Investment Objective

Seeks high total investment return by providing a high level of current income and the potential for capital appreciation.

Philosophy

The Fund will seek to achieve its investment objective by selecting investments for their potential to provide high current income, growth of capital, or both. The Fund may invest in debt securities and income-producing investments of any kind, including mortgage-backed securities (residential and commercial), asset-backed securities, U.S. Government securities, corporate debt, international sovereign debt, and short-term investments.

Process

Fixed income asset allocation decisions are made by DoubleLine's Fixed Income Asset Allocation (FIAA) Committee, led by Jeffrey Gundlach. Security selection is made by experienced portfolio management teams for each asset class.

More information on DoubleLine's Fixed Income Asset Allocation Committee can be found here.

Fund Facts

Inception Date: January 26, 2012
Ticker DBL
NAV Symbol XDBLX
Benchmark Bloomberg US Aggregate Bond Index

Daily NAV

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.

Fund Characteristics

Total Return Market Price is Annualized

Credit Quality Breakdown (%)

Duration Breakdown (%)

Weighed Average Life Breakdown (%)

Sector Breakdown (%)

Top 10 Holdings (%)

INSIGHTS

PORTFOLIO MANAGERS

Portfolio Managers

  • Jeffrey Gundlach

    Chief Executive Officer & Chief Investment Officer

    Jeffrey Gundlach

    Chief Executive Officer & Chief Investment Officer

    Mr. Gundlach is CEO of DoubleLine.  In 2011, he appeared on the cover of Barron's as "The New Bond King."  In 2013, Institutional Investor named him "Money Manager of the Year."  In 2012, 2015 and 2016, he was named one of "The Fifty Most Influential" in Bloomberg Markets.  In 2017, he was inducted into the FIASI Fixed Income Hall of Fame.  Mr. Gundlach is a summa cum laude graduate of Dartmouth College, with degrees in Mathematics and Philosophy.

  • Ken Shinoda, CFA

    Portfolio Manager

    Ken Shinoda, CFA

    Portfolio Manager

    Mr. Shinoda joined DoubleLine at inception in 2009. He is Chairman of the Structured Products Committee and oversees the non-Agency RMBS team specializing in investing in non-Agency mortgage-backed securities, residential whole loans and other mortgage-related opportunities. Mr. Shinoda is co-Portfolio Manager on the Total Return, Opportunistic Income, Income, Opportunistic MBS and Strategic MBS strategies. He is also lead Portfolio Manager overseeing the Mortgage Opportunities private funds. Mr. Shinoda is also a permanent member of the Fixed Income Asset Allocation Committee, as well as, participating in the Global Asset Allocation Committee. In addition, he hosts DoubleLine’s “Channel 11 News” (Twitter @DLineChannel11, dline11@doubleline.com), a webcast series that provides market insights and commentary with peers and industry experts. Prior to DoubleLine, Mr. Shinoda was Vice President at TCW where he worked in portfolio management and trading. He holds a B.S. in Business Administration from the University of Southern California and is a CFA® charterholder.

  • Andrew Hsu, CFA

    Portfolio Manager

    Andrew Hsu, CFA

    Portfolio Manager

    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.

Documents

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. You can obtain the fund’s most recent periodic reports and certain other regulatory filings by calling 877-DLINE11 (877-354-6311), or by downloading from the fund document library on this website. You should read these reports and other filings carefully before investing.

Investments involve risk. Principal loss is possible. Shares of closed-end investment companies frequently trade at a discount to their net asset value, which may increase investors’ risk of loss. This risk may be greater for investors expecting to sell their shares in a relatively short period after the completion of the public offering. There are risks associated with an investment in the fund.

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.

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 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.

Investment strategies may not achieve the desired results due to implementation lag, other timing factors, portfolio management decision-making, economic or market conditions or other unanticipated factors. In addition, the fund may invest in other asset classes and investments such as, among others, REITs, credit default swaps, short sales, derivatives, and smaller companies which include additional risk.

Foreside Fund Services, LLC provides marketing review services for DoubleLine Capital, LP.

To access the Funds Section 16 Information, click here

To access the Funds Form 8-A information, click here