DoubleLine Capital, an investment-management company founded by veteran bond manager Jeffrey Gundlach, launched two mutual funds investing in bonds. Gundlach and DoubleLine President Philip Barach will manage the DoubleLine Total Return Bond Fund, which focuses on mortgage-backed securities. Luz Padilla, who previously managed the TCW Emerging Markets Income Fund, will manage the DoubleLine Emerging Markets Fixed Income Fund. DoubleLine sells funds directly through its Web site, with no commission or sales charges.

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