Jennifer's Feed
Jul 2, 2015

Pimco Total Return Fund stabilizes while Pimco Income gains

NEW YORK (Reuters) – Investors pulled $3 billion in assets from Pacific Investment Management Co’s flagship fund in June, compared with $2.7 billion the previous month, in another sign Pimco is stabilizing since last fall’s departure of star manager Bill Gross.

The Pimco Total Return Fund had cash withdrawals of $5.6 billion in April and $7.3 billion in March, according to the Newport Beach, California-based firm. Assets in the fund have plunged to $102.8 billion from a peak of $293 billion in April 2013.

Jul 2, 2015

China joins Greece, Puerto Rico on investors’ watchlists

NEW YORK (Reuters) – Greece’s full-blown debt crisis and Puerto Rico’s unfolding one have dominated headlines all week, but some of the biggest U.S. investors have China at the top of their worry lists.

Jeffrey Gundlach, Bill Gross, Dan Ivascyn, Mohamed El-Erian, and David Rosenberg are among the money managers keeping close watch of China where markets have been under severe selling pressure despite moves by regulators to restore confidence.

Jul 1, 2015

Jeffrey Gundlach’s DoubleLine funds had 17th month of inflows in June

NEW YORK, July 1 (Reuters) – DoubleLine Funds, whose
co-founder Jeffrey Gundlach is widely followed for his
investment calls, on Wednesday reported $477 million in net
additional investments in June, the 17th consecutive month it
has attracted new money.

The Los Angeles-based firm said the DoubleLine Total Return
Bond Fund, its largest portfolio by assets, also had positive
inflows in June.

Jul 1, 2015

Bill Gross gets co-manager on Janus Global Unconstrained Bond

NEW YORK (Reuters) – Star bond fund manager Bill Gross will be getting help running his struggling Janus Capital Group Inc mutual fund from Kapstream Capital Pty Ltd’s Kumar Palghat, Janus said on Wednesday after acquiring a majority stake in Kapstream.

Gross, who began managing the Janus Global Unconstrained Bond Fund in October, will continue to be primary portfolio manager, Denver-based Janus said. Palghat will be co-portfolio manager.

Jun 30, 2015

Bill Gross warns mutual funds, hedge funds, ETFs vulnerable in liquidity pullback

NEW YORK, June 30 (Reuters) – Bond investing guru Bill Gross
is warning investors and markets that mutual funds, hedge funds
and Exchange-Traded Funds are most vulnerable when liquidity
becomes scarce.

“Mutual funds, hedge funds, and ETFs, are part of the
“shadow banking system” where these modern “banks” are not
required to maintain reserves or even emergency levels of cash,”
Gross said in his latest Investment Outlook on Tuesday.

Jun 29, 2015

Gundlach says purchased ‘lots’ of Treasuries, Ginnie Maes on Friday

NEW YORK (Reuters) – Jeffrey Gundlach, a widely followed investor who oversees DoubleLine Capital, said in an interview on Monday his firm had purchased “lots of Treasuries and Ginnie Maes” on Friday, ahead of new developments in the Greek and Puerto Rico crises.

The U.S. Treasuries market rallied on Monday, with yields falling to one-week lows, as a breakdown in talks between Greece and its creditors stoked bets Athens would default on its debt.

Jun 12, 2015

SPDR DoubleLine Total Return beats actively managed bond ETF group

NEW YORK, June 12 (Reuters) – DoubleLine Capital’s first
actively managed exchange-traded fund, the SPDR DoubleLine Total
Return Tactical ETF, drew $182 million of inflows in
May, boosting its assets above $600 million in less than four
months, its administrator said on Friday.

The fund, co-managed by widely followed investor Jeffrey
Gundlach, had $605.70 million in total assets, according to
State Street Global Advisors, which partnered with DoubleLine to
bring the product to market.

Jun 11, 2015

U.S.-based junk bond funds see $2.6 billion in weekly outflows

NEW YORK (Reuters) – Investors in U.S.-based funds yanked $2.6 billion from high-yield “junk” portfolios in the week ended June 10, the most in five weeks, data from Thomson Reuters’ Lipper service showed on Thursday.

The cash withdrawals stemmed from exchange-traded-fund investors pulling capital from the iShares iBoxx $ High Yield Corporate Bond Fund, $1.06 billion, and the SPDR Barclays High Yield Bond ETF, $762 million, said Jeff Tjornehoj, head of Americas research at Lipper.

Jun 10, 2015

Pimco expects Fed to begin raising rates in September

NEW YORK (Reuters) – Pimco expects the U.S. Federal Reserve to begin raising interest rates later this summer, most likely in September, which could be the start of a multiyear normalization process, the firm’s chief investment officer of U.S. core strategies said on Wednesday.

“While the process will likely be slow compared to past rate hike cycles, if the Fed manages to stabilize inflation at its target of 2 percent, then the central bank should get to the neutral policy rate of 2 percent–2.5 percent within a couple of years,” Scott Mather said in a report. The neutral rate is the point at which the rate is neither stimulative nor contractionary.

Jun 9, 2015

DoubleLine’s Gundlach sees odds of Fed hike by Dec. under 50 percent

NEW YORK (Reuters) – Jeffrey Gundlach, chief executive of investment firm DoubleLine Capital, said on Tuesday he still believes the U.S. Federal Reserve will probably not raise interest rates this year, in part because of a lack of wage inflation.

Gundlach, reiterating his Federal Reserve call first made in early May, said on a client webcast that odds of a Fed rate increase in December are less than 50 percent and under 30 percent in September.