Loan CEFs: Looking At This Higher-Risk Sector With A Margin Of Safety Perspective [Seeking Alpha]
First Trust Senior Floating Rate 2022 Target Term Fund Common Shares of Beneficial Interest (FIV)
US:NYSE Investor Relations:
reuters.com/resources/archive/us/20120717.html
Company Research
Source: Seeking Alpha
SummaryLoans have taken a beating over the past month driven by overall risk aversion to non-investment grade paper and lower short-term rates.We take a look at what role this sector can play in investor portfolios.Our takeaway is that higher-risk sectors can have a home in income portfolios if they are counterbalanced by higher-quality assets alongside a process of controlled risk allocation.We highlight two loan CEFs which have a higher-quality tilt and are trading at attractive discount valuations: FIV and PHD.The loan space has been beaten down over the past month with prices sliding due to outflows, increased risk aversion to non-investment grade paper and lower short-term rates. In this article we take a look at this sector to see whether it can play a role in investor portfolios. Our takeaway is that firstly, higher-risk sectors can often play a useful role in income portfolios provided they are counterbalanced by higher-quality assets. And secondly, allocating to higher-risk s
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