Income Fund
Investment Objective
The Fund’s investment objective seeks current income and total return principally in income producing securities.
Investment Approach
The Fund invests mainly in structured product securities which include mortgage backed securities, asset backed securities and CLOs that provide a high level of current income, capital appreciation or both, while providing diversification from corporate credit and diversifying risks within the portfolio.
Investment Philosophy
DoubleLine believes the most reliable way to enhance returns is to exploit inefficiencies within the subsectors of the bond market while maintaining active risk management constraints.
Investment Process
Robust investment approach employing a qualitative and quantitative approach:
o Qualitative: Thorough analysis of market trends and in-depth research contribute to affirming sector and subsector opportunities and assessing risk exposure.
o Quantitative: Bottom-up security selection based on experience with proprietary methodology and “stress testing” scenarios across a range of interest rate and credit spread movements.
Fund Facts
Retail and Institutional Class
No Load Mutual Fund
| Retail N-share | Inst. I-share | |
| Ticker | DBLNX | DBLIX |
| Min Investment | $2,000 | $100,000 |
| Min IRA Investment | $500 | $5,000 |
| Gross Expense Ratio | 1.05% | 0.80% |
| Net Expense Ratio1 | 0.91% | 0.66% |
| Benchmark | Bloomberg Barclays U.S. Aggregate Index | |
| Fund Inception Date | 9/3/2019 | |
- The Adviser has contractually agreed to waive fees and reimburse expenses through September 2, 2021.
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 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. 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.
Diversification does not assure a profit, nor does it protect against a loss in a declining market.
