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DoubleLine Equities Growth Fund "N" shares to be converted to "A" shares

TheShadowTheShadow
in Fund Discussions
http://www.sec.gov/Archives/edgar/data/1566671/000119312514319875/d779073d497.htm

Excerpt:

"Supplement dated August 25, 2014 to the Prospectus for Class I (DBEGX) and Class N (DLEGX) shares of DoubleLine Equities Growth Fund (the “Fund”) dated July 1, 2014 (the “Prospectus”) and the Fund’s Statement of Additional Information dated July 1, 2014 (the “SAI”). This Supplement updates certain information contained in the above-dated Prospectus and SAI. Please review this important information carefully.

Effective October 1, 2014, the Fund’s Class N shares will be re-designated as Class A shares (the “Re-designation”). Accordingly, if you hold Class N shares of the Fund at the time of the Re-designation, those shares will become Class A shares of the Fund. There will be no change in net asset value per share of your shares of the Fund as a result of the Re-designation. In addition, as described in more detail below, the fees and expenses related to holding, purchasing, and selling Class A shares are not expected to differ from such Class N shares fees and expenses for holders of Class N shares of the Fund at the time of the Re-designation.

As of October 1, 2014, the following changes to the Fund’s Prospectus and SAI will be in effect:

1. Except for references to the Fund’s Class N shares specifically relating to a period prior to October 1, 2014, all references to the Fund’s Class N shares are replaced with references to Class A shares..."

Comments

  • Jim0445
    This is confusing to me because Class A shares of any mutual fund normally carry a sales charge. It would have been clear if they had said the N shares would convert to a Class A, Load Waived share class. But maybe the real story is, "With a negative YTD return in 2014, who should care about this fund?" Maybe DoubleLine should stick with its knitting (i.e., bonds).
  • TheShadowTheShadow
    When I saw this filing, my thought was whether DoubleLine was going to convert all of their "N" share class funds to "A" class funds with loads.
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