Investment Grade Floating Rate Fund

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(as of 12/05/2015)

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Investment Grade Floating Rate Fund

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Summary

Summary

What is the Investment Grade Floating Rate Fund?

The Fund’s investment objective is to seek a high level of current income by investing primarily in a broad range of investment grade, floating rate instruments.

 

DEEP CREDIT EXPERTISE

Leverages the firm’s 50+ year history in multi-sector credit investing

HIGH QUALITY WITH LOW DURATION

A high quality portfolio designed to have limited interest rate exposure by investing primarily in investment grade securities with floating rate coupons

EXPANDED OPPORUNITY SET

Deep domain knowledge of sector specialists across Securitized Products and Corporate Credit provides a wide opportunity set for investment

Yield

Average Yield to Maturity as of 10/31/2023

7.04%

30-Day Standardized Yield 1 as of 10/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.21% 5.61%

Fund Basicsas of 10/31/2023

Total Net Assets
$11.40 M
Inception Date
05/01/2023*
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.95%
Fund Net Expense Ratio
0.55%
Number of Holdings
71
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/04/2023
w/o sales charge - - - - - 5.10%
Lipper Category Avg. Loan Participation Funds - - - - - -
w/ sales charge - - - - - 2.74%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/04/2023
w/o sales charge - - - - - 3.90%
Lipper Category Avg. Loan Participation Funds - - - - - -
w/ sales charge - - - - - 1.56%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

INVESTMENT TEAM

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

15 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Partner, Portfolio Manager

20 Years of Industry Experience

Harris Trifon
Harris Trifon

Partner, Portfolio Manager

23 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

32 Years of Industry Experience

Supported By 64 Investment Professionals with 15 Years Avg. Industry Experience

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Performance

Performance

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/04/2023
w/o sales charge - - - - - 5.10%
Lipper Category Avg. Loan Participation Funds - - - - - -
w/ sales charge - - - - - 2.74%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/04/2023
w/o sales charge - - - - - 3.90%
Lipper Category Avg. Loan Participation Funds - - - - - -
w/ sales charge - - - - - 1.56%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

Portfolio

Portfolio

Type Assets
MBS Other
CLO
ABS
Other
US Bank Loan High Yield
US Corp High Grade
US Bank Loan High Grade
Non-US Corp High Grade
Non-US Bank Loan High Yield
Non-US Bank Loan High Grade
Cash
Rating Assets
10-10.99 yrs
9-9.99 yrs
6-6.99 yrs
7-7.99 yrs
2-2.99 yrs
4-4.99 yrs
1-1.99 yrs
8-8.99 yrs
5-5.99 yrs
12-12.99 yrs
3-3.99 yrs
15-15.99 yrs
11-11.99 yrs
28-28.99 yrs
19-19.99 yrs
18-18.99 yrs
14-14.99 yrs
0-0.99 yrs

Credit Quality Distribution as of 10/31/2023

Rating Assets
AAA
Not Rated
AA
A
BBB-
GOV
AA-
BBB+
BB-
A-
BB+
BBB
AA+
BB
B-

PORTFOLIO DETAILS as of 10/31/2023

Total Net Assets
$11.40 M
Average Effective Duration
0.25 Years
Average Life
2.51 Years
Number of Issues
71
Average Yield to Maturity
7.04%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 12/01/2023
$0.35312
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2023 $0.05302 $10.15
Daily Daily 10/31/2023 $0.05430 $10.12
Daily Daily 09/30/2023 $0.05060 $10.14
Daily Daily 08/31/2023 $0.05292 $10.12
Daily Daily 07/31/2023 $0.05149 $10.10
Daily Daily 06/30/2023 $0.04886 $10.04

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2023

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 12/01/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.50% 2.00% $10.38
$100,000 to $249,999 1.75% 1.50% $10.33
$250,000 to $499,999 1.25% 1.00% $10.28
Greater than $500,000 0.00% 1.00% $10.15

Expense Ratioas of 10/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
1.95% 0.55%

Fund Documents

Fund Documents

0Documents selected
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015

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