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Rating:Gundlach Bristles at TCW Performance Boasts Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, April 17, 2012

Gundlach Bristles at TCW Performance Boasts

News summary by MFWire's editors

Jeff Gundlach and his former employers at TCW [profile] are in another verbal battle. The DoubleLine [profile] chief and former TCW chief investment officer told Jason Kephart of InvestmentNews that it was "utterly inappropriate" of TCW to publish a press release about the TCW Total Return Bond Fund winning a Lipper award for five- and ten-year performance, as Gundlach PMed the fund from 1993 until TCW fired him at the end of 2009.

Peter Viles, a spokesman for TCW, responded by noting that "the team that took over the TCW Total Return Bond Fund in December 2009 has delivered very strong performance for nearly two and a half years, ranking in the top quartile of its Morningstar peer group."

The TCW release in question (see below) also mentions Lipper wins for two other TCW funds.

Company Press Release

Three TCW and MetWest Funds Win Lipper Awards


March 09, 2012

LOS ANGELES – March 9, 2012 –  Two TCW mutual funds and one MetWest mutual fund were named Thursday as winners of Lipper Fund Awards for 2012 based on consistent risk-adjusted performance.

The winning funds were the TCW Total Return Bond Fund (TGLMX/TGMNX) for its performance over five and ten years among 73 and 59 funds respectively in the U.S. Mortgage Funds category; the TCW Emerging Markets Income Fund (TGEIX/TGINX) for its performance over five years among 57 funds in the Emerging Markets Debt Funds category; and the MetWest Strategic Income Fund (MWSIX/MWSTX) for its performance over three years among 54 funds in the Absolute Returns Funds category.

“Less traditional fixed income asset classes have delivered strong returns for long-term investors and our outstanding track record in the areas of mortgage-backed securities and emerging markets is reflected in these awards,” said Tad Rivelle, Chief Investment Officer for Fixed Income at TCW.

The spread sectors of fixed income have helped TCW and MetWest mutual funds attract more than $2 billion in net inflows year-to-date in 2012, led by the MetWest Total Return Bond Fund (MWTRX/MWTIX) and TCW Emerging Markets Income Fund. The firm has also seen inflows into its U.S. equity funds.

The Lipper Awards honor mutual funds, hedge funds, and fund management firms that have delivered stronger and more consistent performance than their peers. Lipper's proprietary fund rating methodology is used to determine the winners. This quantitative approach ensures that the Lipper Awards are performance-based and objective.

The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. For more information, please contact markets.awards@thomsonreuters.com or visit excellence.thomsonreuters.com.

Past performance is no guarantee of future results. High rankings do not guarantee favorable performance and in fact a Fund may experience negative or flat performance over the time periods.

About TCW Funds 

TCW Funds, Inc. is an open-end investment company, consisting of 22 separate mutual funds sold primarily to individual investors and retirement plans.

About TCW 

Founded in 1971, The TCW Group, Inc., develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients’ wealth. The firm has approximately $124 billion in assets under management. TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as a substantial number of foreign investors and high net worth individuals. TCW is a subsidiary of Société Générale. For more information, please refer to www.tcw.com.

About MetWest 

Founded in 1996, Metropolitan West Asset Management LLC (MetWest) is a wholly-owned subsidiary of TCW. Since its founding MetWest has delivered strong fixed income returns for its clients through a value-driven investment philosophy and a client-centered culture. MetWest’s strategies, all of which are team-managed, have garnered four nominations for Morningstar’s Fixed Income Manager of the Year and received this distinguished honor in 2005. TCW announced the acquisition of MetWest in December 2009 and completed the transaction in February 2010.

* The Morningstar Fund Manager of the Year award winners are chosen based on Morningstar’s proprietary research and in-depth evaluation by its Fund analysts.

Obtain a Prospectus 

You should consider the investment objectives, risks, charges, and expenses of each Fund carefully before investing. The TCW Funds and MetWest Funds prospectuses and summary prospectuses contain this and other information about each Fund. You may download separate prospectuses for TCW and MetWest Funds from the Funds’ website at tcw.com. Please read each prospectus carefully before you invest or send money.

A Word about Risk 

Bond Funds have the same interest rate, high yield and credit risks associated with the underlying bonds in the portfolio, all of which could reduce the Fund’s value. As interest rates rise, the value of the Fund can decline and an investor can lose principal. Emerging markets securities carry special risks, such as less developed or less efficient trading markets, a lack of company information, and differing auditing and legal standards. The securities markets of emerging markets countries can be extremely volatile. Investing in foreign currencies carries special risks including the risk that the value of the Fund’s investments denominated in foreign currencies will decline in value because the foreign currency has declined in value relative to the U.S. dollar.

The TCW Funds are distributed by TCW Funds Distributors.

The MetWest Funds are distributed by BNY Mellon Distributors Inc. which is not affiliated with TCW. The MetWest Funds are advised by Metropolitan West Asset Management, LLC, which is a wholly-owned subsidiary of The TCW Group, Inc.

Edited by: Neil Anderson, Managing Editor

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