Bill Gross is retiring

Jim Young/Reuters

Bill Gross, the former "Bond King," is retiring after more than 40 years in the industry.

Gross, who cofounded the fixed-income investment firm PIMCO in 1971, and He more recently managed the Janus Henderson Global Unconstrained Bond funds and related strategies.

""I've had a wonderful ride for over 40 years in my career - trying at all times to put client interests first while inventing and reinventing active bond management along the way," Gross said in a press release.

"So many friends and associates at my two firms to thank - nothing is possible without a team working together with a common interest. I've been fortunate to have had that. And thank you to all of my past clients for their trust and support. I learned early on that without a client, there can be no franchise. I'm off - leaving this port for another destination with high hopes, sunny skies and smooth seas!"

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