Aston Adds New Fixed Income Fund Led By Jeffrey Gundlach of DoubleLine

CHICAGO, July 18, 2011 /PRNewswire/ -- Aston Asset Management, LP (Aston) is pleased to announce the addition of a new mutual fund to its family of funds, the ASTON/DoubleLine Core Plus Fixed Income Fund (Tickers: ADBLX N-Class, ADLIX I-Class). The Fund opens to investors on July 18, 2011.

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Aston will act as the investment adviser to the new Fund while DoubleLine Capital LP (DoubleLine) will act as subadviser, responsible for the day-to-day management of the Fund. DoubleLine is an independent asset management firm managing strategies focused on Core fixed income, mortgage-backed securities, global developed credit, emerging markets debt and global asset allocation.

"Led by Jeffrey Gundlach, the DoubleLine portfolio management team has extensive experience in managing fixed income portfolios," said Stuart D. Bilton, Chairman and Chief Executive Officer of Aston. "We are delighted to be opening this new Fund with DoubleLine which provides mutual fund investors the opportunity to participate in a unique strategy that blends active sector management with bottom-up security selection."

The Fund's lead portfolio manager is Jeffrey Gundlach, founder and Chief Executive Officer of DoubleLine. Mr. Gundlach is recognized as a leader in fixed income investment and asset allocation. Morningstar nominated Mr. Gundlach for Fixed Income Manager of the Year for multiple years, and he won the award in 2006. In 2009, he was nominated by Morningstar for Fixed Income Manager of the Decade. In 2010, Mr. Gundlach was named to the SmartMoney Power 30. Fund Action named him Fund Leader of the Year for 2010. He is a graduate of Dartmouth College summa cum laude holding a BA in Mathematics and Philosophy. He attended Yale University as a PhD candidate in Mathematics.

Mr. Gundlach will be joined by co-portfolio managers Philip Barach, President of DoubleLine; Bonnie Baha, head of DoubleLine's Global Developed Credit Group; and Luz Padilla, head of DoubleLine Emerging Markets Fixed Income Group.

"We are excited to offer our Core Plus fixed income strategy in a mutual fund format. The Fund is designed to be used as the stand-alone taxable bond fund or could be used as a more dynamic complement to a traditional index-centric, plain-vanilla bond fund," said Mr. Gundlach. "At DoubleLine, our philosophy centers on the avoidance of risk-taking with inadequate compensation. We emphasize the importance of security selection, trade execution, portfolio construction and sector allocation to manage risk and generate returns."

The Fund seeks to deliver total returns and manage risk through bottom-up securities selection and active sector allocation. Eligible investment sectors include U.S. and developed-country corporate securities, rated investment and non-investment grade; U.S. government issues, including Treasuries and Agency debentures; developed-market sovereign issues; mortgage-backed securities; and emerging markets fixed income securities. The objective of the Fund seeks to maximize total return by investing at least 80% of its net assets (plus the amount of borrowings for investment purposes) in fixed income securities.  

To request more information, please contact Tony Kono at 973-850-7323 or [email protected].

About Aston Asset Management, LP

Aston Asset Management, LP, headquartered in Chicago, Illinois, is a diversified institutional investment management firm. Aston offers investment management services to the mutual fund and separately managed account markets. Aston is the advisor to twenty-five mutual funds with total net assets of approximately $9.6 billion as of June 30, 2011.  For more information on the funds managed by Aston please call 800-597-9704.

About DoubleLine Capital LP

DoubleLine Capital LP is an investment management firm and a registered investment adviser under the Investment Advisers Act of 1940. The firm is majority employee-owned with CEO Jeffrey Gundlach and President Philip Barach holding a combined controlling interest in the firm. DoubleLine's headquarters is in Los Angeles, CA. Its offices can be reached by telephone at (213) 633-8200 or by e-mail at [email protected]. DoubleLine® is a registered trademark of DoubleLine Capital LP.

Note: Bond funds are subject to interest rate and credit risk similar to individual bonds. As interest rates rise or credit quality suffers, an investor is susceptible to loss of principal. Additional techniques that the Fund may use, including high-yield bonds, foreign bonds, derivatives, asset-backed/mortgage-backed securities, calls, and emerging markets, are subject to additional risks.

Morningstar award criteria:  The Manager of the Decade award is not just about returns.  Morningstar considers the risks assumed to achieve those results and take into account the strength of the manager, strategy, and firm's stewardship. When selecting the Morningstar Fund Manager of the Year award winners, Morningstar looks for managers: Who have made a lot of money for a lot of investors over a long period of time, and who also had a good calendar year.  Who have blazed a trail with original research and who stick to their strategies through thick and thin.  Who are good stewards, putting fundholders' interests first rather than trying to extract every last penny from shareholders.

SmartMoney Power 30 criteria:  Each year the SmartMoney staff digs through their notes, a year's worth of clips and the far reaches of the Web, and interviews dozens of executives, analysts and investors. The result is a list of men and women to watch in the coming year, the people whose actions will signal or even cause changes in everything from the money supply and Medicare to the Nasdaq.

Fund Action award criteria:  The Fund Leader of the Year is awarded to an individual who has made a key impact on their firm or the industry as a whole, through an innovative concept, directive or product that reverberated throughout the market.

Past performance is no guarantee of future results.

Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. Please call 800 597-9704 for a prospectus which contains this and other information about the Fund. Read it carefully before you invest or send money. Aston Funds are distributed by BNY Mellon Distributors Inc.

SOURCE Aston Asset Management, LP

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