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Rating:DoubleLine Goes Beyond Bonds with its New Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 19, 2010

DoubleLine Goes Beyond Bonds with its New Fund

Reported by Sean Hanna, Editor in Chief

DoubleLine Capital is taking a step beyond the bond market as it preps a fourth mutual fund. On Friday the Los Angeles-based fund firm filed with the SEC for the DoubleLine Multi-Asset Growth Fund [SEC filing]. The fund will be an asset allocation fund, investing in fixed income securities that have heretofore been DoubleLine's specialty, as well as equities.

Jeff Gundlach
DoubleLine Capital
On Friday, DoubleLine officials declined to discuss the new fund citing a quiet period created by the SEC filing.

The portfolio management team include DoubleLine founder and CEO Jeffrey Gundlach along with president Philip Barach, Bonnie Baha, Samuel Garza and Luz M. Padilla.

DoubleLine launched its first two mutual funds, Total Return Bond and Emerging Markets Fixed Income, in April and its third offering, Core Fixed Income, at the beginning of June. It also announced a subadvisory relationship on a fixed income ETF sponsored by Grail Advisors last month.

Total Return has been the fastest growing fund of the year measured by AUM growth.

The fund will be sold in class A shares that carry a 4.25 percent upfront load and a 25 basis point 12b-1 fee. It also carries class C shares that have a 1 percent level CDSC and 100 basis point 12b-1 fee. Class N shares carry just a 25 bp 12b-1 fee while the class I shares have no distribution costs. Each of the share classes charges a 1 percent fee for shares held fewer than 90 days.

DoubleLine will be paid a 100 bps investment management fee on each of the four classes of shares. The minimum initial investment for class I shares is $100,000 compared to just $2,000 for each of the other three share classes. 

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