jump to Janus from Pimco is as good as gold for holders of Janus shares, as well as Larry Fink and Blackrock's shareholders. JNS opened the day at $15.35, a gain of 38 percent from Thursday's $11.11 close.
The increase added more than $777 million to Janus' market cap at the start of the day.
Janus shares had traded in a range from $11 to $11.50 all week, suggesting that the Bond King's news surpsised Mr. Market as much as it did those in the mutual fund industry.
Meanwhile, shares in Allianz dropped nearly six percent on Friday in trading in Germany. Allianz is the parent company to Pimco. The fall knocked nearly $3.7 billion from Allianz' market cap.
Rival bond managers have also benefited from Gross' move. Shares in BlackRock are trading more than 4 percent higher. Legg Mason shares are doing even better, trading more than five percent higher. Legg Mason is the parent company to Pimco rival Wamco, or Western Asset Management.
Legg Mason has added $280 million in market cap while BlackRock added $2.3 billion.
Shares in Oaktree Capital Group, the venture capital firm that backed Jeffrey Gundlach's
DoubleLine Capital rose a tad just less than three percent on Friday. Gundlach told Reuters
that he and Gross met last week to discuss a possible role for Gross at DoubleLine. Instead, Gross opted to join Janus, where his old Pimco colleague Dick Weil
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