The Fidelity Floating Rate High Income (FFRHX) is a top performing fund that has earned a 5 star rating from Morningstar. This fund has held this statue for the entire span of its investment life.
The fund manager since its inception has been Christine McConnell. She is also the vice president of this fund. For the past year under her management this fund has had a performance of 21.04%. There are $3.9 billion in assets in this fund that are 84.5% in bonds and 15.4% in cash with the remainder is stocks.
This fund has picked the right floating rate loans to lend out by the proven performance. The risks are kept at a minimum with outstanding returns. There is a large surplus of cash at the present time, but the cash has to be on hand when an opportunity rises so that it can be taken advantage of.
The top 5 holding of this fund account for 11.40% of the fund as a whole. The US Corporate sector is where almost 80% of all the invest of this fund are located with HCA Inc Term B at 2.99% of the fund and Charter communications TM B at 2.46% as the second largest of the holdings.
This fund is considered a low risk with high returns is one of the leading reasons for its popularity amongst the mutual funds. It takes a minimum of $2500 to invest in this fund that has an expense ratio of 0.75%.
The volatility factors are a beta at 0.25 and an R squared of 1.0 with the standard deviation of 9.74. The Fidelity Floating Rate High Income (FFRHX) has been a proven sound investment since its inception.
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