LOS ANGELES,
Jan. 3, 2022
/PRNewswire/ -- The DoubleLine Real Estate and Income Fund ("the
Fund"), an open-end mutual fund within the DoubleLine Funds Trust,
on Dec. 17, 2021 reached the
three-year anniversary of its inception date. The Fund is
distributed 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
DigitalBridge 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/214935_Statutory_WEB.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 and corporate
securities as well as the firm's Fixed Income Asset Allocation
Committee), Mr. Gundlach and Mr. Sherman actively manage the fixed
income portfolio.
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
DigitalBridge 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 Nov. 30, 2021, the Index comprised 59
constituents selected from a selection universe of 219
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.
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.
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.
DigitalBridge Group, Inc.
The DigitalBridge Fundamental US Real Estate Index (the "Index")
has been licensed by Barclays for use by DoubleLine Alternatives
LP. DigitalBridge is a registered trademark of DigitalBridge
Operating Company, LLC or its affiliates and has
been sub-licensed for use for certain purposes by
DoubleLine Alternatives LP. DoubleLine Real Estate and Income
Fund (the "Fund") is not sponsored, endorsed, sold, or promoted by
DigitalBridge Operating Company, LLC or any of its
affiliates. Neither DigitalBridge Operating Company, 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. DigitalBridge Operating Company, 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 DigitalBridge Operating
Company, LLC and its affiliates through Barclays and/or its
affiliates to DoubleLine Alternatives LP. The Index is not
determined, composed, or calculated by DigitalBridge Operating
Company, LLC. Neither DigitalBridge Operating Company, 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. DigitalBridge Operating Company, 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. DigitalBridge Operating Company, 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 DigitalBridge Operating Company, LLC or its
affiliates to buy, sell, or hold such security, nor is it
considered to be investment advice.
NEITHER DigitalBridge OPERATING COMPANY, 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. DigitalBridge OPERATING COMPANY, 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
DigitalBridge 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
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:https://www.prnewswire.com/news-releases/doubleline-real-estate-and-income-fund-reaches-three-year-anniversary-301452237.html
SOURCE DoubleLine