NEW YORK, Jan. 6, 2021 /PRNewswire/ — Flat Rock Chance Fund (the “Fund”), a closed-end interval fund investing in CLOs, declared that its Board of Administrators has declared an boost in its every month distribution to $.175 per share. Dependent on the closing price of the Fund as of December 31st, this distribution boosts the efficient once-a-year distribution price by 4.8%, from 10.2% to 10.7%.
This increase follows more than two several years of distributions at a reliable price of $.167 per share due to the fact the Fund’s inception in 2018.
“Flat Rock Chance Fund’s good results has been driven through our adherence to our vital investment pillars most notably a capability constrained method that makes it possible for the Fund to be very selective, as nicely as our functionality to spend in center marketplace CLOs and leverage a adaptable expense mandate. We are delighted that this success will allow us to enhance our month-to-month distribution price to our shareholders,” stated Robert Grunewald, Founder and CEO of the Fund’s advisor, Flat Rock Global, LLC.
About Flat Rock Chance Fund:
Flat Rock Chance Fund invests generally in the fairness and, to a lesser extent, in the junior personal debt tranches of CLOs. CLOs provide publicity to senior secured financial loans on a leveraged basis. The Fund’s expenditure objective is to produce present money and, as a secondary objective, prolonged-expression capital appreciation. Flat Rock Opportunity Fund is structured as an Interval Fund and can be purchased making use of the ticker FROPX.
To study additional about Flat Rock Opportunity Fund’s general performance, read through the Flat Rock Opportunity Fund December Fact Card.
About Flat Rock International, LLC:
Flat Rock World is an alternative credit history supervisor investing in locations of the credit history markets we believe are considerably less productive, with the twin aim of preservation of funds and generation of latest money. Flat Rock cash are out there completely to RIAs, Relatives Workplaces, and Institutional Traders. To find out more about the agency and our resources, you should visit www.flatrockglobal.com or attain out to Kyle McGowan at [email protected]
Take into account the investment decision aims, dangers, costs and charges of the Fund thoroughly right before investing. Other info about the Fund may well be acquired at www.flatrockglobal.com/prospect-fund.html. This content ought to be preceded or accompanied by a prospectus. ALPS Distributors Inc. serves as FROPX’s principal underwriter, inside the that means of the 1940 Act, and will act as the distributor of FROPX shares on a finest efforts’ foundation, issue to numerous problems.
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Source Flat Rock World-wide