Senior Floating Rate Fund


Updated July 02, 2020


Seeks a high level of current income, consistent with prudent investment management

Primary Portfolio

Senior secured floating rate loans



Fund Overview

Income and diversification potential

Bank loans, which offer a floating rate of income, may provide a hedge against rising rates. This actively managed portfolio of senior secured floating rate loans is designed to provide attractive risk-adjusted return potential, with a higher quality orientation.

Why Invest In This Fund

An attractive risk/return profile

Floating rate bank loans, made to below- investment-grade companies, offer higher-return potential credit than investment grade bonds, and tend to have lower volatility than high yield bonds. The fund emphasizes higher-quality loans, which typically have a higher recovery rate and lower risk of default than lower-quality, unsecured debt.

Minimal interest rate exposure

Because rates on bank loans typically float, or shift to prevailing interest rates, they may provide a hedge in a rising rate environment, as well as an opportunity to enhance returns with increased credit exposure.

Time-tested management expertise

PIMCO has managed floating rate bank loans portfolios since 1997. Our process, which combines bottom-up security selection, robust credit research and our long-term global outlook, provides an informed framework for positioning the portfolio across the credit cycle.

Our Expertise

PIMCO has been a pioneer in fixed income investing for four decades. Our time-tested investment process combines our informed, top-down global economic outlook with rigorous bottom-up credit research and risk management, allowing the fund’s investment professionals to focus on what they do best: seeking attractive risk-adjusted returns for investors.


J.P. Morgan BB/B Leveraged Loan Index


The J.P. Morgan BB/B Leveraged Loan Index is a subset of the broader Leveraged Loan Index, and as such follows all of the same inclusion rules, loan selection methodology and the rebalance process, with the sole exception being the tranche rating criteria.


Monthly with Daily Accrual






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David Forgash and Michael Levinson began managing the fund on 30 March 2020.

David Forgash

Head of Leveraged Loan Portfolio Management

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Michael Levinson

Portfolio Manager, Leveraged Finance

View Profile for Michael Levinson

Yields & Distributions