William H. Gross

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William (Bill) H. Gross
BillGross.jpg
Occupation Portfolio Manager
Employer Janus Henderson Group Inc.
Location Newport Beach, Calif.


William (Bill) H. Gross is a retired bond fund manager.

He is the co-founder of Pacific Investment Management Co. (PIMCO) and ran PIMCO's $270.0 billion Total Return Fund as chief investment officer. He is credited with bringing macroeconomic concepts to the management of fixed income assets.[1] Gross was also chairman of the PIMCO Foundation, PIMCO's charitable giving arm. He left Pimco in a battle with its management to join Janus Capital Group on September 29, 2014.

At Janus, he managed the Janus Global Unconstrained Bond Fund and related strategies on October 6, 2014 based in Newport Beach, California.[2] In January of 2015 Janus confirmed that Gross had invested more than $700 million of his own money in the fund, which was renamed the Janus Henderson Global Unconstrained Bond Fund, reflecting the merger between Janus and Henderson Group. Gross announced he was retiring in February 2019 at the age of 74 after four years with Janus Henderson Group.[3][4]

Gross founded PIMCO in 1971 with only several million of assets. Later, as co-chief investment officer, he personally managed Pimco’s flagship, the Total Return fund, which had about $158 billion in assets.

In an October 2005 letter to investors, he warned of the looming subprime mortgage crisis. Almost everybody ignored him. When the housing bubble burst and the financial markets crumbled in 2008, Class A shares of the Pimco Total Return fund were up 4.3 percent, nine percentage points ahead of comparable bond funds.[5]

He is the author of numerous articles on the bond market and has frequently appeared in national publications and media.[6]

Gross was the first portfolio manager inducted into the Fixed Income Analysts Society, Inc.'s FIASI hall of fame for his major contributions to the advancement of fixed-income analysis and portfolio management.[7]

On March 12, 2009, Gross was inducted into the Futures Hall of Fame, which was established in 2005 to commemorate outstanding contributions to the global futures and options community.[8]

Background

After receiving his undergraduate degree, Gross served as a naval officer on a destroyer off the coast of Vietnam.[9]

In the late 1990s, Gross authored Everything You’ve Heard About Investing is Wrong, published by Times Books/Random House [10] and Bill Gross on Investing, published by John Wiley & Sons.[11]

Education

Gross holds a bachelor's degree from Duke University and an MBA from the Anderson School of Management at the University of California, Los Angeles. [12]

Awards

Morningstar named Gross and his investment team Fixed Income Manager of the Decade for 2000-2009 and Fixed Income Manager of the Year for 1998, 2000, and 2007 (the first three-time recipient).

Gross received the Bond Market Association’s Distinguished Service Award in 2000 and became the first portfolio manager inducted into the Fixed Income Analysts Society's hall of fame in 1996.

Latest News

On June 8, 2011, Gross spoke at an investor conference in Chicago, revealing his belief in a potential U.S. dollar crisis and taking short-term risks for long-term gains.[13][14]

References

  1. P&I at 30: The Difference Makers. Golaith/Pensions & Investments.
  2. William H. Gross Joins Janus Capital. Janus Capital.
  3. Bill Gross Invested More Than $700 Million in New Janus Fund. The Wall Street Journal.
  4. Bill Gross Retires After Storied Four-Decade Career in Bonds. Bloomberg.
  5. Treasury’s Got Bill Gross on Speed Dial. The New York Times.
  6. How Main Street Will Profit. Washington Post.
  7. William H. Gross, CFA. PIMCO.
  8. FIA Announces Inductees to Futures Hall of Fame. Futures Industry Association.
  9. FIASI: Induction Speech for William H. Gross. FIASI.
  10. Amazon.com: Everything You've Heard About Investing is Wrong. Amazon.com.
  11. Amazon.com: Bill Gross on Investing. Amazon.com.
  12. PIMCO Experts, William H. Gross. PIMCO.
  13. Pimco’s Gross Says ‘No Regrets’ Over Missing Short-Term Treasury Rally. Bloomberg.
  14. Bill Gross Sees Potential Dollar Crisis. WSJ.