'Bond King' Bill Gross to retire

Legendary fund manager Bill Gross to retire

FBN’s Lauren Simonetti on Janus Henderson Investors announcing Bill Gross will retire.

Bill Gross is retiring after a career of more than 40 years in bonds.

Continue Reading Below

Gross, 74, reigned for decades as the "Bond King" at Pacific Investment Management (PIMCO), the firm he co-founded, until jumping to Janus Henderson.

Gross has decided to focus on managing his personal assets and charitable foundation.

He will leave the asset manager on March 1.

“I’ve had a wonderful ride for over 40 years in my career — trying at all times to put client interests first while inventing and reinventing active bond management along the way,” Gross said in a statement Monday. "So many friends and associates at my two firms to thank – nothing is possible without a team working together with a common interest.”

Advertisement

Gross co-founded PIMCO in 1971 and served as managing director and its chief investment officer. He joined Janus Henderson in 2014, when it was known as Janus Capital, to manage the Janus Henderson Global Unconstrained Bond Fund and work on fund strategies, including a successful institutional total-return strategy.

CLICK HERE TO GET THE FOX BUSINESS APP

"I have known Bill for the past 23 years. Bill is one of the greatest investors of all time and it has been my honor to work alongside him, said Dick Weil, chief executive officer of Janus Henderson. “I want to personally thank him for his contributions to the firm."

Throughout his career, he has received numerous awards, including Morningstar Fixed Income Manager of the Decade for 2000 to 2009 and Fixed Income Manager of the Year for 1998, 2000 and 2007.  Gross became the first portfolio manager inducted into the Fixed Income Analysts Society's Hall of Fame in 1996.

Source: Read Full Article