The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Friday, December 11, 2009|
It's Tad's Turn to Address TCW Fund Investors
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.
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 published an article 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By the end of Tuesday, investors had withdrawn about $2 billion from the TCW Total Return Bond Fund over a 48-hour period.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.
Printed from: MFWire.com/story.asp?s=23501
Copyright 2009, InvestmentWires, Inc.
All Rights Reserved