Soros Pulls $500 Million Investment With Bill Gross, WSJ Reportsby
Soros invested with Gross after his departure from Pimco
Gross's new fund at Janus trails 71 percent of peers in 2015
George Soros’s investment firm has pulled a $500 million investment with Bill Gross that it made last year after the bond manager left Pacific Investment Management Co. to run a new fund at Janus Capital Group Inc., the Wall Street Journal reported, citing industry data and a person familiar with the matter.
The money invested by Soros Fund Management was held in a separate, institutional account that followed a similar strategy as Mr. Gross’s mutual fund, the newspaper said.
Gross’s fund at Janus, the $1.38 billion Janus Global Unconstrained Bond Fund, declined 1.2 percent this year, trailing 71 percent of similar funds, according to data compiled by Bloomberg. Gross personally invested $700 million in the Unconstrained Fund, according to a January filing.
Janus spokeswoman Erin Passan declined to comment.