Bill Gross has said that having too many decision makers in an asset management business can be detrimental to portfolios, following his sudden departure from PIMCO.
I am still not ready to move negative duration
Last week Bill Gross quit PIMCO - the firm he founded - to join Janus Capital in a move which had ramifications for many investors. Now as outflows on his PIMCO Total Return fund mount, where should investors turn?
The PIMCO Total Return bond fund shed a net $23.5bn in September, latest figures show, as outflows accelerated following Bill Gross' departure.
How big a risk to bond market liquidity is Bill Gross' shock exit?
PIMCO's Dan Ivascyn has been named as Bill Gross' successor following the legendary bond investor's resignation, but three other managers will take over the $221bn Total Return Bond fund.
The recent sell-off in high yield means opportunities in the 'rising stars', housing, and building materials sectors, explains PIMCO's deputy CIO Mark Kiesel.
PIMCO founder Bill Gross, manager of the PIMCO Total Return fund, has quit the group to join Janus Capital.