Investors are pulling money from Bill Gross' new bond fund
After enjoying a few months of inflows, Bill Gross' new bond fund at Janus is now seeing money leave.
According to new data from Morningstar, investors in Gross' Global Unconstrained Bond Fund pulled out $18.5 million in February, bringing assets under management down to around $1.45 billion.
That marked the first month of net outflows since the bond king left PIMCO for Janus Capital Group.
Last month, Janus disclosed that Gross had invested more than $700 million of his money into the Global Unconstrained Bond Fund he manages.
Gross left Pimco suddenly last September because of what he called "differences with management over his personality and the firm's business direction."
And meanwhile, cash keeps bleeding from Gross' old portfolio at Pimco. Investors pulled $8.6 billion from the Pimco Total Return Fund last month in the 22nd straight month of outflows.
Janus' family of funds saw net inflows of $449.5 million in February.