Apollo offers individual investors a variety of opportunities to access the firm’s deep experience in credit analysis and active portfolio management, drawing ideas from across our global platform.
Apollo Closed-End Funds
Apollo has two closed-end funds to choose from to meet a range of investment objectives:
Apollo Senior Floating Rate Fund Inc. (NYSE: AFT)
Investing primarily in a portfolio of senior secured floating rate loans with the objective of current income and preservation of capital.
Apollo Tactical Income Fund Inc. (NYSE: AIF)
Investing primarily in a portfolio of senior loans and high yield corporate bonds with the primary objective to seek current income with a secondary objective of preservation of capital.
Senior Management Team
James Vanek
Fund Portfolio Manager, Partner, Credit
Kenneth Seifert
Treasurer and Chief Financial Officer
Kristin Hester
Secretary and Chief Legal Officer
Ryan Del Giudice
Chief Compliance Officer
How to Invest?
Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc. (individually, a "Fund" or, together, the "Funds") are closed-end funds that trade on the New York Stock Exchange. Shares may be bought and sold through registered broker dealers such as your financial advisor. Shares of closed-end investment companies frequently trade at a discount to net asset value, which may increase investors’ risk of loss.
Who May Wish to Invest?
- Long-term investors seeking current income and preservation of capital.
- Fixed income investors seeking the potential for additional diversification through investment in a low duration fixed income portfolio.
- Investors who believe interest rates and inflation may rise in the future and want the benefits that floating rate fixed income investments may offer.
- Investors seeking access to the investment acumen of Apollo Credit Management, LLC and its affiliates.
Understand Before Investing
Investors should consider the Apollo Senior Floating Rate Fund Inc. and the Apollo Tactical Income Fund Inc. investment objectives, strategies, risks, charges and expenses carefully before investing. The prospectus' contain this and other information about the funds, and should be read carefully before investing.
To obtain the most recent annual and semi-annual shareholder report for a closed-end fund contact your financial advisor or visit the fund's respective website.
About Apollo
Apollo Global Management, Inc. (together with its consolidated subsidiaries, “Apollo”) is a global, high-growth alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth.
Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2023, Apollo had approximately $598 billion of assets under management.
Investment Products: NOT FDIC or SIPC Insured * NO Bank Guarantee * May Lose Value
An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. An investment in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or even all of your investment. Therefore, prospective investors should consider carefully the Fund's investment objectives, risks, charges and expenses and should consult with a tax, legal or financial advisor before making any investment decision. Shares of closed-end investment companies frequently trade at a discount from their net asset value.
Senior Loans. Senior loans are usually rated below investment grade and may also be unrated. As a result, the risks associated with senior loans are similar to the risks of below investment grade fixed income instruments and may be considered speculative. Senior loans are subject to a number of risks, including liquidity risk and the risk of non-payment of scheduled interest or principal. There may be less readily available and reliable information about most senior loans than is the case for many other types of securities. As a result, Apollo will rely primarily on its own evaluation of a borrower's credit quality.
Corporate Bonds. The Fund may invest in a wide variety of bonds of varying maturities issued by U.S. and foreign corporations, other business entities, governments and municipalities and other issuers. The Fund's investments in corporate bonds may include, but are not limited to, senior, junior, secured and unsecured bonds, notes and other debt securities, and may be fixed rate, variable rate or floating rate, among other things. Apollo expects most of the corporate bonds in which the Fund invests will be high yield bonds (commonly referred to as "junk" bonds), which may be considered speculative. The market value of a corporate bond generally may be expected to rise and fall inversely with interest rates. The value of intermediate and longer-term corporate bonds normally fluctuates more in response to changes in interest rates than does the value of shorter-term corporate bonds. The market value of a corporate bond also may be affected by investors' perceptions of the creditworthiness of the issuer, the issuer's performance and perceptions of the issuer in the marketplace.
Structured Products. Investments in structured products involve risks, including credit risk and market risk. When the Funds' investments in structured products (such as collateralized debt obligations, collateralized loan obligations and asset-backed securities) are based upon the movement of one or more factors, including currency exchange rates, interest rates, reference bonds (or loans) or stock indices, depending on the factor used and the use of multipliers or deflators, changes in interest rates and movement of any factor may cause significant price fluctuations. Additionally, changes in the reference instrument or security may cause the interest rate on a structured product to be reduced to zero and any further changes in the reference instrument may then reduce the principal amount payable on maturity of the structured product. Structured products may be less liquid than other types of securities and more volatile than the reference instrument or security underlying the product.
Leverage Risk. The Fund intends to utilize leverage and may utilize leverage to the maximum extent permitted by law. The use of leverage to purchase additional securities creates an opportunity for increased common share dividends, but also creates risks for shareholders, including increased variability of the Fund's net income, distributions and/or net asset value in relation to market changes. Leverage is a speculative technique that exposes the Fund to greater risk and increased costs than if it were not implemented. Increases and decreases in the value of the Fund's portfolio will be magnified when the Fund uses leverage.
Additional Risks. The Fund may be subject to additional risks, including, but not limited to, credit risk, risks of investing in below investment grade securities, interest rate risk, and risks of investing in illiquid securities.
The information on this site is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase, securities in any jurisdiction to any person to whom it is not lawful to make such an offer.