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

Average Yield to Maturity as of 04/30/2024

10.54%

30-Day Standardized Yield 1 as of 04/30/2024  

11.45%

Fund Basicsas of 04/30/2024

Total Net Assets
$1.95 B
Inception Date
02/22/2019
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.68%
Fund Net Expense Ratio
1.68%
Number of Holdings
156
Minimum Initial Investment

Fund Expense Ratio :

1.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge 3.34% 10.71% 3.53% 6.80% - 7.08%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index 0.51% 8.96% 1.55% 3.55% - -

Fund Expense Ratio :

1.68%

Fund Expense Ratio :

1.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge 3.76% 11.72% 4.16% 7.21% - 7.29%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index 1.53% 11.14% 2.25% 4.04% - -

Fund Expense Ratio :

1.68%

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

Rocco-Steve_headshot

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

Castle-Adam_headshot

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

Yuoh-Kewjin_headshot

Kewjin Yuoh
Partner & Portfolio Manager
30 Years of Industry Experience

Kang-Eric_headshot

Eric P. Kang
Partner, Portfolio Manager
25 Years of Industry Experience

 

INVESTMENT COUNCIL

Gizzo-Christopher_headshot

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

Lehmann-Jeremy_headshot

Jeremy Lehmann, CFA
Portfolio Manager
12 Years of Industry Experience

Novak-John_headshot

John M. Novak, CFA
Head of Loan-Only & Private Credit Research
28 Years of Industry Experience

Trifon-Harris_headshot

Harris Trifon
Partner, Portfolio Manager
24 Years of Industry Experience

Gunnerson-Karen_headshot

Karen Gunnerson
Portfolio Manager
14 Years of Industry Experience

Skulkina-Mila_headshot

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

Lombardi-Annika_headshot

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

Solomon-Todd_headshot

Todd Solomon
Portfolio Manager
28 Years of Industry Experience

Posner-Kearney_headshot

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

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

Performance

Performance

Average Yield to Maturity as of 04/30/2024

10.54%

30-Day Standardized Yield 1 as of 04/30/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 11.45% 11.45%

Fund Expense Ratio :

Gross 1.68%

Net 1.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge 3.34% 10.71% 3.53% 6.80% - 7.08%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index 0.51% 8.96% 1.55% 3.55% - -
w/ sales charge 3.34% 10.71% 3.53% 6.80% - 7.08%

Fund Expense Ratio :

Gross 1.68%

Net 1.68%

Fund Expense Ratio :

Gross 1.68%

Net 1.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge 3.76% 11.72% 4.16% 7.21% - 7.29%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index 1.53% 11.14% 2.25% 4.04% - -

Fund Expense Ratio :

Gross 1.68%

Net 1.68%

Year Fund Returns ICE BofA U.S. High Yield Constrained Index
2023 11.15% 13.55%
2022 -8.58% -11.16%
2021 13.35% 5.35%
2020 12.84% 6.07%
Year Q1 Q2 Q3 Q4
2024 3.76% - - -
2023 3.23% 1.80% 2.40% 3.29%
2022 -1.08% -8.91% -0.05% 1.51%
2021 5.75% 4.58% 2.02% 0.47%
2020 -17.25% 13.31% 6.99% 12.48%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
U.S. High Yield Corporate
ABS
CLO
U.S. Investment Grade Corporate
Non-U.S. High Yield Corporate
Emerging Market
Bank Loans
Non-U.S. Investment Grade Corporate
Convertibles
CMBS
Private Credit
Equity
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 04/30/2024

Rating Assets
BBB
BB
B
CCC
<CCC
Not Rated

Portfolio Details as of 04/30/2024

Total Net Assets
$1.95 B
Average Effective Duration
2.24 Years
Average Life
4.25 Years
Average Maturity
5.9 Years
Number of Issues
156
Average Yield to Maturity
10.54%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 05/24/2024
$0.33456
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2024 $0.09429 $8.84
Daily Daily 03/31/2024 $0.07578 $8.97
Daily Daily 02/29/2024 $0.07812 $8.92
Daily Daily 01/31/2024 $0.08637 $8.91

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 05/31/2024
Daily Daily 06/30/2024
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

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
1.68% 1.68%

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
Commentary
Publish Date:11/03/2015
Fund Story
Publish Date:11/03/2015
Repurchase Calendar
Publish Date:11/03/2015

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