The top-performing sectors for bond funds in the second quarter focused on funds that invested in floating-rate loans and other floating-rate securities, and those that invested in senior secured floating-rate securities.
In general, the mandate of these funds is to seek current income and have capital preservation as a secondary criterion. This obviously isn't the type of fund for risk-averse investors.
These funds are classified as either loan-participation funds or corporate high-yield by ratings classifications used by TheStreet.com. The average return for each of these categories was 2.17% and 1.22%, respectively, for the three months ended June 30.
The best-performing funds were the ING Senior Income Fund(XSIAX Quote) (6.11%), the Eaton Vance Floating Rate Advantage fund(EAFAX Quote) (5.91%) and the AIM Floating Rate fund(AFRAX Quote) (5.73%). ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
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