:quality(75))
Jeff Gundlach was dubbed the “Bond King” for his fixed-income prowess, but now his DoubleLine Capital is underperforming competitors along with the Barclays Aggregate Bond Index.
In fact, DoubleLine's $60B fund is in the bottom tier of comparable funds—up only 3.2% year to date, MarketWatch reports. Gundlach attributes the decline to record low yields brought on by a sharp rally in Treasury's, and if his fund continues to underperform it will be the first time Gundlach has fallen behind the benchmark.
“When I accumulate all the things that have gone wrong, it’s like a perfect storm of negativity for (DoubleLine),” Gundlach said last month. On a positive note, in the long run DoubleLine has been a strong fund—with a 5.2% five-year annualized total return compared to the Index’s 3.8%. [MW]
)
)
)
)
)
)
)
)
){kind=logo}
)
)
)