Nuveen Asset Management Provides Senior Loan Update
17 Janvier 2022 - 10:03PM
(TSX: SSF.UN) Investors and investment advisors
are invited to listen to a webinar, hosted by Larry Holzenthaler,
Investment Strategist, Nuveen Asset Management (“NAM”). Mr.
Holzenthaler discusses some of the recent trends in the U.S. senior
loan market and explains why NAM believes loan fundamentals remain
positive. The presentation, recorded on January 13, 2022, can be
viewed by clicking the following link:
Senior Loan Market Update - January 2022
Symphony Floating Rate Senior Loan Fund (the
“Fund”) invests primarily in floating-rate senior loans, which are
the most senior corporate obligations of a borrower and are secured
by the borrower’s assets. Senior loans have a first-priority
secured claim on repayment, ahead of bonds and equity. Senior loans
offer a high level of income and low interest rate risk compared to
traditional fixed income asset classes. Symphony believes that
senior loan credit fundamentals remain strong as the U.S. economy
continues to recover and corporate default rates are expected to
remain low.
The Fund offers a $0.48 per unit per annum
distribution on its class A shares, paid monthly, which represents
a cash distribution rate of 6.1% per annum based on the January 14,
2022 TSX closing price. The Fund is available for purchase on the
Toronto Stock Exchange under the ticker symbol SSF.UN.
About Brompton Funds Founded in
2000, Brompton is an experienced investment fund manager with
income focused investment solutions including TSX traded closed-end
funds and exchange-traded funds. For further information, please
contact your investment advisor, call Brompton’s investor relations
line at 416-642-6000 (toll-free at 1-866-642-6001), email
info@bromptongroup.com or visit our website at
www.bromptongroup.com.
About Nuveen Asset
ManagementNuveen Asset Management, LLC (“NAM”), is the is
the sub-advisor for the Symphony Floating Rate Senior Loan Fund.
NAM specializes in the management of debt and equity strategies
including senior loan portfolios. NAM, a registered investment
adviser, has been in business for over thirty years and had an
aggregate of U.S. $274.4 billion of assets under management as of
November 30, 2021. NAM is an indirect subsidiary of Nuveen, LLC
which is a subsidiary of Teachers Insurance and Annuity Association
of America.
Annual Performance1 |
1-Yr |
3-Yr |
5-Yr |
10-Yr |
S.I.2 |
S.I.3 |
Symphony Floating Rate Senior Loan Fund – Class A |
13.9% |
5.7% |
3.9% |
5.4% |
5.4% |
|
Symphony Floating Rate Senior Loan Fund – Class C |
19.5% |
7.6% |
|
|
|
4.9% |
Symphony Floating Rate Senior Loan Fund – Class F |
16.3% |
6.3% |
|
|
|
4.3% |
Symphony Floating Rate Senior Loan Fund – Class U |
13.5% |
6.1% |
4.3% |
5.4% |
5.3% |
|
(1) Returns are for the periods ended December
31, 2021 and are unaudited. The table shows the Fund’s compound
returns for each period indicated.(2) Inception Date: November 1,
2011(3) Inception Date: January 10, 2017
You will usually pay brokerage fees to your
dealer if you purchase or sell units of the investment fund on the
Toronto Stock Exchange or other alternative Canadian trading system
(an “exchange”). If the units are purchased or sold on an exchange,
investors may pay more than the current net asset value when buying
units of the investment fund and may receive less than the current
net asset value when selling them.
There are ongoing fees and expenses associated
with owning units of an investment fund. An investment fund must
prepare disclosure documents that contain key information about the
Fund. You can find more detailed information about the Fund in the
public filings available at www.sedar.com. The indicated rates of
return are the historical annual compounded total returns including
changes in the unit value and reinvestment of all distributions and
do not take into account certain fees such as redemption costs or
income taxes payable by any securityholder that would have reduced
returns. Investment funds are not guaranteed, their values
change frequently and past performance may not be repeated. The
amount of distributions may fluctuate from month to month and there
can be no assurance that the Fund will make any distribution in
anyparticular month.
Certain statements contained in this news
release constitute forward-looking information within the meaning
of Canadian securities laws. Forward-looking information may relate
to matters disclosed in this press release and to other matters
identified in public filings relating to the Fund, to the future
outlook of the Fund and anticipated events or results and may
include statements regarding the future financial performance of
the Fund. In some cases, forward-looking information can be
identified by terms such as “may”, “will”, “should”, “expect”,
“plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”,
“potential”, “continue” or other similar expressions concerning
matters that are not historical facts. Actual results may vary from
such forward-looking information. Investors should not
place undue reliance on forward-looking statements. These
forward-looking statements are made as of the date hereof and we
assume no obligation to update or revise them to reflect new events
or circumstances.
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