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