Inflows 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.
The investment objective is to achieve a high level of current income. At least 80% of its assets will be invested in adjustable rate secured senior loans and adjustable rate unsecured senior loans. At least 65% of its assets will be invested in senior loa