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DoubleLine Floats Strategic Income Fund

Hedge fund firm, DoubleLine Capital, has launched its second portfolio in a joint-venture with RiverNorth Capital Management.

Hedge fund firm, DoubleLine Capital, has launched its second portfolio in a joint-venture with RiverNorth Capital Management. The RiverNorth DoubleLine Strategic Income Fund is designed to capitalize on market inefficiencies in both closed-end funds and the fixed-income markets.

The portfolio, which was launched in December 2010, will be managed by DoubleLine or its founder Jeffrey Gundlach, former CIO of TCW Group. The vehicle is targeting a 6% annual yield after expenses.

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