Nasdaq - Delayed Quote
USD
T. Rowe Price Floating Rate (PRFRX)
8.98
-0.02
(-0.22%)
At close: 8:03:48 PM EDT
Fund Summary
The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in floating rate loans and floating rate debt securities. Floating rate loans represent amounts borrowed by companies or other entities from banks and other lenders. Most, if not all, of the loans in which the fund invests are rated below investment grade (below BBB, or an equivalent rating) or are not rated by established credit rating agencies.
T. Rowe Price Floating Rate
Baltimore, Maryland 21202
100 East Pratt Street
Fund Overview
| Category | Bank Loan |
| Fund Family | T. Rowe Price |
| Net Assets | 4.02B |
| YTD Return | 2.74% |
| Yield | 6.69% |
| Morningstar Rating | |
| Inception Date | Jul 29, 2011 |
Fund Operations
| Last Dividend | 0.45 |
| Last Cap Gain | -8.00 |
|---|---|
| Holdings Turnover | 66.40% |
| Average for Category | -- |
Fees & Expenses
| Expense | PRFRX | Category Average |
|---|---|---|
|
Annual Report Expense Ratio (net)
|
0.77% | 1.03% |
|
Prospectus Net Expense Ratio
|
0.77% | -- |
|
Prospectus Gross Expense Ratio
|
0.77% | -- |
|
Max 12b1 Fee
|
-- | -- |
|
Max Front End Sales Load
|
-- | 3.08% |
|
Max Deferred Sales Load
|
-- | 1.05% |
|
3 Yr Expense Projection
|
0 | -- |
|
5 Yr Expense Projection
|
0 | -- |
|
10 Yr Expense Projection
|
0 | -- |
Management Information
Paul M. Massaro, Lead Manager since July 29, 2011
Paul Massaro is a vice president of T. Rowe Price Group, Inc.; T. Rowe Price Associates, Inc.; and T. Rowe Price Trust Company. He is a portfolio manager for high yield strategies in the Fixed Income Division. Paul is executive vice president of the T. Rowe Price Institutional Income Funds, Inc.; and the T. Rowe Price Floating Rate Fund, Inc. He also is chairman of the Investment Advisory Committee and portfolio manager of the Floating Rate and Institutional Floating Rate Funds. Prior to joining T. Rowe Price in 2003, Paul worked in equity research at Banc of America Securities and at J.P. Morgan Chase, both in New York. He earned a B.S. in business management from Cornell University and an M.B.A. in finance and strategic management from The Wharton School, University of Pennsylvania. Paul also has earned the Chartered Financial Analyst designation.Morningstar Style Box
