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Morningstar

PGIM Floating Rate Income A FRFAX

Morningstar Medalist Rating
Medalist Rating as of | See PGIM Investment Hub
  • NAV / 1-Day Return 8.99  /  0.14 %
  • Total Assets 2.0 Bil
  • Adj. Expense Ratio
    0.950%
  • Expense Ratio 1.000%
  • Distribution Fee Level Low
  • Share Class Type Front Load
  • Category Bank Loan
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 9.39%
  • Effective Duration —

USD | NAV as of Nov 29, 2023 | 1-Day Return as of Nov 29, 2023, 1:29 AM GMT+0

Morningstar’s Analysis FRFAX

Will FRFAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FRFAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the FRFAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of FRFAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Liquidity risks loom large.

Senior Analyst R.J. D'Ancona

R.J. D'Ancona

Senior Analyst

Summary

PGIM Floating Rate Income's outsize liquidity risks overshadow abundant resources and an analytically rigorous process. Its cheapest shares earn a Morningstar Analyst Rating of Neutral, while its priciest option is rated Negative.

by R.J. D'Ancona
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings FRFAX

More FRFAX Holdings
  • Current Portfolio Date
  • Equity Holdings 6
  • Bond Holdings 394
  • Other Holdings 37
  • % Assets in Top 10 Holdings 13.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

JPMorgan Chase & Co. 4.6%

3.31
68,433,414
Corporate

Citigroup Inc. 4.7%

2.42
50,190,085
Corporate

Bank of America Corporation 4.3%

1.49
30,855,130
Corporate

Usd/Eur Fwd 20231102 Bnpafrpp

1.44
29,900,653
Derivative

Usd/Eur Fwd 20231204 57918

1.44
29,731,083
Derivative

Eur/Usd Fwd 20231102 57918

1.44
29,714,864
Derivative

Usd/Gbp Fwd 20231102 Mslngb2x

1.14
23,525,857
Derivative

Gbp/Usd Fwd 20231102 Bnpafrpp

1.13
23,412,906
Derivative

Usd/Gbp Fwd 20231204 Bnpafrpp

1.13
23,362,551
Derivative

Digicel Intl Finance Ltd Term Loan B

1.00
20,762,494
Corporate