DoubleLine Multi-Asset Trend Fund Class N
DLMOX
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- DoubleLine Multi-Asset Trend Fund Class N (DLMOX) is a mutual fund managed by DoubleLine Capital LP that seeks to approximate the performance of the BNP Paribas Multi-Asset Trend Index through derivatives or a combination of derivatives and direct investments. The fund targets persistent trends in price movements across domestic, foreign, and emerging market equities; sovereign bonds and other debt securities; interest rates; currencies; and commodities, employing strategies including futures contracts, options, swaps, and short positions to achieve long or short exposures. It maintains a portfolio with a dollar-weighted average effective duration typically between one and eight years, focusing on fixed income instruments such as mortgage-backed securities, U.S. Treasury obligations, and asset-backed securities while using derivatives for hedging, leverage, and trend-following. DoubleLine Capital LP, the fund's investment adviser, was founded in 2009 and is headquartered in Tampa, Florida, with key operations in Los Angeles, California; the firm manages approximately $95 billion in assets across mutual funds, closed-end funds, ETFs, subadvisory accounts, and other vehicles. The firm, led by CEO and Chief Investment Officer Jeffrey Gundlach, specializes in fixed income and multi-asset strategies with a team averaging over 20 years of experience, emphasizing active risk management and a long-term investment horizon of 18-24 months. In a significant recent development, the DoubleLine Multi-Asset Trend Fund, including Class N shares (DLMOX), is scheduled for liquidation in February 2025 due to low assets under management of approximately $10 million, following the prior liquidation of the related DoubleLine Multi-Asset Growth Fund in October 2023. DoubleLine Capital continues to expand its offerings, including the launch of the Multi-Sector Income ETF (DMX) in late 2024 and ongoing ETF reorganizations such as the proposed conversion of the Securitized Credit Fund into an ETF structure in 2025. The firm remains employee-owned and has maintained steady growth without major acquisitions or partnerships announced in 2024-2025, focusing on its core fixed income and multi-asset capabilities for institutional and retail investors globally.