The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FTSL’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the FTSL management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of FTSL’s parent organization’s priorities and whether they’re in line with investors’ interests.
Defensive play isn’t always the best.
Saraja Samant
Analyst
Summary
First Trust Senior Loan’s conservative approach shows its value in turbulence but not enough to reward investors over the long term.