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May 28, 2010 at 15:15 PM EDT
DoubleLine Total Return Bond Fund Declares Dividend for First Full Month
DoubleLine Total Return Bond Fund Assets Total Approximately $596.7 Million

LOS ANGELES, May 28 /PRNewswire/ -- The DoubleLine Funds Trust is pleased to announce that dividends from the net investment income in May of the DoubleLine Total Return Bond Fund ("the Fund") will be paid today to shareholders of record on May 27, 2010 in the Fund's I shares (DBLTX) and N shares (DLTNX).  

The month of May 2010 represents the first full month of the Fund's existence, the Fund having been launched on April 6. The Fund previously distributed dividends to shareholders for April, its first (partial) month of existence. The dividend distributions per share are below:

Month

Record Date

Payable Date

DBLTX

DLTNX

April*

4/29/2010

4/30/2010

$0.02762

$0.02690

May

5/27/2010

5/28/2010

$0.06779

$0.06631






*Dividend payment for partial month (4/6/2010 through 4/29/2010).



As of May 27, Fund assets totaled $596.7 million. Jeffrey Gundlach is Lead Portfolio Manager of the Fund and Chief Executive Officer of DoubleLine Capital LP. Philip Barach is Co-Portfolio Manager of the Fund and President of DoubleLine Capital LP.  

Mr. Gundlach will deliver a keynote address on Wednesday, June 23 at Morningstar's 22nd Annual Investment Conference at McCormick Place Convention Center in Chicago. Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia.

About DoubleLine Funds Trust

DoubleLine Funds Trust (the "Trust") was formed as a Delaware statutory trust on January 11, 2010 and is a registered investment company. DoubleLine Capital LP (the "Adviser") acts as the investment adviser for the Trust. A prospectus for the Funds can be obtained by calling 1-877-DLINE11 or be downloaded from the Internet at www.doublelinefunds.com.

About DoubleLine Capital LP

DoubleLine Capital LP is a fixed income investment management firm and a registered investment adviser under the Investment Advisers Act of 1940. The firm is majority employee-owned with CEO Jeffrey Gundlach and President Philip Barach holding a combined controlling interest in the firm. Oaktree Capital Management, L.P., a premier global alternative and non-traditional investment manager, assisted DoubleLine in its startup and holds a minority ownership stake. DoubleLine's headquarters is in Los Angeles, CA. Its offices can be reached by telephone at (213) 633-8200 or by e-mail at info@doubleline.com.

DoubleLine Capital LP Media Contact:


Mike Sitrick or Lew Phelps

Sitrick And Company (310-788-2850)

mike_sitrick@sitrick.com or lew_phelps@sitrick.com



The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1 (877) 354-6311/ 1 (877) DLINE11, or visiting www.doublelinefunds.com. Read it carefully before investing.

Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.

Investments in Asset-Backed and Mortgage-Backed Securities include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities.

DoubleLine Funds are distributed by Quasar Distributors, LLC.

SOURCE DoubleLine Capital LP

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