Bill Gross's co-manager on the Janus Global Unconstrained Bond Fund is out after roughly a year in the position, Janus Capital Group Inc. said Thursday.

Kumar Palghat will no longer help Mr. Gross manage the fund but will co-manage a new active fixed-income exchange-traded fund, the Denver-based asset manager said. Mr. Gross joined Janus in 2014 after a contentious exit from his old company, Pacific Investment Management Co.

Mr. Palghat, a former Pimco executive, was named co-manager of the Global Unconstrained Bond Fund in 2015 after Janus bought a majority interest in Kapstream Capital Pty Ltd., an Australian-U.S. global bond firm he founded.

A filing Janus made Thursday with the Securities and Exchange Commission removes Mr. Palghat's name from Janus Global Unconstrained Bond Fund's "investment personnel" section. "Effective July 28, 2016, references to Kumar Palghat are deleted," the filing says.

Janus said Mr. Palghat will co-manage the Janus Short Duration Income ETF with Nick Maroutsos. The fund "represents an expansion of Janus's global marco fixed-income lineup," the firm said.

Mr. Gross declined to comment through a spokesman. A Janus spokeswoman didn't immediately respond to a request for comment.

Write to Daisy Maxey at daisy.maxey@wsj.com

(END) Dow Jones Newswires

July 28, 2016 16:15 ET (20:15 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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