The fund also expects to have “significant” exposure to foreign currencies.

Gundlach will manage the fund, which plans to invest in debt obligations issued by governments and governmental agencies around the world, according to the filing. The fund will invest based on the manager’s “view of changing global macroeconomic conditions such as, but not limited to, broad dollar trends, commodity cycles, cross border trade and portfolio flows, and relative growth and inflation differentials”, according to a prospectus. Those teams are led by Luz Padilla and Bonnie Baha, respectively.

The Federal Reserve will “blindside the market” and cause a rout in risk assets, starting with the junk-bond market, if it hikes interest rates Thursday afternoon, DoubleLine’s CEO Jeffrey Gundlach told CNBC.

DoubleLine executives didn’t immediately return calls seeking comment.

Global bond funds let US investors diversify their fixed-income exposure, and often have low correlations with domestic bond funds.

While some commentators think the market could post gains at liftoff since it would resolve some uncertainty and would show Fed confidence the US economy is strengthening, Gundlach said a rate hike would be “my definition of trouble coming”.