PRXAX – T. Rowe Price GNMA I Investment Strategy | Morningstar

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Strategy

The investment seeks high current income consistent with high overall credit quality and moderate price fluctuation by investing at least 80% of its total assets in Government National Mortgage Association securities backed by the full faith and credit of the U.S. government. The fund will normally invest at least 80% of its total assets in mortgage-backed securities issued by the Government National Mortgage Association (GNMA), an agency of the U.S. Department of Housing and Urban Development. Up to 20% of its total assets may be invested in high-quality securities that are not backed by the full faith and credit of the U.S. government.

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
PRGMX	T. Rowe Price GNMA Fund	No Load	Open			Nov 26, 1985	$174.17M	0.620%	Above Average	$2,500	−$28.51M
PRXAX	T. Rowe Price GNMA Fund I Class	Institutional	Open			May 3, 2017	$142.54M	0.400%	Below Average	$500,000	−$9.97M

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