DoubleLine Emerging Markets Local Currency Bond Fund Class N (DLELX)

DoubleLine Emerging Markets Local Currency Bond Fund Class N is a mutual fund focused on providing investors access to the dynamic fixed-income markets of developing countries. The fund primarily invests in bonds issued by governmental and corporate entities within emerging market economies, with securities denominated in their respective local (non-U.S.) currencies. This approach aims to capture both traditional bond yields and potential currency appreciation. The portfolio is actively managed, seeking opportunities across diverse regions such as Latin America, Eastern Europe, Africa, the Middle East, and Asia. Notable fund characteristics include exposure to multiple local currencies and credit qualities, which add an additional layer of diversification and risk relative to traditional U.S. dollar-denominated bonds. Managed by an experienced team, the fund plays a strategic role in offering diversification benefits and access to the economic growth potential inherent in emerging markets within a broader fixed-income allocation. It is benchmarked against the JPMorgan GBI-EM Global Diversified Index and is structured to maintain a significant allocation—more than 65%—to local-currency bonds from emerging markets.