Metropolitan West Floating Rate Income Fd Cl I Shs
MWFLX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- METROPOLITAN WEST ASSET MANAGEMENT
- IPO Date
- Jul 1, 2013
- CIK
- 0001028621
- Similar Companies
- Business
- Metropolitan West Floating Rate Income Fund Class I Shares (MWFLX) is an open-end mutual fund that seeks primarily to maximize current income, with a secondary objective of long-term capital appreciation; it normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in floating rate investments and investments that are the economic equivalent of floating rate investments, including senior secured floating rate loans or debt, second lien or subordinated floating rate loans or debt, fixed-rate loans or debt converted to floating rates via derivatives, convertible or preferred securities that produce income, participations or assignments in senior or second lien floating rate loans, mezzanine investments, collateralized loan obligations, structured products, U.S. government debt securities, and writing credit derivatives. The fund's portfolio emphasizes credit/corporate securities (approximately 92.62% allocation as of December 31, 2023), with additional exposure to cash equivalents (6.45%), asset-backed securities (0.84%), and minimal other sectors; credit quality is predominantly B-rated (48.11%) and BB-rated (30.25%), alongside unrated (0.09%) and CCC & below (6.61%), yielding an effective duration of 0.16 years and average maturity of 3.87 years. Managed by a team including Jerry Cudzil, Brian G. Gelfand, Steven J. Purdy, Drew Sweeney, and Kenneth Toshima within TCW's Fixed Income group, the fund targets institutional and individual investors seeking bank loan exposure, with total net assets of approximately $316.5 million as of December 31, 2023, monthly distributions, and a net expense ratio of 0.71% (after fee waivers). Inception date is June 28, 2013, for Class I Shares (CUSIP: 592905723), with headquarters at 515 South Flower Street, Los Angeles, CA 90071, under Metropolitan West Asset Management, LLC, a wholly-owned subsidiary of The TCW Group, Inc., which manages over $210 billion in assets across fixed income, equities, emerging markets, and alternatives from offices in the U.S., London, Milan, Singapore, Hong Kong, and Tokyo. The fund belongs to the Morningstar Bank Loan category, benchmarked against the Morningstar LSTA U.S. Leveraged Loan Index. Recent developments include ongoing integration and branding under TCW MetWest following TCW's 2009 acquisition of Metropolitan West Asset Management, which brought $30 billion in fixed income assets under TCW's platform and positioned key personnel like former MetWest CIO Tad Rivelle and CEO David Lippman in senior TCW roles. In 2024, TCW expanded its offerings by completing the conversion of the $370 million TCW MetWest Intermediate Bond Fund (MWIIX) into the active TCW Core Plus Bond ETF (FIXT) in June, alongside launching a new asset-backed finance business in January, reflecting strategic shifts toward ETFs and specialized fixed income strategies. The fund maintained stable operations, reporting a semi-annual shareholder report through September 30, 2024, with no material changes to its investment process, alongside recent dividend announcements such as $0.06 per share in September 2025.