DoubleLine Funds is looking to roll out its first closed-end fund, The Wall Street Journal reports. Jeffrey Gundlach, a former TCW Group bond-fund employee, will be lead manager of the DoubleLine Opportunistic Credit Fund.
The opportunistic bond fund will allocate to debt securities and income-producing investments of any kind. It will be listed on the New York Stock Exchange and commit at least 50% of assets to mortgage-backed securities and 30% to securities issued by foreign entities.
Click here for the story fromThe Wall Street Journal.