Jeffrey Gundlach’s flagship DoubleLine Total Return Bond Fund posted redemptions for the second straight month in November as surging yields sent investors fleeing from fixed-income products.

The fund had outflows of $1.4 billion, following October’s $33.2 million in withdrawals, according to an e-mail Friday from Los Angeles-based DoubleLine Capital. DoubleLine’s open-end mutual funds collectively posted net withdrawals of $990.5 million, the first aggregate outflows in almost three years. Investors added $48.8 million to the DoubleLine Core Fixed Income Fund and $171.7 million to the DoubleLine Shiller Enhanced CAPE fund.

Gundlach’s biggest fund has powered growth at DoubleLine since it was launched in 2010, leading the firm to $106 billion in assets as of the end of the third quarter after years of strong performance. Investors industrywide withdrew an estimated $4.6 billion from U.S. taxable-bond funds from Oct. 27 through Nov. 22, according to the Washington-based Investment Company Institute, as fixed-income prices fell and yields jumped following the presidential election.

Bond Unfriendly

Gundlach, who consistently predicted a Donald Trump victory despite pre-election polls giving a lead to Hillary Clinton, has said the new president is likely to be “bond unfriendly” because his proposals will drive up yields by increasing national debt and stoking inflation. He warned Thursday that the post-vote stock rally was losing steam. “There is going to be a buyer’s remorse period,” Gundlach said in an interview with Reuters.

Prior to October, DoubleLine’s open-end funds last had monthly net redemptions in January 2014, following the so-called taper tantrum, according to the firm’s release.

The roughly $59.2 billion DoubleLine Total Return, which invests primarily in mortgages, lost 1.5 percent in November, according to data compiled by Bloomberg. It’s up 4.1 percent annually over the last five years, beating 93 percent of its peers.

This article was provided by Bloomberg News.