Symphony Floating Rate Senior Loan Fund Announces Distributions

TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) -- (TSX: SSF.UN) – Brompton Funds (the “Manager”) announces monthly distributions for record dates from January to March 2025 for the class A units (the “Class A Units”) and class U units (the “Class U Units”) of Symphony Floating Rate Senior Loan Fund (the “Fund”):

Record Dates and Payment Dates are as follows:

The new distribution rate for the Class A Units of the Fund amounts to $0.54 per annum, or a 7.8% yield based on the TSX closing price of $6.95 on January 23, 2025. The Manager believes that the new distribution level is still very attractive and better reflects the current environment for senior loans and fixed income more broadly. Income earned from senior loans in the Fund’s portfolio is impacted by changes to the secured overnight financing rate (SOFR), a reference rate for interest payments on floating rate senior loans, which has declined by 1.03% from 5.38% on September 16, 2024 to 4.35% on January 23, 2025.

The Fund announces a distribution in the amount of US$0.045 per Class U Unit for the above noted record and payment dates, representing a distribution rate of 7.7% of net asset value (“NAV”) per annum based on a NAV of US$7.04 on January 23, 2025.

Senior loans continue to deliver high levels of current income while insulating investors from traditional interest rate risk. In 2024, the Class A Units returned 11.5%, and the Class U Units returned 11.8% outperforming the Credit Suisse Leveraged Loan Index by 2.4% and 2.7%, respectively.

The Class A Units have paid 158 consecutive monthly distributions since inception on November 1, 2011 for total distributions of $8.07 per Class A Unit. The Class U Units have paid 158 consecutive monthly distributions since inception on November 1, 2011 for total distributions of US$7.99 per Class U Unit. Unitholders are reminded that the Fund offers a distribution reinvestment plan (“DRIP”) on the Class A Units and Class U Units which provide unitholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth. Unitholders can enroll in a DRIP program by contacting their investment advisor.

About Brompton Funds
Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including exchange-traded funds (ETFs) and other TSX traded investment 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 info@bromptongroup.com or visit our website at www.bromptongroup.com.

Returns are for the periods ended December 31, 2024 and are unaudited.   Inception date November 1, 2011. The table shows the Fund’s compound return for each period indicated compared with the Credit Suisse Leveraged Loan Index (“Loan Index”). The Loan Index is an appropriate benchmark as it is designed to mirror the investable universe of US dollar denominated leveraged loan market in which the Fund also invests. The Loan Index is not leveraged, whereas the Fund employs leverage. The Fund is actively managed; therefore, its performance is not expected to mirror that of the Loan Index. Furthermore, the Loan Index’s performance is calculated without the deduction of fees, fund expenses and trading commissions. Past performance does not necessarily indicate how the Fund will perform in the future. The performance information shown is based on net asset value per Class A and Class U unit and assumes that cash distributions made by the Fund during the periods shown were reinvested at net asset value per Class A and Class U unit in additional units of the Fund.

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 www.sedar.com. 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 document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document 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.