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Wednesday, May 18, 2011

TCW Plans Two More 2011 Launches

Reported by Neil Anderson, Managing Editor

TCW's [see profile] mutual fund business is growing, with a pair of additions planned for later this year. Chuck Baldiswieler, president and CEO of TCW Funds, told The MFWire that they "anticipate" rolling out two new fixed income funds by the end of 2011.

Baldiswieler did not provide further details on the planned funds.

According to TCW, its mutual fund assets have more than tripled in the past 17 months, rising from $9.7 billion at the end of 2009 to more than $30 billion now, including $26 billion in fixed income and $4 billion in balanced and equity (out of TCW's $120 billion assets in total). In a statement, Baldiswieler credited both the February 2010 acquisition of MetWest, as well as "outstanding investment performance and strong inflows across asset classes."

Baldiswieler confided that the firm is reviewing whether or not to increase staffing levels.

Company Press Release

LOS ANGELES, CA--(May 18, 2011) - The TCW Group (TCW), an international asset-management firm, announced that total assets under management in its TCW and MetWest-branded mutual funds have surpassed $30 billion, more than tripling TCW's mutual fund assets in the past 17 months.

The acquisition of Metropolitan West Asset Management in February 2010, combined with strong performance and consistent net inflows, have boosted TCW's mutual fund assets by 210% from their total of $9.7 billion at the close of 2009.

"We've reached the $30 billion milestone through a combination of outstanding investment performance and strong inflows across asset classes," said Charles "Chuck" Baldiswieler, President and Chief Executive Officer of TCW Funds, Inc.

In its combined mutual fund complex, TCW and MetWest now manage $26 billion in fixed income assets and $4 billion in equity and balanced assets, making the combined TCW fund complex one of the 60 largest mutual fund complexes in the U.S., and putting it in the top 20 managers of fixed income mutual fund assets. With approximately $90 billion in assets outside of its mutual fund complex, TCW has also experienced significant inflows into its institutional strategies, notably from international investors.

Several funds in particular have helped power TCW's mutual fund growth since December 2009, when TCW announced the acquisition of MetWest. Assets in MetWest Total Return Bond Fund have increased 80% to over $13.5 billion, while assets in MetWest High Yield Bond Fund have increased four-fold to $2.3 billion. The TCW Emerging Markets Income Fund has grown more than 10-fold over the same period to over $2.2 billion, and the TCW Small Cap Growth Fund has more than doubled in assets, to $1.2 billion.

TCW has significantly expanded its mutual fund offerings in U.S. growth stocks and in international investing by launching four new funds over the past six months: the TCW Growth Fund, the TCW SMID Cap Growth Fund, the TCW Emerging Markets Local Currency Income Fund and the TCW International Small Cap Fund.

About TCW

Founded in 1971, The TCW Group, Inc., develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients' wealth. The firm has approximately $120 billion in assets under management. TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as a substantial number of foreign investors and high net worth individuals. TCW is a subsidiary of Société Générale. For more information, please refer to www.tcw.com. Metropolitan West Asset Management LLC (MetWest), acquired by TCW in February 2010, is a wholly-owned subsidiary of TCW.

Past performance is no guarantee of future results.

Obtain a Prospectus

You should consider the investment objectives, risks, charges, and expenses of each Fund carefully before investing. The TCW Funds and MetWest Funds prospectuses and summary prospectuses contain this and other information about each Fund. You may download separate prospectuses for TCW and MetWest Funds from the Funds' website at tcw.com. Please read each prospectus carefully before you invest or send money.

A Word about Risk

Bond Funds have the same interest rate, high yield and credit risks associated with the underlying bonds in the portfolio, all of which could reduce the Fund's value. As interest rates rise, the value of the Fund can decline and an investor can lose principal. Emerging markets securities carry special risks, such as less developed or less efficient trading markets, a lack of company information, and differing auditing and legal standards. The securities markets of emerging markets countries can be extremely volatile. Investing in foreign currencies carries special risks including the risk that the value of the Fund's investments denominated in foreign currencies will decline in value because the foreign currency has declined in value relative to the U.S. dollar. Stock Funds have the same equity and price volatility risks associated with the underlying stocks in the portfolio, all of which could reduce the Funds' value. Funds investing in mid and small cap companies involve sp ecial risks including higher volatility and lower liquidity. As stock prices fluctuate, the value of the Funds can decline and an investor can lose principal.

The TCW Funds are distributed by TCW Funds Distributors.

The MetWest Funds are distributed by BNY Mellon Distributors Inc. which is not affiliated with TCW. The MetWest Funds are advised by Metropolitan West Asset Management, LLC, which is a wholly-owned subsidiary of The TCW Group, Inc. 

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