Investors pulled $11.7 million from Bill Gross's new mutual fund
at Janus Capital Group Inc. in May, continuing months of lackluster
investor interest, according to new data Monday from fund-research
firm Morningstar Inc.
Assets in the Janus Global Unconstrained Bond fund totaled $1.5
billion at the end of May, unchanged from the previous month. Asset
totals also take into account appreciation.
Mr. Gross, formerly the star bond-fund manager at Pacific
Investment Management Co., has seen his performance stumble in
recent weeks amid a bond-market selloff. So far this year through
June 5, his fund has lost .49%, following a period of strong
performance, according to Morningstar.
A Janus spokeswoman declined to comment.
Mr. Gross has had trouble attracting investor money into his
fund since his abrupt departure from Pimco last September. Of the
more than $100 billion that has left Pimco's flagship Total Return
fund, which Mr. Gross used to manage, he has received just a
fraction. Of $1.5 billion in assets under management in his fund,
more than $700 million is Mr. Gross's own money, the company has
said.
In March and April, the fund saw about $70 million of inflows
combined, but an outflow of $18.5 million in February.
Write to Kirsten Grind at kirsten.grind@wsj.com
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