(Bloomberg) -- Bill Gross, faced with slow growth at his Janus mutual fund, is reviving the total-return strategy that made him one of Wall Street's most famous bond managers.

Janus Capital is setting up a private total-return bond fund, to be managed by Gross, that will raise money from institutional investors, according to a person with knowledge of the matter. Gross told Pension & Investments in an interview published Monday that Janus plans to offer the total-return strategy as a mutual fund as well.

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