The folks at a 15-year-old, 262-employee, $95-billion-AUM (as of September) mutual fund firm in central Florida are expanding their ETF lineup to seven (including four fixed income ETFs).

Ron Redell DoubleLine Funds President

This morning, Ron Redell, president of DoubleLine [profile], unveiled the launch of the DoubleLine Multi-Sector Income ETF (DMX on the NYSE Arca, Inc.). Tampa-based DoubleLine ETF Adviser LP serves as investment advisor to the new fund (which has no apparent relation to a certain late rapper).

DMX's inception date was November 29 (i.e. Black Friday). The actively managed ETF comes with an expense ratio of 49 basis points.

The PM team for DMX includes: Robert Cohen, director of DoubleLine's global developed credit team; and Ken Shinoda, lead portfolio manager for the firm's non-agency residential mortgage-backed securities (RMBS) team and chairman of the structured products committee.

"We continue to expand our ETF product suite with thoughtful investment solutions that offer our clients unique access to valuable segments of the market," Redell states.

Cohen emphasizes that DMX is powered by "individual security selection across credit markets."

"We aim to build a portfolio that provides attractive yields and income with potentially lower volatility than one composed solely of high yield corporates," Cohen states.

Shinoda describes the DMX investment process as beginning "with bottom-up credit underwriting and ends with portfolio construction."

"The latter takes into consideration relative value among the different sectors and builds an asset allocation based on our outlook on the economic cycle. Specialized investment teams conduct fundamental research on their respective sectors of the fixed income universe and security-level analysis," Shinoda states. "Portfolio managers construct the portfolio in an effort to contain complementary and diversified risk factors and sources of return. Security and sector exposures are repositioned through time to manage evolving risks over a market cycle."

DMX is a series of DoubleLine ETF Trust. The new 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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