The Process Pillar is our assessment of how sensible, clearly defined, and repeatable RSFLX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the RSFLX 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 RSFLX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Some questions remain.
River Meng
Associate Analyst
Summary
A recent flurry of turnover on the Pioneer credit-analyst team supporting Victory Floating Rate limits our conviction in this established approach.