(Adds quotes from Gundlach)
By Jennifer Ablan
NEW YORK Oct 4 Jeffrey Gundlach's DoubleLine
posted a net inflow of $444.4 million into its open-end mutual
funds in September, marking the Los Angeles-based firm's 32nd
consecutive month of inflows.
The $61.8 billion DoubleLine Total Return Bond Fund, the
largest fund by total assets of the DoubleLine Funds, had a net
inflow of $190.9 million in September, for a year-to-date net
inflow of $8.3 billion.
The DoubleLine Total Return Bond Fund - managed by Gundlach,
chief executive and chief investment officer of DoubleLine
Capital, and Philip Barach - is an open-end intermediate-term
bond fund that invests primarily in mortgage-backed securities.
The $7.6 billion DoubleLine Core Fixed Income Fund had a net
inflow of $87.5 million in September, bringing its year-to-date
net inflow to $2 billion.
The DoubleLine Core Fixed Income Fund is an open-end
intermediate-term bond fund that invests in different sectors of
the fixed income universe, including corporate securities, bank
debt, collateralized loan obligations, emerging markets debt,
non-U.S. sovereign issues, municipal bonds and Treasuries as
well as MBS.
Gundlach and Jeffrey Sherman, deputy chief investment
officer of DoubleLine Capital, are portfolio managers of the
Gundlach, speaking at Grant's fall 2016 conference told an
audience on Tuesday that for the first time in years, he favored
Treasury Inflation-Protected Securities, which he has in the
CORE fund, over nominal Treasuries.
"For the first time in years, I am long TIPS," he said.
In a separate interview with Reuters, Gundlach added:
"Implied future inflation priced into TIPs is low, too low for
the environment likely to unfold over the next decade. Nominal
Treasuries are likely to underperform TIPs over an institutional
DoubleLine's largest equities mutual fund, the $1.4 billion
DoubleLine Shiller Enhanced CAPE fund, had a net inflow of $55.3
million in September, bringing its year-to-date net inflow to
The DoubleLine Shiller Enhanced CAPE fund has two sources of
return: an actively managed fixed income portfolio and a
rules-based exposure to the U.S. stock market.
DoubleLine's investment team actively invests in a
diversified fixed income portfolio. The fixed income portfolio
collateralizes derivatives contracts tracking the Shiller
Barclays CAPE US Sector Total Return Index (the Shiller Barclays
index). The fund launched on Oct. 31, 2013.
Gundlach and Sherman are portfolio managers of the fund.
Overall, DoubleLine oversees more than $100 billion in
(Reporting By Jennifer Ablan; Editing by Alan Crosby)