Gross: 'I never expected to be arbitraging stocks in my career'

New development for manager

Janus Capital's Bill Gross has said he is snapping up cash-like equivalents to bonds and playing arbitrage situations as there are so few opportunities for returns in investment markets.

In an interview with Bloomberg, Gross (pictured) said he is moving the $1.5bn Global Unconstrained Bond fund into cash-like equivalents and investing in areas he has not yet ventured into in his 46-year career as he dislikes so many equities and bonds available in the market. "We have been buying 1- and 2-year corporate bonds, which yield 1.5%, and looking at arbitrage situations that are relatively certain such as LinkedIn being bought by Microsoft. "We are lying low and waiting for a better opportunity. I never expected to be arbritraging stocks in my career, that is a new developme...