DoubleLine Capital [profile] has begun a new mutual fund subadvisory relationship with Genworth Financial. Jeffrey Gundlach's team will manage a portion of Genworth's GuideMark Opportunistic Fixed Income Fund beginning on September 30. [SEC filing]

The fund holds just over $202 million in AUM, per Morningstar. Gundlach and Philip Barach will be added as PMs when the subadvisory contract goes into effect.

GenWorth did not respond to MFWire's requests for comment.

DoubleLine will be one of three subadvisors on the fund, joining Franklin Templeton and Loomis Sayles. Franklin's team is led by PM Michael Hasenstab. Matthew Eagan is the lead PM on the portion managed by Loomis.

This will be the first mutual fund that DoubleLine subadvises for Genworth, but not the first strategy. Gundlach's firm was added as a subadvisor on Genworth's Low Volatility strategy when Genworth expanded its funds platform earlier this summer. On July 17, Genworth announced that it was launching eight new strategies and inaugurating subadvisory relationships with BlackRock, Forward, F-Squared, and DoubleLine.

DoubleLine has mutual fund subadvisory agreements with several other fund sponsors, including Aston, RiverNorth, and Altegris.  

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