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Regarding the infrastructure fund, this could be reflective of infrastructure moving into another phase. With all the political noise (e.g. FEMA not funding disaster reconstruction, alternative energy projects cancelled, bridge construction threatened), I haven't taken much of a look at the bigger picture.
Infrastructure burst onto the investment scene about 15-20 years ago. In the US and elsewhere, post WW2 and older infrastructure was decaying. (It still is.) There was an expectation that lots of money would be poured into pouring concrete. Things change and this fund could just be changing along with that.
30 years or so ago, my father owned shares of the Energy Fund. Energy used to be a heavily regulated industry and companies provided reliable income and limited growth. With deregulation, energy no longer fit that description. The fund gradually deemphasized energy, becoming Selected Sectors, and then Focus Fund. It evolved into a broad based large cap fund, and today is classified as a global large cap fund. Industries change.
Likewise, this DoubleLine fund is gradually deemphasizing infrastructure, reducing that sector from 80% to 50% of its holdings.
Side note: N&B funds, including Focus Fund, are in the process of doing a reverse split for an unusual reason. The original (investor) shares are not being split (or reverse split), but other share class shares are, in order to bring their prices closer together. Minor changes, something like 1: 0.95 (reverse split) or 1:1.01 (split). https://www.sec.gov/Archives/edgar/data/44402/000089843225000623/form497.htm
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Infrastructure burst onto the investment scene about 15-20 years ago. In the US and elsewhere, post WW2 and older infrastructure was decaying. (It still is.) There was an expectation that lots of money would be poured into pouring concrete. Things change and this fund could just be changing along with that.
30 years or so ago, my father owned shares of the Energy Fund. Energy used to be a heavily regulated industry and companies provided reliable income and limited growth. With deregulation, energy no longer fit that description. The fund gradually deemphasized energy, becoming Selected Sectors, and then Focus Fund. It evolved into a broad based large cap fund, and today is classified as a global large cap fund. Industries change.
Likewise, this DoubleLine fund is gradually deemphasizing infrastructure, reducing that sector from 80% to 50% of its holdings.
Like DoubleLine Floating Rate fund, this infrastructure fund will be "adopted" by American Beacon.
https://mutualfundobserver.com/discuss/discussion/64517/doubleline-floating-rate-fund-to-be-reorganized
Side note: N&B funds, including Focus Fund, are in the process of doing a reverse split for an unusual reason. The original (investor) shares are not being split (or reverse split), but other share class shares are, in order to bring their prices closer together. Minor changes, something like 1: 0.95 (reverse split) or 1:1.01 (split).
https://www.sec.gov/Archives/edgar/data/44402/000089843225000623/form497.htm