Tuesday, 29 July 2014
Last updated 43 min ago
Oct 3 2011 | 12:57pm ET
DoubleLine Capital, the hedge fund founded by former TCW Group chief investment officer Jeffrey Gundlach, has launched a new bond fund.
The DoubleLine Low Duration Bond Fund is an open-end mutual fund available in two share classes, with a minimum investment as low as $500 for investment retirement accounts. Both share classes have no load.
"The new open-ended fund invests principally in debt securities," Philip Barach, president of the firm, said. "Including corporate debt; asset-backed securities; foreign securities (corporate and government); emerging market securities (corporate and government); inflation-indexed bonds; bank loans and assignments; securitized products, including collateralized loan obligations; preferred securities and any other instruments bearing fixed or variable interest rates of any maturity."
Last month, a Los Angeles jury found that Gundlach breached his fiduciary duty to TCW and misappropriated that firm's trade secrets in founding TCW, although it also awarded him $66.7 million in unpaid wages. TCW plans to seek $89 million in damages.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…