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Fund Spy

A Look at Janus' Big New Hire

Should investors flock to Janus now that Bill Gross has joined the firm?

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PIMCO has gotten a lot of attention in the past couple of days, and rightfully so. Many investors need to consider the changes at that firm brought about by Bill Gross' departure and the implications for PIMCO's funds. But those interested in following Gross to Janus or investing with him for the first time have some other factors to consider. Similarly, existing investors in Janus fixed-income funds need to think about Gross' impact on that operation, which is currently run quite capably by fixed-income chief investment officer Gibson Smith.  

Janus Global Unconstrained Bond and Beyond
Effective Oct. 6, 2014, Gross will take the reins of Janus Global Unconstrained Bond (JUCIX), a fund that Janus launched in May and was originally intended as a best-ideas portfolio for Smith and comanager Darrell Watters. Janus hasn't yet provided specific prospectus changes, but the offering will be tailored to Gross' top-down, macrocentric portfolio-management style.

Sumit Desai, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.