One-time bond king Bill Gross to retire from Janus Henderson

CNBC ^ | 02/04/2019

[SeekAndFind]

Bill Gross, the one-time bond king who built investing giant Pimco from the ground up 48 years ago then went on to run his own fund at Janus Henderson, announced his retirement Monday.

The retirement, effective March 1, marks the end of an era, closing a career for a fixed income expert who once had the ear of policymakers in the highest places. After leaving Pimco, Gross was never able to regain the standing he once held, and the fund he ran for Janus Henderson had badly underperformed for most of the nearly five years he had been there.

"I've had a wonderful ride for over 40 years in my career — trying at all times to put client interests first while inventing and reinventing active bond management along the way," the 74-year-old Gross said in a statement.

While at Pimco, Gross helped run the world's largest mutual fund, the Pimco Total Return Fund, which once boasted nearly $300 billion in assets. The fund began to hemorrhage investor money amid a battle at the firm's top between Gross and his co-CEO Mohamed El-Erian. Most recently, it was down to $65.6 billion in assets but has been outperforming its benchmark for the past three years.

Despite some well-chronicled acrimony between the two, El-Erian was complimentary of Gross on his retirement.

"Bill leaves behind him a long history of fixed income innovation, as well as investment approaches and frameworks that many investors still use today," El-Erian said in an emailed statement.

[Steely Tom]

Somehow I got through the last 48 without ever hearing of this guy, much less being aware that he was the “bond king.”

[ameribbean expat]

“Bond king” in an era of declining yields:
https://www.macrotrends.net/2521/30-year-treasury-bond-rate-yield-chart

Not exactly brain surgery.

[jdsteel]

Beat me to it!!!