Gross Investors Pulled $2.3 Million From Janus Fund in February

  • Redemptions in Unconstrained Fund are smallest since October
  • Fund ranks in top 85 percent of Bloomberg bond peer group

Investors withdrew about $2.3 million from the Janus Global Unconstrained Bond Fund in February, the smallest redemption since October in the $1.26 billion fund managed by Bill Gross.

The fund, which invests in fixed-income securities and derivatives based on global macroeconomic trends, is up 0.8 percent this year through March 7, according to data compiled by Bloomberg. It ranks in the top 85 percent of Bloomberg unconstrained bond fund peers this year.

In his investment outlook last week, Gross said his “secret in a negative interest rate world that poses extraordinary duration risk” is keeping maturities short and using attractive yields to borrow and gain leverage.

“Janus unconstrained portfolios attempt to do that and are inching to the head of its asset universe day by day,” he wrote in the March 3 letter. “No guarantees.”

Investors pulled $14.8 million in January, $57 million in December and $74 million in November after adding $5.9 million in October. Gross manages the fund with Kumar Palghat.

Redemption estimates for the Janus fund are based on the change in assets over the month that isn’t accounted for by performance or reinvested dividends. The number may vary from actual figures and from estimates compiled by other data providers.

Janus spokeswoman Erin Passan declined to comment on the fund’s flows.