Bill Gross’s bond fund at Janus attracted $6.8 million in new investor money in March as performance stabilized, helped by a bet that the dollar’s rally won’t continue.
The new money brought assets in the Janus Global Unconstrained Bond Fund to $1.46 billion, according to data compiled by Bloomberg. The fund in February had its first month of net withdrawals since Gross joined.
Janus Unconstrained has returned about 2.9 percent in the past month, reversing losses in the first five months. Gross, who co-founded Newport Beach, California-based Pacific Investment Management Co. in 1971, joined Janus Capital Group Inc. last year after losing a power struggle at Pimco.
He has said he’s investing to “show clients and the world” that he can still win after leaving Pimco, which he built into a $2 trillion money manager at its peak. Gross, 70, said last month he has “two, three, four years” to prove himself at Janus.
Gross fueled much of the fund’s growth last year as assets surged from about $13 million before he joined. Gross and his family own more than half of the fund as of Dec. 31, according to a filing with the U.S. Securities and Exchange Commission.