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Morningstar

Columbia Floating Rate A RFRAX

Morningstar Analyst Rating
Analyst rating as of
  • NAV / 1-Day Return 33.32  /  0.05 %
  • Total Assets 781.5 Mil
  • Adj. Expense Ratio
    1.020%
  • Expense Ratio 1.020%
  • Distribution Fee Level Average
  • Share Class Type Front Load
  • Category Bank Loan
  • Credit Quality / Interest Rate Sensitivity Low / Limited
  • Min. Initial Investment 2,000
  • Status Open
  • TTM Yield 4.69%
  • Effective Duration 0.21 years

USD | NAV as of Jan 25, 2023 | 1-Day Return as of Jan 25, 2023, 11:15 PM GMT+00:00

Morningstar’s Analysis RFRAX

Will RFRAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable RFRAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the RFRAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of RFRAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Stabilizing.

Senior Analyst

Summary

| by Peter Marchese

Columbia Floating Rate has experienced a revolving door of portfolio managers since 2018. This team implements a structured, robust process of credit risk management and portfolio construction, but given the newness of the management team, it doesn’t have a track record of executing the process. The strategy retains its Average People and Process Pillar ratings and its Morningstar Analyst Rating of Neutral across most share classes, though its expensive C shares retain a Negative rating.

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