Virtus Seix Floating Rate High Income Fund Class I (SAMBX)
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Virtus Seix Floating Rate High Income Fund Class I Profile
| NASDAQ Exchange | United States Country |
Overview
This financial entity is designed for investors seeking exposure to senior floating rate loans and other floating rate debt instruments. Leveraging a strategy that primarily focuses on first- and second-lien senior floating rate loans, the fund commits at least 80% of its net assets (including any borrowings for investment purposes) towards such assets. A distinctive aspect of its investment approach is the allowance of up to 20% of its total assets to be invested in senior loans to non-U.S. borrowers. However, it restricts its investment in non-U.S. dollar denominated loans to a maximum of 5% of the portfolio, emphasizing its cautious approach to currency risk.
Products and Services
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First- and Second-Lien Senior Floating Rate Loans:
These are the cornerstone of the fund's investments, consisting of loans that have a floating interest rate component, which typically adjusts according to benchmark interest rates. First-lien loans have the highest priority in case of a borrower's default, while second-lien loans are next in line, offering potentially higher yields in exchange for more risk.
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Other Floating Rate Debt Instruments:
In addition to senior floating rate loans, the fund invests in a diverse range of other floating rate debt instruments. This can include, but is not limited to, floating rate bonds, notes, and other financial instruments that have interest rates which adjust over time. This diversification helps manage risk while seeking to capitalize on interest rate movements.
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Investment in Senior Loans Made to Non-U.S. Borrowers:
Up to 20% of the fund's total assets may be allocated to senior loans made to borrowers outside of the United States, providing a global exposure. Nevertheless, to mitigate the risk associated with currency fluctuations, the fund restricts its exposure to non-U.S. dollar denominated loans to no more than 5% of its investment portfolio, thereby offering a measured approach to international lending.
