Bill Gross' Unconstrained Bond Fund Suffers $73M Monthly Outflow in November

Dec 8 2015 | 5:04pm ET

By Jennifer Ablan (Reuters) - Bill Gross' Janus Global Unconstrained Bond Fund suffered its highest monthly outflow since its inception last month, according to fund research firm Morningstar on Tuesday.

For the month of November, the fund saw outflows of $73 million, with assets at $1.3 billion at the month's end, Morningstar said.

So far this year, the Janus Global Unconstrained Bond Fund is posting negative returns of 2.01 percent and lagging 72 percent of its peer category, according to Morningstar.

In November, Soros Fund Management LLC, which billionaire investor George Soros chairs, pulled its roughly $500 million from an account run by Gross at Denver-based Janus Capital Group.

The cash withdrawals are particularly significant for Gross as his Janus Global Unconstrained Bond Fund, which Gross began managing in October 2014, holds more than $700 million of Gross' personal money.

A Janus spokeswoman declined to comment.


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