Janus' Bill Gross warns risk taking time is past

NEW YORK (Reuters) - Closely watched bond investor Bill Gross on Tuesday advised caution for investors in the year ahead, suggesting that 2015 will not be a year of outsized gains.

"Be cautious and content with low positive returns in 2015. The time for risk taking has passed," Gross, who oversees the Janus Global Unconstrained Bond Fund , wrote in his monthly investment outlook.

(Reporting by Luciana Lopez; Editing by Chizu Nomiyama)