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Big redemption marks end of Gross' 1st year : Institutional investor yanks $500 million from Janus separate account

Nov 02, 2015 - Pensions & Investments

An unidentified institutional investor redeemed nearly $500 million from the unconstrained global bond strategy managed by Janus Capital Group Inc.'s William H. Gross during the quarter ended Sept. 30, slicing about 23% of assets from the strategy.

Data from eVestment LLC show that the investor redeemed $490.1 million.

The withdrawal marks a setback for Mr. Gross, who joined Janus in late September 2014 after an abrupt exit from Newport Beach Calif.-based Pacific Investment Managem...