State Street Global Advisors the asset management business of State Street Corporation , announced that the SPDR DoubleLine Total Return Tactical ETF began trading today on the NYSE Arca. Developed by SSGA and DoubleLine Capital, TOTL is the first actively managed ETF to offer investors access to DoubleLine’s investment research process...…
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This core fixed income strategy seeks to maximize total return over a full market cycle by actively investing across global fixed income sectors.
“We are very excited about the partnership with DoubleLine and the launch of TOTL. We view this as a unique offering that pairs SPDR’s experience as an ETF pioneer with DoubleLine’s well-established investment talent,” said James Ross, executive vice president and global head of SPDR Exchange Traded Funds at State Street Global Advisors. “TOTL is an option for investors who are focused on strengthening their core bond exposure through an actively managed, multi-sector strategy.”
The ETF will be managed by Jeffrey Gundlach, chief executive officer and chief investment officer of DoubleLine Capital, Philip Barach, DoubleLine president, and Jeffrey Sherman, portfolio manager and participant on the firm’s Fixed Income Asset Allocation Committee.
“DoubleLine is pleased to partner with SSGA, the pioneer of exchange traded funds,” Mr. Gundlach said. “DoubleLine was founded on the idea of striving to deliver better risk-adjusted returns across our different investment strategies. In TOTL, we will strive to maintain the fund’s portfolio investments with a shorter duration than the Barclays US Aggregate Bond Index while seeking to generate a healthy yield. That combination is key to meeting the fund’s total return objective within a discipline of strong risk management.”
DoubleLine will actively manage TOTL through a top-down macroeconomic process, allocating capital among different fixed income sectors, with bottom-up security selection.
Select Characteristics of SPDR DoubleLine Total Return Tactical ETF (TOTL):
Portfolio managers Gundlach, Barach and Sherman draw on decades of experience investing in fixed income. DoubleLine’s Fixed Income Asset Allocation Committee members have worked together for an average of 16 years and have more than 22 years average industry experience. DoubleLine oversees $64 billion in assets under management.1
TOTL combines traditional fixed income investment sectors of the Barclays US Aggregate Bond Index and fixed income asset classes outside the index with the goal of maximizing total return over a full market cycle through active sector allocation and security selection.
DoubleLine will strive to maintain TOTL’s portfolio investments with a shorter duration than that of the Barclays US Aggregate Bond Index.
Duration is a measure of the sensitivity of the price of a fixed income investment to a change in interest rates expressed as a number of years.
TOTL has a net expense ratio of 0.55%2 and a gross expense ratio of 0.65%.3
The ETF structure offers transparency, intraday trading liquidity and no investment minimums.
Source: ETFWorld.com
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