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Victory Floating Rate A RSFLX

Analyst rating as of
NAV / 1-Day Return
9.39  /  0.10 %
Total Assets
1.5 Bil
Adj. Expense Ratio
1.000%
Expense Ratio
1.000%
Fee Level
Below Average
Longest Manager Tenure
8.03 years
Category
Bank Loan
Credit Quality / Interest Rate Sensitivity
Low / Limited
Min. Initial Investment
2,500
Status
Open
TTM Yield
4.77%
Effective Duration
0.57 years
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Morningstar’s Analysis

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Manager Departures at Victory Floating Rate Do Not Change Its Rating

Associate Director

Analyst Note

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On March 18, 2021, Victory Floating Rate Fund lost two of its longtime managers: Kevin Booth and Paul Gillin. The fund is managed by Park Avenue Investment Advisors, a subsidiary of Guardian Life Insurance. The official reason for their departure was retirement. Booth had managed the strategy since 2010 and was in charge of the advisor’s high-yield and bank-loan effort; Gillin started on the fund’s management team in 2014.

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