Bill Gross’ Janus fund draws big bucks as performance picks up

Bill Gross’s bond fund at Janus attracted $6.8 million in new investor money in March as performance stabilized, helped by a bet that the dollar’s rally won’t continue.
The new money brought assets in the Janus Global Unconstrained Bond Fund to $1.46 billion, according to data compiled by Bloomberg. The fund in February had its first month of net withdrawals since Mr. Gross joined.
(More: Bill Gross’ contrarian bet against the dollar helps him regain footing)
Janus Unconstrained has returned about 2.9% in the past month, reversing losses in the first five months. Mr. Gross, who co-founded Newport Beach, Calif.-based Pacific Investment Management Co. in 1971, joined Janus Capital Group Inc. last year after losing a power struggle at Pimco.
He has said he’s investing to “show clients and the world” that he can still win after leaving Pimco, which he built into a $2 trillion money manager at its peak. Mr. Gross, 70, said last month he has “two, three, four years” to prove himself at Janus.
(More: Bill Gross using leverage to boost returns at Janus)
Mr. Gross fueled much of the fund’s growth last year as assets surged from about $13 million before he joined. Gross and his family own more than half of the fund as of Dec. 31, according to a filing with the Securities and Exchange Commission.