Oct 10 2005
Jack Sirard, Staff Writer, focues on a little-known sector of mutual funds which is currently providing relatively high returns with relative low risk -- bank loan mutual funds -- in this article from The Sacramento Bee. Sirard spoke with Jack Bowers, publisher of the investment newsletter Fidelity Monitor, who "describes this fund niche as a lot like junk bond funds without nearly as much risk. However, junk bond funds have loans that extend five to 10 years, he said, but the bank loan funds have short terms that leave less time for something to go wrong and have corporate assets that secure them." And, he mentioned two no-load funds in this niche, Fidelity's Floating Rate High Income Fund (FFRHX) and Eaton Vance Floating Rate and High Income Fund (EAFHX).
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