T. Rowe Price Floating Rate Multi-Sector Account Portfolio
Data updated: 2024-05-10
C000111137 — T. Rowe Price Floating Rate Multi-Sector Account Portfolio. Alternative · $3.75M AUM. Holdings, fees, performance and SEC filings.
C000111137 Fund Overview
T. Rowe Price Floating Rate Multi-Sector Account Portfolio is a US mutual fund managed by T. Rowe Price Multi-Sector Account Portfolios, Inc., categorised as Alternative. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: T. Rowe Price Multi-Sector Account Portfolios, Inc.
- Category: Alternative
- Assets under management: $3.75M
- 1-year return: 11.1%
- SEC CIK: 0001533490
- SEC series ID: S000036338
- Share class ID: C000111137
C000111137 Investment Objective and Strategy
T. Rowe Price Floating Rate Multi-Sector Account Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by T. Rowe Price Multi-Sector Account Portfolios, Inc..
Investment objective
The fund seeks high current income and,
Principal investment strategy
The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) 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. In many cases, they are issued in connection with recapitalizations, acquisitions, leveraged buyouts, and refinancings. Most, if not all, of the loans in which the fund invests are rated below investment grade (below BBB or an equivalent rating) or are not rated by established credit rating agencies. The loans in which the fund invests may be referred to as leveraged loans because the borrowing companies often have significantly more debt than equity. The loans held by the fund may be senior or subordinate obligations of the borrower, although the fund normally invests the majority of its assets in senior floating rate loans.
In the event of bankruptcy, holders of senior floating rate loans are typically paid (to the extent assets are available) before certain other creditors of the borrower (e.g., bondholders and stockholders). Holders of subordinate loans may be paid after more senior bondholders. Loans may or may not be secured by collateral. There is no limit on the funds investments in unsecured loans or in companies involved in bankruptcy proceedings, reorganizations, or financial restructurings. Floating rate loans have interest rates that reset periodically (typically quarterly or monthly). The interest rates on floating rate loans are generally based on a percentage above LIBOR (the London Interbank Offered Rate), a U.S. banks prime or base rate, the overnight federal funds rate, or another rate. Floating rate loans may be structured and administered by a financial institution that acts as the agent of the lenders participating in the floating rate loan.
The fund may acquire floating rate loans directly from a lender or through the agent, as an assignment from another lender who holds a floating rate loan, or as a participation interest in another lenders floating rate loan or portion thereof. In buying and selling loans, the fund relies on its fundamental analysis of each company and the companys ability to pay principal and interest in light of its current financial condition, its industry position, and general economic and market conditions. The fund may purchase other floating rate debt instruments with credit and interest rate characteristics similar to the floating rate loans that it purchases. In addition to the funds investments in loans, the fund may invest in a variety of debt securities, such as government and agency debt obligations, and investment-grade and high yield corporate bonds.
The fund may invest up to 20% of its net assets in fixed rate debt instruments. High yield bonds, also known as junk bonds, are rated below investment grade and should be considered speculative. They generally provide high income in an effort to compensate investors for their higher risk of default, which is the failure to make required interest or principal payments. High yield bond issuers include small or relatively new companies lacking the history or capital to merit investment grade status, former blue chip companies downgraded because of financial problems, companies electing to borrow heavily to finance or avoid a takeover or buyout, and firms with heavy debt loads. The fund has considerable flexibility in seeking higher yields. There are no maturity restrictions, so the fund can purchase longer-term loans and bonds, which tend to have higher yields (but may be more volatile) than shorter-term loans and bonds.
Most assets will typically be invested in U.S. dollar-denominated floating rate loans and debt instruments, including U.S. dollar-denominated bonds or loans of foreign issuers or lenders. The fund may also invest up to 20% of its total assets in non-U.S. dollar-denominated loans and debt instruments (including instruments of issuers in emerging markets) in keeping with the funds investment objective. The fund may sell holdings for a variety of reasons, such as to adjust the portfolios average maturity, duration, or overall credit quality, to shift assets into and out of higher-yielding loans or instruments, or to reduce its exposure to certain loans or instruments.
C000111137 Holdings
Top 1 holdings of T. Rowe Price Floating Rate Multi-Sector Account Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| T. Rowe Price Government Reserve Fund | 95.86% |
C000111137 Portfolio Allocation
Asset-class allocation of T. Rowe Price Floating Rate Multi-Sector Account Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Cash & Equivalents | 95.9% |
C000111137 Performance
Total returns for C000111137 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 11.1% |
| 3 years (annualised) | 5.8% |
C000111137 Risk Information
Risk metrics for C000111137, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.5%
C000111137 Costs and Fees
C000111137 costs about $3 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.03%
- Gross expense ratio: 0.03%
- Portfolio turnover: 34%
- Brokerage commissions: 0.60 bps of average net assets (SEC N-CEN)
C000111137 Cashflows
Over the 12 months to 2024-02, T. Rowe Price Floating Rate Multi-Sector Account Portfolio had net inflows of $7.90M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-02 | $5.12M |
| 2024-01 | $42.13K |
| 2023-12 | $746.34K |
| 2023-11 | $46.19K |
| 2023-10 | $170.80K |
| 2023-09 | $47.51K |
C000111137 Debt Constituents
No individual debt constituents are reported in T. Rowe Price Floating Rate Multi-Sector Account Portfolio's latest SEC N-PORT filing.
C000111137 Prospectus and SEC Filings
Official T. Rowe Price Floating Rate Multi-Sector Account Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-06-29
- Prospectus (485BPOS) — filed 2022-06-29
- Prospectus (485BPOS) — filed 2021-06-28
- Portfolio holdings (N-PORT) — filed 2024-04-25
- Portfolio holdings (N-PORT) — filed 2024-01-26
- Portfolio holdings (N-PORT) — filed 2023-10-27
- Annual census (N-CEN) — filed 2024-05-10
- Annual census (N-CEN) — filed 2023-05-10
Related Funds
Other Alternative funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.