SBL's Series F targets floating-rate investments, plans April launch

By Toni Weeks

San Luis Obispo, Calif., Feb. 6 - SBL Fund announced plans to offer its new Series F Floating Rate Strategies Series, according to an N-1A filing with the Securities and Exchange Commission.

Series F will seek to provide a high level of current income while maximizing total return by investing at least 80% of its assets, plus the amount of any borrowings for investment purposes, 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.

The fund will typically invest in dollar-denominated loans and securities but may also invest in securities of non-U.S. companies as well as in loans and securities denominated in other currencies, including those of emerging markets.

B. Scott Minerd, Michael P. Damaso, Anne B. Walsh, Kevin H. Gundersen and James W. Michal will be the primary portfolio managers.

There will be no shareholder fees. Management fees will run 0.65%, and total annual fund operating expenses are estimated at 1.15%.

Santa Monica, Calif.-based Guggenheim Partners Investment Management, LLC will serve as the investment adviser.

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