Bill Gross to manage OM Total Return $ Bond fund
Bill Gross, who left Pimco to work at Janus, is to take over management of the $272m Old Mutual Global Investors Total Return USD Bond fund.
The fund is a sub-fund of the Dublin domiciled OM Global Investors Series plc. Currently it is sub-advised by Pimco, but Gross and Janus will take over the function on 6 July.
Gross previously managed the fund for some 12 years while at Pimco. Old Mutual said in a statement that it “believes that the change of fund manager is in the best interest of clients who originally chose to be invested with Bill”.
Warren Tonkinson, global head of Distribution at Old Mutual Global Investors, said: “We have a long standing relationship with Bill Gross and believe that clients who chose to be invested with him in the Old Mutual Total Return USD Bond Fund will benefit from this change. Bill has a vast amount of experience and an outstanding track record and we look forward to working with him and the team at Janus.”
“I would also like to take the opportunity to thank Pimco for its support in managing the fund until now.”
Bill Gross said: “Old Mutual is an ‘old friend’ that always had faith in me at Pimco and now has expressed confidence in me at Janus. They will get our best efforts and sincere thanks for the opportunity.”