Floating Rate High Income Fund | Lord Abbett

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Floating Rate High Income Fund

Summary

Summary

What is the Floating Rate High Income Fund?

The Fund seeks a high level of current income.

A LEADER IN CREDIT

Managed by an investment team with proven capabilities across leveraged credit and structured product sectors.

AN EXPANDED OPPORTUNITY SET

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

ENHANCED CARRY

Ability to earn greater income through a combination of select high conviction investment ideas and thoughtful incorporation of leverage.

Average Yield to Maturity as of 03/28/2024

9.49%

30-Day Standardized Yield 1 as of 03/31/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 11.08% 8.68%

Fund Basicsas of 03/28/2024

Total Net Assets
$11.83 M
Total Managed Assets
$15.28 M
Inception Date
01/26/2023
Dividend Frequency
Monthly
Fund Gross Expense Ratio
4.10%
Fund Net Expense Ratio
0.25%
Minimum Initial Investment

Fund Expense Ratio :

Gross 4.10%

Net 0.25%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/10/2023
w/o sales charge 3.59% 15.49% - - - 13.21%
Lipper Category Avg. - - - - - -
CS Leveraged Loan Index 2.52% 12.40% - - - 11.74%

Fund Expense Ratio :

Gross 4.10%

Net 0.25%

Fund Expense Ratio :

Gross 4.10%

Net 0.25%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/10/2023
w/o sales charge 3.59% 15.49% - - - 13.21%
Lipper Category Avg. - - - - - -
CS Leveraged Loan Index 2.52% 12.40% - - - 11.74%

Fund Expense Ratio :

Gross 4.10%

Net 0.25%

 

LEAD PORTFOLIO MANAGERS

Rocco-Steve_headshot

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

Kang-Eric_headshot

Eric Kang
Partner, Portfolio Manager
25 Years of Industry Experience

Gizzo-Christopher_headshot

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

Posner-Kearney_headshot

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

Supported By 61 Investment Professionals with 16 Years Avg. Industry Experience

Portfolio

Portfolio

Type Assets
Bank Loans
High Yield Bonds
CLO
ABS
Other
Cash
Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

Credit Quality Distribution as of 03/28/2024

Rating Assets
BB
B
<B
Not Rated

Portfolio Details as of 03/28/2024

Total Net Assets
$11.83 M
Average Effective Duration
0.34 Years
Average Life
4.53 Years
Average Maturity
4.92 Years
Number of Issues
193
Average Yield to Maturity
9.49%

Performance

Performance

Dividend Yield 1 as of 04/15/2024  

  Subsidized3 Un-Subsidized4
w/o sales charge 11.84% 10.57%

30-Day Standardized Yield 2 as of 03/31/2024  

  Subsidized3 Un-Subsidized4
w/o sales charge 11.08% 8.68%

Fund Expense Ratio :

Gross 4.10%

Net 0.25%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/10/2023
w/o sales charge 3.59% 15.49% - - - 13.21%
Lipper Category Avg. - - - - - -
CS Leveraged Loan Index 2.52% 12.40% - - - 11.74%
w/ sales charge 3.59% 15.49% - - - 13.21%

Fund Expense Ratio :

Gross 4.10%

Net 0.25%

Fund Expense Ratio :

Gross 4.10%

Net 0.25%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/10/2023
w/o sales charge 3.59% 15.49% - - - 13.21%
Lipper Category Avg. - - - - - -
CS Leveraged Loan Index 2.52% 12.40% - - - 11.74%

Fund Expense Ratio :

Gross 4.10%

Net 0.25%

NAV Historical Prices

Date Net Asset Value

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 04/15/2024
$0.28312
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 03/31/2024 $0.10130 $10.29
Daily Daily 02/29/2024 $0.08774 $10.25
Daily Daily 01/31/2024 $0.09409 $10.22

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 04/30/2024
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
12/18/2023 12/19/2023 $0.0090 $0.0311 $0.0401 $10.19

Fees & Expenses

Fees & Expenses

Expense Ratio

Fund Gross Expense Ratio Fund Net Expense Ratio
4.10% 0.25%

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

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