Bill Gross’s Janus Global Unconstrained Bond Fund received $66.4 million in client deposits in September, the month Gross announced he was leaving Pacific Investment Management Co. to join Janus Capital Group Inc.
The deposits bring assets at the fund, which Gross started managing this week, to $79.1 million, according to Chicago-based fund researcher Morningstar Inc.
Gross, who co-founded Pimco in 1971 and ran the world’s largest bond mutual fund, left the firm Sept. 26 after his deputies threatened to quit and management debated his ouster, according to people familiar with the matter. His departure prompted investors to review their investments with the firm and move money to competitors.
Gross’ $201.6 billion Pimco Total Return Fund had a record $23.5 billion in redemptions in September, the Newport Beach, Calif.-based firm has said.
Two other large funds that Gross managed, the $18.3 billion Pimco Unconstrained Fund and the $20 billion Pimco Low Duration Fund, also experienced withdrawals, according to Morningstar.
Gross said he expected to have $100 million to manage when he started trading Oct. 6, according to an interview with InvestmentNews. He also told the industry newsletter that he would have a team of five or six people at Janus, including a trader, a credit analyst and another portfolio manager.