FRFEX — Delaware Floating Rate II Fund
Data updated: 2021-08-30
FRFEX — Delaware Floating Rate II Fund. Bank Loans / Floating Rate Bond · $46.28M AUM · 0.80% expense ratio. Holdings, fees, performance and SEC filings.
FRFEX Fund Overview
FRFEX — Delaware Floating Rate II Fund is a US mutual fund managed by Delaware Group Equity Funds IV, categorised as Bank Loans / Floating Rate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Delaware Group Equity Funds IV
- Category: Bank Loans / Floating Rate Bond
- Assets under management: $46.28M
- 1-year return: 9.3%
- Ticker: FRFEX
- SEC CIK: 0000778108
- SEC series ID: S000065924
- Share class ID: C000212953
FRFEX Investment Objective and Strategy
Delaware Floating Rate II Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Delaware Group Equity Funds IV.
Investment objective
Delaware Floating Rate II Fund seeks a high level of current income.
Principal investment strategy
Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in floating rate loans and/or bonds (80% policy). Floating rate loans represent amounts borrowed by companies or other entities from banks and other lenders, which have interest rates that reset periodically (annually or more frequently), generally based on a common interest rate index or another base rate. In many cases, they are issued in connection with recapitalizations, acquisitions, leveraged buyouts and refinancings. Delaware Management Company (Manager) will determine how much of the Funds assets to allocate among the different types of securities in which the Fund may invest based on its evaluation of economic and market conditions and its assessment of the returns and potential for appreciation that can be achieved from various sectors of the fixed income market.
In addition, the Manager may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Europe Limited, Macquarie Investment Management Austria Kapitalanlage AG, and Macquarie Investment Management Global Limited (together, the Affiliated Sub-Advisors). The Manager may also permit these Affiliated Sub-Advisors to execute Fund security trades on behalf of the Manager and exercise investment discretion for securities in certain markets where the Manager believes it will be beneficial to utilize an Affiliated Sub-Advisor's specialized market knowledge. The Fund's investments may be variable- and floating-rate debt securities that generally pay interest at rates that adjust whenever a specified interest rate changes and/or reset on predetermined dates (such as the last day of a month or calendar quarter).
Derivatives instruments may be utilized to effectively convert the fixed-rate interest payments from a group of certain Fund portfolio securities into floating-rate interest payments. The average portfolio duration (that is, the sensitivity to general changes in interest rates) of this Fund will generally not exceed one year. Up to 100% of the Funds total assets may be allocated to below-investment-grade securities within the Fund. Investments in emerging markets will, in the aggregate, be limited to no more than 15% of the Funds total assets. The Manager will limit non-US-dollar-denominated securities to no more than 50% of net assets, but total non-US-dollar currency exposure will be limited, in the aggregate, to no more than 25% of net assets. The Fund may also invest up to 50% of its total assets in a wide range of derivatives instruments, including forward foreign currency contracts, options, futures contracts, options on futures contracts, and swaps, for both hedging and nonhedging purposes.
In addition, the Fund may hold a portion of its assets in cash or cash equivalents.
FRFEX Performance
Total returns for FRFEX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 9.3% |
FRFEX Risk Information
Risk metrics for FRFEX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.2%
FRFEX Costs and Fees
FRFEX costs about $80 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.80%
- Gross expense ratio: 1.01%
- Portfolio turnover: 176%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
FRFEX Cashflows
Over the 12 months to 2021-06, Delaware Floating Rate II Fund had net inflows of $36.06M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-06 | $1.68M |
| 2021-05 | $1.99M |
| 2021-04 | $1.92M |
| 2021-03 | $2.92M |
| 2021-02 | $3.62M |
| 2021-01 | $2.20M |
FRFEX Debt Constituents
No individual debt constituents are reported in Delaware Floating Rate II Fund's latest SEC N-PORT filing.
FRFEX Prospectus and SEC Filings
Official Delaware Floating Rate II Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-01-28
- Prospectus (485BPOS) — filed 2020-02-12
- Prospectus supplement (497) — filed 2020-02-18
- Portfolio holdings (N-PORT) — filed 2021-08-30
- Portfolio holdings (N-PORT) — filed 2021-05-20
- Portfolio holdings (N-PORT) — filed 2021-03-01
- Annual census (N-CEN) — filed 2020-12-03
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Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.