Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 12/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
12.9%
1 yr return
17.2%
3 Yr Avg Return
3.7%
5 Yr Avg Return
6.9%
Net Assets
$814 M
Holdings in Top 10
31.8%
Expense Ratio 1.45%
Front Load N/A
Deferred Load N/A
Turnover 42.20%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
$1,000
Fund Type
Open End Mutual Fund
Name
As of 12/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The fund seeks to invest in a broadly diversified global portfolio of investments, including U.S. and international stocks, bonds and short-term securities, and alternative investments. The fund uses an active asset allocation strategy in conjunction with fundamental research to select individual investments. T. Rowe Price, the fund’s investment adviser, allocates the fund’s assets among various asset classes and market sectors based on its assessment of U.S. and global
economic and market conditions, interest rate movements, industry and issuer conditions and business cycles, and other relevant factors. Under normal conditions, the fund’s portfolio will consist of approximately 60% stocks; 30% bonds, money market securities, and other debt instruments; and 10% alternative investments (each as a percentage of the fund’s net assets).
The fund may also gain exposure to specific asset classes through the use of certain types of derivatives or by investing in other T. Rowe Price mutual funds and exchange-traded funds that focus their investments in a given asset class.
T. Rowe Price may adjust the fund’s portfolio and overall risk profile by making tactical decisions to overweight or underweight particular asset classes or sectors based on its outlook for the global economy and securities markets, as well as by adjusting the fund’s overall derivatives exposure and allocations to alternative investments.
The fund expects to normally invest approximately half of its equity investments in U.S. stocks and half in international stocks. When deciding upon overall allocations to stocks, T. Rowe Price examines relative values and prospects among growth- and value-oriented stocks, small- to large-cap stocks, and stocks of companies involved in activities related to commodities and other real assets, as well as by evaluating economic conditions affecting the U.S. and international developed and emerging markets. The fund has the flexibility to purchase below investment-grade bonds (also called high-yield bonds or junk bonds).
The fund expects to normally invest approximately one-third of its debt investments in international issuers, and the fund may invest up to 25% of its total assets in debt instruments that are rated below investment grade or deemed to be of comparable quality by T. Rowe Price. The fund expects to invest in a diversified portfolio of debt instruments, including U.S. dollar-denominated and non-U.S. dollar-denominated obligations of U.S. and international issuers (including issuers in emerging markets). The fund may purchase securities of any maturity. Investments are chosen across the entire government, inflation-linked, corporate, and mortgage-backed and asset-backed securities markets, as well as bank loans. When deciding whether to adjust the duration or credit risk exposure of the fund’s debt investments or the fund’s allocations among various sectors, the adviser weighs factors such as the overall outlook for inflation and the global economy, expected interest rate movements and currency valuations, and the yield advantage that lower-rated instruments may offer over investment-grade bonds.
The fund invests in alternative investments, including hedge funds and other private or registered investment companies that, in the opinion of T. Rowe Price, have the potential to produce attractive long-term risk-adjusted returns and exhibit a relatively low correlation of returns to more traditional asset classes. The fund’s alternative investments are expected to be less connected to movements in the major equity and bond markets. This is expected to enhance the fund’s overall diversification and offer potentially greater downside protection for the fund than more typical equity investments.
The fund may use a variety of derivatives, such as futures, forwards, and swaps for a number of purposes such as for exposure or hedging. Specifically, the fund uses options, index futures,
forward currency exchange contracts, and interest rate futures. The fund expects to primarily use these instruments to efficiently access or adjust exposure to certain market segments, in an attempt to manage portfolio volatility, or to benefit from what the adviser believes is a risk premium in the options market (for example, an option’s price reflects a greater degree of volatility that would typically be realized in the market). The fund’s use of options primarily involves selling (also known as “writing”) and buying call options (or options on related futures contracts) involving stock and/or investment-grade bond indexes in an effort to enhance risk-adjusted returns, although the fund may buy or sell options for other purposes. These option overlay strategies are generally designed to benefit from a risk premium in the options market and dampen the fund’s overall volatility when compared to a pure bond or equity portfolio. The fund’s use of futures typically involves buying equity index futures contracts on an index as an efficient means of gaining exposure to a particular segment of the U.S. stock market (for example, U.S. large-cap stocks), as well as using Treasury futures to adjust portfolio duration or to reduce the fund’s overall volatility to manage the volatility of the fund or one of its underlying strategies. The fund uses forward currency exchange contracts primarily to moderate the currency risk associated with the fund’s international equity holdings, which are commonly non-U.S. dollar-denominated. Interest rate derivatives would typically be used to manage the fund’s exposure to interest rate changes or to adjust portfolio duration.
Period | PAFGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 12.9% | -23.7% | 16.4% | 59.23% |
1 Yr | 17.2% | -8.9% | 48.3% | 80.26% |
3 Yr | 3.7%* | -2.2% | 16.4% | 34.52% |
5 Yr | 6.9%* | -0.7% | 13.4% | 24.30% |
10 Yr | 6.3%* | 0.9% | 11.8% | N/A |
* Annualized
Period | PAFGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.9% | -40.8% | 20.6% | 60.53% |
2022 | -17.1% | -21.0% | 24.5% | 5.24% |
2021 | 1.5% | -24.2% | 27.8% | 10.75% |
2020 | 13.5% | -23.1% | 11.7% | 21.64% |
2019 | 16.5% | -100.0% | 20.6% | 11.72% |
Period | PAFGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 12.9% | -23.7% | 16.4% | 57.94% |
1 Yr | 17.2% | -12.8% | 48.3% | 72.25% |
3 Yr | 3.7%* | -3.4% | 16.4% | 30.35% |
5 Yr | 6.9%* | -1.1% | 13.4% | 22.88% |
10 Yr | 6.3%* | 0.9% | 11.8% | N/A |
* Annualized
Period | PAFGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.5% | -40.8% | 20.6% | 60.53% |
2022 | -14.8% | -21.0% | 24.5% | 5.24% |
2021 | 8.9% | -24.2% | 27.8% | 10.75% |
2020 | 14.4% | -23.1% | 11.7% | 18.61% |
2019 | 18.9% | -2.9% | 23.1% | 19.89% |
PAFGX | Category Low | Category High | PAFGX % Rank | |
---|---|---|---|---|
Net Assets | 814 M | 1.12 M | 110 B | 37.80% |
Number of Holdings | 1563 | 2 | 10961 | 9.39% |
Net Assets in Top 10 | 263 M | -31.7 M | 22 B | 31.11% |
Weighting of Top 10 | 31.76% | 10.8% | 100.0% | 39.69% |
Weighting | Return Low | Return High | PAFGX % Rank | |
---|---|---|---|---|
Stocks | 85.46% | -45.72% | 98.42% | 54.91% |
Bonds | 12.48% | -39.76% | 93.84% | 41.54% |
Cash | 1.80% | -97.12% | 185.58% | 73.49% |
Convertible Bonds | 0.37% | 0.00% | 25.49% | 42.17% |
Preferred Stocks | 0.25% | -0.03% | 14.00% | 43.22% |
Other | 0.25% | -1.25% | 197.12% | 14.82% |
Weighting | Return Low | Return High | PAFGX % Rank | |
---|---|---|---|---|
Technology | 16.76% | 0.00% | 39.48% | 47.35% |
Healthcare | 16.39% | 0.00% | 30.30% | 7.64% |
Financial Services | 15.48% | 0.00% | 30.34% | 38.85% |
Consumer Cyclical | 12.07% | 0.00% | 20.84% | 24.42% |
Industrials | 10.74% | 0.09% | 32.39% | 47.77% |
Communication Services | 8.11% | 0.00% | 28.59% | 25.69% |
Consumer Defense | 5.10% | 0.00% | 31.85% | 62.42% |
Basic Materials | 4.72% | 0.00% | 60.23% | 67.30% |
Utilities | 4.26% | 0.00% | 40.29% | 36.31% |
Real Estate | 3.50% | 0.00% | 90.14% | 56.05% |
Energy | 2.89% | 0.00% | 38.61% | 85.99% |
Weighting | Return Low | Return High | PAFGX % Rank | |
---|---|---|---|---|
US | 64.63% | -4.82% | 95.75% | 41.96% |
Non US | 20.84% | -46.69% | 57.06% | 63.05% |
Weighting | Return Low | Return High | PAFGX % Rank | |
---|---|---|---|---|
Government | 50.61% | 0.00% | 98.64% | 19.42% |
Corporate | 27.20% | 0.00% | 99.90% | 48.85% |
Securitized | 3.51% | 0.00% | 83.28% | 56.58% |
Cash & Equivalents | 1.80% | 0.10% | 100.00% | 52.19% |
Municipal | 0.81% | 0.00% | 31.28% | 7.10% |
Derivative | -0.15% | 0.00% | 41.88% | 44.26% |
Weighting | Return Low | Return High | PAFGX % Rank | |
---|---|---|---|---|
US | 12.48% | -177.12% | 87.76% | 46.76% |
Non US | 0.00% | -39.00% | 137.36% | 27.97% |
PAFGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.45% | 0.16% | 2.71% | 36.12% |
Management Fee | 0.69% | 0.00% | 1.70% | 48.82% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 25.10% |
Administrative Fee | 0.15% | 0.01% | 0.70% | 73.16% |
PAFGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.50% | N/A |
PAFGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
PAFGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 42.20% | 0.00% | 441.00% | 34.21% |
PAFGX | Category Low | Category High | PAFGX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.06% | 0.00% | 10.92% | 45.74% |
PAFGX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Monthly | Monthly |
PAFGX | Category Low | Category High | PAFGX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.70% | -5.20% | 6.33% | 78.00% |
PAFGX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 19, 2023 | $0.329 | OrdinaryDividend |
Dec 19, 2022 | $0.350 | OrdinaryDividend |
Dec 16, 2021 | $1.100 | OrdinaryDividend |
Dec 16, 2020 | $0.120 | OrdinaryDividend |
Dec 17, 2019 | $0.170 | OrdinaryDividend |
Dec 17, 2019 | $0.110 | CapitalGainShortTerm |
Dec 17, 2018 | $0.060 | CapitalGainShortTerm |
Dec 17, 2018 | $0.200 | OrdinaryDividend |
Dec 18, 2017 | $0.060 | CapitalGainShortTerm |
Dec 18, 2017 | $0.035 | CapitalGainLongTerm |
Dec 18, 2017 | $0.100 | OrdinaryDividend |
Dec 16, 2016 | $0.040 | CapitalGainShortTerm |
Dec 16, 2016 | $0.120 | OrdinaryDividend |
Dec 16, 2015 | $0.070 | CapitalGainShortTerm |
Dec 16, 2015 | $0.100 | OrdinaryDividend |
Dec 16, 2014 | $0.160 | CapitalGainShortTerm |
Dec 16, 2014 | $0.040 | CapitalGainLongTerm |
Dec 16, 2014 | $0.110 | OrdinaryDividend |
Dec 17, 2013 | $0.060 | OrdinaryDividend |
Dec 17, 2013 | $0.010 | CapitalGainLongTerm |
Start Date
Tenure
Tenure Rank
May 28, 2013
9.01
9.0%
Charles M. Shriver is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Associates, Inc. He is a portfolio manager for several asset allocation portfolios within the Asset Allocation Group. He is the president of the Global Allocation, Balanced, Spectrum, and Personal Strategy Funds and chairman of their Investment Advisory Committees. Charles is also a member of the Investment Advisory Committee for the Real Assets Fund. He is cochair of the Asset Allocation Committee and has been with the firm since 1991. Charles earned a BA in economics and rhetoric/communications studies from the University of Virginia, an MSF in finance from Loyola University Maryland, and a graduate diploma in public economics from Stockholm University. He has earned the Chartered Financial Analyst designation.
Start Date
Tenure
Tenure Rank
Mar 01, 2020
2.25
2.3%
Toby Thompson is a portfolio manager within the Multi-Asset Division. Mr. Thompson is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Associates, Inc. Mr. Thompson earned a B.S. in business and economics from Towson University and an MBA in finance from Loyola University Maryland. He has earned the Chartered Financial Analyst and Chartered Alternative Investment Analyst designations.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.03 | 30.27 | 6.52 | 9.25 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
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