RPLCX Fees and Costs — T. Rowe Price Institutional Long Duration Credit Fund
Data updated: 2026-08-12
The net expense ratio is 0.45%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $6K in broker commissions, 0.0028% of average net assets, and portfolio turnover was 31%.
RPLCX Fees and Expenses
Annual operating expenses and sales charges of RPLCX. Prospectus, as of July 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.45% |
| Fee waiver | — |
| Net expense ratio | 0.45% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
RPLCX Costs Over Time
On $10,000 invested in RPLCX, assuming 5% a year before costs, total costs come to $286 over 5 years, cutting the return by 0.48% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.45%) | $47 | $148 | $259 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $48 | $157 | $286 |
| Value after costs | $10,452 | $11,420 | $12,476 |
| Impact on return, per year | 0.48% | 0.48% | 0.48% |
RPLCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0028%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): $127.6M
- Portfolio turnover (prospectus): 31%
- Securities on loan, average value: $6.6M
- Net income from securities lending: $10K (0.005% of average net assets)
RPLCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $3K | 55.23% |
| J.P. MORGAN SECURITIES LLC | $1K | 17.93% |
| BOFA SECURITIES, INC. | $850 | 14.82% |
| Citigroup Inc. | $553 | 9.64% |
| MORGAN STANLEY & CO. LLC | $136 | 2.37% |
RPLCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Deutsche Bank Securities Inc. | $15.6M | 17.37% |
| BNP PARIBAS | $10.2M | 11.31% |
| MORGAN STANLEY & CO. LLC | $9.5M | 10.60% |
| J.P. MORGAN SECURITIES LLC | $9.3M | 10.39% |
| WELLS FARGO SECURITIES, LLC | $8.4M | 9.38% |
| BMO Capital Markets Corp. | $8.2M | 9.15% |
| BARCLAYS CAPITAL INC. | $8.0M | 8.89% |
| GOLDMAN SACHS & CO. LLC | $7.7M | 8.61% |
| THE TORONTO-DOMINION BANK | $6.5M | 7.22% |
| BOFA SECURITIES, INC. | $6.4M | 7.08% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.