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Bill Gross Retires After Storied Four-Decade Career in Bonds



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Photographer: Patrick T. Fallon / Bloomberg

Bill Gross, who reigned for the decades as the Bond King at Pacific Investment Management Co Janus Henderson Group Plc from the fixed-income giant he co-founded.

"I had a wonderful ride for over 40 years in my career – trying at all times to put client interests first while inventing and reinventing active bond management along the way, ”Gross said in a statement Monday. "So many friends and associates at my two firms to thank – nothing is possible without a team working together with a common interest."

Gross, 74, has run the Janus Henderson Global Unconstrained Bond Fund since late 2014, shortly after he left Pimco in the middle of a management clash. His annualized returns of less than 1 percent at Janus failed to live up to his long-term record from the Pimco era.

Responsibilities for the unconstrained bond fund and related strategies will be considered by the team at Janus that has been supporting Gross for four years, according to the statement. Nick Maroutsos, co-head of global bonds, will become the portfolio manager of the fund as of Feb. 15. [19659011] Read more on the fund here.

The billionaire money manager started his latest chapter with fanfare, compared to Janus Chief Executive Officer Dick Weil to Super Bowl winning quarterback Peyton Manning, "that game-changing level of talent." Grossly poured $ 700 million of his staff into the unconstrained fund, but he did not attract much outside his money and his performance relative to peer deteriorated year.


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