THX to John for pointing out the new TRP floater fund. I couldn't get his linker to connect but delved into it and found this tid-bit. Joe Biden scores bit higher. Pew Research reported 2010 that 41% of Americans could not name current VP.http://www.prnewswire.com/news-releases/t-rowe-price-launches-floating-rate-fund-for-individual-investors-127947908.html
Forgive my not using article title for the MFO header, but I thought that stat was the real news here.
Re: the fund. Went to TRP and had a look. Cant see a compelling case - at least for me. Realize folks starvin for yield which part explains why they opened this bird up to retail investors. Shes down better than half percent YTD. Carries same TRP warning as their HY fund - not to put a "significant" portion of your assets in it. Says most of the holdings likely to be below investment grade. About same ER .85 as their high yield fund that's been around forever with a proven manager. Do expect to see folks flock to it and it may get off to good start. Just not seein it personally.