DoubleLine

Core Plus Fixed Income
Actively allocated across global fixed income sectors maintaining minimum exposures to governments, investment grade credit and mortgages
Objective: Maximum current income and total return over a full market cycle
Duration range: 2 to 8 years
Targeted alpha: 75 to 125 basis points over the Barclays U.S. Aggregate index

Flexible Income
Actively allocated across global fixed income sectors with no minimum exposures to any one sector
Objective: Provide better risk adjusted returns over most market environments
Duration range: -3 and 10 years
Targeted alpha: LIBOR + 250 basis points

Long Duration Total Return
Active allocation across global fixed income sectors focusing mainly on: U.S. Government, U.S. Corporates & Mortgages. An enhanced Liability Driven Investing (LDI) strategy that potentially adds alpha via mispricings in mortgages
Objective: Twofold: to strive to earn a competitive rate of return over the Barclays Long U.S. Corporate Index and to accommodate LDI and/or Long Duration needs of potential investors
Duration range: Long duration approximately (10+ years)
Targeted alpha: 100 basis points over the Barclays Long U.S. Government/Corporate index

Low Duration
Actively allocated across global fixed income sectors
Objective: Seeks to maximize current income
Duration range: Less than 3 years
Targeted alpha: 25 to 75 basis points over the BofA/Merrill Lynch 1-3 year US Treasury index

Opportunistic Core Plus Fixed Income
Aggressively diversified across global fixed income sectors with no minimum exposures
Objective: Maximum current income and total return over a full market cycle through opportunistic sector allocation
Duration range: 2 to 8 years
Targeted alpha: 100 to 200 basis points over the Barclays U.S. Aggregate index

Opportunistic Income Jeffrey Gundlach's "absolute return ideas" fixed income. Allocates opportunistically across global fixed income sectors and has historically been concentrated in mortgages
Objective: Maximize total return
Duration range: None
Targeted alpha: 500 basis points over the Barclays U.S. Aggregate index

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Fixed Income Asset Allocation

For performance information on any of DoubleLine's Asset Allocation strategies: Core Plus Fixed Income, Flexible Income, Long Duration Total Return, Low Duration, Opportunistic Core Plus or Opportunistic Income click here

Philosophy
Active management of asset class exposure blended with bottom-up security selection forms a cornerstone of the expected return.

Top Down Sector Allocations
Fixed Income Asset allocation decisions are committee based, led by Jeffrey Gundlach during the monthly meetings of DoubleLine's Fixed Income Asset Allocation Committee which includes senior portfolio managers from each asset class.

DoubleLine raises or lowers asset weightings based on its analysis of sector fundamentals and relative valuation.

Bottom Up Security Selection
DoubleLine employs specialized teams for each asset class incorporating their deep experience and research. The portfolio managers select individual securities within their respective sectors.

Fixed Income Asset Allocation Committee

Fixed Income Overview