Bill Gross: Pimco 10 Times The Fund It Was With Ole Whatshisface

Pimco's Bill Gross, manager of the world's largest bond fund, reassured investors and clients on Wednesday that the departure of his heir apparent, Mohamed El-Erian, will not affect the performance of the firm. "Believe me when I say, we are a better team at this moment than we were before," Gross, co-founder and co-chief investment officer at Pimco, said in his monthly letter. "I/we take the future challenge faced by all asset managers with close to a sacred trust." He advised readers to "stick with PIMCO." [Reuters]