Best Performing Bank Loan Closed End Funds June 2013

Discover best performing bank loan closed end funds June 2013. Check the CEFs performance. The top funds are Invesco Senior Income Trust fund, LMP Corporate Loan Fund, Nuveen Floating Rate Income Opportunities fund, etc.

Bank Loan Funds

Bank loan funds are investing mainly in floating rate bank loans taken on by corporations. These funds are also known as floating rate funds. The fund may provide high yield income for investors. Typically, the funds have very little interest-rate risk. The big risk with bank loan funds is default by the borrowers.

The top performing list is sorted based on its performance for the past 1 year. You can find the fund review, performance, expense ratio, dividend yield, fund’s NAV, management, leverage, fund’s sponsor, premium/discount info, etc.

Best Performing CEFs

The 20 best performing bank loan closed end funds June 2013 are:
Best Performing Bank Loan CEFs image
Top Funds
  1. Invesco Senior Income Trust (VVR)
  2. LMP Corporate Loan Fund Inc (TLI)
  3. Nuveen Floating Rate Income Opportunities (JRO)
  4. Invesco Dynamic Credit Opportunities (VTA)
  5. ING Prime Rate Trust (PPR)
  6. Nuveen Floating Rate Income Fund (JFR)
  7. Nuveen Credit Strategies Income Fund (JQC)
  8. BlackRock Floating Rate Income Strategies Fund, Inc (FRA)
  9. Apollo Senior Float Rate Fund Inc (AFT)
  10. Nuveen Senior Income Fund (NSL)
  11. Eaton Vance Senior Income Trust (EVF)
  12. Nuveen Short Duration Credit Opportunities Fund (JSD)
  13. BlackRock Defined Opportunity Credit Trust (BHL)
  14. Pioneer Floating Rate Trust (PHD)
  15. Blackstone/GSO Long-Short Credit Income Fund (BGX)
  16. First Trust Senior Floating Rate Income Fund II (FCT)
  17. BlackRock Floating Rate Income Trust (BGT)
  18. Eaton Vance Senior Floating-Rate Trust (EFR)
  19. Eaton Vance Floating-Rate Income Trust (EFT)
  20. Blackstone/GSO Senior Floating Rate Term Fund (BSL)
Updated on June 25, 2013

Invesco Senior Income Trust (VVR)

Invesco Senior Income Trust fund profileScott Baskind, Tom Ewald and Philip Yarrow are the portfolio managers of this Invesco fund. This closed end fund is currently traded at premium 2.48% from its NAV. The distribution yield is 6.23% per year. It also has 2.06% annual expense ratio. The total net assets are $947.1 million.
Invesco Van Kampen Senior Income fund invests mainly in floating and variable senior loans. This VVR fund has YTD return of 6.75%. The 5-year annualized return is 5.18% and the 10-year annualized return is 4.01%.

As of March 2013, this bank loan fund has a total of 483 holdings. The top 3 holdings are Clear Channel Communications I Term Loan (2.14%), Harrahs Operating Co Inc B (1.73%) and Kinetic Concepts Inc Term Loan C (1.31%). The top sectors are Health Care (8.30%) and Telecommunications (7.91%).

LMP Corporate Loan Fund (TLI)

This top performing bank loan CEF has total net assets of $195.1 million. The annual expense ratio is 1.83%. It is currently traded at 2.30% from its NAV. The annualized total return since inception is 6.21%. The 10-year total return is 6.55%. LMP Corporate Loan Fund objective is to provide income and capital preservation.

The top 3 bond holdings of this TLI fund are Barclays Capital Inc (5.17%), State Street Bank & Trust Co (1.50%), Cengage Learning Acquisitions Inc (1.19%) and Hca Inc (1.16%). The top sectors are Debt-Senior Loans (88.18%) and Debt-Short (11.57%). The top industries as of March 2013 are Consumer Non Cyclical (27.0%), Consumer Cyclical (16.20%) and Communications (12.30%).

Nuveen Floating Rate Income Opportunities (JRO)

Nuveen Floating Rate Income Opportunities fund profile
JRO fund
The Nuveen Floating Rate Income Opportunities fund’s objective is to get a high level of current income. It invests >80% of the assets in adjustable rate loans. The loans are primarily senior loans, although it also may include unsecured senior loans and secured and unsecured subordinated loans. The fund’s managers are Gunther Stein and Scott Caraher. It has 28.16% of effective leverage and 1.75% of annual expense ratio. It has 8.02% of YTD return.

The top 3 holdings as of April 2013 are CC Media Holdings I (3.7%), US Foodservice (2.2%) and H.J. Heinz Company (2.1%). The fund has a total of 259 holdings. It has 5.51 years of effective maturity. The top industries are Media (10.1%), Health Care Providers & Services (8.1%) and Software (8.0%).

Invesco Dynamic Credit Opportunities (VTA)

This Invesco Dynamic Credit Opportunities fund was introduced to investors in June 2007. The fund’s CUSIP is 46132R104. The fund managers are Scott Baskind and Philip Yarrow. This bank loan fund is currently traded at 2.84% discount from its NAV. It has distribution rate of 6.92%. The fund also has 2.09% of annual expense ratio. It has 7.24% YTD return in June 2013. The fund has returned 27.26% in 2012 and -6.54% in 2011.

The top 5 sectors as of March 2013 are Health Care (7.44%), Telecommunications (7.16%), Business Equipment & Service (6.10%), Radio & Television (6.09%) and Cable & Satellite Television (6.03%). The fund also has 478 of total holdings.

ING Prime Rate Trust (PPR)

ING Prime Rate Trust fund profile
PPR fund
The objective of this ING Prime Rate Trust fund is to achieve a high level of current income, consistent with preservation of capital. This taxable bond fund utilizes its assets to purchase U.S. dollar denominated, floating rate and secured senior loans. It uses the leverage to enhance the return potential. Dan Norman and Jeff Bakalar are the current fund managers. It has 2.14% of annual expense ratio. The effective leverage is 29.49%. The fund has total net assets of $1,269.9 million.

As of April 2013, the top holdings are Univision Communications Inc (2.36%), BJs Wholesale Club (1.96%), Texas Competitive Electric Holdings Company LLC (1.79%) and Reynolds Group Holdings Inc (1.69%). It has weighted average maturity of 46.60 years.

Bank Loan Fund Information

NoFund Description (Ticker)1 Year Return %Lipper RankPremium/DiscountExpense RatioYield %
1Invesco Senior Income Tr (VVR)24.16%112.48%2.06%6.23%
2LMP Corporate Loan (TLI)22.95%162.30%1.88%6.31%
3Nuveen Float Rt Inc Opp (JRO)19.93%151.75%1.79%7.80%
4Invesco Dyn Cred Opps (VTA)21.27%22-2.84%2.09%6.67%
5ING Prime Rate Trust (PPR)24.74%64.59%2.14%6.53%
6Nuveen Float Rate Inc (JFR)20.46%29-1.43%1.78%7.43%
7Nuveen Credit Strat Inc (JQC)19.02%37-2.66%1.86%7.66%
8BlackRock Flt Rt Inc (FRA)19.08%320.90%1.63%6.49%
9Apollo Senior Float Rate (AFT)20.40%272.78%3.18%6.95%
10Nuveen Senior Income (NSL)17.23%532.41%1.86%7.00%
11Eaton Vance Senior Inc (EVF)17.73%430.67%2.24%6.30%
12Nuveen Sht Dur Crdt Opp (JSD)17.27%480.75%1.78%7.96%
13BlackRock Def Opp Credit (BHL)15.09%58-2.27%1.96%5.78%
14Pioneer Floating Rate Tr (PHD)13.06%740.98%1.58%6.50%
15Blackstone/GSO LS Cr Inc (BGX)14.92%64-0.88%1.82%7.19%
16First Tr Sr Fltg RI II (FCT)12.30%79-1.40%1.82%6.31%
17BlackRock Fltg Rate Inc (BGT)13.45%692.43%1.61%6.66%
18Eaton Vance Sen Flt-Rt (EFR)12.27%850.31%1.80%6.24%
19Eaton Vance Flt-Rt Inc (EFT)11.06%95-0.98%1.95%6.06%
20Blackstone/GSO Sr Flt Rt (BSL)12.04%902.11%2.78%6.53%


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