DoubleLine woos commission-based brokers with new fund

DoubleLine Capital LP is planning to go after commission-based brokers with load shares of a new fund, a first for the firm. In March, the Los Angeles-based firm founded by famed fixed-income manger Jeffrey Gundlach last April, will launch the Multi Asset Growth Fund, a global tactical-asset-allocation fund in both load and no-load shares, Ron Redell, president of DoubleLine Funds, announced in a webcast Tuesday. The firm, which has $7.5 billion in assets — $4.4 billion in the three funds it offers — wants to go after commission-based brokers to expand its reach among in the financial adviser community, Mr. Redell said in an interview after the webcast with InvestmentNews. Initially, the firm will launch A shares and I shares of the fund, and plans to roll out C shares at a later date, he said. DoubleLine is in talks with a number of major broker-dealers and wirehouses, and “expects to be live with most platforms when the fund launches,” Mr. Redell said.