Hedge fund manager George Soros has withdrawn a $500m investment from the Janus Global Unconstrained Bond strategy managed by Bill Gross, according to reports.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
Signup and gain exclusive members-only insights - all free of charge!
- 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
