Veteran bond whiz Bill Gross leaves a career that yielded much
After four decades in the debt-investment game, Bill Gross is given credit for transforming it
Bill Gross, who transformed bond investing over a storied four-decade career, is leaving the stage after a tough final chapter. Gross, who announced his retirement on Monday, struggled in the last four years as head of the Janus Henderson Global Unconstrained Bond Fund. His performance failed to match his stellar performance while building Pacific Investment Management's Total Return Fund into a bond giant. “I look back on it and the performance of the unconstrained fund in the past four years with Janus has been unsatisfactory, no doubt,” Gross said on Bloomberg TV. “Maybe I should have stuck to total return and been more constrained,” he said. Gross joined Janus Henderson Group in late 2014. At Janus, in his unconstrained fund plummeted and annualised returns were under 1%. Responsibility for the fund would be assumed by the team that had been supporting Gross, Janus said. In his next phase, Gross, 74, will focus on managing his personal assets and remain active in charitable ende...
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