Allianz Stands By PIMCO’s Bill Gross Amid Woes

Bill Gross lags behind rivals for the third year in the last four, and investors have pulled $64 billion from PIMCO Total Return Fund since May 2013.

Allianz dubs Bill Gross as an industry legend

Allianz SE (ADR) (OTCMKTS:AZSEY) (ETR:ALV) called PIMCO’s Chief Investment Officer Bill Gross an industry “legend” despite the fact his main fund trails peers and its assets under management shrank to $225.2 billion last month.

Jay Ralph, the German insurer’s management board member responsible for asset management said in an interview in Munich last week: “We want Bill Gross...