New 'bond king' Jeff Gundlach raking in the cash

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Jeff Gundlach's DoubleLine Capital is raking in cash despite uncertainty about the bond market.

DoubleLine's mutual funds took in assets of $3.04 billion in January, a record monthly net inflow for the money manager since it opened to investors in April 2010, according to data disclosed by the firm. The previous largest inflow was $2.67 billion in February 2012.

Gundlach's largest offering, the DoubleLine Total Return Bond Fund , also had a record amount of money come in over January. The fund had a net inflow of $2.59 billion for the month, exceeding the previous record of $2.40 billion in February 2012. The fund, which has significant investments in mortgage-backed securities, has $43.6 billion in assets.

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DoubleLine managed $64 billion across all vehicles as of the Dec. 31, up from more than $55 billion on Sept. 30. and $49 billion on March 31.

The DoubleLine Total Return Bond retail share-class fund ("N") produced a 6.47 percent return in 2014, compared to a 5.97 percent gain for the benchmark Barclays U.S. Aggregate Bond Index. The fund gained 1.41 percent in January 2015.

Gundlach had a big year in 2014 as he was one of only a handful of fixed income experts to predict that government bond yields would fall during the year. His name also was prominent in the news during Bill Gross' messy breakup with Pimco amid reports that Gross had approached Gundlach about joining DoubleLine. Gross ultimately went to Janus Capital.

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