High Yield Opportunistic

Strategy Goal

The strategy seeks to deliver current income and the opportunity for capital appreciation by investing primarily in high yield corporate bonds, with potential to seek relative value opportunities through tactical allocations in non-high yield securities.

Commentary

Summary

Strategy Details

Strategy Highlights

Collaborative Investment Team

Experienced, tenured team with breadth and depth of sector expertise. The strategy is run in a collaborative environment, with input from all areas of the investment organization, with a focus on driving performance though relative value opportunities.

History of Credit Research

Managed by a firm with more than 50 years of experience in high-yield investing.

Disciplined Approach

Seeks to drive alpha through active management using bottom-up fundamental credit research, guided by top-down macro and thematic views, and deliberate risk budgeting.

Portfolio Highlights

Managed by a firm with more than 50 years of experience in high yield investing.
Invests primarily in high yield corporate bonds (80% minimum); may include tactical allocations of up to 20% in other high-yielding investments, such as bank loans and equities.
Investment process combines top-down macro views with bottom-up security selection and employs both fundamental credit research and quantitative valuation analysis.
Multi-dimensional risk management system limits industry and issuer concentration; Maximum of 25% in any one industry; Maximum of 5% in any one issuer.
High-yield corporate bonds primarily denominated in U.S. dollars; non-U.S. dollar investments are allowed but foreign currency exposure is typically hedged back to the U.S. dollar.

Vehicles Offered

Separate Account

Portfolio managed directly on behalf of an institutional client.

Collective Investment Trust (CIT)*

Pooled investment vehicle offered by Wilmington Trust and sub-advised by Lord Abbett with daily liquidity available to certain pension investors.

Mutual Fund

Pooled investment vehicle available to individual and institutional investors.

UCITS

Irish-domiciled pooled investment vehicle available to certain non-U.S. investors.

The Investment Team

Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

24 Years of Experience

Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

17 Years of Experience

By The Numbers

Additional Portfolio Managers

Credit Research Analysts

Years of industry experience as of 01/01/2025.

Portfolio

Performance

Important Information

Click Here for The Global Investment Performance Standards (GIPS®) Composite Report.

THIS WEBSITE IS FOR THE USE OF INSTITUTIONS, INSTITUTIONAL CONSULTANTS, AND FINANCIAL PROFESSIONALS. IT IS NOT INTENDED FOR, AND SHOULD NOT BE USED WITH, RETAIL INVESTORS.

Risks to Consider: The strategy discussed is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The strategy invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The strategy may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The strategy may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can adversely affect performance.

ICE BofA Index Information:

Source: ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofA INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofA INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

*Collective Funds:
Wilmington Trust, N.A. (the “Trustee”) serves as the Trustee of the Fund and maintains ultimate fiduciary authority over the management of, and investments made, in the Fund. The Fund is part of the Wilmington Trust Collective Investment Trust (the “Trust”) operated by the Trustee.

Wilmington Trust, N.A. Collective Investment Funds (“WTNA Funds”) are bank collective investment funds; they are not mutual funds. Wilmington Trust, N.A. serves as the Trustee of the Wilmington Trust Collective Investment Trust and maintains ultimate fiduciary authority over the management of, and investments made in, the WTNA Funds. The WTNA Funds and units therein are exempt from registration under the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended. Investments in the WTNA Funds are not deposits or obligations of or guaranteed by Wilmington Trust, and are not insured by the FDIC, the Federal Reserve, or any other governmental agency. The WTNA Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the WTNA Funds.

Participation in Collective Investment Trust Funds is limited primarily to qualified defined contribution plans and certain state or local government plans and is not available to IRAs, health and welfare plans and, in certain cases, Keogh (H.R. 10) plans. Collective Investment Trust Funds may be suitable investments for participants seeking to construct a well-diversified retirement savings program. Investors should consider the investment objectives, risks, charges and expenses of any pooled investment company carefully before investing. The Additional Fund Information and Principal Risk Definitions (PRD) contains this and other information about a Collective Investment Trust Fund and is available at www.wilmingtontrust.com/PrincipalRiskDefinitions or ask for a copy by contacting Wilmington Trust, N.A. at (866)427-6885.

Wilmington Trust is a registered service mark, used in connection with various fiduciary and financial services, including trustee, custodial, agency, and investment management services, offered to trust, individual, and institutional clients by certain subsidiaries of M&T Bank Corporation. Such subsidiaries include, but are not limited to, Manufacturers & Traders Trust Company (M&T Bank), Wilmington Trust Company (operating in Delaware only), Wilmington Trust, N.A., Wilmington Trust Investment Advisors, Inc., Wilmington Funds Management Corporation, and Wilmington Trust Investment Management, LLC. International corporate and institutional services are offered through M&T Bank Corporation’s international subsidiaries. Loans, credit cards, retail and business deposits, and other business and personal banking services and products are offered by M&T Bank, member FDIC. Wilmington Trust traces its roots to the founding of Wilmington Trust Company in 1903.

THIS WEBSITE IS FOR THE USE OF INSTITUTIONS, INSTITUTIONAL CONSULTANTS, AND FINANCIAL PROFESSIONALS. IT IS NOT INTENDED FOR, AND SHOULD NOT BE USED WITH, RETAIL INVESTORS.

Neither this website nor any of its content take into account individual client circumstances, objectives, or needs. No determination has been made regarding the suitability of any securities, financial instruments, or strategies for particular clients or prospects.

This website does not purport to provide any legal, tax, or accounting advice, and the information provided is not intended to be relied upon as a forecast or research regarding a particular asset class, sector, or the markets in general.

The information provided is not directed at any investor or category of investors and is provided solely as general information about Lord Abbett's products and services and to otherwise provide general investment education. None of the information provided should be regarded as a suggestion to engage in or refrain from any investment-related course of action as neither Lord Abbett nor its affiliates are undertaking to provide impartial investment advice, act as an impartial adviser, or give advice in a fiduciary capacity. If you are an individual retirement investor, contact your financial advisor or other fiduciary about whether any given investment idea, strategy, product or service may be appropriate for your circumstances.