NEW YORK, April 10 Investment management firm
Brinker Capital announced Monday the launch of the Destinations
Funds, a series of 10 multi-manager mutual funds advised by
Brinker Capital that it said aims to cut investors' overall
costs and lower the account minimum on portfolios.
The funds now serve as the building blocks of the
Destinations fee-based mutual fund advisory portfolios, which
launched in 1995 and currently have $9.3 billion in assets under
"The decision to evolve the operational infrastructure of
Destinations has resulted in what we believe are two key
benefits to financial advisors and investors: it enables us to
lower costs and provides financial advisors and investors with
greater access to unique investment strategies," said Noreen
Beaman, chief executive officer at Brinker Capital.
With the Funds being part of the Destinations advisory
portfolios, Brinker Capital said it will be able to provide a
cost-effective solution to investors and a level fee structure
that aligns with the Department of Labor Fiduciary Rule.
With this change, Brinker Capital reduced existing qualified
investors’ overall costs by an average of 21 percent, and
lowered the account minimum of the Destinations portfolios to
$10,000, making an institutional multi-asset class investment
strategy more widely available to individual investors.
The 10 institutional class Funds which make up the
Destinations multi-asset class portfolios are as follows:
Destinations Large Cap Equity Fund, Destinations Small-Mid Cap
Equity Fund, Destinations Equity Income Fund, Destinations
International Equity Fund, Destinations Core Fixed Income Fund,
Destinations Low Duration Fixed Income Fund, Destinations Global
Fixed Income Opportunities Fund, Destinations Municipal Fixed
Income Fund, Destinations Real Assets Fund, and Destinations
Multi Strategy Alternatives Fund.
Jeffrey Gundlach's DoubleLine Capital is among a select
group of investment managers tapped to subadvise investment
strategies within the Funds.
“Brinker Capital, highly regarded for their commitment to
investors and skilled asset allocation, was an early
institutional investor when we launched DoubleLine Funds in
2010. So naturally we look forward to continuing our strong,
working relationship with Brinker Capital and are pleased to
support the launch of their new fund family,” said Gundlach,
chief executive officer at DoubleLine.
(Reporting By Jennifer Ablan; Editing by Bernard Orr)