Bill Gross and his family own more than half of the bond fund he runs on behalf of Janus Capital Group Inc., after acquiring their shares through brokerage accounts at Morgan Stanley and Charles Schwab Corp.
Bloomberg News reports that Gross and his family held a 51.2 percent stake in Janus Global Unconstrained Bond Fund as of Dec. 31, according to a filing Friday by Denver-based Janus with the U.S. Securities and Exchange Commission.
The shares had a market value of $739 million, based on net assets of $1.45 billion at year-end.
Gross began running Janus Global Unconstrained on Oct. 6 after his surprise departure from Pacific Investment Management Co., the Newport Beach, California-based company he co-founded in 1971. The fund’s assets soared from $13 million after Gross took over, and Janus Chief Executive Officer Dick Weil disclosed on a Jan. 22 conference call that more than $700 million came from Gross himself.
Hit the link below to access the complete Bloomberg News article: