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Structured Products

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Competitive Advantage

  • Seasoned portfolio management team with structured products AUM over $100 billion1
  • Portfolio managers have an average 23 years of industry experience and 21 years working together through many market cycles
  • Time-tested investment process focusing on managing risk and convexity
  • Established track record that speaks to successful portfolio construction, optimization and risk management

Strategies

Senior team members have managed portfolios together for over two decades. Structured Products include: agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), collateralized loan obligations (CLOs) and asset-backed securities (ABS)

Strategies include: Government-guaranteed only portfolios including a liability-driven investment (LDI) alternative, intermediate-term offerings and an opportunistic strategy

Philosophy

DoubleLine believes structured products often deliver a yield advantage with lower effective duration than other fixed income assets, as well as, exhibiting a lower correlation to the S&P 500 relative to corporate credit alternatives

Process

DoubleLine’s structured products team has consistently implemented the same investment process for over twenty years.

Top-Down Macro economic and market sector analysis discussions are led by Jeffrey Gundlach. Portfolio managers, research team and traders participate in evaluating market trends and identifying sector opportunities.

Bottom-Up security selection using extensive scenario “stress testing” provides analysis for buy/sell decision.

Structured Products Committee meets weekly to assess relative value and potential risks across sectors

  • Market Outlook: Incorporates macro research of DoubleLine’s Fixed Income Asset Allocation (FIAA) and Global Asset Allocation (GAA) Committees
  • Portfolio Positioning: Strategy and portfolio evaluation, allocation and duration management decisions
  • Sub-sector Implementation: Fundamental research, relative value and security selection

Top Down PM Construct

 

Structured Products Committee

 

FIAA Committee Members

1. As of 6/30/19

The views and forecasts expressed in any materials on this website are as of the date indicated, are subject to change without notice, may not come to pass and do not represent a recommendation or offer of any particular security, strategy, or investment. DoubleLine has no obligation to provide revised assessments in the event of changed circumstances. There can be no assurance that the strategies described will achieve their objectives and goals.

Please note that by using this website and/or sending DoubleLine any information via this website, you acknowledge that any personal information you provide to us will be subject to our Privacy Policy, which has been designed to comply with applicable laws in the various jurisdictions in which DoubleLine does business.  If you have reached out to us on an unsolicited basis from outside the United States, local data privacy regulations may not apply to the information that you provide.

DoubleLine®, the DoubleLine logo, the DoubleLine Funds logo and The Sherman Show logo are all registered trademarks of DoubleLine Capital LP.

©2019 DoubleLine

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DoubleLine

333 S. Grand Ave.
18th Floor
Los Angeles
CA 90071

213.633.8200

The views and forecasts expressed in any materials on this website are as of the date indicated, are subject to change without notice, may not come to pass and do not represent a recommendation or offer of any particular security, strategy, or investment. DoubleLine has no obligation to provide revised assessments in the event of changed circumstances. There can be no assurance that the strategies described will achieve their objectives and goals.

Please note that by using this website and/or sending DoubleLine any information via this website, you acknowledge that any personal information you provide to us will be subject to our Privacy Policy, which has been designed to comply with applicable laws in the various jurisdictions in which DoubleLine does business.  If you have reached out to us on an unsolicited basis from outside the United States, local data privacy regulations may not apply to the information that you provide.

DoubleLine®, the DoubleLine logo, the DoubleLine Funds logo and The Sherman Show logo are all registered trademarks of DoubleLine Capital LP.

©2019 DoubleLine

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