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Feb. 15, 2013, 12:24 PMInflows into leveraged loan funds hit another record last week, according to BAML, $1.5B vs. $1.3B the previous week. This paper - often created in the process of LBOs - is higher up in the capital structure than other debt and typically variable-rate. An ETF: BKLN. Closed-end funds: PHD, [JFR, EFR, EFT, JRO. | Comment!
Dec. 16, 2012, 9:10 AMYield starved investors are not without hope, says Jim Grant, suggesting (the 9 min. mark) two BDCs - Ares Capital (ARCC) and Golub Capital (GBDC) - both of whom had very good credit experience even in the last brutal cycle. Also consider leveraged loan funds - yes, they invest in leveraged companies, but they have the senior-most claims, and the loans performed well even during 2007-09. Andrew Boral has a nice article describing a few. | 4 Comments
EFR vs. ETF Alternatives
The investment objective is to provide a high level of current income, with a secondary objective of capital preservation. Under normal market conditions, a duration of less than one year is expected. It pursues its objectives by investing primarily in Sen
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