TCW Group Inc., the Los Angeles-based investment unit of Societe Generale SA, opened TCW Global Bond Fund, its first mutual fund to buy U.S. and international fixed- income securities.
The fund will invest in government and corporate debt “across all major currencies and regions of the world,” the company said today in a statement. Chief Investment Officer Tad Rivelle, along with Stephen Kane and David Robbins, will co- manage the fund.
Societe Generale, France’s second-largest bank, is considering the sale of TCW, possibly through a management-led buyout, two people familiar with the situation have said. TCW’s mutual-fund assets have increased almost 30 percent this year and more than tripled in less than two years to $33 billion, according to company.
TCW, which saw the defection of star manager Jeffrey Gundlach in December 2009, has about $118 billion in assets under management, the company said.
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