Credit Opportunities Fund | Lord Abbett

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Credit Opportunities Fund

Summary

Summary

What is the Credit Opportunities Fund?

The Fund seeks to deliver high current income and total return through a flexible strategy investing across a broad range of global fixed income sectors.

A LEADER IN CREDIT

An investment team with proven capabilities across corporate credit and structured product sectors.

A FLEXIBLE APPROACH

Flexibility to capture opportunities across multiple sectors of the global fixed income markets.

AN EXPANDED OPPORTUNITY SET

Potential for enhanced yield and return in less liquid sectors of fixed income markets through an interval fund structure.

Yield

12-Month Dividend Yield 1 as of 03/23/2023  

w/o sales charge 8.90%

30-Day Standardized Yield 2 as of 02/28/2023  

9.48%

Average Yield to Worst as of 02/28/2023

11.8%

Fund Basicsas of 02/28/2023

Total Net Assets
$1.27 B
Inception Date
02/22/2019
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.40%
Fund Net Expense Ratio
1.40%
Number of Holdings
147
Minimum Initial Investment

Fund Expense Ratio :

1.40%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge 3.46% -4.92% 6.64% - - 6.43%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index 2.58% -5.45% 1.13% - - -

Fund Expense Ratio :

1.40%

Fund Expense Ratio :

1.40%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge -8.58% -8.58% 5.35% - - 5.77%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index -11.16% -11.16% -0.24% - - -

Fund Expense Ratio :

1.40%

RELATED CONTENT

Interval Funds Explained

Interval funds can allocate to asset classes that are less liquid than those typically found in mutual funds but may offer the potential to generate higher long-term returns.

 

LEAD PORTFOLIO MANAGERS

lapin

Jeffrey D. Lapin, J.D.
Partner & Portfolio Manager
24 Years of Industry Experience

castle

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

yuoh

Kewjin Yuoh
Partner & Portfolio Manager
27 Years of Industry Experience

kang

Eric P. Kang
Managing Director, Portfolio Manager
22 Years of Industry Experience

 

INVESTMENT COUNCIL

rocco

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

gizzo

Christopher Gizzo, CFA
Partner, Deputy Director of Leveraged Credit
13 Years of Industry Experience

Lehmann-Jeremy_headshot

Jeremy Lehmann, CFA
Portfolio Manager
9 Years of Industry Experience

Novak-John_headshot

John M. Novak, CFA
Research Analyst
25 Years of Industry Experience

Trifon-Harris_headshot

Harris Trifon
Managing Director, Portfolio Manager
21 Years of Industry Experience

Skulkina-Mila_headshot

Mila Skulkina, CFA
Managing Director, Portfolio Manager
20 Years of Industry Experience

lombardi

Annika Lombardi
Managing Director, Portfolio Manager 
14 Years of Industry Experience

Solomon-Todd_headshot

Todd Solomon
Portfolio Manager
25 Years of Industry Experience

Posner-Kearney_headshot

Kearney Posner, CFA
Partner, Portfolio Manager
23 Years of Industry Experience

Supported By 59 Investment Professionals with 15 Years Avg. Industry Experience

Performance

Performance

12-Month Dividend Yield 1 as of 03/23/2023  

w/o sales charge 8.90%

30-Day Standardized Yield 2 as of 02/28/2023  

  Subsidized3 Un-Subsidized4
w/o sales charge 9.48% 9.48%

Fund Expense Ratio :

Gross 1.40%

Net 1.40%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge 3.46% -4.92% 6.64% - - 6.43%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index 2.58% -5.45% 1.13% - - -
w/ sales charge 3.46% -4.92% 6.64% - - 6.43%

Fund Expense Ratio :

Gross 1.40%

Net 1.40%

Fund Expense Ratio :

Gross 1.40%

Net 1.40%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge -8.58% -8.58% 5.35% - - 5.77%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index -11.16% -11.16% -0.24% - - -

Fund Expense Ratio :

Gross 1.40%

Net 1.40%

Year Fund Returns ICE BofA U.S. High Yield Constrained Index
2022 -8.58% -11.16%
2021 13.35% 5.35%
2020 12.84% 6.07%
2019 6.19% 14.41%
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 - - - - 2.30%
2022 -1.08% -8.91% -0.05% 1.51% -8.58%
2021 5.75% 4.58% 2.02% 0.47% 13.35%
2020 -17.25% 13.31% 6.99% 12.48% 12.84%
2019 - 2.52% -0.33% 2.81% 6.19%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
U.S. High Yield Corporate
Bank Loans
Non-U.S. High Yield Corporate
ABS
CLO
CMBS
U.S. Investment Grade Corporate
Emerging Market
Convertibles
Equity
MBS
Cash
Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

Credit Quality Distribution as of 02/28/2023

Rating Assets
Agency
BBB
BB
B
CCC
<CCC
Not Rated

Portfolio Details as of 02/28/2023

Total Net Assets
$1.27 B
Number of Issues
147
Average Coupon
7.79%
Average Life
4.45 Years
Average Maturity
5.48 Years
Average Effective Duration
2.39 Years
Average Yield to Worst
11.8%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 03/23/2023
$0.133
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 02/28/2023 $0.06921 $8.96
Daily Daily 01/31/2023 $0.06473 $9.06

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 03/31/2023
Daily Daily 04/30/2023
Daily Daily 05/31/2023
Daily Daily 06/30/2023
Daily Daily 07/31/2023
Daily Daily 08/31/2023
Daily Daily 09/30/2023
Daily Daily 10/31/2023
Daily Daily 11/30/2023
Daily Daily 12/31/2023

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/19/2022 12/20/2022 $0.0637 $0.0428 $0.1065 $8.81
07/27/2022 07/28/2022 $0.0302 - $0.0302 $9.16

Fees & Expenses

Fees & Expenses

Expense Ratio

Fund Gross Expense Ratio Fund Net Expense Ratio
1.40% 1.40%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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SAI
Publish Date:11/03/2015
Annual Report
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Fact Sheet
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Publish Date:11/03/2015

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