Kumar Palghat Is Out as Bill Gross's Co-Manager on Janus Fund
July 28 2016 - 4:30PM
Dow Jones News
Bill Gross's co-manager on the Janus Global Unconstrained Bond
Fund is out after roughly a year in the position, Janus Capital
Group Inc. said Thursday.
Kumar Palghat will no longer help Mr. Gross manage the fund but
will co-manage a new active fixed-income exchange-traded fund, the
Denver-based asset manager said. Mr. Gross joined Janus in 2014
after a contentious exit from his old company, Pacific Investment
Management Co.
Mr. Palghat, a former Pimco executive, was named co-manager of
the Global Unconstrained Bond Fund in 2015 after Janus bought a
majority interest in Kapstream Capital Pty Ltd., an Australian-U.S.
global bond firm he founded.
A filing Janus made Thursday with the Securities and Exchange
Commission removes Mr. Palghat's name from Janus Global
Unconstrained Bond Fund's "investment personnel" section.
"Effective July 28, 2016, references to Kumar Palghat are deleted,"
the filing says.
Janus said Mr. Palghat will co-manage the Janus Short Duration
Income ETF with Nick Maroutsos. The fund "represents an expansion
of Janus's global marco fixed-income lineup," the firm said.
Mr. Gross declined to comment through a spokesman. A Janus
spokeswoman didn't immediately respond to a request for
comment.
Write to Daisy Maxey at daisy.maxey@wsj.com
(END) Dow Jones Newswires
July 28, 2016 16:15 ET (20:15 GMT)
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