Old Mutual Global Investors (OMGI) has transferred the management of its $272m Old Mutual Total Return USD Bond fund back to Bill Gross at Janus Capital Group from his previous firm Pimco.
Janus Capital will take over the management of the fund, which is sub fund of the Dublin domiciled Old Mutual Global Investors Series, on 6 July 2015.
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Gross had run the fund on an outsourced basis for OMGI since its launch in April 2002 until his departure from Pimco, following which he joined Janus Capital.
OMGI global head of distribution Warren Tonkinson said: "We have a long standing relationship with Bill Gross and believe that clients who chose to be invested with him in the Old Mutual Total Return USD Bond Fund will benefit from this change.
"Bill has a vast amount of experience and an outstanding track record and we look forward to working with him and the team at Janus."
Gross said: "Old Mutual is an ‘old friend’ that always had faith in me at PIMCO and now has expressed confidence in me at Janus. They will get our best efforts and sincere thanks for the opportunity."
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