The DoubleLine Equities Growth Fund, a $6.1 million fund that focuses on growth companies, is being liquidated after less than three years after performance trailed peers.

“For the time being, we’re focusing our equities development on our rules-based investment program led by Jeffrey Sherman,” Loren Fleckenstein, a DoubleLine analyst, said Wednesday in an e-mail.

The Equities Growth Fund, which was started in April 2013 and managed by Brendt Stallings, fell 12 percent this year through March 1 and 20 percent over the past 12 months, lagging behind at least 98 percent of competitors in both periods, according to data compiled Bloomberg. Its largest holdings were Inc. and Facebook Inc. as of Dec. 31.

DoubleLine Capital, the Los Angeles-based investing firm headed by Jeffrey Gundlach, had $90 billion under management at the end of February.

Sherman and Gundlach co-manage the $776 million DoubleLine Shiller Enhanced CAPE fund, using a methodology created by Robert Shiller, the 2013 Nobel Prize-winning economist. The fund beat 97 percent of its peers over the last 12 months.

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