# Flat Rock Enhanced Income Fund (FRBBX): Closed-End Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/frbbx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: — · Asset class: Equity - Strategy: Actively Managed · Inception: 2023-04-17 Continuously offered, non-diversified, closed-end interval fund. Seeks current income with secondary objective of long-term capital appreciation. Invests primarily in junior debt tranches of CLOs initially rated 'BB', which hold diversified pools of senior secured, below-investment-grade loans. Provides exposure to a large number of middle market loans. Shares are not publicly traded; liquidity provided through quarterly repurchase offers. ## Key Facts | Metric | Value | |---|---| | Price | $21.25 | | Expense Ratio | 3.55% | | Market Value | $640.0M | | NAV | Not on file (no daily NAV for this closed-end fund) | | Holdings Count | — | | Distribution Yield (TTM) | 8.96% | | Annual Distribution (TTM) | $1.90 /share | | Distribution Frequency | Monthly | | 52-Week Range | $21.17 – $22.02 | | Beta | 0.07 | ## Latest Distribution - Amount: $0.1650 /share - Ex-date: 2026-10-29 - Pay date: 2026-10-29 ## Frequently Asked Questions ### What does FRBBX invest in? Continuously offered, non-diversified, closed-end interval fund. Seeks current income with secondary objective of long-term capital appreciation. Invests primarily in junior debt tranches of CLOs initially rated 'BB', which hold diversified pools of senior secured, below-investment-grade loans. Provides exposure to a large number of middle market loans. Shares are not publicly traded; liquidity provided through quarterly repurchase offers. ### What is the expense ratio of FRBBX? Flat Rock Enhanced Income Fund (FRBBX) charges an expense ratio of 3.55%. This is the annual fee deducted from fund assets to cover management and operations. ### What is FRBBX's dividend yield? FRBBX's trailing-twelve-month yield is 8.96%, calculated from the sum of dividends over the past year divided by the current price. ### How big is FRBBX? Flat Rock Enhanced Income Fund (FRBBX) has a market value of $640.0M: its share price times its shares outstanding. A closed-end fund trades above or below its net asset value, so its net assets differ from this figure. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is FRBBX actively managed or an index fund? FRBBX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (FRBBX's is 3.55%) in exchange for the discretion to over- or under-weight positions. ### When was FRBBX launched? Flat Rock Enhanced Income Fund (FRBBX) launched in April 2023 and is managed by the fund issuer. ### Does FRBBX pay a dividend? Yes, Flat Rock Enhanced Income Fund (FRBBX) distributes dividends to shareholders. The trailing-twelve-month yield is 8.96%. Full dividend history is on this page. ### How often does FRBBX pay dividends? Flat Rock Enhanced Income Fund pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is FRBBX's next ex-dividend date? The most recently announced ex-dividend date for FRBBX was 2026-10-29. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will FRBBX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 3.55% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does FRBBX charge its expense ratio? The expense ratio is deducted in tiny daily slices from FRBBX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does FRBBX cost more than a fund like VOO? FRBBX is actively managed (current expense ratio 3.55%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether FRBBX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to FRBBX? The Lower-Fee Alternatives card above lists closed-end funds following the same investment strategy as FRBBX (3.55%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/frbbx - Distribution history: https://www.dividenddata.com/funds/frbbx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/frbbx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/frbbx/expenses - Peer comparison: https://www.dividenddata.com/funds/frbbx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.