About: The Fund is a diversified closed-end investment management company that seeks a high level of current income with the secondary objective of preservation of capital. Under normal market conditions, it invests at least 80% of its assets in floating rate debt securities and instruments. There is no limitation to investment in senior floating rate loans and other floating or fixed rate debt securities and instruments that are rated below investment grade by the established rating services. However, it may not invest more than 10% of its total assets in securities and instruments that are rated Caa1 / CCC+ or lower. The Fund intends to leverage its portfolio up to 30% of the value of its total assets through borrowings, the issuance of debt securities or preferred stock or a combination thereof.
Tags: Asset Management Financial Services