Bond fund guru Jeff Gundlach
and his team are making their move into equities.
Yesterday DoubleLine Capital
to launch its first three stock mutual funds, slated for release sometime this year [N-1A
]. Jennifer Ablan and Sam Forgione of Reuters reported
on the Los Angeles-based mutual fund shop's filing.
Gundlach has made no secret of his intention to diversify into the equity investing business. In September the DoubleLine chief told Bloomberg
that he planned to hire a team to manage U.S. stock mutual funds and a long-short hedge fund, calling equities "a superior investment to bonds for an inflation hedge." Then, on the first working day of 2013 (i.e. two weeks ago today), DoubleLine unveiled
the hiring of two ex-TCW equity PMs, Husam Nazer
and Brendt Stallings
. Gundlach served as TCW's chief investment officer before launching DoubleLine.
According to yesterday's filing, Nazer will PM the DoubleLine Equities Small Cap Growth Fund
. Nazer and Stallings will co-PM the DoubleLine Equities Growth Fund
and the DoubleLine Equities Global Technology Fund
"We think the equity business is ripe for creative thinking," Gundlach told Reuters
Neil Anderson, Associate Editor
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