Gross criticises large firms in first investor address from Janus

Speaking to investors for the first time in his new role at Janus Capital, Gross (pictured) was quick to advocate the benefits of working in smaller teams. When asked what management style he preferred, Gross said “a team has to be relatively small in order to make effective decisions. Larger organisations with a kind of egalitarian voting system develop a mush in the middle with portfolios that don’t really do much.” Gross also advocated for a commitment to clients, saying “you have to be aware of those we are serving, of their plight. Unless you have a client in mind in addition to...