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SBL Fund's new Series F invests in floating-rate loans via Guggenheim
By Toni Weeks
San Luis Obispo, Calif., April 19 - SBL Fund announced it will launch on Monday a new fund that invests in floating-rate loans, according to an N-1A filing with the Securities and Exchange Commission.
The Series F (Floating Rate Strategies Series) will seek to provide a high level of current income while maximizing total return. It will normally invest at least 80% of its assets in floating-rate senior secured syndicated bank loans, floating-rate revolving credit facilities, floating-rate unsecured loans, floating-rate asset-backed securities and other floating-rate bonds, loans, notes and securities.
B. Scott Minerd, Michael P. Damaso, Anne B. Walsh, Kevin H. Gundersen and James W. Michal comprise the portfolio management team.
There are no shareholder fees. Including management fees of 0.65% and taking into account a fee waiver agreement with the investment adviser, total annual fund operating expenses are expected to run 1.15%.
Shares of the fund are purchased primarily by insurance companies for their separate accounts to fund variable life insurance variable annuity contracts.
Santa Monica, Calif.-based Guggenheim Partners Investment Management, LLC is the investment manager.
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