Gross will start Sept. 29 at new Janus office in Newport Beach, Calif., and will begin managing the Janus Global Unconstrained Bond Fund on Oct. 6, according to a press release distributed by BusinessWire today.
In a year of record withdrawals from taxable bond funds, no category has been harder hit than the biggest broad market strategies managed by firms from Pacific Investment Management Co. to JPMorgan Chase & Co.
Investors shouldn’t trust the opinion of Moody’s Investors Service on the U.S.’s Aaa rating and should rely instead on the company’s competitors, according to Pacific Investment Management Co. founder Bill Gross.
On April 19, three weeks before he called the end of the 30-year bull market in bonds, Bill Gross said he was buying inflation-linked Treasuries, a bet that money printing by the world’s central banks would push up consumer prices.
Warren Buffett, chairman of Berkshire Hathaway Inc., said he ignores macroeconomic forecasts such as Bill Gross’s “new normal” when investing and sympathizes with people who stuck with bonds amid low interest rates.
Pacific Investment Management Co. and BlackRock Inc. are among U.S. investors buying up bank bonds in Europe’s most indebted nations as central-bank chief Mario Draghi wins back the confidence of the world’s biggest money managers.