Virtus Newfleet Senior Floating Rate Fund Q1 2026 Commentary (PSFIX)
Virtus Investment Partners·2026-06-24·via All Articles on Seeking Alpha
Summary
Virtus Newfleet Senior Floating Rate Fund (Class I) returned 0.11% for the quarter versus the S&P UBS Leveraged Loan Index return of -0.47%.
An underweight and issue selection within information technology contributed to performance as AI disruption fears spurred a selloff in that sector.
Issue selection within CC, C, and default credits was negative.
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Market Overview
The loan market faced headwinds early in the year due to an AI-driven selloff, posting a return of -0.31% for January, the first negative month since April 2025. Loans remained beleaguered mid-quarter as the U.S. enacted strikes on