Two analysts told CNBC that they saw no traces of a stock bubble and even said that the market is undervalued at the moment.» Read More
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.
FRANKFURT/ NEW YORK- Officials from Pimco and its German parent Allianz scramble to contain the fallout from star bond manager Bill Gross' stunning exit last week, and money continues to leave the firm, giving a huge boost to rival bond houses like DoubleLine, which saw record inflows. Canada's Encana to buy Athlon Energy for $5.93 bln.
After the spectacular blowup and exit at Pimco, a lot of people say Bill Gross is crazy. He's many things—but crazy he is not, says Ron Insana.
*Allianz CEO Diekmann says "fully committed" to Pimco. FRANKFURT, Sept 29- Allianz said on Monday it remained fully committed to its Pimco unit after the shock exit of co-founder Bill Gross and had no plans to step up oversight of the world's biggest bond investor despite months of turmoil that has hit the German insurer's shares.
Officials from Pimco and Allianz looked to downplay the loss of Gross, who founded the firm 43 years ago.
*Allianz says Gross departure does not change Pimco relationship. FRANKFURT, Sept 29- German insurer Allianz says it has no plans to increase oversight of its California- based investment unit Pimco after the shock departure of co-founder Bill Gross sent shares in the Munich- based parent tumbling at the end of last week.
Sept 28- Pimco CEO Doug Hodge said on Sunday that Pimco is moving away from a founder-led model and that the Newport Beach, California- based firm's flagship fund previously run by co-founder Bill Gross "does not define Pimco."
In a wide-ranging conversation, Bogle held forth on the Federal Reserve, hedge funds, and how individuals can "own their age."
NEW YORK, Sept 27- For Bill Gross, quitting Pimco's $222 billion Total Return Fund to take over a $13 million fund at Janus Capital is like resigning the U.S. presidency to become city manager of Ashtabula, Ohio, population 18,800..
"I'm telling you, it didn't get a lot of attention, but this is what made the market go up," Cramer said.
The sudden exit of Bill Gross from Pimco sparked a knee-jerk selloff in the Treasury market, a drop in Pimco closed-end funds and rallies in competitors' shares.
Bond guru Bill Gross is joining Janus Capital Group, effective Sept. 29, the company announced Friday.
Up and down Wall Street stunned investors were scratching their heads and asking one another "What happened?"