- Los Angeles-based firm added $10 billion in first quarter
- Total Return Fund increased to $57.6 billion on mortgage bets
DoubleLine Capital, the Los Angeles-based investment firm headed by Jeffrey Gundlach, increased assets under management to $95 billion at the end of March, according to an e-mail from company analyst Loren Fleckenstein, $10 billion more than the firm reported Dec. 31.
The flagship DoubleLine Total Return Bond Fund, which invests primarily in mortgage-backed securities, climbed to $57.6 billion in assets, and has returned 1.75 percent so far in 2016, according to data compiled by Bloomberg.
Gundlach founded DoubleLine after being ousted from Los Angeles-based TCW Group in December 2009. Last year, the flagship DoubleLine Total Return Bond Fund reached $50 billion, the fastest an active stock or bond mutual fund ever hit that milestone. Gundlach, 56, has attracted attention as both a prognosticator and money manager.
DoubleLine will release details on net fund flows next week, according to Fleckenstein.