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Floating Rate Fund

Investment Objective

The Fund’s objective is to seek a high level of current income by investing primarily in floating rate loans and other floating rate investments.

Philosophy

DoubleLine’s portfolio management team believes preservation of capital stands as the prerequisite to potential maximization of total return. Satisfaction of credit and valuation criteria comes before incremental yield of a prospective security.

Fund Facts

Retail and Institutional Class
No Load Mutual Fund

Retail N-share Inst. I-share
Ticker DLFRX DBFRX
Min Investment $2,000 $100,000
Min IRA Investment $500 $5,000
Gross Expense Ratio 0.93% 0.68%
Net Expense Ratio* 0.96% 0.71%
Benchmark S&P/LSTA Leverage Loan Index
Fund Inception Date 2/1/2013

*The Advisor has contractually agreed to waive a portion of fees and reimburse expenses through July 31, 2016. The Gross Expense Ratio for the Floating Rate Fund is lower than its Net Expense Ratio because the Advisor recouped 0.03% in fees it had waived or expensed and had reimbursed in a prior period pursuant to an expense limitation agreement with the Fund.

Investment Description

The investment seeks to maximize total return. The Fund normally will invest at least 80% of its net assets in floating rate loans and other floating rate investments. “Floating rate investments” include, without limitation, floating rate debt securities; inflation-indexed securities; certain mortgage- and asset-backed securities, collateralized loan obligations, collateralized debt obligations, and collateralized mortgage obligations.

The Fund’s investments in derivatives and other synthetic instruments that provide exposure comparable, in the judgment of the Advisor, to floating rate investments will be counted toward satisfaction of this 80% policy as well. The Fund may invest in securities or instruments of any credit quality. The Fund expects that many or all of the Fund’s investments will be rated below investment grade or unrated but of comparable credit quality. Floating rate and other investments rated below investment grade, or unrated securities that are determined by the Advisor to be of comparable quality, are high yield, high risk securities, commonly known as junk bonds. Such investments entail high risk and have speculative characteristics. The Fund may invest in securities of stressed, distressed, and defaulted issuers (including issuers involved in bankruptcy proceedings, reorganizations, financial restructurings, or otherwise experiencing financial hardship).

©2017 DoubleLine

Mutual fund investing involves risk; Principal loss is possible. 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 increase 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 ex-change in which they trade, which may impact the fund’s ability to sell its shares. 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 fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory prospectus and summary prospectus (if available) contain this and other important information about the investment company and may be obtained by clicking here. In addition, a free hard-copy is available by calling 1 (877) 354-6311/1 (877) DLINE11. Please read the prospectuses carefully before investing.

For our Funds that are no-load mutual funds, management fees and other expenses will apply. Please refer to the prospectus for further details.

The DoubleLine Funds are offered only to United States residents, and information on this website is intended only for such persons.  Nothing on this website should be considered a solicitation to buy or an offer to sell shares of any DoubleLine Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

DoubleLine Alternatives LP is the investment advisor to the DoubleLine Strategic Commodity Fund.  DoubleLine Capital LP is the investment advisor to each of the other DoubleLine mutual funds.  The DoubleLine mutual funds are distributed by Quasar Distributors, LLC.  DoubleLine Capital LP is the investment advisor to the DoubleLine Closed-End Funds.  Quasar Distributors, LLC. provides filing administration for the DoubleLine Closed End Funds.

DoubleLine® is a registered trademark of DoubleLine Capital LP.

DoubleLine

333 S. Grand Ave.
18th Floor
Los Angeles
CA 90071

213.633.8200

 

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