As fires continue to burn in the Los Angeles area, local fundsters and fund firms are among those affected by the ongoing disaster. 12,000 buildings have reportedly been destroyed by the firestorms so far, and that includes the houses of at least some fundsters, including at least one asset manager CEO.

Fundsters Have Been Displaced

Kathryn "Katie" Koch The TCW Group, Inc. President, CEO

A TCW spokesperson confirms that Katie Koch, president and CEO of the LA-based firm, lost her house in the fires.

"A number of our team members have been displaced and several have lost their homes completely, my family included," Koch writes in a memo she posted on LinkedIn last week.

The spokesperson adds that all of the team members "are safe and accounted for." However, arrangements are available for temporary hotel accommodation, assistance with childcare, and an employee assistance program for employees and their families.

The TCW spokesperson adds that the firm's downtown Los Angeles headquarters is "fully operational to serve [TCW's] clients." The spokesperson adds that, if it was necessary, the work could have shifted to the firm's teams in other parts of the U.S. or the world.

In the memo, Koch highlights "the outpouring of support from across the organization for ... affected colleagues." She also mentions a sign in the lobby of TCW's HQ.

"It reads, 'The only way forward is through,'" Koch writes. "I could not be more proud to be moving forward with all of you."

Some Fundsters Go Remote

A DoubleLine spokesperson writes that "DoubleLine's teams across all operations, including investment and client relations, are functioning normally."

"Some DoubleLine employees and their families have evacuated from their homes due to the Los Angeles fires. All have reported that they are safe," the DoubleLine spokesperson writes. "Our hopes and prayers go out to everyone affected by this emergency. This week, due to air-quality concerns for downtown Los Angeles, our people there are working remotely. Our other offices are open."

"American Century Investments, including Avantis Investors, remains open to serve clients. Our HR team and managers continue to check on our Los Angeles-area employees; they have been contacted and encouraged to work remotely if they do not feel comfortable coming into the office," writes an American Century spokesperson. 

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