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By Eric Jacobson | 12-30-2009 03:09 AM

Rivelle: TCW Total Return Strategy Intact

Metropolitan West CIO and TCW Total Return manager Tad Rivelle says recent sales to meet outflows went very smoothly.

Eric Jacobson: Hi. I'm Eric Jacobsen with Morningstar. I'm the director of fixed income research, and I'm here with Tad Rivelle. Tad is the chief investment officer of Metropolitan West Asset Management, and as a result of a recent combination of his firm with TCW, also in charge of the high-grade bond area at TCW, as well. Tad, thanks so much for joining us.

Tad Rivelle: Thank you, Eric. Appreciate it. Thank you.

Jacobson: Tad, let me start with a few questions just about the combination of the firms. I know you've been asked some of these things before, but for now anyway--and you can explain that if necessary--is there any difference in the way that any of the portfolios on either side are being managed in terms of their mandates as a result of your team coming in?

Rivelle: Our prime directive is to maintain stylistic consistency, both with respect to the Met West portfolios as well as the TCW portfolios. So though the team is now able to draw upon the combined resources of both the TCW half as well as the Met West half, the management of the portfolios has been very consistent.

Jacobson: I know that with some of the changes that happened when you came in here, in particular the TCW Total Return Fund, it's been widely reported, had some pretty swift redemptions early on. I gather that it's tapered off some, but the numbers, they change from day to day, so maybe you can kind of give us an update as to where it stands now relative to day one when that started happening, and how you are feeling about managing that.

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