LOS ANGELES, June 21, 2016 /PRNewswire/ -- The DoubleLine Infrastructure Income Fund (the "Fund") opens today to investors in the open-end mutual fund's I shares (BILDX) and N shares (BILTX). DoubleLine launched the Fund with internal capital earlier this year.
DoubleLine Capital LP ("DoubleLine") is Adviser to the Fund. Andrew Hsu and Damien Contes are portfolio managers of the Fund.
The Fund's investment objective is to seek long-term total return while striving to generate current income. Under normal circumstances, DoubleLine Capital intends to invest at least 80% of the Fund's assets (plus borrowings for investment purposes) in infrastructure investments. Investments may be in or outside the United States, although DoubleLine intends to invest the Fund principally in U.S. dollar-denominated instruments.
Infrastructure investments include any assets or projects that support the operation, function, growth or development of a community or economy. The Fund's eligible investments can include fixed or floating-rate debt instruments, loans or other income-producing instruments issued:
- by companies or other issuers to finance (or re-finance) the ownership, development, construction, maintenance, renovation, enhancement, or operation of infrastructure assets;
- by companies or other issuers that invest in, own, lease or hold infrastructure assets; and
- by companies or other issuers that operate infrastructure assets or provide services, products or raw materials related to the development, construction, maintenance, renovation, enhancement or operation of infrastructure assets.
Assets to which the Fund may have exposure include transportation facilities (e.g., airports, subways, railroads, ports, toll roads), transportation equipment (e.g., shipping, aircraft, railcars, containers), electric utilities and power (e.g., power generation, transmission, distribution), energy (e.g., exploration and production, pipeline, storage, refining and distribution), communication networks and equipment, water and sewage treatment, social infrastructure (e.g., health-care facilities, government buildings and other public service facilities), metals, mining, and other resources and services related to infrastructure assets (e.g., cement, chemical companies).
Mr. Hsu has been a member of the investment team at DoubleLine Capital since its founding in December 2009. He focuses on structured investment products secured by hard assets. Before DoubleLine, Mr. Hsu was a member of the investment team at TCW focusing on structured products. Mr. Contes joined DoubleLine Capital in 2013 as a member of the firm's Emerging Markets Fixed Income team with a focus on the transportation and energy sectors. He previously was a member of the investment team at ICE Canyon, LLC.
Share Class Information
I shares (BILDX): Minimum initial investment is $100,000 for regular accounts and $5,000 for Individual Retirement Accounts (IRAs). There is no annual 12b-1 fee.
N shares (BILTX): Minimum initial investment is $2,000 for regular accounts and $500 for IRAs. There is an annual 12b-1 fee of 0.25%.
About DoubleLine Capital LP
DoubleLine Capital LP, a registered investment adviser under the Investment Advisers Act of 1940, acts as the investment adviser for the Fund. Co-founded by CEO Jeffrey Gundlach and President Philip Barach, DoubleLine Capital and its related companies ("DoubleLine") manages $100 billion in assets across all vehicles, including open-end mutual funds, closed-end funds, exchange-traded funds, hedge fund, variable annuities, UCITS and separate accounts. DoubleLine's offices can be reached by telephone at (213) 633-8200 or by e-mail at email@example.com. Media can reach DoubleLine by e-mail at firstname.lastname@example.org. DoubleLine® is a registered trademark of DoubleLine Capital LP.
The Fund's investment objectives, risk, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contains this and other important information about the Fund and may be obtained by calling 1(877)354-6311 / 1(877)DLINE11 or visiting www.doublelinefunds.com. Please read the prospectus carefully before investing.
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 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, environment 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 DoubleLine Funds are distributed by Quasar Distributors, LLC.
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