DoubleLine woos commission-based brokers with new fund

Gundlach & Co. launching fund with load shares, a first for firm
DEC 09, 2010
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.

Latest News

LPL Financial lands $1.6B Conte Wealth Advisors from Cambridge
LPL Financial lands $1.6B Conte Wealth Advisors from Cambridge

A third-generation Pennsylvania firm with 24 advisors and $1.6 billion in client assets has left Cambridge Investment Research.

Confluence Financial Partners secures minority stake from PE firm
Confluence Financial Partners secures minority stake from PE firm

Fast-growing $7.6 billion Pittsburgh-based RIA secures growth capital but retains full management control.

US bank M&A wave set to reshape wealth management landscape
US bank M&A wave set to reshape wealth management landscape

Bain projects up to seven US trillion-dollar banks by 2030 as consolidation accelerates.

Warren and Wyden press FINRA on ACATS transfer fraud gap
Warren and Wyden press FINRA on ACATS transfer fraud gap

Senators say brokerages leave accounts exposed to fraudulent transfers without verification, intensifying pressure as FINRA weighs its own fraud-hold rule

Forbes advisor list update: Morgan Stanley drops it, owner says changes are coming
Forbes advisor list update: Morgan Stanley drops it, owner says changes are coming

Meanwhile, the founder of advisor list gives reasons for secret $6 million payment to editor.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income