Bill Gross Leaves PIMCO And Joins Janus Capital

PIMCO founder and longtime CIO Bill Gross has left the company to manage the Janus Global Unconstrained Bond Fund, starting on Monday according to a press release, posted in its entirety below. Since Gross is still listed as CIO and managing director as of this writing, the decision may have caught PIMCO by surprise as well.

This surprise announcement follows a year of heavy redemptions from PIMCO as investors question whether the bond market has much of a future with rates as low as they are, the sudden and dramatic...