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Market Extra: Gundlach’s DoubleLine sees biggest monthly outflow since ‘taper tantrum’

DoubleLine Capital on Friday said its funds had collectively posted net outflows in November, with monthly share redemptions exceeding subscriptions for the first time since January 2014, which was during the tail end of the Federal Reserve’s so-called “taper tantrum.”

Net outflows totaled $990.5 million in the month, with bond funds seeing particular outflows, a trend that matched the broader market. While DoubleLine, which is run by Chief Executive Officer Jeffrey Gundlach, saw positive flows for its equity funds in the month, this was overshadowed by the retreat in fixed income.

The DoubleLine Total Return Bond Fund—the firm’s largest fund by assets, with $59.2 billion—saw $1.4 billion in outflows over the month, the third largest monthly outflows in the fund’s history.

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