Nasdaq - Delayed Quote USD

T. Rowe Price Floating Rate Adv (PAFRX)

9.26
0.00
(0.00%)
As of 8:06:56 AM EDT. Market Open.

Fund Summary

The fund normally invests at least 80% of its net assets (including 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.

T. Rowe Price Floating Rate Adv

Baltimore, Maryland 21202
100 East Pratt Street

Fund Overview

Category Bank Loan
Fund Family T. Rowe Price
Net Assets 4.07B
YTD Return 0.51%
Yield 7.59%
Morningstar Rating
Inception Date Mar 16, 2020

Fund Operations

Last Dividend 0.21
Last Cap Gain -8.00
Holdings Turnover 77.90%
Average for Category --

Fees & Expenses

Expense PAFRX Category Average
Annual Report Expense Ratio (net) 0.97% 1.03%
Prospectus Net Expense Ratio 0.97% --
Prospectus Gross Expense Ratio 1.07% --
Max 12b1 Fee -- --
Max Front End Sales Load -- 3.08%
Max Deferred Sales Load -- 1.05%
3 Yr Expense Projection 0 --
5 Yr Expense Projection 0 --
10 Yr Expense Projection 0 --

Management Information

Paul M. Massaro, Lead Manager since July 29, 2011
Paul Massaro is a vice president of T. Rowe Price Group, Inc.; T. Rowe Price Associates, Inc.; and T. Rowe Price Trust Company. He is a portfolio manager for high yield strategies in the Fixed Income Division. Paul is executive vice president of the T. Rowe Price Institutional Income Funds, Inc.; and the T. Rowe Price Floating Rate Fund, Inc. He also is chairman of the Investment Advisory Committee and portfolio manager of the Floating Rate and Institutional Floating Rate Funds. Prior to joining T. Rowe Price in 2003, Paul worked in equity research at Banc of America Securities and at J.P. Morgan Chase, both in New York. He earned a B.S. in business management from Cornell University and an M.B.A. in finance and strategic management from The Wharton School, University of Pennsylvania. Paul also has earned the Chartered Financial Analyst designation.

Morningstar Style Box

Morningstar Category

While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

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