Investors Pulled $11.7 Million From Gross's Janus Fund in May

Investors pulled $11.7 million from Bill Gross's new mutual fund at Janus Capital Group Inc. in May, continuing months of lackluster investor interest, according to new data Monday from fund-research firm Morningstar Inc.

Assets in the Janus Global Unconstrained Bond fund totaled $1.5 billion at the end of May, unchanged from the previous month. Asset totals also take into account appreciation.

Mr. Gross, formerly the star bond-fund manager at Pacific Investment Management Co., has seen his performance stumble in recent weeks amid a bond-market selloff. So far this year through June 5, his fund has lost .49%, following a period of strong performance, according to Morningstar.

A Janus spokeswoman declined to comment.

Mr. Gross has had trouble attracting investor money into his fund since his abrupt departure from Pimco last September. Of the more than $100 billion that has left Pimco's flagship Total Return fund, which Mr. Gross used to manage, he has received just a fraction. Of $1.5 billion in assets under management in his fund, more than $700 million is Mr. Gross's own money, the company has said.

In March and April, the fund saw about $70 million of inflows combined, but an outflow of $18.5 million in February.

Write to Kirsten Grind at [e-mail]

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