2024-02-06 15:33:26 ET
Summary
- In this article, we discuss why we recently rotated into the loan closed-end fund Apollo Senior Floating Rate Fund from its sister fund Apollo Tactical Income Fund Inc.
- The AFT CEF is trading at an 8.5% discount and a 12% current yield.
- AFT has outperformed the loan CEF sector in total NAV terms and has increased its distribution by 72% since 2022.
- Other pluses are that a third of its portfolio is in private credit assets and its discount remains wide of the sector average.
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For further details see:
AFT: Why We Rotated Into This 12%-Yielding Loan CEF (Rating Upgrade)