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Money Management

Bond guru Bill Gross calls it a career

Famous investor retiring after more than 4 decades

Bill Gross

Bill Gross is set to retire and will leave Janus Henderson on March 1 to focus on managing personal assets and his charitable foundation.

Janus Henderson said in a news release Monday that Mr. Gross' portfolio management responsibilities for his global unconstrained bond funds and related strategies will be assumed by the global macro fixed-income team that has been supporting Mr. Gross for the past four years.

Nick Maroutsos, co-head of global bonds and portfolio manager at Janus Henderson, will become portfolio manager of the global unconstrained bond funds on Feb. 15, ahead of Mr. Gross' planned departure on March 1.

Janus Henderson's global unconstrained bond funds, which had $1.3 billion in assets under management as of Dec.31 and are domiciled in the United States and Ireland, will be renamed Absolute Return Income Opportunities effective Feb.15. There will be no change to the funds' investment objective or guidelines, the firm said.

"(Mr. Gross) is one of the greatest investors of all time and it has been my honor to work alongside him. I want to personally thank him for his contributions to the firm," Janus Henderson CEO Dick Weil said in the release.

"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," Mr. Gross said in the release. "So many friends and associates at my two firms to thank — nothing is possible without a team working together with a common interest."

Mr. Gross, 74, co-founded PIMCO in 1971 and served as managing director and its chief investment officer until 2014, when he joined Janus Henderson as portfolio manager of the global unconstrained bond and total return strategies.

A Janus Henderson spokeswoman declined to comment beyond the news release.