Nuveen Floating Rate Income Fund (NYSE: JFR) is a closed-end management investment company that seeks to provide high current income, with a secondary objective of capital appreciation. The fund accomplishes this by investing primarily in floating rate loans and other floating rate corporate debt instruments. Since floating rate securities typically reset periodically, the fund aims to benefit from rising short-term interest rates while mitigating the interest rate risk associated with fixed-rate debt.
JFR’s portfolio is diversified across a variety of sectors, with a focus on senior secured loans issued by U.S. and non-U.S. corporations. These loans are often backed by collateral and rank high in the capital structure, providing a degree of downside protection relative to unsecured debt. The fund may also employ modest leverage and utilize various hedging techniques to manage duration and credit exposure, enhancing its ability to generate income in different market environments.
Launched in 2013, Nuveen Floating Rate Income Fund is advised by Nuveen Asset Management, a subsidiary of TIAA, which traces its roots back to 1898. The fund’s management team comprises experienced credit analysts and portfolio managers who leverage Nuveen’s global research platform. This platform provides access to in-house credit research, risk management tools and extensive market insights to help identify attractive floating rate opportunities across the capital structure.
JFR serves a broad base of institutional and retail investors seeking a steady stream of income along with the potential for capital preservation in a rising rate environment. Headquartered in Chicago, Nuveen is known for its long history in fixed income and alternative strategies, offering clients a range of portfolios designed to meet diverse income and total return objectives. Through disciplined credit analysis and active portfolio management, the fund strives to deliver a competitive yield profile while managing credit and interest rate risks.
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