Two of DoubleLine Capital's [profile] founding team members are powering a new fund.

Yesterday (March 4), Andrew Hsu, head of the global infrastructure and asset-backed securities (ABS) group at DoubleLine, unveiled the launch of the DoubleLine Asset-Backed Securities ETF (DABS on the NYSE Arca). Tampa, Florida-DoubleLine ETF Adviser LP serves as the new ETF's investment advisor.

DABS' inception date was Friday (February 28), and it comes with an expense ratio of 39 basis points. As of yesterday, the new fund had $25 million in AUM.

The PM team for DABS includes: Fifi Wong, a portfolio manager in the ABS group; and Hsu himself. Both have been with the firm since its creation in 2009.

Hsu puts the launch of DABS in the context of "the growth in the ABS market, both in size and breadth."

"DoubleLine's tenured Asset-Backed Securities team manages $4.7 billion in ABS in multi-sector portfolios," Hsu states. "Investors now have access to a pure play in diversified, high-grade ABS through an actively managed exchange-traded fund."

DABS is an actively managed series of the DoubleLine ETF Trust. The ETF's other service providers include: Deloitte & Touche LLP as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; J.P. Morgan Chase Bank, N.A. as administrator, custodian, and transfer agent; and Ropes & Gray LLP as counsel. 

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