The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Blackstone Preps Floating-Rate Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 30, 2012

Blackstone Preps Floating-Rate Fund

News summary by MFWire's editors

A giant in the private-equity business is prepping a mutual fund that will invest in riskier corporate loans. Blackstone Group is one of a number of financial services firms preparing to open a floating-rate mutual fund, reports SmartMoney.

Last month Bloomberg reported that Blackstone Group's GSO Capital Partners has paired up with BlackRock and Goldman Sachs to create such a fund, according to the New York Times Dealbook column. The article linked by the paper now longer exists.

Blackstone currently offers only closed-end mutual funds. Neither article details the structure of the discussed fund.

The SmartMoney report adds that State Street is also readying a floating rate fund.

The creation of 17 floating-rate mutual funds funds since 2010 has pushed the total number in the category to "about 40."

Mutual fund investors seeking better yields are putting cash into "risky floating rate" mutual funds, according to the report. Shareholders poured $1.8 billion into mutual funds investing primarily in adjustable-rate leveraged loans made by banks to highly indebted companies through May 23.

Yet, that flow rate is well below the pace set last year when such funds took in a net $13 billion, according to Thomson's Lipper research arm.

Yields on floating-rate mutual funds now reach as much as 6 percent. 

Edited by: Sean Hanna, Editor in Chief

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use