Nuveen Asset Management Provides Senior Loan Update
TORONTO, Jan. 20, 2023 (GLOBE NEWSWIRE) -- (TSX: SSF.UN) Investors and investment advisors are invited to listen to a webinar, hosted by Larry Holzenthaler, Client Portfolio Manager, Nuveen Asset Management (“NAM”). Mr. Holzenthaler discusses some of the recent trends in the U.S. senior loan market and explains why NAM believes loans present an attractive high income investment opportunity in 2023. The presentation, recorded on January 11, 2023, can be viewed by clicking the following link:
Symphony Floating Rate Senior Loan Fund (the “Fund”) invests primarily in floating-rate senior loans, which are the most senior corporate obligations of a borrower and are secured by the borrower’s assets. Senior loans have a first-priority secured claim on repayment, ahead of bonds and equity. Senior loans offer a high level of income and low interest rate risk compared to traditional fixed income asset classes. Symphony believes that senior loan credit fundamentals remain strong as the U.S. economy continues to recover and corporate default rates are expected to remain low.
The Fund offers a $0.60 per unit per annum distribution on its class A shares, paid monthly, which represents a cash distribution rate of 8.8% per annum based on the January 18, 2023 TSX closing price. The Fund is available for purchase on the Toronto Stock Exchange under the ticker symbol SSF.UN.
About Brompton Funds
Founded in 2000, Brompton is an experienced investment fund manager with income focused investment solutions including TSX traded closed-end funds and exchange-traded funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email or visit our website at .
About Nuveen Asset Management
Nuveen Asset Management, LLC (“NAM”), is the is the sub-advisor for the Symphony Floating Rate Senior Loan Fund. NAM specializes in the management of debt and equity strategies including senior loan portfolios. NAM, a registered investment adviser, has been in business for over thirty years and had an aggregate of U.S. $252 billion of assets under management as of September 30, 2022. NAM is an indirect subsidiary of Nuveen, LLC which is a subsidiary of Teachers Insurance and Annuity Association of America.
| Annual Performance1 | 1-Yr | 3-Yr | 5-Yr | 10-Yr | S.I.2 | |||||
| Symphony Floating Rate Senior Loan Fund – Class A | -7.1 | % | 0.4 | % | 1.7 | % | 3.2 | % | 4.2 | % |
| Symphony Floating Rate Senior Loan Fund – Class U | -7.2 | % | 0.7 | % | 2.0 | % | 3.2 | % | 4.1 | % |
(1) Returns are for the periods ended December 31, 2022 and are unaudited. The table shows the Fund’s compound returns for each period indicated.(2) Inception Date: November 1, 2011.
You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the Fund. You can find more detailed information about the Fund in the public filings available at The indicated rates of return are the historical annual compounded total returns including changes in the unit value and reinvestment of all distributions and do not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. The amount of distributions may fluctuate from month to month and there can be no assurance that the Fund will make any distribution in any particular month.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
Important Disclosures
The materials referred to above in Senior Loan Market Update – January 2023 (the “Presentation”) are intended for informational and discussion purposes only. The information presented in the Presentation is believed to be materially correct as at the date hereof, but no representation or warranty (express or implied) is made as to the accuracy or completeness of any of this information. Data was taken from sources deemed reliable, but cannot guarantee its accuracy. The statements contained herein reflect opinions as of the date written and are subject to change without further notice. Nothing set out in the Presentation is or shall be relied upon as a promise or representation as to the past or future.
This Presentation is not a prospectus and does not constitute an offer to the public. No public offering or advertising of investment services or securities is intended to have taken effect through the provision of the Presentation. It is not intended to provide specific investment advice including, without limitation, investment, financial, legal, accounting or tax advice, or to make any recommendations about suitability for any particular investor.
Notice to persons in Canada: Nuveen Asset Management, LLC is exempt from registration as an adviser in Ontario as it meets all of the conditions of an "exempt international adviser." It is required to take certain steps to rely on that exemption, one of which is to provide its clients with notice of certain matters. Notice is hereby given that:
1. Nuveen Asset Management, LLC is not registered as a `portfolio manager' in Ontario or any other province or territory of Canada.
2. Nuveen Asset Management, LLC has its office of jurisdiction located at 901 Marquette Ave., Minneapolis, Minnesota, 55402, U.S.A.
3. The local address for service of process for Nuveen Asset Management, LLC is: Torys LLP, 79 Wellington Street West, Suite 3000, Box 270, TD Centre, Toronto, Ontario, Canada M5K 1N2
4. There may be difficulty enforcing legal rights against a non-resident adviser because it is resident outside Canada and all or substantially all of its assets may be situated outside of Canada.
