PGIM Floating Rate Income Fund - Class A (FRFAX)
| Fund Assets | 2.22B |
| Expense Ratio | 1.10% |
| Min. Investment | $1,000 |
| Turnover | 86.00% |
| Dividend (ttm) | 0.61 |
| Dividend Yield | 6.63% |
| Dividend Growth | -14.06% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jan 30, 2026 |
| Previous Close | 9.12 |
| YTD Return | 0.31% |
| 1-Year Return | 4.73% |
| 5-Year Return | 30.03% |
| 52-Week Low | 8.45 |
| 52-Week High | 9.13 |
| Beta (5Y) | 0.15 |
| Holdings | 499 |
| Inception Date | Mar 30, 2011 |
About FRFAX
PGIM Floating Rate Income Fund Class A is an actively managed mutual fund focused on generating **current income** through investments in senior floating rate loans and related floating rate instruments. The fund primarily invests in **bank loans**, which make up a substantial portion of assets, complemented by allocations to asset-backed securities, investment-grade and high-yield corporate bonds, and select mortgage-backed and Treasury securities. Its portfolio is diversified across industries such as **banking, technology, consumer non-cyclical, health care, and industrials**, reflecting broad exposure to the corporate credit market. The strategy emphasizes loans and securities whose coupons reset periodically, aiming to reduce sensitivity to changes in interest rates relative to traditional fixed-rate bond funds. Managed by PGIM, the global investment management business of Prudential Financial, the fund sits within the **bank loan** category and plays a role in the market as a specialized credit vehicle offering access to leveraged loan and securitized credit markets through a professionally managed, research-driven process.
Performance
FRFAX had a total return of 4.73% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.92%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
| Symbol | Provider | Name | Expense Ratio |
|---|---|---|---|
| FFHCX | Fidelity | Fidelity Series Floating Rate High Income Fund | n/a |
Top 10 Holdings
11.92% of assets| Name | Symbol | Weight |
|---|---|---|
| Usd/Eur Fwd 20251202 Mslngb2x | n/a | 1.75% |
| Eur/Usd Fwd 20251202 Mslngb2x | n/a | 1.48% |
| Usd/Eur Fwd 20260109 Mslngb2x | n/a | 1.47% |
| Bank of Nova Scotia 7.35% | BNS.V7.35 04.27.85 | 1.41% |
| Brookfield Ppty Ret Hld | n/a | 1.31% |
| JPMorgan Chase & Co. 6.73025% | JPM.V0 PERP II | 1.01% |
| Rad Clo 19 Ltd. / Rad Clo 19 LLC 5.83444% | RAD.2023-19A B1R | 0.88% |
| Battalion Clo Xi Ltd 5.61541% | BATLN.2017-11A BR2 | 0.88% |
| The Toronto-Dominion Bank 7.25% | TD.V7.25 07.31.84 | 0.88% |
| Tenneco LLC 9.303% | TENINC.8 11.17.28 REGS | 0.85% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jan 30, 2026 | $0.04775 | Jan 30, 2026 |
| Dec 31, 2025 | $0.04786 | Dec 31, 2025 |
| Dec 19, 2025 | $0.04782 | Dec 19, 2025 |
| Nov 28, 2025 | $0.04811 | Nov 28, 2025 |
| Oct 31, 2025 | $0.0507 | Oct 31, 2025 |
| Sep 30, 2025 | $0.05132 | Sep 30, 2025 |