PAFRX – T. Rowe Price Floating Rate Adv Investment Strategy | Morningstar

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Strategy

The investment seeks high current income and, secondarily, capital appreciation. 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.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
PAFRX	T. Rowe Price Floating Rate Fund Advisor Class	No Load	Open			Jul 29, 2011	$8.38M	0.970%	Above Average	$2,500	−$7.07M
PRFRX	T. Rowe Price Floating Rate Fund	No Load	Open			Jul 29, 2011	$1.75B	0.770%	Average	$2,500	−$364.16M
TFAIX	T. Rowe Price Floating Rate Fund I Class	Institutional	Open			Nov 29, 2016	$979.29M	0.640%	Low	$500,000	−$72.19M
TRIZX	T. Rowe Price Floating Rate Fund Z Class	Institutional	Limited		—	Mar 16, 2020	$1.30B	0.020%	Low	$0	−$43.09M

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