The DoubleLine Total Return Bond Fund share classes had collective net inflow of $7.9 billion in 2014, with inflows accelerating in the fourth quarter while the DoubleLine Core Fixed Income Fund share classes had net inflows of $1.68 billion for the year, according to S&P Capital IQ.
Los Angeles-based Double Line currently offers mutual funds including bond funds focusing on low duration bonds. The firm also offers multi-asset strategies as well as a mutual fund focusing on small-cap stocks. The firm reportedly pulled in $3 billion in new assets last month and had $64 billion in assets under management at the end of 2014. [Gundlach ETF Goes Live]
“We believe TOTL is likely to be a combination of the two popular fixed income funds that Jeffrey Gundlach manages. According to the prospectus, the portfolio will strive to have at least 20% allocated to mortgage-backed securities, and may allocate as much as 25% to high yield debt and 15% to foreign-currency-denominated securities,” adds S&P Capital IQ.
TOTL, which charges 0.55% per year, debuted with $112.5 million in assets under management, according to SSgA data. That makes TOTL one of the most successful new ETFs to come to market this year.