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Gundlach's DoubleLine Plans To Shutter Its Equities Growth Fund

TedTed
in Fund Discussions
FYI: DoubleLine Capital, which oversees some $90 billion in assets, is shutting down its three-year old DoubleLine Equities Growth Fund, a spokesman said on Wednesday
Regards,
Ted
http://www.reuters.com/article/us-funds-doubleline-idUSKCN0W42TR

M* Snapshot DDEGX:
http://www.morningstar.com/funds/XNAS/DDEGX/quote.html

Comments

  • rabockma
    Good idea - these guys are not equity investors and with a 99% one year ranking among Large Growth caps no great loss.
  • msf
    Even better marketing idea - shut it down one month before M* gives it a 1* rating. (It would have been three years old on April Fool's day.)
  • MOZART325
    Yet another example of survivorship bias in historical returns. Doubleline doesn't want this fund to show up in their historical performance record.
  • msf
    On a dollar-weighted basis, the impact on industry performance figures is de minimis.

    Just as I don't look at inflated (unweighted) expense ratios - 1.25% for the average fund vs. 0.71% for the average dollar (2013) - I don't pay much heed to all the noise from short-lived, scrawny funds.
    http://corporate.morningstar.com/US/documents/researchpapers/Fee_Trend.pdf

    While these petty funds don't move the industry needle, they can affect fund families' reputations that are built on high star ratings. For example, T. Rowe Price touts over 60 4 and 5 star funds.
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