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Total Return Bond Fund – Latest Commentary

Commentary as of June 30, 2018 (Click on the link to view all fund commentaries)

2Q 2018 All Funds Commentary

Video

Steven Wald - Total Return Bond Fund (April 2018)


Bloomberg Barclays U.S. Aggregate Bond Index is an index that represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. These major sectors are subdivided into more specific indices that are calculated and reported on a regular basis. It is not possible to invest directly in an index.

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

Duration is a commonly used measure of the potential volatility of the price of a debt security, or the aggregate market value of a portfolio of debt securities, prior to maturity. Securities with a longer duration generally have more volatile prices than securities of comparable quality with a shorter duration.

Effective Duration calculates the expected price decline for a bond when interest rates rise by 1%. All else equal, the longer the maturity of a bond, the larger its effective duration. However, the value of the effective duration will always be lower than the maturity of the bond.

Opinions expressed are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

©2018 DoubleLine

Mutual fund investing involves risk; Principal loss is possible. Investments in debt securities typically decrease when interest rates rise. This risk is usually greater for longer-term debt 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 lower rated and non-rated securities present a great risk of loss to principal and interest than higher rated securities. The Total Return Bond Fund intends to invest more than 50% of its net assets in mortgage-backed securities of any maturity or type. The Fund therefore potentially is more likely to react to any volatility or changes in the mortgage-backed securities marketplace.

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.  DoubleLine Capital LP is the investment adviser to each of the other DoubleLine mutual funds.  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.

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