In just the one month that Bill Gross, who was dismissed by Pimco, has been working at Janus Capital Group, the company has attracted $1 billion, according to Bloomberg. For Janus, Gross, aged 70, manages the Janus Global Unconstrained Bond Fund, which drew $364 million client deposits in the first month, bringing total assets to $442.9 million. Janus Flexible Bond Fund saw $821 million last month for a total of $8.4 billion.
Janus has had its fair share of challenges, after losing a hefty amount during the dot.com bust in 2001, having managers depart and paying a fine when then NY Attorney General Elliot Spitzer found Janus guilty of improper trading in 2003. Janus hopes to revamp its reputation with Gross, who managed $2 trillion in assets at Pimco.
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