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DBSCX - Doubleline Selective Credit

gmarceau
in Fund Discussions
I stumbled across this at Morningstar and haven’t been able to locate anywhere that this one can be purchased. Not on Fidelity, Schwab, or TD. Even the brokerage as part of my 401k which offers lots of institutional shares turns up nothing.

Anyone else looked into this fund?

Comments

  • MarkMark
    Could be it's only available through Doubleline itself (which I'm sure you've thought of).
  • msf
    It's not just that no broker sells it (see M* purchase page for the fund), and that it's not shown on DoubleLine's public-facing website, but that only DoubleLine itself (acting as an adviser for accredited investor clients) may buy shares. The fund is not registered with the SEC under the 1933 Act for public sale.

    From the prospectus:
    Purchase and Sale of Shares

    Shares of the Fund may currently be purchased in transactions by the Adviser or its related parties acting in their capacity as investment adviser (or in a similar capacity) for clients, including separately managed private accounts, investment companies registered under the Investment Company Act of 1940, as amended (the “1940 Act”), and other funds, each of which must be an “accredited investor” as defined in Regulation D under the Securities Act of 1933, as amended (the “Securities Act”). The Fund also may permit purchases of shares by (i) qualified employees, officers and Trustees of the Fund and their qualified family members; (ii) qualified employees and officers of DoubleLine or DoubleLine Group LP and their qualified family members; (iii) qualified affiliates of DoubleLine or DoubleLine Group LP; and (iv) other qualified accounts. The Fund expects to offer its shares to a broader group of investors in the future, including, potentially, through a public offering of its shares following registration under the Securities Act, and the Fund may in its discretion make its shares available for purchase by any other investors from time to time without notice to shareholders of the Fund. The Fund may at its discretion reject any purchase order for the Fund’s shares.
  • gmarceau
    Good find msf, really solid performance on this one especially when compared to DBLTX. Mark, exactly, looked on Doubleline's site - it's nowhere to be found, but maybe in the future as per the prospectus...
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