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Rating:DoubleLine Subadvises, In Luxembourg Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 21, 2013

DoubleLine Subadvises, In Luxembourg

News summary by MFWire's editors

Maybe Jeffrey Gundlach and his old band Nuisance can play at the Rock um Knuedler festival in Luxembourg City.

The former drummer's DoubleLine [profile] will sub advise an equity product for the Luxembourg-registered UCITS IV Sicav Alma Capital Investment Funds (an affiliate of the French firm Alma Capital) .

The product, dubbed the Alma DoubleLIne US Small Cap Growth Equity Fund, will mimic the DoubleLine Small Cap Growth Equity Fund and will be managed by the recently launched DoubleLine affiliate: DoubleLine Equity LP. This arm launched in January three funds, including the Small Cap Growth Fund.

This is the second fund DoubleLine subavises for Alma. The first is a bond product, the Alma DoubleLIne US Small Cap Growth Equity Fund.

Here is the news report from Europe:

Alma Capital offers equity fund outsourced to DoubleLine

NewsManagers Paul Sérieys 21 October 2013

The Luxembourg-registered UCITS IV Sicav Alma Capital Investment Funds (an affiliate of the French firm Alma Capital) on Friday was issued a license by the CSSF for a second sub-fund outsourced to the US firm DoubleLine. After the AlmaDoubleLine Core Plus Bond, the firm is now creating an equity fund, Alma DoubleLIne US Small Cap Growth Equity Fund, which will be managed by a new affiliate of DoubleLine Group (USD57bn), founded by Jeffrey Gundlach, entitled DoubleLine Euqity LP, founded in January 2013 by Husam Nazer and Brendt Stallings. The new fund is a clone of the DoubleLine Small Cap Growth Equity fund, launched on 1 April 2013, which has since then far outperformed its benchmark.The portfolio, which is focused on US growth small caps, will as a general rule include 60 to 80 positions, and will use the Russell 2000 Growth index as its benchmark.

The ex-ante turnover rate will be 50% to 80% per year, and the average market capitalisation of the fund totals USD1.98bn, compared with USD1.83bn for the benchmark.The objective is to select growth shares whose postential for free cash flow (FCF) in the next 3 to 5 years has not been integrated into its stock price. The management team is convinced that market prices follow distributable FCF over a 3- to 5-year investment horizon.Management commissions are set at 1.25% for institutional shares (I) available from EUR/USD/GBP250,000, and 1.75% for retail shares (R) available with a minimal initial subscriptino of EUR/USD/GBP1,000.

Agefi SA

Document NEWMAN0020131021e9al0000f

DoubleLine Capital LP/DoubleLine Equity LP (“DoubleLine”) is a registered investment adviser; any investment advice contained within this communication is subject to change without notice. DoubleLine assumes no duty to update the information contained within this email. The DoubleLine Funds are distributed by Quasar Distributors, LLC. Past performance is no guarantee of future results. Mutual fund investing involves risk. Principal loss is possible. Current and more complete mutual fund information can be obtained at www.doublelinefunds.com. This email (and any attachments thereto) is intended only for use by the addressee(s) named herein and may contain confidential information. If you are not the intended recipient, you must not read, use or disseminate the information; please advise the sender immediately by reply email and delete this message and any attachments without retaining a copy. Although this email and any attachments are believed to be free of any virus or other defect that may affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by DoubleLine for any loss or damage arising in any way from its use. DoubleLine® is a registered trademark of DoubleLine Capital LP.

Edited by: Tommy Fernandez

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