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A Bank-Loan Fund to Keep an Eye On

High fees may hamper Eaton Vance Floating-Rate & High Income, but we see positives with the team, process, and performance.


Kenneth Oshodi: Eaton Vance Floating-Rate & High Income first caught my attention because of its combination of the firm's well-respected bank-loan and high-yield groups. The joint management team consists of Scott Page, Michael Weilheimer, Craig Russ, Kelly Baccei, and Stephen Concannon, and both Page and Weilheimer have been portfolio managers on this fund since its September 2000 inception.

The team's goal here is to use fundamental analysis across an 80-20 portfolio of bank-loans and high-yield bonds to deliver reasonable outperformance. They use relative value analysis to adjust portfolio exposure across the two assets classes and employ the up to 20% high-yield bond allocation to find the best risk/return profile for the fund.

Kenneth Oshodi does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.