DoubleLine Funds, whose co-founder Jeffrey Gundlach is widely followed for his investment calls, on Friday reported $945 million in net additional investments in April, the 15th consecutive month it has attracted new money.

The Los Angeles-based firm said the DoubleLine Total Return Bond Fund, its largest portfolio by assets, also had positive inflows in April.

The Total Return attracted a net inflow of $633 million last month, compared with $851 million in March. It has $46.2 billion in assets under management and invests primarily in mortgage-backed securities.

The fund, which marked its five-year anniversary last month, delivered an annualized total return of 7.81 percent as of April 30, ranking it No. 1 in the Morningstar intermediate-term bond category.

DoubleLine's Core Fixed Income Fund, which invests in various intermediate-term bonds, had net inflows of $172 million in April, compared with $86 million in March.

The fund, with $4.2 billion in total assets, had record net monthly inflows of $495 million in December.

Both Total Return and Core Fixed Income are open-end funds.

"Gundlach has high visibility because of his long-term track record with his performance and investment calls," said Todd Rosenbluth, director of ETF and mutual fund research at S&P Capital IQ.

The SPDR DoubleLine Total Return Tactical exchange-traded fund, introduced on Feb. 24, had $232.5 million in assets at the end of March. In April, the ETF's assets increased to $405 million.

 

Last year, Gundlach correctly predicted that U.S. Treasury yields would fall, not rise as many had forecast, because inflationary pressures were non-existent and technical factors, including aging demographics, were at play.

In an interview this week, Gundlach said he did not like interest rates being so low.

"I like the 3 percent 10-year; I'd like a 4 percent 10-year," he said. "I don't think we are going to get there anytime soon. It'd be nice if yields were higher."

The yield on the benchmark 10-year Treasury note trades around 2.12 percent.

Gundlach said this has been a pretty unremarkable market for fixed-income investors.

"It's just not a lot of fun," Gundlach said. "It's fun when you buy something where you feel like, 'You know what, I am getting 14 percent on this thing, and I will probably make a 20 percent gain.'"