Investment Grade Floating Rate Fund

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Daily price w/o sales charge as of 05/02/2025

$10.20

$0.00

YTD Returns w/o sales charge as of 05/02/2025

1.45%

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Summary

What is the Investment Grade Floating Rate Fund?

The Fund’s investment objective is to seek a high level of current income by investing primarily in a broad range of investment grade, floating rate instruments.

DEEP CREDIT EXPERTISE

Leverages the firm’s 50+ year history in multi-sector credit investing

HIGH QUALITY WITH LOW DURATION

A high quality portfolio designed to have limited interest rate exposure by investing primarily in investment grade securities with floating rate coupons

EXPANDED OPPORUNITY SET

Deep domain knowledge of sector specialists across Securitized Products and Corporate Credit provides a wide opportunity set for investment

Yield

Average Yield to Maturity as of 03/31/2025

5.82%

Distribution Yield as of 05/02/2025

6.07%

30-Day Standardized Yield ¹ as of 03/31/2025

5.93%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

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.

Distribution Yield is the calculation of cash flow for an investment vehicle, to calculate the distribution yield, the most recent distribution is multiplied by 12 to get an annualized total, which is then divided by the NAV.

Fund Basicsas of 03/31/2025

Total Net Assets: $1.74 B
Inception Date: 05/04/2023
Dividend Frequency: Monthly
Fund Gross Expense Ratio: 1.30%
Fund Net Expense Ratio: 0.35%
Number of Holdings: 467

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 05/04/2023

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 05/04/2023
w/o sales charge	1.42%	6.75%	-10000.0%	-10000.0%	-10000.0%	8.16%
Lipper Category Avg. Loan Participation Funds	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 05/04/2023

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 05/04/2023
w/o sales charge	1.40%	7.33%	-10000.0%	-10000.0%	-10000.0%	8.51%
Lipper Category Avg. Loan Participation Funds	0.22%	6.00%	-10000.0%	-10000.0%	-10000.0%	-10000.0%

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Past performance is not a reliable indicator or guarantee 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 the current maximum sales charge, had the sales charge been included, returns would have been lower. 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.

INVESTMENT TEAM

Adam C. Castle, CFA

Partner, Portfolio Manager

17 Years of Industry Experience

Yoana N. Koleva, CFA

Partner, Portfolio Manager

22 Years of Industry Experience

Harris Trifon

Partner, Portfolio Manager

25 Years of Industry Experience

Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

34 Years of Industry Experience

Supported By 86 Investment Professionals with 18 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 05/04/2023

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 05/04/2023
w/o sales charge	1.42%	6.75%	-10000.0%	-10000.0%	-10000.0%	8.16%
Lipper Category Avg. Loan Participation Funds	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%
w/ sales charge	1.42%	6.75%	-10000.0%	-10000.0%	-10000.0%	8.16%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 05/04/2023

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 05/04/2023
w/o sales charge	1.40%	7.33%	-10000.0%	-10000.0%	-10000.0%	8.51%
Lipper Category Avg. Loan Participation Funds	0.22%	6.00%	-10000.0%	-10000.0%	-10000.0%	-10000.0%

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Portfolio

Type	Assets
CLO
ABS
U.S. Government Related
Bank Loans
Investment Grade Corporates
CMBS
Sovereign
MBS
High Yield Corporates
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Rating	Assets
12-12.99 yrs
1-1.99 yrs
13-13.99 yrs
11-11.99 yrs
3-3.99 yrs
2-2.99 yrs
6-6.99 yrs
4-4.99 yrs
5-5.99 yrs
7-7.99 yrs
10-10.99 yrs
9-9.99 yrs
14-14.99 yrs
18-18.99 yrs
19-19.99 yrs
8-8.99 yrs
16-16.99 yrs
26-26.99 yrs
27-27.99 yrs
15-15.99 yrs
24-24.99 yrs
22-22.99 yrs
29-29.99 yrs
0-0.99 yrs

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 03/31/2025

Rating	Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

PORTFOLIO DETAILS as of 03/31/2025

Total Net Assets: $1.74 B
Average Effective Duration: 0.32 Years
Average Life: 3.57 Years
Number of Issues: 467
Average Yield to Maturity: 5.82%

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Life - Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security. Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.

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.

Yield to worst (YTW) refers to the lesser of a bond’s (a) yield-to-maturity or (b) the lowest yield-to-call calculated on each scheduled call date.

Holding	Coupon	Maturity	Assets

Holding	Coupon	Maturity	Assets
United States Treasury Floating Rate Note	4.348%	01/31/2027	10.2%
United States Treasury Floating Rate Note	4.400%	04/30/2026	1.4%
European Bank for Reconstruction & Development	4.689%	02/20/2028	1.4%
Inter-American Development Bank	4.710%	10/05/2028	1.2%
Kommunalbanken AS	4.760%	03/03/2028	1.2%
RR 26 Ltd	5.439%	04/15/2038	1.1%
Park Blue CLO 2025-VII Ltd	5.518%	04/25/2038	1.1%
Wind River 2024-1 CLO Ltd	5.893%	04/20/2037	1.0%
Svensk Exportkredit AB	5.361%	05/05/2027	0.9%
Silver Point Clo 4 Ltd	5.932%	04/15/2037	0.9%

% of Total Assets			20.4%

Holding	Coupon	Maturity	Assets

Holding	Coupon	Maturity	Assets
United States Treasury Floating Rate Note	4.348%	01/31/2027	10.2%
United States Treasury Floating Rate Note	4.400%	04/30/2026	1.4%
European Bank for Reconstruction & Development	4.689%	02/20/2028	1.4%
Inter-American Development Bank	4.710%	10/05/2028	1.2%
Kommunalbanken AS	4.760%	03/03/2028	1.2%
RR 26 Ltd	5.439%	04/15/2038	1.1%
Park Blue CLO 2025-VII Ltd	5.518%	04/25/2038	1.1%
Wind River 2024-1 CLO Ltd	5.893%	04/20/2037	1.0%
Svensk Exportkredit AB	5.361%	05/05/2027	0.9%
Silver Point Clo 4 Ltd	5.932%	04/15/2037	0.9%
Sycamore Tree CLO 2025-6 Ltd	5.482%	04/20/2038	0.9%
New Mountain CLO 7 Ltd	5.484%	03/31/2038	0.9%
Bain Capital Credit CLO 2023-4 Ltd	9.293%	10/21/2036	0.8%
Elmwood CLO 27 Ltd	6.243%	04/18/2037	0.8%
Rad Clo 25 Ltd	5.753%	07/20/2037	0.8%
Birch Grove CLO 12 Ltd	5.848%	04/22/2038	0.7%
Freddie Mac STACR REMIC Trust 2024-HQA1	5.590%	03/25/2044	0.7%
AGL CLO 28 LTD	9.143%	01/21/2037	0.7%
Madison Park Funding Lxviii Ltd	5.801%	01/20/2038	0.6%
Post CLO 2021-1 LTD	5.915%	10/15/2034	0.6%
Sixth Street CLO XXII Ltd	5.866%	04/21/2038	0.6%
Silver Point CLO 8 Ltd	5.748%	04/15/2038	0.6%
Bridge Street CLO V Ltd	5.518%	04/20/2038	0.6%
Trinitas CLO XXIV Ltd	7.050%	04/25/2037	0.6%
Venture 48 CLO Ltd	7.043%	10/20/2036	0.5%
Park Blue CLO 2022-1 Ltd	5.713%	10/20/2037	0.5%
Westlake Automobile Receivables Trust 2023-2	6.290%	03/15/2028	0.5%
Park Blue CLO 2022-II Ltd	5.713%	07/20/2037	0.5%
Golub Capital Partners CLO 66B Ltd	7.600%	04/25/2036	0.5%
First Eagle Holdings Inc	7.452%	03/05/2029	0.5%
1988 CLO 1 Ltd	5.662%	10/15/2039	0.5%
Ares XXVII CLO Ltd	5.950%	10/28/2034	0.5%
1988 CLO 6 Ltd	6.948%	04/15/2038	0.5%
Black Diamond CLO 2024-1 Ltd	6.649%	10/25/2037	0.5%
Federal Farm Credit Banks Funding Corp	4.535%	05/03/2027	0.5%
Barings CLO Ltd 2025-I	6.885%	04/20/2038	0.5%
Broadcom Inc	5.694%	11/22/2028	0.5%
Cherry Securitization Trust 2024-1	5.700%	04/15/2032	0.5%
Westlake Flooring Master Trust	6.070%	02/15/2028	0.4%
Cajun Global LLC	3.931%	11/20/2051	0.4%
Avolon TLB Borrower 1 US LLC	6.074%	06/24/2030	0.4%
Carlyle US CLO 2024-6 Ltd	6.157%	10/25/2037	0.4%
Generate Clo 18 Ltd	6.221%	01/20/2038	0.4%
Huntington Bank Auto Credit-Linked Notes Series 2024-2	5.694%	10/20/2032	0.4%
HalseyPoint CLO 3 Ltd	5.767%	07/30/2037	0.4%
Trimaran CAVU 2022-2 Ltd	6.191%	03/27/2038	0.4%
OFSI BSL XV CLO Ltd	8.032%	03/31/2038	0.4%
Oaktree CLO 2023-2 Ltd	12.943%	07/20/2036	0.4%
Vistra Operations Co LLC	6.072%	12/20/2030	0.4%
Atlantic Avenue 2023-1 Ltd	9.893%	10/20/2036	0.4%
NGC CLO 2 LTD	6.498%	04/20/2038	0.4%
720 East CLO 2023-I Ltd	10.152%	04/15/2036	0.4%
Post CLO VI Ltd	6.556%	01/20/2038	0.4%
Calpine Corp	6.069%	02/27/2032	0.4%
Benefit Street Partners CLO XXVIII Ltd	5.643%	10/20/2037	0.4%
CARLYLE US CLO 2022-2 LTD	5.653%	01/20/2038	0.4%
Benefit Street Partners CLO Ltd	5.833%	04/20/2038	0.4%
GLS Auto Receivables Issuer Trust 2021-2	2.870%	05/15/2028	0.4%
Pikes Peak CLO 6	6.823%	05/18/2034	0.4%
Barrow Hanley CLO I Ltd	5.836%	01/20/2038	0.4%
Voya CLO 2024-1 Ltd	10.952%	04/15/2037	0.4%
Flutter Financing BV	6.045%	11/29/2030	0.4%
NRG Energy Inc	6.068%	04/16/2031	0.4%
TEXAS Commercial Mortgage Trust 2025-TWR	5.603%	04/15/2042	0.4%
Octagon Investment Partners 42 Ltd	6.102%	07/15/2037	0.4%
CarVal CLO III Ltd	5.632%	07/20/2032	0.3%
Oaktree CLO 2022-2 Ltd	5.872%	10/15/2037	0.3%
Park Blue Clo 2024-V Ltd	5.780%	07/25/2037	0.3%
American Express Co	5.381%	01/30/2031	0.3%
Continental Finance Credit Card ABS Master Trust	5.780%	12/15/2032	0.3%
Exeter Automobile Receivables Trust 2023-5	6.850%	01/16/2029	0.3%
Bryant Park Funding 2023-19 Ltd	5.893%	04/15/2038	0.3%
BX Trust 2025-ROIC	5.463%	03/15/2030	0.3%
GIH Borrower LLC	6.818%	11/26/2031	0.3%
Sycamore Tree CLO 2023-3 Ltd	8.543%	04/20/2037	0.3%
Jane Street Group LLC	6.297%	12/15/2031	0.3%
SBNA Auto Receivables Trust 2024-A	5.590%	01/15/2030	0.3%
Park Blue CLO 2024-VI Ltd	5.641%	01/25/2038	0.3%
AMMC CLO 23 Ltd	6.353%	04/17/2035	0.3%
Oracle Corp	5.121%	08/03/2028	0.3%
Silver Point CLO 8 Ltd	5.508%	04/15/2038	0.3%
GLS Auto Receivables Issuer Trust 2022-2	6.150%	04/17/2028	0.3%
37 Capital CLO III	10.662%	04/15/2036	0.3%
Sagard-Halseypoint Clo 8 Ltd	8.314%	01/30/2038	0.3%
Sycamore Tree CLO 2021-1 Ltd	5.901%	01/20/2038	0.3%
NatWest Markets PLC	5.499%	05/17/2029	0.3%
Benefit Street Partners CLO XXXVIII Ltd	5.623%	01/25/2038	0.3%
Exeter Automobile Receivables Trust 2023-3	9.980%	01/15/2031	0.3%
Exeter Automobile Receivables Trust 2022-2	4.560%	07/17/2028	0.3%
Crown City CLO V	5.893%	04/20/2037	0.3%
Freddie Mac STACR REMIC Trust 2024-DNA2	5.590%	05/25/2044	0.3%
PARK BLUE CLO 2023-III LTD	12.093%	04/20/2036	0.3%
Atlas Senior Loan Fund XXII Ltd	10.043%	01/20/2036	0.3%
Stream Innovations 2024-2 Issuer Trust	5.210%	02/15/2045	0.3%
HPS Loan Management 2024-19 Ltd	11.302%	04/15/2037	0.3%
Sixth Street CLO XVI Ltd	11.713%	01/20/2037	0.3%
OCP CLO 2024-32 Ltd	11.050%	04/23/2037	0.3%
Dryden 115 CLO Ltd	6.293%	04/18/2037	0.3%
Sandstone Peak II Ltd	10.313%	07/20/2036	0.3%
PPM CLO 6-R Ltd	7.043%	01/20/2037	0.3%
Carmax Auto Owner Trust 2023-3	5.610%	02/15/2029	0.3%
Post CLO 2024-1 Ltd	6.793%	04/20/2037	0.3%
CARLYLE US CLO 2019-3 LTD	6.343%	04/20/2037	0.3%
Freddie Mac STACR REMIC Trust 2024-DNA1	5.690%	02/25/2044	0.3%
SARATOGA INVESTMENT CORP SENIO	8.293%	10/20/2033	0.3%
Post CLO 2024-1 Ltd	6.393%	04/20/2037	0.3%
Goldman Sachs Group Inc/The	5.441%	01/28/2031	0.3%
ICG US CLO 2024-1 Ltd	5.902%	04/15/2037	0.3%
Rad CLO 16 Ltd	5.852%	07/15/2037	0.3%
Carlyle US CLO 2021-10 LTD	5.863%	01/20/2038	0.3%
RR 35 LTD	6.002%	01/15/2040	0.3%
JPMorgan Chase & Co	5.161%	01/24/2029	0.3%
Silver Point CLO 7 LTD	5.645%	01/15/2038	0.3%
CIFC Funding 2018-II Ltd	5.663%	10/20/2037	0.3%
TRINITAS CLO XX LTD	7.319%	07/20/2035	0.3%
Ford Motor Credit Co LLC	5.808%	11/05/2026	0.3%
Lloyds Banking Group PLC	5.419%	11/26/2028	0.3%
HSBC Holdings PLC	5.390%	03/03/2029	0.3%
NOVELIS CORPORATION	6.322%	03/11/2032	0.3%
Tikehau US CLO VII Ltd	7.372%	02/25/2038	0.3%
Garda World Security Corp	7.324%	02/01/2029	0.3%
CIFC Funding 2013-III-R Ltd	5.520%	04/24/2031	0.3%
ONE 2021-PARK Mortgage Trust	5.133%	03/15/2036	0.3%
Battalion CLO XXVIII Ltd	7.373%	01/20/2038	0.3%
SEB Funding LLC	4.969%	01/30/2052	0.3%
Voya CLO 2023-1 Ltd	7.143%	01/20/2037	0.3%
Evergreen Credit Card Trust	5.240%	05/15/2029	0.3%
Westlake Automobile Receivables Trust 2024-1	5.650%	02/15/2029	0.3%
Reynolds Consumer Products LLC	6.074%	03/04/2032	0.3%
Exeter Automobile Receivables Trust 2023-1	12.070%	09/16/2030	0.3%
LoanCore 2025 2025-CRE8 Issuer LLC	5.704%	08/17/2042	0.3%
CONE Trust 2024-DFW1	5.961%	08/15/2041	0.3%
Birch Grove CLO Ltd	5.893%	07/17/2037	0.3%
Wellington Management CLO 1 Ltd	6.743%	10/20/2036	0.3%
Fortiva Retail Prime Master Note Business Trust	6.600%	09/17/2029	0.3%
RR 8 Ltd	6.002%	07/15/2037	0.3%
CPS Auto Receivables Trust 2022-B	7.140%	10/15/2029	0.3%
Generate CLO 15 Ltd	6.843%	07/20/2037	0.3%
New Mountain CLO 2 Ltd	5.719%	01/15/2038	0.3%
Santander Consumer Auto Receivables Trust 2021-A	5.790%	08/15/2028	0.3%
Bain Capital Credit CLO 2021-3 Ltd	5.844%	07/24/2034	0.3%
Madison Park Funding LVIII Ltd	7.950%	04/25/2037	0.3%
Tesla Auto Lease Trust 2024-B	5.490%	12/20/2028	0.3%
Sycamore Tree CLO 2023-3 Ltd	6.443%	04/20/2037	0.3%
Octane Receivables Trust 2022-2	6.290%	07/20/2028	0.3%
Pasadena Performance Products LLC	7.825%	02/27/2032	0.3%
Hudson River Trading LLC	7.324%	03/18/2030	0.3%
Generate CLO 4 Ltd	5.723%	07/20/2037	0.3%
Mercury Financial Credit Card Master Trust	6.560%	07/20/2029	0.3%
GLS Auto Receivables Issuer Trust 2025-1	5.610%	11/15/2030	0.3%
Exeter Automobile Receivables Trust 2023-2	6.320%	08/15/2029	0.2%
Asurion LLC	7.688%	07/30/2027	0.2%
Regatta XXII Funding Ltd	5.993%	07/20/2035	0.2%
Flatiron CLO 23 LLC	12.303%	04/17/2036	0.2%
Island Finance Trust 2025-1	6.540%	03/19/2035	0.2%
Warwick Capital CLO 1 Ltd	9.893%	10/20/2036	0.2%
1988 CLO 3 Ltd	7.552%	10/15/2038	0.2%
Zais Clo 15 Ltd	5.790%	07/28/2037	0.2%
Park Blue CLO 2023-IV Ltd	7.000%	01/25/2037	0.2%
Benefit Street Partners CLO XVI Ltd	6.022%	01/17/2038	0.2%
Exeter Automobile Receivables Trust 2025-2	5.890%	07/15/2031	0.2%
KKR CLO 54 LTD	5.641%	01/15/2038	0.2%
CIFC Funding 2024-III Ltd	5.773%	07/21/2037	0.2%
Affirm Asset Securitization Trust 2023-B	7.440%	09/15/2028	0.2%
Silver Point CLO 1 Ltd	5.613%	01/20/2038	0.2%
Neuberger Berman Loan Advisers CLO 46 Ltd	6.046%	01/20/2037	0.2%
Toronto-Dominion Bank/The	5.389%	12/17/2029	0.2%
Tikehau US CLO VII Ltd	6.272%	02/25/2038	0.2%
HUB International Ltd	6.787%	06/20/2030	0.2%
First Advantage Holdings LLC	7.575%	10/31/2031	0.2%
NatWest Markets PLC	5.311%	03/21/2028	0.2%
ABG Intermediate Holdings 2 LLC	6.574%	03/05/2032	0.2%
Exeter Automobile Receivables Trust 2024-1	5.840%	06/17/2030	0.2%
Amentum Holdings Inc	6.572%	09/29/2031	0.2%
TCO Commercial Mortgage Trust 2024-DPM	5.562%	12/15/2039	0.2%
RAD CLO 28 Ltd	7.063%	04/20/2038	0.2%
Huntington National Bank/The	5.093%	04/12/2028	0.2%
Freddie Mac STACR REMIC Trust 2024-HQA2	5.590%	08/25/2044	0.2%
Rad Clo 25 Ltd	6.093%	07/20/2037	0.2%
KKR CLO 52 Ltd	13.118%	07/16/2036	0.2%
Diameter Capital Clo 6 Ltd	9.302%	04/15/2037	0.2%
BX Trust 2021-RISE	5.683%	11/15/2036	0.2%
Ares XLIII CLO Ltd	7.302%	01/15/2038	0.2%
Barrow Hanley CLO I Ltd	7.396%	01/20/2038	0.2%
Rad CLO 22 Ltd	6.123%	01/20/2037	0.2%
Sandstone Peak III Ltd	5.930%	04/25/2037	0.2%
BMW US Capital LLC	5.141%	03/19/2027	0.2%
DRW Holdings LLC	7.775%	06/26/2031	0.2%
AMMC CLO 31 Ltd	7.267%	02/20/2038	0.2%
CPS Auto Receivables Trust 2022-A	4.880%	04/16/2029	0.2%
Battalion CLO XXV Ltd	6.493%	03/13/2037	0.2%
Affirm Asset Securitization Trust 2023-B	11.320%	09/15/2028	0.2%
Dryden 83 CLO Ltd	6.243%	04/18/2037	0.2%
Securitized Term Auto Receivables Trust	6.746%	07/25/2031	0.2%
Post Road Equipment Finance 2025-1 LLC	7.080%	05/17/2032	0.2%
Ballyrock CLO 24 Ltd	9.352%	07/15/2036	0.2%
Exeter Automobile Receivables Trust 2023-3	6.210%	06/15/2028	0.2%
Wellington Management Clo 2 Ltd	5.843%	04/20/2037	0.2%
LAD Auto Receivables Trust 2023-3	6.430%	12/15/2028	0.2%
Mountain View CLO 2016-1 LLC	6.637%	04/14/2033	0.2%
Quikrete Holdings Inc	6.572%	02/10/2032	0.2%
Trinitas CLO XXIX Ltd	5.780%	07/23/2037	0.2%
SCF Equipment Trust 2016-1 LLC	6.750%	11/20/2035	0.2%
GLS Auto Receivables Issuer Trust 2023-4	9.720%	08/15/2030	0.2%
CELSIUS HOLDINGS INC	7.575%	03/22/2032	0.2%
CAL Receivables 2022-1 LLC	8.699%	10/15/2026	0.2%
ICG US CLO 2023-1 I Ltd	10.123%	07/18/2036	0.2%
VStrong Auto Receivables Trust 2024-A	7.290%	07/15/2030	0.2%
VStrong Auto Receivables Trust 2024-A	6.440%	07/15/2030	0.2%
Columbia Cent CLO 34 Ltd	7.739%	01/25/2038	0.2%
Sycamore Tree CLO 2023-2 Ltd	6.643%	01/20/2037	0.2%
Warwick Capital CLO 5 Ltd	5.915%	01/20/2038	0.2%
Bryant Park Funding 2024-25 Ltd	5.915%	01/18/2038	0.2%
Athene Global Funding	5.180%	01/07/2027	0.2%
PayPal Holdings Inc	5.028%	03/06/2028	0.2%
Madison Park Funding LXVII Ltd	6.005%	04/25/2037	0.2%
Post Road Equipment Finance 2025-1 LLC	5.040%	05/15/2031	0.2%
Crockett Partners Equipment Co IIA LLC	6.050%	01/20/2031	0.2%
NGC CLO 2 LTD	7.848%	04/20/2038	0.2%
CLEARWATER ANALYTICS LLC	6.574%	04/14/2032	0.2%
Driven Brands Funding LLC	7.393%	10/20/2052	0.2%
AmWINS Group Inc	6.575%	01/21/2032	0.2%
LAD Auto Receivables Trust 2025-1	5.050%	05/15/2030	0.2%
Huntington Bank Auto Credit-Linked Notes Series 2024-1	9.594%	05/20/2032	0.2%
Bridge Street CLO V Ltd	7.148%	04/20/2038	0.2%
Sierra Timeshare 2024-3 Receivables Funding LLC	6.930%	08/20/2041	0.2%
Great Wolf Trust 2024-WOLF	5.861%	03/15/2039	0.2%
Corpay Technologies Operating Co LLC	6.072%	04/28/2028	0.2%
Hyundai Capital America	5.402%	06/24/2027	0.2%
Santander Drive Auto Receivables Trust 2024-1	5.450%	03/15/2030	0.2%
Rockford Tower CLO 2024-1 Ltd	11.773%	04/20/2037	0.1%
Oaktree CLO 2022-3 Ltd	10.802%	10/15/2037	0.1%
Barings CLO Ltd 2024-I	8.293%	01/20/2037	0.1%
Huntington Bank Auto Credit-Linked Notes Series 2024-2	6.944%	10/20/2032	0.1%
Benefit Street Partners Clo XXXIII Ltd	8.550%	01/25/2036	0.1%
Ally Bank Auto Credit-Linked Notes Series 2024-A	5.827%	05/17/2032	0.1%
Rockford Tower CLO 2025-1 Ltd	9.856%	03/31/2038	0.1%
Ally Bank Auto Credit-Linked Notes Series 2024-A	7.917%	05/17/2032	0.1%
Magnetite Xlii Ltd	5.621%	01/25/2038	0.1%
Invesco US CLO 2024-3 Ltd	6.543%	07/20/2037	0.1%
Sycamore Tree CLO 2025-6 Ltd	5.882%	04/20/2038	0.1%
Eaton Vance CLO 2019-1 Ltd	5.812%	07/15/2037	0.1%
Asurion LLC	7.684%	12/23/2026	0.1%
Capital One Multi-Asset Execution Trust	5.114%	05/15/2028	0.1%
General Motors Financial Co Inc	5.405%	07/15/2027	0.1%
CarMax Auto Owner Trust 2023-1	5.190%	01/16/2029	0.1%
SWCH Commercial Mortgage Trust 2025-DATA	5.762%	03/15/2042	0.1%
Sycamore Tree CLO 2023-2 Ltd	11.973%	01/20/2037	0.1%
Santander Drive Auto Receivables Trust 2025-2	4.870%	05/15/2031	0.1%
37 Capital Clo 4 Ltd	9.646%	04/15/2035	0.1%
Affirm Master Trust	4.990%	02/15/2033	0.1%
Toronto-Dominion Bank/The	5.181%	01/31/2028	0.1%
AMMC CLO 31 Ltd	9.767%	02/20/2038	0.1%
ICG US CLO 2024-R1 Ltd	8.204%	01/25/2038	0.1%
Rockford Tower CLO 2021-3 Ltd	6.642%	01/15/2038	0.1%
GLS Auto Receivables Issuer Trust 2023-4	7.180%	08/15/2029	0.1%
Mariner Finance Issuance Trust 2024-A	9.020%	09/22/2036	0.1%
VStrong Auto Receivables Trust 2023-A	9.310%	02/15/2030	0.1%
Jump Financial LLC	8.572%	02/26/2032	0.1%
Jackson National Life Global Funding	5.324%	01/14/2028	0.1%
Santander Drive Auto Receivables Trust 2023-4	6.040%	12/15/2031	0.1%
Santander Bank Auto Credit-Linked Notes Series 2022-C	14.592%	12/15/2032	0.1%
SFS Auto Receivables Securitization Trust 2025-1	5.110%	02/20/2031	0.1%
Columbia Cent CLO 33 Ltd	5.893%	04/20/2037	0.1%
Santander Bank Auto Credit-Linked Notes Series 2022-A	12.662%	05/15/2032	0.1%
Santander Bank Auto Credit-Linked Notes Series 2022-B	14.552%	08/16/2032	0.1%
Corebridge Global Funding	5.101%	01/07/2028	0.1%
Neuberger Berman Loan Advisers CLO 28 Ltd	11.243%	10/20/2038	0.1%
OHA Credit Funding 14 Ltd	8.393%	04/20/2036	0.1%
KKR CLO 51 Ltd	6.143%	10/20/2037	0.1%
Silver Point CLO 2 Ltd	13.283%	04/20/2035	0.1%
Glencore Funding LLC	5.113%	10/01/2026	0.1%
Harvest US CLO 2024-1 Ltd	8.793%	04/18/2037	0.1%
1988 CLO 4 Ltd	8.552%	04/15/2037	0.1%
Bayview Opportunity Master Fund VII Trust 2024-SN1	8.000%	10/15/2029	0.1%
Exeter Automobile Receivables Trust 2024-2	7.980%	10/15/2031	0.1%
CarMax Auto Owner Trust 2023-1	6.270%	11/15/2029	0.1%
Ballyrock CLO 22 Ltd	6.652%	04/15/2037	0.1%
RR 5 Ltd	6.252%	07/15/2039	0.1%
Drive Auto Receivables Trust 2024-1	5.430%	11/17/2031	0.1%
CIFC Funding 2022-VI Ltd	6.058%	10/16/2038	0.1%
Neuberger Berman CLO XXII Ltd	6.753%	04/15/2038	0.1%
Benefit Street Partners Clo XXXVII Ltd	5.698%	01/25/2038	0.1%
Sound Point CLO 38 Ltd	6.872%	02/20/2037	0.1%
BX Trust 2021-ARIA	5.333%	10/15/2036	0.1%
GRACIE POINT INTERNATIONAL FUNDING 2023-1	7.024%	09/01/2026	0.1%
720 East CLO 2022-I Ltd	10.193%	01/20/2038	0.1%
Affirm Asset Securitization Trust 2024-A	5.610%	02/15/2029	0.1%
Barrow Hanley CLO II Ltd	9.386%	10/20/2035	0.1%
MTN Commercial Mortgage Trust 2022-LPFL	5.717%	03/15/2039	0.1%
Westlake Automobile Receivables Trust 2024-1	6.020%	10/15/2029	0.1%
JPMorgan Chase & Co	5.288%	07/22/2028	0.1%
Huntington Bank Auto Credit-Linked Notes Series 2024-2	8.344%	10/20/2032	0.1%
OWN Equipment Fund I LLC	5.700%	12/20/2032	0.1%
Oaktree CLO 2021-2 Ltd	7.804%	01/15/2035	0.1%
AMMC CLO 30 Ltd	8.802%	01/15/2037	0.1%
NextEra Energy Capital Holdings Inc	5.161%	02/04/2028	0.1%
GLS Auto Receivables Issuer Trust 2024-2	7.980%	05/15/2031	0.1%
Empower CLO 2023-3 Ltd	12.113%	01/20/2037	0.1%
PEAC Solutions Receivables 2025-1 LLC	4.940%	10/20/2028	0.1%
Swedbank AB	5.389%	11/20/2029	0.1%
Rio Tinto Finance USA PLC	5.198%	03/14/2028	0.1%
Driven Brands Funding LLC	3.981%	10/20/2049	0.1%
Generate CLO 20 Ltd	9.639%	01/25/2038	0.1%
Bayview Opportunity Master Fund VII 2024-EDU1 LLC	5.790%	06/25/2047	0.1%
AMMC Clo 28 Ltd	7.793%	07/20/2037	0.1%
Glencore Funding LLC	5.411%	04/04/2027	0.1%
Invesco CLO 2022-3 Ltd	5.660%	10/22/2037	0.1%
SDR Commercial Mortgage Trust 2024-DSNY	5.711%	05/15/2039	0.1%
Goldman Sachs Group Inc/The	6.208%	03/15/2028	0.1%
Warwick Capital CLO 3 Ltd	8.793%	04/20/2037	0.1%
Bayview Opportunity Master Fund VII 2024-CAR1 LLC	6.390%	12/26/2031	0.1%
Bank of Nova Scotia/The	5.440%	08/01/2029	0.1%
Exeter Automobile Receivables Trust 2023-1	6.690%	06/15/2029	0.1%
Affirm Asset Securitization Trust 2024-A	9.170%	02/15/2029	0.1%
Katayma CLO II Ltd	8.793%	04/20/2037	0.1%
Harmony-Peace Park CLO Ltd	5.785%	10/20/2037	0.1%
Trans Union LLC	6.075%	06/24/2031	0.1%
Benefit Street Partners CLO XXXI Ltd	9.300%	04/25/2036	0.1%
Great Outdoors Group LLC	7.569%	01/23/2032	0.1%
Benefit Street Partners CLO V-B Ltd	5.823%	07/20/2037	0.1%
Regatta XXI Funding Ltd	6.052%	10/15/2037	0.1%
Voya CLO 2024-7 Ltd	6.136%	01/20/2038	0.1%
AGL CLO 35 Ltd	5.852%	01/21/2038	0.1%
Rad CLO 17 Ltd	6.043%	01/20/2038	0.1%
Palmer Square CLO 2022-5 Ltd	5.643%	10/20/2037	0.1%
Sixth Street CLO XV Ltd	5.667%	10/24/2037	0.1%
Cedar Funding XIV CLO Ltd	5.682%	10/15/2037	0.1%
Sixth Street CLO XXI Ltd	5.663%	10/21/2037	0.1%
Exeter Automobile Receivables Trust 2023-3	6.680%	04/16/2029	0.1%
Silver Point CLO 1 Ltd	7.193%	01/20/2038	0.1%
Bridge Street CLO V Ltd	9.648%	04/20/2038	0.1%
BLP Commercial Mortgage Trust 2024-IND2	5.661%	03/15/2041	0.1%
Clover CLO 2018-1 LLC	7.743%	04/20/2037	0.1%
Freddie Mac STACR REMIC Trust 2023-HQA3	6.190%	11/25/2043	0.1%
RAD CLO 27 Ltd	5.611%	01/15/2038	0.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT	5.511%	07/05/2033	0.1%
KREF Holdings X LLC	7.574%	03/05/2032	0.1%
Westlake Automobile Receivables Trust 2023-3	6.470%	03/15/2029	0.1%
US Bank NA	5.582%	02/25/2032	0.1%
US Bank NA	9.785%	08/25/2032	0.1%
37 Capital CLO III	13.332%	04/15/2036	0.1%
KKR CLO 47 Ltd	10.827%	01/15/2038	0.1%
JW Commercial Mortgage Trust 2024-MRCO	5.940%	06/15/2039	0.1%
Regional Management Issuance Trust 2022-1	4.460%	03/15/2032	0.1%
Sycamore Tree CLO 2023-4 Ltd	9.843%	10/20/2036	0.1%
BX Commercial Mortgage Trust 2024-XL5	5.711%	03/15/2041	0.1%
Trinitas CLO XXIV Ltd	8.400%	04/25/2037	0.1%
Danby Park CLO Ltd	5.993%	10/21/2037	0.1%
KKR CLO 45a Ltd	6.802%	04/15/2035	0.1%
Battery Park CLO II Ltd	6.643%	10/20/2037	0.1%
OCP Clo 2019-17 Ltd	6.043%	07/20/2037	0.1%
Sandstone Peak Ltd	6.132%	10/15/2034	0.1%
Ally Bank Auto Credit-Linked Notes Series 2024-B	6.678%	09/15/2032	0.1%
KKR CLO 23 Ltd	6.193%	10/20/2031	0.1%
Business Jet Securities 2024-2 LLC	5.364%	09/15/2039	0.1%
Empower CLO 2023-2 Ltd	9.702%	07/15/2036	0.1%
Barings Clo Ltd 2023-I	9.493%	04/20/2036	0.1%
Affirm Asset Securitization Trust 2024-A	9.170%	02/15/2029	0.1%
Citigroup Inc	5.133%	08/25/2036	0.1%
HCA Inc	5.232%	03/01/2028	0.1%
Fairstone Financial Issuance Trust I	6.873%	10/20/2039	0.1%
LAD Auto Receivables Trust 2023-3	6.920%	12/16/2030	0.1%
Empower CLO 2023-1 Ltd	9.800%	04/25/2036	0.1%
Reach ABS Trust 2025-1	4.960%	08/16/2032	0.1%
Ballyrock CLO 21 Ltd	7.443%	10/20/2037	0.1%
Canyon Capital CLO 2023-1 Ltd	12.282%	10/15/2036	0.1%
Trinitas CLO XXIII Ltd	9.643%	10/20/2036	0.1%
Carmax Auto Owner Trust 2023-2	6.550%	10/15/2029	0.1%
CPS Auto Receivables Trust 2023-C	6.770%	10/15/2029	0.1%
Cifc Funding 2023-III Ltd	8.543%	01/20/2037	0.1%
Exeter Automobile Receivables Trust 2023-4	6.950%	12/17/2029	0.1%
Citibank NA	5.071%	11/19/2027	0.1%
RR 34 LTD	9.802%	10/15/2039	0.1%
Sycamore Tree CLO 2024-5 Ltd	8.543%	04/20/2036	0.1%
Balboa Bay Loan Funding 2023-2 Ltd	8.793%	10/20/2036	0.1%
OHA Credit Funding 16 Ltd	8.293%	10/20/2036	0.1%
CIFC Funding 2024-IV Ltd	6.000%	10/16/2037	0.1%
Silver Point CLO 6 Ltd	6.617%	10/15/2037	0.1%
Benefit Street Partners CLO XIV Ltd	7.543%	10/20/2037	0.1%
Trinitas CLO XXVIII LTD	6.400%	04/25/2037	0.1%
RR 5 Ltd	5.802%	07/15/2039	0.1%
Jamestown CLO XII Ltd	6.793%	04/20/2032	0.1%
KKR Financial CLO 2013-1 Ltd	5.752%	04/15/2029	0.1%
Empower CLO 2024-2 Ltd	5.822%	07/15/2037	0.1%
Generate CLO 6 Ltd	5.690%	10/22/2037	0.1%
Rad CLO 7 Ltd	5.653%	04/17/2036	0.1%
RR 8 Ltd	5.652%	07/15/2037	0.1%
Bank of Montreal	5.238%	09/10/2027	0.1%
Flagship Credit Auto Trust 2020-4	3.840%	07/17/2028	0.1%
Lending Funding Trust 2020-2	6.770%	04/21/2031	0.1%
GLS Auto Receivables Issuer Trust 2021-4	4.430%	10/16/2028	0.1%
Hilcorp Energy I LP	6.322%	02/11/2030	0.1%
Canadian Imperial Bank of Commerce	5.289%	09/11/2027	0.1%
Host Hotels & Resorts LP	5.224%	01/04/2028	0.1%
Kinetic Advantage Master Owner Trust	6.999%	11/15/2027	0.1%
Pacific Gas and Electric Co	5.310%	09/04/2025	0.0%
Charter Communications Operating LLC	6.574%	12/15/2031	0.0%
Morgan Stanley Bank NA	5.224%	05/26/2028	0.0%
Dryden 102 CLO Ltd	6.752%	10/15/2036	0.0%
Silver Point CLO 6 Ltd	10.867%	10/15/2037	0.0%
National Australia Bank Ltd	4.961%	10/26/2027	0.0%
CIFC Funding 2019-I Ltd	10.043%	10/20/2037	0.0%
Ares LV CLO Ltd	10.802%	10/15/2037	0.0%
Invesco US CLO 2024-3 Ltd	7.843%	07/20/2037	0.0%
Empower CLO 2022-1 Ltd	10.193%	10/20/2037	0.0%
Crown City CLO V	8.393%	04/20/2037	0.0%
Birch Grove CLO 5 Ltd	7.643%	10/20/2037	0.0%
Madison Park Funding XLII Ltd	5.440%	11/21/2030	0.0%
Generate CLO 3 Ltd	12.123%	10/20/2036	0.0%
Societe Generale SA	5.459%	02/19/2027	0.0%
ABN AMRO Bank NV	6.140%	09/18/2027	0.0%
GLS Auto Select Receivables Trust 2023-2	8.220%	02/18/2031	0.0%
AGL CLO 26 Ltd	12.543%	10/21/2036	0.0%
Multifamily Connecticut Avenue Securities Trust 2024-01	7.090%	07/25/2054	0.0%
Voya CLO 2016-3 Ltd	5.993%	10/18/2031	0.0%
Cifc Funding 2023-III Ltd	6.943%	01/20/2037	0.0%
AIMCO CLO 22 Ltd	7.693%	04/19/2037	0.0%
Somnigroup International Inc	6.819%	10/24/2031	0.0%
Madison Park Funding XLII Ltd	6.052%	11/21/2030	0.0%
Freddie Mac STACR REMIC Trust 2021-DNA7	6.140%	11/25/2041	0.0%
Connecticut Avenue Securities Trust 2024-R06	5.490%	09/25/2044	0.0%
GLS Auto Select Receivables Trust 2023-1	7.930%	07/15/2030	0.0%
Bain Capital Credit Clo 2024-5 Ltd	10.760%	10/21/2037	0.0%
LAD Auto Receivables Trust 2023-1	7.300%	06/17/2030	0.0%
Bain Capital Credit CLO 2023-3 Ltd	12.847%	07/24/2036	0.0%
Ballyrock CLO 20 Ltd	10.502%	10/15/2036	0.0%
Ballyrock CLO 23 Ltd	9.500%	04/25/2036	0.0%
Empower CLO 2023-2 Ltd	7.702%	07/15/2036	0.0%
OHA Credit Funding 17 Ltd	6.593%	04/20/2037	0.0%
CARLYLE US CLO 2023-2 LTD	7.293%	07/20/2036	0.0%
AMMC CLO 25 Ltd	6.052%	04/15/2035	0.0%
AON CORPORATION	5.575%	02/16/2027	0.0%
Neuberger Berman Loan Advisers CLO 55 Ltd	7.790%	04/22/2038	0.0%
Avant Loans Funding Trust 2024-REV1	5.920%	10/15/2033	0.0%
BMW US Capital LLC	5.158%	08/13/2026	0.0%
Aramark Services Inc	6.322%	06/24/2030	0.0%
Wells Fargo Commercial Mortgage Trust 2024-MGP	6.010%	08/15/2041	0.0%
HGI CRE CLO 2021-FL1 Ltd	5.484%	06/16/2036	0.0%
AGL CLO 25 Ltd	9.593%	07/21/2036	0.0%
OHA Credit Funding 18 Ltd	7.743%	04/20/2037	0.0%
Korea National Oil Corp	5.263%	09/30/2027	0.0%
Palmer Square CLO 2023-2 Ltd	9.293%	04/20/2036	0.0%
OHA Credit Funding 14 Ltd	12.043%	04/20/2036	0.0%
BPCE SA	6.337%	10/19/2027	0.0%
KKR CLO 56 Ltd	10.802%	10/15/2037	0.0%
Rad CLO 20 Ltd	9.293%	07/20/2036	0.0%
Magnetite XXXV Ltd	8.300%	10/25/2036	0.0%
OHA Credit Funding 16 Ltd	6.943%	10/20/2036	0.0%
Post CLO 2023-1 Ltd	6.793%	04/20/2036	0.0%
Regatta XXV Funding Ltd	7.352%	07/15/2036	0.0%
GREYWOLF CLO VII Ltd	6.453%	10/20/2031	0.0%
Generate Clo 16 Ltd	10.443%	07/20/2037	0.0%
NatWest Group PLC	5.658%	11/15/2028	0.0%
Citadel Securities Global Holdings LLC	6.303%	10/31/2031	0.0%
Bayview Opportunity Master Fund VII 2024-CAR1 LLC	5.640%	12/26/2031	0.0%
APIDOS CLO XLVIII Ltd	10.050%	07/25/2037	0.0%
Carmax Auto Owner Trust 2024-3	5.670%	01/15/2031	0.0%
Empower CLO 2024-2 Ltd	10.352%	07/15/2037	0.0%
Citadel Securities Global Holdings LLC	6.689%	07/29/2030	0.0%
Interest Rate Swap	3.000%	03/19/2027	0.0%
Entain PLC	5.779%	06/30/2028	0.0%
PFP 2023-10 Ltd	6.684%	09/16/2038	0.0%
Fairstone Financial Issuance Trust I	2.509%	10/20/2039	0.0%
FX USD/CAD 06/25	0.000%	06/13/2025	0.0%
FX USD/EUR 05/25	0.000%	05/23/2025	0.0%
Interest Rate Swap	3.000%	03/19/2030	0.0%

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

Dividend Payments

For

YTD Dividends Paidas of 05/02/2025: $0.20522
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	04/30/2025	$0.05157	$10.20
Daily	Daily	03/31/2025	$0.05161	$10.25
Daily	Daily	02/28/2025	$0.04867	$10.29
Daily	Daily	01/31/2025	$0.05337	$10.28

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date	Ex-Dividend Date	Reinvest & Payable Date
Daily	Daily	05/31/2025
Daily	Daily	06/30/2025
Daily	Daily	07/31/2025
Daily	Daily	08/31/2025
Daily	Daily	09/30/2025
Daily	Daily	10/31/2025
Daily	Daily	11/30/2025
Daily	Daily	12/31/2025

Capital Gains Distributions

For

Record Date	Reinvest & Payable Date	Long-term	Short-term *	Total	Reinvest Price
12/16/2024	12/17/2024	$0.0007	$0.0053	$0.0060	$10.26

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

Expense Ratioas of 03/31/2025

Fund Gross Expense Ratio	1.30%
Fund Net Expense Ratio	0.35%

Expense ratio details, Click here.

Fund Documents

0Documents selected
Portfolio Holdings 1Q Publish Date:11/03/2015
Portfolio Holdings 3Q Publish Date:11/03/2015
Summary Prospectus 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
Annual Tailored Shareholder Report Publish Date:11/03/2015
Semi-Annual Financial Statements and Other Information * Publish Date:11/03/2015
Semi-Annual Tailored Shareholder Report Publish Date:11/03/2015
Fact Sheet Publish Date:11/03/2015
Commentary Publish Date:11/03/2015

* includes items 7-11 of form N-CSR as required, if any.

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The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").

Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus.

IMPORTANT INFORMATION

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

Returns shown at less than a year reflect aggregate total returns.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

Average Yield to Maturity is the total rate of return earned when a bond makes all interest payments and repays the original principal.

About Barron's Best Fund Families
Source: Barron's, "Best Fund Families of 2024." February 27, 2025. Used with permission. ©2025 Dow Jones & Company, Inc.

The 2024 Barron’s Best Fund Families List ranks the active management ability of qualifying companies. Rankings are based on the asset-weighted one-year returns as of 12/31/24, excluding 12b-1 fees and sales loads, of a company’s actively managed fund line up in five asset class categories: US Equity, World Equity, Mixed Asset, Taxable Bond, and Tax-Exempt Bond as determined by Barron’s. Overall ranking based on aggregate, weighted score across the five asset categories. Performance data from Refinitiv Lipper.

Past performance does not guarantee future results. Lord Abbett ranked overall #1 of 48, #6 of 46, and #23 of 46 for the 1- ,5-, and 10-year periods respectively. Lord Abbett ranked #1 of 48 in US Equity, #2 of 48 in Mixed Asset, #2 of 48 in Taxable Bond, and #5 of 48 in Tax-Exempt Bond.

How We Ranked the Fund Families
In ranking mutual and exchange-traded funds, our aim is to measure manager skill, independent of expenses beyond annual management fees. That is why we calculate returns before any 12b-1 fees are deducted. Similarly, fund loads, or sales charges, aren’t included in our calculation of returns.

Each fund’s performance is measured against all of the other funds in its LSEG Lipper category, with a percentile ranking of 100 being the highest and one the lowest. This result is then weighted by asset size relative to the fund family’s other assets in its general classification. If a family’s biggest funds do well, that boosts its overall ranking, and vice versa.

To be included in the ranking, a firm must have at least three funds in the general equity category, one in world equity, one in mixed equity such as a balanced or target-date fund, two taxable bond funds, and one national tax-exempt bond fund.

Single-sector and country equity funds are factored into the rankings as general equity. We exclude all index funds, but include actively managed ETFs and so-called smart-beta ETFs, which are passively managed but created from active strategies.

Finally, the score is multiplied by the weighting of its general classification, as determined by the Lipper universe of funds. The category weightings for 2024 were general equity, 39.1%; mixed asset, 21.6%; world equity, 15.3%; taxable bond,20.1%; and tax-exempt bond, 3.9%.

The category weightings for the five-year results were general equity, 39%; mixed asset, 21.7%; world equity, 15.3%; taxable bond, 19.9%; and tax-exempt bond, 4%.For the 10-year list, they were general equity, 40%; mixed asset, 22.1%; world equity, 14.8%; taxable bond, 19.2%; and tax[1]exempt bond, 3.9%. The weightings may not total 100 due to rounding.

How the scoring works: Say a fund in the general U.S. equity category has $500million in assets, accounting for half of the firm’s assets in that category, and its performance lands it in the 75th percentile for the category. The first calculation would be 75 times 0.5, which comes to 37.5. That score is then multiplied by 39.1%, general equity’s overall weighting in Lipper’s universe. So, it would be 37.5 times0.391, which equals 14.66. Similar calculations are done for each fund in our study; then the numbers are added for each category and overall. The shop with the highest total score wins. The same process is repeated to determine the five- and 10-year rankings.

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Summary

Summary

What is the Investment Grade Floating Rate Fund?

The Fund’s investment objective is to seek a high level of current income by investing primarily in a broad range of investment grade, floating rate instruments.

DEEP CREDIT EXPERTISE

HIGH QUALITY WITH LOW DURATION

EXPANDED OPPORUNITY SET

Yield

Average Yield to Maturity as of 03/31/2025

Distribution Yield as of 05/02/2025

30-Day Standardized Yield 1 as of 03/31/2025

Fund Basicsas of 03/31/2025

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

INVESTMENT TEAM

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Performance

Performance

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Fund Expense Ratio :

Gross 1.30%

Net 0.35%

Portfolio

Portfolio

Credit Quality Distribution as of 03/31/2025

PORTFOLIO DETAILS as of 03/31/2025

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

Upcoming Dividend Payment Dates

Capital Gains Distributions

Fees & Expenses

Fees & Expenses

Expense Ratioas of 03/31/2025

Fund Documents

Fund Documents

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30-Day Standardized Yield ¹ as of 03/31/2025