French firm hands new fund to US bond star Gundlach
After Nordea recently put him in charge of its new absolute bond fund, the manager some compare to Bill Gross has been given a new challenge.
by Emily Blewett on Oct 19, 2012 at 11:07
French asset managers Alma Capital have launched a US bond fund which will be managed by Jeffrey Gundlach, co-founder and CIO of US bond specialists DoubleLine Capital.
The Alma DoubleLine Core Plus Bond fund, which Gundlach has been mandated to run on behalf of the Paris-based group, will invest across the fixed income universe.
Among the asset classes included in its portfolio are US government bonds, agency and non-agency mortgage-backed securities, commercial MBS, global developed credit and emerging market debt.
Its launch follows the announcement in September that Gundlach has also been appointed the manager for a similar fund for Nordea.
The fund is Luxembourg domiciled and will be managed by Gundlach and his team which includes Philip Barach, Gregory Whiteley, Bonnie Baha and Luz Padilla.
Gundlach, who runs $45 billion in the fixed income team at DoubleLine Capital, previously managed the $12 billion TCW Total Return Bond fund.
He has often been likened by the press to PIMCO's bond star Bill Gross and is considered to be one of the world's leading bond managers.
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