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Janus Capital Shares Tumble After Soros Said To Pull $500 Million From Gross' Fund

Tyler Durden's picture




 

Janus Capital shares have tumbled back from earlier gains after WSJ reports that a firm run by George Soros has pulled a $500M investment with Bill Gross. The represents the unwind of a $500 million investment Soros made in Gross almost exactly one year ago.

 

 

As The Wall Street Journal reports,

George Soros’s firm has pulled its roughly $500 million investment with  Bill Gross, less than a year after the billionaire investor gave the former bond king his stamp of approval, according to a person familiar with the matter and industry data.

 

The move is a blow to Mr. Gross, who has struggled with poor performance and outflows at his Janus Global Unconstrained Bond fund since he left Pacific Investment Management Co. last year. The money invested by Soros Fund Management was held in a separate, institutional account that followed a similar strategy as Mr. Gross’s mutual fund.

 

Industry data provider eVestment LLC, which tracks institutional accounts at fund firms, confirmed that $490 million wasn’t reported by Janus in separate accounts managed by the firm between the second and third quarter. The trade publication Pension & Investments earlier reported on the $490 million outflow, but P&I didn’t identify the party that made the withdrawal.

There are no details as yet on reasons, but one might suspect performance is among them...

 

And an artist's impression of the new "Market-adjusted" Janus Tombstone...

Never has the term 'Tombstone' been so prophetic.
 

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Mon, 11/02/2015 - 12:32 | 6739861 One And Only
One And Only's picture

He needs the money to create a crisis or some problem somewhere.

FUCKING DIE

Mon, 11/02/2015 - 12:34 | 6739866 OrangeJews
OrangeJews's picture

It takes a lot to feed and pay refugees.

Mon, 11/02/2015 - 12:50 | 6739939 NoDebt
NoDebt's picture

Bill's too busy wirting articles about death to spend much time managing his fund.

Hey, I just realized something Gross and Soros have in common- they both think about death a lot, just in different ways.

Mon, 11/02/2015 - 13:48 | 6740137 knukles
knukles's picture

I told him not to put that "Fuck the NWO" bumper sticker on his Maybach. 

Mon, 11/02/2015 - 16:03 | 6740666 Leopold B. Scotch
Leopold B. Scotch's picture

Soros, the King of Democratic  Reform NGOs that are shallow fronts for staging coups in countries so he can install bankers that will enable him to fleece the currency / people like he did to users of Asian Currencies in the late 1990s.

That's a fleecing democrat voters can defend, leading to contributions to their candidates they can support. 

 

F the Krooked Kochs, tho.

Mon, 11/02/2015 - 13:59 | 6740179 KnuckleDragger-X
KnuckleDragger-X's picture

ND, anytime I see the name Soros, I think anal rape. Something is happening in the sewers......

Mon, 11/02/2015 - 12:32 | 6739863 Max Damage
Max Damage's picture

Off to start another war or somat?

Mon, 11/02/2015 - 12:38 | 6739895 Dr. Engali
Dr. Engali's picture

I'm sure he's going to do something philanthropic with the funds, like destroy a nation, or fund a flesh eating virus.

Mon, 11/02/2015 - 12:39 | 6739898 Falconsixone
Falconsixone's picture

Knock him out!!

Mon, 11/02/2015 - 12:44 | 6739920 pndr4495
pndr4495's picture

Some scumbags in the BIG BOYS CLUB made a handsome profit from keeping that info close to the vest, if in fact it is true.

Mon, 11/02/2015 - 13:17 | 6740040 Angry Plant
Angry Plant's picture

The best deals are no longer public.

He needs his 500 million back to make a deal worth a lot more then 500 million with some desperate company.

Mon, 11/02/2015 - 13:23 | 6740059 Bill of Rights
Bill of Rights's picture

Yes but look at the tape, they jack rigged the morning price only to slam it down to the original opening price so the losses were contained...amazing the corruption that goes on unabated in this market place,.

Mon, 11/02/2015 - 13:45 | 6740122 83_vf_1100_c
83_vf_1100_c's picture

Muppets get killed so the 0.1% can continue to raise their paper wealth. Same as it ever was with a tech twist.

I can't even wrap my brain around the kind of power moving around $500mm must give one. I'd probably become a flaming asshole. Struggling as I am trying to remain in the middle class y'all are safe, from me.

Mon, 11/02/2015 - 13:39 | 6740106 astoriajoe
astoriajoe's picture

Tumble? sounds like a blessing to me. 

Mon, 11/02/2015 - 14:07 | 6740206 Jack Daniels Esq
Jack Daniels Esq's picture

Fuck Soros

Mon, 11/02/2015 - 14:48 | 6740324 wizteknet
Mon, 11/02/2015 - 15:29 | 6740524 CarpetShag
CarpetShag's picture

The fund's founder, Jay Anus, could not be reached for comment.

Mon, 11/02/2015 - 18:37 | 6741364 BillGrossJr.
BillGrossJr.'s picture

That's why we're suing Pimco, BITCHEZ!

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