William "Bill" Gross, as the king of bonds for their vision for lifelong well-known , suddenly announced his resignation from PIMCO , the largest investment group he co-founded, according to a statement from the company. crude oil rose rival of Janus Capital as a separate press release said.
But the impact is -out one of a number of unpleasant circumstances and arrived just before PIMCO was removed, according to the New York Times. Running until his department reports of erratic behavior, questions about his leadership, the decline in performance of the funds managed by it, and the investigation by the SEC into a fund they manage.
He was with PIMCO, now associated morning the picture is still up in the middle of the company's website . The 70-year-old made a $ 200 million annual salary , according to Business Insider. Brut is personally in the amount of 2.3 billion dollars , as estimated by Forbes, played a role in the management of PIMCO 2 trillion of assets. His work in the company of his most powerful industrial Deposit character could have done, because he managed to $ 236000000000, the Total Return Fund, the largest bond fund in the world.
But last year, things began to deteriorate. The fund's return was the total yield less than other bond funds. PIMCO CEO Mohamed El-Erian, who was to take over oil, the company in January. Rumor reason was "controversial management style to deliver raw," Forbes said. Whether "Sometimes often contain explosions" as the Times. Wall Street Journal, the PIMCO was warned several times about his crude behavior .
Then there was his personal conduct, which refers to many, including "an industry forum to visit mutual sunglasses Finance and writing a monthly letter to investors, which was basically an ode to his dead cat" according to the Times.
Wrap the package of bad news was the SEC investigation to determine if someone artificially inflated performance figures of a $ 3600000000 managed directly Gross.
MarketWatch has the last 12 months "raw as horrible very bad year, terrible, terrible . "
According to Reuters, Gross knew he plunged several times and threatened to quit.
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