DoubleLine Ultra Short Bond Fund Opens Today

LOS ANGELES, June 30, 2016 /PRNewswire/ -- The DoubleLine Ultra Short Bond Fund (the "Fund") opens today to investors in the open-end mutual fund's I shares (DBULX) and N shares (DLUSX). The Fund's investment objective is to seek to provide a level of current income consistent with limited price volatility.

DoubleLine Capital LP ("DoubleLine") is Adviser to the Fund. Bonnie Baha, director of DoubleLine's Global Developed Credit team, and Jeffrey Lee are portfolio managers of the Fund.

DoubleLine will normally seek to construct an investment portfolio for the Fund with an average effective duration of one year or less. A measure of the expected life of a fixed income instrument, duration is used to determine the sensitivity of a security's price to changes in interest rates.

The Fund invests principally in investment grade, U.S. dollar-denominated debt instruments such as bank obligations and commercial paper (including asset-backed commercial paper) and repurchase agreements.

The Fund may also invest in certificates of deposit, time deposits, debentures and discount notes issued by agencies of the U.S. Government, pre-refunded bonds, including pre-refunded municipal bonds, corporate debt obligations, mortgage-backed securities of any maturity or type that are issued by, guaranteed by, or secured by collateral that is guaranteed by the United States Government, its agencies, instrumentalities or sponsored corporations, other asset-backed securities of any maturity or type, including those issued by private issuers and not subject to any government guarantee or credit support, dollar-denominated foreign securities (corporate and government), inflation-indexed bonds, income-producing securitized products, preferred securities, and other instruments bearing fixed or variable interest rates of any maturity.

The Fund is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share. Accordingly, the Fund is not subject to the credit quality, liquidity, diversification or other limitations imposed on money market funds by Rule 2a-7 under the Investment Company Act of 1940, as amended (the "1940 Act").

As director of the Global Developed Credit team, Ms. Baha manages DoubleLine's investments in corporate and sovereign securities issued within developed market economies. Before DoubleLine, Ms. Baha was a managing director and portfolio manager overseeing the corporate bond investments at TCW. Previously, she worked for Deloitte & Touche, where she was a manager and specialized in the valuation of publicly traded and privately held companies in a variety of industries. Prior to that, she was employed as a senior analyst with Standard Research Consultants, a former division of Standard & Poor's Corporation. Prior to her graduate studies, she worked at Kidder, Peabody & Co. where she was responsible for the regional distribution of new issues and secondary offerings of corporate debt and equity securities. Ms. Baha received her BA in Political Science from the University of California at Irvine and her MBA from the University of Southern California. She is a CFA charterholder and a Chartered Investment Counselor. In 2016, Ms. Baha was recognized as one of the "Top Women in Asset Management" by Money Management Executive. She writes a periodic column on fixed income investing for Forbes magazine.

Mr. Lee, who joined DoubleLine in 2012, is a portfolio manager and corporate credit analyst on the firm's Global Developed Credit team. Prior to joining DoubleLine, he was at TCW for 17 years, including five years as a corporate credit analyst and five years as a money market trader. He also held roles as an economic analyst and fund accountant. Mr. Lee holds a BS in Finance from California State Polytechnic University, Pomona.

Share Class Information

I shares (DBULX): 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 (DLUSX): Minimum initial investment is $2,000 for regular accounts and $500 for IRAs. There is an annual 12b-1 fee of 0.25%.

Definitions
Duration - A measure of the sensitivity of the price of a fixed income investment to a change in interest rates, expressed as a number of years.
Investment Grade - A level of credit rating for stocks regarded as carrying a minimal risk to investors. Ratings are based on corporate bond model.  The higher the rating the more likely the bond will pay back par/100 cents on the dollar.

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 protected]. Media can reach DoubleLine by e-mail at [email protected]. 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.

Credit distribution is determined from the highest available credit rating from any Nationally Recognized Statistical Rating Agency ("NRSRO", generally S&P, Moody's and Fitch). DoubleLine chooses to display credit ratings using S&P's rating convention, although the rating itself might be sourced from another NRSRO.

The DoubleLine Funds are distributed by Quasar Distributors, LLC.

SOURCE DoubleLine

Related Links

http://www.doubleline.com