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Gross’s bond fund gets whacked amid Italy’s political turmoil

Bill Gross’s Janus Henderson Global Unconstrained Bond Fund dropped greater than three% on Tuesday, an surprisingly large decline for a mutual fund that invests in company bonds and different fixed-income securities.

The fund fell three.04% on Tuesday, and is now down five.94% for the 12 months, in keeping with knowledge by way of Morningstar. Similar finances have returned, on moderate, a zero.22% decline in 2018, Morningstar mentioned.

“Even for unconstrained bond funds, it’s rare for such a sharp decline,” mentioned Todd Rosenbluth, director of ETF & Mutual Fund analysis at CFRA.

Rosenbluth mentioned Gross will have been stuck flat-footed all over Tuesday’s selloff of Italian












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Fearful of an escalating political disaster, buyers fled to more secure U.S












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  and German credit












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An expanded version of this article appears at WSJ.com

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