BGT - BGT: A Decent Option For Floating Rate Exposure

• Floating rate loans are back in focus, with inflation expectations starting to rise.
• As yields and rates tick higher, fixed-income products suffer. Floating rate loans, by contrast, act as a hedge against this development.
• BGT sports a nice discount to NAV and holds predominately secured loans, which are less risky than unsecured loans in that they are often backed by a physical asset.
• The fund's income history and current metrics do suggest a level of caution is also warranted. So while I see value here, it is not a screaming buy.

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