The biggest investor in Bill Gross’ bond fund at Janus Capital is Bill Gross.
According to a report from Bloomberg’s Miles Weiss and Mary Childs, a regulatory filing shows that Gross and his family own more than half of the bond fund he runs at Janus Capital.
Gross runs Janus’ Unconstrained Bond Fund, which had just $US13 million in assets under management when Gross joined the firm in late September and now has just under $US1.4 billion in assets under management as of December 31, according to data from Janus.
Bloomberg’s report said that shares held through brokerage accounts tied to Gross’ family at Morgan Stanley and Charles Schwab have a market value of $US739 million.
Back in January, The Wall Street Journal reported that Gross had piled as much as $US700 million into his new fund.
On Janus’ first quarter earnings conference call held on January 22, Janus CEO Dick Weil addressed the report and Gross’ investment in his own fund, saying:
Finally, there has been a lot of talk about Bill Gross’s personal investment in his own funds. At the end of 2014, Bill had invested more than $US700 million of his personal money in the global unconstrained bond fund.
He fundamentally believes that investing alongside of clients aligns interest, he believes in eating his own cooking. And that’s a concept that actually has much longer history at Janus than Bill’s short time with us.
Bloomberg’s report noted that Gross’ additions to his funds in the fourth quarter helped Janus break a 21-quarter streak of investor withdrawals. Janus’ bond funds added $US2.8 billion in assets this quarter, Bloomberg reported.
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