Gross suffers $500m blow as Soros pulls investment

Withdrawn after just one year

Natalie Kenway
clock

Hedge fund manager George Soros has withdrawn a $500m investment from the Janus Global Unconstrained Bond strategy managed by Bill Gross, according to reports.

The move comes just a year after Soros invested the sum, seen by many as an endorsement for Gross (pictured) after he was fired from previous employer PIMCO. The Financial Times reported Soros' withdrawal was hinted at in Janus Capital filings and confirmed by a number of sources, while the Wall Street Journal reported the move was likely to be down to performance. Gross resurrects 'short of a lifetime' to recover losses Over the past six months to 2 November, the Janus fund has posted a loss of 2.9%, versus the FO Absolute Return sector loss of 0.3%, according to FE Trustnet. Th...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Global

Investment Week launches Geographical Equities Conference 2024

Investment Week launches Geographical Equities Conference 2024

Allianz Global Investors, Downing, EdenTree and Royal London Asset Management among speakers

Investment Week
clock 15 January 2024 • 2 min read
Moody's downgrades China sovereign credit outlook to negative

Moody's downgrades China sovereign credit outlook to negative

Retains A1 rating

Elliot Gulliver-Needham
clock 05 December 2023 • 2 min read
ECB warns high rates are pushing economy towards fragility

ECB warns high rates are pushing economy towards fragility

‘Early signs of stress’ in banks

Elliot Gulliver-Needham
clock 22 November 2023 • 2 min read
Trustpilot