LONDON & DENVER--(BUSINESS WIRE)--
Janus Henderson Investors (NYSE: JHG, ASX: JHG) announced today that
William H. Gross (Bill) has decided to retire from the firm and focus on
managing his personal assets and private charitable foundation.
Mr. Gross, 74, has been a pioneer in fixed income investing for more
than 40 years. He co-founded PIMCO in 1971 and served as managing
director and its chief investment officer. He joined Janus Henderson in
2014 (then Janus Capital) to manage the Janus Henderson Global
Unconstrained Bond funds and related strategies, including a successful
institutional Total Return strategy.
Dick Weil, Chief Executive Officer of Janus Henderson, said: “I have
known Bill for the past 23 years. Bill 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.”
Bill Gross said, “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. 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. 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!”
Mr. Gross also oversees the $390 million-asset William, Jeff and
Jennifer Gross Family Foundation, which donated $21,450,000 to 28
non-profits in 2018, including Doctors Without Borders and the
Children's Hospital of Orange County. Mr. Gross intends to be active in
visiting prospective charitable organizations, as well as managing his
personal assets. Including proceeds from his world-renown stamp
collection, Mr. Gross has made philanthropic donations totaling $800
million in the past 20 years.
“I look forward to continuing to work with my son Jeff and daughter
Jennifer in identifying and supporting worthy and important causes that
are creating better lives locally and around the world,” said Mr. Gross.
While the Unconstrained strategy Mr. Gross manages has underperformed
its 3-month Libor benchmark since Mr. Gross joined Janus Henderson in
late 2014, nominal performance has been positive over the time period.
In addition, and in-line with Mr. Gross’s career success as a bond
investor, his currently existing Total Return strategy has outperformed
its U.S. Aggregate benchmark by 89 basis points, net of fees, through
12/31/2018.
As a result of Mr. Gross’s decision to retire, portfolio management
responsibilities for the 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. This team
reflects the capabilities of Kapstream, acquired by Janus Henderson in
2015, and has been in place to facilitate an orderly transition of the
strategies at such time as Mr. Gross chose to retire. Nick Maroutsos,
co-head of Global Bonds and portfolio manager at Janus Henderson, will
become portfolio manager of the Global Unconstrained Bond funds
effective February 15, 2019 to assist with the transition associated
with Mr. Gross’s planned departure on March 1, 2019. Mr. Gross will work
closely with Mr. Maroutsos and the team to ensure a smooth and seamless
transition.
Effective February 15th, 2019, the Global Unconstrained Bond
funds domiciled in the United States and Ireland will be renamed
Absolute Return Income Opportunities, which better reflects the strategy
name of existing Kapstream portfolios managed in a similar fashion.
There will be no change to the funds’ investment objective or guidelines.
About Bill Gross
Mr. Gross has been a pioneer in fixed income investing for more than 40
years. He co-founded PIMCO in 1971 and served as managing director and
its chief investment officer until joining Janus in 2014. Throughout his
career, he has received numerous awards, including Morningstar Fixed
Income Manager of the Decade for 2000 to 2009 and Fixed Income Manager
of the Year for 1998, 2000 and 2007. Mr. Gross became the first
portfolio manager inducted into the Fixed Income Analysts Society’s Hall
of Fame in 1996 and received the Bond Market Association’s Distinguished
Service Award in 2000. In 2011, Institutional Investor magazine awarded
him the Money Management Lifetime Achievement Award.
About Janus Henderson
Janus Henderson Group (JHG) is a leading global active asset manager
dedicated to helping investors achieve long-term financial goals through
a broad range of investment solutions, including equities, fixed income,
quantitative equities, multi-asset and alternative asset class
strategies.
Janus Henderson has approximately US$378 billion in assets under
management (at 30 September 2018), more than 2,000 employees, and
offices in 28 cities worldwide. Headquartered in London, the company is
listed on the New York Stock Exchange (NYSE) and the Australian
Securities Exchange (ASX).
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Press Enquiries
Erin Passan, +1 949-922-2112, epassan@gagnierfc.com
Investor Enquiries
John Groneman, +44 (0) 20 7818 2106, John.groneman@janushenderson.com
Source: Janus Henderson Group