LOS ANGELES, June 20, 2013 /PRNewswire/ -- DoubleLine will hold a webcast 1:15 pm Pacific/4:15 pm Eastern on Tuesday June 25 to discuss the DoubleLine Floating Rate Fund (the "Fund") ahead of the opening of the Fund to the public on Monday July 1.
To register for the "DoubleLine Floating Rate Fund Launch" webcast, go to www.doublelinefunds.com.
The Fund is an open-end mutual fund that seeks to deliver a high level of income by investing in floating rate bank loans and other floating rate instruments. Launched on February 1, 2013 to DoubleLine clients and affiliated persons, the Fund will be opened to the public on July 1. The Fund will be offered in two no-load share classes: I shares DBFRX; N shares DLFRX.
Bank loans are corporate loans that have been structured and administered by a commercial or investment bank. Such loans are sold (or syndicated) to other banks and institutional investors, including open-end and closed-end mutual funds and collateralized loan obligations (CLOs). Bank loans typically pay interest based on a spread over the London Inter Bank Offered Rate (LIBOR). The DoubleLine Floating Rate Fund generally invests in senior secured bank loans.
Jeffrey Gundlach, Chief Executive Officer and Chief Investment Officer of DoubleLine, will discuss the importance of bank loans, also known as leveraged loans, as an asset class.
Portfolio managers Bonnie Baha, who heads Global Developed Credit at DoubleLine, and Robert Cohen will discuss the sector in further detail. Then they will discuss the Fund's investment approach, their process for credit research and selection, and the portfolio composition of the Fund. A question-and-answer session will follow the prepared presentation.
Share Class Information
DBFRX (I shares): Minimum initial investment is $100,000 for regular accounts and $5,000 for Individual Retirement Accounts (IRAs). There is no annual 12b-1 fee.
DLFRX (N shares): 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. Its offices can be reached by telephone at (213) 633-8200 or by e-mail at firstname.lastname@example.org. Media can reach DoubleLine by e-mail at email@example.com. DoubleLine® is a registered trademark of DoubleLine Capital LP.
Collateralized Loan Obligations (CLOs) = A form of securization where payments from multiple middle sized and large business loans are pooled together and passed on to different classed of owners in various tranches.
London Inter Bank Offered Rate (LIBOR) = British Bankers Association Fixing for US Dollar. The fixing is conducted each day at 11 am (London time). The rate is an average derived from the quotations provided by the banks determined by the British Bankers' Association.
The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The 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.
Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in floating rate securities include additional risks that investors should be aware of such as credit risk, interest rate risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Investments in lower‐rated and non‐rated securities present a greater 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 may involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater for investments in emerging markets. In order to achieve its investment objectives, the Fund may use certain types of exchange traded funds or investment derivatives. Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments. 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 more advantageous. Investing in derivatives could lose more than the amount invested. ETF investments involve additional risks such as the market price trading at a discount to its net asset value, an active secondary trading market may not develop or be maintained or trading may be halted by the exchange in which they trade, which may impact the fund's ability to sell its shares.
While the Fund is no-load, management and other expenses still apply. Please refer to the prospectus for further details.
Investment strategies may not achieve the desired results due to implementation lag, other timing factors, portfolio management decision-making, economic or market conditions or other unanticipated factors. The views and forecasts expressed in this material are as of the date indicated, are subject to change without notice, may not come to pass and do not represent a recommendation or offer of any particular security, strategy, or investment.
DoubleLine has no obligation to provide revised assessments in the event of changed circumstances. While we have gathered this information from sources believed to be reliable, DoubleLine cannot guarantee the accuracy of the information provided. Securities discussed are not recommendations and are presented as examples of issue selection or portfolio management processes. They have been picked for comparison or illustration purposes only. No security presented within is either offered for sale or purchase. DoubleLine reserves the right to change its investment perspective and outlook without notice as market conditions dictate or as additional information becomes available.
The DoubleLine Funds are distributed by Quasar Distributors, LLC.
© 2013 DoubleLine Capital LP