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This Article is From Oct 30, 2018

Gross Cut Stake in His Janus Unconstrained Fund as of September

(Bloomberg) -- Outside investors may not be the only ones who have pulled money from Bill Gross's bond fund.

The manager and his family's personal stake in the Janus Henderson Global Unconstrained Bond Fund fell to about $566 million at the end of last month from $775 million a year earlier, a regulatory filing Monday shows. When accounting for the fund's 6.3 percent loss, that suggests Gross may have withdrawn or transferred about $150 million of shares.

Gross didn't reply to an email requesting comment. A spokeswoman for fund company Janus Henderson Group Plc didn't immediately respond to a request for comment.

The filing, meanwhile, shows Gross has a bigger piece of a smaller pie. His share of Global Unconstrained rose to 51.6 percent as of Sept. 30 from 35.2 percent a year earlier, while the fund's assets fell to $1.1 billion from $2.2 billion in September 2017.

Investors pulled more than $900 million from the unconstrained fund over the 12 months, according to Bloomberg estimates, as the fund posted losses from misplaced bets such as one that the yield spread between U.S. and German government debt would converge.

What Is Bill Gross's Fund Betting on Anymore?: Brian Chappatta

Bloomberg's estimates for the Janus Henderson fund's flows are based on the change in assets over time that aren't accounted for by performance, reinvested dividends or fees. The numbers may vary from actual figures and from estimates compiled by other data providers.

--With assistance from Miles Weiss.

To contact the reporter on this story: John Gittelsohn in Los Angeles at johngitt@bloomberg.net

To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Josh Friedman, Mary Romano

©2018 Bloomberg L.P.

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