(Adds returns of DoubleLine Total Return Bond Fund, background;
By Jennifer Ablan
NEW YORK, July 1 Jeffrey Gundlach's DoubleLine
Funds said on Tuesday it had net inflows of $527 million in June
with its flagship DoubleLine Total Return Bond Fund
attracting net inflows of $503 million.
The Los Angeles-based DoubleLine said its DoubleLine Total
Return Bond Fund has seen net inflows totaling more than $1.5
billion so far this year as of June and more than $2.1 billion
of net inflows into DoubleLine open-end funds year-to-date as of
The DoubleLine Total Return is posting returns of 4.49
percent year-to-date, surpassing the benchmark Barclays U.S.
Aggregate Bond Index which is posting returns of 3.93 percent.
"We continue to be pleased with the demand for our
investment solutions focused on delivering strong risk-adjusted
returns with a stable and consistent team who have been working
together for a long time," said Ronald Redell, president of
Gundlach, who as co-founder and chief investment officer at
DoubleLine helps oversee $49 billion in assets, is widely
followed for his investment calls including a bet earlier this
year that Treasuries were undervalued relative to other sectors.
The yield on the 10-year Treasury note is currently at 2.56
percent, down from around 3 percent at the start of the year.
Bond yields move inversely to their prices.
Last month, in an investor webcast, Gundlach said the
10-year U.S. Treasury note will likely be in a range between
2.20 percent and 2.80 percent during the second half of year.
Gundlach said U.S. Treasuries are "something of a
high-yielding" security relative to European sovereign bonds.
Gundlach also said U.S. Treasuries are worth a look by
investors as they are yielding in the upper half of his
projected trading range.
(Reporting By Jennifer Ablan; Editing by Bernard Orr)