While its feud with Morningstar continues to rage on, Jeffrey Gundlach’s DoubleLine Capital continues to attract investors – and how.
According to Reuters, the L.A.-based fund manager just racked up its 18th straight month of additional investments, with the Total Return Bond Fund – largely thanks to outflows from Pimco – attracting $390 million more money in July. The fund added just $82 million in June, after adding over a $1 billion between May and April.
Incidentally, April also marked the fifth-year anniversary of the $47.2 billion fund, which appeared to celebrate the occasion by beating 98% of its peers in Morningstar’s intermediate-term bond category with an 1.94% YTD return.
S&P Capital IQ director of ETF & Mutual Fund Research, Todd Rosenbluth, had this to say regarding the Total Return Bond Fund:
“The first seven months of the year, the fund has continued its excellent record relative to peers and the Barclays aggregate index… …We continue to believe the fund has managed the risks in the bond market well and think investors have confidence in the stable management team at Doubleline ahead of likely pending Federal Reserve policy changes.”
As for the firm’s other funds, they’re not doing too bad either. Their Core Fixed Income Fund alone saw its year-to-date inflows blow through the $1 billion mark in July, while the firm, in its entirety, saw its assets under management soar to $76 billion.
Photo: Philip Taylor