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T. Rowe Price Instl Floating Rate (RPIFX)

10.28 0.00(0.00%) Jul 23

Profile as of Jun 29, 2014Get Profile for:
T. Rowe Price Instl Floating Rate
100 East Pratt StreetBaltimore MD 21202
Phone: 800-638-8797
Fund Overview 
Category:Bank Loan
Fund Family:T. Rowe Price
Net Assets:3.66B
Year-to-Date Return:2.09%
Morningstar Rating:3 stars
Fund Inception Date:Jan 31, 2008
Morningstar Style Box 
Bank Loan
[View Category Definition]
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Management Information 
Paul M. Massaro
Lead Manager since May 1, 2009
"Paul Massaro is a portfolio manager for high yield strategies in the Fixed Income Division at T. Rowe Price. He is chairman of the Investment Advisory Committee and portfolio manager of the Floating Rate Bank Loan Strategy. Mr. Massaro also is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price Trust Company. Mr. Massaro has 13 years of investment experience, 10 of which have been at T. Rowe Price. Prior to joining the firm in 2003, he worked in equity research at Banc of America Securities and in credit research at J.P. Morgan Chase, both in New York. Mr. Massaro 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. He also earned the Chartered Financial Analyst designation. "
Investment Information 
Min Initial Investment:1,000,000
Min Initial Investment, IRA:N/A
Min Initial Investment, AIP:N/A
Min Subsequent Investment:N/A
Min Subsequent Investment, IRA:N/A
Min Subsequent Investment, AIP:N/A
RPIFX can be purchased from 34 brokerages.

Fund Summary 
The investment seeks high current income and, secondarily, capital appreciation. The fund invests at least 80% of net assets 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. It may invest up to 20% of its net assets in fixed rate debt securities. The fund's weighted average maturity generally is expected to be in the 4- to 8-year range. It may invest up to 20% of its total assets in non-U.S. dollar-denominated loans and debt securities.

Fund Operations 
Last Dividend (Jun 29, 2014) : 0.03
Last Cap Gain : 0.00
Annual Holdings Turnover (Jul 21, 2014) : 83.30%
Average for Category:53.34%
Fees & Expenses 
ExpenseRPIFXCategory Avg
Annual Report Expense Ratio (net):0.56%1.11%
Prospectus Net Expense Ratio:0.56%N/A
Prospectus Gross Expense Ratio:0.56%N/A
Max 12b1 Fee:N/AN/A
Max Front End Sales Load:N/A3.05%
Max Deferred Sales Load: N/A1.62%
3 Yr Expense Projection*:179475
5 Yr Expense Projection*:313743
10 Yr Expense Projection*:7011,537
* Per $10,000 invested