Flat Rock Core Income Fund
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
9.8%
1 yr return
12.4%
3 Yr Avg Return
8.2%
5 Yr Avg Return
N/A
Net Assets
$260 M
Holdings in Top 10
37.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 5.51%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CORFX - Profile
Distributions
- YTD Total Return 9.8%
- 3 Yr Annualized Total Return 8.2%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 7.50%
- Dividend Yield 10.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFlat Rock Core Income Fund
-
Fund Family NameFlat Rock Global LLC
-
Inception DateFeb 16, 2021
-
Shares Outstanding7663566
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Grunewald
Fund Description
CORFX - Performance
Return Ranking - Trailing
Period | CORFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.8% | -3.5% | 10.0% | 2.25% |
1 Yr | 12.4% | -3.4% | 14.8% | 1.87% |
3 Yr | 8.2%* | -7.1% | 8.3% | 0.39% |
5 Yr | N/A* | -6.4% | 38.1% | N/A |
10 Yr | N/A* | -2.2% | 19.6% | N/A |
* Annualized
Return Ranking - Calendar
Period | CORFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.2% | -12.0% | 11.1% | 46.07% |
2022 | -3.9% | -22.9% | 5.1% | 1.15% |
2021 | N/A | -12.2% | 11.1% | N/A |
2020 | N/A | -14.1% | 289.8% | N/A |
2019 | N/A | -8.1% | 7.5% | N/A |
Total Return Ranking - Trailing
Period | CORFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.8% | -3.5% | 10.0% | 2.25% |
1 Yr | 12.4% | -3.4% | 14.8% | 1.87% |
3 Yr | 8.2%* | -7.1% | 8.3% | 0.39% |
5 Yr | N/A* | -6.4% | 38.1% | N/A |
10 Yr | N/A* | -2.2% | 19.6% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | CORFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.7% | -12.0% | 22.1% | 70.41% |
2022 | 2.8% | -22.9% | 5.1% | 1.15% |
2021 | N/A | -10.2% | 11.1% | N/A |
2020 | N/A | -14.1% | 306.9% | N/A |
2019 | N/A | -3.6% | 10.5% | N/A |
NAV & Total Return History
CORFX - Holdings
Concentration Analysis
CORFX | Category Low | Category High | CORFX % Rank | |
---|---|---|---|---|
Net Assets | 260 M | 29.9 M | 13.5 B | 74.71% |
Number of Holdings | 75 | 2 | 1977 | 94.59% |
Net Assets in Top 10 | 95.9 M | -191 M | 2.37 B | 52.90% |
Weighting of Top 10 | 36.97% | 5.2% | 100.7% | 7.36% |
Top 10 Holdings
- Triplepoint Private Venture Credit Inc. 6.09%
- Hercules Private Global Venture Growth Fund I L.P. 6.05%
- BCP Great Lakes II - Series A Holdings LP 4.70%
- Vehicle Management Services, LLC TL 3.26%
- George Intermediate Holdings, Inc. 3.07%
- Brightwood Capital MM CLO 2023-1, Ltd. 3.05%
- Galactic Litigation Partners 2.80%
- Diversified Risk Holdings 2.67%
- ABPCI Direct Lending Fund ABS II LLC 2.64%
- ALM Media, LLC 2.64%
Asset Allocation
Weighting | Return Low | Return High | CORFX % Rank | |
---|---|---|---|---|
Bonds | 98.75% | 0.00% | 161.82% | 19.31% |
Stocks | 16.84% | 0.00% | 100.74% | 5.02% |
Other | 7.48% | -52.39% | 34.87% | 2.70% |
Cash | 0.97% | -61.90% | 16.36% | 71.81% |
Preferred Stocks | 0.00% | -3.99% | 7.30% | 71.81% |
Convertible Bonds | 0.00% | 0.00% | 5.51% | N/A |
Stock Sector Breakdown
Weighting | Return Low | Return High | CORFX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | N/A |
Technology | 0.00% | 0.00% | 100.00% | N/A |
Real Estate | 0.00% | 0.00% | 48.61% | N/A |
Industrials | 0.00% | 0.00% | 100.00% | N/A |
Healthcare | 0.00% | 0.00% | 100.00% | N/A |
Financial Services | 0.00% | 0.00% | 89.61% | N/A |
Energy | 0.00% | 0.00% | 100.00% | N/A |
Communication Services | 0.00% | 0.00% | 100.00% | N/A |
Consumer Defense | 0.00% | 0.00% | 100.00% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 97.66% | N/A |
Basic Materials | 0.00% | 0.00% | 1.36% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | CORFX % Rank | |
---|---|---|---|---|
US | 16.84% | -0.01% | 100.74% | 5.02% |
Non US | 0.00% | 0.00% | 0.68% | 64.48% |
Bond Sector Breakdown
Weighting | Return Low | Return High | CORFX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 0.97% | 0.00% | 25.03% | 67.57% |
Derivative | 0.00% | -10.96% | 0.59% | 94.21% |
Securitized | 0.00% | 0.00% | 91.68% | N/A |
Corporate | 0.00% | 0.00% | 99.80% | N/A |
Municipal | 0.00% | 0.00% | 0.47% | N/A |
Government | 0.00% | 0.00% | 3.18% | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | CORFX % Rank | |
---|---|---|---|---|
US | 98.75% | 0.00% | 123.41% | 16.22% |
Non US | 0.00% | 0.00% | 63.23% | 74.90% |
CORFX - Expenses
Operational Fees
CORFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 5.51% | 0.03% | 5.51% | 0.38% |
Management Fee | 1.89% | 0.00% | 1.89% | 100.00% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.02% | 0.27% | N/A |
Sales Fees
CORFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
CORFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
CORFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 4.00% | 180.00% | N/A |
CORFX - Distributions
Dividend Yield Analysis
CORFX | Category Low | Category High | CORFX % Rank | |
---|---|---|---|---|
Dividend Yield | 10.13% | 0.00% | 11.13% | 7.49% |
Dividend Distribution Analysis
CORFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
CORFX | Category Low | Category High | CORFX % Rank | |
---|---|---|---|---|
Net Income Ratio | 7.50% | 1.77% | 9.82% | 1.18% |
Capital Gain Distribution Analysis
CORFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Oct 09, 2024 | $0.175 | OrdinaryDividend |
Sep 09, 2024 | $0.175 | OrdinaryDividend |
Aug 09, 2024 | $0.175 | OrdinaryDividend |
Jul 09, 2024 | $0.175 | OrdinaryDividend |
Apr 09, 2024 | $0.170 | OrdinaryDividend |
Mar 08, 2024 | $0.170 | OrdinaryDividend |
Jan 09, 2024 | $0.170 | OrdinaryDividend |
Dec 08, 2023 | $0.155 | OrdinaryDividend |
Nov 10, 2023 | $0.155 | OrdinaryDividend |
Oct 09, 2023 | $0.155 | OrdinaryDividend |
Sep 08, 2023 | $0.133 | OrdinaryDividend |
Aug 09, 2023 | $0.133 | OrdinaryDividend |
Jul 07, 2023 | $0.133 | OrdinaryDividend |
Jun 09, 2023 | $0.133 | OrdinaryDividend |
May 09, 2023 | $0.133 | OrdinaryDividend |
Apr 10, 2023 | $0.133 | OrdinaryDividend |
Mar 09, 2023 | $0.114 | OrdinaryDividend |
Feb 09, 2023 | $0.114 | OrdinaryDividend |
Jan 09, 2023 | $0.114 | OrdinaryDividend |
Dec 12, 2022 | $0.114 | OrdinaryDividend |
Nov 09, 2022 | $0.114 | OrdinaryDividend |
Oct 10, 2022 | $0.114 | OrdinaryDividend |
Sep 09, 2022 | $0.114 | OrdinaryDividend |
Aug 09, 2022 | $0.114 | OrdinaryDividend |
Jul 08, 2022 | $0.114 | OrdinaryDividend |
Jun 09, 2022 | $0.114 | OrdinaryDividend |
May 10, 2022 | $0.114 | OrdinaryDividend |
Apr 08, 2022 | $0.114 | OrdinaryDividend |
Mar 09, 2022 | $0.114 | OrdinaryDividend |
Feb 09, 2022 | $0.114 | OrdinaryDividend |
Jan 07, 2022 | $0.114 | OrdinaryDividend |
Dec 09, 2021 | $0.114 | OrdinaryDividend |
Nov 09, 2021 | $0.114 | OrdinaryDividend |
Oct 11, 2021 | $0.114 | OrdinaryDividend |
Sep 09, 2021 | $0.114 | OrdinaryDividend |
Aug 10, 2021 | $0.114 | OrdinaryDividend |
Jul 09, 2021 | $0.114 | OrdinaryDividend |
Jun 09, 2021 | $0.114 | OrdinaryDividend |
May 10, 2021 | $0.114 | OrdinaryDividend |
Apr 09, 2021 | $0.114 | OrdinaryDividend |
Mar 09, 2021 | $0.114 | OrdinaryDividend |
Feb 09, 2021 | $0.114 | OrdinaryDividend |
Jan 11, 2021 | $0.114 | OrdinaryDividend |
Dec 22, 2020 | $0.114 | OrdinaryDividend |
Dec 03, 2020 | $0.114 | OrdinaryDividend |
CORFX - Fund Manager Analysis
Managers
Robert Grunewald
Start Date
Tenure
Tenure Rank
Nov 23, 2020
1.52
1.5%
Mr. Robert K. Grunewald is CEO and Founder of Flat Rock Global, LLC since 2016. Mr. Grunewald previously served as the President and Chief Investment Officer of Business Development Corp. of America (“BDCA”) from 2011 to 2015. Mr. Grunewald has over 25 years of experience in BDCs, middle market finance, private equity and investment banking. Mr. Grunewald holds a Bachelor of Business Administration from University of Notre Dame in 1984 and a Master of Business Administration from Georgia State University in 1994.
Shiloh Bates
Start Date
Tenure
Tenure Rank
Jan 31, 2021
1.33
1.3%
Mr. Shiloh Bates is a Managing Director of Flat Rock Global, LLC since 2018 and is also a Managing Director of Benefit Street Partners since 2016. Mr. Bates previously served as Managing Director for BDCA Adviser from 2012 to 2016. Prior to joining BDCA Adviser, Mr. Bates was a Senior Credit Analyst at Canaras Capital Management for two years. Prior to Canaras, Mr. Bates was a Senior Credit Analyst at Four Corners Capital Management for five years. Before Four Corners, Mr. Bates was employed by ING Capital Advisors for 2 years, performing in-depth financial analysis for distressed investments in telecommunication and technology companies. Mr. Bates holds a BS in Political Science from Virginia Tech, an MA of Public Policy from Harvard University, John F. Kennedy School of Government, an MA of Financial Mathematics from the University of Chicago and a MA of Statistics from Columbia University. Mr. Bates also served in the U.S. Army Reserves Special Operations Command as a Specialist for six years.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 21.18 | 6.07 | 3.25 |