REUTERS / Jessica Rinaldi
It's not really the bond oracle's fault. His DoubleLine Total Return Bond fund has bested 97% of rivals over the past three years.
But investors have yanked a total of $118 billion from
"DoubleLine is sharing in the outflows we're seeing throughout the fixed-income world," DoubleLine analyst Loren Fleckenstein told Bloomberg. "With the investment mood becoming more cautious with regard to fixed income, seeing DoubleLine go from a high-growth phase to a period of consolidation was to be expected."
Gundlach's fund has returned 0.3% year to date, beating out 92% of similar funds, according to Bloomberg.