Chicago-based Aston Asset Management is partnering with investment house DoubleLine Capital to offer a new bond fund under the Aston Funds brand, called the Aston/DoubleLine Opportunistic Bond Fund.

The vehicle is an open-ended fund, due to launch in early July this year. It seeks to maximize current income and total return. The fund's lead portfolio manager is Jeffrey Gundlach, chief executive and chief investment officer of DoubleLine.

Aston will act as the investment adviser to the fund, while DoubleLine will act as sub-adviser and will be responsible for the day-to-day management of the fund.

DoubleLine is headquartered in Los Angeles. Aston, meanwhile, oversees a total of $9.2 billion of client assets.