February 16, 2011

DoubleLine Opens Growth Fund to Load, No-Load Share Classes

Multi-Asset Growth Fund launched Dec. 20; webcast planned for March 15

DoubleLine Funds on Feb. 15 opened its recently launched Multi-Asset Growth Fund to mutual fund investors via an A load share class (DMLAX) and an I no-load share class (DMLIX).

The open-ended fund, which invests in a diversified mix of fixed-income securities, stocks, real estate securities and commodities, was launched on Dec. 20. Initially seeded with internal funding, the Multi-Asset Growth Fund is DoubleLine first fund to offer a share class with a sales charge, or load.

DoubleLine Capital has assets under management including commitments of about $8 billion, including nearly $5 billion invested in the DoubleLine mutual funds.

The Los Angeles-based firm’s first mutual funds were launched on April 6, 2010 with the DoubleLine Total Return Bond Fund (I shares DBLTX; N shares DLTNX) and the DoubleLine Emerging Markets Fixed Income Fund (I shares DBLEX; N shares DLENX). The DoubleLine Core Fixed Income Fund (I shares DBLFX; N shares DLFNX) was launched on June 1, 2010.

“The DoubleLine Multi-Asset Growth Fund is an open-ended mutual fund that seeks long-term capital appreciation by active allocation of its assets among asset classes, market sectors and specific investments,” according to a DoubleLine news release. “DoubleLine Capital allocates the fund’s assets in response to changing market, economic and political factors and events that the fund’s portfolio managers believe may affect the value of the fund’s investments.”

Jeffrey Gundlach, CEO of DoubleLine Capital LP and advisor to the funds, will hold a webcast at 1:15 pm PT/ 4:15 pm ET on March 15 to discuss the new fund. Registration details will be posted Monday February 28 on the home page of the website, http://www.doublelinefunds.com/index.html.

The other portfolio managers of the fund are Bonnie Baha, Global Developed Credit team; Samuel Garza, Asset Allocation; Luz Padilla, Emerging Markets Debt; and Jeffrey Sherman, Commodities.

DoubleLine Multi-Asset Growth Fund details:

  • Two share classes: A shares, I shares
  • Ticker Symbols: DMLAX, DMLIX
  • Maximum Sales Charges: 4.25%, None
  • Minimum Investment: $2,000, $100,000
  • Minimum IRA Investment: $500 $5,000
  • Net Expense Ratio: 1.45%, 1.20%

Read about DoubleLine’s preliminary plans for the fund launch last July at AdvisorOne.com.

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