World News: 19:55 GMT Friday 11th January 2019. [Symphony Floating Rate Senior Loan Fund via Globe Newswire via SPi World News]
TORONTO, Jan. 11, 2019 (GLOBE NEWSWIRE) -- Investors and investment advisors are invited to listen to a recorded update call, hosted by Larry Holzenthaler, Investment Strategist, of Symphony Asset Management (“Symphony”). Symphony discusses some of the recent trends in the U.S. senior loan and high yield markets and explains why they believe loan fundamentals remain strong. The presentation, recorded on January 9, 2019, has been posted to the Brompton Funds website at the following link:
Symphony Floating Rate Senior Loan Fund (the “Fund”) invests primarily in floating-rate senior loans, which are the most senior corporate obligations of a borrower, and are secured by the borrower’s assets. Senior loans have a first-priority secured claim on repayment, ahead of bonds and equity. Senior Loans offer a high level of income and low interest rate risk compared to traditional fixed income asset classes. Symphony believes that senior loan credit fundamentals remain strong as U.S. economic growth remains intact and corporate default rates are expected to remain low.
The Fund offers a $0.60 per unit per annum distribution, paid monthly, which represents a cash distribution rate of 7.2% per annum based on the January 10, 2019 TSX closing price. The Fund is available for purchase on the Toronto Stock Exchange under the ticker symbol SSF.UN.
Globe Newswire: 19:55 GMT Friday 11th January 2019
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