Bill Gross’ Janus Global Unconstrained Bond Fund received $66.4 million in deposits in September, the month Gross announced he was leaving Pacific Investment Management Co. (Pimco) to join Janus Capital Group.
The client cash brought assets at the fund, which Gross started managing this past week, to $79.1 million, according to fund researcher Morningstar.
Janus shares soared 43 percent Sept. 26, the day Gross announced he would work for the firm, on the expectation that he would attract a considerable amount of money to his new fund. The shares have since declined.
Gross, who co-founded Pimco in 1971 and ran the world’s largest bond mutual fund, left the firm after his deputies threatened to quit and management debated his ouster, according to people familiar with the matter.
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Gross’ $201.6 billion Pimco Total Return Fund had a record $23.5 billion in redemptions in September, Pimco has said. Two other large funds that Gross managed, the $18.3 billion Pimco Unconstrained Fund and the $20 billion Pimco Low Duration Fund, also experienced withdrawals, according to Morningstar estimates.