DoubleLine's Total Return Bond Fund Sees Ninth Consecutive Month of Outflows

Aug 9 2017 | 11:10pm ET

Jeff Gundlach’s DoubleLine Total Return Bond Fund saw its ninth consecutive month of net outflows in July, as investors yanked a further $200 million from the famed bond manager’s flagship fund. 

The outflows continue a streak that dates back to November of last year, when November’s election-related “Trump Tantrum” touched off a shift in fixed-income sentiment which accelerated with the Fed’s subsequent decisions to raise interest rates. Until then, the Total Return Fund had enjoyed an extraordinary 32-month run of consecutive monthly net inflows.

So far this year, the $53.61 billion fund has lost $3.6 billion in assets, according to a Reuters article citing Morningstar data. In comparison, some $203 billion has gone into the bond fund segment during the first half of 2017.

The firm as whole continues to attract assets, the article continued, pulling $253 million into its mutual funds and ETFs during the month and a total of $2.5 billion this year. Total assets under management at DoubleLine are more than $110 billion across all vehicles. 

Gundlach is widely considered to rival former PIMCO head Bill Gross as a bond-market sage. He started Los Angeles-based DoubleLine with Philip Barach in 2010 after managing TCW’s $12 billion Total Return Bond Fund. 


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