Bill Gross’s signature fund at Janus Henderson has shed more than 40% of its assets, in a humbling period of redemptions and wrong-way bets for the fixed-income luminary, data from Morningstar shows.

Gross’s Janus Henderson Global Unconstrained Bond Fund saw redemptions for a fifth consecutive month, totaling about $232m between June and July, bringing the fund’s total assets to $1.249bn, according to the most recent report from Morningstar.