Seix Floating Rate High Income
Fund Resources
- Fact Sheet (PDF | 117 KB)
- Commentary (PDF | 89 KB)
- Strategy Highlight (PDF | 77 KB)
- Prospectus (PDF | 874 KB)
- Annual Report (PDF | 1 MB)
- Semi-annual Report (PDF | 1 MB)
- SAI (PDF | 6 MB)
- Seix Kit
| Class | CUSIP | Ticker |
|---|---|---|
| A | 76628T660 | SFRAX |
| C | 76628T652 | SFRCX |
| I | 76628T678 | SAMBX |
Subadvisor
Objective of the strategy
The strategy seeks to provide a high level of current income by investing primarily in first and second lien senior floating rate loans and other floating rate debt securities.
Similar to Seix Floating Rate High Income Fund
Investment Grade Tax-Exempt Bond Fund
There is no guarantee these funds will meet your investment objective.
What are the principles that have enabled the strategy to be successful?
Targeted universe — focus primarily on the healthiest segment of the bank loan market – loans that have ratings of BB or B.
Multiple value sources — create value through in-depth company research, deliberate industry weightings and optimal structures. Companies are modeled according to specifics that drive their industry group, to determine those that provide the best relative value. We also seek to add value by looking for positive industry fundamentals and making effective use of structure.
Risk controls — diversification controls are in place to limit sector and individual security weights within the portfolio.
Investment Risks
Although the Fund's yield may be higher than that of fixed income funds that purchase higher-rated securities, the potentially higher yield is a function of the greater risk that the Fund's share price will decline.
This Fund is non-diversified, which means that it may invest in the securities of relatively few issuers. It also may invest in foreign securities which can pose additional risks, since political and economic events unique to a country or region will affect those markets and their issuers.
Floating rate loans are typically senior and secured, in contrast to other below-investment grade securities. However, there is no guarantee that the value of the collateral will not decline, causing a loan to be substantially unsecured. Loans generally are subject to restrictions on resale, and they sometimes trade infrequently in the secondary market. Certain types of loans may limit the ability of the Fund to enforce its rights and may involve assuming additional credit risks.
Additionally, investments concentrated within a single market sector, may make the Fund more susceptible to economic and market fluctuations within that sector.
Bond Funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.