Bill Gross, the Veteran investor, has announced that he will be retiring from Janus Henderson Investors this coming March.
Gross established Pimco in 1971. He will be stepping down from his positions as portfolio manager of the Global Unconstrained Bond and Total Return strategies effective on the 1st of March. His responsibilities will be transferred to the Global Macro Fixed team that is led by Nick Maroutsos.
The investor was considered a pioneer in fixed income investing for 40 years. He joined Janus Henderson in 2014. He said that he will be focusing on managing his personal assets and his charitable foundation named the William, Jeff and Jennifer Gross Family Foundation after his retirement.
In a statement that was released by the company last Monday, it said that the unconstrained strategy of Gross had underperformed in the years since he joined Janus Henderson.
Gross stated: “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.”
He continued: “So many friends and associates at my two firms to thank – nothing is possible without a team working together with a common interest. I’ve been fortunate to have had that.”
He added: “And thank you to all of my past clients for their trust and support. I learned early on that without a client, there can be no franchise. I’m off – leaving this port for another destination with high hopes, sunny skies and smooth seas.”
The chief executive of Janus Henderson, Dick Weil, stated: “I have known Bill for the past 23 years.
He added: “Bill is one of the greatest investors of all time and it has been my honour to work alongside him. I want to personally thank him for his contributions to the firm.”