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By Eric Jacobson | 12-23-2009 12:51 PM

Gundlach's DoubleLine Gets Going

Jeffrey Gundlach says his new firm DoubleLine is already gathering assets and has attracted several key portfolio managers, analysts, and traders from TCW.

Eric Jacobson: Hi, I'm Eric Jacobson, director of fixed income research for Morningstar. We're here with Jeffrey Gundlach. Jeffrey is the chief investment office and CIO of Double Line, a new firm that he started up after leaving TCW recently. Jeffrey, thanks for joining us today.

Jeffrey Gundlach: Thanks for coming, Eric.

Jacobson: Jeffrey, I think a lot of people are very interested to hear the progress of what's going on with your work. We were just talking, and you said that the firm's been up and running for more than a few days now. I gather that you're working toward a lot of the regulatory requirements to get the business bigger and broader. But you mentioned that you're already starting to take in some assets and so forth, so maybe you can tell us a little bit about that.

Gundlach: Right, Eric. The way it works is that until we get our registration we have to operate as an unregistered investment advisor. Fortunately, and it's very gratifying, we have many clients, former clients too, that really support the team and are very interested in working with us, given their experience of the past. And so right away we had clients move their portfolios over to DoubleLine as an unregistered advisor. We can have 14 non-ERISA clients. And we're up near to 10 now, so we have a couple billion of AUM and revenue and clients. And there's others that we're working on, the IMAs, the management contracts, that will probably be at DoubleLine by year end.

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