Special Situations Income Fund
![fund alert](/etc.clientlibs/lordabbett/clientlibs/clientlib-base/resources/images/share_notification_taxFdPC.jpg)
October 23 is the quarterly deadline to redeem Special Situations Income Fund.
Daily price w/o sales charge as of 07/26/2024
$9.33
$0.01
YTD Returns w/o sales charge as of 07/26/2024
6.65%
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
The fund seeks to deliver high current income and potential total return over a full market cycle by investing in stressed corporate debt and complex business structures with a focus on downside mitigation.
Yield
Average Yield to Maturity as of 06/28/2024 |
10.58% |
Subsidized2 | Un-Subsidized3 | |
---|---|---|
w/o sales charge | 10.11% | 8.81% |
Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.
Fund Basicsas of 06/28/2024
- Total Net Assets
- $114.13 M
- Inception Date
- 09/13/2021
- Dividend Frequency
- Monthly
- Fund Gross Expense Ratio
- 1.64%
- Fund Net Expense Ratio
- 0.25%
- Number of Holdings
- 53
Fund Expense Ratio :
Gross 1.64%
Net 0.25%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | 5.93% | 13.95% | - | - | - | 6.17% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | 4.44% | 11.04% | - | - | - | - |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 1.64%
Net 0.25%
Fund Expense Ratio :
Gross 1.64%
Net 0.25%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | 5.93% | 13.95% | - | - | - | 6.17% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | 4.44% | 11.04% | - | - | - | - |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 1.64%
Net 0.25%
The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect sales charges, which are not applicable to Class I Shares. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.
Performance
Performance
Average Yield to Maturity as of 06/28/2024
30-Day Standardized Yield 1 as of 06/30/2024
Subsidized2 | Un-Subsidized3 | |
---|---|---|
w/o sales charge | 10.11% | 8.81% |
Fund Expense Ratio :
Gross 1.64%
Net 0.25%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | 5.93% | 13.95% | - | - | - | 6.17% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | 4.44% | 11.04% | - | - | - | - |
w/ sales charge | 5.93% | 13.95% | - | - | - | 6.17% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 1.64%
Net 0.25%
Fund Expense Ratio :
Gross 1.64%
Net 0.25%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | 5.93% | 13.95% | - | - | - | 6.17% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | 4.44% | 11.04% | - | - | - | - |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 1.64%
Net 0.25%
The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect sales charges, which are not applicable to Class I Shares. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.
Year | Fund Returns | CS Leveraged Loan Index |
---|
2023 | 16.33% | 13.04% |
2022 | -4.54% | -1.06% |
Year | Q1 | Q2 | Q3 | Q4 |
---|
2024 | 3.65% | 2.19% | - | - |
2023 | 3.94% | 4.04% | 3.12% | 4.32% |
2022 | 1.06% | -5.55% | -0.06% | 0.06% |
Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.
NAV Historical Prices
Date | Net Asset Value |
---|
Portfolio
Portfolio
Type | Assets |
---|---|
Bank Loans | |
U.S. High Yield Corporate | |
Emerging Market | |
Non-U.S. High Yield Corporate | |
Cash |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
Rating | Assets |
---|---|
Less than 1 year | |
1-2.99 years | |
3-4.99 years | |
5-6.99 years | |
7-9.99 years |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distribution as of 06/28/2024
Rating | Assets |
---|---|
BB | |
B | |
CCC | |
Not Rated |
Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.
Portfolio Details as of 06/28/2024
- Total Net Assets
- $114.13 M
- Average Effective Duration
- 0.9 Years
- Average Life
- 2.94 Years
- Average Maturity
- 4.74 Years
- Number of Issues
- 53
- Average Yield to Maturity
- 10.58%
To view definitions for the above Portfolio Details, Click here.
Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.
Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.
Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.
All Holdings as of05/31/2024
Holding | Coupon | Maturity | Assets |
---|
EPIC Y-Grade Services LP | 11.052% | 06/29/2029 | 4.8% |
DONCASTERS FINANCE US LLC | 11.826% | 04/23/2030 | 4.1% |
BARCLAYS CAPITAL | 0.010% | 06/03/2024 | 3.9% |
Park-Ohio Industries Inc | 6.625% | 04/15/2027 | 3.3% |
Cornerstone Building Brands Inc | 10.942% | 08/01/2028 | 3.2% |
Full House Resorts Inc | 8.250% | 02/15/2028 | 3.2% |
WaterBridge Midstream Operating LLC | 11.335% | 06/22/2026 | 3.1% |
FOGO DE CHAO INC | 10.079% | 09/30/2030 | 3.1% |
LSF12 BADGER BIDCO LLC | 11.329% | 08/30/2030 | 3.0% |
Arcline FM Holdings LLC | 10.321% | 06/23/2028 | 2.7% |
USIC Holdings Inc | 12.064% | 05/14/2029 | 2.7% |
Nabors Industries Ltd | 7.500% | 01/15/2028 | 2.7% |
HRNI Holdings LLC | 9.702% | 12/11/2028 | 2.7% |
EPIC Crude Services LP | 10.609% | 03/02/2026 | 2.7% |
Engineered Machinery Holdings Inc | 12.071% | 05/21/2029 | 2.7% |
Minotaur Acquisition Inc | 10.179% | 03/27/2026 | 2.6% |
Tank Holding Corp | 11.179% | 03/31/2028 | 2.4% |
ACProducts Holdings Inc | 9.814% | 05/17/2028 | 2.4% |
Azul Investments LLP | 5.875% | 10/26/2024 | 2.4% |
Transocean Inc | 7.500% | 04/15/2031 | 2.2% |
Global Aircraft Leasing Co Ltd | 6.500% | 09/15/2024 | 2.1% |
WaterBridge NDB Operating LLC | 9.826% | 05/10/2029 | 2.1% |
Azul Secured Finance LLP | 11.930% | 08/28/2028 | 2.0% |
CEC Entertainment LLC | 6.750% | 05/01/2026 | 2.0% |
DCG Acquisition Corp | 9.929% | 09/30/2026 | 2.0% |
ECL Entertainment LLC | 9.329% | 08/31/2030 | 1.9% |
Triumph Group Inc | 9.000% | 03/15/2028 | 1.9% |
New Gold Inc | 7.500% | 07/15/2027 | 1.9% |
Osaic Holdings Inc | 9.329% | 08/17/2028 | 1.8% |
Brock Holdings III LLC | 11.328% | 05/02/2030 | 1.8% |
NGL Energy Operating LLC | 9.829% | 02/02/2031 | 1.8% |
Mauser Packaging Solutions Holding Co | 9.250% | 04/15/2027 | 1.7% |
Shelf Drilling Holdings Ltd | 9.625% | 04/15/2029 | 1.5% |
EquipmentShare.com Inc | 9.000% | 05/15/2028 | 1.5% |
Foundation Building Materials Inc | 6.000% | 03/01/2029 | 1.4% |
JW Aluminum Continuous Cast Co | 10.250% | 06/01/2026 | 1.4% |
GPS Hospitality Holding Co LLC / GPS Finco Inc | 7.000% | 08/15/2028 | 1.3% |
CPM Holdings Inc | 9.813% | 09/28/2028 | 1.0% |
Samarco Mineracao SA | 9.000% | 06/30/2031 | 0.9% |
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp | 8.625% | 06/15/2029 | 0.9% |
BARENTZ INTERNATIONAL B V | 9.572% | 03/03/2031 | 0.9% |
Delta Topco Inc | 10.563% | 11/30/2029 | 0.9% |
Aretec Group Inc | 7.500% | 04/01/2029 | 0.9% |
Studio City Finance Ltd | 6.500% | 01/15/2028 | 0.9% |
Staples Inc | 10.750% | 09/01/2029 | 0.9% |
Maxim Crane Works Holdings Capital LLC | 11.500% | 09/01/2028 | 0.5% |
Tank Holding Corp | 11.429% | 03/31/2028 | 0.5% |
ION Trading Technologies Sarl | 9.500% | 05/30/2029 | 0.5% |
QSRP FINCO BV | 0.000% | 05/30/2031 | 0.4% |
CORNERSTONE BUILDING BRNDS INC | 9.817% | 05/02/2031 | 0.4% |
Alloy Finco Ltd | 0.500% | 03/06/2025 | 0.3% |
Total Return Swap | 5.344% | 06/20/2024 | 0.2% |
Tank Holding Corp | 0.010% | 03/31/2028 | 0.1% |
Total Return Swap | 5.344% | 09/20/2024 | 0.1% |
Total Return Swap | 5.344% | 12/20/2024 | 0.0% |
Total Return Swap | 5.344% | 09/20/2024 | 0.0% |
Total Return Swap | 5.344% | 12/20/2024 | 0.0% |
FX USD/EUR 08/24 | 0.000% | 08/20/2024 | 0.0% |
Credit Index Swap | 5.000% | 06/20/2029 | 0.0% |
DONCASTERS FINANCE US LLC | 0.000% | 04/23/2030 | 0.0% |
Holding | Coupon | Maturity | Assets |
---|
EPIC Y-Grade Services LP | 11.052% | 06/29/2029 | 5.5% |
DONCASTERS FINANCE US LLC | 11.776% | 04/23/2030 | 4.6% |
Park-Ohio Industries Inc | 6.625% | 04/15/2027 | 3.8% |
Full House Resorts Inc | 8.250% | 02/15/2028 | 3.7% |
Nabors Industries Ltd | 7.500% | 01/15/2028 | 3.6% |
Cornerstone Building Brands Inc | 10.954% | 08/01/2028 | 3.6% |
WaterBridge Midstream Operating LLC | 11.335% | 06/22/2026 | 3.6% |
WaterBridge Midstream Operating LLC | 0.000% | 06/21/2029 | 3.5% |
FOGO DE CHAO INC | 10.094% | 09/30/2030 | 3.4% |
LSF12 BADGER BIDCO LLC | 11.344% | 08/30/2030 | 3.4% |
Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.
Dividends & Cap Gains
Dividends & Cap Gains
Dividend Payments
- YTD Dividends Paidas of 07/26/2024
- $0.44743
- Dividend Frequency
- Monthly (Daily Accrual)
Record Date | Ex-Dividend Date | Reinvest & Payable Date | Dividend | Reinvest Price |
---|---|---|---|---|
Daily | Daily | 06/30/2024 | $0.07411 | $9.33 |
Daily | Daily | 05/31/2024 | $0.07709 | $9.36 |
Daily | Daily | 04/30/2024 | $0.07234 | $9.32 |
Daily | Daily | 03/31/2024 | $0.07764 | $9.35 |
Daily | Daily | 02/29/2024 | $0.07277 | $9.25 |
Daily | Daily | 01/31/2024 | $0.07347 | $9.23 |
Upcoming Dividend Payment Dates
Record Date | Ex-Dividend Date | Reinvest & Payable Date |
---|---|---|
Daily | Daily | 07/31/2024 |
Daily | Daily | 08/31/2024 |
Daily | Daily | 09/30/2024 |
Daily | Daily | 10/31/2024 |
Daily | Daily | 11/30/2024 |
Daily | Daily | 12/31/2024 |
Capital Gains Distributions
Record Date | Reinvest & Payable Date | Long-term | Short-term * | Total | Reinvest Price |
---|---|---|---|---|---|
07/27/2022 | 07/28/2022 | $0.0048 | - | $0.0048 | $9.18 |
Taxed as ordinary income
Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor.
Fees & Expenses
Fees & Expenses
Expense Ratio
Fund Gross Expense Ratio | 1.64% |
Fund Net Expense Ratio | 0.25% |
Adjusted Expense Ratio | - |
Expense ratio details, Click here.
The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 04/30/2025. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.
Fund Documents
Fund Documents
0Documents selected
|
||||
---|---|---|---|---|
Portfolio Holdings 1Q
Publish Date:11/03/2015
|
||||
Portfolio Holdings 3Q
Publish Date:11/03/2015
|
||||
Statutory Prospectus
Publish Date:11/03/2015
|
||||
SAI
Publish Date:11/03/2015
|
||||
Annual Financial Statements and Other Information *
Publish Date:11/03/2015
|
||||
Semi-Annual Financial Statements and Other Information *
Publish Date:11/03/2015
|
||||
Commentary
Publish Date:11/03/2015
|
||||
Repurchase Calendar
Publish Date:11/03/2015
|
Section 16 Filings available HERE.