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Friday, September 26, 2014|
Why Did Gross Do It?
This morning Janus chief Dick Weil revealed to the world that the most famous bond fund investor out there, Pimco's Bill Gross, will join Janus in just three days. Here's Gross' explanation, in an emailed statement:
For most of my career, I have been privileged to be associated with one of the most successful investment management firms ever -- Pacific Investment Management Company (PIMCO). Today, with a mixture of excitement and sadness, I am announcing that I have decided to join Janus Capital Group and end my association with PIMCO. It was not without great thought and deliberation over quite some time that I decided to begin this next chapter. During my time at PIMCO we accomplished a great deal, managing now over 2 trillion dollars of global assets with a track record of very significant value added that has generated tens of billions of dollars to individual, corporate, and sovereign client portfolios. But now, after having spent considerable time serving in senior management, it is a time for me to reduce executive and people management responsibilities at a larger firm and focus on the pure aspects of portfolio management at a smaller one. Janus is the right fit at the right time in my career - and my life.
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