Bond guru Bill Gross took a hit in the market mayhem on Monday.
His $US1.47 billion fund at Janus Capital fell 2.87% on Monday, The Wall Street Journal reported citing data from Morningstar.
The decline is the one-day return through Monday night for the Janus Global Unconstrained Bond Fund.
Year-to-date, the fund is down 2.69%, data from Morningstar shows.
We reached out to Janus for comment.
Janus’ stock was last trading up $US0.13 at around $US14.59. Shares of Janus are up more than 32% since Gross joined the firm.
The bond fund had a little less than $US13 million in assets under management when Gross joined. Under Gross’ leadership it has seen tremendous growth. It currently manages close to $US1.5 billion in assets.
Gross, who has an estimated networth of $US2.3 billion, also put around $US700 million of his own wealth into the bond fund late last year, according to a report in the Wall Street Journal.
Gross joined Janus last September after abruptly exiting from Pimco, the company he cofounded.
It was later reported that Gross was going to be fired by Pimco for “increasingly erratic behaviour.”
Pimco said in a statement at the time that the firm’s leadership and Gross had “fundamental differences.”