Floating rate securities will provide yield and stability in a portfolio even if interest rates remain range bound for the rest of the year, says Scott Page, portfolio manager for the Eaton Vance Floating-Rate Advantage Fund. Page says Wall Street is creating a lot of floating rate issues to meet the heightened demand, nevertheless, he says his experienced team is well trained to avoid lower quality credits. Finally, he says he is not seeing any red flags over a particular sector or industry issuing floaters, and since this particular debt is senior and secured, he does not expect many fireworks from floaters anyway.
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