Jeff Gundlach's upstart bond fund has gone from the new kid on the block to a full-fledged grown-up in relatively little time.
In just a year and a half, the DoubleLine Capital CEO has watched the firm's Total Return Tactical exchange-traded fund emerge as a major player in the industry.
Now, Gundlach's TOTL fund is about to reach a pretty important milestone: It soon will have more assets under management than the Pimco Total Return Active ETF, an important move considering the BOND fund was started by fixed income legend Bill Gross, and the firms differ enormously in size.
Gundlach's fund most recently had $2.55 billion in assets, compared with the Pimco fund's $2.57 billion. The Pimco offering has seen $944.6 million in outflows since Gross left, according to ETF.com.
As a firm, the amount DoubleLine manages for clients recently crossed $100 billion, while Pimco manages $1.5 trillion. TOTL has attracted $664 million year to date, while BOND has seen $89.8 million in outflows.