"And too, stick with PIMCO. Believe me when I say, we are a better team at this moment than we were before. I/we take the future challenge faced by all asset managers with close to a sacred trust. Not the one that the ancients granted to animals, but a more modern one embraced by the relationship of client/fiduciary and the need to be held accountable, sort of like the pigs and locusts in days of old when knights were bold."
It's obvious that PIMCO feels the pain after investors pulled out a record $41.1 bln out of PIMCO Total Return Fund in 2013. And another $3.5 bln in January. So Gross almost begs investors not to jump the ship at this tough time when El-Erian left and Societe Generale downgraded PIMCO's parent to "sell". Well, why don't you make the first step to a "sacred trust" by reducing the expense ratio of the (until recently) biggest mutual fund in the world to a more reasonable figure?
As to his claim that PIMCO is "a better team at this moment than we were before"... I hope he doesn't imply that El-Erian's departure made the team better.