Floating Rate Income Fund is a Canada-based investment trust. The Fund's investment objectives are to provide holders of units (unitholders) with monthly tax-advantaged distributions consisting initially primarily of returns of capital and to preserve capital. The Fund provides unitholders with exposure to a diversified portfolio, which consists of senior secured floating rate loans, floating rate notes and other debt obligations of investment and non-investment grade global issuers. The Fund focuses on sectors, which include consumer staples, consumer discretionary, telecommunication services, materials, financials, healthcare, industrials, diversified, pipelines, utilities, energy and information technology, among others. The Fund's investment manager is O'Leary Funds Management LP.