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August 31, 2011 at 11:53 AM
The DoubleLine Total Return Bond Fund has reached $10 billion in assets under management, just 16 months after the fund’s launch in April 2010, DoubleLine Capital announced Wednesday.
A $10,000 investment in the Total Return Bond Fund (DBLTX) has grown 15% over the last 16 months to $11,500, thanks to superstar fund manager Jeffrey Gundlach’s ability to pick securities.
DBLTX returned 11.6% over the last 12 months. That compares to the 3.6% return in the PIMCO Total Return Fund (PTTRX) managed by Bill Gross, who cut back his exposure to U.S. Treasuries in March in the face of record budget deficit projections.
Morningstar’s Intermediate Term Bond Fund category ranks DBLTX at No. 1 out of 1,161 funds, based on total returns, for the one-year period ending July 29. DLTNX is ranked No. 2. Both share classes in the fund ranked in the top 1% of all funds ranked for the same period.
Gundlach (left), chief executive of DoubleLine, and Philip Barach, its president, co-manage the Total Return Bond Fund, according to the company’s website. The firm is majority employee-owned, with Gundlach and Barach holding a combined controlling interest.
