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DoubleLine Multi-Sector Income ETF (DMX) launched on NYSE Arca, focusing on corporate and securitized credit investments. The actively managed ETF is led by Portfolio Managers Robert Cohen and Ken Shinoda, supported by 71 investment professionals. The Fund aims to deliver income and capital appreciation through bottom-up security selection and top-down sector allocation, investing in various fixed income sectors including corporate debt, bank loans, RMBS, CMBS, ABS, and CLOs. The Fund can invest in securities of any credit quality, including below investment grade, and may concentrate significantly in single sectors. This launch marks DoubleLine's seventh ETF offering.
DoubleLine Income Solutions Fund (NYSE: DSL) has declared a monthly distribution of $0.11 per share for December 2024. The distribution schedule includes: ex-dividend and record date on December 18, 2024, with payment set for December 31, 2024. The Fund notes that distributions may include ordinary income, long-term capital gains, or return of capital, with final tax characteristics to be determined at year-end. Shareholders will receive Form 1099-DIV in early 2025 for tax reporting purposes.
DoubleLine Income Solutions Fund (NYSE: DSL) has announced its November 2024 distribution of $0.11 per share. The distribution schedule includes: ex-dividend and record date on November 13, 2024, with payment set for November 29, 2024. The Fund notes that distributions may include ordinary income, long-term capital gains, or return of capital, with final tax characteristics to be determined at year-end. Shareholders will receive Form 1099-DIV in early 2025 for tax reporting purposes.
DoubleLine's ABS team has published a research paper highlighting investment opportunities in data center Asset-Backed Securities (ABS). The analysis reveals high-yielding prospects with modest risk in this sector, which supports critical technologies from AI to social media. The data center ABS market is experiencing significant growth, with expected issuance of $8 billion in 2024 and potential market size of $50 billion by 2027, up from $25 billion in 2024. The research suggests that subordinate and mezzanine tranches currently offer the most attractive risk-adjusted returns, benefiting from industry dynamics and a stable client base.
DoubleLine Income Solutions Fund (NYSE: DSL) has declared a distribution of $0.11 per share for October 2024. The key dates are:
- Declaration: Tuesday, Oct. 1, 2024
- Ex-Dividend: Wednesday, Oct. 16, 2024
- Record: Wednesday, Oct. 16, 2024
- Payment: Thursday, Oct. 31, 2024
The press release notes that this announcement is not for tax reporting purposes. The distribution may include ordinary income, long-term capital gains, or return of capital. Shareholders will receive a Form 1099-DIV in early 2025 detailing the tax characteristics of the distributions for the prior calendar year.
DoubleLine Portfolio Manager Andrew Hsu and ABS Trader Michael Fine have released a research paper titled 'The State of the U.S. Consumer Through the Lens of Asset-Backed Securities'. The study combines macroeconomic data with high-frequency asset-backed securities (ABS) data to analyze consumer behavior.
Key findings include:
- U.S. consumers show persistent resilience, likely due to a strong residential mortgage market, robust labor market, and pandemic-era savings.
- Potential risks exist, including depletion of savings, wage stagnation, rising unemployment, and high consumer prices.
- DoubleLine finds attractive relative value in select ABS consumer market areas.
- Prepayments, defaults, and loss severities remain within reasonable historical average moving bands.
DoubleLine ETF Adviser LP has reduced the management fee for the DoubleLine Mortgage ETF (NYSE Arca: DMBS) from 49 to 39 basis points of the fund's average daily net asset value. The ETF, launched in 2023, primarily invests in residential mortgage-backed securities (RMBS), aiming to outperform the Bloomberg US Mortgage-Backed Securities Index. The fee reduction comes as a result of the fund's growth in net assets, allowing DoubleLine to pass on operating efficiencies to investors.
The Mortgage ETF is actively managed by a team led by Jeffrey Gundlach, Vitaliy Liberman, and Ken Shinoda. It focuses on high-quality RMBS, including both Agency and non-Agency MBS, with the flexibility to invest in other fixed income securities. The fund's portfolio duration is typically managed within two years of its benchmark.
DoubleLine Income Solutions Fund (NYSE: DSL) has announced its September 2024 distribution of $0.11 per share. The distribution schedule is as follows:
- Declaration: Tuesday, Sept. 3, 2024
- Ex-Dividend: Wednesday, Sept. 18, 2024
- Record: Wednesday, Sept. 18, 2024
- Payment: Monday, Sept. 30, 2024
The Fund clarifies that this press release is not for tax reporting purposes. The tax characteristics of the distributions will be determined at the end of the taxable year. Shareholders will receive a Form 1099-DIV in early 2025 specifying how to report the distributions on their tax returns.
The DoubleLine Yield Opportunities Fund (DLY) has announced its September 2024 distribution of $0.1167 per share. The Fund, traded on the New York Stock Exchange, has set the following dates for this distribution:
- Declaration: Tuesday, Sept. 3, 2024
- Ex-Dividend: Wednesday, Sept. 18, 2024
- Record: Wednesday, Sept. 18, 2024
- Payment: Monday, Sept. 30, 2024
The Fund clarifies that this announcement is not for tax reporting purposes. Shareholders will receive a Form 1099-DIV in early 2025, detailing the tax characteristics of distributions paid during the prior calendar year.
DoubleLine Yield Opportunities Fund (NYSE:DLY) declared a $0.1167 per share distribution for September 2024. Key dates set by the Board of Trustees are: declaration Sept 3, 2024; ex-dividend Sept 18, 2024; record Sept 18, 2024; and payment Sept 30, 2024.
The release notes distributions may comprise ordinary income, capital gains, or return of capital, and that tax characteristics will be determined at year end. Shareholders will receive a Form 1099-DIV in early 2025 detailing how the 2024 distributions should be reported for tax purposes.