Three days after TCW's ousted chief investment officer Jeff Gundlach
held a conference
call with former and prospective investors, Tad Rivelle
, the new portfolio manager of the TCW Total Return Bond Fund
, is hosting a conference call Friday at 1 p.m. EST.
To read the rest of the story of the fight between Gundlach and TCW, click here.
Exactly a week ago, TCW made the twin announcements that it was acquiring Metropolitan West Asset Management
and firing Gundlach. MetWest CIO and co-founder Rivelle and
several investment staffers became TCW employees effective immediately, taking on portfolio management
duties for TCW's bond portfolios.
The Wall Street Journal
Friday on the portfolio management transition, noting that MetWest
staffers worked over the weekend to get acquainted with all the portfolio holdings.
By the end of Tuesday, investors had withdrawn about $2 billion from the TCW Total Return Bond Fund
over a 48-hour period. The fund's net asset value, though, barely moved despite the selling.
Meanwhile, as previously reported, the Treasury has suspended a fund TCW raised as part of the
Public-Private Investment Program.
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