DoubleLine Floating Rate Income Fund - Investor Class
SPFPX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
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
- American Beacon Advisors MA United States of America
- IPO Date
- Dec 11, 2015
- CIK
- 0000809593
- Similar Companies
- Business
- American Beacon Sound Point Floating Rate Income - Investor Class (SPFPX) is a mutual fund series of American Beacon Funds that seeks to provide a high level of current income consistent with strong risk-adjusted returns by investing at least 80% of its net assets (plus any borrowings for investment purposes) in income-producing floating-rate loans and other floating-rate debt securities, including senior secured loans, bonds, notes, and debentures issued by corporations as well as debt securities issued or guaranteed by the U.S. government or its agencies or instrumentalities; the fund offers Investor Class shares under ticker SPFPX with a net expense ratio of 1.20%, alongside other share classes including A, C, Y, and R5 classes; portfolio allocations emphasize fixed income (88.1%), primarily in sectors such as technology services, consumer services, financial conglomerates, and commercial services, with geographic focus on the United States (88.4%), United Kingdom, and Canada. The fund, headquartered at 220 East Las Colinas Boulevard, Suite 1200, Irving, Texas 75039, commenced operations on December 11, 2015, with total net assets of approximately $61.1 million as of September 30, 2025. In a major strategic shift effective June 20, 2025, the fund terminated its sub-advisory agreement with First Eagle Alternative Credit, LLC (which had served since December 31, 2022, following prior sub-advisor Sound Point Capital Management, LP), appointed DoubleLine Capital LP as the new sub-advisor (with portfolio manager Robert Cohen joining as of that date), and changed its name from American Beacon FEAC Floating Rate Income Fund to American Beacon DoubleLine Floating Rate Income Fund; this transition preserved the fund's investment objective while DoubleLine Capital (a Delaware limited partnership founded in 2009 with approximately $93.5 billion in assets under management as of June 30, 2025) assumed day-to-day management of assets allocated by manager American Beacon Advisors, Inc., subject to oversight; aggregate management and sub-advisory fees remained unchanged at 0.60% net of waivers, despite DoubleLine's higher sub-advisory rate offset by a reduced management fee.