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Thursday, September 13, 2012|
Will Gundlach Recruit More TCW PMs?
On Tuesday Bloomberg reported that, according to the DoubleLine [profile] chief, he could hire U.S. stock mutual fund PMs teams within a few months. Now Jason Kephart of InvestmentNews wonders Gundlach will again hire TCW PMs, this time from the equity side, as it's not clear whether or not the equity PM teams are participating in the Carlyle Group-led buyout of TCW. That deal, slated to close in Q1 2013, will push TCW management and employees' collective stake in TCW from 17 percent to 40 percent.
TCW spokesman Peter Viles told INews that PMs "who oversee roughly 90% of TCW's actively managed assets have entered into long-term agreements to participate in the Carlyle transaction."
"We continue to have productive discussions with other key TCW employees," Viles said.
The trade pub notes that TCW's equity PMs manage about 10 percent of TCW's $130 billion in assets.
TCW currently offers nine U.S. equity mutual funds:
INews points out that Growth, Relative Value Large Cap and Select Equities all continue to boast positive net inflows, despite the overall pummeling of equity funds of late.
Printed from: MFWire.com/story.asp?s=41186
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