The Traderszone Network

Published in TZ Latest News 29 September, 2014 by The TZ Newswire Staff

Vanguard, BlackRock may reap billions from Pimco after Gross exit

NEW YORK/BOSTON – Vanguard Group and BlackRock Inc (BLK.N) could be prime destinations for hundreds of billions of dollars in assets that may flee Pimco in the wake of the sudden exit of Bill Gross, the celebrated “Bond King” of U.S. His new company, Janus Capital Group Inc (JNS.N), may see Gross’s cachet attract tens of billions of dollars, investors and analysts said. During the year ended Aug. 31, investors made $64.7 billion in net withdrawals from Pimco funds, according to research firm Morningstar Inc. Those outflows will likely accelerate with Gross’s departure.

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