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That's interesting --- I wonder why he would team up with Aston on the creation of this new bond fund? What type of bond expertise does Aston add to this new bond fund?
Aston is an investment advisor. It does not manage portfolios of its own but uses 17 other managers as sub-advisors. As such, it has no expertise in any asset class. In his conference call on April 19th about his partnering with RiverNorth Strategic Income Fund (RNSIX), Gundlach and Patrick Galley of RiverNorth discussed the fund and its three components or sleeves. Gundlach said that 25% of the fund was currently invested in "Opportunistic Income." That sleeve is 51% non-agency RMBS, 38% agency MBS CMO, 4% CMBS, and 7% cash, differs considerably from the other component he manages within RNSIX, the Core Income portion, and may provide a proxy of how the Aston/Doubleline may invest. It also distinguishes itself from Gundlach's own DLTNX. The The ER is .70.
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