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Thursday, June 21, 2012

Baldiswieler Plans Another Fund

Reported by Irene Park

While three private equity firms, including Clayton, Dubilier & Rice, fight over TCW Group [profile], Charles Baldiswieler has TCW Funds chugging ahead, fortifying its investment business with yet another fund launch.

According to an SEC filing yesterday, the TCW International Growth Fund will invest in equity securities of companies of all sizes that are located or operate primarily outside of the U.S., with a focus on growth companies. The new fund is expected to launch within the next two months and represents TCW's seventh new fund in two years.

While Baldiswieler, president and CEO could not comment specifically on the new fund due to the 75-day quiet period following the filing, he did explain that in general, TCW Funds has been "very active" in developing new products. He added that TCW has been moving from style boxes toward more outcome-oriented products.

Baldiswieler did comment on TCW's existing Emerging Markets Income Fund, explaining that emerging markets are attractive they generally have lower deficits and lower debt burdens as a percentage of GDP.

"This is of interest to investors who don't want to be denominated in the dollar, but in foreign currencies," Baldiswieler said of the existing emerging markets fund. "We've had some nice flows, which is the opposite of what's happening in the industry, the industry is still seeing outflows [from stock funds]."

Baldiswieler mentioned in the same phone call that TCW is "bouncing around" in the rank 15 to 18 range in the fund industry for fastest-growing in terms of flows.

On a related note, TCW issued a statement just last week touting its asset growth. The combined fund complex has attracted $4.7 billion in net inflows in 2012, it stated. 

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