MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, October 6, 2014 The Bond Dream Team That Almost Was For those looking for more insight into the Bill Gross-Pimco-Janus drama of the past week and a half, two articles from this weekend offer glimpses inside the mind of the bond king himself. Jennifer Ablan of Reuters interviewed Jeff Gundlach, another star bond PM who had a falling out with a European-controlled, Southern California-based asset manager. Gundlach gives the wire service the details about a meeting between himself and Gross that occurred just a week or so before Gross made his move to Janus. "I did think there could be some kind of 'Dream Team' concept," Gundlach tells Reuters about the possibility of him and Gross working together. Gundlach saays that Gross agreed that the latter was "running too much money" and that that problem was hurting performance. The article gives more insight into Gross's thoughts, as retold by Gundlach, in the days leading up to his departure from Pimco. And it offers color on the meeting of the bond kings, such as where it went down (Gundlach's house), how Gross got there ("chaffeur-driven car") and the refreshments they spoke over (lemonade, water and sliced veggies). Also this weekend, Lauren Rublin of Barron's posted an interview with Gross himself, about the move and his market outlook. Retirement, in Gross' words, "just doesn't suit" him. "Managing money is in my blood," Gross tells Barron's. Gross confirms that expects to have no role "in setting the company's direction" at Janus, that working on an ETF version of the Janus fund he now PMs "is on Janus' plate", and that Janus' smaller team size and his new fund's smaller asset base will be an advantage. "I don't intend to downscale in intensity, but Janus is the right spot at the right time for me," Gross tells Barron's. Printed from: MFWire.com/story.asp?s=49811 Copyright 2014, InvestmentWires, Inc. All Rights Reserved |