PGIM Floating Rate Income Fund- Class Z
FRFZX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- Newark, NJ 07102 Newark NJ United States of America 07102
- IPO Date
- Mar 31, 2011
- CIK
- 0000717819
- Website
- pgim.com
- Similar Companies
- Business
- PGIM Floating Rate Income Fund - Class Z (FRFZX) is a mutual fund managed by PGIM Investments LLC, a subsidiary of PGIM, the global investment management business of Prudential Financial, Inc. The fund seeks total return, principally through high current income, by investing primarily in floating or adjustable rate instruments including senior loans to corporations, floating rate notes, and other debt securities with interest rates that reset periodically. Its portfolio includes leveraged loans, high yield bonds, and collateralized loan obligations across various industries such as technology, healthcare, and consumer services; the fund employs active management to select securities with strong credit quality and favorable risk-adjusted returns. Founded in 2011 and domiciled in the United States with administrative operations in Newark, New Jersey, the fund operates globally, targeting investments in U.S. and international issuers while serving institutional and retail investors seeking income in rising interest rate environments. PGIM Floating Rate Income Fund maintains share classes including Class Z for qualified investors with low expense ratios and no sales loads; it is part of PGIM's fixed income offerings that encompass a broad range of strategies from core bonds to multi-sector credit. In recent developments, PGIM announced enhancements to its liquid credit capabilities in 2024, including expanded access to private credit opportunities integrated into open-end funds like FRFZX to improve yield potential amid higher-for-longer rates; the fund benefited from portfolio repositioning toward shorter-duration floating rate assets following Federal Reserve rate hikes. Additionally, Prudential Financial completed the acquisition of PGIM Real Estate's partial stake in a major logistics portfolio in late 2024, bolstering PGIM's overall asset management scale, while PGIM Investments launched new ESG-integrated fixed income products in early 2025, though FRFZX remains focused on traditional floating rate income without explicit ESG mandates. These changes reflect PGIM's strategic emphasis on income generation and portfolio diversification in a volatile fixed income market.