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A Bank-Loan Fund With Sights Set on Misrated Securities

Bronze-rated Virtus Seix Floating Rate High Income has an experienced team, an effective process, and affordable expenses.


Kenneth Oshodi: A well-executed, thorough process and cheap fees make Virtus Seix Floating Rate High Income a solid option among bank-loan funds.

George Goudelias has led the fund since its March 2006 inception and his comanager, Vincent Flanagan, joined him in August 2011. Both maintain sector analyst responsibilities, but they're also supported by seven seasoned high-yield and bank-loan analysts. The team's approach targets securities that it believes are misrated by the ratings agencies and show improvement in their underlying credit metrics. It favors the BB and B tiers of the market, but it also ventures into lower-quality territory. Asset-rich industries like healthcare, energy, and broadcasting are usually among the portfolio's top holdings.

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