TAMPA,
Fla., Sep. 3, 2024 /PRNewswire/ -- DoubleLine
ETF Adviser LP, adviser to the DoubleLine Mortgage ETF (NYSE Arca
exchange symbol: DMBS), has reduced the fund's management fee to 39
basis points (bps) of the fund's average daily net asset value,
down from a previous 49 bps. A basis point equals one hundredth of
1 percent or 0.01%.
DoubleLine Mortgage ETF (or "Mortgage ETF") is an
exchange-traded fund actively invested by DoubleLine primarily in
residential mortgage-backed securities. The fund's objective is to
seek total return (capital appreciation and current income) which
exceeds the total return of its benchmark, the Bloomberg US
Mortgage-Backed Securities Index, over a full market cycle.
"With the Mortgage ETF's growth in net assets since the fund's
launch in 2023," DoubleLine President Ron
Redell said, "the team at DoubleLine is pleased to pass on
part of the resulting operating efficiencies to fund
investors."
The Mortgage ETF invests primarily in high-quality residential
mortgage-backed securities (RMBS), allocating between
government-backed Agency mortgage-backed securities (MBS) and
non-Agency MBS. Interest rate, credit and prepayment risks are
managed with the goal of delivering enhanced risk-adjusted returns
through changing interest-rate and economic environments.
Portfolio managers of the Mortgage ETF are Jeffrey Gundlach, founder, Chief Executive
Officer and Chief Investment Officer of DoubleLine; Vitaliy Liberman, Portfolio Manager overseeing
DoubleLine's Agency MBS team; Ken
Shinoda, Chairman of the firm's Structured Products
Committee and Portfolio Manager overseeing the non-Agency RMBS
team.
Although under normal circumstances the Mortgage ETF invests
primarily in residential mortgage securities deemed to be rated
investment grade (i.e., securities rated Baa3/BBB- or higher) at
the time of purchase, the Mortgage ETF may also invest in certain
other fixed income securities, including derivatives, U.S.
government securities, and other cash and cash equivalents.
DoubleLine has broad discretion to manage the Mortgage ETF's
portfolio duration; however, the investment team expects normally
to construct an investment portfolio with a U.S. dollar-weighted
average effective duration within two years (plus or minus) of the
benchmark. Duration is a measure of the expected life of a fixed
income instrument that is used to determine the sensitivity of a
security's price to changes in interest rates. Effective duration
is a measure of a duration adjusted for the anticipated effect of
interest rate changes on bond and mortgage prepayment rates as
determined by DoubleLine.
For more information on the Mortgage ETF, please visit this
page: https://doubleline.com/funds/mortgage-etf/ For information on
all the DoubleLine ETFs, please visit the following web page:
https://doubleline.com/doubleline-exchange-traded-funds/#products
About DoubleLine
DoubleLine ETF Adviser LP, adviser to the DoubleLine Mortgage
ETF, is an investment adviser registered under the Investment
Advisers Act of 1940. DoubleLine's offices can be reached by
telephone at (813) 791-7333 or by email at ETFinfo@doubleline.com.
Media can reach DoubleLine by email at media@doubleline.com.
DoubleLine® is a registered trademark of DoubleLine
Capital LP.
The Fund's investment objectives, risks, charges and expenses
must be considered carefully before investing. The statutory and
summary prospectus contain this and other important information
about the investment company and may be obtained by calling (855)
937-0772 or visiting www.doubleline.com. Read them carefully before
investing.
Risk Disclosure
Investing involves risk. Principal loss is possible. Equities
may decline in value due to both real and perceived general market,
economic and industry conditions.
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 exchange in which they trade, which
may impact a fund's ability to sell its shares.
Investments in debt securities change in value because of
changes in interest rates. The value of an instrument with a longer
duration (whether positive or negative) will be more sensitive to
changes in interest rates than a similar instrument with a shorter
duration. There is the risk that the Fund may be unable to sell a
portfolio investment at a desirable time or at the value the Fund
has placed on the investment. Illiquidity may be the result of, for
example, low trading volume, lack of a market maker, or contractual
or legal restrictions that limit or prevent the Fund from selling
securities or closing derivative positions. There is risk that
borrowers may default on their mortgage obligations or the
guarantees underlying the mortgage-backed securities will default
or otherwise fail and that, during periods of falling interest
rates, mortgage-backed securities will be called or prepaid, which
may result in the Fund having to reinvest proceeds in other
investments at a lower interest rate. Derivatives involve special
risks including correlation, counterparty, liquidity, operational,
accounting and tax risks. These risks, in certain cases, may be
greater than the risks presented by more traditional
investments.
The Fund is a "non-diversified" investment company and therefore
may invest a greater percentage of its assets in the securities of
a single issuer or a limited number of issuers than funds that are
"diversified." Accordingly, the Fund is more susceptible to risks
associated with a single economic political or regulatory
occurrence than a diversified fund might be.
DoubleLine ETFs are distributed by Foreside Fund Distributors,
LLC. DoubleLine® is a registered trademark of DoubleLine
Capital LP.
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SOURCE DoubleLine