Bill Gross's New Janus Fund Rises to $1.2 Billion in Assets -- Update

By Kirsten Grind 

Investors poured $770 million into Bill Gross's new mutual fund at Janus Capital Group Inc. in November, pushing the fund past $1 billion of assets under management, according to data released Monday morning by fund research firm Morningstar Inc.

The pace of monthly inflows was the highest since Mr. Gross took over the fund after his Sept. 26 departure from Pacific Investment Management Co., the money manager he co-founded.

Since Mr. Gross came on board at Janus, the Janus Global Unconstrained Bond fund has swelled from about $12 million in assets under management to $1.2 billion at the end of November, according to Morningstar. Other mutual funds at Janus also have seen new investor money, reversing a long period of decline at the Denver-based firm.

"We are doing exciting things here at Janus Capital and are pleased it is beginning to be recognized by clients and advisors," a Janus spokesman said in a statement. "Our story features Bill Gross and his Global Unconstrained Bond fund, of course, but has been under way for some time and is much deeper than Bill alone."

Janus said in its statement that inflows across all of its mutual funds were net positive for the month, although it didn't release specific figures. The inflows across the Janus funds in October and November mark the first time the firm has seen two consecutive months of inflows since the first quarter of 2010, according to the firm.

Still, the amount of money flowing into Mr. Gross's new fund is just a fraction of the amount leaving Pimco. The Newport Beach, Calif.-based firm has seen about $60 billion in investor outflows between September and November just in Mr. Gross's former flagship fund, the Pimco Total Return fund. Pimco competitors such as BlackRock Inc. and Vanguard Group appear to have captured far more of the outflows.

Janus saw $66.4 million of inflows into Mr. Gross's fund in September, and $443 million in October, according to Morningstar.

Write to Kirsten Grind at [e-mail]

Access Investor Kit for Allianz SE

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=DE0008404005

Access Investor Kit for Allianz SE

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US0188051017

Access Investor Kit for BlackRock, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US09247X1019

Access Investor Kit for Janus Capital Group, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US47102X1054

Access Investor Kit for Morningstar, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US6177001095

Subscribe to WSJ: http://online.wsj.com?mod=djnwires