Soros Pulls $490M From Fund Managed by Gross

Soros Pulls $490M From Fund Managed by Gross

Janus took out an advertisement a year ago to trumpet a $500 million investment by George Soros in a fund managed by Bill Gross, weeks after the bond guru left Pimco and joined the Denver-based firm. Now, the Soros money is gone, pulled as the Janus Global Unconstrained Bond Fund lost 2% since Gross...

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Veröffentlicht in:Money Management Executive 2015, Vol.23 (44), p.1
1. Verfasser: Gittelsohn, John
Format: Newsletterarticle
Sprache:eng
Schlagworte:
Bond funds
Gross, Bill
Institutional investments
Litigation
Mutual funds
Portfolio management
Scandals
Soros, George
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Zusammenfassung:Janus took out an advertisement a year ago to trumpet a $500 million investment by George Soros in a fund managed by Bill Gross, weeks after the bond guru left Pimco and joined the Denver-based firm. Now, the Soros money is gone, pulled as the Janus Global Unconstrained Bond Fund lost 2% since Gross started running it, worse than 63% of similar funds. Billed as Janus's Peyton Manning ("that game-changing level of talent") by Janus CEO Dick Weil, Gross failed to attract large amounts of outside money to his new fund and this year started to see redemptions.
ISSN:1549-9111