Gundlach, RiverNorth Launch Fixed-Income Fund

Apr 19 2011 | 11:52am ET

Hedge fund DoubleLine Capital has launched its second vehicle, a joint-venture with RiverNorth Capital Management.

The RiverNorth DoubleLine Strategic Income Fund debuted in December. Three-quarters of the fund's assets will be managed by DoubleLine or by its founder, former TCW Group chief investment officer Jeffrey Gundlach.

To be precise, Gundlach manages the fund's core fixed-income portfolio, currently about half of the portfolio but to be treated as "dry powder" for the fund's other two portfolios. A quarter of the fund, the opportunistic portfolio, is allocated to DoubleLine's mortgage-backed securities strategy, with the final quarter allocated to RiverNorth, which focuses on discount spreads available in closed-end fixed-income funds.

"The fund is designed to capitalize on market inefficiencies in both closed-end funds and the fixed-income markets in partnership with one of the best fixed-income managers in the business," Patrick Galley, CIO of RiverNorth, told InvestmentNews.

The fund is targeting a 6% annual yield after expenses.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.