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FRFNX First Investors Floating Rate Instl

  • Fund
  • FRFNX
  • Price as of: Apr 22, 2019
  • $9.62
  • - $0.00
  • - 0.00%
  • Category
  • Bank Loan

FRFNX - Profile

Vitals

  • YTD Return 3.1%
  • 3 Yr Annualized Return 4.0%
  • 5 Yr Annualized Return 2.6%
  • Net Assets $255 M
  • Holdings in Top 10 12.7%

52 WEEK LOW AND HIGH

$9.62
$9.33
$9.72

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.75%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 60.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,000,000

IRA

N/A

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 3.1%
  • 3 Yr Annualized Total Return 4.0%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.68%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name First Investors Floating Rate Fund
  • Fund Family Name First Investors
  • Inception Date Oct 18, 2013
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Bryan Petermann

Fund Description

Under normal circumstances, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in floating rate loans and/or bonds. Floating rate loans represent amounts borrowed by companies or other entities from banks and other lenders, which have interest rates that reset periodically (annually or more frequently), generally based on a common interest rate index or another base rate. The fund will normally invest the majority of its assets in U.S. dollar denominated senior secured floating rate loans and/or bonds.

FRFNX - Performance

Return Ranking - Trailing

Period FRFNX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.1% -2.5% 4.7% 52.61% 4
1 Yr 2.8% -1.0% 12.4% 23.58% 2
3 Yr 4.0% * 0.2% 8.0% 75.00% 4
5 Yr 2.6% * 0.2% 5.8% 67.96% 4
10 Yr N/A * 0.3% 9.5% N/A N/A

* Annualized


Return Ranking - Calendar

Period FRFNX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -3.4% -6.4% 6.5% 8.57% 1
2017 -0.2% -12.2% 7.2% 32.69% 3
2016 3.0% -6.5% 7.9% 57.97% 5
2015 -2.6% -10.4% 12.5% 10.68% 1
2014 -3.6% -6.9% 11.2% 48.04% 4

Total Return Ranking - Trailing

Period FRFNX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.1% -100.0% 4.7% 52.61% 4
1 Yr 2.8% -3.4% 12.4% 17.45% 1
3 Yr 4.0% * 0.3% 8.0% 66.35% 4
5 Yr 2.6% * 0.2% 5.8% 52.91% 3
10 Yr N/A * 0.3% 9.5% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period FRFNX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -3.4% -6.4% 6.5% 8.57% 1
2017 -0.2% -12.2% 7.2% 33.65% 3
2016 3.0% -6.4% 10.8% 63.77% 5
2015 -2.6% -8.8% 12.5% 18.93% 2
2014 -3.6% -6.9% 11.2% 59.31% 4

NAV & Total Return History

FRFNX - Holdings

Filings data as of: Dec 31, 2018

Concentration Analysis

FRFNX Category Low Category High FRFNX % Rank Quintile
Net Assets 255 M 62.7 M 14.8 B 28.30% 5
Number of Holdings 193 95 1856 26.42% 5
Net Assets in Top 10 31 M -331 M 1.94 B 26.89% 5
Weighting of Top 10 12.7% 5.3% 224.2% 12.26% 2

Top 10 Holdings

  1. Usi Holdings Corp. 1.54%
  2. Atlantic Broadband Finance Llc 1.47%
  3. Hearthside Group Holdings, Llc 1.35%
  4. Envision Healthcare Corp. 1.35%
  5. Digicert Holdings, Inc. 1.30%
  6. Quintiles Ims Inc 1.19%
  7. Boyd Gaming Corp. 1.18%
  8. Brand Energy & Infrastructure 1.15%
  9. Calpine Corp. 1.11%
  10. Usic Holdings, Inc. 1.07%

Asset Allocation

Weighting Category Low Category High FRFNX % Rank Quintile
Bonds
94.71% 5.65% 103.01% 12.74% 3
Cash
5.28% -5.97% 87.26% 13.21% 2
Stocks
0.00% 0.00% 8.49% 20.28% 5
Preferred Stocks
0.00% 0.00% 0.57% 7.08% 4
Other
0.00% -1.82% 10.05% 20.75% 5
Convertible Bonds
0.00% 0.00% 4.55% 8.49% 4

Bond Sector Breakdown

Weighting Category Low Category High FRFNX % Rank Quintile
Corporate
94.72% 22.75% 99.51% 8.96% 2
Cash & Equivalents
5.28% -4.79% 164.55% 12.26% 2
Derivative
0.00% -33.31% 17.86% 5.19% 4
Securitized
0.00% 0.00% 44.35% 16.04% 5
Municipal
0.00% 0.00% 1.96% 2.36% 4
Government
0.00% -115.02% 19.70% 6.13% 4

Bond Geographic Breakdown

Weighting Category Low Category High FRFNX % Rank Quintile
US
78.55% -54.19% 97.95% 17.45% 3
Non US
16.16% 0.00% 78.18% 13.68% 3

FRFNX - Expenses

Operational Fees

FRFNX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.75% 0.01% 2.99% 42.45% 1
Management Fee 0.60% 0.00% 1.00% 6.13% 3
12b-1 Fee 0.00% 0.00% 1.00% 10.53% 1
Administrative Fee N/A 0.03% 0.40% N/A N/A

Sales Fees

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

Trading Fees

FRFNX Fees (% of AUM) Category Low Category High FRFNX 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.

FRFNX Fees (% of AUM) Category Low Category High FRFNX Rank Quintile
Turnover 60.00% 12.00% 243.00% 12.26% 3

FRFNX - Distributions

Dividend Yield Analysis

FRFNX Category Low Category High FRFNX % Rank Quintile
Dividend Yield 0.4% 0.23% 1.47% 32.23% 3

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

FRFNX Category Low Category High FRFNX % Rank Quintile
Net Income Ratio 3.68% 2.34% 5.70% 42.92% 4

Capital Gain Distribution Analysis

FRFNX Category Low Category High Capital Mode
Capital Gain Distribution Frequency N/A Annually Semi-Annually Annually

FRFNX - Managers

Bryan Petermann

Manager

Start Date

Oct 18, 2013

Tenure

5.45

Tenure Rank

11.3%

Bryan, Portfolio Manager, joined Muzinich in 2010 from Pinebridge Investments (formerly AIG Investments) where he served as Managing Director, Head of high yield for the last five years of his tenure. Bryan started his career in the banking sector. He worked in the media and cable groups at the Union Bank of California and Banque Paribas. Previously, he participated in the start of Société Générale’s cable and media group. Bryan received a B.A. from the University of California, Los Angeles where he was a Phi Beta Kappa scholar, and an M.B.A. from the University of California, Berkeley


Clinton J. Comeaux

Manager

Start Date

Dec 01, 2014

Tenure

4.33

Tenure Rank

13.3%

Mr. Comeaux, Portfolio Manager, joined the Muzinich & Co., Inc in 2006. Prior to joining Muzinich, Clint was a research analyst for the high yield and private equity funds at WR Huff Asset Management. Previously, Clint was a Manager at Enron responsible for physical trading in the forest products sector. Clint is also a Chemical Engineer, formerly with PPG Industries. He holds a B.S. in Chemical Engineering, Summa Cum Laude, from Tulane University as well as an M.B.A. from the Leonard N. Stern School of Business at New York University.


Tenure Analysis

Category Low

0.0

Category High

22.6

Category Average

5.8

Category Mode

4.3