Assets at Gundlach's DoubleLine Rise for 22nd Consecutive Month

Dec 1 2015 | 5:17pm ET

By Jennifer Ablan (Reuters) - DoubleLine Capital, the investment firm with $80 billion in assets overseen by widely followed co-founder Jeffrey Gundlach, posted net inflow of $1.08 billion in November, the 22nd month it has attracted new money.

The Los Angeles-based firm said on Tuesday its DoubleLine Total Return Bond Fund had a net inflow of $895.2 million in November. The fund, with total assets at $51.07 billion, invests primarily in mortgage-backed securities.

DoubleLine Total Return is posting returns of 2.53 percent so far this year, beating 99 percent of its category. The DoubleLine Core Fixed Income is posting returns of 1.47 percent, surpassing 92 percent of its category. Both funds are overseen by Gundlach.

The $5 billion DoubleLine Core Fixed Income Fund also attracted new money last month.

DoubleLine Core, which actively allocates among different sectors of the fixed income market such as corporate bonds and loans, emerging markets debt, Treasuries and MBS, received $100.6 million in November, for a year-to-date net inflow of $1.58 billion.

"Before the events of September 2014 down in Newport Beach, the DoubleLine Core Fixed Income Fund averaged net inflows that year of about $35 million a month," said DoubleLine analyst Loren Fleckenstein. "Now the fund this year has been averaging monthly net inflows of about $100 million."

DoubleLine, BlackRock, TCW and Vanguard are among the firms that have benefited greatly from last year's management turmoil at Newport Beach-based PIMCO.

Bill Gross, who helped build PIMCO from scratch into a $2 trillion mutual fund behemoth over four decades, abruptly quit on Sept. 26, 2014, for Janus Capital Group.


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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…