Bill Gross’s new mutual fund at Denver-based Janus Capital Group Inc. saw net inflows of $176 million in December, down significantly from the previous month, according to data released Friday by fund tracker Morningstar Inc.
The Janus Global Unconstrained Bond fund saw its assets rise to $1.4 billion at the end of the month, the third month since Gross began running the fund on Oct. 6.
But the source of the money flowing into the fund is unclear. The Wall Street Journal reported Wednesday that the majority of the roughly $1.1 billion Gross raised in the fund in October and November came from a brokerage in Southern California where Gross’s personal financial adviser works. Gross has confirmed that at least part of that was his money.
Morningstar doesn’t have the ability to show where asset flows are coming from. Two Janus spokesmen didn’t immediately return a request for comment.
The firm hasn’t publicly disclosed an investment by Gross, and Janus’s board chairman told the Journal in an interview Thursday that he wasn’t aware of the size of Gross’s investment.
The Janus Global Unconstrained Bond fund took in $770 million in inflows in November and $364 million of inflows in October, according to Morningstar. Since Gross took over running the fund through Jan. 6, it has lost 1.1 percent and lagged 52 percent of its peers.
All of Janus’s mutual funds saw net inflows of $440 million in December, according to the fund tracker.
Gross abruptly departed Pacific Investment Management Co., the firm he co-founded, in late September after battling with other senior executives, the Journal has reported.
