DoubleLine Emerging Markets Local Currency Bond Fund Class N
DLELX
NASDAQ9.53
USD
-0.02
- -
CIK
0001480207
ISIN
US2586205740
CUSIP
258620574
Return %
Stock
S&P500
1Y
3.25
19.01
3Y
8.54
65.48
5Y
0.42
72.20
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Los Angeles, CA 90071 Austin TX United States of America 78746
- IPO Date
- Jun 28, 2019
- CIK
- 0001480207
- Website
- us.dimensional.com
- Similar Companies
- Business
- DoubleLine Emerging Markets Local Currency Bond Fund (DLELX) is a mutual fund that seeks high total return from current income and capital appreciation by investing principally in bonds of issuers in emerging market countries denominated in local (non-U.S.) currencies. The Fund, a series of DoubleLine Funds Trust managed by DoubleLine Capital LP, primarily allocates at least 80% of its net assets (plus any borrowings for investment purposes) to such bonds, including sovereign debt; quasi-sovereign obligations issued by governmental agencies and instrumentalities; supranational obligations; and private, non-governmental issuers; as well as government and private high yield debt securities, inflation-indexed securities, bank loans, and hybrid securities with fixed or variable interest rates and any maturity. Class N shares (DLELX), launched on June 30, 2019, carry a net expense ratio of 1.15% (gross 2.53%), a minimum initial investment of $2,000 ($500 for HSA/IRA), and as of September 30, 2025, manage approximately $1.05 million in share class assets within the Fund's total net assets of $225.6 million; the Fund is domiciled in the United States, benchmarks performance against the J.P. Morgan GBI-EM Global Diversified Index (USD), and exhibits a portfolio duration of 5.05 years, weighted average life of 6.72 years, and 50 holdings with top exposures to Mexican Peso (13.45%), Rand (13.03%), and Brazilian Real (11.45%) currencies across sovereign (86.12%), finance (9.41%), and other sectors in regions including Americas (33.49%), CEEMEA (31.67%), and Asia (30.67%). Portfolio managers include Mark Christensen, Su Koo, William Campbell, and Valerie Ho, who employ a top-down global macro analysis combined with bottom-up fundamental research, monthly asset allocation meetings chaired by Jeffrey Gundlach, country screening for liquidity and rule of law, and active daily monitoring. The Fund operates within the emerging markets local-currency bond segment, targeting institutional and retail investors seeking exposure to high-yield opportunities in developing economies such as Mexico, South Africa, Brazil, Indonesia, Hungary, India, Malaysia, Thailand, Peru, and Poland, with geographic focus on liquid emerging market countries excluding those with significant access impediments. DoubleLine Capital LP, the investment adviser headquartered in Los Angeles with additional offices in Tampa, Dubai, Tokyo, and London, oversees the Fund as part of its broader fixed income platform; the Funds Trust distributes shares via Quasar Distributors, LLC. Recent developments include sustained performance through September 30, 2025, with Class N shares delivering year-to-date returns of 16.76%, 1-year returns of 8.16%, 3-year annualized returns of 10.04%, and since-inception annualized returns of 1.25%, outperforming the benchmark on a risk-adjusted basis via shorter duration positioning and selective corporate exposure for yield pickup and spread compression; SEC 30-day yields stood at 6.09% (gross) and 6.00% (net). The Adviser maintains a contractual fee waiver and expense reimbursement agreement through August 1, 2026, supporting the net expense ratio, amid ongoing portfolio characteristics showing an average price of $98.48 and credit quality tilted toward BBB (40.73%) and BB (24.20%) ratings. No major acquisitions, partnerships, funding rounds, name changes, or strategic reorganizations specific to the Fund have been reported in the last 1-2 years, with DoubleLine Capital focusing on broader firm initiatives such as ETF launches in real estate and commodities while the Fund adheres to its core local currency strategy.