PGIM Floating Rate Income Fund- Class Z (FRFZX)
PGIM Floating Rate Income Fund- Class Z operates in the Asset Management - Income industry of the Financial Services sector, headquartered in Newark, NJ, US. The stock last traded at $8.92, up 0.00% on the session, giving a market capitalisation of $2.03B. On trailing twelve-month figures it carries a trailing P/E of -34.31, a net margin of -33.9%. Its beta of 0.11 implies it has historically moved less than the broad market.
The fund primarily aims to invest in floating rate debt instruments. At least 80% of its investable capital, defined as net assets combined with any investment-related borrowings, will be allocated to floating rate loans and other comparable debt securities. The portfolio may also include up to 20% of its total assets in senior loans that are not secured by specific collateral. Additionally, the fund has the flexibility to dedicate up to 25% of its total assets to international securities, including senior loans to foreign borrowers. These foreign investments may originate from emerging market countries and can be denominated in either U.S. dollars or other non-U.S. currencies.
PGIM Floating Rate Income Fund- Class Z is most often compared with the following Financial Services names: