ZFLIX — Ziegler Senior Floating Rate Fund

ZFLIX Fund Overview

ZFLIX — Ziegler Senior Floating Rate Fund is a US mutual fund managed by Trust for Advised Portfolios, categorised as Short 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: Trust for Advised Portfolios
• Category: Short Bank Loans / Floating Rate Bond
• Assets under management: $22.40M
• 1-year return: 6.2%
• Ticker: ZFLIX
• SEC CIK: 0001261788
• SEC series ID: S000053146
• Share class ID: C000167253

ZFLIX Investment Objective and Strategy

Ziegler Senior Floating Rate Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Trust for Advised Portfolios.

Investment objective

The Ziegler Floating Rate Fund (the Fund) seeks total return, comprised of current income and capital appreciation.

Principal investment strategy

The Fund invests under normal circumstances at least 80% of its net assets (plus any borrowings for investment purposes) in senior secured floating rate loans, other senior secured floating rate debt instruments, and in other instruments that have economic characteristics similar to such instruments. A senior secured loan is considered senior because in the event of the borrowers bankruptcy, the holder of the instrument is paid before other parties. A senior secured loan is secured, because the loan is collateralized with assets that can be sold to repay the holder if necessary. Even though senior debt holders are in line to be repaid first in the event of bankruptcy, they will not necessarily receive the full amount they are owed. Floating rate instruments reset their interest rate periodically over a base rate, with rates tied to a representative interest rate index, typically 3-month London Interbank Offered Rate (LIBOR).

T he Funds strategy has a duration of approximately 90 days, and as a result, a one percent increase in interest rates would have a minimal direct effect on the prices of the Funds holdings. Duration measures a bonds or portfolios sensitivity to interest rate changes and is expressed as a measure of time. The longer the duration is, the greater the risk. For example, if a portfolio has a duration of 5 years, a 1% increase in interest rates could be expected to result in a 5% decrease in the value of the portfolio. Shorter duration results in lower expected volatility. Floating rate loans are generally purchased from banks or other financial institutions through assignments or participations. A direct interest in a floating rate loan may be acquired directly from the lending agent or another lender by assignment or an indirect interest may be acquired as a participation in another lenders portion of a floating rate loan.

An assignment is a transfer of debt, and all the rights and obligations associated with it, from a creditor to a third-party, in order to improve the creditors liquidity and/or to reduce its risk exposure. A participation permits investors to buy portions of an outstanding loan or package of loans, and holders to participate, on a pro rata basis, in collecting interest and principal payments. The Fund may, but does not currently, use leverage, which is the use of borrowed capital for investment purposes with the expectation that the profits made will be greater than the interest payable, in an effort to maximize its return through borrowing, generally from banks. The Fund may borrow in an amount of up to 33.33% of the Funds total assets after such borrowing. The Fund may invest up to 100% of its net assets in floating rate loans and floating rate debt securities that are determined to be below investment grade (sometimes referred to as high yield or junk).

Investment grade securities are: (1) securities rated BBB- or higher by Standard & Poors Ratings Services (S&P) or Baa3 or higher by Moodys Investors Service, Inc. (Moodys) or an equivalent rating by another nationally recognized statistical rating organization (NRSRO), (2) securities with comparable short-term NRSRO ratings, or (3) unrated securities determined by Pretium Credit Management, LLC (the Sub-Adviser or Pretium) to be of comparable quality at the time of purchase. The Fund invests in loans and debt securities as determined by the Sub-Adviser. The Sub-Adviser performs its own independent credit analysis on each borrower and on the collateral securing each loan. The Sub-Adviser considers the nature of the industry in which the borrower operates, the nature of the borrowers assets and the general quality and creditworthiness of the borrower.

The Fund may invest in floating rate loans and/or floating rate debt securities of non-U.S. borrowers or issuers; in those situations, the Fund will only invest in such loans or securities that are U.S. dollar denominated or otherwise provide for payment in U.S. dollars. The Fund may invest in defaulted or distressed loans and loans to bankrupt companies. Some of the floating rate loans and debt securities in which the Fund may invest will be considered to be illiquid, although the Fund may invest no more than 15% of its net assets in illiquid securities. The Fund may also invest up to 15% of its net assets in collateralized loan obligations (CLOs), which are securitized debt instruments backed solely by a pool of other debt securities. The Fund will maintain a cash balance and has established a line of credit to meet shareholder redemptions and short term liquidity needs.

ZFLIX Holdings

Top 10 holdings of Ziegler Senior Floating Rate Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all ZFLIX holdings

ZFLIX Portfolio Allocation

Asset-class allocation of Ziegler Senior Floating Rate Fund by percentage of net assets, from the latest SEC N-PORT filing.

ZFLIX Performance

Total returns for ZFLIX (as of 2026-10-01), from SEC filings.

ZFLIX Risk Information

Risk metrics for ZFLIX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 4.8%

ZFLIX Costs and Fees

ZFLIX costs about $76 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.76%
• Gross expense ratio: 1.28%
• Portfolio turnover: 26%

ZFLIX Cashflows

Over the 12 months to 2023-06, Ziegler Senior Floating Rate Fund had net inflows of $50.05M, from monthly SEC N-PORT filings.

ZFLIX Debt Constituents

No individual debt constituents are reported in Ziegler Senior Floating Rate Fund's latest SEC N-PORT filing.

ZFLIX Prospectus and SEC Filings

Official Ziegler Senior Floating Rate Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2023-01-27
• Prospectus (485BPOS) — filed 2022-01-28
• Prospectus supplement (497) — filed 2021-07-13
• Portfolio holdings (N-PORT) — filed 2023-08-29
• Portfolio holdings (N-PORT) — filed 2023-05-30
• Portfolio holdings (N-PORT) — filed 2023-03-01
• Annual census (N-CEN) — filed 2023-12-14
• Annual census (N-CEN) — filed 2022-12-13

Related Funds

Other Short Bank Loans / Floating Rate Bond funds tracked on ABC INVEST:

• VanEck IG Floating Rate ETF (FLTR)
• First Trust Senior Loan Fund (FTSL)
• Goldman Sachs High Yield Floating Rate Fund (GFRAX)
• The Hartford Floating Rate Fund (HFLAX)
• Franklin Floating Rate Master Series (XFFLX)

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.