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RSFCX Victory Floating Rate C

  • Fund
  • RSFCX
  • Price as of: Aug 18, 2017
  • $9.60
  • - $0.02
  • - 0.21%
  • Category
  • Bank Loan

RSFCX - Profile

Vitals

  • YTD Return -1.2%
  • 3 Yr Annualized Return 1.5%
  • 5 Yr Annualized Return 2.9%
  • Net Assets $792 M
  • Holdings in Top 10 14.1%

52 WEEK LOW AND HIGH

$9.60
$9.60
$9.74

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.89%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 56.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$1,000

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return -1.2%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return 2.9%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 4.18%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Victory Floating Rate Fund
  • Fund Family Name Victory
  • Inception Date Dec 31, 2009
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager John Blaney

Fund Description

The fund normally invests at least 80% of its net assets in floating rate loans and other floating rate investments. Park Avenue Institutional Advisers LLC, the fund's sub-adviser, expects that most or all of the investments held by the fund will typically be below investment grade. It may invest up to 100% of its assets in obligations of foreign issuers, including sovereign and private issuers. The fund may enter into foreign currency exchange transactions in order to hedge against adverse changes in the values of currencies in which those obligations are denominated.

RSFCX - Performance

Return Ranking - Trailing

Period RSFCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -1.2% -1.7% 4.4% 62.56% 5
1 Yr 6.5% -1.0% 12.4% 50.00% 3
3 Yr 1.5% * -0.6% 5.2% 90.87% 5
5 Yr 2.9% * 1.0% 6.6% 89.14% 5
10 Yr N/A * -0.1% 5.6% N/A N/A

* Annualized


Return Ranking - Calendar

Period RSFCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 7.0% -5.3% 7.9% 8.13% 1
2015 -7.6% -12.2% 0.0% 62.32% 5
2014 -4.9% -6.9% 0.0% 61.95% 5
2013 0.7% -1.3% 12.5% 47.16% 4
2012 4.2% 0.0% 11.2% 25.30% 2

Total Return Ranking - Trailing

Period RSFCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -1.2% -1.7% 4.4% 62.56% 5
1 Yr 5.5% -1.0% 12.4% 49.53% 3
3 Yr 1.5% * -0.8% 5.2% 86.06% 5
5 Yr 2.9% * 1.0% 6.6% 83.43% 5
10 Yr N/A * -0.1% 5.6% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period RSFCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 7.0% -5.3% 10.8% 14.83% 2
2015 -7.6% -12.2% 2.9% 65.22% 5
2014 -4.9% -6.9% 2.9% 64.39% 5
2013 0.7% -1.3% 12.5% 54.55% 4
2012 4.2% 0.0% 16.9% 34.34% 3

NAV & Total Return History

RSFCX - Holdings

Filings data as of: Jun 30, 2017

Concentration Analysis

RSFCX Category Low Category High RSFCX % Rank Quintile
Net Assets 792 M 25.2 M 14.9 B 17.92% 4
Number of Holdings 112 57 1410 26.42% 5
Net Assets in Top 10 114 M -331 M 1.66 B 15.09% 3
Weighting of Top 10 14.1% 6.1% 224.2% 8.02% 2

Top 10 Holdings

  1. Bass Pro Group, Llc 1.74%
  2. Sterigenics-Nordion 1.60%
  3. Chesapeake Energy 1.37%
  4. Telesat Canada 1.36%
  5. Peabody Energy 1.35%
  6. Admi Corp 1.35%
  7. Communications Sales 1.32%
  8. Kindred Healthcare Inc 1.30%
  9. First Data Corporation 1.29%
  10. Sprint 7.875% 1.42%

Asset Allocation

Weighting Category Low Category High RSFCX % Rank Quintile
Bonds
90.30% 5.65% 130.78% 10.38% 2
Other
6.80% -6.68% 10.05% 8.49% 2
Cash
2.31% -31.80% 87.26% 22.64% 4
Convertible Bonds
0.60% 0.00% 4.66% 2.83% 1
Stocks
0.00% -0.03% 7.81% 15.57% 4
Preferred Stocks
0.00% 0.00% 1.02% 6.60% 2

Bond Sector Breakdown

Weighting Category Low Category High RSFCX % Rank Quintile
Corporate
84.40% 0.00% 98.11% 13.68% 3
Cash & Equivalents
1.83% -31.89% 164.55% 21.70% 4
Derivative
0.00% -33.31% 26.13% 4.25% 1
Securitized
0.00% 0.00% 51.56% 16.04% 4
Municipal
0.00% 0.00% 1.96% 2.36% 1
Government
0.00% -115.02% 25.19% 7.55% 2

Bond Geographic Breakdown

Weighting Category Low Category High RSFCX % Rank Quintile
US
79.89% -54.19% 92.96% 4.72% 1
Non US
10.41% 0.00% 82.97% 22.64% 4

RSFCX - Expenses

Operational Fees

RSFCX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.89% 0.56% 2.81% 6.13% 5
Management Fee 0.65% 0.15% 1.00% 4.25% 4
12b-1 Fee 1.00% 0.00% 1.00% 0.66% 4
Administrative Fee N/A 0.01% 0.40% N/A N/A

Sales Fees

RSFCX Fees (% of AUM) Category Low Category High RSFCX Rank Quintile
Front Load N/A 0.75% 4.75% N/A N/A
Deferred Load 1.00% 1.00% 5.00% 9.09% 1

Trading Fees

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

RSFCX Fees (% of AUM) Category Low Category High RSFCX Rank Quintile
Turnover 56.00% 13.00% 243.00% 8.49% 4

RSFCX - Distributions

Dividend Yield Analysis

RSFCX Category Low Category High RSFCX % Rank Quintile
Dividend Yield 0.4% 0.14% 1.25% 38.76% 3

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

RSFCX Category Low Category High RSFCX % Rank Quintile
Net Income Ratio 4.18% 1.34% 6.09% 31.60% 3

Capital Gain Distribution Analysis

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

RSFCX - Managers

John Blaney

Manager

Start Date

May 01, 2013

Tenure

4.17

Tenure Rank

11.2%

John Blaney is a Senior Director and has been with Guardian Life since 2000. He has focused on corporate credit since 2003, and he has a particular expertise in bank loan and high yield bond analysis. Prior to 2003, he was a structured products analyst and trader. He also helps manage the fixed-income assets of Guardian Life. Prior to joining Guardian Life, John spent three years as an investment analyst at MetLife. John holds a B.S. in finance from Trenton State College and an M.B.A. from Seton Hall University. He has a Chartered Financial Analyst (CFA) designation, and he is a member of the CFA Institute and the New York Society of Security Analysts.


Kevin Booth

Manager

Start Date

Dec 31, 2009

Tenure

7.5

Tenure Rank

5.0%

Kevin has been a managing director of Guardian Life since November 2009. Within the high yield and corporate loan portfolio management team, he is responsible for issuer and security selection for the Fund, as well as industry allocations. Prior to joining Guardian Life, Kevin was a managing director at BlackRock/Merrill Lynch Investment Managers, and was co-head of BlackRock’s leveraged finance business through January 2009, specializing in portfolios consisting of leveraged bank loans, high yield bonds, and distressed obligations. He joined Merrill Lynch Investment Managers in 1991. Kevin holds a B.A. in Economics from Harpur College, SUNY Binghamton, and an M.B.A. in Finance, from New York University. Kevin is a CFA Charterholder.


Paul Gillin

Manager

Start Date

May 01, 2014

Tenure

3.17

Tenure Rank

13.6%

Paul Gillin is a senior director and co-head of the high yield and loan portfolio management group at Guardian Life. Prior to joining Guardian in 2012, Paul spent 13 years as a partner and high yield portfolio manager at Rogge Global Partners and its predecessor companies. Before that, he was vice president and portfolio manager with Saudi International Bank, where he participated in the initial development and management of collateralized bond obligation, collateralized loan obligation and leveraged high yield hedge fund products. Paul also spent seven years as a managing director and portfolio manager at AIG Investment Advisers. Prior to joining AIG, he helped launch and was the initial portfolio manager for the MainStay High Yield Fund, managed by MacKay Shields Financial. Paul holds a B.S. in business administration from Villanova University, an M.B.A. from New York University, and a Chartered Financial Analyst (CFA) designation.


Tenure Analysis

Category Low

0.0

Category High

20.8

Category Average

6.29

Category Mode

2.5