The DoubleLine Total Return Bond Fund has reached USD10 billion in assets under management, just 16 months after its launch in April 2010, according to DoubleLine Funds Trust and adviser DoubleLine Capital LP.

Jeffrey Gundlach, Chief Executive Officer of DoubleLine Capital LP and Philip Barach, President of the firm, manage the DoubleLine Total Return Bond Fund (I shares DBLTX; N shares DLTNX). The open-end fund I-share class (DBLTX) is ranked number one, its N-share class (DLTNX) ranked number two, for the one-year period ending 29 July, 2011 in the Morningstar's Intermediate Term Bond Fund category out of 1,161 funds, based on total returns. Both share classes in the fund ranked in the top 1% of all funds ranked for the same period.

DoubleLine manages mutual funds, separately managed accounts and hedge funds. Assets under management at DoubleLine now total USD15 billion across a range of mortgage-backed securities, broad fixed income and multi-asset strategies.  

"Markets have been difficult and volatile since the founding of DoubleLine," Gundlach says. "We have worked very hard to meet our clients' needs, striving for capital preservation and return. And we will continue to do so."