Investment Grade Floating Rate Fund
Daily price w/o sales charge as of 07/26/2024
$10.23
$0.00
YTD Returns w/o sales charge as of 07/26/2024
4.99%
Summary
Summary
Yield
Average Yield to Maturity as of 06/28/2024 |
6.79% |
Subsidized2 | Un-Subsidized3 | |
---|---|---|
w/o sales charge | 6.64% | 5.70% |
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.
Fund Basicsas of 06/28/2024
- Total Net Assets
- $21.24 M
- Inception Date
- 05/01/2023*
- Dividend Frequency
- Monthly
- Fund Gross Expense Ratio
- 1.95%
- Fund Net Expense Ratio
- 0.55%
- Number of Holdings
- 123
- Minimum Initial Investment
- $1,500+
Fund Expense Ratio :
Gross 1.95%
Net 0.55%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 05/04/2023 |
---|
w/o sales charge | 4.48% | 9.41% | - | - | - | 9.32% |
Lipper Category Avg. Loan Participation Funds | 3.94% | 10.01% | - | - | - | - |
w/ sales charge | 2.15% | 6.96% | - | - | - | 7.19% |
Fund Expense Ratio :
Gross 1.95%
Net 0.55%
Fund Expense Ratio :
Gross 1.95%
Net 0.55%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 05/04/2023 |
---|
w/o sales charge | 4.48% | 9.41% | - | - | - | 9.32% |
Lipper Category Avg. Loan Participation Funds | 3.94% | 10.01% | - | - | - | - |
w/ sales charge | 2.15% | 6.96% | - | - | - | 7.19% |
Fund Expense Ratio :
Gross 1.95%
Net 0.55%
Returns with sales charges reflect a maximum sales charge of 2.25%.
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 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. Therefore, there can be no assurance for future results.
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Performance
Performance
Fund Expense Ratio :
Gross 1.95%
Net 0.55%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 05/04/2023 |
---|
w/o sales charge | 4.48% | 9.41% | - | - | - | 9.32% |
Lipper Category Avg. Loan Participation Funds | 3.94% | 10.01% | - | - | - | - |
w/ sales charge | 2.15% | 6.96% | - | - | - | 7.19% |
Fund Expense Ratio :
Gross 1.95%
Net 0.55%
Fund Expense Ratio :
Gross 1.95%
Net 0.55%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 05/04/2023 |
---|
w/o sales charge | 4.48% | 9.41% | - | - | - | 9.32% |
Lipper Category Avg. Loan Participation Funds | 3.94% | 10.01% | - | - | - | - |
w/ sales charge | 2.15% | 6.96% | - | - | - | 7.19% |
Fund Expense Ratio :
Gross 1.95%
Net 0.55%
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 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. Therefore, there can be no assurance for future results.
Portfolio
Portfolio
Type | Assets |
---|---|
CLO | |
ABS | |
Bank Loans | |
Investment Grade Bonds | |
MBS Other | |
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 | |
10-10.99 yrs | |
11-11.99 yrs | |
7-7.99 yrs | |
13-13.99 yrs | |
3-3.99 yrs | |
6-6.99 yrs | |
4-4.99 yrs | |
2-2.99 yrs | |
5-5.99 yrs | |
14-14.99 yrs | |
19-19.99 yrs | |
9-9.99 yrs | |
1-1.99 yrs | |
15-15.99 yrs | |
16-16.99 yrs | |
22-22.99 yrs | |
28-28.99 yrs | |
20-20.99 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 06/28/2024
Rating | Assets |
---|---|
U.S. Treasury | |
AAA | |
AA | |
A | |
BBB | |
<BBB | |
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. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. 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 are not rated. The credit quality distribution breakdown is not an S&P credit rating or an opinion of S&P as to the credit worthiness of the portfolio.
PORTFOLIO DETAILS as of 06/28/2024
- Total Net Assets
- $21.24 M
- Average Effective Duration
- 0.13 Years
- Average Life
- 2.72 Years
- Number of Issues
- 123
- Average Yield to Maturity
- 6.79%
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 |
---|
AMMC CLO 25 Ltd | 7.095% | 04/15/2035 | 2.4% |
Allegro CLO VII Ltd | 6.475% | 06/13/2031 | 2.3% |
Generate Clo 16 Ltd | 6.879% | 07/20/2037 | 2.3% |
Benefit Street Partners CLO XXVI Ltd | 9.075% | 07/20/2034 | 1.7% |
Kinetic Advantage Master Owner Trust | 7.983% | 11/15/2027 | 1.5% |
Carlyle US CLO 2022-6 Ltd | 10.074% | 10/25/2036 | 1.5% |
Sixth Street CLO XXII Ltd | 10.325% | 04/22/2036 | 1.5% |
CAL Receivables 2022-1 LLC | 9.683% | 10/15/2026 | 1.5% |
United States Treasury Floating Rate Note | 5.471% | 04/30/2026 | 1.4% |
Freddie Mac STACR REMIC Trust 2023-HQA3 | 7.185% | 11/25/2043 | 1.4% |
Holding | Coupon | Maturity | Assets |
---|
United States Treasury Floating Rate Note | 5.471% | 04/30/2026 | 5.2% |
Generate Clo 16 Ltd | 6.883% | 07/20/2037 | 3.7% |
Kinetic Advantage Master Owner Trust | 7.974% | 11/15/2027 | 2.4% |
CAL Receivables 2022-1 LLC | 9.674% | 10/15/2026 | 2.4% |
Carlyle US CLO 2022-6 Ltd | 10.074% | 10/25/2036 | 2.3% |
Sixth Street CLO XXII Ltd | 10.325% | 04/22/2036 | 2.3% |
Freddie Mac STACR REMIC Trust 2023-HQA3 | 7.174% | 11/25/2043 | 2.2% |
Bayview Opportunity Master Fund VII 2024-CAR1 LLC | 7.374% | 12/26/2031 | 2.1% |
Bain Capital Credit CLO 2023-3 Ltd | 13.873% | 07/24/2036 | 2.0% |
Ballyrock CLO 25 Ltd | 10.024% | 01/25/2036 | 1.9% |
Rad CLO 20 Ltd | 10.325% | 07/20/2036 | 1.9% |
Ballyrock CLO 25 Ltd | 7.774% | 01/25/2036 | 1.9% |
Cifc Funding 2023-III Ltd | 7.625% | 01/20/2037 | 1.9% |
Cifc Funding 2023-III Ltd | 6.925% | 01/20/2037 | 1.9% |
OCP CLO 2024-31 Ltd | 9.275% | 04/20/2037 | 1.9% |
Bain Capital Credit CLO 2022-5 Ltd | 9.573% | 01/24/2037 | 1.9% |
Elmwood CLO 16 Ltd | 6.855% | 04/20/2037 | 1.9% |
Post CLO 2023-1 Ltd | 7.825% | 04/20/2036 | 1.9% |
Regatta XXV Funding Ltd | 8.379% | 07/15/2036 | 1.9% |
Magnetite XXXIX Ltd | 7.874% | 10/25/2033 | 1.9% |
CIFC Funding 2024-I Ltd | 6.827% | 04/18/2037 | 1.9% |
GREYWOLF CLO VII Ltd | 7.485% | 10/20/2031 | 1.9% |
OHA Credit Funding 16 Ltd | 7.975% | 10/20/2036 | 1.9% |
Ballyrock CLO 20 Ltd | 7.929% | 07/15/2034 | 1.9% |
Benefit Street Partners CLO XVIII Ltd | 7.290% | 10/15/2034 | 1.9% |
Stratus Static CLO 2022-3 Ltd | 7.725% | 10/20/2031 | 1.9% |
Valley Stream Park CLO LTD | 7.575% | 10/20/2034 | 1.9% |
Barings Loan Partners CLO Ltd 3 | 7.425% | 07/20/2033 | 1.9% |
Ballyrock CLO 22 Ltd | 6.867% | 04/15/2037 | 1.8% |
Westlake Automobile Receivables Trust 2024-1 | 6.020% | 10/15/2029 | 1.8% |
Elmwood CLO 28 Ltd | 7.247% | 04/17/2037 | 1.8% |
Benefit Street Partners CLO V-B Ltd | 6.858% | 07/20/2037 | 1.8% |
Bayview Opportunity Master Fund VII 2024-EDU1 LLC | 8.074% | 06/25/2047 | 1.8% |
Freddie Mac STACR REMIC Trust 2024-HQA1 | 6.574% | 03/25/2044 | 1.7% |
Freddie Mac STACR REMIC Trust 2024-DNA1 | 6.674% | 02/25/2044 | 1.6% |
Exeter Automobile Receivables Trust 2023-3 | 6.680% | 04/16/2029 | 1.5% |
Mariner Finance Issuance Trust 2020-A | 3.210% | 08/21/2034 | 1.4% |
Exeter Automobile Receivables Trust 2023-2 | 6.320% | 08/15/2029 | 1.3% |
Fairstone Financial Issuance Trust I | 6.873% | 10/20/2039 | 1.3% |
Affirm Asset Securitization Trust 2024-X1 | 6.570% | 05/15/2029 | 1.1% |
SDR Commercial Mortgage Trust 2024-DSNY | 6.708% | 05/15/2039 | 1.1% |
APIDOS CLO XLVIII Ltd | 11.080% | 07/25/2037 | 1.1% |
Avant Loans Funding Trust 2021-REV1 | 2.300% | 07/15/2030 | 1.1% |
Fairstone Financial Issuance Trust I | 2.509% | 10/20/2039 | 1.0% |
Exeter Automobile Receivables Trust 2023-1 | 6.690% | 06/15/2029 | 1.0% |
HIN Timeshare Trust 2020-A | 3.420% | 10/09/2039 | 0.9% |
General Motors Financial Co Inc | 6.670% | 05/08/2027 | 0.9% |
NRTH 2024-PARK Mortgage Trust | 6.958% | 03/15/2041 | 0.9% |
BX Commercial Mortgage Trust 2024-XL5 | 6.708% | 03/15/2041 | 0.9% |
Flutter Financing BV | 7.559% | 11/25/2030 | 0.8% |
PFP 2023-10 Ltd | 7.685% | 09/16/2038 | 0.7% |
World Financial Network Credit Card Master Trust | 5.470% | 02/17/2031 | 0.7% |
Hilton Domestic Operating Co Inc | 7.175% | 06/21/2028 | 0.7% |
DRIVEN BRANDS FUNDING LLC | 7.393% | 10/20/2052 | 0.7% |
MF1 2024-FL14 LLC | 7.057% | 03/19/2039 | 0.7% |
Charter Communications Operating LLC | 7.052% | 02/01/2027 | 0.7% |
Empower CLO 2024-2 Ltd | 11.393% | 07/15/2037 | 0.7% |
Neuberger Berman Loan Advisers Clo 56 Ltd | 11.093% | 07/24/2037 | 0.7% |
Generate Clo 16 Ltd | 11.493% | 07/20/2037 | 0.7% |
LPL Holdings Inc | 7.163% | 11/12/2026 | 0.7% |
International Bank for Reconstruction & Development | 5.602% | 11/22/2028 | 0.7% |
Avolon TLB Borrower 1 US LLC | 7.321% | 06/22/2028 | 0.7% |
KFC Holding Co | 7.185% | 03/15/2028 | 0.7% |
BX TRUST 2024 VLT4 | 6.907% | 07/15/2029 | 0.7% |
MTN Commercial Mortgage Trust 2022-LPFL | 6.714% | 03/15/2039 | 0.7% |
Nuvei Technologies Corp | 8.429% | 12/19/2030 | 0.6% |
GVC HOLDINGS GIBRALTAR LIMITED | 0.000% | 06/30/2028 | 0.6% |
BX Commercial Mortgage Trust 2021-XL2 | 6.120% | 10/15/2038 | 0.6% |
Cushman & Wakefield US Borrower LLC | 9.079% | 01/31/2030 | 0.5% |
SFS Auto Receivables Securitization Trust 2024-1 | 4.950% | 05/21/2029 | 0.5% |
Santander Drive Auto Receivables Trust 2024-2 | 6.280% | 08/15/2031 | 0.5% |
Goldman Sachs Group Inc/The | 7.195% | 03/15/2028 | 0.4% |
Setanta Aircraft Leasing DAC | 7.072% | 11/05/2028 | 0.4% |
LORCA HOLDCO LIMITED | 0.000% | 04/16/2031 | 0.4% |
PEER HOLDING III B V | 8.559% | 10/28/2030 | 0.3% |
Owens & Minor Inc | 9.179% | 03/29/2029 | 0.3% |
Compass Power Generation LLC | 9.693% | 04/14/2029 | 0.3% |
AAdvantage Loyalty IP Ltd | 10.336% | 04/20/2028 | 0.3% |
Hyundai Capital America | 6.832% | 01/08/2027 | 0.2% |
Amer Sports Co | 8.577% | 02/17/2031 | 0.2% |
JPMorgan Chase & Co | 6.499% | 02/24/2028 | 0.1% |
Exeter Automobile Receivables Trust 2022-2 | 3.650% | 10/15/2026 | 0.1% |
US 2YR NOTE (CBT) Sep24 | 0.000% | 10/03/2024 | 0.0% |
FX USD/CAD 08/24 | 0.000% | 08/09/2024 | 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
Dividends & Cap Gains
Dividend Payments
Dividend Payments
- YTD Dividends Paidas of 07/26/2024
- $0.33718
- Dividend Frequency
- Monthly (Daily Accrual)
Record Date | Ex-Dividend Date | Reinvest & Payable Date | Dividend | Reinvest Price |
---|---|---|---|---|
Daily | Daily | 06/30/2024 | $0.05628 | $10.23 |
Daily | Daily | 05/31/2024 | $0.05787 | $10.22 |
Daily | Daily | 04/30/2024 | $0.05594 | $10.20 |
Daily | Daily | 03/31/2024 | $0.05788 | $10.20 |
Daily | Daily | 02/29/2024 | $0.05460 | $10.18 |
Daily | Daily | 01/31/2024 | $0.05459 | $10.16 |
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 | 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 |
---|---|---|---|---|---|
12/18/2023 | 12/19/2023 | $0.0257 | $0.0481 | $0.0738 | $10.11 |
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
Sales Charge Schedule as of 07/26/2024
Sales Charge | Dealer's Concession | Prices at Breakpoint | |
---|---|---|---|
Less than $100,000 | 2.50% | 2.00% | $10.47 |
$100,000 to $249,999 | 1.75% | 1.50% | $10.41 |
$250,000 to $499,999 | 1.25% | 1.00% | $10.36 |
Greater than $500,000 | 0.00% | 1.00% | $10.23 |
The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.
Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.
Expense Ratioas of 06/30/2024
Fund Gross Expense Ratio | 1.95% |
Fund Net Expense Ratio | 0.55% |
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 11/30/2024. 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
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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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SAI
Publish Date:11/03/2015
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Annual Financial Statements and Other Information *
Publish Date:11/03/2015
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Semi-Annual Financial Statements and Other Information *
Publish Date:11/03/2015
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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.