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Gundlach’s Fund Doubles Holdings of Junk-Rated Puerto Rico

Updated on

DoubleLine Capital’s Jeffrey Gundlach more than doubled the holdings of junk-rated Puerto Rico debt in his Income Solutions Fund to $45 million.

The $2.28 billion fund’s investment in Puerto Rico general-obligation bonds as of March 31 was up from $20 million the prior month, according to data compiled by Bloomberg. The fund didn’t hold any commonwealth debt at the end of 2014.