LOS ANGELES, Feb. 23, 2016 /PRNewswire/ -- Joseph Galligan and Vitaliy Liberman, portfolio managers on the Mortgage-Backed Securities team at DoubleLine Capital LP, will hold a webcast today on the DoubleLine Long Duration Total Return investment strategy.
The webcast will start at 4:15 pm Eastern/1:15 pm Pacific today (Tuesday February 23). To register for the webcast, please click here:
To obtain a pdf of the presentation slides after the webcast starts, please send an e-mail to firstname.lastname@example.org.
The investment objective of the DoubleLine Long Duration Total Return strategy ("the strategy") is twofold: to earn a competitive rate of return over the Barclays Long U.S. Government/Corporate Index and to accommodate the long duration needs of investors. For example, pension plans and insurers typically use long duration fixed income securities in liability driven investment (LDI) plans and for hedging against macroeconomic risks such as down phases in economic cycles, credit markets and equity markets.
Long duration portfolios historically have invested in a mix of Treasuries and investment grade corporate bonds. The DoubleLine Long Duration Total Return strategy invests in collateralized mortgage obligations (CMOs) of Government and Government-Agency mortgage-backed securities (MBS). In addition to the diversification benefit, adding this sector to a long duration investor's options has the potential to enhance returns. A manager possessing the necessary investment acumen can find attractive valuations in this sector of the bond market when short-term market fluctuations misprice securities relative to their realizable returns over the long term.
Due to the explicit U.S. government guarantee behind Ginnie Mae mortgage securities and the implied guarantee behind Agency mortgage securities such as Fannie Mae and Freddie Mac securitizations, the DoubleLine Long Duration Total Return strategy also can reduce the credit risk otherwise assumed in long duration portfolios predominantly invested in corporate bonds.
CMOs pool together and pay out cash flows from underlying mortgages in accordance with payment priority rules. Both interest and principal payments can be subject to different orderings. In the case of longer duration CMOs, principal payment is usually delayed until the future, thereby reducing prepayment uncertainty with respect to return of principal. Through active investment management, targeted return windows can be created in an effort to match investor needs, including for LDI plans, macro hedging and other objectives requiring long duration investments.
Members of the investment team managing the strategy include Jeffrey Gundlach, CEO and chief investment officer of DoubleLine; Philip Barach, president of the firm; portfolio managers Joseph Galligan, Vitaliy Liberman and Joel Damiani; trader Michael Lee.
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. As of the December 31, 2015 end of the fourth quarter, DoubleLine Capital and its related companies ("DoubleLine") managed $85 billion in assets across all vehicles, including open-end mutual fund, closed-end fund, exchange-traded fund, hedge fund, variable annuity, UCITS and separate account. 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.
All investments contain risk and may lose value. This material is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product.