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March 11, 2022 at 02:03 PM
Jeffrey Gundlach’s DoubleLine Capital LP looks set to debut in the $6.7 trillion ETF arena after a nod from U.S. regulators.
The $134 billion asset manager’s applications related to the DoubleLine Opportunistic Bond ETF (ticker DBND) and the DoubleLine Shiller CAPE U.S. Equities ETF (DCPE) have been granted “effective immediately,” according to a Securities and Exchange Commission order this week. That means the firm has the green light to launch.
DBND will track fixed-income securities including collateralized debt obligations and government notes, with up to 50% in junk-rated debt. As much as 5% of the portfolio can hold defaulted corporate securities, according to a filing.
The new equity offering will reference the Shiller Barclays CAPE US Sector TR USD Index — which incorporates the principles of long-term investing set out by Robert Shiller, the creator of the Cyclically Adjusted Price Earnings ratio that assesses valuations alongside inflation-adjusted earnings.
DoubleLine, which recently moved its principal office to Florida from Los Angeles, didn’t immediately respond to a request for comment. It’s unclear how soon it will bring its funds to market.
