Bill Gross quits PIMCO to join Janus

PIMCO founder Bill Gross, manager of the PIMCO Total Return fund, has quit the group to join Janus Capital.

Gross, PIMCO CIO and manager of the world's largest bond fund - the $220bn PIMCO Total Return fund - will start at US group Janus on Monday. He will manage the recently-launched Janus Global Unconstrained Bond fund and related strategies, and will join Myron Scholes and other members of the Janus team focused on global asset allocation. "I look forward to returning my full focus to the fixed income markets and investing, giving up many of the complexities that go with managing a large, complicated organisation," Gross said. PIMCO said in a statement that its management board "will ...