Click on Benchmark and Return
Objectives for description
  •  Core (+100 bps)
    DoubleLine Core Fixed Income strategy strives to outperform the U.S. Barclays Capital Aggregate Index by 100 basis points per annum by gradually allocating across U.S. Government, U.S. Investment Grade and below Investment Grade Corporate Credit, Agency and Non-Agency Mortgage-Backed Securities including and Commercial MBS, International and Emerging Markets Fixed Income sectors.
  •  Core Plus (+200 bps)
    DoubleLine Core Fixed Income strategy strives to outperform the U.S. Barclays Capital Aggregate Index by 200 basis points per annum by opportunistically investing across U.S. Government, U.S. Investment Grade and below Investment Grade Corporate Credit, Agency and Non-Agency Mortgage-Backed Securities including Commercial MBS, International and Emerging Markets Fixed Income.
  •  Global Multi-Sector Fixed Income
    DoubleLine's Global Multi-Sector Fixed Income strategy strives to generate attractive risk-adjusted total returns over a full credit cycle and is not managed to a specific benchmark. This objective is attempted by investing in a diversified portfolio of global fixed income assets which may include U.S. government securities, U.S. corporate securities, mortgage-backed securities, high yield corporate securities, developed countries debt, emerging market debt and/or bank debt. The strategy has no constraints with respect to credit ratings and is not managed to a duration target. Duration will likely vary significantly over time. Accounts are typically unleveraged.
  •  Low Duration
    DoubleLine's Low Duration strategy strives to outperform the BofA/Merrill Lynch 1‐3 Year Treasury index. The objective is to maximize current income with a dollar‐weighted average effective duration of three years or less. The strategy mainly invests in investment grade fixed income securities.
  •  Opportunistic Income
    DoubleLine's Opportunistic Income strategy strives to significantly outperform the Barclay's Capital US Aggregate index. The strategy is considered to be DoubleLine's "Best Ideas Fixed Income" but is primarily invested in Mortgage-backed securities. There are no credit rating constraints. Duration is not managed to a duration target and will likely vary significantly over time. The strategy usually employs leverage but is dependent upon client guidelines.
  •  MBS (+80 bps)
    DoubleLine MBS strategy strives to outperform the U.S. Barclays Capital MBS Index by 80 basis points per annum with 70 basis points of tracking error per annum by investing across U.S. agency and non-agency Mortgage-Backed Securities and Commercial MBS subsectors.
  •  Total Return (+120 bps)
    DoubleLine Total Return MBS strategy strives to outperform the Barclays Capital U.S. MBS Index by 120 basis points per annum with 80 basis points of tracking error per annum. In addition, we strive to outperform the Barclays U.S. Aggregate index as well. The strategy invests slightly more aggressively across U.S. agency and non-agency Mortgage-Backed Securities and Commercial MBS subsectors. Some portfolio's guidelines may vary slightly to include small allocations to U.S. government securities, investment grade and below investment grade credit if the occasional opportunity arises to generate alpha.
  •  Strategic (+500 bps)
    DoubleLine's Strategic MBS strategy strives to outperform the Barclays Capital US Aggregate index by 500 basis points per annum over the long term by investing in mortgage-backed securities, either guaranteed by the U.S. Government or non-guaranteed mortgages. The strategy is considered to be DoubleLine's "Best Ideas Mortgages". There are no credit rating constraints. Duration is not managed to a duration target and will likely vary significantly over time.
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Strategy Matrix

Sector
Opportunities

 

Benchmark &
Return
Objectives
Risk
Management
Strategy
Flexibility
Core Fixed
Income
Sector Rotation
Security Selection
Government,
Investment Grade and
Below-Investment
Grade Credit,
MBS/ABS/CMBS
International
Emerging Markets
Barclays Aggregate Index
bulletCore (+100 bps)
bulletCore Plus (+200 bps)
bulletGlobal Multi-Sector Fixed Income
bulletLow Duration
bulletOpportunistic Income (+500 bps)
bulletDiversification across
fixed income sectors
bulletDuration range to fit
client risk/reward profile
bulletTactical allocation
strives to mitigate risk
bulletSeparate Account
bulletPooled Investment Vehicles
Emerging Markets
Fixed Income
bulletUS dollar denominated
bulletSecular improving credit
bulletContinued demand
bulletCorporates vs. Sovereigns
opportunities
Wider spreads
Improving credits skewed
toward investment grade
JP Morgan Emerging
Markets Global
Diversified Index
bullet+150bps
bulletDiversification across
regions, countries,
sectors and issuers
bulletRigorous research driven five
step bottom-up
selection process
bulletSeparate Account
bulletPooled Investment Vehicles
Global Developed
Credits
bulletLong term reliable
income
bulletSector exposure helps
minimize interest rate risk
Barclays US Credit Index
bullet+50bps
Security Selection
Investment Grade
Below Investment Grade
Credit
MBS/ABS/CMBS
bulletBottom-up disciplined
approach to credit analysis
bulletDiversification across industries and issuers
bulletRigorous selection
process
bulletDuration management
around index
bulletSeparate Account
Mortgage Backed
Securities
bulletMBS Sub-sector rotation
Ex. Duration plays: Agency
vs. Non-Agency
bulletMBS Security Selection
Wide array of diversified
product
bulletDepressionary prices and loss-adjusted yields
are attractive versus other
fixed income sectors
Barclays US Mortgage
Index
bulletMBS (+80 bps)
bulletTotal Return
(+120 bps)


Barclays Aggregate Index
bulletStrategic (+500 bps)
bullet"Stress" testing
analysis using
conservative
approach to delinquency
trends and severities
bulletDaily duration drift
monitoring
bulletRisk integration:
Agency and
Non-Agency
markets
cSeparate Account
bulletPooled Investment Vehicles
Multi—Asset
Growth
Aggressive Sector
Rotation
Asset Class Selection
Government
Credit
MBS/ABS/CMBS
International
Emerging Markets
Equities
Commodities
Currencies
Absolute Return Strategy bulletDiversification across
asset classes
bulletRisk Integration
bulletTactical allocation
exploiting secular
trends
bulletSeparate Account
bulletPooled Investment Vehicle
Shiller
Enhanced CAPE®
Seeks exposure to the "cheapest" sectors of the large cap equity markets
Maintains a fixed income collateral portfolio to generate
cash flow
CAPE® strives to outperform the S&P 500
Fixed Income portfolio strives to outperform cash
  bulletSeparate Account
bulletPooled Investment Vehicle
U.S. Equities Seeks capital appreciation and risk mitigation through active management. bulletRanges from Russell 2000 Growth to S&P 500   bulletSeparate Account