DoubleLine Real Estate and Income Fund

C000206624 Fund Overview

DoubleLine Real Estate and Income Fund is a US mutual fund managed by DoubleLine Funds Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: DoubleLine Funds Trust
• Category: Money Market
• Assets under management: $7.47M
• 1-year return: -6.6%
• SEC CIK: 0001480207
• SEC series ID: S000063749
• Share class ID: C000206624

C000206624 Investment Objective and Strategy

DoubleLine Real Estate and Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by DoubleLine Funds Trust.

Investment objective

The Funds investment objective is to seek total return (capital appreciation and current income) which exceeds the total return of its benchmark index over a full market cycle. The Funds current benchmark index is the Dow Jones U.S. Select REIT Total Return Index (the Dow Jones U.S. REIT Index ).

Principal investment strategy

The Fund seeks total return (capital appreciation and current income) in excess of the benchmark index, currently the Dow Jones U.S. REIT Index, over a full market cycle. The Fund will seek to use derivatives, or a combination of derivatives and direct investments, to provide a return (before fees and expenses) that approximates the performance of the DigitalBridge Fundamental US Real Estate Index (the Index ). The Fund will also invest in a portfolio of debt securities to seek to provide additional total return over the long term. The Fund uses investment leverage as part of its principal investment strategies. The Fund expects normally to invest an amount approximately equal to its net assets directly in a portfolio of debt securities while also maintaining notional exposure to the Index, providing the Fund with economic exposure to the Index in an amount up to the value of the Funds net assets.

As a result, the Funds total investment exposure (direct investments in debt securities plus notional exposure to the Index) will typically be equal to approximately 200% of the Funds net asset value ( NAV ), with approximately half of that investment exposure being to the Index and the other half to a portfolio of debt securities. It is possible that the Fund could lose money on both its investments in debt securities and its exposure to the Index at the same time. The Fund will normally use derivatives in an attempt to create an investment return that approximates (before fees and expenses) the Indexs return. For example, the Fund might enter into swap transactions or futures transactions designed to provide the Fund a return before fees and expenses approximating the Indexs return, including swap transactions or futures transactions where the reference asset is the Index or a modified version of the Index, one or more components of the Index, or an unrelated index or basket of securities.

The transaction pricing of any swap transaction will reflect a number of factors that will cause the return on the swap transaction to underperform the Index. Please see Index Risk Note regarding Index-Based Swaps in this Prospectus for more information. The Fund expects to use only a small percentage of its assets to attain the desired exposure to the Index because of the structure of the derivatives the Fund expects to use. As a result, use of those derivatives along with the Funds investments in a portfolio of debt securities will create investment leverage in the Funds portfolio. In certain cases, derivatives based on the Index or that use the Index as the reference asset might be unavailable or the pricing of those derivatives might be unfavorable; in those cases, the Fund might attempt to approximate the Indexs return by purchasing some or all of the securities comprising the Index, or portions of the Index, at the time.

If the Fund at any time invests directly in the securities comprising the Index, the assets so invested will be unavailable for investment in debt instruments, and the Funds ability to pursue its investment strategy fully and achieve its investment objective may be limited. To the extent use of the above-described derivatives strategy leaves a substantial portion of the Funds assets available for other investment by the Fund, the Fund expects to invest those assets in a portfolio of debt instruments managed by DoubleLine Capital LP ( DoubleLine Capital ), the Funds sub-adviser, to seek to provide additional total return over the long term. References to the Adviser in this section and in Principal Risks below shall refer to DoubleLine Alternatives, the Funds investment adviser, except in the case of the discussion of the Funds principal investment strategies and principal risks that relate to investing directly in debt securities, in which cases Adviser shall refer to DoubleLine Capital, the sub-adviser to the Fund and the entity primarily responsible for the day-to-day management of the Funds fixed income portfolio.

The DigitalBridge Fundamental US Real Estate Index. The Index is a rules-based index that incorporates the fundamental criteria described below originally developed by DigitalBridge Group, Inc. (which was then doing business under a different name). The Index is rebalanced and reconstituted quarterly by applying a systematic methodology to the universe of REITs, excluding mortgage REITs, that are listed on the New York Stock Exchange LLC ( NYSE ), The Nasdaq Stock Market LLC ( Nasdaq ) or the NYSE American LLC ( NYSE American ) and that meet minimum market capitalization ($1 billion) and average daily trading value criteria. The Indexs methodology screens the universe of REITs to identify quality issuers by excluding the least-profitable REITs and those with relatively high yields and, using a valuation screen, excludes the most expensive REITs, as measured by an enterprise value to operating profits ratio.

The Indexs methodology also seeks to identify quality issuers and to mitigate balance sheet risk by excluding REITs with relatively high leverage, as measured by a net debt to earnings ratio. The remaining REITs, after applying these screens, are then weighted by market capitalization (subject to certain concentration and diversification limits) to derive the Indexs composition. The Indexs methodology requires that, with each rebalance/reconstitution, the Index includes at least 25 constituents; there is no maximum number of Index constituents. As of June 30, 2023, the Index was comprised of 50 constituents selected from a selection universe of 105 REITs. Barclays Bank PLC ( Barclays ) owns the intellectual property and licensing rights related to the Index, and Barclays Index Administration, a function within the investment bank of Barclays, performs the role of index sponsor and administers the Index.

Through the Funds investments related to the Index, the Fund will have significant exposure to REITs and the risks of investing in real estate assets. As a result, the Funds NAV will be affected by factors affecting the real estate sector and/or REIT securities to a greater degree than a fund that invests more broadly. REITs tend to be smaller and medium capitalization issuers in relation to the equity markets as a whole, though the Fund may have investment exposure to REITs of any market capitalization, including small, mid or large capitalization issuers. Please see Market Capitalization Risk in this Prospectus for more information. The Funds NAV may experience more volatility than that of a fund with broader exposure to the market. If derivatives designed to provide the Fund a return approximating the Indexs return become unavailable or for other reasons, DoubleLine Alternatives may seek investment exposure to the REIT securities comprising the Index by investing in derivative instruments whose reference assets are other REIT-related indices or issuers, by investing directly in some or all of the REIT securities comprising the Index, or by investing in REIT-focused pooled investment vehicles that may provide comparable exposure.

DoubleLine Alternatives or the Funds Board of Trustees may in their sole discretion and without advance notice to shareholders select, in place of the Index, another index (such as the Dow Jones U.S. REIT Index) or a basket of investments. The Fund may gain exposure to any substitute index or basket of investments in any manner DoubleLine Alternatives determines appropriate, including those described above with respect to how the Fund may obtain exposure to the Index. Although a portion of the Funds assets may be invested in instruments whose performance is based on an index, the Funds overall portfolio includes other investments. Therefore, the Fund is not designed to replicate the performance of any index. The Funds performance will deviate, potentially significantly, from the performance of any index used by the Fund.

During the Funds last fiscal year, the Fund entered into swap transactions related to the Index with two counterparties. The Fund will likely enter into swap transactions related to the Index with a single or a limited number of counterparties for the foreseeable future. In selecting swap counterparties for the Fund, DoubleLine Alternatives will normally consider a variety of factors, including, without limitation: cost; the quality, reliability, and responsiveness of a counterparty; the operational compatibility between a counterparty and DoubleLine Alternatives; and a counterpartys creditworthiness. The Funds Investments in Debt Instruments. Under normal circumstances, to the extent use of the above-described derivatives strategy leaves a substantial portion of the Funds assets available for other investment by the Fund, the Fund intends to invest those assets in a portfolio of debt instruments managed by DoubleLine Capital to seek to provide additional total return over the long term.

The Fund may invest directly in debt instruments; alternatively, DoubleLine Capital may choose to invest all or a portion of the Funds assets in one or more fixed income funds advised by DoubleLine Capital or a related party of DoubleLine Capital. Debt instruments in which the Fund may invest include, by way of example, (i) securities or other income-producing instruments issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored corporations (including inflation-protected securities); (ii) corporate obligations; (iii) mortgage-backed securities (including commercial and residential mortgage-backed securities) and other asset-backed securities, collateralized mortgage obligations, government mortgage pass-through securities, multiclass pass-through securities, private mortgage pass-through securities, stripped mortgage securities ( e.g.

, interest-only and principal-only securities), and inverse floaters; (iv) collateralized debt obligations ( CDOs ), including collateralized loan obligations ( CLOs ); (v) foreign securities (corporate and government, including foreign hybrid securities), including emerging market securities; (vi) fixed and floating rate loans of any kind (including, among others, bank loans, assignments, participations, senior loans, second lien or other subordinated or unsecured fixed or floating rate loans, debtor-in-possession loans, exit facilities, delayed funding loans and revolving credit facilities), which may take the form of loans that contain fewer or less restrictive constraints on the borrower than certain other types of loans (covenant-lite loans); (vii) municipal securities and other debt obligations issued by states, local governments, and government-sponsored entities, including their agencies, authorities, and instrumentalities; (viii) inflation-indexed bonds; (ix) convertible securities; (x) preferred securities; (xi) payment-in-kind bonds; (xii) zero-coupon bonds; (xiii) custodial receipts, cash and cash equivalents; (xiv) short-term, high quality investments, including, for example, commercial paper, bankers acceptances, certificates of deposit, bank time deposits, repurchase agreements, and investments in money market mutual funds or similar pooled investments; and (xv) other instruments bearing fixed, floating, or variable interest rates of any maturity.

The Fund may invest in any level of the capital structure of an issuer of mortgage-backed or asset-backed securities, but does not intend to invest in the equity or first loss tranche of such investments. In managing the Funds portfolio of debt instruments, under normal market conditions, the portfolio managers intend to seek to construct an investment portfolio with an overall dollar-weighted average effective duration of between one and three years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a securitys price to changes in interest rates.

C000206624 Holdings

Top 10 holdings of DoubleLine Real Estate and Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000206624 holdings

C000206624 Portfolio Allocation

Asset-class allocation of DoubleLine Real Estate and Income Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000206624 Performance

Total returns for C000206624 (as of 2026-10-01), from SEC filings.

C000206624 Risk Information

Risk metrics for C000206624, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 19.6%

C000206624 Costs and Fees

C000206624 costs about $91 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.91%
• Gross expense ratio: 2.36%
• Portfolio turnover: 106%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000206624 Cashflows

Over the 12 months to 2023-09, DoubleLine Real Estate and Income Fund had net inflows of $2.89M, from monthly SEC N-PORT filings.

C000206624 Debt Constituents

Largest debt holdings of DoubleLine Real Estate and Income Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000206624 Prospectus and SEC Filings

Official DoubleLine Real Estate and Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2023-07-26
• Prospectus (485BPOS) — filed 2022-07-28
• Prospectus supplement (497) — filed 2021-12-20
• Portfolio holdings (N-PORT) — filed 2023-11-24
• Portfolio holdings (N-PORT) — filed 2023-08-29
• Portfolio holdings (N-PORT) — filed 2023-05-26
• Annual census (N-CEN) — filed 2023-06-07
• Annual census (N-CEN) — filed 2022-06-09

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.