Soros pulls US$490m from Gross fund
Redemption deals blow to Janus and Bill Gross's bid to prove himself post-Pimco
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JANUS Capital Group Inc took out an advertisement a year ago to trumpet a US$500 million investment by George Soros in a fund managed by Bill Gross, weeks after the bond guru was ousted by Pacific Investment Management Co and joined the Denver-based firm.
"An honour to be chosen & an honour to be earned as well," Mr Gross said at the time on a tweet he posted on Janus's corporate feed. Now, the Soros money is gone, pulled as the Janus Global Unconstrained Bond Fund lost 2 per cent since Mr Gross started running it, worse than 63 per cent of similar funds. For Mr Gross, who has given himself just a few years to prove he can still beat his peers and burnish his reputation as one of the greatest bond managers in history, it's arguably the hardest blow since his departure from Pimco.
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