MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, September 3, 2013 Gundlach Reopens a Fund After Bond "Carnage" Are closed-end funds giving open-end funds a run for their money? DoubleLine's [profile] Jeffrey Gundlach's RiverNorth DoubleLine Strategic Income Fund may attract the attention of advisors now that taxable bond funds are encountering some "carnage," InvestmentNews' Jason Kephart writes. The fund, which is a closed-end fund sleeve managed by RiverNorth and bond sleeve managed by Gundlach, re-opened to investors now that more opportunities are available in the closed-end space after closing due to the then high demand for fixed-income, Kephart reports. Since it launched, the fund had a total return of 20 percent, nearly double the average multi-sector bond fund, kephart writes. Kephart interviewed Patrick Galley, CIO at RiverNorth [profile] , whom he quoted as saying, "A lot of closed-end funds are trading at attractive discounts right now…We haven't seen this kind of opportunity since we launched the fund." In other Gundlach news, Jeffrey Gundlach sang the virtues of mortgage REITs and closed-end funds on CNBC, Barrons' Michael Aneiro writes. Gundlach touted Annaly Capital Management as a good investment right now and said of closed-end funds as a group, "I think those preserve capital capital over the next 12 months and I can see a return of 15 percent," according to Aneiro. To read more, click here. Printed from: MFWire.com/story.asp?s=45860 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |