Bill Gross hiring at Janus sees more than $1bn net deposits into bond fund

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Janus Capital Group saw more than $1bn of estimated net deposits into two bond mutual funds in October after hiring star bond manager Bill Gross.

Bloomberg News reports that the Janus Global Unconstrained Bond Fund, which Gross started managing last month, drew an estimated $364m in client deposits in its first full month with the bond legend at the helm, bringing assets to $442.9m through October 31, according to data compiled by Bloomberg.

Janus Flexible Bond Fund, a core bond strategy, saw $821m of deposits in the month, pushing assets to $8.4bn.

'We are encouraged by the level of interest we are seeing across many of our funds, including our Flexible Bond Fund and Global Unconstrained Bond Fund', the company said in an e-mailed statement. Management believes we will continue to have unusual levels of opportunities, particularly in institutional fixed income, over the next year or more'.

Janus is seeking to raise its profile and rebuild a brand damaged by missteps and departures of money managers. In addition to hiring Gross, the firm recently agreed to buy VelocityShares to expand in exchange-traded products, the fastest-growing part of the fund industry. 

To access the complete Bloomberg News article hit the link below:

Janus Attracted More Than $1 Billion After Gross Joined

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