Lord Abbett Investment Grade Floating Rate Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
8.6%
1 yr return
9.0%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$11.7 M
Holdings in Top 10
23.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.29%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
LGRUX - Profile
Distributions
- YTD Total Return 8.6%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 6.3%
- Dividend Distribution Frequency Monthly
Fund Details
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Legal NameLord Abbett Investment Grade Floating Rate Fund
-
Fund Family NameLORDABBETT
-
Inception DateJun 05, 2023
-
Shares OutstandingN/A
-
Share ClassR6
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CurrencyUSD
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Domiciled CountryUS
Fund Description
The Fund will invest in various types of high quality, investment grade debt (or fixed income) securities. Under normal conditions, the Fund will pursue its investment objective by investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in floating or adjustable rate instruments and derivatives and other instruments that effectively enable the Fund to achieve a floating rate of income. In addition, under normal conditions, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in investment grade debt securities. Investment grade debt securities are securities that are rated within the four highest grades (at the time of purchase) assigned by a nationally recognized statistical rating organization such as Moody’s Investors Service, Inc. (Aaa, Aa, A, Baa), S&P Global Ratings (AAA, AA, A, BBB), or Fitch Ratings (AAA, AA, A, BBB), or are unrated but determined by Lord Abbett to be of comparable quality.
The floating or adjustable rate instruments in which the Fund may invest include, but are not limited to:
·floating rate corporate debt securities of U.S. issuers;
·floating rate corporate debt securities of non-U.S. (including emerging market) issuers;
·securities issued or guaranteed by the U.S. Government, its agencies and instrumentalities;
·senior secured or unsecured floating rate loans or debt;
·floating-rate structured (or securitized) products and other hybrid instruments, including, but not limited to, U.S. and non-U.S. instruments and collateralized loan obligations; and
·mortgage-backed, mortgage-related, and other asset-backed securities, including privately issued mortgage-related securities and commercial mortgage-backed securities.
The other instruments that effectively enable the Fund to achieve a floating rate of income may include, but are not limited to:
·fixed-rate loans or debt with respect to which the Fund has entered into derivative instruments to effectively convert the fixed-rate interest payments into floating or adjustable rate interest payments; and
·money market investment companies.
The Fund seeks to manage interest rate risk through its management of the average duration of the securities in its portfolio.
The Fund may invest up to 20% of its net assets in securities rated below investment grade, including in high-yield debt securities (commonly referred to as “lower-rated” or “junk” bonds).
The Fund may invest in non-U.S. dollar-denominated loans or securities and in loans and securities issued by issuers organized in a country outside of the U.S. or economically tied to a country outside of the U.S., including in emerging markets.
The Fund invests in derivative instruments. Currently, the Fund expects to invest in derivatives consisting principally of futures, forwards, options, and swaps. The Fund may use derivatives to effectively convert the fixed-rate interest payments of a debt security held by the Fund into floating or adjustable rate interest payments; as a substitute for holding the underlying asset on which the derivative instrument is based; for cash management purposes; to manage portfolio duration; to attempt to hedge elements of its investment risk, on both a security- or portfolio-level basis; and to seek to enhance returns.
The portfolio management team buys, holds and sells securities using a relative value-oriented investment process, meaning the portfolio management team generally seeks more investment exposure to securities it believes to be undervalued and less investment exposure to securities it believes to be overvalued. The portfolio management team combines top-down and bottom-up analysis to construct its portfolio, using a blend of quantitative and fundamental research. As part of its top-down analysis, the portfolio management team evaluates global economic conditions, including monetary, fiscal, and regulatory policy, as well as the political
and geopolitical environment, in order to identify and assess opportunities and risks across different segments of the fixed income market. The portfolio management team employs bottom-up analysis to identify and select securities for investment by the Fund based on in-depth company, industry, and market research and analysis. The portfolio management team may actively rotate sector exposure based on its assessment of relative value. The investment team may also consider the risks and return potential presented by environmental, social, and governance (“ESG”) factors in investment decisions. The Fund may engage in active and frequent trading of its portfolio securities.
The Fund may sell a security when the Fund believes the security is less likely to benefit from the current market and economic environment, or shows signs of deteriorating fundamentals, among other reasons. The Fund may deviate from the investment strategy described above for temporary defensive purposes. The Fund may miss certain investment opportunities if defensive strategies are used and thus may not achieve its investment objective.
LGRUX - Performance
Return Ranking - Trailing
Period | LGRUX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.6% | N/A | N/A | N/A |
1 Yr | 9.0% | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Return Ranking - Calendar
Period | LGRUX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
Total Return Ranking - Trailing
Period | LGRUX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.6% | N/A | N/A | N/A |
1 Yr | 9.0% | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Total Return Ranking - Calendar
Period | LGRUX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
NAV & Total Return History
LGRUX - Holdings
Concentration Analysis
LGRUX | Category Low | Category High | LGRUX % Rank | |
---|---|---|---|---|
Net Assets | 11.7 M | N/A | N/A | N/A |
Number of Holdings | 167 | N/A | N/A | N/A |
Net Assets in Top 10 | 9.06 M | N/A | N/A | N/A |
Weighting of Top 10 | 23.02% | N/A | N/A | N/A |
Top 10 Holdings
- RR 8 Ltd 2.55%
- KKR Financial CLO 2013-1 Ltd 2.55%
- Rad CLO 7 Ltd 2.54%
- Federal Home Loan Bank Discount Notes 2.54%
- Atrium XIII 2.54%
- U.S. Treasury Floating Rate Notes 2.28%
- Mercury Financial Credit Card Master Trust 2.19%
- Merchants Fleet Funding LLC 2.18%
- Santander Consumer Auto Receivables Trust 2021-A 1.89%
- GLS Auto Select Receivables Trust 2023-2 1.77%
Asset Allocation
Weighting | Return Low | Return High | LGRUX % Rank | |
---|---|---|---|---|
Bonds | 83.60% | N/A | N/A | N/A |
Other | 23.81% | N/A | N/A | N/A |
Stocks | 0.00% | N/A | N/A | N/A |
Preferred Stocks | 0.00% | N/A | N/A | N/A |
Convertible Bonds | 0.00% | N/A | N/A | N/A |
Cash | 0.00% | N/A | N/A | N/A |
Bond Sector Breakdown
Weighting | Return Low | Return High | LGRUX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 0.00% | N/A | N/A | N/A |
Securitized | 0.00% | N/A | N/A | N/A |
Corporate | 0.00% | N/A | N/A | N/A |
Municipal | 0.00% | N/A | N/A | N/A |
Government | 0.00% | N/A | N/A | N/A |
Derivative | -0.04% | N/A | N/A | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | LGRUX % Rank | |
---|---|---|---|---|
US | 83.40% | N/A | N/A | N/A |
Non US | 0.20% | N/A | N/A | N/A |
LGRUX - Expenses
Operational Fees
LGRUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.29% | N/A | N/A | N/A |
Management Fee | 0.25% | N/A | N/A | N/A |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | N/A | N/A | N/A | N/A |
Sales Fees
LGRUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
Trading Fees
LGRUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
LGRUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
LGRUX - Distributions
Dividend Yield Analysis
LGRUX | Category Low | Category High | LGRUX % Rank | |
---|---|---|---|---|
Dividend Yield | 6.28% | N/A | N/A | N/A |
Dividend Distribution Analysis
LGRUX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly |
Net Income Ratio Analysis
LGRUX | Category Low | Category High | LGRUX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
Capital Gain Distribution Analysis
LGRUX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Distributions History
Date | Amount | Type |
---|---|---|
Nov 30, 2024 | $0.054 | OrdinaryDividend |
Oct 31, 2024 | $0.057 | OrdinaryDividend |
Sep 30, 2024 | $0.058 | OrdinaryDividend |
Aug 31, 2024 | $0.059 | OrdinaryDividend |
Jul 31, 2024 | $0.062 | OrdinaryDividend |
Jun 30, 2024 | $0.059 | OrdinaryDividend |
Apr 30, 2024 | $0.058 | OrdinaryDividend |
Mar 31, 2024 | $0.060 | OrdinaryDividend |
Feb 29, 2024 | $0.057 | OrdinaryDividend |
Jan 31, 2024 | $0.057 | OrdinaryDividend |
Dec 31, 2023 | $0.054 | OrdinaryDividend |
Dec 19, 2023 | $0.048 | CapitalGainShortTerm |
Dec 19, 2023 | $0.026 | CapitalGainLongTerm |
Nov 30, 2023 | $0.055 | OrdinaryDividend |
Oct 31, 2023 | $0.057 | OrdinaryDividend |
Sep 30, 2023 | $0.053 | OrdinaryDividend |
Aug 31, 2023 | $0.055 | OrdinaryDividend |
Jul 31, 2023 | $0.054 | OrdinaryDividend |
Jun 30, 2023 | $0.051 | OrdinaryDividend |