AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that DoubleLine Equity LP will assume sub-advisor responsibilities of the AdvisorShares Wilshire Buyback ETF (NYSE Arca: TTFS) on October 11, 2018. On that date, the fund will be renamed the AdvisorShares DoubleLine Value Equity ETF and will change its ticker symbol to DBLV.
The managers of DBLV seek to deliver capital appreciation and attractive risk-adjusted returns over full market cycles by investing in classic value opportunities in companies with temporarily depressed earnings and in quality value opportunities in durable franchises or disruptor franchises. Both represent two sides of the same coin of fundamental value investing: the search for stocks of companies which are undervalued because of market misperceptions.
"Our core mandate strives to deliver better risk-adjusted returns and put our investors first," said Jeffrey Gundlach, founder and chief executive officer of DoubleLine. "We are happy to forge this partnership with AdvisorShares and believe that DBLV will provide a compelling and transparent value equity investment."
"DoubleLine's distinguished track record and exemplary portfolio management span multiple asset classes," said Noah Hamman, chief executive officer of AdvisorShares. "We're pleased to announce this partnership and believe that both current and prospective fund shareholders will benefit from DoubleLine's portfolio management, which will now showcase their equity expertise in a fully transparent and operationally efficient ETF structure."
DoubleLine Equity LP is an affiliated company of DoubleLine Capital LP. The portfolio managers of DBLV are Emidio Checcone, CFA, and Brian Ear, CFA, CPA.
Before joining DoubleLine, Mr. Checcone worked as Portfolio Manager at Huber Capital Management and as Equity Research Analyst at PRIMECAP Management. He earned a Bachelor of Arts from Harvard College, a Master of Business Administration from Harvard Business School and a Juris Doctor from Harvard Law School. He holds the Chartered Financial Analyst (CFA) designation.
Mr. Ear has 20 years of professional investment experience. Before joining DoubleLine, Mr. Ear worked as Portfolio Manager at Palmyra Capital Advisors and in analyst roles at Hotchkis and Wiley Capital Management. He earned a Bachelor of Science from The Wharton School at The University of Pennsylvania. He holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations.
"Value investing is a timeless discipline which can deliver attractive risk-adjusted returns when consistently and intelligently applied over time," Mr. Checcone said. "Moreover, growth investing has enjoyed an extraordinarily protracted and pronounced period of outperformance relative to value. This creates a potential set-up for value investing to return to favor. Thus, this could be a timely juncture to invest in DBLV."
On Thursday, October 18th at 4:00 pm EDT (1:00 pm PDT), AdvisorShares will host an investor webinar in which Emidio Checcone will provide an overview of DoubleLine's fundamental value equities management and a detailed discussion of DBLV. Jeffrey Gundlach, CEO of DoubleLine Capital, will introduce the webcast. To register for this webinar, please visit https://info.advisorshares.com/dblv/webinar. For financial professionals and investors requesting more information, please visit www.advisorshares.com/fund/dblv or call an AdvisorShares investment consultant at 1-877-THE-ETF1 (1-877-843-3831).
About AdvisorShares
A leading provider in the actively managed ETF marketplace, AdvisorShares offers 17 active ETFs with approximately $800 million of assets under management (as of October 1, 2018). Visit www.advisorshares.com to register for complimentary commentary and weekly updates on our active ETF suite. Visit www.alphabaskets.com for educational insight into the active ETF marketplace, and follow @AdvisorShares on Twitter, and on Facebook.
About DoubleLine Equity LP
DoubleLine Equity LP is an investment adviser registered under the Investment Advisers Act of 1940. As of the September 30, 2018 close of the third quarter, DoubleLine Equity LP and its related companies ("DoubleLine") managed $123 billion in assets across all vehicles including open-end mutual funds, closed-end funds, exchange-traded funds, hedge funds, variable annuities, UCITS, collective investment trusts and separate accounts. DoubleLine's offices can be reached by telephone at (213) 633-8200 or by e-mail at info@doubleline.com. Media can e-mail DoubleLine at media@doubleline.com. DoubleLine® is a registered trademark of DoubleLine Capital LP.
