The Eaton Vance Senior Floating Rate Fund (EFR) is a mutual fund that primarily invests in senior secured floating rate loans. These loans are typically issued by companies with below investment grade credit ratings, making them higher risk but also potentially higher yielding. The fund aims to provide investors with a steady stream of income through these floating rate loans, which have interest rates that adjust periodically based on market conditions. This can help protect against interest rate risk and inflation. The fund is managed by Eaton Vance, a well-established investment management firm with a focus on fixed income investments.