Monday morning, Aston Asset Management [see profile] has unveiled a mutual fund sub-advised by Jefferey Gundlach's DoubleLine Capital. The Aston/DoubleLine Core Plus Fixed Income Fund is the second fixed income fund in Chicago-based Aston's roster of 25 sub-advised funds.

Los Angeles-based DoubleLine [see profile], which has its own four mutual funds, sub-advises a fund for RiverNorth and will be one of the sub-advisors for an upcoming Litman/Gregory fund.

"We met Jeffrey Gundlach in the summer of 2010, when he gave the keynote at the Morningstar conference," said Aston president Ken Anderson in an interview with The MFWire.com. "That was the first time we met with him and our discussions went from there."

The fund comes in N shares and I shares [SEC filing].

Aston, which is majority owned by Affilated Managers Group, is getting the word out on the new product through online banner ads on Morningstar.com. The ads will start appearing today and will run for a number of months, Anderson said. In addition, Aston will host a Webcast featuring Gundlach on August 3.

Anderson said the fund's launch is part of Aston's efforts to broaden out its fund lineup. "Right now, it's very US equity-centric," he said.

Aston currently has no plans for a third fixed income fund, Anderson said. The company is looking at increasing its international and alternative offerings. 

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