Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:What Will Be Gross' Next Act? Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 03, 2014

What Will Be Gross' Next Act?

News summary by MFWire's editors

The ongoing drama at Pimco recently has landed Bill Gross in the heart of a media storm. It'll be a tough March for him deciding whether he needs to navigate it.

Recent media pieces have revealed the escalating tension between him and Mohamed El-Erian last summer which presumably led to the 55-year-old El-Erian's resignation and created turbulence for its employees. Meanwhile, the performance of the Pimco Total Return Fund, run by Gross, has trailed 64% of its peers-- which will undoubtedly impact investors' confidence. 

Now, Gross is on damage control. Recently the 69-year-old bond king, who professes that he doesn't like "sweet talking," defended himself to the WSJ declaring that "there's a time for soft love and time for hard love… I can't admit to both." He nonetheless has tried to portray a softer side to himself, for example boasting about how he once allowed a "conga line on the trading floor." He alas was publicly endorsed by the former head of Pimco's global equities Neel Kashkari.

Outsiders, of course, are still clueless as to what has been happening exactly within Pimco, which may be part of the problem. Will investors, especially institutions, continue to be comfortable with this notoriously "hard-charging" personality?

One bright spot in this typhoon, the WSJ reports that parent company Allianz seems "happy" with the Gross show. After all Pimco attributes about 80% of German issuer's asset management revenue.

Meanwhile, the firm may be testing out the equity alternatives water, according to recent comments by newly-hired deputy chief investment officerVirginie Maisonneuve.

Will this be enough? Does he need to do more? Or, does it even matter? Does Gross need to proclaim a certain kind of warmth-and-fuzziness or does he need to stand strong on the hard-charging? Will all of this be enough, or is this just Act One of a specialty debt circus?

We shall see.  

Edited by: Amy Xie


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. IDC Foundations for Fund Directors, Mar 1-2
  2. MFDF webinar - Board Oversight of ETFs, March 3
  3. FinReg Outlook 2021, March 10
  4. MFDF Director Discussion Series - Open Forum via Zoom (Midwest), March 10
  5. Irish Funds North American Digital Seminar, March 11
  6. MFDF webinar - Municipal and Taxable Fixed Income — A Multi-Speed Recovery, March 12
  7. 2021 Virtual Mutual Funds and Investment Management Conference, Mar 15-19
  8. SEC & DOL Standard of Conduct Rulemakings — Present & Future Considerations, March 23
  9. MFDF Director Discussion Series - Open Forum via Zoom, March 24
  10. ETFGI Global ETFs Insights Summit - ESG & Active ETF Trends, Mar 24-25
  11. MFDF webinar - Asset Management M&A for Fund Directors — Recent Trends and Governance Issues, March 31
  12. MFDF Director Discussion Series - Open Forum via Zoom, April 7
  13. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  14. ETF.com Awards 2020, April 20
  15. The 31st Sub-Advised Funds Forum, Apr 20-21
  16. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  17. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  18. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  19. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  20. ICI 2021 General Membership Meeting - Day 1, May 6
  21. ICI 2021 General Membership Meeting - Day 2, May 13
  22. 2021 FINRA Annual Conference, May 18-20
  23. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  24. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  25. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  26. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use