OppenheimerFunds launches Oppenheimer Senior Floating Rate Plus Fund

By Tali David

Minneapolis, Aug. 26 - OppenheimerFunds announced the extension of its senior loan investing franchise with the launch of the Oppenheimer Senior Floating Rate Plus Fund, according to a notice.

The fund is an actively managed fund that offers investors access to the same experienced team as the firm's original Senior Floating Rate Fund.

The Senior Floating Rate Plus Fund will invest primarily in senior loans; however, the fund will be different in that it will have the added flexibility to include high-yield bonds and employ leverage. The Senior Floating Rate Fund will continue to be managed with the same product purity focus as has been the case since its 1999 inception, the release said.

"Our flagship Senior Floating Rate Fund has thrived since its inception 14 years ago. We are now taking that same experienced team and giving them added flexibility to take advantage of the current market environment through high yield bonds and increased return potential via leverage. We believe the new SFR PLUS fund will be attractive to investors seeking higher potential income opportunities in their portfolios," chief investment officer of fixed income Krishna Memani said in the release.

Like the original Senior Floating Rate Fund, the Senior Floating Rate Plus Fund will use a security-by-security focus that attempts to identify the most attractively valued opportunities in the senior loan market, commensurate with risk.

Risk is further managed through the team's focus on diversifying across industries and individual holdings. Unique to the new Senior Floating Rate Plus Fund will be enhanced return potential created through the ability to invest in high-yield bonds and the use of leverage, the company said.

OppenheimerFunds is based in Denver.

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