Global Fixed Income
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Philosophy
The DoubleLine Global Fixed Income strategy seeks to generate strong risk-adjusted returns from the global bond markets. The strategy focuses on selecting securities with attractive valuations in countries with stable-to-improving structural outlooks and growth trajectories. DoubleLine believes that combining bond and currency investments across countries creates a well-diversified portfolio that can take advantage of different market, business and economic cycles, and will be generally less correlated to other traditional asset classes.
Process
The team’s investment process combines top-down global macro analysis with bottom-up fundamental sovereign research to find attractive bond and currency investments across countries. DoubleLine uses active portfolio construction and risk management to build a diversified fixed income portfolio.
1. Monthly Global Asset Allocation meetings chaired by Jeffrey Gundlach and attended by DoubleLine’s portfolio management team.
2. In-depth screening of regions and countries from the bottom up, including:
- Fundamentals
- Market Structure
- Liquidity Attributes
- Economic Review
3. Security Selection is based on macro outlook and country reviews. DoubleLine identifies the best sources of return within each country and identifies risks to monitor for each position.
4. Actively manage risk with daily monitoring for current economic data and local news, and apply a strict buy/sell discipline.
