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
]. 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 |
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.
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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