By: Jeff Benjamin
Just like that, Janus Capital Group Inc. has become a fresh new face in the bond fund universe with the abrupt and unexpected signing of Pimco co-founder and fixed-income guru Bill Gross.
“The market sees this as a huge shot in the arm for Janus,” said Jeff Tjornehoj, head of Lipper Americas Research, citing the early 35% spike in Janus’ stock price today.
With just $13 billion in total bond fund assets, compared with $67.8 billion in equity fund assets, Janus is still small potatoes for Mr. Gross, who is used to dealing in trillions at Pacific Investment Management Co. But the trend is certaRead More »