Bond guru Jeffrey Gundlach said he expects the Fed to raise rates in 2015, but not on the strength of economic fundamentals.» Read More
Oct 3- Bond star Bill Gross so far has requested only one trader for his new gig at Janus Capital Group Inc, according to a report from mutual fund research firm Morningstar Inc.. Gross last week rattled global bond markets with his surprise departure from Pacific Investment Management Co, where he ran the massive $222 billion Pimco Total Return Fund.
Oct 2- Charles Schwab Corp has dropped the Pimco Total Return Fund from its 10 target date funds and collective trusts, a company spokeswoman told Reuters on Thursday. The retail target date funds have $2.9 billion in assets- $141 million of which had been in the Pimco Total Return Fund. Schwab is looking for a replacement for the Pimco fund and has temporarily...
Oct 2- As bond traders began what they thought would be a quiet day last Friday, a simple headline crossed their screens: " William H. Gross joins Janus Capital." Several asset managers and traders wondered whether the news was about Pimco's co-founder, known to most on Wall Street simply as Bill Gross, or someone else with the same name. Clients immediately started...
Oct 2- Warren Buffett, the billionaire chairman and chief executive officer of conglomerate Berkshire Hathaway Inc, praised Coca-Cola's altered executive compensation plan on Thursday. Buffett also said Burger King Worldwide Inc's $11.5 billion purchase of Tim Hortons Inc was not a tax-motivated deal. " Berkshire committed $3 billion in preferred equity...
LONDON, Oct 2- Bill Gross' exit from Pimco has seen billions of dollars leave the fund group and even more value wiped off the share price of its parent company, offering a warning both to firms who rely on star managers and the investors who chase them. Gross's flagship Pimco Total Return Fund lost money every month from May last year, totalling nearly $70 billion by...
WASHINGTON, Oct 1- The U.S. bond market may be teetering on the brink of a "liquidity cliff" and appears to be an asset "bubble" that could burst once interest rates start to rise again, a top U.S. securities regulator said on Wednesday. "Everybody knows that this is a cliff that is coming," said Securities and Exchange Commission Republican member Daniel Gallagher, in...
BOSTON, Oct 1- Vanguard Group's global bond chief said Wednesday the company has tightened controls at some of its long-term bond funds to screen out "hot money" amid heavy cash outflows from rival Pacific Investment Management Co..
BOSTON, Oct 1- Vanguard Group's global fixed income chief said Wednesday the company has tightened controls at some of its long-term bond funds to screen out "hot money" amid heavy cash outflows from rival Pacific Investment Management Co..
FRANKFURT, Oct 1- German insurer Allianz, still smarting from the sudden resignation of Bill Gross, founder of its Pimco asset management unit, is expected to break its own age rules by extending the contract of Chief Executive Michael Diekmann on Thursday.
NEW YORK, Sept 30- Pimco intends to expand its equities business and there will be no difference in the firm's portfolio management following the departure of former Chief Investment Officer Bill Gross, two top Pimco executives said on Tuesday.
NEW YORK, Sept 30- British wealth manager St. James's Place has replaced Pimco as the manager of its Multi Asset fund, less than a week after the resignation of Pimco's Chief Investment Officer, Bill Gross, roiled global fixed income markets.
Gross, a 70- year-old with a fabulous long-term record of performance as a bond manager but some rocky recent data, resigned suddenly on Friday from Pimco to jump to smaller rival Janus Capital, a move reports said came just before he was to be dumped.
Morningstar downgraded Pimco's Total Return fund on uncertainty regarding outflows and management following the departure of Bill Gross.
NEW YORK/ BOSTON Sept. 30- Vanguard Group and BlackRock Inc could be prime destinations for hundreds of billions of dollars in assets that may flee Pimco in the wake of the sudden exit of Bill Gross, the celebrated "Bond King" of U.S. mutual funds.
Sept 30- Bill Gross's sudden departure from Pimco and the Total Return Fund he ran for 27 years was the last straw for Jim Phillips, president of Retirement Resources, a Peabody, Massachusetts- based firm that advises 401 plans with $50 million to $100 million in assets.
Sept 30- Morningstar downgraded its analyst rating on the Pimco Total Return Fund to "bronze" from "gold," citing uncertainty about outflows and the reshuffling of management responsibilities after the exit of co-founder Bill Gross.
NEW YORK, Sept 29- Shock and disbelief lingered at Pimco's sleek Newport Beach, California, headquarters on Monday, 72 hours after the investment firm was rocked by the sudden defection of co-founder Bill Gross to far-smaller rival Janus Capital Group. "We lost Mohamed El-Erian in January and now Bill Gross.
*Allianz not planning closer Pimco oversight. FRANKFURT/ NEW YORK, Sept 29- Top executives of Pimco and its German parent, Allianz SE, scrambled on Monday to stem the outflow of money after the stunning exit of star bond manager Bill Gross last week, but even after months of internal strife Allianz said it plans to let Pimco continue to steer its own ship.
With all the buzz around bond indexes, the next big thing for mutual fund investors may be strategies that are the exact opposite.
Bonds gained as civil unrest in Hong Kong weighed on stocks and the yield curve flattened as investors bet that econ data would continue to improve.