Aristotle Floating Rate Income Fund Class I-2
PLFDX
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- Aristotle Floating Rate Income Fund Class I-2 (PLFDX) is an open-end mutual fund that seeks a high level of current income by investing principally in income-producing floating-rate loans and floating-rate debt securities; under normal circumstances, the fund allocates at least 80% of its assets to such instruments, with a focus on larger, more liquid issuers to provide downside protection and a margin of safety. The fund emphasizes transparent companies across sectors including corporate services, technology, insurance, and security, holding positions in less than 10% of benchmark issuers to differentiate from peers; top holdings include AssuredPartners Inc., UKG Inc., and Titan Acquisition Ltd., alongside significant cash equivalents. It operates within the bank loan category, targeting institutional investors with low credit quality and limited interest-rate sensitivity, an effective duration of approximately 0.38 years, and a TTM yield around 8.96% as of recent data. The fund is domiciled in the United States, with administrative offices c/o Aristotle Investment Services, LLC at 840 Newport Center Drive, Suite 700, Newport Beach, California. Managed by a team including Michael Marzouk, J.P. Leasure, and since March 1, 2025, C. Robert Boyd and Tommy Zhang of sub-advisor Aristotle Pacific Capital, LLC, the fund maintains continuity in its investment approach amid integration efforts. Originally launched on December 30, 2011, as part of Pacific Funds Series Trust, PLFDX underwent a significant reorganization in 2023, transferring assets into Aristotle Funds Series Trust following shareholder approval, tied to Aristotle Capital Management, LLC's acquisition and rebranding of Pacific Asset Management to Aristotle Pacific Capital. Pacific Life retains a minority stake in Aristotle, supporting an ongoing strategic partnership.