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Friday, June 11, 2010|
Gundlach's Fund is the Highest AUM Gatherer Among 2010 Launches
Jeff Gundlach's new fund is the most successful mutual fund launch of the year, but it is not the only success. Numbers just out from Morningstar show that Pimco, AQR and Fairholme are also pulling in assets with new mutual funds. The data was released by Morningstar in its May U.S. Mutual Fund and ETF Asset Flows report.
The news must be especially sweet to Gundlach, who founded DoubleLine after leaving TCW last December. At TCW, he was the PM for TCW Total Return, a rival fund to Pimco's flagship Total Return fund PM'd by Bill Gross.
Ranking in third place is AQR Global Equity, which has grown to $350 million in AUM since its start of the year launch. The fund uses an alternatives strategy and is PM'd by Cliff Asness.
Relatively tiny Fairholme appears to have successfully leveraged its success with equities into the fixed-income arena. Fairholme Focused Income has pulled in $249 million AUM since it opened in January. The fund is PM'd by Bruce Berkowitz, who gained renown by adopting a Warren Buffett-like approach at the helm of the Fairholme Fund.
Printed from: MFWire.com/story.asp?s=32480
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