Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Gross' Inflows Mostly Came From Close to Home. Duh! Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 8, 2015

Gross' Inflows Mostly Came From Close to Home. Duh!

News summary by MFWire's editors

More than $700 million of inflows that flowed into Bill Gross's new fund in the first two months came from a single wirehouse branch in Southern California. And you shouldn't be surprised which one.

Kirsten Grind and Gregory Zuckerman of the Wall Street Journal report that the Morgan Stanley branch in La Jolla, California (outside San Diego), the branch where one of Gross' personal financial advisors works, accounted for more than 60 percent of the $1.1 billion that flowed into his Janus Global Unconstrained Bond Fund [profile] in October and November after Gross jumped to Janus at the end of September.

So why is this of interest? Business Insider has an idea, and their headline doesn't hide it: "Bill Gross Used A Clever Trick To Get Bigger Investors To Buy Into His New Bond Fund". But wait, aren't we all usually telling investors that they should look for funds where the PMs eat their cooking? And now Gross is being called out for (possibly) being a big investor from the get-go in his new fund ...

Spokespeople for Janus and Morgan Stanley declined to comment to the WSJ. The paper notes that their data, which comes from unnamed sources who saw data from BNY Mellon's Albridge, does not make it clear "whether the money originated from one investor," say Gross the billionaire, "or one financial adviser," say an advisor to Gross the billionaire, "or from more than one." 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use