DoubleLine Income Fund Launches I and N Share Classes

Fund Seeks Current Income from a Yield in Excess of the Benchmark and Total Return

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Sep 03, 2019, 09:00 ET

LOS ANGELES, Sept. 3, 2019 /PRNewswire/ -- The DoubleLine Income Fund ("the Fund"), an open-end mutual fund of the DoubleLine Funds Trust, today opened to shareholders via two share classes: I shares (DBLIX) and N shares (DBLNX). DoubleLine Capital LP is adviser to the Fund.

The Fund's investment objective is to maximize total return through investment principally in income-producing securities. The Fund seeks to achieve this objective by investing in a portfolio of income-producing instruments selected for their potential to provide a high level of current income, capital appreciation or both. The Fund is benchmarked against the Bloomberg Barclays US Aggregate Bond Index.

The Fund constructs a portfolio principally of structured product securities, also referred to as fixed income securitizations, with attractive yield and duration characteristics relative to those of corporate debt instruments. The structured product securities targeted by the fund will include residential and commercial mortgage-backed securities, other asset-backed securities and collateralized loan obligations (CLOs).

In normal conditions, the Fund portfolio will comprise lower credit-quality and unrated debt instruments. The Fund may invest in securities of any credit quality and may invest without limit in securities rated below investment grade (securities rated Ba1 or below by Moody's and BB+ or below by S&P and Fitch Ratings, Inc.) and unrated securities.

The co-portfolio managers of the Fund are Morris Chen, Andrew Hsu and Ken Shinoda. They have served on the investment team of DoubleLine Capital since the firm's founding on December 14, 2009. Mr. Chen heads the Commercial Mortgage-Backed Securities and Commercial Real Estate group at DoubleLine. Mr. Hsu heads the firm's Global Infrastructure and Asset-Backed Securities group. Mr. Shinoda heads the firm's Residential Mortgage-Backed Securities group.

The three co-portfolio managers of the Fund also serve as permanent members of the Fixed Income Asset Allocation and Structured Products committees at DoubleLine.

"Structured product credits often offer attractive yields relative to their interest-rate risk, and provide a diversification away from corporate credit," noted Ron Redell, president of the DoubleLine Funds. "Those traits can be advantageous in most environments, but perhaps even more so today given the extended rally in corporate bonds. The investment team at DoubleLine has a long history of enhancing the potential of this large, diverse sector of the fixed income universe through active management."

About DoubleLine

DoubleLine Capital is an investment adviser registered under the Investment Advisers Act of 1940. As of the June 30, 2019 end of the second quarter, DoubleLine Capital and its related entities ("DoubleLine) managed approximately $140 billion in assets across all vehicles, including open-end mutual funds, collective investment trusts, closed-end funds, exchange-traded funds, hedge funds, variable annuities, UCITS and separate accounts. DoubleLine's offices can be reached by telephone at (213) 633-8200 or by e-mail at [email protected]. Media can reach DoubleLine by e-mail at [email protected]. DoubleLine^® is a registered trademark of DoubleLine Capital LP.

Disclosures and Disclaimers:
The Fund's investment objectives, risk, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contains this and other important information about the Fund and may be obtained by calling (877)354-6311/(877)DLINE11 or visiting www.doublelinefunds.com. Please read the prospectus carefully before investing.

Mutual Fund investing involves risk; Principal loss is possible. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities. Investments in ABS and MBS include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The Fund may use leverage which may cause the effect of an increase or decrease in the value of the portfolio securities to be magnified and the Fund to be more volatile than if leverage was not used. Derivatives involve special risks including correlation, counterparty, liquidity, operational, accounting and tax risks. These risks, in certain cases, may be greater than the risks presented by more traditional investments. 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.

Diversification does not assure a profit, nor does it protect against a loss in a declining market.

For no-load mutual funds, management fees and other expenses will apply. Please refer to the prospectus for further details.

DoubleLine Alternatives and/or DoubleLine Capital act as investment adviser to the DoubleLine Funds, which are distributed by Quasar Distributors, LLC.

Credit Quality – Determined from the highest available credit rating from any Nationally Recognized Statistical Rating Agency (NRSRO", generally S&P, Moody's, or Fitch). DoubleLine chooses to display credit ratings using S&P's rating convention, although the rating itself might be sourced from another NRSRO. The firm evaluates a bond issuer's financial strength, or its ability to pay a bond's principal and interest in a timely fashion. Ratings are expressed as letters ranging from 'AAA', which is the highest grade, to 'D', which is the lowest grade. In limited situations when the rating agency has not issued a formal rating, the rating agency will classify the security as nonrated.

SOURCE DoubleLine