Janus Capital said that Kumar Palghat, who worked with Mr. Gross at Pimco for 10 years, will help run the Janus Global Unconstrained Bond Fund, with Mr. Gross staying on as lead manager. Janus also bought a majority stake in Mr. Palghat's firm, Kapstream Capital.
Janus to buy majority stake in Kapstream
Bill Gross Looks to Build His Bond Team
At Pimco, Bill Gross built a reputation as the world's best bond trader. Now, at Janus Capital, he's managing a much smaller fund — all while being measured against his younger self.
Liquidity is not as robust as it used to be, but the asset management industry has continued to grow, creating new issues for fixed-income investors, says Janus fixed-income CIO Gibson Smith.
Follow our annual Investment Conference with Morningstar.com's on-the-spot reports and one-on-one interviews with some of the industry's best investing minds.
Investors Pulled $11.7 Million From Gross's Janus Fund in May
After the dust from the Bill Gross hiring has settled, verdict is still out as to whether Janus CEO Richard Weil can bring the company's financial metrics up to the level of its competitors.
Low rates threaten solvency of pension funds, insurers