Objective

Seeks high total return from current income and capital appreciation.

Philosophy and Process

The Emerging Markets investment philosophy at DoubleLine is anchored by four key principles:

  1. Emerging Markets debt is a secular improving credit story.
  2. Selection across regions, countries, sectors and issuers is fundamental to credit risk management.
  3. Avoiding potential problem credits and minimizing credit losses are as critical as selecting stable or improving credits.
  4. Total returns will be derived from current income and capital gains.

The Fund's investable universe includes sovereign bonds, corporate bonds, local currency bonds, distressed debt, convertible bonds, and structured finance.

The team's process emphasizes global and industry selection to generate attractive risk-adjusted returns from income and capital appreciation.

Value Oriented - Research Driven

DoubleLine Emerging Markets Fixed Income Fund Investment Process

Fund Facts

Daily NAV

SEC 30 Day Yield

Performance & Characteristics

Growth of $10k

Performance data quoted represents 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 the original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance current to the most recent month-end may be obtained by calling (213) 633-8200 or by visiting www.doubleline.com.

The performance information shown assumes the reinvestment of all dividends and distributions. Returns of less than one year are not annualized. While the fund is no-load, management fees and other expenses still apply. Index returns reflect no deduction for fees, expenses or taxes. Please refer to the prospectus for further details.

Portfolio Characteristics

Current Currency Exposure (%)

Duration Breakdown (%)

Credit Quality Breakdown (%)

Country Breakdown (%)

Industry Breakdown (%)

Top 10 Holdings (%)

Sector Breakdown (%)

INSIGHTS

PORTFOLIO MANAGERS

Portfolio Managers

  • Luz Padilla

    Director, International Fixed Income

    Luz Padilla

    Director, International Fixed Income

    Ms. Padilla joined DoubleLine in 2009 as the Director of the Emerging Markets Group and is the lead Portfolio Manager. In addition, she is a permanent member of the Fixed Income Asset Allocation Committee. Prior to DoubleLine, Ms. Padilla was a Managing Director at TCW. She began working at TCW in 1994, where she served in a number of roles including Credit Analyst, Director of Research, Co-Portfolio Manager, and lead Portfolio Manager. Ms. Padilla was involved in all aspects of building and managing TCW's Emerging Markets Fixed Income business including credit, securitization, trading and marketing. She holds a BA in Economics from Stanford University in Palo Alto, California and an MBA from the University of California at Berkeley as a fellow of the Robert A. Toigo Foundation.

  • Mark Christensen

    Portfolio Manager

    Mark Christensen

    Portfolio Manager

    Mr. Christensen joined DoubleLine in 2009 as an Emerging Markets Portfolio Manager and Co-Director of Corporate Research. He is a contributing member on the Fixed Income Asset Allocation committee. Prior to DoubleLine, Mr. Christensen was a Managing Director at TCW since 1991, where he had been involved in building and managing TCW’s Emerging Markets Fixed Income business, including Trading, Marketing, Credit Research, and Portfolio Management. He holds a BS in Business Management with an emphasis in International Finance from Brigham Young University.

  • Su Fei Koo

    Portfolio Manager

    Su Fei Koo

    Portfolio Manager

    Ms. Koo joined DoubleLine in 2009 as an Emerging Markets Portfolio Manager and Co-Director of Corporate Research. She is also a member of the Fixed Income Asset Allocation committee. Prior to DoubleLine, Ms. Koo was a Senior Vice President associated with TCW since 1998. In addition to credit analysis, she was involved in marketing and, beginning in 2006, performed increasing portfolio management duties. Previous to TCW, Ms. Koo was an Assistant Treasurer at Société Générale involved in Corporate Finance and prior to that, was an Assistant Vice President with Bank of America in the Financial Institutions Group. Ms. Koo holds a BS in Business Administration from the University of Houston and an MBA in Finance from the University of Southern California.

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contain this and other important information about the investment company and may be obtained by calling (877) 354-6311 / (877) DLINE11, or downloading from the fund document library on this website. Read them carefully before investing.

Mutual fund investing involves risk. Principal loss is possible.

Sector allocations and fund holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security. Portfolio holdings generally are made available 30 days after month-end by visiting www.doubleline.com. The source for the information in this report is DoubleLine Capital, which maintains its data on a trade date basis.

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.

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.

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.

DoubleLine Funds are distributed by Quasar Distributors, LLC.