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<!-- Generated by DFIN XBRL Schema Document - http://www.dfinsolutions.com/ - on 19-06-2026 12:59:04 AM -->
<!-- Copyright(c) 2026 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
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				<link:label xlink:type="resource" xlink:label="label_C000002278Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Class B shares</link:label>
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				<link:label xlink:type="resource" xlink:label="label_C000002282Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Class Y</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000002282Member" xlink:to="label_C000002282Member"/>
				<link:label xlink:type="resource" xlink:label="label_C000002282Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">C000002282 [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000002282Member" xlink:to="label_C000002282Member_2"/>
				<link:loc xlink:type="locator" xlink:href="#pft_C000002283Member" xlink:label="C000002283Member"/>
				<link:label xlink:type="resource" xlink:label="label_C000002283Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Class A</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000002283Member" xlink:to="label_C000002283Member"/>
				<link:label xlink:type="resource" xlink:label="label_C000002283Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">C000002283 [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000002283Member" xlink:to="label_C000002283Member_2"/>
				<link:loc xlink:type="locator" xlink:href="#pft_C000185578Member" xlink:label="C000185578Member"/>
				<link:label xlink:type="resource" xlink:label="label_C000185578Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Class T Shares</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000185578Member" xlink:to="label_C000185578Member"/>
				<link:label xlink:type="resource" xlink:label="label_C000185578Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">C000185578 [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000185578Member" xlink:to="label_C000185578Member_2"/>
				<link:loc xlink:type="locator" xlink:href="#pft_C000203062Member" xlink:label="C000203062Member"/>
				<link:label xlink:type="resource" xlink:label="label_C000203062Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Class R6</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000203062Member" xlink:to="label_C000203062Member"/>
				<link:label xlink:type="resource" xlink:label="label_C000203062Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">C000203062 [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000203062Member" xlink:to="label_C000203062Member_2"/>
				<link:loc xlink:type="locator" xlink:href="#pft_FocusOfInvestmentsRiskMember" xlink:label="FocusOfInvestmentsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_FocusOfInvestmentsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Focus of investments risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FocusOfInvestmentsRiskMember" xlink:to="label_FocusOfInvestmentsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#pft_InterestRateRisksMember" xlink:label="InterestRateRisksMember"/>
				<link:label xlink:type="resource" xlink:label="label_InterestRateRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest rate risks [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateRisksMember" xlink:to="label_InterestRateRisksMember"/>
				<link:loc xlink:type="locator" xlink:href="#pft_CreditRisksMember" xlink:label="CreditRisksMember"/>
				<link:label xlink:type="resource" xlink:label="label_CreditRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit risks [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditRisksMember" xlink:to="label_CreditRisksMember"/>
				<link:loc xlink:type="locator" xlink:href="#pft_ImpairmentOfCollateralRiskMember" xlink:label="ImpairmentOfCollateralRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ImpairmentOfCollateralRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impairment of collateral risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentOfCollateralRiskMember" xlink:to="label_ImpairmentOfCollateralRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#pft_FloatingRateLoanLiquidityRiskMember" xlink:label="FloatingRateLoanLiquidityRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_FloatingRateLoanLiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Floating rate loan liquidity risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FloatingRateLoanLiquidityRiskMember" xlink:to="label_FloatingRateLoanLiquidityRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#pft_PrepaymentRisksMember" xlink:label="PrepaymentRisksMember"/>
				<link:label xlink:type="resource" xlink:label="label_PrepaymentRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Prepayment risks [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaymentRisksMember" xlink:to="label_PrepaymentRisksMember"/>
				<link:loc xlink:type="locator" xlink:href="#pft_DerivativesRisksMember" xlink:label="DerivativesRisksMember"/>
				<link:label xlink:type="resource" xlink:label="label_DerivativesRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivatives risks [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativesRisksMember" xlink:to="label_DerivativesRisksMember"/>
				<link:loc xlink:type="locator" xlink:href="#pft_ForeignInvestmentsRiskMember" xlink:label="ForeignInvestmentsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ForeignInvestmentsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign investments risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignInvestmentsRiskMember" xlink:to="label_ForeignInvestmentsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#pft_LargeShareholderTransactionRiskMember" xlink:label="LargeShareholderTransactionRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_LargeShareholderTransactionRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Large shareholder transaction risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LargeShareholderTransactionRiskMember" xlink:to="label_LargeShareholderTransactionRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#pft_ManagementAndOperationalRiskMember" xlink:label="ManagementAndOperationalRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ManagementAndOperationalRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Management and operational risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ManagementAndOperationalRiskMember" xlink:to="label_ManagementAndOperationalRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#pft_MarketRisksMember" xlink:label="MarketRisksMember"/>
				<link:label xlink:type="resource" xlink:label="label_MarketRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Market risks [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketRisksMember" xlink:to="label_MarketRisksMember"/>
            </link:labelLink>
         </link:linkbase>
      </xs:appinfo>
  </xs:annotation>
	<xs:element name="S000000773Member" id="pft_S000000773Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="BloombergUSAggregateIndexMember" id="pft_BloombergUSAggregateIndexMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MorningstarLSTAUSLeveragedLoanIndexMember" id="pft_MorningstarLSTAUSLeveragedLoanIndexMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000002278Member" id="pft_C000002278Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000002279Member" id="pft_C000002279Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000002280Member" id="pft_C000002280Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000002281Member" id="pft_C000002281Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000002282Member" id="pft_C000002282Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000002283Member" id="pft_C000002283Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000185578Member" id="pft_C000185578Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="C000203062Member" id="pft_C000203062Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="FocusOfInvestmentsRiskMember" id="pft_FocusOfInvestmentsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="InterestRateRisksMember" id="pft_InterestRateRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CreditRisksMember" id="pft_CreditRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ImpairmentOfCollateralRiskMember" id="pft_ImpairmentOfCollateralRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="FloatingRateLoanLiquidityRiskMember" id="pft_FloatingRateLoanLiquidityRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="PrepaymentRisksMember" id="pft_PrepaymentRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="DerivativesRisksMember" id="pft_DerivativesRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ForeignInvestmentsRiskMember" id="pft_ForeignInvestmentsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LargeShareholderTransactionRiskMember" id="pft_LargeShareholderTransactionRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ManagementAndOperationalRiskMember" id="pft_ManagementAndOperationalRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MarketRisksMember" id="pft_MarketRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>

</xs:schema>
