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Gundlach Fund Attracts Most Investor Money in First Half

DoubleLine Capital CEO Jeffrey Gundlach
Jeffrey Gundlach, founder and chief executive officer of DoubleLine Capital LP. Photographer: Scott Eells/Bloomberg

July 11 (Bloomberg) -- DoubleLine Capital LP’s Total Return Bond Fund attracted the most money among U.S. mutual funds this year through June, according to estimates from Morningstar Inc.

The Los Angeles-based firm’s fund received $11.5 billion, followed by Vanguard Group Inc.’s Total International Stock Index Fund, which won $8.9 billion, Chicago-based Morningstar said. Pacific Investment Management Co.’s Total Return Bond Fund, the world’s largest mutual fund, had the sixth biggest deposits with $5.9 billion.

DoubleLine Total Return Bond Fund, run by Chief Executive Officer Jeffrey Gundlach and Philip Barach, has returned 5 percent this year through yesterday’s close, beating 95 percent of similarly managed funds, according to data compiled by Bloomberg. The $28 billion fund has returned 9.3 percent over the past 12 months, ahead of 98 percent of rivals. It had invested 31 percent in non-agency residential mortgage backed securities as of June 30, according to DoubleLine’s website.

The numbers are for open-end mutual funds and exclude money markets and fund-of-funds. Investors put $106 billion into U.S. taxable bond funds this year through May, Morningstar said. Domestic stock funds had $34 billion in withdrawals during the same time period while international stock funds had deposits of $20 billion.

To contact the reporters on this story: Alexis Leondis in New York at aleondis@bloomberg.net; Charles Stein in Boston at cstein4@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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