Fixed Income Asset Allocation Team
- The Fixed Income Asset Allocation Committee has been working together on average over 15 years
- Allocation decisions are team based
- Jeffrey Gundlach is the Chairman of the Committee
Jeffrey Gundlach, CIO & Chairman - Fixed Income Asset Allocation Committee (FIAA)
Jeffrey Sherman, Deputy CIO
Samuel Lau, FIAA Strategist
Jeff Mayberry, FIAA Strategist
Philip Barach, Portfolio Manager – Agency MBS
William Campbell, Portfolio Manager – International Fixed Income
Morris Chen, Portfolio Manager – CMBS/CRE
Robert Cohen, Portfolio Manager – Director of Global Developed Credit
Samuel Garza, Portfolio Manager – CLOs & Multi-Asset
Andrew Hsu, Portfolio Manager – ABS & Infrastructure
Luz Padilla, Portfolio Manager – Director of International Fixed Income
Ken Shinoda, Portfolio Manager – Non-Agency MBS
Gregory Whiteley, Portfolio Manager - Government
Jeffrey Gundlach CIO & Chairman - Fixed Income Asset Allocation Committee (FIAA)
Jeffrey Gundlach is the Chief Executive Officer of DoubleLine. He is recognized as an expert1 in bonds and other debt-related investments. In 2011, he appeared on the cover of Barron's as "The New Bond King". In 2012, Bloomberg Markets magazine named him one of the "50 Most Influential". In 2013, Mr. Gundlach was named "Money Manager of the Year" by Institutional Investor. In 2015, Bloomberg Markets magazine again named him one of the "50 Most Influential". Mr. Gundlach is a graduate of Dartmouth College, summa cum laude, with degrees in Mathematics and Philosophy.
- Money News on May 26, 2011: Headline of the story: Bond Expert Gundlach: Housing Collapse to Spark Second Financial Meltdown. Morningstar on January 5, 2012: "...Jeffrey Gundlach, a high-profile fixed-income expert...”
Jeffrey Sherman Deputy CIO
As DoubleLine’s Deputy Chief Investment Officer, Jeffrey Sherman oversees and administers DoubleLine’s Investment Management sub-committee coordinating and implementing policies and processes across the investment teams. He also serves as lead portfolio manager for multi-sector and derivative-based strategies. He is a member of DoubleLine’s Executive Management and Fixed Income Asset Allocation Committees. He can be heard regularly on his podcast “The Sherman Show” (@ShermanShowPod) where he interviews distinguished guests, giving listeners insight into DoubleLine’s current views. In 2018, Money Management Executive named Jeffrey Sherman as one of “10 Fund Managers to Watch” in their yearly special report. Prior to joining DoubleLine in 2009, he was a Senior Vice President at TCW where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios. Mr. Sherman was a statistics and mathematics instructor at both the University of the Pacific and Florida State University. He taught Quantitative Methods for Level I candidates in the CFA LA/USC Review Program for many years. He holds a BS in Applied Mathematics from the University of the Pacific and an MS in Financial Engineering from the Claremont Graduate University. He is a CFA charterholder.
Samuel Lau FIAA Strategist
Mr. Lau joined DoubleLine in 2009. He is a portfolio manager on DoubleLine’s strategic commodity strategy while working in portfolio management and trading for derivatives-based and multi-asset strategies. His research has contributed to the team’s development of DoubleLine’s smart-beta strategies including the Shiller Enhanced CAPE and Shiller Enhanced International CAPE along with DoubleLine’s strategic commodity strategy. Mr. Lau is a contributing member on our Global Asset Allocation, Macro and Fixed Income Asset Allocation committees where he provides macro economic and sector commentary. He continues to represent DoubleLine as a featured panelist and guest speaker at different industry and client events, as well as authoring several internal news pieces, articles and white papers. Prior to DoubleLine, he was a Vice President at TCW where he worked under Mr. Gundlach as a research analyst in the Mortgage Group. Mr. Lau holds a BS from the University of Wisconsin, Madison as well as an MBA from the Marshall School of Business at the University of Southern California.
Jeff Mayberry FIAA Strategist
Mr. Mayberry is a portfolio manager on DoubleLine’s strategic commodity strategy while working in portfolio management and trading for derivatives-based and multi-asset strategies. He joined DoubleLine in 2009 where he oversaw portfolio analytics, risk management and the development of portfolio management systems. He moved to his current role on the Macro-Asset Allocation team in 2014. His research has contributed to the team’s development of DoubleLine’s smart-beta strategies including the Shiller Enhanced CAPE and Shiller Enhanced International CAPE along with DoubleLine’s strategic commodity strategy. Mr. Mayberry is a contributing member on the Global Asset Allocation and Fixed Income Asset Allocation committees where he provides macro economic and sector commentary. He continues to represent DoubleLine as a featured panelist and guest speaker at different industry and client events, as well as authoring several internal news pieces, articles and white papers. Prior to DoubleLine, he was a Senior Vice President at TCW where he worked for nine years. Mr. Mayberry worked in the Mortgage Group, specializing in systems monitoring and development. He developed “real-time” asset and liability valuations for the Mortgage Group’s portfolio and fund monitoring systems, and was responsible for all day-to-day operations of the Mortgage Group’s database systems and analytics. Mr. Mayberry holds a BS in Engineering from Harvey Mudd College and an MS in Financial Engineering from the Peter F. Drucker Graduate School of Management at Claremont Graduate University.
Philip Barach Portfolio Manager – Agency MBS
Mr. Barach is co-founder and President of DoubleLine Capital. Prior to DoubleLine, Mr. Barach was Co-Founder and Group Managing Director of the TCW Mortgage Group where he spent over 23 years. He has over 32 years of fixed income investment experience. Before joining TCW, Mr. Barach was Senior Vice President of Chief Investments for Sun Life Insurance Company in Los Angeles, where he was responsible for the asset/liability management of the firm and oversight and management of the company’s $5 billion investment portfolio. Previously, he served as Principal Fixed Income Officer for the California Public Employees’ Retirement System (CalPERS), the largest pension plan in the country. In that capacity, he was responsible for managing the fixed income portion of the fund which was 100% internally managed. He attended the Hebrew University of Jerusalem, where he received a BA in International Relations and an MBA in Finance.
William Campbell Portfolio Manager – International Fixed Income
Mr. Campbell is a Portfolio Manager for the DoubleLine Global Bond Fund. Mr. Campbell joined Doubleline in 2013 as an Emerging Markets Sovereign Analyst. He covers Developed Markets, Central & Eastern Europe, Middle East and Africa (CEEMEA), and China. Prior to joining DoubleLine, Mr. Campbell worked for Peridiem Global Investors as a Global Fixed Income Research Analyst and Portfolio Manager. Previous to that, he spent over 5 years with Nuveen Investments, first as a Quantitative Analyst in their Risk Management and Portfolio Construction Group, then as a Vice President in their Taxable Fixed Income Group. Mr. Campbell also worked at John Hancock Financial as an Investment Analyst. Mr. Campbell received his BS in Business Economics and International Business, as well as his BA in English, from Pennsylvania State University. He received his MA in Mathematics, with a focus on Mathematical Finance, from Boston University.
Morris Chen Portfolio Manager – CMBS/CRE
Mr. Chen joined DoubleLine in 2009 where he oversees the CMBS/CRE Investment team managing all commercial real estate strategies and funds, including a dedicated CMBS B-Piece/CRE Whole Loan Fund. At DoubleLine, Mr. Chen participates in the Fixed Income Asset Allocation and Global Asset Allocation committees contributing valued insight into the CMBS sector. Mr. Chen is also an active participant and speaker at CREFC events. Prior to DoubleLine, he was a Vice President at TCW where he was responsible for CMBS bond analysis and trading from 2003-2009. Mr. Chen graduated from the University of California, Riverside with a B.S. in Business Administration and a concentration in Business Development and Finance.
Robert Cohen Portfolio Manager – Director of Global Developed Credit
Mr. Cohen joined DoubleLine’s Global Developed Credit Group in 2012. He is the Director of the group and also a permanent member of the Fixed Income Asset Allocation committee. Prior to DoubleLine, he was a Senior Credit Analyst at West Gate Horizons Advisors (and its predecessor ING Capital Advisors) where he worked as an analyst covering bank loans and high yield bonds since 2001. Prior to joining ING, Mr. Cohen was an Assistant Vice President in the Asset Management Group of Union Bank. At Union Bank, Mr. Cohen managed a diversified portfolio of leveraged loans as well as a portfolio of CDO securities. Prior to Union Bank, he was an Associate Director of Corporate and Investment Banking at the Bank of Montreal in their Natural Resources Group. He holds a BA in Economics from the University of Arizona and an MBA from the University of Southern California. He is a CFA charterholder.
Samuel Garza Portfolio Manager – CLOs & Multi-Asset
Mr. Garza joined DoubleLine in 2009. Prior to DoubleLine, Mr. Garza was a Senior Vice President at TCW since 2000 where he held several positions over the years ending with his last promotion to Senior Vice President in 2005. Prior to TCW, Mr. Garza worked at Union Bank of California in the Commercial Banking Group where he was involved with corporate loan underwriting. Mr. Garza holds a BA in Business Economics from the University of California, Santa Barbara and an MBA from the Anderson School of Management at the University of California, Los Angeles.
Andrew Hsu Portfolio Manager – ABS & Infrastructure
Mr. Hsu has been a member of the investment team at DoubleLine sinceits inception in 2009. He is currently a Global Infrastructure Investments portfolio manager. Prior to that, he was responsible for analysis and trading of structured products where his focus included Residential MBS and ABS transactions. His responsibilities have also included structuring and negotiating terms on new issue transactions and forming strategic partnerships with issuing entities in order to participate in key transactions. Within the ABS sector, he has been involved in transactions involving Aircraft securitizations, franchise royalties, student loans and small business loans. Prior to DoubleLine, Mr. Hsu joined TCW in 2002 where he was focused on credit analysis for structured product securities and co-managed two structured product funds focusing on debt and equity investments. During this time, Mr. Hsu was actively involved with portfolio management decisions and investment analysis, including reverse engineering complex CDO/CLO structures. Prior to joining TCW, Mr. Hsu worked at InteCap as a consultant focusing on the valuation of intangible assets. Mr. Hsu obtained a BS in Finance from the University of Southern California and is a CFA charterholder.
Luz Padilla Portfolio Manager – Director of International Fixed Income
Ms. Padilla joined DoubleLine in 2009 as the Director of the Emerging Markets Group and is the lead Portfolio Manager. Prior to DoubleLine, she was a Managing Director at TCW. She began working at TCW in 1994, where she had served in a number of roles of increasing responsibility with the group, including Credit Analyst, Director of Research, Co-Portfolio Manager since December 2001, and lead Portfolio Manager since October 2006. She was involved in all aspects of building and managing TCW's Emerging Markets Fixed Income business including credit, securitization, trading and marketing. Ms. Padilla attended University of California at Berkeley as a fellow of the Robert A. Toigo Foundation and graduated with an MBA in 1994. Ms. Padilla received her BA in Economics in 1989 from Stanford University in Palo Alto, California.
Ken Shinoda Portfolio Manager – Non-Agency MBS
Mr. Shinoda joined DoubleLine in 2009. He is a Portfolio Manager in the Mortgage-Backed Securities Group and also participates in the Fixed Income Asset Allocation and Global Asset Allocation committees. He specializes in trading and managing agency mortgages, mortgage credit securities, and currently leads the residential whole loan team at DoubleLine, which specializes in non-securitized mortgage assets and opportunities. Prior to DoubleLine, Mr. Shinoda was a Vice President at TCW where he also worked in portfolio management and trading from 2004-2009. Mr. Shinoda graduated from the University of Southern California with a BS in Business Administration. He is a CFA charterholder.
Gregory Whiteley Portfolio Manager - Government
Mr. Whiteley joined DoubleLine in 2009. He is a portfolio manager responsible for managing and trading U.S. Government securities. Prior to DoubleLine, he was a Senior Vice President and portfolio manager at TCW for fourteen years. He started at TCW when they acquired Continental Asset Management in 1995, where he had worked since 1990. At CAM, he served as Vice President and Portfolio Manager, Taxable Fixed Income Investments, specializing in mortgage-backed securities. Prior to that, Mr. Whiteley was a Fixed Income Portfolio Analyst with Salomon Brothers, Inc. He holds a BA in Economics from the University of Washington and an MBA in Finance from Columbia University.