Name: Bill Gross
Uploaded: 2014-09-26
Duration: 1 min 39 s
Description: Bill Gross

Fund manager William H. Gross is leaving Pacific Investment Management for Janis Capital. Gross founded Pacific Investment Management, or PIMCO, in 1971. And helped build it into one of the largest money managers in the world. But guru focus reports recent months have seen the fund shed nearly. $ 70 billion in assets. At news of Gross' departure in a quiet press release on Friday comes after a Wall Street Journal report earlier this week that the SCC is investigating PIMCO for possible fund mismanagement. And even looking at pricing issues at PIMCO and specifically- This one exchange rate fund each year. And the issues they've looked at are why it's done so well, whether there are some pricing issues involved or not. Still, Pimco's straits aren't exactly dire. The company oversees nearly two trillion dollars in assets after all. So, Gross's move surprised industry watchers who characterize joining his. Former rival, as a shock to Wall Street and the bond industry. Market Watch rights one regulatory probe does hardly a horrible year make when you run a world- beating operation the scope and size of Pimco and have a decades- long, wildly successful trading record, but. It seems a theme is developing. According to CNBC, sources said Gross had trouble getting along with other members of the firm. Those sources citing the reason for his firing being because of what was cited as increasingly erratic behavior. On his part. But it appears not so erratic that he can't get another job. Gross will head up the global unconstrained bond fund at Janus, where he will take the reins October 6th.