Morningstar

PGIM Floating Rate Income Fund- Class C FRFCX

Morningstar Medalist Rating
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  • NAV / 1-Day Return $8.80  /  −0.11 %
  • Fund Size $2.5B
  • Adjusted Expense Ratio 1.700%
  • Net Expense Ratio 1.770%
  • Fee Level: Distribution Below Average
  • Share Class Type Level Load
  • Morningstar Category Bank Loan
  • Fixed-Income Style Box (Funds) —
  • Minimum Initial Investment $1,000
  • Investment Status Open
  • TTM Yield 5.99%
  • Average Effective Duration —
NAV and 1-Day Return as of

Morningstar’s Analysis FRFCX

Will FRFCX outperform in the 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 FRFCX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FRFCX 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 FRFCX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Casting a wider net.

Senior Analyst Max Curtin

Max Curtin

Senior Analyst

Summary

PGIM Floating Rate Income is not your typical bank-loan strategy. Its expanded opportunity set and liquidity-management tactics set it apart from peers. Those nuances notwithstanding, PGIM’s proven credit process and standout leveraged-finance teams make this an attractive option for investors in search of floating-rate exposure and yield.

by Max Curtin
Rated on Published on

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Portfolio Holdings FRFCX

More FRFCX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 7.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Prudential Govt Money Mkt Fd

11.72 303M
Cash and Equivalents

Us Dollar

1.31 34M
Cash and Equivalents

Usd/Eur Fwd 20261104 0997

1.29 33M
Derivative

Eur/Usd Fwd 20261002 0997

1.28 33M
Derivative

Goldman Sachs Group, Inc. 6.5%

1.21 31M
Corporate

Usd/Eur Fwd 20261002 57918

1.18 30M
Derivative

Bank of Nova Scotia 7.35%

1.08 28M
Corporate

Ggp Retail Llc

1.02 26M
Corporate

JPMorgan Chase & Co. 6.47043%

0.89 23M
Corporate

Rad Clo 19 Ltd. / Rad Clo 19 LLC 5.67921%

0.78 20M
Securitized

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