Bill Gross (70) ends at Pacific Investment Management Company LLC (Pimco) to lead the newly launched Janus Global Unconstrained Bond Fund at Janus Capital Group, according to a press release issued by Janus Capital.
He ends the day at Pimco and meetings at work at Janus Capital in Newport Beach, California, on Monday 29 September.
Janus Capital is based in Denver, Colorado, and has 178 billion dollars, equivalent to 1.140 billion under management for investors, clients and institutions.
Full press release
philanthropist and stamp collector
Gross jumps from Pimco , where he was responsible for managing the world’s biggest bond fund (PTTRX) at 270 billion dollars, equivalent to 1.700 billion.
Bill Gross is a philanthropist and he, according to Wikipedia is the largest contributor to Doctors Without Borders . He is also a passionate stamp collector, with one of the world’s most impressive collections, and in November 2005 he was the 3rd person to collect all American stamps from the 19th century.
In September last year opened even The Smithsonian National Postal Museum’s William H. Gross Stamp Gallery.
According to Forbes Bill Gross has a fortune of $ 2.3 billion, equivalent to just under 15 billion.
Why?
Bill Gross was co-founded Pimco in 1971, now has 13,000 billion under management. According to Forbes, he is the most powerful man in the bond market and that is why mostly everyone now wondering what has gotten him to move.
One reason may be that his fund had a negative return last year, for the first time since 1999.
But he is not the first to leave Pimco. Pimco’s CEO Mohamed El-Erian, resigned at the beginning of the year, apparently because he suddenly discovered that he had not spent enough time with his 10 year old daughter.
A contributing factor, according to Forbes have been the relationship between El-Erian and Gross temperementsfulle shall have become increasingly strained.
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