Janus October net inflows largest of 2014 after Gross’ arrival
Wednesday, 12 November 2014 00:38
NEW YORK (Reuters): Janus Capital Group Inc posted $ 1.1 billion in net inflows in October; the largest net deposits this year, after the hiring of Bill Gross, one of the bond market’s most renowned investor.
The Janus Global Unconstrained portfolio, which Gross started managing in October, attracted an estimated $ 364 million in client deposits in the first full month since Gross’ arrival, bringing assets to $ 442.9 million through 31 October, according to Morningstar data on Monday.
Gross, who co-founded Pimco in 1971 and built it into one of the largest investment firms in the world, managing $ 2 trillion of pension, endowment, and retirement money, resigned from Pimco on 26 September to join smaller rival Janus.
The inflows into Janus came as Pimco reported outflows of $ 48.3 billion across its open-ended funds in October, adding to $ 25.5 billion of withdrawals in the previous month, Morningstar added.
The Vanguard Group and BlackRock have benefitted from an exit of funds from Pimco after the departure of Gross.
Vanguard said Friday its bond funds and exchange-traded funds saw a record monthly inflow of $ 10.3 billion in October compared with $ 9.3 billion in September.
BlackRock Inc’s bond funds posted record monthly inflows of $ 5.2 billion in October, the most investors have poured into the firm’s bond funds since May 1998, according to Morningstar data.