Friday, November 21, 2014

Bill Gross to Manage $500 Million for George Soros

Gross tweeted to Soros:

I & my team will manage your new unconstrained strategic acct. 24h/day.An honour to be chosen & an honour to be earned as well.

The money will be invested in a separate account from the mutual fund that Gross is managing, but will follow the strategy that Gross is using in his Janus Global Unconstrained Bond fund, which has $443 million in assets under management, according to a Janus statement.

By investing in a separate account rather than Gross’s mutual fund, Soros is protected from the movements of other investors, said Todd Rosenbluth, director of mutual-fund research at S&P Capital IQ. If there were a sudden investor inflow or outflow into Gross’s fund, Soros wouldn’t be affected.

Gross in his new fund has adopted a strategy that allows. Gross to buy bonds of all kinds but also bet against certain kinds of debt and use other tactics that provide him considerable flexibility.

1 comment:

  1. The guy can manage millions of dollars, but can't manage proper grammar. "My team and I..." Not "I and my team."
    I'm in the wrong business.