FLC: Attractively Discounted In A Friendlier Environment For The Fund

2025-08-13 13:12:23 ET

Written by Nick Ackerman, co-produced by Stanford Chemist

Flaherty & Crumrine Total Return Fund ( FLC ) was a strong-performing preferred focused fund from the popular preferred sponsor of Flaherty & Crumrine. For years, the fund was one of the strongest performing in its category; however, higher interest rates, while not having their borrowings hedged at all, certainly cost them during the 2022/2023 aggressive Fed hiking cycle. The overall portfolio is quite interest rate sensitive as well, meaning that the underlying was also negatively impacted by higher long-term rates....

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