Bill Gross Looks to Build His Bond Team
A month after checking on his old Pimco colleague last September, the bond manager got an offer he couldn't refuse.
Bond manager says most investors have yet to be tested with a long-term downtrend and that's when liquidity will be an issue.
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.
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.
Janus to buy majority stake in Kapstream
Douglas Hodge and Daniel Ivascyn highlight Pimco's new areas of focus while speaking at the Morningstar Investment Conference.
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UPDATE: Greek debt crisis: 'Something awful' this way comes