""DoubleLine Funds Trust"":http://www.doublelinefunds.com has launched an open-end mutual fund, ""DoubleLine Total Return Bond Fund"":http://www.doublelinefunds.com/pdf/Total_Return_Fact_Sheet.pdf, which will invest in mortgage-backed securities (MBS).[IMAGE]
According to the fund fact sheet, the fund ""seeks to exploit pricing dislocations within the mortgage subsectors."" The fund managers are targeting long-term investments primarily in agency, or GSE, mortgage securities that have an implied government guarantee, as well as non-agency prime and Alt-A pools.
DoubleLine says the MBS fund will be run by an experienced team of portfolio managers, traders, analysts, and information systems specialists that are devoted to the[COLUMN_BREAK]
mortgage sector. Their approach, according to the Los Angeles-based company, ""is to seek to maximize total return in the MBS market.""
""The fund launch will bring to investors what I believe is a unique opportunity,"" said Ron Redell, president of DoubleLine Funds. ""DoubleLine Funds represents a new mutual fund platform, devoted to creative, thoughtful investment insight and superior investor service, and led by a team of highly experienced investment professionals who have a long history of working together...[w]ith a wide range of eligible distributors.""
DoubleLine Funds Trust also announced the launch of a second open-end mutual fund, ""DoubleLine Emerging Markets Fixed Income Fund"":http://www.doublelinefunds.com/pdf/Emerging_Markets_Fact_Sheet.pdf.
In accordance with the fund strategy, investments will be made primarily in fixed income instruments issued or backed by companies, financial institutions, and governments in emerging market countries, deriving returns from income and capital appreciation. The emerging markets investable universe includes distressed debt, sovereign bonds, corporate bonds, local currency bonds, convertible bonds, and structured finance.
Both funds will be managed by fixed income asset manager ""DoubleLine Capital LP"":http://www.doubleline.com, investment adviser to DoubleLine Funds.