DoubleLine Core Fixed Income Fund Tops $1 Billion in Assets
LOS ANGELES, Nov. 2, 2011 /PRNewswire/ -- The DoubleLine Core Fixed Income Fund (I shares DBLFX; N shares DLFNX) has reached $1 billion in total net assets, the DoubleLine Funds Trust and adviser DoubleLine Capital LP announced today. The open-end mutual fund was launched June 1, 2010.
The DoubleLine Core fund's reaching the $1 billion milestone follows a new record month of net mutual fund inflows at DoubleLine. Net inflows across all DoubleLine funds totaled $1.6 billion in the month of October 2011. DoubleLine Capital manages $19 billion in sector-specific and multi-sector strategies, offered via mutual funds, separate accounts and hedge funds.
Jeffrey Gundlach, Chief Executive Officer of DoubleLine Capital, is portfolio manager of the DoubleLine Core Fixed Income Fund. In addition to securities selection, active sector allocation forms a central strategy in DoubleLine's approach to risk management and return generation in the fund. Mr. Gundlach chairs the DoubleLine Fixed Income Asset Allocation Committee, which decides the fund's sector weightings. The committee also includes portfolio managers specialized in the eligible sectors of the bond market. The portfolio managers and their teams of traders and analysts handle security selection within their respective asset classes.
The Core fund's investable universe can include any fixed income security. The sector teams responsible for security selection for the fund focus on U.S. Government securities (Treasuries and Agency debentures), residential and commercial mortgage-backed securities, municipal bonds, global developed credit (including investment-grade and below-investment grade corporate securities and sovereign issues) and emerging markets debt (corporate and sovereign issues).
The I-share class of the DoubleLine Core fund (DBLFX) is the top-ranked fund for one-year total return for one-year total return in Morningstar's Intermediate Term Bond Fund category out of 326 funds as of October 31, 2011.(1)
As of October 31, 2011, the annualized total return figures for the DoubleLine Core Fixed Income Fund (I-share class) were 9.3% for the trailing one-year period and 12.6% for the Since Inception period (6/1/2010-10/31/2011). As of September 30, 2011, the annualized total return figures for the DoubleLine Core Fixed Income Fund (I-share class) were 9.9% for the trailing one-year period and 13.0% for the Since Inception period (6/1/2010-9/30/2011). The gross expense ratio for the Core Fixed Income Fund (I-share class) is 0.85%.
Performance data quoted presents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Current performance of the fund may be lower or higher than the performance quoted.
About DoubleLine Funds Trust
DoubleLine Funds Trust (the DoubleLine Funds) was formed as a Delaware statutory trust on January 11, 2010 and is a registered investment company. DoubleLine Capital LP acts as the investment adviser for the Trust. A prospectus for the Funds can be obtained by calling 1-877-DLINE11 or be downloaded from the Internet at www.doublelinefunds.com under "Documents."
About DoubleLine Capital LP
DoubleLine Capital LP (DoubleLine) 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 manages mutual funds, separate accounts and hedge funds. The firm's Los Angeles 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.
The investment objectives, risks, charges and expenses of the DoubleLine Funds must be considered carefully before investing. The prospectus contains this and other important information about the Funds, and it may be obtained by calling 1 (877) 354-6311/ 1 (877) DLINE11, or visiting www.doublelinefunds.com. Read it carefully before investing.
Mutual fund investing involves risk. Principal loss is possible.
Investments in debt securities typically decrease when interest rates rise.
This risk is usually greater for longer-term debt securities. Investments in Asset-Backed and Mortgage-Backed securities include additional risks that investor should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. Investments in lower rated and non-rated securities present a great risk of loss to principal and interest than higher rated securities.
Past Performance is no guarantee of future results.
DoubleLine Funds are distributed by Quasar Distributors Inc., LLC.
(1) Morningstar Rankings represent a fund's total-return rank relative to all funds that have the same Morningstar Category. The highest rank is 1 and the lowest is 100. The highest absolute rank is 1 and the lowest is based on the total number of funds ranked in the category. Rankings are based on Morningstar total return, which includes both income and capital gains or losses and is not adjusted for sales charges or redemption fees.
© 2011 Morningstar inc. All rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Media contact: Lewis Phelps at [email protected] and 310 890 7369
SOURCE DoubleLine Capital LP
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