Gross Put More Than $700 Million in Janus Unconstrained Fund

grossbill2

(Bloomberg) -- Bill Gross invested more than $700 million of his own money in his unconstrained bond fund, Janus Capital Group's Chief Executive Officer Dick Weil said today in a conference call with investors and analysts.

Gross is “proud to eat his own cooking,” Weil said on a call discussing fourth-quarter earnings.

The Wall Street Journal previously reported that Gross had invested his own money in the fund, but it was unclear at the time if all $700 million  -- transferred from the Morgan Stanley brokerage where his personal financial advisor works -- had come from Gross

Gross has a history of putting his own money into the funds he manages, a move that can be seen as a vote of confidence in his strategy and help attract bigger investors. The Janus Global Unconstrained Bond Fund, which Gross has run since Oct. 6, expanded to $1.4 billion in assets as of Dec. 31, from $13 million before he joined Janus, according to data compiled by Bloomberg.

Janus today reported fourth-quarter earnings that rose 18% as it attracted new money for the first time in more than five years.

Read more:

For reprint and licensing requests for this article, click here.
Financial planning
MORE FROM FINANCIAL PLANNING