Aristotle Floating Rate Income Fund Class I (PLFRX)
Aristotle Floating Rate Income Fund Class I operates in the Asset Management - Income industry of the Financial Services sector, headquartered in Newport Beach, CA, US. The stock last traded at $9.26, up 0.00% on the session, giving a market capitalisation of $3.81B. Its beta of 0.05 implies it has historically moved less than the broad market.
The primary objective of this fund is to achieve a substantial level of current income. It accomplishes this by investing predominantly in income-generating floating rate loans and other floating rate debt instruments. Typically, at least four-fifths (80%) of the fund's assets are committed to these specific types of floating rate securities under normal market conditions. A portion, up to 25% of its total assets, may be directed towards foreign investments denominated in U.S. dollars, primarily originating from developed economies. Furthermore, the fund possesses the latitude to allocate as much as 20% of its holdings to diverse debt instruments or securities, which includes non-investment grade debt, commonly referred to as high-yield or "junk bonds" due to their elevated risk profile.
Aristotle Floating Rate Income Fund Class I is most often compared with the following Financial Services names: