Bill Gross, the co-chief investment officer of Pacific Investment Management Co. will take over management of four funds run by departing high-yield manager mark Hudoff, Bloomberg reported.

The funds are Pimco High Yield Fund, Pimco Convertible Fund, the High Yield Portfolio of the Pimco Variable Insurance Trust, and the Pimco High Income closed end fund according to securities filings filed with the Securities and Exchange Commission, the report notes.

Hudoff is moving to Hotchkis & Wiley Capital Management in July, the report states.

A Pimco spokesman told Bloomberg that Gross will run the funds as a temporary replacement until someone can be found.