Gundlach’s DoubleLine Fund Has Third Month of Net Redemptions
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Jeffrey Gundlach’s DoubleLine Total Return Bond Fund, which has beaten 97 percent of rivals over the past three years, had its third straight month of net withdrawals as investors continued to flee bonds.
Clients pulled an estimated $1.1 billion from the $36.8 billion fund in August, according to research firm Morningstar Inc. The fund had $1.2 billion of net redemptions in June, its first monthly withdrawals since opening in April 2010, followed by redemptions of $580 million in July, Chicago-based Morningstar said.