'Bond King' Bill Gross moving to Janus Capital
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The biggest star in the bond market shocked the financial world Friday by leaving the money management firm he has led for four decades and joining a smaller rival. Bill Gross, who cofounded the investment giant Pimco in 1971 and runs its $222 billion Total Return Fund, said he would join Janus Capital Group. Gross has trounced rivals for years, earning the title ''bond king.'' He will develop bond investment strategies at Janus and run a recently launched fund.
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