Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
8.7%
1 yr return
9.4%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$391 M
Holdings in Top 10
20.5%
Expense Ratio 2.25%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
In order to accomplish the Funds objective, the Fund invests in a portfolio composed mainly of senior secured corporate loans (sometimes referred to as adjustable rate loans, floating rate loans or bank loans). These loans hold a senior position in the capital structure and, at the time of purchase, are typically rated below investment grade. Such loans are considered to be speculative investments. The senior secured corporate loans in which the Fund invests generally are expected to bear interest at floating rate based on SOFR or such other alternative reference rate as has been adopted with respect to each loan in replacement of LIBOR. The Fund may invest in loans with financial maintenance covenants and loans that contain limited, if any, financial maintenance covenants that protect lenders (sometimes referred to as covenant-lite obligations). The Fund invests primarily in floating rate loans and other floating rate investments, but also may invest in other debt securities, including high yield securities (commonly referred to as junk bonds).
The Fund invests a majority of its assets in the securities of U.S. issuers, but may also invest in securities of non-U.S. issuers including, without limitation, securities issued by Canadian, U.K., and European corporations. The Fund has no restrictions on investment maturity. The Fund may invest in both the primary and secondary markets and may invest in secured corporate loans and other debt securities (which may be unsecured) made in connection with highly leveraged transactions, including but not limited to operating loans, leveraged buyout loans and bonds, and leveraged recapitalization loans and bonds. The Fund may also invest in debtor-in-possession loans (i.e., senior obligations issued in connection with restructuring proceedings).
Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in senior secured debt instruments. Such debt instruments include: floating rate bonds; floating rate notes; floating rate debentures; tranches of floating rate asset-backed securities, including structured notes, made to, or issued by, U.S. and non-U.S. corporations or other business entities; and other investment companies (including exchange traded funds) (ETFs) that invest primarily in floating rate assets. The Fund considers the investments of the underlying funds when determining its compliance with this 80% policy. Asset-backed securities include collateralized loan obligations (CLOs). The Fund may invest in senior or subordinate tranches of a CLO or other structured product. The Fund may invest up to 20% of its total assets, measured at the time of purchase, in a combination of one or more of the following types of U.S. dollar denominated investments: senior or subordinated fixed rate debt instruments, including notes and bonds, whether secured or unsecured; short-term debt obligations, repurchase agreements and cash and cash equivalents that do not otherwise qualify as floating rate debt; and other investment companies including money market funds and ETFs (other than ETFs that invest primarily in floating rate assets). Additionally, the Fund may receive equity securities from capital restructurings related to the floating rate instruments in which it invests. The Fund may sell or hold the equity securities received incidental to these investments for a period of time depending on market conditions. The Funds portfolio may be focused on a limited number of industries, asset classes, countries or issuers.
In constructing the Funds portfolio, the Funds sub-advisor, CIFC Investment Management LLC (the Sub-Advisor), uses a bottom-up approach that seeks to identify instruments that it believes are either mispriced relative to their risk or have a likelihood of near-term price appreciation. In addition, the Sub-Advisor seeks opportunities that generate income and have profit potential while managing default risk. In its assessment of individual instruments, the Sub-Advisor utilizes a disciplined approach that focuses on credit fundamentals, relative value, and active risk management. The Sub-Advisor monitors the Funds investments on an ongoing basis and sells an investment when the value of the investment relative to its risk profile no longer meets the Sub-Advisors criteria for inclusion in the portfolio or when a more attractive investment becomes available.
The Sub-Advisor also may implement a hedging strategy, when deemed appropriate to reduce risk of loss, that utilizes short sales and derivative instruments, including futures contracts, options, swap contracts, and options on futures and swap contracts. In particular, the Fund may take short positions, or obtain short exposure through derivatives, in U.S. Treasury bonds.
Period | CFRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.7% | N/A | N/A | N/A |
1 Yr | 9.4% | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Period | CFRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
Period | CFRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.7% | N/A | N/A | N/A |
1 Yr | 9.4% | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Period | CFRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
CFRFX | Category Low | Category High | CFRFX % Rank | |
---|---|---|---|---|
Net Assets | 391 M | N/A | N/A | N/A |
Number of Holdings | 329 | N/A | N/A | N/A |
Net Assets in Top 10 | 104 M | N/A | N/A | N/A |
Weighting of Top 10 | 20.47% | N/A | N/A | N/A |
Weighting | Return Low | Return High | CFRFX % Rank | |
---|---|---|---|---|
Bonds | 95.34% | N/A | N/A | N/A |
Cash | 8.76% | N/A | N/A | N/A |
Stocks | 3.07% | N/A | N/A | N/A |
Preferred Stocks | 0.00% | N/A | N/A | N/A |
Other | 0.00% | N/A | N/A | N/A |
Convertible Bonds | 0.00% | N/A | N/A | N/A |
Weighting | Return Low | Return High | CFRFX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | N/A | N/A | N/A |
Technology | 0.00% | N/A | N/A | N/A |
Real Estate | 0.00% | N/A | N/A | N/A |
Industrials | 0.00% | N/A | N/A | N/A |
Healthcare | 0.00% | N/A | N/A | N/A |
Financial Services | 0.00% | N/A | N/A | N/A |
Energy | 0.00% | N/A | N/A | N/A |
Communication Services | 0.00% | N/A | N/A | N/A |
Consumer Defense | 0.00% | N/A | N/A | N/A |
Consumer Cyclical | 0.00% | N/A | N/A | N/A |
Basic Materials | 0.00% | N/A | N/A | N/A |
Weighting | Return Low | Return High | CFRFX % Rank | |
---|---|---|---|---|
US | 3.07% | N/A | N/A | N/A |
Non US | 0.00% | N/A | N/A | N/A |
Weighting | Return Low | Return High | CFRFX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 8.76% | N/A | N/A | N/A |
Derivative | 0.00% | N/A | N/A | N/A |
Securitized | 0.00% | N/A | N/A | N/A |
Corporate | 0.00% | N/A | N/A | N/A |
Municipal | 0.00% | N/A | N/A | N/A |
Government | 0.00% | N/A | N/A | N/A |
Weighting | Return Low | Return High | CFRFX % Rank | |
---|---|---|---|---|
US | 95.34% | N/A | N/A | N/A |
Non US | 0.00% | N/A | N/A | N/A |
CFRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.25% | N/A | N/A | N/A |
Management Fee | 1.00% | N/A | N/A | N/A |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | N/A | N/A | N/A | N/A |
CFRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
CFRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
CFRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
CFRFX | Category Low | Category High | CFRFX % Rank | |
---|---|---|---|---|
Dividend Yield | 6.64% | N/A | N/A | N/A |
CFRFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly |
CFRFX | Category Low | Category High | CFRFX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
CFRFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Date | Amount | Type |
---|---|---|
Nov 29, 2024 | $0.051 | OrdinaryDividend |
Oct 31, 2024 | $0.057 | OrdinaryDividend |
Sep 30, 2024 | $0.057 | OrdinaryDividend |
Aug 30, 2024 | $0.057 | OrdinaryDividend |
Jul 31, 2024 | $0.064 | OrdinaryDividend |
Mar 28, 2024 | $0.053 | OrdinaryDividend |
Feb 29, 2024 | $0.058 | OrdinaryDividend |
Jan 31, 2024 | $0.063 | OrdinaryDividend |
Dec 29, 2023 | $0.068 | OrdinaryDividend |
Nov 30, 2023 | $0.058 | OrdinaryDividend |
Oct 31, 2023 | $0.062 | OrdinaryDividend |
Sep 29, 2023 | $0.057 | OrdinaryDividend |
Aug 31, 2023 | $0.065 | OrdinaryDividend |
Jul 31, 2023 | $0.058 | OrdinaryDividend |
Jun 30, 2023 | $0.061 | OrdinaryDividend |
May 31, 2023 | $0.064 | OrdinaryDividend |
Apr 28, 2023 | $0.055 | OrdinaryDividend |
Mar 31, 2023 | $0.058 | OrdinaryDividend |
Feb 28, 2023 | $0.002 | OrdinaryDividend |
Jan 31, 2023 | $0.002 | OrdinaryDividend |
Dec 30, 2022 | $0.060 | OrdinaryDividend |
Nov 30, 2022 | $0.044 | OrdinaryDividend |
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