Investors in leveraged loan funds are finally seeing their patience pay off now that interest rates have stepped up, said George Goudelias, portfolio manager for the RidgeWorth Seix Floating Rate High Income Fund. Goudelias added that his outlook remains constructive on bank loans going forward because their floating rate structure and healthy yields protect investors in a rising rate environment. He said he expects inflation to pick up as the year progresses due to an increase in wage pressure as well as oil prices. Finally, Goudelias said bank loan issuance is below last year, but is picking up with flows returning to the sector.
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