Fixed Income

BGT

Floating Rate Income Trust

Overview

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Performance

Performance

  • Returns

  2011 2012 2013 2014 2015
NAV Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. 1.97 14.98 8.40 2.90 2.35
Market Price Total Return (%) Market price return represents changes to the fund’s closing market price on its primary exchange and accounts for distributions from the fund. -12.15 20.30 -1.37 -2.03 3.11

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.


Returns are shown net of advisory fees paid by the fund and net of the fund’s operating fees and expenses. Investors who purchase shares of the fund through an investment adviser or other financial professional may separately pay a fee to that service provider. Past performance is not indicative of future results.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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Distributions

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Key Facts

Key Facts

Net Assets as of 27-Sep-2016 $339,799,999
Managed Assets 481,799,999.33
Share Class launch date 30-Aug-2004
Exchange New York Stock Exchange Inc.
Asset Class Fixed Income
Morningstar Category Bank Loan
Lipper Classification Loan Participation Funds
CUSIP 091941104
Management Fee 1.03%
Gross Expense Ratio 1.55%
Shares Outstanding as of 27-Sep-2016 23,663,232
Number of Holdings as of 31-Aug-2016 500
3m Avg Volume as of 31-Aug-2016 61,520.00

Portfolio Characteristics

Portfolio Characteristics

Ratings

Ratings

Morningstar Rating

Overall Morningstar Rating for Floating Rate Income Trust as of 31-Aug-2016 rated against 25 Bank Loan Funds.

Holdings

Holdings

as of 31-Aug-2016
Name Weight (%)
LEVEL 3 FINANCING INC 2.25
FIRST DATA CORPORATION 2.23
AVAGO TECHNOLOGIES CAYMAN HOLDINGS LTD 1.71
DAVITA HEALTHCARE PARTNERS INC 1.61
VALEANT PHARMACEUTICALS INTERNATIONAL INC 1.29
Name Weight (%)
SERVICEMASTER COMPANY LLC 1.28
CHARTER COMMUNICATIONS OPERATING LLC 1.28
USAGM HOLDCO LLC 1.26
TRANS UNION LLC 1.25
CAESARS ENTERTAINMENT RESORT PROPERTIES LLC 1.24

Exposure Breakdowns

Exposure Breakdowns

as of 31-Aug-2016

% of Market Value Based on Managed Assets

as of 31-Aug-2016

% of Market Value Based on Managed Assets

Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 31-Aug-2016

% of Market Value Based on Managed Assets

as of 31-Aug-2016

% of Market Value Based on Managed Assets

as of 31-Aug-2016

% of Market Value Based on Managed Assets

as of 31-Aug-2016

% of Market Value Based on Managed Assets

as of 31-Aug-2016

% of Market Value Based on Managed Assets

The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Joshua Tarnow
Managing Director, Portfolio Manager
C. Adrian Marshall
Managing Director
James Keenan
Managing Director, Global Head of Fundamental Credit
Portfolio Manager

Literature

Literature