Some two and a half years after its acrimonious divorce with legendary bond investor Jeff Gundlach, TCW Group has managed to double mutual fund assets to $40 billion from $19.6 billion in 2009, InvestmentNews.
After Gundlach’s contentious firing in late 2009, investors pulled around $25 billion from TCW. A flurry of lawsuits, since resolved, followed the dismissal. The company acquired Metropolitan West Asset Management on the same day it fired Gundlach, and the combined unit saw $4.6 billion in net deposits this year. The majority of inflows went to the Metropolitan West Total Return Bond Fund.
InvestmentNews reports that Gundlach’s DoubleLine Total Return Bond Fund has some $27 billion in assets compared to the MetWest fund’s $20.6 billion. So, some catch up still remains.