DoubleLine Total Return Fund Will Likely Close to New Investors

Offering may stop accepting new money by early 2014, says Manager Jeffrey Gundlach.

Buyers offering their cash
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As for DoubleLine Total Return Bond, Gundlach says it's too early to predict how long the fund, once closed, will remain off limits to new investors. "Closing something is sort of an abstract idea," he says. He suggests that if new opportunities were to emerge and make it feasible to put more money to work, he would consider reopening the fund. "In the first quarter of 2009, I probably could have invested something close to $1 trillion," he says. "[But] those periods like early 2009 don't happen all that often."