DoubleLine Launches Two New Fixed-Income Mutual Funds

DoubleLine Flexible Income Fund and DoubleLine Low Duration Emerging Markets Fixed Income Fund

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Apr 07, 2014, 09:00 ET

LOS ANGELES, April 7, 2014 /PRNewswire/ -- Two new mutual funds, the DoubleLine Flexible Income Fund (I shares DFLEX; N shares DLINX) and the DoubleLine Low Duration Emerging Markets Fixed Income Fund (I shares DBLLX; N shares DELNX), opened today to investors.

Jeffrey Gundlach, Chief Executive Officer and Chief Investment Officer of DoubleLine Capital LP, is the portfolio manager of the DoubleLine Flexible Income Fund. Luz Padilla, head of the DoubleLine Emerging Markets Fixed Income team, and Mark Christensen and Su Fei Koo are the portfolio managers of the DoubleLine Low Duration Emerging Markets Fixed Income Fund.

DoubleLine this week will host a webcast by Mr. Gundlach and Ms. Padilla to explain the investment strategies for the two funds and answer questions from webcast attendees. The webcast will start at 4:15 pm Eastern/1:15 pm Pacific Tuesday April 8, 2014. To register for the webcast, please visit the Events section of the DoubleLine Funds website homepage, www.doublelinefunds.com.

About the DoubleLine Flexible Income Fund

The DoubleLine Flexible Income Fund seeks current income and capital appreciation by top-down active asset allocation among market sectors in the fixed income universe and by bottom-up securities selections. Mr. Gundlach decides sector weightings based on, among other factors, sector fundamentals and relative valuations. Investment teams specialized in each sector are responsible for security selection within their respective sectors.

Mr. Gundlach actively manages the fund's duration based, among other factors, on his outlook for interest rates and market conditions. The fund has broad flexibility to use various investment strategies and to invest in a wide variety of fixed income instruments. The fund is not constrained by management against any index.

Eligible investment sectors for the DoubleLine Flexible Income Fund may include U.S. Government securities, corporate debt securities, mortgage- and asset-backed securities, foreign debt securities, including emerging market debt securities, loans and high yield debt securities.

About the DoubleLine Low Duration Emerging Markets Fixed Income Fund

Although the DoubleLine Low Duration Emerging Markets Fund may invest in securities of any maturity or duration, the investment team seeks to construct the portfolio with a dollar-weighted average effective duration of three years or less. Eligible fund holdings may include securities from the following sectors of the emerging markets debt universe: sovereign issues, quasi-sovereign issues and private (non-government) issues.

The DoubleLine Low Duration Emerging Markets Fixed Income Fund may invest without limit in investments denominated in any currency, but the investment team currently expects to invest substantially all of its assets in investments denominated in the U.S. dollar.

The investment team headed by Ms. Padilla, Mr. Christensen and Ms. Koo employs a value-seeking approach focused on bottom-up credit research integrating credit fundamentals, market valuations and overall portfolio strategy.

In allocating investments among various emerging market countries, the portfolio managers attempt to analyze such factors as public finances, monetary policy, external accounts, financial markets, foreign investment regulations, stability of exchange rate policy and labor conditions.

Definition of Duration

Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security's price to changes in interest rates. Effective duration is a measure of the Fund's portfolio duration adjusted for the anticipated effect of interest rate changes on pre-payment rates.

About DoubleLine Capital LP

DoubleLine Capital LP, a registered investment adviser under the Investment Advisers Act of 1940, acts as the investment adviser for the Fund. DoubleLine and its affiliates managed approximately $49 billion in assets held in closed- and open-end 1940 Act funds, separate accounts, hedge funds and UCITS as of March 31, 2014. DoubleLine's headquarters is in Los Angeles, CA. Its 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.

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.

The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus (if available) contain this and other important information about the investment company and may be obtained by calling (877)354-6311 / (877)DLINE11, or visiting www.doublelinefunds.com. Read carefully before investing.

DoubleLine Low Duration Emerging Market Risk Disclosure
Mutual fund investing involves risk. Principal loss is possible. The Low Duration Emerging Markets Fund may investment in debt securities which typically decrease in value when interest rates rise. The risk is usually greater for longer-term debt securities. Investments in lower rated and non-rated securities present a great risk of loss to principal and interest than higher rated securities. The Funds may invest in foreign securities which involve volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. The Funds may invest in derivatives. Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. ETF investments involve additional risks such as the market price trading at a discount to its net asset value, an active secondary trading market may not develop or be maintained or trading may be halted by the exchange in which they trade, which may impact the fund's ability to sell its shares. These risks are fully disclosed in the prospectus.

DoubleLine Flexible Income Fund Risk Disclosure
Mutual fund investing involves risk. Loss of Principal 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 floating rate securities include additional risks that investors should be aware of such as credit risk, interest rate risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities. Investments in Asset-Backed and Mortgage-Backed securities include additional risks that investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increase susceptibility to adverse economic developments. Investments in foreign securities may involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater for investments in emerging markets. In order to achieve its investment objectives, the Fund may use certain types of exchange traded funds or investment derivatives. Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when more advantageous. Investing in derivatives could lose more than the amount invested. ETF investments involve additional risks such as the market price trading at a discount to its net asset value, an active secondary trading market may not develop or be maintained or trading may be halted by the exchange in which they trade, which may impact the fund's ability to sell its shares. 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 more volatile than if leverage was not used. The Fund may make short sales of securities, which involves the risk that losses may exceed the original amount invested. Investments in real estate securities may involve greater risk and volatility including greater exposure to economic downturns and changes in real estate values, rents, property taxes, interest rates, tax and other laws. A REIT's share price may decline because of adverse developments affecting the real estate industry.

DoubleLine Funds are distributed by Quasar Distributors, LLC.

SOURCE DoubleLine