DoubleLine Portfolio Manager Andrew Hsu breaks down the latest performance and positioning of the Total Return Bond Fund (DBLTX). Mr. Hsu highlights the fund’s guidance by active management and disciplined focus on high-quality, well-protected credit assets. He discusses key shifts in CMBS, ABS and CLO allocations, strategic duration strategy and the fund’s defensive stance amid rising delinquencies. This update offers a view into how the fund is navigating 2025’s complex fixed-income landscape, with a strong emphasis on liquidity, credit enhancement and risk-adjusted returns.
To watch Mr. Gundlach's presentation of "Surreal," please visit DoubleLine Capital's YouTube channel or click here
Past performance does not guarantee future results.
Link to the Prospectus
Investing involves risk including the risk of principal loss.
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DoubleLine Funds are distributed by Quasar Distributors, LLC.
Mr. Hsu joined DoubleLine at its inception in 2009. He is a Portfolio Manager for the DoubleLine Total Return and ABS/Infrastructure Income strategies. Mr. Hsu is a permanent member of the Fixed Income Asset Allocation and Structured Products Committees. Prior to that, he was responsible for analysis and trading of structured products, where his focus included residential MBS and ABS transactions. Mr. Hsu’s responsibilities have also included structuring and negotiating terms on new-issue transactions and forming strategic partnerships with issuing entities in order to participate in key transactions. Prior to DoubleLine, he worked at TCW from 2002, where he focused on credit analysis for structured product securities and co-managed two structured product funds centered on debt and equity investments. During that time, Mr. Hsu was actively involved with portfolio management decisions and investment analysis, including reverse engineering complex CDO/CLO structures. He holds a BS in Finance from the University of Southern California and is a CFA® charterholder.
