The bond king is done running money
The greatest, or at least most-famous, bond fund manager of all time is done. Janus Henderson says Bill Gross is retiring from the firm and will focus on running his own money.
We won't have to wait long to find out more details. He's going to be on Bloomberg TV 30 minutes.
Gross loves the spotlight but has struggled since leaving PIMCO, which he founded and built into the world's largest bond fund before he was pushed out.
Gross has also had some turmoil in his personal life, with a messy recent divorce. He turns 75 in April.
The press release said he has donated more than $800m in the past 20 years and overseas the $390m in this family foundation.
"I look forward to continuing to work with my son Jeff and daughter Jennifer in identifying and supporting worthy and important causes that are creating better lives locally and around the world," said Mr. Gross.
The press release hints and the reason for his departure from Janus, which he joined in 2014 after a rough split from PIMCO.
"While the Unconstrained strategy Mr. Gross manages has underperformed its 3-month Libor benchmark since Mr. Gross joined Janus Henderson in late 2014, nominal performance has been positive over the time period."
