As for DoubleLine, the next move is expanding into new markets. Filings with the Securities and Exchange Commission show that DoubleLine has five new fund offerings, including three stock mutual funds, in the works. Even as it expands, though, DoubleLine has already taken steps to keep asset growth in check. Recently, for instance, the company closed its hedge fund strategy to new investors. The company's Strategic Income fund (RNDLX), which it runs jointly with RiverNorth, is also closed to new investors.
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."