Morningstar

PGIM Floating Rate Income Fund- Class Z FRFZX

Morningstar Medalist Rating
Medalist Rating as of | See PGIM Investment Hub
  • NAV / 1-Day Return 8.92  /  0.00
  • Total Assets 2.1B
  • Adj. Expense Ratio
    0.530%
  • Expense Ratio 0.770%
  • Distribution Fee Level Low
  • Share Class Type Institutional
  • Category Bank Loan
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 7.22%
  • Effective Duration —

USD | NAV as of Aug 08, 2026 | 1-Day Return as of Aug 08, 2026, 12:37 AM GMT+0

Morningstar’s Analysis FRFZX

Will FRFZX 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 FRFZX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FRFZX 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 FRFZX’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 FRFZX

More FRFZX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 8.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Prudential Govt Money Mkt Fd

4.60 98M
Cash and Equivalents

Usd/Eur Fwd 20260702 0997

1.36 29M
Derivative

Bank of Nova Scotia 7.35%

1.35 29M
Corporate

Usd/Eur Fwd 20260804 57918

1.34 29M
Derivative

Eur/Usd Fwd 20260702 57918

1.34 28M
Derivative

Ggp Retail Llc

1.14 24M
Corporate

JPMorgan Chase & Co. 6.43675%

1.08 23M
Corporate

Rad Clo 19 Ltd. / Rad Clo 19 LLC 5.62523%

0.94 20M
Securitized

Battalion Clo Xi Ltd 5.41709%

0.94 20M
Securitized

Asurion Llc

0.84 18M
Corporate

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