Bill Gross’s bond fund dips under $1 billion

By Bloomberg

Investors keep pulling money from Bill Gross’s bond fund.

The Janus Henderson Global Unconstrained Bond Fund suffered about $60 million of redemptions in December, according to Bloomberg estimates. The outflows lowered the fund’s assets to $950.4 million from February’s all-time high of $2.24 billion.

Investors have pulled money for 10 consecutive months since the February peak, in part amid misplaced bets by the fund that rates on U.S. Treasuries and German bonds would converge, a position it later scaled back. Gross piled up a loss of about 4 percent last year, underperforming more than 80 percent of peers, according to data compiled [READ MORE HERE]

Source: OC Register

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