Aston Asset Management has launched the Aston/DoubleLine Core Plus Fixed Income Fund. Aston will serve as the investment advisor to the fund and DoubleLine Capital, which specializes in core fixed income, mortgage-backed securities, global developed credit, emerging markets debt and global asset allocation, will act as sub-advisor.
“Led by Jeffrey Gundlach, the DoubleLine portfolio management team has extensive experience in managing fixed income portfolios,” said Stuart D. Bilton, chairman and chief executive officer of Aston. “We are delighted to be opening this new fund with DoubleLine, which provides mutual fund investors the opportunity to participate in a unique strategy that blends active sector management with bottom-up security selection.”
Gundlach, DoubleLine CEO, is the lead portfolio manager of the fund and is assisted by Portfolio Managers Philip Barach, DoubleLine president and head of the global developed credit group, and Luz Padilla, head of the emerging markets fixed income group at DoubleLine.
“We are excited to offer our core plus fixed income strategy in a mutual fund format,” Gundlach said. “The fund is designed to be used as the stand-alone taxable bond fund or could be used as a more dynamic complement to a traditional index-centric, plain-vanilla bond fund. At DoubleLine, our philosophy centers on the avoidance of risk-taking with inadequate compensation. We emphasize the importance of security selection, trade execution, portfolio construction and sector allocation to manage risk and generate returns.”
The fund will invest at least 80% of its portfolio in U.S. and developed country corporate securities that at investment and also non-investment grade, as well as U.S. government issues, developed market sovereign issues, mortgage-backed securities and emerging markets fixed income securities.