Flat Rock Opportunity Fund
Name
As of 10/13/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$206 M
Holdings in Top 10
60.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 7.62%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 99.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$20,000
IRA
N/A
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 10/13/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FROPX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 13.92%
- Dividend Yield 14.8%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFlat Rock Opportunity Fund
-
Fund Family NameFlat Rock Global LLC
-
Inception DateJul 02, 2018
-
Shares Outstanding9025526
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerShiloh Bates
Fund Description
FROPX - Performance
Return Ranking - Trailing
Period | FROPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -1.4% | 24.7% | 84.64% |
1 Yr | N/A | -8.4% | 44.5% | 32.40% |
3 Yr | N/A* | -7.0% | 8.1% | 0.15% |
5 Yr | N/A* | -4.3% | 13.9% | 2.21% |
10 Yr | N/A* | 0.4% | 10.5% | N/A |
* Annualized
Return Ranking - Calendar
Period | FROPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -12.2% | 23.9% | 94.94% |
2022 | N/A | -34.7% | 0.0% | 39.60% |
2021 | N/A | -11.9% | 18.1% | 1.18% |
2020 | N/A | -20.9% | 39.7% | 88.27% |
2019 | N/A | 0.8% | 25.7% | 99.68% |
Total Return Ranking - Trailing
Period | FROPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -1.4% | 24.7% | 84.64% |
1 Yr | N/A | -8.4% | 44.5% | 32.40% |
3 Yr | N/A* | -7.0% | 8.1% | 0.15% |
5 Yr | N/A* | -4.3% | 13.9% | 2.21% |
10 Yr | N/A* | 0.4% | 10.5% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | FROPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -12.2% | 26.8% | 8.15% |
2022 | N/A | -29.0% | 10.9% | 3.28% |
2021 | N/A | -3.0% | 24.2% | 0.15% |
2020 | N/A | -19.5% | 40.6% | 33.64% |
2019 | N/A | 4.4% | 32.7% | 100.00% |
NAV & Total Return History
FROPX - Holdings
Concentration Analysis
FROPX | Category Low | Category High | FROPX % Rank | |
---|---|---|---|---|
Net Assets | 206 M | 789 K | 217 B | 75.90% |
Number of Holdings | 57 | 2 | 15716 | 49.51% |
Net Assets in Top 10 | 125 M | 618 K | 62.8 B | 70.99% |
Weighting of Top 10 | 60.72% | 11.4% | 121.1% | 45.19% |
Top 10 Holdings
- Brightwood CLO Warehouse 10.75%
- Woodmont 2022-9 Trust 8.32%
- Churchill Middle Market CLO III, Ltd. 7.89%
- Great Lakes CLO 2014-1, Ltd. 7.11%
- Lake Shore MM CLO V LLC 6.00%
- Blackrock MT Hood CLO X LLC 4.58%
- Monroe Capital MML CLO VII, Ltd. 4.57%
- New Mountain CLO 1, Ltd. 4.14%
- Symphony CLO 30, Ltd. 3.95%
- TCP Whitney CLO, Ltd. 3.42%
Asset Allocation
Weighting | Return Low | Return High | FROPX % Rank | |
---|---|---|---|---|
Other | 117.44% | -42.80% | 117.44% | 0.14% |
Bonds | 25.02% | 0.00% | 77.27% | 43.79% |
Cash | 1.67% | -10.21% | 100.00% | 46.16% |
Stocks | 0.00% | 0.00% | 103.09% | 95.26% |
Preferred Stocks | 0.00% | 0.00% | 23.88% | 32.36% |
Convertible Bonds | 0.00% | 0.00% | 23.84% | 90.73% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FROPX % Rank | |
---|---|---|---|---|
Securitized | 92.13% | 0.00% | 92.13% | 0.14% |
Corporate | 6.44% | 0.00% | 98.21% | 93.96% |
Cash & Equivalents | 1.67% | 0.00% | 100.00% | 40.45% |
Derivative | 0.00% | -3.07% | 46.02% | 40.17% |
Municipal | 0.00% | 0.00% | 24.80% | 68.54% |
Government | 0.00% | 0.00% | 97.26% | 93.96% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FROPX % Rank | |
---|---|---|---|---|
US | 25.02% | 0.00% | 77.27% | 42.40% |
Non US | 0.00% | 0.00% | 14.17% | 24.69% |
FROPX - Expenses
Operational Fees
FROPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 7.62% | 0.03% | 17.63% | 0.69% |
Management Fee | 1.83% | 0.00% | 1.83% | 100.00% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.83% | N/A |
Sales Fees
FROPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
FROPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 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.
FROPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 99.00% | 0.00% | 343.00% | 83.31% |
FROPX - Distributions
Dividend Yield Analysis
FROPX | Category Low | Category High | FROPX % Rank | |
---|---|---|---|---|
Dividend Yield | 14.85% | 0.00% | 18.00% | 0.42% |
Dividend Distribution Analysis
FROPX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Monthly | Quarterly |
Net Income Ratio Analysis
FROPX | Category Low | Category High | FROPX % Rank | |
---|---|---|---|---|
Net Income Ratio | 13.92% | -2.34% | 19.41% | 0.28% |
Capital Gain Distribution Analysis
FROPX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 10, 2024 | $0.230 | OrdinaryDividend |
Mar 11, 2024 | $0.230 | OrdinaryDividend |
Feb 12, 2024 | $0.230 | OrdinaryDividend |
Jan 10, 2024 | $0.230 | OrdinaryDividend |
Dec 28, 2023 | $0.090 | OrdinaryDividend |
Dec 11, 2023 | $0.221 | OrdinaryDividend |
Nov 13, 2023 | $0.221 | OrdinaryDividend |
Oct 10, 2023 | $0.221 | OrdinaryDividend |
Sep 11, 2023 | $0.221 | OrdinaryDividend |
Aug 10, 2023 | $0.221 | OrdinaryDividend |
Jul 10, 2023 | $0.221 | OrdinaryDividend |
Jun 12, 2023 | $0.221 | OrdinaryDividend |
May 10, 2023 | $0.221 | OrdinaryDividend |
Apr 11, 2023 | $0.221 | OrdinaryDividend |
Mar 10, 2023 | $0.221 | OrdinaryDividend |
Feb 10, 2023 | $0.221 | OrdinaryDividend |
Jan 10, 2023 | $0.221 | OrdinaryDividend |
Dec 13, 2022 | $0.221 | OrdinaryDividend |
Nov 10, 2022 | $0.221 | OrdinaryDividend |
Oct 11, 2022 | $0.221 | OrdinaryDividend |
Sep 12, 2022 | $0.221 | OrdinaryDividend |
Aug 10, 2022 | $0.221 | OrdinaryDividend |
Jul 11, 2022 | $0.221 | OrdinaryDividend |
Jun 10, 2022 | $0.221 | OrdinaryDividend |
May 11, 2022 | $0.221 | OrdinaryDividend |
Apr 11, 2022 | $0.221 | OrdinaryDividend |
Mar 10, 2022 | $0.221 | OrdinaryDividend |
Feb 10, 2022 | $0.221 | OrdinaryDividend |
Jan 10, 2022 | $0.221 | OrdinaryDividend |
Dec 10, 2021 | $0.221 | OrdinaryDividend |
Nov 10, 2021 | $0.221 | OrdinaryDividend |
Oct 12, 2021 | $0.221 | OrdinaryDividend |
Sep 10, 2021 | $0.221 | OrdinaryDividend |
Aug 11, 2021 | $0.183 | OrdinaryDividend |
Jul 12, 2021 | $0.183 | OrdinaryDividend |
Jun 10, 2021 | $0.183 | OrdinaryDividend |
May 25, 2021 | $0.175 | OrdinaryDividend |
Apr 26, 2021 | $0.175 | OrdinaryDividend |
Mar 25, 2021 | $0.175 | OrdinaryDividend |
Feb 25, 2021 | $0.175 | OrdinaryDividend |
Jan 25, 2021 | $0.175 | OrdinaryDividend |
Dec 23, 2020 | $0.167 | OrdinaryDividend |
Nov 24, 2020 | $0.167 | OrdinaryDividend |
Oct 23, 2020 | $0.167 | OrdinaryDividend |
Sep 24, 2020 | $0.167 | OrdinaryDividend |
Aug 24, 2020 | $0.167 | OrdinaryDividend |
Jul 24, 2020 | $0.167 | OrdinaryDividend |
Jun 24, 2020 | $0.167 | OrdinaryDividend |
May 25, 2020 | $0.167 | OrdinaryDividend |
Apr 24, 2020 | $0.167 | OrdinaryDividend |
Mar 24, 2020 | $0.167 | OrdinaryDividend |
Feb 24, 2020 | $0.167 | OrdinaryDividend |
Jan 24, 2020 | $0.167 | OrdinaryDividend |
FROPX - Fund Manager Analysis
Managers
Shiloh Bates
Start Date
Tenure
Tenure Rank
Jul 02, 2018
3.92
3.9%
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.
Robert Grunewald
Start Date
Tenure
Tenure Rank
Jul 02, 2018
3.92
3.9%
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.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 34.51 | 6.33 | 2.41 |