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AFRCX Invesco Floating Rate C

  • Fund
  • AFRCX
  • Price as of: Sep 18, 2018
  • $7.55
  • - $0.00
  • - 0.00%
  • Category
  • Bank Loan

AFRCX - Profile

Vitals

  • YTD Return 0.1%
  • 3 Yr Annualized Return 4.1%
  • 5 Yr Annualized Return 3.0%
  • Net Assets $2.55 B
  • Holdings in Top 10 10.1%

52 WEEK LOW AND HIGH

$7.55
$7.51
$7.59

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.57%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 68.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$250

Investment Themes

CATEGORY

Bank Loan
  • Fund Type Open End Mutual Fund
  • Investment Style Bank Loan

Distributions

  • YTD Total Return 0.1%
  • 3 Yr Annualized Total Return 4.1%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.55%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Invesco Floating Rate Fund
  • Fund Family Name Invesco
  • Inception Date Mar 31, 2000
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Scott Baskind

Fund Description

The fund invests under normal circumstances at least 80% of its net assets (plus any borrowings for investment purposes) in senior secured floating rate loans made by banks and other lending institutions and in senior secured floating rate debt instruments, and in derivatives and other instruments that have economic characteristics similar to such securities. It may use leverage in an effort to maximize its return through borrowing, generally from banks, in an amount of up to 33 1/3% of the fund's total assets after such borrowing.

AFRCX - Performance

Return Ranking - Trailing

Period AFRCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.1% -1.8% 4.4% 26.07% 2
1 Yr 4.0% -1.0% 12.4% 55.66% 3
3 Yr 4.1% * 0.2% 6.1% 48.56% 3
5 Yr 3.0% * 0.6% 5.8% 70.16% 4
10 Yr 3.8% * 0.3% 6.7% 74.77% 4

* Annualized


Return Ranking - Calendar

Period AFRCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 0.0% -5.3% 6.5% 25.71% 2
2016 6.0% -12.2% 7.9% 19.32% 2
2015 -7.5% -10.4% 0.0% 63.29% 5
2014 -3.4% -6.9% 12.5% 39.22% 3
2013 1.7% -1.3% 11.2% 12.50% 1

Total Return Ranking - Trailing

Period AFRCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.1% -100.0% 4.4% 25.59% 2
1 Yr 3.0% -1.6% 12.4% 53.77% 3
3 Yr 4.1% * 0.3% 6.1% 38.94% 2
5 Yr 3.0% * 0.6% 5.8% 59.16% 3
10 Yr 3.8% * 0.3% 6.7% 69.37% 4

* Annualized


Total Return Ranking - Calendar

Period AFRCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 0.0% -5.3% 6.5% 26.19% 2
2016 6.0% -12.2% 10.8% 29.95% 2
2015 -7.5% -8.8% 2.9% 66.18% 5
2014 -3.4% -6.9% 12.5% 53.43% 4
2013 1.7% -1.3% 11.2% 21.02% 2

NAV & Total Return History

AFRCX - Holdings

Filings data as of: Jun 30, 2018

Concentration Analysis

AFRCX Category Low Category High AFRCX % Rank Quintile
Net Assets 2.55 B 51.6 M 15.4 B 10.38% 2
Number of Holdings 742 103 1866 2.83% 1
Net Assets in Top 10 279 M -331 M 1.98 B 12.26% 3
Weighting of Top 10 10.1% 5.0% 224.2% 18.40% 3

Top 10 Holdings

  1. Stit Treasury Portfolio Invesc 2.52%
  2. Fieldwood Energy Llc Lc Facility 1.00%
  3. First Data Corporation 2024 Usd Term Loan 0.96%
  4. Transdigm, Inc. 2018 Term Loan F 0.90%
  5. Sinclair Television Group Inc. 2017 Term Loan B 0.84%
  6. Jbs Usa, Llc 2017 Term Loan B 0.83%
  7. Caesars Resort Collection, Llc 2017 1st Lien Term Loan B 0.81%
  8. Asurion Llc 2018 Term Loan B6 0.78%
  9. Upc Financing Partnership Usd Term Loan Ar 0.78%
  10. Centurylink, Inc. 2017 Term Loan B 0.74%

Asset Allocation

Weighting Category Low Category High AFRCX % Rank Quintile
Bonds
89.72% 5.65% 103.37% 25.00% 5
Cash
5.26% -7.89% 87.26% 15.57% 3
Other
3.85% -2.43% 59.34% 4.72% 1
Stocks
1.17% 0.00% 8.49% 6.60% 1
Preferred Stocks
0.00% 0.00% 0.57% 7.08% 5
Convertible Bonds
0.00% 0.00% 6.79% 8.49% 5

Stock Sector Breakdown

Weighting Category Low Category High AFRCX % Rank Quintile
Utilities
0.35% 0.00% 0.43% 1.09% 1
Energy
0.33% 0.00% 1.33% 3.28% 1
Basic Materials
0.16% 0.00% 1.72% 7.65% 2
Consumer Cyclical
0.13% 0.00% 0.85% 7.10% 2
Industrials
0.06% 0.00% 0.65% 6.01% 2
Communication Services
0.01% 0.00% 0.13% 3.28% 1
Technology
0.00% 0.00% 0.06% 1.09% 5
Real Estate
0.00% 0.00% 0.61% 5.46% 5
Healthcare
0.00% 0.00% 0.09% 1.64% 5
Financial Services
0.00% 0.00% 1.04% 3.83% 5
Consumer Defense
0.00% 0.00% 0.13% 3.83% 5

Stock Geographic Breakdown

Weighting Category Low Category High AFRCX % Rank Quintile
US
0.89% 0.00% 8.49% 7.08% 2
Non US
0.28% 0.00% 1.01% 2.36% 1

Bond Sector Breakdown

Weighting Category Low Category High AFRCX % Rank Quintile
Corporate
86.12% 22.75% 103.35% 25.00% 5
Cash & Equivalents
5.26% -8.81% 164.55% 14.62% 3
Government
2.52% -115.02% 19.70% 2.83% 1
Securitized
0.43% 0.00% 48.85% 11.79% 2
Derivative
0.00% -33.31% 17.86% 6.60% 5
Municipal
0.00% 0.00% 1.96% 2.36% 5

Bond Geographic Breakdown

Weighting Category Low Category High AFRCX % Rank Quintile
US
51.70% -54.19% 95.79% 27.36% 5
Non US
38.02% 0.00% 78.18% 5.66% 1

AFRCX - Expenses

Operational Fees

AFRCX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.57% 0.10% 2.62% 15.09% 4
Management Fee 0.61% 0.00% 1.00% 5.66% 3
12b-1 Fee 0.75% 0.00% 1.00% 1.97% 4
Administrative Fee N/A 0.03% 0.40% N/A N/A

Sales Fees

AFRCX Fees (% of AUM) Category Low Category High AFRCX Rank Quintile
Front Load N/A 0.75% 4.75% N/A N/A
Deferred Load 1.00% 1.00% 5.00% 9.09% 5

Trading Fees

AFRCX Fees (% of AUM) Category Low Category High AFRCX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AFRCX Fees (% of AUM) Category Low Category High AFRCX Rank Quintile
Turnover 68.00% 13.00% 243.00% 12.74% 3

AFRCX - Distributions

Dividend Yield Analysis

AFRCX Category Low Category High AFRCX % Rank Quintile
Dividend Yield 0.3% 0.14% 1.25% 50.24% 4

Dividend Distribution Analysis

AFRCX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

AFRCX Category Low Category High AFRCX % Rank Quintile
Net Income Ratio 3.55% 1.66% 5.41% 42.45% 4

Capital Gain Distribution Analysis

AFRCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

AFRCX - Managers

Scott Baskind

Manager

Start Date

Dec 20, 2013

Tenure

4.7

Tenure Rank

13.2%

Scott Baskind Head of Global Senior Loans and Chief Investment Officer Scott is the president and managing director of Invesco’s US$27.9 billion senior loan business and serves as the group’s chief investment officer. Scott is head of the senior loan Investment Committee and serves as the senior portfolio manager for several funds. Scott joined Invesco Senior Secured Management, Inc. in 1999 as a credit analyst, and has taken on progressively more senior roles including his current position in 2014.


Philip Yarrow

Manager

Start Date

Dec 20, 2013

Tenure

4.7

Tenure Rank

13.2%

Philip Yarrow is a Portfolio Manager for Invesco Senior Secured Management, Inc. Mr. Yarrow entered the industry in 1995 and joined Invesco in 2010, when the firm combined with Van Kampen. He was previously a portfolio manager in the senior loan group and member of the group’s investment committee at Van Kampen, which he joined in 2005. Prior to joining Invesco Senior Secured, Mr. Yarrow was an Executive Director with Morgan Stanley. Prior to that, he served as a credit analyst and a portfolio manager at Bank One/JPMorgan. Mr. Yarrow earned a BS degree in mathematics and economics from the University of Nottingham and a Master of Management degree in finance from Northwestern University. He is a CFA charterholder.


Thomas Ewald

Lead Manager

Start Date

Feb 27, 2006

Tenure

12.52

Tenure Rank

1.9%

Thomas Ewald, Portfolio Manager, has been associated with Invesco Senior Secured and/or its affiliates since 2000. Tom is a Senior Portfolio Manager in Invesco’s Senior Secured Bank Loan Group and a member of the Investment Committee. He is responsible for credit research and portfolio management with a focus on retail funds. Tom joined Invesco in 2000 as a Credit Analyst and was promoted to Portfolio Manager in 2001. Prior to joining Invesco, Tom was one of the initial members of First Union Institutional Debt Management and assisted in growing assets under management. Before joining IDM, Tom worked for several departments within First Union Securities, including par loan research, syndications and mergers and acquisitions. After graduating from college, Tom was with Barclays Bank PLC, where he worked in middle market lending, real estate and credit. Following Barclays, Tom was Deputy Head of International Lending for Al-Ahli Bank of Kuwait. Tom earned an A.B. from Harvard College and an M.B.A. from the Darden School at the University of Virginia.


Tenure Analysis

Category Low

0.0

Category High

22.0

Category Average

5.96

Category Mode

3.7