T Rowe Price has launched a floating rate fund for individual investors. The new product will invest in floating rate loans or leveraged loans, which have interest rates that reset either quarterly or monthly. Justin Gerbereux and Paul Massaro, who co-manage the Institutional Floating Rate Fund, will also handle the new vehicle. T Rowe Price, which was managing $2.2 billion in floating rate strategies as of June 30, launched the Institutional Floating Rate Fund for advisers and institutional investors in 2008.
Click here for the release from PR Newswire.