SPDR DoubleLine Total Return Tactical ETF soars to $1bn AUM in six months

Sep 11th, 2015 | By | Category: Fixed Income

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State Street Global Advisors, the world’s second largest asset manager and a leading global provider of exchange-traded funds, has announced that the actively managed SPDR DoubleLine Total Return Tactical ETF (NYSE Arca: TOTL) has surpassed $1bn in assets under management despite only launching in February this year.

SPDR DoubleLine Total Return Tactical ETF soars to $1bn AUM in 6 months

Jeffrey Gundlach, chief executive officer and chief investment officer of DoubleLine Capital.

Sub-advised by Jeffrey Gundlach’s DoubleLine Capital, the fund seeks to maximise total return and is performance benchmarked against the Barclays US Aggregate Bond Index . The active mandate allows for the over- and under-weighting of sectors where the manager holds a particular view, as well as the selection of securities outside of the index.

The demand for this active ETF highlights investors’ desire to gain fixed income exposure through the low-cost and liquid structure of an ETF while also permitting leeway in navigating the uncertain outlook for interest rates.

“With the possibility of higher interest rates in the near future, but the need for income remaining paramount, investors are reevaluating their approach to managing the core of their fixed income portfolios,” said James Ross, executive vice president and global head of SPDR ETFs at SSGA. “TOTL offers the active management expertise and skill of DoubleLine and this asset milestone illustrates both the shared challenges and appeal of the solution offered through this SPDR ETF to institutions, financial advisors and retail investors.”

The fund holds a broad selection of security types although most of the fund is concentrated in mortgage backed securities (57.5%) while emerging market debt (9.8%) and commercial mortgage backed securities (7.6%) are the second and third largest holdings in the portfolio. The vast majority of the securities are traded in the US (87.3%). More than two-third of holdings held the credit rating of Aaa (71.5%), while the remaining securities were ranked Aa (4.5%), A (11.3%) and Baa (12.7%). (Data as of 8 September).

The fund has a total expense ratio of 0.55% due to a fee waiver in place until November 2016, upon which the total fee will increase to 0.65%.

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