Oct. 21 (Bloomberg) — The firm where Bill Gross made his name is showing support for his latest venture.
Pacific Life Insurance Co., the insurer where Pacific Investment Management Co. was started as a bond unit in 1971, is moving some money from Gross's old firm to the one he joined last month, Janus Capital Group Inc.
Pacific Life asked the U.S. Securities and Exchange Commission for permission to move certain separate accounts to Janus Aspen Series Balanced Portfolio from the Pimco Global Multi-Asset Managed Allocation Portfolio, according to filings yesterday. Gross isn't affiliated with the Pimco accounts or the Janus Aspen Series Balanced fund.
"We continue to see a lot of assets in movement across the fixed-income industry and we believe Janus is well positioned to gather flows as a result," Steven Shapiro, a spokesman for Denver-based Janus with Communications Strategy Group, said in an e-mail. "Our Balanced fund has excellent performance and is one of our strategies that we believe will benefit from the changing landscape in the fixed-income industry."
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