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Aug 1, 2014

Gundlach’s DoubleLine Funds see 6th straight month of inflows

NEW YORK, Aug 1 (Reuters) – Jeffrey Gundlach’s DoubleLine
Funds had net inflows of $603 million in July, with its flagship
DoubleLine Total Return Bond Fund attracting net
inflows of $375 million.

DoubleLine Capital, based in Los Angeles, said on Friday its
DoubleLine Total Return Bond Fund ended July with net inflows
totaling $1.9 billion so far this year, and more than $2.7
billion of net inflows into DoubleLine open-end funds.

Aug 1, 2014

High-yield junk bond funds worldwide post $4.4 billion outflows: BofA

NEW YORK (Reuters) – Investors worldwide pulled $4.4 billion out of high-yield junk bond funds in the week ended July 30, marking a third straight week of big withdrawals from the funds, data from a Bank of America Merrill Lynch Global Research report showed on Friday.

The latest outflows from funds that hold the riskier, lower-rated debt brought withdrawals in the past three weeks to $12 billion, according to the report, which also cited data from fund-tracker EPFR Global.

Jul 31, 2014

Pimco Total Return lags 93 pct of peers in July-Morningstar

NEW YORK, July 31 (Reuters) – The Pimco Total Return Fund,
the world’s largest bond fund run by Bill Gross, is ending the
month on a rough note, lagging 93 percent of its peers so far in
July.

According to preliminary Morningstar data on Thursday, the
Pimco Total Return is posting returns of negative 0.49 percent,
while its peer-fund category is putting up returns of 0.26
percent on the month as of July 30.

Jul 18, 2014

Pimco’s Gross sees 10-year T-yield 2.5-3 percent ‘now and for the next few years’

NEW YORK (Reuters) – Bill Gross, chief investment officer of bond giant Pimco, said on Friday the yield on the benchmark 10-year U.S. Treasury note belongs in the 2.50 to 3 percent range “now and for the next few years” if the Federal Reserve remains accommodative.

“When the Fed begins its upward journey – June 2015 – then it must be cautious and probably needs to stop at 2 percent sometime in 2017 because we have a highly levered economy, structural demographic headwinds which lower real growth and the effect of technology and job displacement,” Gross told Reuters.

Jul 2, 2014

Pimco suffers 14th month of outflows at Total Return Fund

NEW YORK (Reuters) – Bill Gross’ Pimco Total Return Fund, the world’s largest bond fund, posted $4.5 billion in net outflows for June, its 14th straight month of investor withdrawals despite an improving performance, Morningstar data showed on Wednesday.

The fund has had $64.1 billion in outflows since May 2013, the data showed. It had $225 billion in assets at the end of last month, down from a peak of $292.9 billion in April 2013.

Jul 1, 2014

Gundlach’s DoubleLine Funds see fifth straight month of inflows

NEW YORK (Reuters) – Jeffrey Gundlach’s DoubleLine Funds said on Tuesday it had net inflows of $527 million in June with its flagship DoubleLine Total Return Bond Fund DBLTX.O attracting net inflows of $503 million.

The Los Angeles-based DoubleLine said its DoubleLine Total Return Bond Fund has seen net inflows totaling more than $1.5 billion so far this year as of June and more than $2.1 billion of net inflows into DoubleLine open-end funds year-to-date as of last month.

Jun 30, 2014

Paulson’s Credit Opportunities fund up 6.6 percent ytd to end-May: source

NEW YORK (Reuters) – Hedge fund manager John Paulson’s credit opportunities and merger arbitrage funds were up 6.6 percent and 3.3 percent year-to-date through the end of May, respectively, easily surpassing their benchmarks, according to an investor in attendance at Paulson & Co’s recent mid-year client event.

Paulson, who runs more than $21 billion and made headlines last week on news he amassed a large stake in Allergan Inc of more than six million shares and supports a deal between the Botox maker and Valeant Pharmaceuticals Inc, told clients at the recent London event that merger arbitrage spreads are “becoming attractive,” noting Allergan and Mallinkckrodt’s acquisition of Questcor Pharma.

Jun 21, 2014

Analysis – Yellen gives the green light for more stock gains

NEW YORK (Reuters) – Federal Reserve chief Janet Yellen signaled that rational exuberance is just fine.

That, at least, is how some of America’s largest money managers interpreted her comments on Wednesday suggesting interest rates will remain low through 2016.

Jun 20, 2014

Yellen gives the green light for more stock gains

NEW YORK (Reuters) – Federal Reserve chief Janet Yellen signaled that rational exuberance is just fine.

That, at least, is how some of America’s largest money managers interpreted her comments on Wednesday suggesting interest rates will remain low through 2016.

Jun 19, 2014

Omega’s Einhorn says bull market in U.S. equities not over

NEW YORK (Reuters) – Steven Einhorn, vice chairman of hedge fund Omega Advisors Inc, said Thursday that the bull market in U.S. equities was not over and predicted the Standard & Poor’s 500 Index will rise another 3-5 percent by year-end.

In an interview with Reuters, Einhorn, a top executive at Leon Cooperman’s $10.5 billion hedge fund Omega, said Federal Reserve chair Janet Yellen on Wednesday made clear that the U.S. central bank will keep monetary policy “easy for an extended period of time” which is supportive of stock prices.