PGIM Floating Rate Income Fund Q1 2026 Commentary (FRFZX)
PGIM Investments·2026-06-19·via All Articles on Seeking Alpha
Summary
In the first quarter of 2026, the PGIM Floating Rate Income Fund Class Z returned 0.04% net of fees and outperformed its benchmark, the S&P UBS Leveraged Loan Index, gross of fees.
Overall sector allocation contributed to performance during the quarter, with overweights to AA CLOs, U.S. investment grade corporates, and U.S. high yield corporates contributing the most.
From a market perspective, having more risk in the portfolio, on average, over the period than the relevant benchmark detracted from performance.
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Performance Recap
In the first quarter of 2026, the PGIM Floating Rate Income Fund Class Z (FRFZX) returned 0.04% net of fees and outperformed its benchmark, the S&P UBS Leveraged Loan Index, gross of fees.
