Flexible Income Fund | Lord Abbett

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Flexible Income Fund

fund alert

January 27 is the quarterly deadline to redeem the Flexible Income Fund.

Daily price w/o sales charge as of 12/05/2025

$10.06

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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 10/31/2025

7.46%

Distribution Yield as of 12/05/2025  

7.11%

30-Day Standardized Yield 1 as of 11/30/2025  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.75% 6.07%

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 10/31/2025

Total Net Assets
$167.35 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
265

+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 - - - - - 4.73%
Lipper Category Avg. - - - - - -
ICE Bofa 1-3 yr BBB US Corporate Index - - - - - 3.55%

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 - - - - - 3.71%
Lipper Category Avg. - - - - - -
ICE Bofa 1-3 yr BBB US Corporate Index - - - - - 2.72%

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.

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
24 Years of Industry Experience

OBrien-Andrew_headshot

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

leas-bret_headshot

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

Castle-Adam_headshot

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

Benz-Gregory_headshot

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

vanek-james_headshot

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

As of 01/01/2025

Performance

Performance

Average Yield to Maturity as of 10/31/2025

7.46%

Distribution Yield as of 12/05/2025  

7.11%

30-Day Standardized Yield 1 as of 11/30/2025  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.75% 6.07%

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 - - - - - 4.73%
Lipper Category Avg. - - - - - -
ICE Bofa 1-3 yr BBB US Corporate Index - - - - - 3.55%
w/ sales charge - - - - - 4.73%

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 - - - - - 3.71%
Lipper Category Avg. - - - - - -
ICE Bofa 1-3 yr BBB US Corporate Index - - - - - 2.72%

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 Details as of 10/31/2025

Total Net Assets
$167.35 M
Average Effective Duration
0.35 Years
Average Life
3.92 Years
Average Maturity
7.56 Years
Number of Issues
265
Average Yield to Maturity
7.46%
Distribution Yield (as of 12/05/2025)
7.11%

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 Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. 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% 12/20/20542.8%
Fortress Credit Opportunities 27 CLO B LLC8.314% 03/03/20322.8%
QTS7.110% 03/03/20322.1%
Bellis Acquisition Company PLC10.482% 10/22/20291.9%
One Call Corporation (fka Opal Acquisition, Inc.)9.909% 09/02/20301.8%
Golub Capital Partners CLO Ltd 2023-696.576% 11/09/20361.7%
Audax Senior Debt CLO, LLC 2023-86.726% 10/20/20351.7%
NMFC Senior Loan Program III LLC0.000% 08/07/20281.7%
Deerfield Dakota Holding, LLC2.750% 09/13/20321.5%
Tulip Bidco Limited1.499% 12/13/20271.4%
Gannett Holdings, LLC9.185% 10/15/20291.3%
OB Global Openbet Holdings 2 LLC10.003% 09/24/20291.3%
Koala Investment Holdings, Inc.8.502% 08/30/20321.3%
DRS Holdings III, Inc.9.413% 11/01/20281.3%
Goldeneye Parent, LLC9.163% 03/31/20321.2%
Associations Inc.11.083% 07/03/20281.2%
Accommodations Plus Technologies LLC8.699% 05/28/20321.2%
Eagle Bidco Limited8.717% 02/20/20321.1%
NMFC Senior Loan Program IV LLC0.000% 07/11/20281.1%
TITAN BW BORROWER L.P.2.875% 07/24/20321.1%
Harp Finco Limited9.468% 03/27/20321.1%
Cambrex Corp.8.663% 03/05/20321.1%
Pacioli UK Midco Limited8.968% 04/14/20321.0%
Wisdom Purchaser, LLC8.502% 07/26/20321.0%
Elk Bidco, Inc8.502% 06/14/20321.0%
Benefit Street Partners CLO Ltd5.580% 07/15/20371.0%
ABPCI Direct Lending Fund CLO Ltd6.146% 08/01/20361.0%
eStruxture Issuer Limited Partnership5.894% 07/20/20550.9%
CI (MG) GROUP, LLC9.502% 03/27/20300.9%
37 Capital CLO Ltd5.818% 07/15/20380.9%
Antares CLO 2017-28.170% 04/20/20370.9%
Golub Capital Partners CLO Ltd 2023-658.174% 04/20/20370.9%
Golub Capital Partners CLO Ltd 2023-659.674% 04/20/20370.9%
Antares CLO 2017-26.670% 04/20/20370.8%
Sigma Irish Acquico Limited7.250% 02/27/20320.8%
LHS Borrower LLC9.413% 09/04/20310.8%
Ford Motor Company7.350% 11/04/20270.8%
Sigma Irish Acquico Limited0.000% 03/19/20320.7%
Golub Capital Partners CLO Ltd8.514% 01/20/20360.7%
CT Technologies Intermediate Holdings (Topco), Inc.8.913% 09/02/20310.7%
Gen Digital Inc.5.774% 09/13/20270.7%
QTS0.500% 08/01/20300.7%
Island Finance Trust 2025-16.540% 03/19/20350.7%
Vibrant CLO Ltd5.937% 07/20/20320.6%
EQT Corporation7.500% 06/01/20270.6%
Arini US CLO Limited7.226% 04/15/20380.6%
NMFC Senior Loan Program IV LLC8.752% 07/11/20280.6%
Cherry Securitization Trust6.130% 11/15/20320.6%
Golub Capital Partners CLO Ltd7.064% 01/20/20360.6%
TierPoint Issuer LLC6.150% 04/26/20550.6%
Navesink CLO, Limited5.998% 07/25/20330.6%
HPS Loan Management Ltd5.910% 01/23/20350.6%
Worldpay6.301% 01/31/20310.6%
DailyPay Securitization Trust5.630% 06/26/20280.6%
SESAC Finance, LLC5.500% 07/25/20550.6%
Perimeter Master Note Business Trust5.580% 12/16/20300.6%
SCALELOGIX ABS US ISSUER, LLC5.673% 07/25/20550.6%
Charter Communications, Inc.6.131% 12/09/20300.6%
Abry Liquid Credit CLO Ltd6.085% 10/20/20380.6%
Flutter Entertainment Plc5.773% 11/29/20300.6%
Six Flags Entertainment Corporation6.134% 05/01/20310.6%
Patterson-UTI Energy, Inc.3.950% 02/01/20280.6%
Zaxby's Funding LLC3.238% 07/30/20510.5%
VFI ABS LLC5.600% 04/24/20310.5%
F&G Annuities & Life Inc5.522% 09/08/20280.5%
F&G Annuities & Life Inc7.400% 01/13/20280.4%
Rocket Mortgage LLC3.625% 03/01/20290.4%
Continental Finance Credit Credit Card ABS Master Trust5.780% 12/15/20320.4%
ARES CLO Ltd6.241% 07/18/20340.4%
ICG US CLO Ltd7.312% 07/25/20380.4%
NGPL Pipeco LLC4.875% 08/15/20270.4%
Citigroup Inc.5.353% 09/11/20310.4%
Ladder Capital Corp.4.250% 02/01/20270.4%
HPS Corporate Lending Fund4.900% 09/11/20280.4%
Centene Corporation4.250% 12/15/20270.4%
CI (MG) GROUP, LLC1.000% 03/27/20300.4%
Antero Resources Corporation7.625% 02/01/20290.4%
CT Technologies Intermediate Holdings (Topco), Inc.0.000% 09/02/20310.4%
BHMS Mortgage Trust6.000% 08/15/20420.4%
Sierra Receivables Funding Co LLC7.480% 06/20/20410.4%
Warner Bros. Discovery, Inc. Series A4.054% 03/15/20290.4%
Pacific National Holdings Pty Ltd4.750% 03/22/20280.4%
Anchorage Capital CLO LTD6.364% 04/28/20370.4%
CVS Health Corporation5.298% 01/11/20270.4%
Synovus Financial Corp.7.538% 02/07/20290.4%
Virgin Media Finance Plc4.875% 07/15/20280.4%
Shelf Drilling Ltd.9.625% 04/15/20290.3%
SCG Hotel Issuer Inc6.850% 09/15/20300.3%
Borr IHC Ltd.10.000% 11/15/20280.3%
Vibrant CLO Ltd9.325% 04/20/20360.3%
Avenue of Americas6.430% 08/11/20420.3%
Rad CLO Ltd6.155% 01/20/20370.3%
Rakuten, Inc.9.750% 04/15/20290.3%
LGI Homes, Inc.8.750% 12/15/20280.3%
Talos Energy, Inc.9.000% 02/01/20290.3%
Sabre Corporation8.625% 06/01/20270.3%
FREEDOM MORTGAGE CORP9.250% 02/01/20290.3%
Hannon Armstrong Sustainable Infrastructure Capital, Inc.8.000% 06/15/20270.3%
Open Text6.900% 12/01/20270.3%
CAJUN GLOBAL LLC3.931% 11/20/20510.3%
Saturn Oil & Gas, Inc.9.625% 06/15/20290.3%
SD0816090.000% 09/02/20320.3%
Alaska Air Group, Inc.5.021% 10/20/20290.3%
Civitas Resources, Inc.8.375% 07/01/20280.3%
The Huntington National Bank9.639% 05/20/20320.3%
Hertz Global Holdings Inc12.625% 07/15/20290.3%
The BAHA Trust7.069% 12/10/20410.3%
XPO, Inc.6.250% 06/01/20280.3%
BSTN Commercial Mortgage Trust5.947% 06/15/20440.3%
SEB Funding LLC4.969% 01/30/20520.3%
Viper Energy, Inc.5.375% 11/01/20270.3%
Crown City CLO7.125% 04/20/20370.3%
Orion CLO Ltd.6.618% 07/25/20370.3%
Bluemountain CLO Ltd6.168% 10/25/20300.3%
Madison Park Funding Ltd6.029% 04/18/20370.3%
ARES CLO Ltd6.832% 04/22/20310.3%
Pagaya Point of Sale Holdings Grantor Trust5.715% 01/20/20340.3%
ALA Trust6.243% 06/15/20400.3%
BX Trust7.900% 07/15/20440.3%
Greystone Commercial Real Estate Notes6.289% 01/15/20430.3%
1345 Trust6.150% 06/15/20420.3%
PFP III6.178% 12/18/20420.3%
NRG Energy, Inc.7.467% 07/31/20280.3%
Blackstone Secured Lending Fund3.625% 01/15/20260.3%
TEXAS Commercial Mortgage Trust7.241% 04/15/20420.3%
Arbor Realty Collateralized Loan Obligation Ltd6.060% 01/20/20410.3%
Stellantis NV4.950% 09/15/20280.3%
Vistra Corp.7.233% 05/17/20280.3%
SWCH Commercial Mortgage Trust5.993% 02/15/20420.3%
FMC Corporation0.000% 10/07/20250.3%
APA Corporation4.375% 10/15/20280.3%
Algoma Steel Inc9.125% 04/15/20290.3%
ONE Park Mortgage Trust4.964% 03/15/20360.3%
AMC Networks Inc.10.250% 01/15/20290.3%
BCP V Modular Services Finance II Plc6.125% 11/30/20280.3%
Wabash National Corporation4.500% 10/15/20280.3%
VistaJet9.500% 06/01/20280.3%
ZF Friedrichshafen AG6.875% 04/14/20280.3%
Alta Equipment Group, Inc.9.000% 06/01/20290.3%
Venture Global LNG Inc.8.125% 06/01/20280.3%
Sigma Irish Acquico Limited0.500% 03/19/20320.3%
Koala Investment Holdings, Inc.0.500% 08/30/20320.3%
R.R. Donnelley & Sons Company8.913% 08/08/20290.2%
Transocean Ltd.8.000% 09/30/20280.2%
CTM CLO Ltd6.685% 07/15/20380.2%
Madison Avenue Trust5.631% 10/15/20420.2%
Occidental Petroleum Corporation5.859% 08/03/20260.2%
PrimeSource Building Products6.750% 08/01/20290.2%
Aston Martin Capital10.000% 03/31/20290.2%
Air Canada Inc.3.600% 03/15/20270.2%
U.S. Bank National Association7.056% 02/25/20320.2%
U.S. Bank National Association6.256% 02/25/20320.2%
Trinitas CLO Ltd8.629% 04/18/20370.2%
Nabors Industries Ltd.7.375% 05/15/20270.2%
EquipmentShare.com Inc.9.000% 05/15/20280.2%
Mauser Packaging Solutions9.250% 04/15/20270.2%
Lumen Technologies, Inc.4.250% 07/01/20280.2%
Kennedy-Wilson Holdings, Inc.4.750% 03/01/20290.2%
Community Health Systems, Inc.6.875% 04/15/20290.2%
Univision8.000% 08/15/20280.2%
Elk Bidco, Inc0.000% 06/14/20320.2%
ANGI Homeservices, Inc. Class A3.875% 08/15/20280.2%
Champions Financing Inc8.750% 02/15/20290.2%
Hilcorp Energy Co.6.250% 11/01/20280.2%
Comstock Resources, Inc.6.750% 03/01/20290.2%
SunCoke Energy, Inc.4.875% 06/30/20290.2%
CT Technologies Intermediate Holdings (Topco), Inc.0.500% 08/30/20310.2%
HUSKYI9.000% 02/15/20290.2%
Bryant Park Funding Ltd6.225% 04/15/20380.2%
Tenneco Inc.8.000% 11/17/20280.2%
Sinclair, Inc.5.125% 02/15/20270.2%
Delek Logistics Partners LP7.125% 06/01/20280.2%
LFT CRE LLC6.015% 06/15/20390.2%
Team Health Holdings Inc.8.375% 06/30/20280.2%
Full House Resorts, Inc.8.250% 02/15/20280.2%
TITAN BW BORROWER L.P.0.500% 07/22/20320.2%
Elk Bidco, Inc0.375% 06/14/20320.2%
Accommodations Plus Technologies LLC0.500% 05/28/20320.2%
The Huntington National Bank8.389% 10/20/20320.2%
Goldeneye Parent, LLC0.375% 03/31/20320.2%
LSB Industries, Inc.6.250% 10/15/20280.2%
Curaleaf Holdings, Inc.8.000% 12/15/20260.2%
Carlyle Global Market Strategies11.238% 04/15/20370.2%
Sotheby's7.375% 10/15/20270.2%
Regatta XVI Funding Ltd.6.218% 01/15/20330.2%
Post Road Equipment Finance5.430% 05/15/20310.2%
Trulieve Cannabis Corp.8.000% 10/06/20260.2%
American Airlines Group Inc.7.250% 02/15/20280.2%
Mineral Resources Ltd9.250% 10/01/20280.2%
Cambrex Corp.1.000% 03/05/20320.2%
Stonegate Pub Company10.750% 07/31/20290.2%
Crescent Energy Co.9.250% 02/15/20280.2%
Hardee's Funding5.710% 06/20/20480.2%
American Bath Group7.000% 12/01/20280.2%
Scih Salt Holdings Inc.6.625% 05/01/20290.2%
Silver Point CLO, Ltd11.188% 03/31/20380.1%
Maxeda DIY Group BV5.875% 10/01/20260.1%
Harvest US CLO Ltd11.749% 04/18/20370.1%
Sandstone Peak, Ltd11.398% 04/25/20370.1%
Trimaran CAVU Ltd10.568% 01/25/20380.1%
Trinitas CLO Ltd6.694% 07/20/20380.1%
KKR Financial CLO Ltd8.145% 07/15/20370.1%
HalseyPoint CLO 3, Ltd.8.610% 07/30/20370.1%
Cambrex Corp.0.500% 03/05/20320.1%
Vibrant CLO Ltd7.918% 07/15/20360.1%
AGL CLO Ltd.5.869% 07/22/20380.1%
Deerfield Dakota Holding, LLC0.500% 09/13/20320.1%
Bain Capital Credit CLO Limited7.125% 10/21/20340.1%
ELARA HGV TIMESHARE ISSUER6.910% 01/25/20400.1%
Arbor Realty Commercial Real Estate Notes5.968% 01/20/20430.1%
Tekni-Plex, Inc.12.750% 12/31/20280.1%
Empire Resorts Inc.7.750% 11/01/20260.1%
One Call Corporation (fka Opal Acquisition, Inc.)0.500% 09/02/20300.1%
Cloud Crane11.500% 09/01/20280.1%
Repsol E&P Capital Markets4.805% 09/16/20280.1%
Koala Investment Holdings, Inc.0.500% 08/30/20320.1%
Transocean Ltd.7.000% 06/01/20280.1%
Wisdom Purchaser, LLC0.500% 07/26/20320.1%
Associations Inc.0.000% 07/03/20280.1%
TITAN BW BORROWER L.P.0.500% 07/24/20320.1%
CI (MG) GROUP, LLC0.500% 03/27/20300.1%
DRS Holdings III, Inc.0.500% 11/01/20280.1%
Associations Inc.0.500% 07/03/20280.1%
CT Technologies Intermediate Holdings (Topco), Inc.0.000% 09/02/20310.1%
LHS Borrower LLC0.500% 09/04/20310.1%
BSFR II UTE I LLC0.005% 03/24/20280.0%
Grubhub, Inc.13.000% 07/31/20300.0%
Holding Coupon Maturity Assets
Project Panama SPV LLC 2024-1 7.480% 12/20/2054 2.8%
Fortress Credit Opportunities 27 CLO B LLC 8.314% 03/03/2032 2.8%
QTS 7.110% 03/03/2032 2.1%
Bellis Acquisition Company PLC 10.482% 10/22/2029 1.9%
One Call Corporation (fka Opal Acquisition, Inc.) 9.909% 09/02/2030 1.8%
Golub Capital Partners CLO Ltd 2023-69 6.576% 11/09/2036 1.7%
Audax Senior Debt CLO, LLC 2023-8 6.726% 10/20/2035 1.7%
NMFC Senior Loan Program III LLC 0.000% 08/07/2028 1.7%
Deerfield Dakota Holding, LLC 2.750% 09/13/2032 1.5%
Tulip Bidco Limited 1.499% 12/13/2027 1.4%
% of Total Assets 19.4%

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 12/05/2025
$0.50586
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2025 $0.05959 $10.06
Daily Daily 10/31/2025 $0.05871 $10.06
Daily Daily 09/30/2025 $0.05857 $10.08
Daily Daily 08/31/2025 $0.06370 $10.06
Daily Daily 07/31/2025 $0.05794 $10.04
Daily Daily 06/30/2025 $0.06798 $10.03
Daily Daily 05/31/2025 $0.05095 $10.01

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2025

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
Fact Sheet
Publish Date:11/03/2015
Repurchase Calendar
Publish Date:11/03/2015

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Section 16 Filings available HERE.

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.

Select funds to run a Morningstar Hypothetical Report.