Janus Profit Up After Gross Helps Bring First Inflows Since 2009

Ted

FYI: Denver asset manager Janus Capital Group said fourth-quarter profit rose 22 percent after its hiring of star bond fund manager Bill Gross helped it reach its first quarter of net deposits since 2009.
Regards,
Ted
http://www.reuters.com/assets/print?aid=USL1N0V01AC20150122

David_Snowball

Uhhh ... reportedly much of the net deposits came from Gross to Gross. Let's say he transferred a half billion dollars to himself and that he invested it in JUCIX, the institutional class of his own fund. The expense ratio there is 0.83%.

(mumble, mumble, scribble) 0.0083 x 500,000,000 is ... ummmm ... he's charging himself $4,150,000 for managing his personal fortune.

Let me tell you about the very rich. They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft, where we are hard, cynical where we are trustful, in a way that, unless you were born rich, it is very difficult to understand.
F. Scott Fitzgerald, "The Rich Boy" (1926)

David

JohnChisum

Well, even the chairman at Janus didn't know where all the money came from.

Old_Joe

Probably safe to say that over the long haul the money didn't come from Gross... he acquired the money from folks like us.

catch22

The current report is that Mr. Gross placed $700 million of his own monies into the fund. At the current return rate of -1.06% since fund inception, Mr. Gross is down $7,420,000; if the money was placed on day 1. Janus reportedly placed $100 million starter money.

Ted

@MFO Members: The curent report Gross put #700 million of his own money into the fund.
regards,
Ted
http://www.bloomberg.com/news/print/2015-01-22/gross-put-more-than-700-million-in-unconstrained-fund.html