First Trust Senior Loan Fund
FTSL
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- First Trust Senior Loan Fund (FTSL) is an actively managed exchange-traded fund that seeks high current income through a diversified portfolio of first lien senior floating-rate bank loans to businesses primarily operating in North America; capital preservation serves as a secondary objective. Under normal market conditions, the fund invests at least 80% of its net assets in senior loans, which are typically below investment grade and exhibit floating-rate characteristics to mitigate interest rate risk; up to 20% may be allocated to non-senior loans, high-yield bonds, or equities. The fund offers exposure to the leveraged loan market via holdings such as term loans to companies including Irb Holding Corp, Athenahealth Group Inc, Howden Group Holdings, Whatabrands LLC, and others across sectors like healthcare, insurance, technology, and consumer services; it maintains cash equivalents like Morgan Stanley Institutional Liquidity Funds for liquidity. FTSL trades on the NASDAQ exchange under the ticker FTSL with assets under management exceeding $2.4 billion as of recent data. Launched on May 1, 2013, the fund is managed by First Trust Advisors L.P., headquartered in Wheaton, Illinois, and focuses on institutional and retail investors seeking income with low duration risk in a high-yield environment. Geographically, investments center on North American issuers, with potential global elements in senior floating-rate debt; the portfolio emphasizes covenant-lite loans alongside traditional structures for diversified credit selection via fundamental analysis, relative value, and macroeconomic overlays. Recent developments include ongoing monthly distributions announced by First Trust Advisors L.P. through November 2025, reflecting sustained income generation amid stable market conditions; trustee elections and re-elections occurred on August 12, 2025, alongside semi-annual reports for periods ended April 30, 2025. Updated holdings reports as of July 31, 2025, and quarterly commentaries highlight portfolio adjustments for credit management and liquidity; assets grew with net fund flows of approximately $229.71 million over the past year, underscoring investor interest. No major acquisitions, funding rounds, or strategic alliances specific to FTSL were reported in the last 1-2 years, with focus remaining on active management and tax-related updates like 2025 estimated capital gain distributions.