(Adds Jeffrey Gundlach webcast and Pimco figures)
By Jennifer Ablan and Sam Forgione
April 2 The DoubleLine Total Return Fund
, which is overseen by high-profile investor Jeffrey
Gundlach, had inflows totaling $263.8 million in March and $211
million in the first quarter, DoubleLine Capital said on
Los Angeles-based DoubleLine Capital saw $441.2 million of
net inflows into all of its open-end mutual funds in March and
$486.7 million in the first quarter.
DoubleLine Total Return produced gains of 2.396 percent in
the first quarter, surpassing 82 percent of its peers, according
to Morningstar. But it posted returns of negative 0.138 percent
in March, lagging 53 percent of its peers, according to
DoubleLine, which manages approximately $49 billion in
assets, could be a beneficiary of pension funds, foundations and
endowments reallocating some of their stock exposure into bonds.
In a webcast on Jan. 14, Gundlach said institutional
investors were likely to allocate more capital in fixed-income
securities after a 26.5 percent gain in the Dow Jones Industrial
"With equity profits in 2013, many pension plans will need
to rebalance their portfolios into bonds in 2014 to maintain a
60/40 mix of bonds to equity," Gundlach said.
Meanwhile, DoubleLine has seen one of its bigger
competitors, Pimco, suffer outflows for the same time period.
Pacific Investment Management Co. has been rattled by a
management shakeup and disappointing performance.
Investors pulled $7.3 billion from Pimco's U.S. open-end
mutual funds in March, the 10th straight month of outflows for
the Newport Beach, Calif. firm, according to Morningstar data on
Pimco, overseen by Bill Gross, had $15.45 billion of
outflows from U.S. open-end mutual funds in the first quarter,
Pimco, a unit of European financial services company Allianz
SE, had $1.91 trillion in assets under management as
of Dec. 31, according to the Pimco website.
(Reporting by Jennifer Ablan and Sam Forgione; Editing by James
Dalgleish and Andrew Hay)