Janus Henderson Announces the Retirement of William H. Gross
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).
Erin Passan, +1 949-922-2112, firstname.lastname@example.org
John Groneman, +44 (0) 20 7818 2106, John.email@example.com
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Gilead Announces Latest Data in Ongoing HIV Cure Research Program23.7.2019 20:00:00 CEST | Press release
Gilead Sciences, Inc. (NASDAQ: GILD) today presented results from two studies of investigational toll-like receptor 7 (TLR7) agonists as part of an HIV cure research program. The Phase 1 and preclinical study results demonstrate that the TLR7 agonists vesatolimod (GS-9620) and GS-986 can induce immune activation and follow earlier preclinical research suggesting that TLR7 agonists can potentially lead to viral remission, as part of combination regimens. The HIV viral reservoir is present even in virologically suppressed individuals and its elimination is regarded as a main obstacle to achieving a cure. The data were presented at the 10th International AIDS Society Conference on HIV Science (IAS 2019) being held in Mexico City. “While treatments have improved dramatically, people living with HIV still face a lifetime of therapy and potential complications. That reality drives our ongoing pursuit of a cure for HIV,” said Diana Brainard, MD, Senior Vice President, HIV and Emerging Viruses
Moody’s Analytics Wins Best Reporting System Provider in Waters Rankings23.7.2019 15:30:00 CEST | Press release
Moody’s Analytics, a global provider of financial intelligence, has won the award for Best Reporting System Provider in the 2019 Waters Rankings. We earned this recognition for our regulatory reporting solution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190723005679/en/ For banks and insurers, staying on top of regulatory changes is critical. Our end-to-end solution handles the entire reporting process, producing 3,000 different regulatory reports covering more than 50 jurisdictions. It automatically delivers all required updates well in advance of the relevant deadlines and makes it easy for clients to review, adjust, audit, and validate their reports. The Moody’s Analytics regulatory surveillance team boasts a wealth of experience in both local and international domains going back decades. They monitor more than 100 supervisor websites to ensure that our clients receive the updates they need in a timely fashion. “Regu
Gilead Presents New Findings on Profile of Descovy® for Potential Use as HIV Pre-exposure Prophylaxis Compared With Truvada®23.7.2019 15:00:00 CEST | Press release
Gilead Sciences, Inc. (NASDAQ: GILD) today presented additional results from the DISCOVER trial evaluating an investigational use of Descovy (emtricitabine 200 mg and tenofovir alafenamide 25 mg tablets; F/TAF) for HIV pre-exposure prophylaxis (PrEP). In a sub-analysis of the DISCOVER trial, Descovy reached intracellular drug concentration levels above the estimated protective threshold significantly more quickly than Truvada (emtricitabine 200 mg and tenofovir disoproxil fumarate 300 mg tablets; F/TDF), and additional pharmacokinetic data confirm that these drug concentration levels persist longer than Truvada. The results were presented at the 10th International AIDS Society Conference on HIV Science (IAS 2019) being held in Mexico City. “Gilead is committed to driving advances in HIV prevention and supporting broader public health initiatives that are designed to reduce HIV infections,” said Diana Brainard, MD, Senior Vice President, HIV and Emerging Viruses, Gilead Sciences. “These
Velodyne Lidar Acquires Mapper.ai for ADAS Launch23.7.2019 15:00:00 CEST | Press release
Velodyne Lidar, Inc. today announced it has acquired mapping and localization software as well as intellectual property assets from Mapper.ai. Mapper technology will enable Velodyne to accelerate development of Vella™, breakthrough software that establishes its directional view Velarray™ lidar sensor. The Velarray is the first solid-state Velodyne lidar sensor that is embeddable and fits behind a windshield, as an integral component for superior, more effective advanced driver assistance systems (ADAS). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190723005257/en/ In addition to ADAS, Velodyne will incorporate Mapper technology into lidar-centric solutions for other emerging applications, including autonomous vehicles, last-mile delivery services, security, smart cities, smart agriculture, robotics, and unmanned aerial vehicles. (Photo: Business Wire) Mapper’s entire leadership and engineering teams will join Velodyne, bol
Wealthy Americans are increasingly willing to invest, new UBS survey finds23.7.2019 14:12:00 CEST | Press release
US high net worth individuals and business owners are expressing growing intentions to invest as US markets continue to hit record highs in 2019, according to UBS Global Wealth Management's new quarterly Investor Sentiment survey. The survey, which polled more than 3,800 wealthy investors and entrepreneurs in 17 countries, also shows US investors remain positive on the U.S. stock market but continue to rank politics and the national debt as top concerns. Fifty percent of US investors see a diversified portfolio as a hedge against US-China trade tensions specifically, in line with UBS GWM's own views, compared with 41% who favor cash. Filippo Ilardi, US Client Strategy Officer at UBS Global Wealth Management, says: "We are pleased to see a substantial increase in investors willing to put more money in the market. Wealthy Americans are concerned about the political environment and US-China trade tensions but we are encouraged that they see diversification as an important way of managing
Andersen Global Expands into Ghana23.7.2019 13:30:00 CEST | Press release
Ghana law firm, Sam Okudzeto & Associates, signed a collaboration agreement with Andersen Global, marking Andersen Global’s presence in 13 African countries and over 51 countries worldwide. Located in the capital of Accra, Sam Okudzeto & Associates is one of the largest law firms in Ghana. For the past 48 years, the firm has provided legal advice and guidance in the corporate and commercial areas, including patents and trademarks, mergers and acquisition, tax advisory, corporate banking, international trade and investment, debt recovery, mining and mineral law, industrial and labor, aviation, maritime law, petroleum oil and gas, and intellectual property. Sam Okudzeto & Associates founder and Managing Partner, Sam Okudzeto and Nene Amegatcher, have led the team since the establishment of the firm until Nene Amegatcher was elevated to the Supreme Court. The firm now has four partners and 18 lawyers who have gained international reputation for their keen knowledge and experience with Alt