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Infrastructure Income Fund – Statistics

Portfolio Characteristics – As of June 30, 2019

Statistics

# of Issues 103
Ending Market Value $538,427,855
Duration 4.33
Weighted Average Life 5.72

Sector Breakdown

Cash 3.65%
Structured Products 43.72%
Corporate Bonds 34.51%
Project Bonds 18.12%
U.S. Treasury 0.00%
Total 100.00%

Figures shown represent the net assets invested in a particular asset class as a percentage of total net assets.

Portfolio Composition – As of June 30, 2019

Duration Breakdown

(Percent of Portfolio)
Less than 1 year 5.25%
1 to 3 years 35.22%
3 to 5 years 26.52%
5 to 7 years 26.01%
7 to 10 years 6.08%
10+ years 3.93%
Total 100.00%

Current Quality Credit Distribution*

Cash & Accrued 3.65%
AAA 0.85%
AA 2.08%
A 57.95%
BBB 35.47%
BB 0.0%
B and Below 0.0%
Not Rated 0.0%
Total 100.00%

Country Breakdown

(Percent of Portfolio)
Cash 3.65%
United States 75.75%
Peru 4.93%
Chile 4.92%
Australia 3.31%
Mexico 1.59%
Canada 1.24%
South Korea 1.60%
Israel 1.22%
India 0.68%
Panama 0.73%
United Arab Emirates 0.39%
Total 100.00%

Industry Breakdown

(Percent of Portfolio)
Cash 3.65%
Transportation 40.35%
Power 22.25%
Energy 9.10%
Renewables 10.60%
Telecommunications 12.21%
Water & Sewer 1.84%
Other 0.00%
Total 100.00%

*Credit Distribution is determined from the highest available credit rating from any Nationally Recognized Statistical Rating Agency (NRSRO”, generally S&P, Moody’s, or Fitch) and is subject to change. DoubleLine chooses to display credit ratings using S&P’s rating convention, although the rating itself might be sourced from another NRSRO. The firm evaluates a bond issuer’s financial strength, or its ability to pay a bond’s principal and interest in a timely fashion. The ratings apply to the credit worthiness of the issuers of the underlying securities and not to the fund itself. Ratings are expressed as letters ranging from ‘AAA’, which is the highest grade, to ‘D’, which is the lowest grade. In limited situations when the rating agency has not issued a formal rating, the rating agency will classify the security as unrated.

Sector Allocations 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 fifteen days after month-end by calling (877) DLine11. The source for the information in this report is DoubleLine Capital, which maintains its data on a trade date basis.

©2019 DoubleLine

Mutual fund investing involves risk; Principal loss is possible.  Investment in debt securities typically decrease when interest rates rise.  This risk is usually greater for longer-term debt securities.  Investments in lower-rated and non-rated securities present a great risk of loss to principal and interest than higher rated securities.  Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments.  Investments in foreign securities involve political, economic, and currency risks, greater volatility, and differences in accounting methods.  These risks are greater for investments in emerging markets.  The Infrastructure Income Fund may use certain types of investment derivatives.  Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous.  Investing in derivatives could lose more than the amount invested.  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.  The value of the Fund’s infrastructure investments may be entirely dependent upon the successful development, construction, maintenance, renovation, enhancement or operation of infrastructure-related projects.  Accordingly, the Fund has significant exposure to adverse economic, regulatory, political, legal, demographic, environmental, and other developments affecting the success of the infrastructure investments in which it directly or indirectly invests.  The Fund is non-diversified meaning it may concentrate its assets in fewer individual holdings than a diversified fund.

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory prospectus and summary prospectus (if available) contain this and other important information about the investment company and may be obtained by clicking here. In addition, a free hard-copy is available by calling 1 (877) 354-6311/1 (877) DLINE11. Please read the prospectuses carefully before investing.

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