| NEW YORK, March 26
NEW YORK, March 26 DoubleLine Capital LP, the
investment firm run by star bond manager Jeffrey Gundlach, will
open its first stock mutual fund to investors on April 1, the
firm said on Tuesday.
Los Angeles-based DoubleLine, which manages more than $53
billion in mostly fixed income assets, will launch the
DoubleLine Equities Small Cap Growth Fund under its newly formed
DoubleLine Equity LP division.
The firm announced the formation of its stock division on
Jan. 2, along with the hiring of former TCW Group Inc portfolio
managers Husam Nazer and Brendt Stallings. It registered the
DoubleLine Equities Small Cap Growth Fund with the Securities
and Exchange Commission on Jan. 15.
Nazer, who together with Stallings oversaw as much as $5
billion in assets within TCW's Small and Mid-Cap Growth Equities
Group, will manage the new fund. It will invest mainly in stocks
of smaller U.S. companies.
DoubleLine will launch the fund's institutional share class
under the ticker symbol DBESX, and its retail share class under
the ticker symbol DLESX.
The firm plans to roll out its other registered open-end
stock mutual funds, the DoubleLine Equities Growth Fund and the
DoubleLine Equities Global Technology Fund, later this year.
Gundlach, DoubleLine's chief executive and chief investment
officer, founded the firm in December 2009 after a split with
TCW, where he was chief investment officer.
DoubleLine announced on March 22 that it had hired four
stock analysts and a stock trader to expand DoubleLine Equity
LP. Four of the new hires previously worked at TCW as members of
Stallings' and Nazer's group.