Closed-end management investment company that invests primarily in floating rate loans and other floating rate debt instruments.
Pioneer Floating Rate Fund, Inc. operates as a closed-ended fixed income mutual fund under the management of Pioneer Investment Management, Inc. The fund focuses its investment strategy within the fixed income markets of the United States, specifically targeting senior secured floating-rate loans. These loans provide the fund with a mechanism to adjust interest rates based on prevailing market rates, thereby potentially mitigating interest rate risk.
As part of its investment approach, Pioneer Floating Rate Fund, Inc. benchmarks its performance against the Barclays U.S. High Yield Loans Index. This index serves as a comparative measure to evaluate how effectively the fund's portfolio is performing relative to similar investments in the market. By adhering to this benchmark, the fund seeks to achieve competitive returns for its investors while managing risk within the parameters of the fixed income market.
Established on October 6, 2004, Pioneer Floating Rate Fund, Inc. is domiciled in the United States. Through its strategic focus on senior secured floating-rate loans and rigorous benchmarking practices, the fund aims to provide investors with opportunities to participate in the income potential of the fixed income market while maintaining a disciplined approach to risk management.