Gundlach, Liberman to Launch DoubleLine Long Duration Total Return Bond Fund

The DoubleLine Long Duration Total Return Bond Fund Will Target a Duration of At Least 10 Years

The Fund Will Invest Primarily in Agency Mortgage-Backed Securities

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Dec 09, 2014, 12:00 ET

LOS ANGELES, Dec. 9, 2014 /PRNewswire/ --The DoubleLine Long Duration Total Return Bond Fund (I shares DBLDX; N shares DLLDX), an open-end mutual fund, will open Monday December 15 to investors.

Under normal circumstances, DoubleLine Capital ("DoubleLine"), adviser to the DoubleLine Funds, expects to construct an investment portfolio for the Fund with a dollar-denominated average effective duration of at least 10 years.¹ The Fund will invest primarily in Agency mortgage-backed securities. At times, DoubleLine could invest the Fund in other sectors of the bond market based on a variety of factors, including available market yields relative to durations in different sectors and prevailing convexities in the mortgage sector.²

Jeffrey Gundlach, Chief Executive Officer and Chief Investment Officer of DoubleLine Capital LP, and Vitaliy Liberman, a portfolio manager on DoubleLine's mortgage-backed securities team, are the portfolio managers of the DoubleLine Long Duration Total Return Bond Fund ("the Fund").

In managing the Fund, Mr. Gundlach and Mr. Liberman will be supported by DoubleLine's investment teams specializing in asset allocation and in different sectors of the fixed income universe, including global developed credit, emerging markets debt, Agency debentures, municipal bonds and Treasuries, as well as mortgage-backed securities.

A prerecorded webcast on the Fund, presented by Mr. Gundlach and Mr. Liberman, will be posted later this month on DoubleLine Funds.com. E-mailed questions regarding the Fund are welcome at [email protected].

DoubleLine intends to invest the DoubleLine Long Duration Total Return Bond Fund primarily in fixed income and other income-producing instruments rated investment grade and unrated securities considered by DoubleLine to be of comparable credit quality. The Fund may invest up to 20% of total assets in securities rated below investment grade and unrated securities DoubleLine believes to be of comparable credit quality. DoubleLine will normally limit its foreign currency exposure (from non-U.S. dollar-denominated securities or currencies) to no more than 30% of total assets. The Fund may invest without limit in U.S. dollar-denominated securities of foreign issuers. The Fund may invest up to 25% of its total assets in obligations of sovereign or corporate issuers domiciled in emerging market countries.

The prospectus for the DoubleLine Long Duration Total Return Bond Fund is available at the following online address:
http://doublelinefunds.com/pdf/DoubleLine_Funds_Stat_Pro_LDTR.pdf

Reminder: Jeffrey Gundlach's Last Webcast of the Year

Reminder: "This Time It's Different" Webcast

Jeffrey Gundlach will hold his last webcast of the year, titled "This Time It's Different," 4:15 pm Eastern/1:15 pm Pacific on Tuesday December 9. The webcast will cover Mr. Gundlach's market themes, the DoubleLine Total Return Bond Fund and the DoubleLine Core Fixed Income Fund. To register for the webcast, please go to online address: https://event.webcasts.com/starthere.jsp?ei=1026699

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 manage more than $60 billion in assets held in 1940 Act fund, separate account, hedge fund, variable annuity and UCITS vehicles. 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.

Twitter: @DLineCap

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.

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 investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Investments in lower rated and non-rated securities present a great risk of loss to principal and interest than higher rated securities. Investments in foreign securities, which involve political, economic, and currency risks, greater volatility, and differences in accounting methods. These risks are greater for investments in emerging markets. The fund may also invest in securities related to real estate, which may decline in value as a result of factors affecting the real estate industry. 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 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 a fund's ability to sell its shares.

Investment Grade - A level of credit rating for stocks regarded as carrying a minimal risk to investors. Ratings are based on corporate bond model. The higher the rating the more likely the bond will pay back par/100 cents on the dollar.

Below Investment Grade - A term indicating that a security is rated below investment grade. These securities are seen as having higher default risk or other adverse credit events, but typically pay higher yields than better quality bonds in order to make them attractive. They are less likely to pay back 100 cents on the dollar.

DoubleLine Funds are distributed by Quasar Distributors, LLC.

¹ Duration, a measure of the expected life of a fixed income instrument, is used to determine the sensitivity of a security's price to changes in interest rates. For example, the value of a portfolio of fixed income securities with an average duration of 10 years would be expected to decline by approximately 10% if interest rates rose by one percentage point. Effective duration is a measure of duration adjusted for the anticipated effect of interest rate changes on bond and mortgage prepayment rates. The effective duration of the Fund's investment portfolio may vary significantly over time.

² Convexity is a measure of the difference between a security's rising-rate duration and its falling-rate duration. A positively convex security will have more falling-rate duration than rising-rate duration. A negatively convex security will have more rising-rate duration than falling-rate duration.

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SOURCE DoubleLine