond Fund (sounds like Pimco Total Return all over again, right?), effective October 6. And Gross will also team up with other Janus team members, including Nobel Laureate Myron Scholes and Ashwin Alankar , on global asset allocation.

Janus is positioning Gross' move as "complementary" of the credit-based fixed income platform built up under Janus' current fixed income chief investment officer, Gibson Smith.

"With Bill leading our global macro efforts and Gibson our credit-based fixed income team, I am confident Janus will be able to meet the needs of virtually any client," Weil states.

Check back here for more updates as this story develops. 

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