Morningstar Analyst: Possible 'Hundreds of Billions' in Pimco Funds to Leave With Gross
27 September 2014 - 4:18AM
Dow Jones News
A Morningstar analyst Friday said it is possible that "hundreds
of billions" in assets under management at Pacific Investment
Management Co. will follow former chief investment officer Bill
Gross to his new post at Janus Capital Group Inc. (JNS).
In a commentary posted on its website, Vincent Lui said the firm
has placed Pimco parent company Allianz SE (ALIZF) under
review.
"We expect to lower our fair value estimate, as it is likely
that ten of billions, if not hundreds of billions in (assets under
management) will follow Gross," Mr. Lui said. Results at Allianz,
he noted, have been "clearly weighed down" by results at Pimco,
adding that "we'd expect to see larger outflows going forward."
Write to Mark Taylor at mark.taylor@wsj.com
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