Flexible Income Fund | Lord Abbett

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Flexible Income Fund

fund alert

October 20 is the next quarterly deadline to redeem the Flexible Income Fund.

Daily price w/o sales charge as of 08/04/2026

$10.02

$0.00

YTD Returns w/o sales charge as of 08/04/2026

3.69%

Please click here for performance current to the most recent quarter-end and month-end.

Click here to view all legal text including risk information

Summary

Summary

What is the Flexible Income Fund?

The Flexible Income Fund is designed to provide yield-oriented investors with a high income low volatility solution that invests across a wide range of public and private credit.

EXPERTISE IN CREDIT

Combines the expertise of Lord Abbett and Apollo Global Management, two leaders in credit investing

OUTCOME ORIENTED SOLUTION

Targeting high income and low volatility with an investment-grade orientation

A FLEXIBLE APPROACH

Flexibility to allocate across public and private credit, through an interval fund structure

Yield

Average Yield to Maturity as of 06/30/2026

7.62%

Distribution Yield as of 08/04/2026  

6.80%

30-Day Standardized Yield 1 as of 06/30/2026  

6.33%

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 06/30/2026

Total Net Assets
$224.73 M
Inception Date
05/15/2025
Dividend Frequency
Monthly
Fund Gross Expense Ratio
2.55%
Fund Net Expense Ratio
1.31%
Adjusted Expense Ratio
0.75%
Number of Holdings
361

+Minimum Exceptions, View Full Disclosure

The minimum initial investment for  Institutional Class Shares is $1 million per account, except that the minimum investment may be modified for certain financial firms that submit orders on behalf of their customers, the Trustees and certain employees (and their extended family members) of Lord Abbett and its affiliates. There is no minimum subsequent investment amount.

Fund Expense Ratio :

Gross 2.55%

Net 1.31%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/15/2025
w/o sales charge 3.51% 6.86% - - - 7.43%
Lipper Category Avg. - - - - - -
ICE Bofa 1-3 yr BBB US Corporate Index 1.51% 4.14% - - - 4.56%

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

Fund Expense Ratio :

Gross 2.55%

Net 1.31%

Fund Expense Ratio :

Gross 2.55%

Net 1.31%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/15/2025
w/o sales charge 3.03% 7.09% - - - 7.56%
Lipper Category Avg. - - - - - -
ICE Bofa 1-3 yr BBB US Corporate Index 1.34% 4.15% - - - 4.76%

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

Fund Expense Ratio :

Gross 2.55%

Net 1.31%

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.

 

LEAD PORTFOLIO MANAGERS

rocco-steven

Steven F. Rocco, CFA
Partner & Co-Head of Taxable Fixed Income
25 Years of Industry Experience

obrien-andrew

Andrew H. O'Brien, CFA
Partner, Portfolio Manager
28 Years of Industry Experience

leas-bret

Bret Leas
Partner, Head of Asset Backed Finance
Apollo Global Management, Inc.
27 Years of Industry Experience

castle-adam

Adam C. Castle, CFA
Partner, Portfolio Manager
18 Years of Industry Experience

benz-gregory

Gregory H. Benz, CFA
Managing Director, Portfolio Manager
15 Years of Industry Experience

vanek-james

James Vanek
Partner and Co-Head of Corporate Credit
Apollo Global Management, Inc.
28 Years of Industry Experience

Performance

Performance

Average Yield to Maturity as of 06/30/2026

7.62%

Distribution Yield as of 08/04/2026  

6.80%

30-Day Standardized Yield 1 as of 06/30/2026  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.33% 6.33%

Fund Expense Ratio :

Gross 2.55%

Net 1.31%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/15/2025
w/o sales charge 3.51% 6.86% - - - 7.43%
Lipper Category Avg. - - - - - -
ICE Bofa 1-3 yr BBB US Corporate Index 1.51% 4.14% - - - 4.56%
w/ sales charge 3.51% 6.86% - - - 7.43%

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

Fund Expense Ratio :

Gross 2.55%

Net 1.31%

Fund Expense Ratio :

Gross 2.55%

Net 1.31%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/15/2025
w/o sales charge 3.03% 7.09% - - - 7.56%
Lipper Category Avg. - - - - - -
ICE Bofa 1-3 yr BBB US Corporate Index 1.34% 4.15% - - - 4.76%

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

Fund Expense Ratio :

Gross 2.55%

Net 1.31%

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.

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Breakdown as of 06/30/2026

Type Assets
Large Cap Direct Lending
Public Securitized
Investment Grade Corporate
High Yield Corporate
ABF
Other

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

Rating Assets
AAA
AA
A
BBB
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 higher credit 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.

Rating Assets
AAA
AA
A
BBB
BB
B
CCC
Not Rated

Investment ratings shown above  provided by Standard & Poor's, Moody's, and Fitch except for U.S. Treasury securities, securities issued or backed by U.S. agencies, or securities where ratings are not provided by rating agencies.  Where multiple rating agencies provide different quality ratings for a security, the investment ratings shown above reflect the highest credit rating. For securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. For securities not rated by any rating agencies, the investment ratings reflect an internal credit rating provided by the investment adviser or subadviser based on the adviser’s/subadviser’s assessment of the issuer’s credit quality.  There is no assurance that internal credit ratings correspond to, or are consistent with, ratings assigned by a third-party rating agency, and internal credit ratings may differ from ratings subsequently assigned by third-party rating agencies.  A portion of the portfolio's securities may not be rated. 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 06/30/2026

Total Net Assets
$224.73 M
Average Effective Duration
0.72 Years
Average Life
4.24 Years
Number of Issues
361
Average Yield to Maturity
7.62%
Distribution Yield (as of 08/04/2026)
6.80%

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 Effective Maturity is the weighted average of all the maturities of the securities held in a fund. The maturity of a security is the length of time until final payment is due, or if applicable, an earlier date based on relevant factors such as maturity-shortening devices. 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.

Holding Coupon Maturity Assets
Project Panama SPV LLC 2024-17.480% 01/03/20291.9%
Edition Holdings, Inc.8.144% 12/20/20321.3%
BCPE Maverick Parent, LP0.000% 10/14/20271.3%
Bellis Acquisition Company PLC9.755% 10/22/20291.2%
One Call Corporation (fka Opal Acquisition, Inc.)9.482% 09/10/20301.2%
AMCP Clean Acqusition Company, LLC7.982% 06/17/20301.2%
SRT Issuer III LLC7.268% 03/09/20321.2%
NMFC Senior Loan Program III LLC8.423% 08/07/20281.1%
NMFC Senior Loan Program IV LLC8.398% 07/11/20281.1%
365RM Holdco, LLC8.482% 05/06/20331.1%
JNPR AERO LLC TERM LOAN8.413% 11/01/20321.1%
Deerfield Dakota Holding2.750% 09/13/20321.1%
QTS6.300% 03/03/20321.0%
VCI Asset Holdings 1 LLC10.000% 11/20/20301.0%
ALLIED BENEFIT SYS INTRMDT LLC 2025 2ND AMENDMENT TERM LOAN8.644% 10/31/20301.0%
Charter Communications, Inc.5.652% 12/09/20300.9%
Warner Bros. Discovery, Inc. Series A6.147% 05/27/20330.9%
KOALA INVESTMENT HOLDINGS INC TERM LOAN7.982% 08/29/20320.9%
Occidental Petroleum Corporation8.450% 02/15/20290.9%
Tulip Bidco Limited0.070% 12/13/20270.8%
Newmark Group, Inc.7.500% 01/12/20290.8%
Associations Inc.10.420% 07/02/20280.8%
DRS Holdings III, Inc.8.894% 11/01/20280.8%
Goldeneye Parent, LLC8.394% 03/31/20320.8%
Citadel Finance LLC5.900% 02/10/20300.8%
Ford Motor Company5.800% 03/08/20290.8%
Citigroup Inc.4.809% 09/11/20310.8%
TITAN BW BORROWER L.P.2.875% 07/24/20320.8%
Harp Finco Limited8.730% 03/27/20320.8%
Nomura Holdings Inc.4.586% 06/29/20290.8%
EAGLE BIDCO LIMITED 2025 GBP TERM LOAN B8.230% 02/29/20320.8%
Cambrex Corp.8.394% 03/05/20320.7%
Opseo Holding B.V.7.191% 12/24/20320.7%
OB Global Openbet Holdings 2 LLC9.728% 09/24/20290.7%
Russell Investments US Institutional Holdco Inc0.750% 12/29/20320.7%
Pacioli UK Midco Limited8.727% 04/14/20320.7%
SILK HOLDINGS III CORP 2025 5TH AMENDMENT TERM LOAN8.114% 12/03/20320.7%
Bank of America Corp4.640% 01/24/20310.7%
Ladder Capital Corp.4.250% 02/01/20270.7%
Wisdom Purchaser, LLC8.232% 07/24/20320.7%
Elk Bidco, Inc8.232% 06/14/20320.7%
eStruxture Issuer Limited Partnership5.894% 07/20/20550.6%
CI (MG) GROUP, LLC9.232% 03/27/20300.6%
Viking River Cruises5.000% 02/15/20280.6%
37 Capital CLO Ltd5.173% 07/15/20380.6%
First Citizens BancShares, Inc.5.231% 03/12/20310.6%
Golden Hippo Pet, LLC7.908% 12/31/20300.6%
Antares CLO 2017-26.075% 04/20/20370.6%
Antares CLO 2017-27.575% 04/20/20370.6%
Golub Capital Partners CLO Ltd 2023-656.075% 04/20/20370.6%
Golub Capital Partners CLO Ltd 2023-657.575% 04/20/20370.6%
PG&E Corporation5.250% 07/01/20300.6%
VCI ASSET HOLDINGS 2 LLC FIXED TERM LOAN7.375% 02/18/20310.6%
Hannon Armstrong Sustainable Infrastructure Capital, Inc.3.750% 09/15/20300.5%
Sigma Irish Acquico Limited7.541% 03/19/20320.5%
UFT BUYER LLC TERM LOAN B2.750% 12/06/20320.5%
LHS Borrower LLC8.894% 09/04/20310.5%
Sigma Irish Acquico Limited8.870% 03/19/20320.5%
MGIC Investment Corporation5.250% 08/15/20280.5%
CT Technologies Intermediate Holdings (Topco), Inc.8.394% 09/02/20310.5%
INCREF LLC5.300% 01/19/20440.5%
SESAC Finance, LLC5.500% 07/25/20550.4%
LIDOPUR8.432% 04/04/20330.4%
Island Finance Trust 2025-16.540% 03/19/20350.4%
APPLE AU FINCO PTY LTD AUD TERM LOAN B29.243% 05/30/20330.4%
Ford Motor Company9.300% 03/01/20300.4%
Sothebys ArtFi Master Trust4.927% 06/20/20330.4%
NFO ORANGE BUYER LLC DELAYED DRAW TERM LOAN8.245% 01/13/20330.4%
NRG Energy, Inc.7.467% 07/31/20280.4%
SABER PARENT HOLDINGS CORP TERM LOAN2.250% 12/16/20320.4%
Pathfinder Bidco Limited8.731% 04/08/20330.4%
American Airlines Group Inc.7.250% 02/15/20280.4%
Arini US CLO Limited6.573% 04/15/20380.4%
Expand Energy Corporation5.375% 02/01/20290.4%
Mitsubishi UFJ Financial Group Inc.4.823% 04/21/20320.4%
XPO, Inc.6.250% 06/01/20280.4%
Freeport-McMoRan, Inc.5.000% 09/01/20270.4%
Abry Liquid Credit CLO Ltd5.775% 10/20/20380.4%
Constellation Energy Group4.625% 02/01/20290.4%
Cherry Securitization Trust6.130% 11/15/20320.4%
Dryden Senior Loan Fund5.675% 04/18/20370.4%
Navesink CLO, Limited5.347% 07/25/20330.4%
Warwick Capital CLO Ltd5.211% 03/15/20390.4%
PFP III5.137% 08/18/20430.4%
PFP III5.126% 12/18/20420.4%
BSPRT Issuer, Ltd.5.022% 01/17/20430.4%
DailyPay Securitization Trust5.630% 06/26/20280.4%
TierPoint Issuer LLC6.150% 04/26/20550.4%
PFP III5.450% 12/18/20430.4%
Hilcorp Energy Co.5.393% 02/11/20300.4%
Permian Resources Corporation5.875% 07/01/20290.4%
Perimeter Master Note Business Trust5.580% 12/16/20300.4%
Restaurant Brands International4.375% 01/15/20280.4%
Foresight US Bidco, Inc3.662% 04/07/20330.4%
Flutter Entertainment Plc5.427% 11/29/20300.4%
Mattel, Inc.3.750% 04/01/20290.4%
SCALELOGIX ABS US ISSUER, LLC5.673% 07/25/20550.4%
Paramount Skydance Corporation3.700% 06/01/20280.4%
SPCM SA3.375% 03/15/20300.4%
Rome Wildlife, Inc.0.000% 05/05/20270.4%
Zaxby's Funding LLC3.238% 07/30/20510.3%
Cerity Partners Equity Holding LLC0.500% 07/28/20310.3%
Foresight Italy Bidco S.P.A.0.000% 04/07/20330.3%
MLTI Trust5.221% 06/15/20310.3%
Yucca Growth Infrastructure, LLC2.000% 09/18/20260.3%
VFI ABS LLC5.600% 04/24/20310.3%
ACREC LLC5.100% 07/18/20430.3%
QTS0.500% 10/31/20280.3%
FMC Corporation3.450% 10/01/20290.3%
LGI Homes, Inc.8.750% 12/15/20280.3%
Nissan Motor Co. Ltd.5.550% 09/13/20290.3%
Obra CLO Ltd5.525% 01/20/20380.3%
DENTALCORP HEALTH SERVICES LTD CAD REVOLVER7.286% 01/14/20330.3%
Rocket Companies, Inc.3.625% 03/01/20290.3%
F&G Annuities & Life Inc7.400% 01/13/20280.3%
Chartwell Cumming Holding Corp0.000% 06/16/20330.3%
Polus US CLO Ltd5.575% 07/20/20380.3%
Barrow Hanley CLO I Ltd5.675% 01/20/20380.3%
Talos Energy, Inc.9.000% 02/01/20290.3%
Pagaya AI Debt Selection Trust5.011% 08/15/20350.3%
Man US CLO Ltd5.770% 04/17/20390.3%
EquipmentShare.com Inc.9.000% 05/15/20280.3%
Red Oak Funding Master Trust5.609% 12/20/20300.3%
Kinetic Advantage Master Owner Trust5.793% 10/15/20290.3%
Hillenbrand, Inc.6.250% 02/15/20290.3%
CT Technologies Intermediate Holdings (Topco), Inc.1.000% 09/02/20310.3%
Warner Bros. Discovery, Inc. Series A4.054% 03/15/20290.3%
ZENITH ACQUISITIONCO LLC REVOLVER8.169% 01/13/20330.3%
First Citizens Loan Trust5.681% 05/27/20530.3%
Pacific National Holdings Pty Ltd4.750% 03/22/20280.3%
Medline Industries, Inc.6.250% 04/01/20290.3%
Virgin Media Finance Plc5.500% 05/15/20290.3%
American Airlines Group Inc.3.950% 07/11/20300.3%
CI (MG) GROUP, LLC1.000% 03/27/20300.3%
Continental Finance Credit Credit Card ABS Master Trust5.780% 12/15/20320.3%
Empire Resorts Inc.7.750% 11/01/20260.3%
Kraken Oil & Gas Partner7.625% 08/15/20290.2%
Pinnacle Financial Partners, Inc.7.538% 02/07/20290.2%
Edition Holdings, Inc.1.000% 12/20/20320.2%
Gallatin Funding Ltd5.975% 10/20/20370.2%
Algoma Steel Inc9.125% 04/15/20290.2%
Saturn Oil & Gas, Inc.9.625% 06/15/20290.2%
Provident Funding9.750% 09/15/20290.2%
LSB Industries, Inc.6.250% 10/15/20280.2%
VistaJet9.500% 06/01/20280.2%
Seadrill Finance Ltd.8.375% 08/01/20300.2%
CONSULT BIDCO LTD GBP TERM LOAN8.728% 03/04/20330.2%
Vibrant CLO Ltd8.675% 04/20/20360.2%
Venture Global LNG Inc.9.500% 02/01/20290.2%
Barings Issuer LLC5.239% 08/20/20430.2%
RFNA LP7.875% 02/15/20300.2%
Full House Resorts, Inc.8.250% 02/15/20280.2%
C&S Wholesale Grocers Inc5.000% 12/15/20280.2%
Signal Peak CLO, LLC5.825% 10/20/20370.2%
Freedom Mortgage Corp.9.250% 02/01/20290.2%
Nassau LTD5.618% 01/15/20350.2%
Sona US CLO 1 Ltd5.740% 04/25/20390.2%
Lumen Technologies, Inc.6.875% 01/15/20280.2%
Rakuten, Inc.9.750% 04/15/20290.2%
Hunt Companies5.250% 04/15/20290.2%
Rocket Companies, Inc.6.500% 08/01/20290.2%
Alaska Air Group, Inc.5.021% 10/20/20290.2%
The BAHA Trust7.069% 12/10/20410.2%
Flutter Entertainment Plc6.375% 04/29/20290.2%
Republic Finance Issuance Trust8.830% 11/20/20370.2%
Black Diamond CLO Ltd6.123% 10/15/20380.2%
Civitas Resources, Inc.8.375% 07/01/20280.2%
Park Blue CLO Ltd5.855% 04/20/20380.2%
Vibrant CLO Ltd5.625% 10/20/20370.2%
Morgan Stanley4.601% 04/10/20300.2%
Silver Point CLO, Ltd5.473% 07/15/20380.2%
Bluemountain CLO Ltd5.517% 10/25/20300.2%
Madison Park Funding Ltd5.375% 04/18/20370.2%
ARKO Corp5.125% 11/15/20290.2%
Zions Bancorporation NA4.483% 02/09/20290.2%
BX Trust7.375% 07/15/20440.2%
1345 Trust5.625% 06/15/20420.2%
Greystone Commercial Real Estate Notes5.764% 01/15/20430.2%
Bayview Opportunity Master Fund VII5.940% 09/25/20340.2%
Bayview Opportunity Master Fund VII5.490% 09/25/20340.2%
PFP III5.679% 12/18/20420.2%
TEXAS Commercial Mortgage Trust6.716% 04/15/20420.2%
Pagaya Point of Sale Holdings Grantor Trust5.715% 01/20/20340.2%
Air Canada Inc.3.600% 03/15/20270.2%
SWCH Commercial Mortgage Trust5.468% 02/15/20420.2%
Velocity Vehicle Group8.000% 06/01/20290.2%
Iceland Bondco Plc4.375% 05/15/20280.2%
DRS HOLDINGS III INC 2026 6TH AMENDMENT TERM LOAN8.894% 11/01/20280.2%
Herbalife Ltd.4.875% 06/01/20290.2%
Arbor Realty Commercial Real Estate Notes5.472% 01/20/20430.2%
Stonegate Pub Company10.750% 07/31/20290.2%
Driven Brands Funding, LLC5.296% 10/20/20550.2%
Alta Equipment Group, Inc.9.000% 06/01/20290.2%
PENN Entertainment, Inc.4.125% 07/01/20290.2%
UFT BUYER LLC TERM LOAN B0.500% 12/06/20320.2%
Wabash National Corporation4.500% 10/15/20280.2%
Sierra Receivables Funding Co LLC7.480% 06/20/20410.2%
ZF Friedrichshafen AG6.875% 04/14/20280.2%
Kedrion SpA6.500% 09/01/20290.2%
Coronado Global Resources Inc.9.250% 10/01/20290.2%
Flagstar Bank, National Association6.695% 11/06/20280.2%
DENTSPLY SIRONA, Inc.3.250% 06/01/20300.2%
Rain Industries Ltd.12.250% 09/01/20290.2%
Prestige Auto Receivables Trust5.340% 11/15/20280.2%
ViaSat, Inc.6.500% 07/15/20280.2%
Sigma Irish Acquico Limited0.500% 03/19/20320.2%
KOALA INVESTMENT HOLDINGS INC TERM LOAN0.500% 08/29/20320.2%
Consult Bidco Ltd8.618% 03/03/20330.2%
ALLIED BENEFIT SYS INTRMDT LLC 2025 2ND AMENDMENT TERM LOAN1.000% 10/31/20300.2%
SEB Funding LLC6.665% 01/30/20560.2%
U.S. Bank National Association5.595% 12/25/20460.2%
Mineral Resources Ltd9.250% 10/01/20280.2%
BSPDF Issuer Ltd5.087% 09/18/20430.2%
CZECHOSLOVAK GROUP as6.500% 01/10/20310.2%
Arini US CLO Limited6.661% 01/15/20390.2%
Bridgecrest Lending Auto Secur7.840% 08/15/20290.2%
P&L DEV LLC/PLD FIN CORP12.000% 05/15/20290.2%
Freddie Mac - STACR4.878% 03/25/20440.2%
BX Trust6.075% 02/15/20430.2%
Saratoga Investment Corp CLO Ltd6.075% 10/20/20370.2%
Madison Avenue Trust5.818% 10/15/20420.2%
Hardee's Funding5.710% 06/20/20480.1%
Piedmont Office Realty Trust, Inc. Class A9.250% 07/20/20280.1%
DBC 2025-DBC Mortgage Trust6.226% 11/15/20420.1%
SHRN Trust5.875% 10/15/20400.1%
Comstock Resources, Inc.6.750% 03/01/20290.1%
SunCoke Energy, Inc.4.875% 06/30/20290.1%
R.R. Donnelley & Sons Company8.394% 08/08/20290.1%
Mauser Packaging Solutions9.250% 04/15/20270.1%
FS Rialto Issuer Ltd5.024% 08/19/20420.1%
CT Technologies Intermediate Holdings (Topco), Inc.0.500% 08/30/20310.1%
Elk Bidco, Inc1.000% 06/14/20320.1%
Transocean Ltd.8.000% 09/30/20280.1%
Bryant Park Funding Ltd5.573% 04/15/20380.1%
365RM Holdco, LLC0.500% 05/06/20330.1%
ZENITH ACQUISITIONCO LLC REVOLVER8.169% 01/13/20330.1%
Compass Diversified Holdings5.250% 04/15/20290.1%
US LBM Holdings, Inc.6.250% 01/15/20290.1%
FORESIGHT US BIDCO INC EUR REVOLVER1.000% 03/23/20330.1%
Team Health Holdings Inc.8.375% 06/30/20280.1%
Centene Corporation2.450% 07/15/20280.1%
TITAN BW BORROWER L.P.0.500% 07/22/20320.1%
LIDOPUR0.250% 04/04/20330.1%
The Huntington National Bank8.859% 05/20/20320.1%
Elk Bidco, Inc0.375% 06/14/20320.1%
Associations Inc.0.000% 07/02/20280.1%
U.S. Bank National Association5.582% 02/25/20320.1%
Goldeneye Parent, LLC0.375% 03/31/20320.1%
Aston Martin Capital10.000% 03/31/20290.1%
Opseo Holding B.V.1.000% 12/24/20320.1%
Post Road Equipment Finance5.430% 05/15/20310.1%
Hess Midstream LP Class A5.125% 06/15/20280.1%
Clarus Capital Funding LLC5.910% 11/20/20340.1%
U.S. Bank National Association6.328% 02/25/20320.1%
Black Diamond CLO Ltd6.967% 04/25/20390.1%
CVS Health Corporation5.298% 01/11/20270.1%
SABER PARENT HOLDINGS CORP TERM LOAN1.000% 12/16/20320.1%
Cambrex Corp.8.394% 03/05/20320.1%
Golden Hippo Pet, LLC8.400% 02/05/20310.1%
Post Road Equipment Finance5.510% 10/17/20330.1%
Curaleaf Holdings, Inc.11.500% 02/18/20290.1%
Scih Salt Holdings Inc.6.625% 05/01/20290.1%
Edition Holdings, Inc.0.500% 12/20/20320.1%
American Bath Group7.000% 12/01/20280.1%
ARES Commercial Mortgage Trust5.975% 03/15/20380.1%
Freddie Mac - STACR4.878% 08/25/20440.1%
Freddie Mac - STACR4.878% 05/25/20440.1%
Fannie Mae - CAS4.628% 07/25/20450.1%
Cambrex Corp.0.500% 03/05/20320.1%
Navesink CLO, Limited7.323% 01/15/20360.1%
Sandstone Peak, Ltd10.747% 04/25/20370.1%
MOUNTAIN VIEW CLO7.330% 10/16/20370.1%
Golub Capital Partners CLO, LTD5.980% 04/17/20380.1%
Trinitas CLO Ltd6.075% 07/20/20380.1%
Deerfield Dakota Holding0.500% 09/13/20320.1%
AGL CLO Ltd.5.264% 07/22/20380.1%
CONSULT BIDCO LTD GBP TERM LOAN1.000% 03/04/20330.1%
Fannie Mae - CAS4.828% 07/25/20450.1%
Pathfinder Bidco Limited1.000% 04/08/20330.1%
NFO ORANGE BUYER LLC DELAYED DRAW TERM LOAN0.000% 01/13/20330.1%
EquipmentShare5.700% 12/20/20320.1%
One Call Corporation (fka Opal Acquisition, Inc.)0.500% 09/02/20300.1%
U.S. Bank National Association5.528% 02/25/20320.1%
VCI Intermediate TopCo 2 LLC0.000% -0.1%
Associations Inc.0.000% 07/02/20280.1%
PLYM Commercial Mortgage Trust5.775% 03/15/20430.1%
365RM Holdco, LLC0.000% 05/06/20330.1%
Freddie Mac - STACR8.978% 08/25/20420.1%
The Huntington National Bank7.609% 10/20/20320.1%
NYC Commercial Mortgage Trust5.483% 02/15/20430.1%
Seven & i Holdings Co. Ltd.4.847% 12/11/20280.1%
KOALA INVESTMENT HOLDINGS INC TERM LOAN0.375% 08/29/20320.1%
CAJUN GLOBAL LLC5.912% 11/20/20550.1%
Freddie Mac - STACR4.578% 09/25/20450.1%
Transocean Ltd.7.000% 06/01/20280.1%
Bayview Opportunity Master Fund VII5.428% 06/25/20470.1%
Wisdom Purchaser, LLC0.500% 07/24/20320.1%
UFT BUYER LLC TERM LOAN B0.500% 12/06/20320.1%
ELARA HGV TIMESHARE ISSUER6.910% 01/25/20400.1%
Associations Inc.0.000% 07/02/20280.1%
Prestige Auto Receivables Trust4.560% 02/15/20290.1%
TITAN BW BORROWER L.P.0.500% 07/24/20320.1%
CRM SERIES SELLER 2025 LLC0.005% 08/18/20270.1%
CI (MG) GROUP, LLC0.500% 03/27/20300.1%
Freddie Mac - STACR5.478% 11/25/20430.1%
Chartwell Cumming Holding Corp8.383% 06/16/20330.1%
Fannie Mae - CAS4.628% 02/25/20450.1%
NFO ORANGE BUYER LLC DELAYED DRAW TERM LOAN0.500% 01/13/20330.1%
Dell Equipment Finance Trust5.190% 11/22/20320.1%
Russell Investments US Institutional Holdco Inc0.500% 12/29/20320.1%
DENTALCORP HEALTH SERVICES LTD CAD REVOLVER0.500% 01/14/20330.1%
JNPR AERO LLC TERM LOAN0.375% 11/01/20320.1%
SABER PARENT HOLDINGS CORP TERM LOAN0.500% 12/16/20320.1%
CVS Health Corporation5.880% 01/10/20280.1%
DRS Holdings III, Inc.0.500% 11/01/20280.1%
Altern Marketing, LLC7.914% 02/05/20310.1%
SILK HOLDINGS III CORP 2025 5TH AMENDMENT TERM LOAN0.500% 12/03/20320.1%
ZENITH ACQUISITIONCO LLC REVOLVER0.500% 01/13/20330.1%
Associations Inc.0.500% 07/02/20280.1%
Yucca Growth Infrastructure, LLC6.646% 09/18/20260.0%
VCI Intermediate Topco 1 LLC0.000% -0.0%
HealthPort0.000% 09/02/20310.0%
APPLE AU FINCO PTY LTD AUD DDTL C21.900% 05/30/20330.0%
NEW YORK CITY NY INDL DEV AGY RENTAL REVENUE11.000% 03/01/20290.0%
LHS Borrower LLC0.500% 09/04/20310.0%
DENTALCORP HEALTH SERVICES LTD CAD REVOLVER0.500% 01/14/20330.0%
CPS Auto Trust4.850% 02/17/20320.0%
Cerity Partners Equity Holding LLC0.500% 07/28/20310.0%
Golden Hippo Pet, LLC1.000% 12/31/20300.0%
BSFR II UTE I LLC0.003% 03/24/20280.0%
Clear Channel Outdoor Holdings Inc7.750% 04/15/20280.0%
Chartwell Cumming Holding Corp0.500% 06/16/20330.0%
Altern Marketing, LLC0.500% 02/05/20310.0%
Mattel, Inc.5.875% 12/15/20270.0%
Opseo Holding B.V.1.000% 10/21/20320.0%
Fannie Mae - CAS4.478% 01/25/20460.0%
Hilcorp Energy Co.6.250% 11/01/20280.0%
Fannie Mae - CAS4.628% 07/25/20440.0%
Fannie Mae - CAS4.778% 09/25/20440.0%
APPLE AU FINCO PTY LTD AUD DDTL C21.900% 05/30/20330.0%
APPLE AU FINCO PTY LTD AUD DDTL C29.243% 05/30/20330.0%
Freddie Mac - STACR4.578% 02/25/20450.0%
Holding Coupon Maturity Assets
Project Panama SPV LLC 2024-1 7.480% 01/03/2029 1.9%
Edition Holdings, Inc. 8.144% 12/20/2032 1.3%
BCPE Maverick Parent, LP 0.000% 10/14/2027 1.3%
Bellis Acquisition Company PLC 9.755% 10/22/2029 1.2%
One Call Corporation (fka Opal Acquisition, Inc.) 9.482% 09/10/2030 1.2%
AMCP Clean Acqusition Company, LLC 7.982% 06/17/2030 1.2%
SRT Issuer III LLC 7.268% 03/09/2032 1.2%
NMFC Senior Loan Program III LLC 8.423% 08/07/2028 1.1%
NMFC Senior Loan Program IV LLC 8.398% 07/11/2028 1.1%
365RM Holdco, LLC 8.482% 05/06/2033 1.1%
% of Total Assets 12.6%

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

For
YTD Dividends Paidas of 08/04/2026
$0.39707
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 07/31/2026 $0.05676 $10.01
Daily Daily 06/30/2026 $0.05589 $10.02
Daily Daily 05/31/2026 $0.05737 $10.02
Daily Daily 04/30/2026 $0.05484 $10.01
Daily Daily 03/31/2026 $0.05688 $10.00
Daily Daily 02/28/2026 $0.05604 $10.05
Daily Daily 01/31/2026 $0.05930 $10.07

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 08/31/2026
Daily Daily 09/30/2026
Daily Daily 10/31/2026
Daily Daily 11/30/2026
Daily Daily 12/31/2026

Fees & Expenses

Fees & Expenses

Expense Ratio

Fund Gross Expense Ratio 2.55%
Fund Net Expense Ratio 1.31%
Adjusted Expense Ratio 0.75%

Expense ratio details, Click here.

Adjusted Expense Ratio – Excludes certain investment expenses, such as interest expense from borrowings estimated to be incurred by the Fund in its first year of operations.

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 Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Repurchase Calendar
Publish Date:11/03/2015

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

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.

 

IMPORTANT INFORMATION

 

These materials do not purport to provide any legal, tax, or accounting advice.

Apollo Credit Management, LLC, serves as the investment sub-adviser of the Fund (the “Sub-Adviser”). The Sub-Adviser is registered as an investment advisor with the SEC under the Advisers Act. The Sub-Adviser is an affiliate of Apollo Global Management, Inc. and its consolidated subsidiaries (“Apollo”).

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investing strategy.

Risks to Consider: The Fund discussed is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, interest rate risk and management risk. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the prices of debt securities tend to rise. In addition, the loans including in the strategy may include loans that are first lien, second lien, third lien or that are unsecured, and loans may become non-performing for a variety of reasons.  More generally, debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal.  Many of the investments as part of the strategy may be illiquid. Liquidity risk exists when particular investments are difficult to purchase or sell at the time that is beneficial or at the price that reflects what such investments are currently worth. Illiquid securities may become harder to value, especially in changing markets.  The Fund 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 Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can adversely affect performance. 

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.

 

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

 

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.

 

1

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.

 

2

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

 

3

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

The ICE BofA 1-3 Year BBB US Corporate Index is a subset of The ICE BofA US Corporate Index, including all securities with a remaining term to final maturity less than 3 years and rated BBB1 through BBB3, inclusive. The ICE BofA 1-3 Year U.S. Corporate Index is an unmanaged index comprised of U.S. dollar denominated investment grade corporate debt securities publicly issued in the U.S. domestic market with between one and three year remaining to final maturity.

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