“Questions remain regarding risk controls, firm culture, and details around succession planning,” Morningstar’s Sarah Bush wrote. “The firm appears to have begun to address succession and key-person risk by promoting Jeffrey Sherman to deputy CIO in 2016, but it is still unclear how the many responsibilities of founder Jeffrey Gundlach would be handled should he step down from the firm, an admittedly unlikely event.”
Nazeeh Aranki, a DoubleLine Total Return investor since 2010, added the CAPE fund to his portfolio this year.
“Gundlach, he’s very assertive,” said Aranki, who advises clients with about $55 million at Western International Securities. “He speaks with very high confidence, like he knows it all. Sherman is a little more humble and more pleasant.”
Even Gundlach concedes that Sherman comes across as more congenial.
“They like him more than me, which is great,” Gundlach told Bloomberg.
This article was provided by Bloomberg News.