Bank Loan
Summary
Summary
KEY FACTS as of 07/31/2019
Vehicles
- This strategy is available as a:
- Separate Account
- Commingled Trust
- Mutual Fund
- Cayman Fund
PORTFOLIO MANAGERS
Portfolio
Portfolio
Sector Allocationas of 07/31/2019
| Top Overweight | Portfolio | Index | Difference |
|---|---|---|---|
| Aerospace | 3.7% | 2.0% | 1.7% |
| Food/Tobacco | 5.7% | 4.0% | 1.7% |
| Broadcasting | 3.9% | 2.3% | 1.6% |
| Utility | 4.4% | 3.0% | 1.4% |
| Forest Prod/Containers | 3.4% | 2.5% | 0.9% |
| Food And Drug | 1.5% | 0.6% | 0.9% |
| Retail | 4.3% | 3.5% | 0.8% |
| Automotive | 2.9% | 2.2% | 0.7% |
| Consumer Non-Durables | 2.8% | 2.2% | 0.6% |
| Manufacturing | 5.1% | 4.5% | 0.6% |
| Gaming/Leisure | 6.0% | 5.5% | 0.5% |
| Healthcare | 11.9% | 11.4% | 0.5% |
| Metals/Minerals | 1.4% | 1.1% | 0.3% |
| Financial | 6.6% | 6.4% | 0.2% |
| Shipping | 0.6% | 0.4% | 0.2% |
| Telecommunications | 3.6% | 3.5% | 0.1% |
| Other | - | - | 0.0% |
| Consumer Durables | 0.9% | 0.9% | 0.0% |
| Top Underweight | Portfolio | Index | Difference |
|---|---|---|---|
| Energy | 3.2% | 3.3% | -0.1% |
| Cable/Wireless Video | 3.6% | 3.7% | -0.1% |
| Land Transportation | 0.5% | 0.7% | -0.2% |
| Housing | 2.4% | 2.9% | -0.5% |
| Wireless Communications | 0.7% | 1.3% | -0.6% |
| Chemicals | 1.8% | 3.7% | -1.9% |
| Information Technology | 10.1% | 12.1% | -2.0% |
| Diversified Media | 2.2% | 4.4% | -2.2% |
| Service | 7.1% | 11.9% | -4.8% |
Portfolio Breakdownas of 07/31/2019
| Type | Portfolio | Index |
|---|
| Bank Loans | 89.4% | 100.0% |
| High Yield Bonds | 5.3% | - |
| ABS | 0.9% | - |
| Equity | 0.3% | - |
| Investment Grade Bonds | 0.0% | - |
| Cash | 4.2% | - |
Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of forward-settling instruments such as currency forwards, certain mortgage-backed securities, and U.S. treasury futures. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distributionas of 07/31/2019
| Type | Portfolio | Index |
|---|
| BBB | 1.4% | 0.8% |
| BB | 22.2% | 27.7% |
| B | 66.7% | 61.4% |
| <B | 9.0% | 7.4% |
| Not Rated | 0.7% | 2.7% |
Ratings provided by Standard & Poor’s and Moody’s. Where the rating agencies rate a security differently, Lord Abbett uses the lower credit rating. 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.
CHARACTERISTICS as of 07/31/2019
| Portfolio | Index |
|---|
| Portfolio | Index | |
|---|---|---|
| Average Coupon | 5.75% | - |
| Average Effective Duration | 0.35 Years | 0.25 Years |
Portfolio data is based on the Bank Loan Representative Portfolio.
Performance
Performance
Average Annual Returns as of 06/30/2019
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception |
|---|
| Gross of Fees | 5.53% | 3.73% | 5.46% | 4.32% | 6.22% | 5.09% |
| Net of Fees | 5.27% | 3.21% | 4.93% | 3.80% | 5.70% | 4.57% |
| CS Leveraged Loan Index | 5.42% | 4.15% | 5.43% | 3.85% | 6.29% | 4.54% |
Inception Date: January 1, 2008
Returns for periods of less than one year are not annualized.
Calendar Year Returnsas of 06/30/2019
| 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|
| Gross of Fees | 0.55% | 4.70% | 10.78% | 1.14% | 1.74% | 6.75% | 11.01% | 2.30% | 9.09% | 33.25% |
| Net of Fees | 0.05% | 4.18% | 10.23% | 0.64% | 1.23% | 6.22% | 10.46% | 1.79% | 8.55% | 32.60% |
| CS Leveraged Loan Index | 1.14% | 4.25% | 9.88% | -0.38% | 2.06% | 6.15% | 9.43% | 1.82% | 9.97% | 44.87% |