Bond King: Five years on, Jeff Gundlach's DoubleLine thrives

Jeffrey Gundlach, CEO of DoubleLine Capital, is betting that the best way to play the coming rate hikes is by holding lots of mortgages.
Harriet Taylor | CNBC

Five years after launching his own investment firm, Jeff Gundlach is on top of the bond world.

Gundlach, famously fired by Trust Company of the West in December 2009, took dozens of employees with him and launched DoubleLine Capital that same month.

His flagship DoubleLine Total Return Bond Fund—launched in April 2010 amidst a nasty legal battle with TCW—has grown to manage $46 billion. The fund has posted stronger returns than every other U.S. intermediate bond fund since its inception.

Add products like a stock-focused mutual fund, mortgage-backed security-heavy hedge fund strategies, and a fixed income exchange-traded fund, and overall assets have rocketed to $73 billion as of March 31.

"Thanks to the investor and advisor communities, and the hard work by our risk management and investment teams, DoubleLine has enjoyed extraordinary growth over the last 5 years," Loren Fleckenstein, an analyst at the Los Angeles-based firm, told