Monday 18 December 2017

'Bond market king' Bill Gross announces resignation from Pimco

Bill Gross, co-founder and co-chief investment officer of Pacific Investment Management Company (PIMCO), adjusts his sunglasses as he arrives to speak at the Morningstar Investment Conference in Chicago, Illinois, in this file photo taken June 19, 2014. Reuters.
Bill Gross, co-founder and co-chief investment officer of Pacific Investment Management Company (PIMCO), adjusts his sunglasses as he arrives to speak at the Morningstar Investment Conference in Chicago, Illinois, in this file photo taken June 19, 2014. Reuters.

California based “bond market king” Bill Gross has announced his surprise resignation from Pimco, the worlds biggest bond investor which he founded in 1971.

Bill Gross is one of the bond market’s most high profile investors and will join for rival asset management firm Janus Capital Group.

Shares in German insurer Allianz, which owns Pimco fell today after Janus announce the news. The Wall Street Journal reported earlier this week that US securities regulators were investigating Pimco.

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