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Multi-Asset Trend Fund

Investment Objective

The Fund’s investment objective is to seek total return (capital appreciation and current income) which exceeds the total return of its benchmark index over a full market cycle.

Investment Approach

The Fund will seek to use derivatives, or a combination of derivatives and direct investments, to provide a return, with respect to that portion of the Fund’s portfolio (before fees and expenses) that approximates the performance of the BNP Paribas Multi-Asset Trend Index (the “index”). The Fund will invest in a portfolio of debt securities to seek to provide additional long term total return.

Investment Philosophy

Maintain a core portfolio of debt instruments that focuses on global fixed income sector rotation while simultaneously obtaining exposure to a diverse multi asset class trend following strategy via the Index The Index seeks investment exposure to trends in price movements of a broad universe of assets across different markets, including global equities, sovereign bonds and other debt securities, interest rates, currencies and commodities.

Fund Facts

Retail and Institutional Class
No Load Mutual Fund

Retail N-share Inst. I-share
Ticker DLMOX DBMOX
Min Investment $2,000 $100,000
Min IRA Investment $500 $5,000
Gross Expense Ratio 1.05% 0.80%
Net Expense Ratio 0.99%1 0.74%1
Benchmark Credit Suisse Managed Futures
Liquid Total Return USD Index
Fund Inception Date 2/26/2021
  1. The Adviser has contractually agreed to waive fees and reimburse expenses to limit ordinary operating expenses to an amount not to exceed 0.65% for Class I share sand 0.90% for Class N shares. These expense limitations will apply until at least February 26, 2023, except that they may be terminated by the Board of Trustees at any time. Net expense ratios are applicable to investors.

Broadly Diversified Investment Universe: 58 Underlying Markets

Eligibility criteria:
•  Transparent and representative of a market
•  Operationa l effectiveness: utilize futures for leveraging and shorting
•  Large markets with significant daily liquidity
•  Cost efficiency

BNP Paribas Cross Asset Trend Index_Map_Blue

Underlyings

Investment Process

Investment Process Schema_MAT

 

1 Market fluctuations may preclude full $1 for $1 exposure between the swaps and the fixed income portfolio.
2 Investor receives 100% gross exposure to both the BNP Paribas Multi Trend Index and the DoubleLine Actively Managed Fixed Income Portfolio.

BNP Paribas Multi Asset Trend Index: The 3 Methodology Steps

3 Methodology Steps


Indexes Represented

TSX 60 – Toronto Stock Exchange 60

BTP 10Y – 10-Year BTP

AEX – Amsterdam Exchange Index

CAD 10Y – Ten Year Government of Canada Bond

CAC 40 – Cotation Assistée en Continu 40 DBR 2Y – Schatz
DAX – Deutsche Boerse AG DBR 5Y – Bobl
FTSE MIB – FTSE Milano Indice di Borsa DBR 10Y – Bund
SMI – Swiss Market Index DBR 30Y – Buxl
OMX – Stockholm 30 Index JGB 10Y – 10-Year Japanese Government Bond
ASX SPI 200 – S&P/ASX 200 OAT 10Y – 10-Year OAT
HSCEI – Hong Kong Stock Exchange Hang Seng China Enterprises Index UKT – Long – Long Gilt
HSI – Hong Kong Hang Seng Index UST 2Y  – 2-Year US Treasury Note
MSCI EM – MSCI Emerging Markets Index UST 5Y – 5-Year US Treasury Note
TOPIX – Tokyo Stock Price Index UST 10Y – 10-Year US Treasury Note
KOSPI – Korean Stock Exchange UST 30Y  – US Treasury Bond Futures
EUR 5Y IG – Markit Itraxx Europe Main Index Brent Crude Oil – Futures Contract for Brent Crude Oil
EUR 5Y HY – ITraxx Europe Crossover Index WTI Crude Oil – Futures Contract for West Texas Intermediate Crude Oil
US 5Y IG – Markit CDX North America Investment Grade Index Gas Oil – Futures Contract for Gas Oil
US 5Y HY – Markit CDX North America High Yield Index Heating Oil – Futures Contract for Heating Oil
AUD – Australian Dollar (AUD) Unleaded Gas – Futures Contract for Unleaded Gasoline
CAD – Canadian Dollar (CAD) Natural Gas – Futures Contract for Natural Gas
CHF – Swiss Franc (CHF) Aluminum – Futures Contract for London Metal Exchange Aluminum
EUR – European Euro (EUR) Copper – Futures Contract for U.S. High Grade Copper
GBP – British Pound (GBP) Lead – Futures Contract for London Metal Exchange Lead
JPY – Japanese Yen (JPY) Nickel – Futures Contract for London Metal Exchange Nickel
NZD – New Zealand Dollar (NZD) Zinc – Futures Contract for London Metal Exchange Zinc
AUD 3Y – 3-Year Australian Treasury Bond Gold – Futures Contract for Gold
AUD 10Y – 10-Year Australian Treasury Bond Silver – Futures Contract for Silver

It is not possible to invest directly in an index.

©2021 DoubleLine

Mutual fund investing involves risk Principal loss is possible. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer term debt 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. 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. Diversification does not assure a profit nor protect against loss in a declining market.

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. 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. 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.

Investing in emerging markets has more risk such as increased volatility, relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries and securities markets that are substantially smaller, less liquid and more volatile with less government oversight than more developed countries.

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. Diversification does not assure a profit, nor does it protect against a loss in a declining market.

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.

For our Funds that are no-load mutual funds, management fees and other expenses will apply. Please refer to the prospectus for further details.

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DoubleLine Alternatives LP is the investment adviser to the DoubleLine Strategic Commodity Fund and the DoubleLine Colony Real Estate and Income Fund.  DoubleLine Capital LP is the investment adviser to each of the other DoubleLine mutual funds and sub-adviser to the DoubleLine Colony Real Estate and Income Fund. DoubleLine Capital LP and DoubleLine Alternatives LP are investment advisers registered with the SEC under the Investment Advisers Act of 1940. The DoubleLine mutual funds are distributed by Quasar Distributors, LLC.  DoubleLine Capital LP is the investment adviser to the DoubleLine Closed-End Funds.  Quasar Distributors, LLC. provides filing administration for the DoubleLine Closed End Funds.

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

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