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FRFNX First Investors Floating Rate Instl

  • Fund
  • FRFNX
  • Price as of: Jul 09, 2019
  • $9.61 - $0.00 - 0.00%
  • Category
  • Bank Loan

FRFNX - Profile

Vitals

  • YTD Return 3.0%
  • 3 Yr Annualized Return 0.1%
  • 5 Yr Annualized Return -0.8%
  • Net Assets $116 M
  • Holdings in Top 10 12.4%

52 WEEK LOW AND HIGH

$9.61
$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 3.0%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return -0.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.68%
DIVIDENDS
  • Dividend Yield 2.9%
  • 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 (%)
YTD 3.0% 0.0% 5.5% 41.45%
1 Yr -0.7% -4.0% 1.2% 5.85%
3 Yr 0.1%* -1.3% 2.8% 37.02%
5 Yr -0.8%* -3.1% -0.4% 18.54%
10 Yr N/A* -0.6% 1.9% N/A

* Annualized


Return Ranking - Calendar

Period FRFNX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.4% -6.4% 0.0% 4.79%
2017 -0.2% -2.7% 2.8% 44.32%
2016 3.0% -0.4% 7.9% 89.44%
2015 -2.6% -10.4% -1.0% 8.43%
2014 -3.6% -6.9% -1.7% 67.05%

Total Return Ranking - Trailing

Period FRFNX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% 0.0% 5.5% 45.60%
1 Yr -0.7% -3.9% 1.5% 16.49%
3 Yr 0.1%* -0.8% 5.9% 48.07%
5 Yr -0.8%* -2.4% 3.4% 31.46%
10 Yr N/A* -0.2% 4.4% N/A

* Annualized


Total Return Ranking - Calendar

Period FRFNX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.4% -6.4% 0.7% 15.96%
2017 -0.2% -1.6% 7.2% 57.30%
2016 3.0% 1.6% 11.5% 92.78%
2015 -2.6% -8.8% 1.6% 16.85%
2014 -3.6% -6.9% 2.4% 75.57%

NAV & Total Return History

FRFNX - Holdings

Concentration Analysis

FRFNX Category Low Category High FRFNX % Rank
Net Assets 116 M 67.3 M 12.7 B 94.30%
Number of Holdings 195 94 1815 87.05%
Net Assets in Top 10 31.7 M 11.4 M 1.74 B 86.53%
Weighting of Top 10 12.40% 5.3% 81.0% 35.23%

Top 10 Holdings

  1. Usi Holdings Corp. 1.50%

  2. Atlantic Broadband Finance Llc 1.45%

  3. Hearthside Food Holdings, Llc 1.33%

  4. Envision Healthcare Corp. 1.28%

  5. Digicert Holdings, Inc. 1.25%

  6. Boyd Gaming Corp. 1.16%

  7. Quintiles Ims Inc 1.15%

  8. Gfl Environmental, Inc. 1.13%

  9. Calpine Corp. 1.10%

  10. Usic Holdings, Inc. 1.04%


Asset Allocation

Weighting Return Low Return High FRFNX % Rank
Bonds
96.84% 80.82% 98.58% 16.58%
Cash
3.16% -0.45% 15.76% 70.98%
Stocks
0.00% 0.00% 3.84% 90.16%
Preferred Stocks
0.00% 0.00% 0.31% 64.77%
Other
0.00% -4.40% 9.21% 67.88%
Convertible Bonds
0.00% 0.00% 4.55% 67.88%

Bond Sector Breakdown

Weighting Return Low Return High FRFNX % Rank
Corporate
94.72% 0.00% 98.26% 32.64%
Cash & Equivalents
5.28% -1.90% 70.33% 38.86%
Derivative
0.00% -0.09% 9.07% 50.78%
Securitized
0.00% 0.00% 39.66% 69.43%
Municipal
0.00% 0.00% 0.15% 48.19%
Government
0.00% 0.00% 8.58% 51.81%

Bond Geographic Breakdown

Weighting Return Low Return High FRFNX % Rank
US
83.89% 38.04% 97.95% 36.27%
Non US
12.95% 0.00% 59.30% 52.33%

FRFNX - Expenses

Operational Fees

FRFNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.75% 0.01% 2.99% 87.05%
Management Fee 0.60% 0.00% 1.00% 51.30%
12b-1 Fee 0.00% 0.00% 1.00% 6.67%
Administrative Fee N/A 0.03% 0.40% N/A

Sales Fees

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

Trading Fees

FRFNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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 Return Low Category Return High Rank in Category (%)
Turnover 60.00% 12.00% 163.00% 51.81%

FRFNX - Distributions

Dividend Yield Analysis

FRFNX Category Low Category High FRFNX % Rank
Dividend Yield 2.89% 0.00% 3.81% 16.58%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

FRFNX Category Low Category High FRFNX % Rank
Net Income Ratio 3.68% 2.34% 5.70% 76.17%

Capital Gain Distribution Analysis

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

FRFNX - Managers

Bryan Petermann

Manager

Start Date

Tenure

Tenure Rank

Oct 18, 2013

5.7

5.7%

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

Tenure

Tenure Rank

Dec 01, 2014

4.58

4.6%

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

N/A

Category High

N/A

Category Average

N/A

Category Mode

N/A