Bill Gross to revive total-return strategy at Janus

Washington

BILL Gross, faced with slow growth at his Janus mutual fund, is reviving the total-return strategy that made him one of Wall Street's most famous bond managers.

Janus Capital Group Inc is setting up a private total-return bond fund, to be managed by Mr Gross, that will raise money from institutional investors, according to a person with knowledge of the matter. Mr Gross told Pension & Investments in an interview published on Monday that Janus plans to offer the total-return strategy as a mutual fund as well.