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Bill Gross’s resignation as CEO of Pacific Investment Management Co. shocked bond markets Wednesday.JIM YOUNG/Reuters

Bill Gross, the former manager of the world's largest bond fund who last month took over a new fund at Janus Capital Group Inc., said investors should say "bye-bye" to the days of double-digit returns.

"The world is slowing down," Gross said in a conversation today with Janus's Chief Executive Officer Dick Weil that was broadcast on the firm's website. "We're doing the best of them all," Gross said of the U.S.,"but frankly it's not like the old normal, it is the new normal where global growth proceeds at a very slow pace."

The 70-year-old Gross started managing the Janus Global Unconstrained Bond Fund this week after leaving Pacific Investment Management Co. on Sept. 26. Gross, who co-founded Pimco in 1971 and ran its $201.6 billion Total Return fund, left after his deputies threatened to quit and management debated his ouster, according to people familiar with the matter.

His departure prompted investors, including pensions and 401(k) plan advisers, to review their holdings with the firm and move money to competitors including TCW Group Inc., Legg Mason Inc., DoubleLine Capital LP and Loomis Sayles & Co. together.''

Gross, who had a bandaid under his right eye, said "it's been a rough few weeks" since he decided to leave his former employer. He said he expects to live a "happy second life" at Janus.

'Second Life'

"I expect my second life at Janus Capital to be a simpler sequel to my life at Pimco," Gross said. "I think we're going to make for a good team, not just you and I but a lot of people coming together."

Gross's new fund received $66.4 million in new money last month, according to Morningstar Inc., a fraction of the $23.5 billion that left his former fund at Pimco. Among the early winners is a handful of funds including the $36 billion Metropolitan West Total Return Fund, run by former Pimco managers, which gathered $1.5 billion last month and has attracted more money in October, according to data compiled by Bloomberg.