LOS ANGELES, Dec. 17, 2018 /PRNewswire/ -- The DoubleLine
Colony Real Estate and Income Fund ("the Fund"), an open-end mutual
fund within the DoubleLine Funds Trust, today opened to
shareholders via two share classes: I shares (DBRIX) and N shares
(DLREX).
The Fund seeks total return (capital appreciation and current
income) in excess of its benchmark, the Dow Jones U.S. Select REIT
Index, over a full market cycle.
The Fund invests principally in an actively managed portfolio of
short-to-intermediate term fixed income securities while also
investing in derivative instruments to provide exposure to the
Colony Capital Fundamental US Real Estate Index ("the Index"), a
rules-based (smart-beta) index which invests in the common stocks
of real estate investment trusts (REITs). Thus investing in the
Fund provides exposure to a DoubleLine managed fixed-income
portfolio and the Index.
For the Fund prospectus, please visit this web page:
https://doublelinefunds.com/wp-content/uploads/607294_CRE_Statutory_WEB_REVISED_2.pd_.pdf
Jeffrey Gundlach, chief executive
officer and chief investment officer of DoubleLine Capital LP, and
Jeffrey Sherman, deputy chief
investment officer of the firm and president of DoubleLine
Alternatives LP, serve as portfolio managers of the Fund. With the
contributions of DoubleLine's fixed income investment teams
(including mortgage-backed securities, Treasuries, corporate
securities and international debt as well as the firm's Fixed
Income Asset Allocation Committee), Mr. Gundlach and Mr. Sherman
actively manage the fixed income portfolio.
The Colony Capital Fundamental US Real Estate Index is based on
an investment strategy developed by Colony Capital, Inc. ("Colony";
NYSE: CLNY), a leading global investment management firm
headquartered in Los Angeles. The
Index implements fundamental real estate investing principles drawn
from Colony's 27 years of managing real estate investments for
institutional investors—across private and public markets, up and
down the capital stack.
The Index is rebalanced and reconstituted quarterly by applying
a systematic methodology to the universe of REITs traded on the New
York Stock Exchange, Nasdaq Stock Market and NYSE American which
meet the Index's minimum market capitalization ($1 billion) and average daily trading value
criteria.
The Index is designed to mitigate risk, as assessed by the
Index's methodology, by focusing on characteristics that Colony
views to be reliable markers of risk and screening out REITs that
exhibit these characteristics. Under its methodology, the Index
selects at least 25 constituents with each rebalancing or
reconstitution; there is no maximum number of Index constituents.
The Index excludes mortgage REITs. As of December 14, 2018, the Index comprised 60
constituents selected from a selection universe of 182
REITs.
DoubleLine Alternatives, a related entity of DoubleLine Capital,
is adviser to the Fund. DoubleLine Capital is sub-adviser.
Barclays Bank PLC owns the intellectual property and licensing
rights related to the Index. Barclays Index Administration, a
distinct function within the investment bank of Barclays Bank PLC,
performs the role of index sponsor and administers the Index.
Terms and Definitions
Market capitalization is the market price of an
entire company, calculated by multiplying the number of shares
outstanding of its common stock by the price per share.
Capital stack covers the total capital invested in a
commercial real estate project or property, including in ascending
order of seniority: common equity, preferred equity, mezzanine debt
and senior debt.
Beta investing or passive beta investing is
traditionally understood to mean investing systematically in a
market by weighting exposures to its constituents by their
respective market capitalizations (for example, the Standard &
Poor's 500 Index) or by their price weightings (for example, the
Dow Jones Industrial Average).
Smart beta investing is defined by DoubleLine and other
market participants as a systematic investing methodology which
deviates from weighting by market capitalization or
price.
About DoubleLine
DoubleLine Alternatives and DoubleLine Capital are investment
advisers registered under the Investment Advisers Act of 1940. As
of the September 30, 2018 end of the
third quarter, DoubleLine Capital and its related entities,
including DoubleLine Alternatives ("DoubleLine"), managed
approximately $123 billion in assets
across all vehicles, including open-end mutual funds, collective
investment trusts, closed-end funds, exchange-traded funds, hedge
funds, variable annuities, UCITS and separate accounts.
DoubleLine's offices can be reached by telephone at (213) 633-8200
or by e-mail at info@doubleline.com. Media can reach DoubleLine by
e-mail at media@doubleline.com. DoubleLine® is a registered
trademark of DoubleLine Capital LP.
Disclosures and Disclaimers:
Dow Jones U.S. Select REIT Index - The Index tracks
the performance of publicly traded REITs and REIT-like securities
and is designed to serve as a proxy for direct real estate
investment, in part by excluding companies whose performance may be
driven by factors other than the value of real estate.
It is not possible to invest directly in an index.
Colony Capital, Inc.
The Colony Capital Fundamental US Real Estate Index (the
"Index") has been licensed by Barclays for use by DoubleLine
Alternatives LP. Colony Capital is a registered trademark of Colony
Capital QIS, LLC or its affiliates and has been sub-licensed for
use for certain purposes by DoubleLine Alternatives LP. DoubleLine
Colony Real Estate and Income Fund (the "Fund") is not sponsored,
endorsed, sold, or promoted by Colony Capital QIS, LLC or any of
its affiliates. Neither Colony Capital QIS, LLC nor any of its
affiliates make any representation or warranty, express or implied,
to the owners of the Fund or any member of the public regarding the
advisability of investing in securities generally or in the Fund
particularly or the ability of the Index to track market
performance. Colony Capital QIS, LLC's and its affiliates' only
relationship to DoubleLine Alternatives LP with respect to the
Index is through the sublicensing of certain rules incorporated in
the Index and certain trademarks, service marks, and/or trade names
owned by Colony Capital QIS, LLC and its affiliates through
Barclays and/or its affiliates to DoubleLine Alternatives LP. The
Index is not determined, composed, or calculated by Colony Capital
QIS, LLC. Neither Colony Capital QIS, LLC nor its affiliates are
responsible for and have not participated in the determination of
the prices or amount of shares of the Fund or the timing of the
issuance or sale of shares of the Fund or in the determination or
calculation of the equation by which shares of the Fund are to be
converted into cash, surrendered, or redeemed, as the case may be.
Colony Capital QIS, LLC and its affiliates have no obligation or
liability in connection with the administration, marketing, or
trading of the Fund. There is no assurance that investment products
based on the Index shall accurately track index performance or
provide positive investment returns. Colony Capital QIS, LLC and
its affiliates are not investment advisors with respect to
investors in the Fund. Inclusion of a security within an index is
not a recommendation by Colony Capital QIS, LLC or its affiliates
to buy, sell, or hold such security, nor is it considered to be
investment advice.
NEITHER COLONY CAPITAL QIS, LLC NOR ITS AFFILIATES GUARANTEE THE
ADEQUACY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE INDEX,
ANY DATA RELATED THERETO, OR ANY COMMUNICATIONS, INCLUDING BUT NOT
LIMITED TO, ORAL, WRITTEN, OR ELECTRONIC COMMUNICATIONS WITH
RESPECT THERETO AND LICENSOR AND ITS AFFILIATES SHALL NOT BE
SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR
DELAYS THEREIN. COLONY CAPITAL QIS, LLC AND ITS AFFILIATES MAKE NO
EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL
WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR
USE, OR AS TO RESULTS TO BE OBTAINED BY DOUBLELINE ALTERNATIVES LP,
INVESTORS IN THE FUND, OR ANY OTHER PERSON OR ENTITY FROM THE USE
OF THE INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT
LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL
LICENSOR OR ITS AFFILIATES BE LIABLE, WHETHER IN CONTRACT, TORT,
STRICT LIABILITY, OR OTHERWISE, FOR ANY INDIRECT, SPECIAL,
INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OR FOR LOSS OF
PROFITS, TRADING LOSSES, LOST TIME, OR GOODWILL, EVEN IF THEY HAVE
BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
Barclays Bank PLC
©Barclays Bank PLC, its wholly-owned subsidiary ©Barclays
Capital Inc. or an affiliate (collectively "Barclays") owns the
intellectual property and licensing rights in and to the Colony
Capital Fundamental US Real Estate Index (the "Index") and either
entity may act as licensor of the Index. All rights reserved.
Neither Barclays nor the Index Sponsor, as defined below, make any
representation or warranty, express or implied, to DoubleLine
Colony Real Estate and Income Fund (the "Fund") or any member of
the public regarding the advisability of investing in transactions
generally or other instruments or related derivatives or in the
Index particularly or the ability of the Barclays indices,
including without limitation, the Index, to track the performance
of any market or underlying assets or data. Neither Barclays nor
the Index Sponsor has any obligation to take the needs of the Fund
into consideration in determining, composing or calculating the
Index.
Barclays' indices are administered, calculated and published by
the Index Sponsor. The Index Sponsor role is performed by Barclays
Index Administration ("BINDA"), a distinct function within the
Investment Bank of Barclays Bank PLC. As the administrator of the
Barclays family of indices, BINDA operates independently from
Barclays Investment Bank's sales, trading, structuring and banking
departments. Notwithstanding the foregoing, potential conflicts of
interest may exist where: (i) Barclays acts in multiple capacities
with respect to a particular Barclays index, including but not
limited to functioning as index sponsor, index administrator,
calculation agent, licensing agent, and/or publisher; (ii) sales,
trading or structuring desks in Barclays Investment Bank launch
products linked to the performance of a Barclays index, which are
typically hedged by Barclays' trading desks. In hedging an index, a
trading desk may purchase or sell constituents of that index. These
purchases or sales may affect the prices of the index constituents
which could in turn affect the level of that index; and (iii)
Barclays may use price contributions from trading desks in Barclays
Investment Bank as a pricing source for a Barclays index. Barclays
has in place policies and governance procedures (including
separation of reporting lines) that are designed to avoid or
otherwise appropriately manage such conflicts of interest and
ensure the independence of BINDA and the integrity of Barclays
indices. Where permitted and subject to appropriate restrictions,
BINDA personnel regularly interact with trading and structuring
desk personnel in Barclays Investment Bank regarding current market
conditions and prices although decisions made by BINDA are
independent and not influenced by trading and structuring desk
personnel. Additional information about Barclays indices together
with copies of the BINDA IOSCO Compliance Statement and Control
Framework are available at:
https://index.barcap.com/Home/BINDA.
The Index Sponsor is under no obligation to continue the
calculation, publication and dissemination of the Index or the
level of the Index. While the Index Sponsor currently employs the
methodology ascribed to the Index (and application of such
methodology shall be conclusive and binding), no assurance can be
given that market, regulatory, juridical, financial, fiscal or
other circumstances (including, but not limited to, any changes to
or any suspension or termination of or any other events affecting
any constituent within the Index) will not arise that would, in the
view of the Index Sponsor, necessitate an adjustment, modification
or change of such methodology. In certain circumstances, the Index
Sponsor may suspend or terminate the Index.
BARCLAYS AND THE INDEX SPONSOR DO NOT GUARANTEE, AND SHALL HAVE
NO LIABILITY TO THE PURCHASERS OR TRADERS, AS THE CASE MAY BE, OF
THE FUND OR TO THIRD PARTIES FOR, THE QUALITY, ACCURACY AND/OR
COMPLETENESS OF THE BARCLAYS INDICES, OR ANY DATA INCLUDED THEREIN,
OR FOR INTERRUPTIONS IN THE DELIVERY OF THE BARCLAYS INDICES.
BARCLAYS AND THE INDEX SPONSOR MAKE NO EXPRESS OR IMPLIED
WARRANTIES, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH
RESPECT TO THE BARCLAYS INDICES, INCLUDING WITHOUT LIMITATION, THE
INDEX, OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE
FOREGOING, IN NO EVENT SHALL BARCLAYS OR THE INDEX SPONSOR HAVE ANY
LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL
DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE
POSSIBILITY OF SUCH DAMAGES SAVE TO THE EXTENT THAT SUCH EXCLUSION
OF LIABILITY IS PROHIBITED BY LAW.
DoubleLine
The Fund's investment objectives, risks, charges and expenses
must be considered carefully before investing. The statutory and
summary prospectus contains this and other important information
about the fund and may be obtained by calling 1 (877) 354-6311 / 1
(877) DLINE11 or visiting www.doublelinefunds.com. Please read the
prospectus carefully before investing.
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 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 such as credit risk,
prepayment risk, possible illiquidity and default, as well as
increased susceptibility to adverse economic developments.
The Fund may use certain types of 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 risk such as liquidity,
interest rate, market, credit, management and the risk that a
position could not be closed when most advantageous. Investing in
derivatives could lose more than the amount invested. The Fund may
also invest in securities related to real estate, which may decline
in value as a result of factors affecting the real estate industry.
Investments in foreign securities include the risk that the Fund's
investments will be affected by political, regulatory, and economic
risks not present in domestic investments.
DoubleLine Alternatives and/or DoubleLine Capital act as
investment adviser to the DoubleLine Funds, which are distributed
by Quasar Distributors, LLC.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/doubleline-launches-doubleline-colony-real-estate-and-income-fund-300767198.html
SOURCE DoubleLine