Retired bond manager Bill Gross has withdrawn $600 million (£458 million) from his former Janus Henderson Global Unconstrained Bond fund, which he stepped down from at the end of February.
As a result of Gross pulling his personal investment in the strategy, assets in the fund have dropped from over $900 million in mid-March to just $232 million as of now.
According to Morningstar Direct data, the fund has suffered outflows of $35 million, $78 million and $605 million, respectively for the first three months of this year.
A spokeswoman for Gross confirmed his withdrawal from the fund, adding that he had always intended to take this money out, as he wants to continue to manage his own portfolio.
The fund, which has been renamed the Janus Henderson Absolute Return Income Opportunities fund, is now solely managed by Janus Henderson’s co-head of global bonds Nick Maroutsos.
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