The fund invests at least 80 % of assets in floating rate loans, which are often lower - quality debt securities, and other floating rate securities. (mutualfunds.com)
While the prospectus allows a wide range of investments, the core of the portfolio has been short - term high yield bonds, secured floating rate loans and cash. (mutualfundobserver.com)
Banks make floating rate loans to companies that are financially troubled, and the yields adjust up frequently when interest rates are rising. (chicagotribune.com)