'Bond King' Bill Gross to retire from Janus

Bill Gross

Bill Gross

Janus Henderson said on February 4 that veteran bond manager Bill Gross will retire to focus on his personal assets and charitable foundation.

The American, 74, who is regarded as a pioneer in fixed-income investing, co-founded Pimco in 1971, where he earned his nickname. By August, when Weil unburdened himself of his opinion on Gross, the assets under Gross' management had fallen to $1.25 billion, having suffered customer redemptions for five straight months, according to Bloomberg News.

His time at Janus Henderson, which he joined in late 2014, was also disappointing.

WA welcomes the Chinese Year of the Pig
The year of the pig in the 12-year Chinese astrological cycle starts Tuesday; it follows the year of the dog. /Public Release. However, amid the ongoing trade tensions and economic strains, Chinese market gains have been capped.

Gross ran the PIMCO Total Return Fund, which was once the world's largest bond fund at a peak of $292.9 billion in assets.

Pimco, or Pacific Investment Management Co, is owned by Allianz SE.

Janus says that the fund Gross manages there will be taken over by his team and that there would be no change to the funds' investment objective or guidelines. Gross said in a statement.

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