Investors pulled an estimated $47 million last month from the Janus Global Unconstrained Bond Fund run by Bill Gross as his performance this year trailed a majority of rivals.
The bond fund at Janus Capital Group Inc. now oversees about $1.38 billion, according to data compiled by Bloomberg. The fund lost 1.4 percent this year, worse than 68 percent of other unconstrained bond pools.
Gross took over the fund in October 2014 after he suddenly left Pacific Investment Management Co. the month before. Gross, in an interview earlier this month, said he had been betting that Treasuries would trade within a certain range, capped by deflationary forces, such as debt, demographics or commodities, and supported on the lower side by central banks and money creation. He also predicted U.S. equities had further to fall.