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Janus Chairman Didn’t Know Details Of Gross’s Investment

TedTed
in Fund Discussions
FYI: (Click On Article Title At Top Of Google Search)
The chairman of Janus Capital Group Inc. said he didn’t know that a single California brokerage office that handles money for Bill Gross accounted for a vast majority of the cash in Mr. Gross’s new mutual fund at the company.

“I had no idea” how much of the fund was made up of money from the brokerage office “because I had no idea who Bill uses as a financial adviser,” said the chairman, Glenn S. Schafer
Regards,
Ted
https://www.google.com/search?newwindow=1&site=&source=hp&q=janus+chariman+wsj&oq=janus+chariman+wsj&gs_l=hp.3...1480.8125.0.8666.18.18.0.0.0.0.155.1119.17j1.18.0.msedr...0...1c.1.60.hp..6.12.814.EOuS7Ke02k8

Comments

  • JohnChisum
    So the emperor is wearing no clothes?

    I think a lot of people saw the inflows and figured it was investors following Bill from Pimco. Now the real story is coming out.
  • msf
    Look on the bright side. They say the more money a manager has invested in his fund, the better it is for the other investors. Gosh, are they going to be a bunch of happy investors now. :-)
  • JohnChisum
    I have to say, knowing the history over at Janus, that was a very stupid thing for the chairman to say.
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