Floating Rate High Income Fund
Daily price w/o sales charge as of 09/27/2023
$10.19
$0.01
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
The Fund seeks a high level of current income.
Fund Basicsas of 08/31/2023
- Total Net Assets
- $10.73 M
- Total Managed Assets
- $13.98 M
- Inception Date
- 01/26/2023
- Dividend Frequency
- Monthly (Daily Accrual)
- 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 | - | - | - | - | - | 7.62% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | - | - | - | - | - | 7.64% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
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 | - | - | - | - | - | 4.44% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | - | - | - | - | - | 5.04% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 4.10%
Net 0.25%
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.
Portfolio
Portfolio
Type | Assets |
---|---|
Bank Loans | |
High Yield Bonds | |
ABS | |
Other | |
Cash |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
Rating | Assets |
---|---|
Less than 1 year | |
1-3 years | |
3-5 years | |
5-7 years |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distribution as of 08/31/2023
Rating | Assets |
---|---|
BB | |
B | |
<B | |
Not Rated |
Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. 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. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.
Portfolio Details as of 08/31/2023
- Total Net Assets
- $10.73 M
- Average Effective Duration
- 0.26 Years
- Average Life
- 4.33 Years
- Average Maturity
- 4.48 Years
- Number of Issues
- 198
- Average Yield to Maturity
- 9.15%
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.
All Holdings as of07/31/2023
Holding | Coupon | Maturity | Assets |
---|
TORONTO DOMINION BANK THE | 0.010% | 08/01/2023 | 3.1% |
TORONTO DOMINION BANK THE | 0.010% | 08/01/2023 | 1.2% |
Par Petroleum LLC | 9.614% | 02/28/2030 | 1.0% |
Air Canada | 8.839% | 08/11/2028 | 1.0% |
Life Time Inc | 10.050% | 01/15/2026 | 1.0% |
Castlelake Aviation One DAC | 8.004% | 10/22/2027 | 1.0% |
Imperva Inc | 0.000% | 01/11/2027 | 1.0% |
Magnite Inc | 10.235% | 04/28/2028 | 1.0% |
CNT Holdings I Corp | 12.050% | 11/06/2028 | 1.0% |
Packaging Coordinators Midco Inc | 9.004% | 11/30/2027 | 1.0% |
BEP Ulterra Holdings Inc | 10.669% | 11/26/2025 | 1.0% |
MB Aerospace Holdings II Corp | 0.000% | 01/22/2025 | 1.0% |
Jane Street Group LLC | 8.183% | 01/26/2028 | 1.0% |
Phoenix Newco Inc | 8.555% | 11/15/2028 | 1.0% |
EFS Cogen Holdings I LLC | 9.010% | 10/01/2027 | 1.0% |
VFH Parent LLC | 8.405% | 01/13/2029 | 1.0% |
Boxer Parent Co Inc | 10.805% | 02/27/2026 | 1.0% |
Flynn Restaurant Group LP | 9.683% | 12/01/2028 | 1.0% |
Minotaur Acquisition Inc | 10.069% | 03/27/2026 | 1.0% |
RealPage Inc | 8.433% | 04/24/2028 | 1.0% |
ABG Intermediate Holdings 2 LLC | 11.060% | 12/20/2029 | 1.0% |
Global Aircraft Leasing Co Ltd | 6.500% | 09/15/2024 | 1.0% |
eResearchTechnology Inc | 9.933% | 02/04/2027 | 1.0% |
Northwest Fiber LLC | 9.156% | 04/30/2027 | 0.9% |
United Airlines Inc | 9.292% | 04/21/2028 | 0.8% |
Heartland Dental LLC | 10.222% | 04/28/2028 | 0.8% |
Proofpoint Inc | 11.683% | 08/31/2029 | 0.8% |
Titan Acquisition Ltd/Canada | 8.731% | 03/28/2025 | 0.8% |
Summit Behavioral Healthcare LLC | 10.237% | 11/24/2028 | 0.8% |
AI Aqua Merger Sub Inc | 8.557% | 07/31/2028 | 0.7% |
CERAMTEC ACQUICO GMBH | 7.233% | 03/16/2029 | 0.7% |
Altar Bidco Inc | 7.993% | 02/01/2029 | 0.7% |
CVENT INC | 9.004% | 06/17/2030 | 0.7% |
Verscend Holding Corp | 9.433% | 08/27/2025 | 0.7% |
Spring Education Group Inc | 9.538% | 07/30/2025 | 0.7% |
Renaissance Holdings Corp | 12.419% | 05/29/2026 | 0.7% |
Fertitta Entertainment LLC/NV | 9.319% | 01/27/2029 | 0.7% |
Charter Next Generation Inc | 9.183% | 12/01/2027 | 0.7% |
Altice France SA/France | 2.500% | 01/15/2025 | 0.7% |
Southern Veterinary Partners LLC | 9.433% | 10/05/2027 | 0.7% |
LSF12 BADGER BIDCO LLC | 0.000% | 07/25/2030 | 0.7% |
Chariot Buyer LLC | 8.669% | 11/03/2028 | 0.7% |
Ingenovis Health Inc | 9.183% | 03/06/2028 | 0.7% |
Oryx Midstream Services Permian Basin LLC | 8.505% | 10/05/2028 | 0.7% |
Cloudera Inc | 9.055% | 10/08/2028 | 0.7% |
Cornerstone Building Brands Inc | 8.572% | 04/12/2028 | 0.7% |
Cloud Software Group Inc | 9.739% | 03/30/2029 | 0.7% |
Scientific Games Holdings LP | 8.768% | 04/04/2029 | 0.7% |
CAL Receivables 2022-1 LLC | 9.418% | 10/15/2026 | 0.7% |
New Era Cap LLC | 11.336% | 07/13/2027 | 0.7% |
888 ACQUISITIONS LIMITED | 10.115% | 07/01/2028 | 0.7% |
ACProducts Holdings Inc | 9.754% | 05/17/2028 | 0.6% |
Dynasty Acquisition Co Inc | 8.919% | 04/06/2026 | 0.6% |
AMER SPORTS OYJ | 7.648% | 03/30/2026 | 0.6% |
LSF11 Trinity Bidco Inc | 9.722% | 06/14/2030 | 0.6% |
Legence Holdings LLC | 9.169% | 12/16/2027 | 0.6% |
Amynta Agency Borrower Inc | 10.419% | 02/28/2028 | 0.6% |
Directv Financing LLC | 10.433% | 08/02/2027 | 0.6% |
McAfee Corp | 8.963% | 03/01/2029 | 0.6% |
Asurion LLC | 0.000% | 01/20/2029 | 0.6% |
LBM Acquisition LLC | 9.169% | 12/17/2027 | 0.6% |
Ascensus Holdings Inc | 8.933% | 08/02/2028 | 0.6% |
PARKWAY GENERATION LLC | 10.275% | 02/18/2029 | 0.6% |
Advisor Group Holdings Inc | 10.750% | 08/01/2027 | 0.5% |
Chobani LLC / Chobani Finance Corp Inc | 7.500% | 04/15/2025 | 0.5% |
MOTION FINCO SARL | 7.598% | 11/12/2029 | 0.5% |
EquipmentShare.com Inc | 9.000% | 05/15/2028 | 0.5% |
Kenan Advantage Group Inc/The | 9.477% | 03/24/2026 | 0.5% |
Hunter US Bidco Inc | 9.592% | 08/19/2028 | 0.5% |
ROPER IND PRODUCTS INV COM LLC | 9.742% | 11/22/2029 | 0.5% |
KUEHG CORP | 10.242% | 06/12/2030 | 0.5% |
Central Parent Inc | 9.492% | 07/06/2029 | 0.5% |
BCPE Empire Holdings Inc | 10.069% | 12/11/2028 | 0.5% |
Crescent Energy Finance LLC | 7.250% | 05/01/2026 | 0.5% |
Univision Communications Inc | 9.492% | 06/24/2029 | 0.5% |
Sunshine Luxembourg VII Sarl | 9.092% | 10/01/2026 | 0.5% |
Triumph Group Inc | 7.750% | 08/15/2025 | 0.5% |
JONES DSLRRS INSRNC MNGNT INC | 0.000% | 07/28/2030 | 0.5% |
Nouryon USA LLC | 9.347% | 04/03/2028 | 0.5% |
Bleriot US Bidco Inc | 9.504% | 10/31/2026 | 0.5% |
Engineered Machinery Holdings Inc | 9.038% | 05/19/2028 | 0.5% |
Jazz Acquisition Inc | 9.419% | 06/19/2026 | 0.5% |
Cinemark USA Inc | 8.992% | 05/24/2030 | 0.5% |
Sophia LP | 9.038% | 10/07/2027 | 0.5% |
Autokiniton US Holdings Inc | 9.933% | 04/06/2028 | 0.5% |
Cyanco Intermediate 2 Corp | 0.000% | 07/10/2028 | 0.5% |
LSF11 A5 HoldCo LLC | 9.669% | 10/15/2028 | 0.5% |
Vertex Aerospace Services Corp | 9.055% | 12/06/2028 | 0.5% |
Surf Holdings LLC | 8.779% | 03/05/2027 | 0.5% |
Open Text Corp | 8.919% | 01/31/2030 | 0.5% |
Pro Mach Group Inc | 9.433% | 08/31/2028 | 0.5% |
Waystar Technologies Inc | 9.433% | 10/22/2026 | 0.5% |
Mavis Tire Express Services Topco Corp | 9.433% | 05/04/2028 | 0.5% |
OneDigital Borrower LLC | 9.669% | 11/16/2027 | 0.5% |
LABL Inc | 0.000% | 10/29/2028 | 0.5% |
PetSmart LLC | 9.169% | 02/11/2028 | 0.5% |
Fastlane Parent Co Inc | 9.933% | 02/04/2026 | 0.5% |
Playtika Holding Corp | 8.183% | 03/13/2028 | 0.5% |
Project Boost Purchaser LLC | 8.933% | 06/01/2026 | 0.5% |
Acrisure LLC | 9.683% | 02/15/2027 | 0.5% |
SPX FLOW INC. | 9.919% | 04/05/2029 | 0.5% |
QUARTZ ACQUIRECO LLC | 8.817% | 06/28/2030 | 0.5% |
Service Logic Acquisition Inc | 9.433% | 10/29/2027 | 0.5% |
AssuredPartners Inc | 8.933% | 02/12/2027 | 0.5% |
Clydesdale Acquisition Holdings Inc | 9.594% | 04/13/2029 | 0.5% |
LifePoint Health Inc | 9.116% | 11/16/2025 | 0.5% |
Peraton Corp | 9.169% | 02/01/2028 | 0.5% |
MJH HEALTHCARE HOLDINGS LLC | 8.919% | 01/28/2029 | 0.5% |
Freeport LNG Investments LLLP | 9.088% | 12/21/2028 | 0.5% |
Weld North Education LLC | 9.183% | 12/21/2027 | 0.5% |
Berry Petroleum Co LLC | 7.000% | 02/15/2026 | 0.5% |
SRS Distribution Inc | 8.933% | 06/02/2028 | 0.5% |
SPECTACLE GARY HOLDINGS LLC | 9.769% | 12/10/2028 | 0.5% |
Apttus Corp | 9.433% | 05/08/2028 | 0.5% |
Carriage Purchaser Inc | 9.683% | 09/30/2028 | 0.5% |
Tiger Acquisition LLC | 8.555% | 06/01/2028 | 0.5% |
Edelman Financial Engines Center LLC/The | 12.183% | 07/20/2026 | 0.5% |
Hudson River Trading LLC | 8.631% | 03/20/2028 | 0.5% |
Peraton Corp | 12.979% | 02/01/2029 | 0.5% |
ConnectWise LLC | 8.933% | 09/29/2028 | 0.5% |
BRAND INDUSTRIAL SERVICES INC | 0.000% | 07/25/2030 | 0.5% |
Dexko Global Inc | 9.254% | 10/04/2028 | 0.5% |
Reverb Buyer Inc | 8.614% | 11/01/2028 | 0.5% |
Clarios Global LP | 9.069% | 05/06/2030 | 0.5% |
AP Core Holdings II LLC | 10.933% | 09/01/2027 | 0.5% |
Petco Health & Wellness Co Inc | 8.754% | 03/03/2028 | 0.5% |
Amentum Government Services Holdings LLC | 9.222% | 02/15/2029 | 0.5% |
Nexus Buyer LLC | 9.169% | 11/09/2026 | 0.5% |
OPTIV SECURITY INC | 10.338% | 08/01/2026 | 0.5% |
Hunter Douglas Inc | 8.666% | 02/26/2029 | 0.5% |
Tank Holding Corp | 11.169% | 03/31/2028 | 0.5% |
MH Sub I LLC | 9.555% | 05/03/2028 | 0.5% |
Compass Power Generation LLC | 9.683% | 04/14/2029 | 0.5% |
CHINOS INTERMEDIATE HLDGS A IN | 13.631% | 09/10/2027 | 0.5% |
ADMI Corp | 8.433% | 04/30/2025 | 0.5% |
Birkenstock US BidCo Inc | 7.690% | 04/28/2028 | 0.5% |
Chart Industries Inc | 9.105% | 03/15/2030 | 0.5% |
DTI Holdco Inc | 10.119% | 04/26/2029 | 0.5% |
SILK BIDCO AS | 9.697% | 02/28/2027 | 0.5% |
Mitchell International Inc | 9.183% | 10/15/2028 | 0.5% |
Vibrantz Technologies Inc | 9.699% | 04/23/2029 | 0.5% |
Engineered Machinery Holdings Inc | 11.538% | 05/21/2029 | 0.5% |
Nexus Buyer LLC | 11.669% | 11/05/2029 | 0.5% |
Red Planet Borrower LLC | 9.169% | 10/02/2028 | 0.4% |
VistaJet Malta Finance PLC / Vista Management Holding Inc | 9.500% | 06/01/2028 | 0.4% |
Icebox Holdco III Inc | 12.254% | 12/21/2029 | 0.4% |
Curia Global Inc | 9.101% | 08/30/2026 | 0.4% |
AthenaHealth Group Inc | 8.805% | 02/15/2029 | 0.4% |
FinThrive Software Intermediate Holdings Inc | 9.433% | 12/18/2028 | 0.4% |
Evergreen Acqco 1 LP | 10.754% | 04/26/2028 | 0.4% |
Sunset Debt Merger Sub Inc | 9.433% | 10/06/2028 | 0.4% |
JetBlue Airways Corp | 0.500% | 04/01/2026 | 0.4% |
Physician Partners LLC | 9.392% | 12/23/2028 | 0.4% |
United PF Holdings LLC | 9.631% | 12/30/2026 | 0.4% |
BINGO INDUSTRIES LTD | 9.004% | 07/14/2028 | 0.4% |
Cubic Corp | 9.775% | 05/25/2028 | 0.4% |
HUB International Ltd | 9.584% | 06/20/2030 | 0.4% |
Standard Aero Ltd | 8.919% | 04/06/2026 | 0.3% |
GPS Hospitality Holding Co LLC / GPS Finco Inc | 7.000% | 08/15/2028 | 0.3% |
Boxer Parent Co Inc | 9.183% | 10/02/2025 | 0.3% |
Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC | 10.931% | 10/15/2026 | 0.3% |
Brazos Delaware II LLC | 8.944% | 02/11/2030 | 0.3% |
ARSENAL AIC PARENT LLC | 0.000% | 07/26/2030 | 0.3% |
SRS Distribution Inc | 8.919% | 06/02/2028 | 0.2% |
Crescent Energy Finance LLC | 9.250% | 02/15/2028 | 0.2% |
Tank Holding Corp | 11.391% | 03/31/2028 | 0.2% |
Genesys Cloud Services Holdings II LLC | 9.433% | 12/01/2027 | 0.2% |
Frontier Communications Holdings LLC | 9.183% | 05/01/2028 | 0.1% |
KENAN ADVANTAGE GROUP INC | 9.727% | 03/24/2026 | 0.1% |
Cubic Corp | 9.775% | 05/25/2028 | 0.1% |
PARKWAY GENERATION LLC | 10.275% | 02/18/2029 | 0.1% |
CP Atlas Buyer Inc | 0.000% | 11/23/2027 | 0.1% |
MOTION FINCO SARL | 8.788% | 11/12/2026 | 0.0% |
MOTION FINCO SARL | 0.088% | 11/12/2026 | 0.0% |
Tank Holding Corp | 0.010% | 03/31/2028 | 0.0% |
Interest Rate Swap | 0.053% | 09/15/2024 | 0.0% |
Interest Rate Swap | 0.040% | 02/15/2028 | 0.0% |
Interest Rate Swap | 0.048% | 08/15/2025 | 0.0% |
Interest Rate Swap | 0.046% | 02/15/2026 | 0.0% |
Interest Rate Swap | 0.045% | 05/01/2026 | 0.0% |
Interest Rate Swap | 0.041% | 08/01/2027 | 0.0% |
Interest Rate Swap | 0.040% | 06/01/2028 | 0.0% |
Interest Rate Swap | 0.040% | 05/15/2028 | 0.0% |
FX EUR/USD 09/23 | 0.000% | 09/13/2023 | 0.0% |
AthenaHealth Group Inc | 0.035% | 02/15/2029 | 0.0% |
FX USD/EUR 09/23 | 0.000% | 09/13/2023 | 0.0% |
FX USD/EUR 09/23 | 0.000% | 09/13/2023 | 0.0% |
Holding | Coupon | Maturity | Assets |
---|
ECL Entertainment LLC | 0.000% | 08/16/2030 | 1.1% |
CNT Holdings I Corp | 12.050% | 11/06/2028 | 1.0% |
Life Time Inc | 10.611% | 01/15/2026 | 1.0% |
Imperva Inc | 13.395% | 01/11/2027 | 1.0% |
Packaging Coordinators Midco Inc | 9.004% | 11/30/2027 | 1.0% |
Air Canada | 9.128% | 08/11/2028 | 1.0% |
Par Petroleum LLC | 9.773% | 02/28/2030 | 1.0% |
Heartland Dental LLC | 10.314% | 04/28/2028 | 1.0% |
Finastra USA Inc | 0.000% | 06/13/2025 | 1.0% |
MB Aerospace Holdings II Corp | 0.000% | 01/22/2025 | 1.0% |
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.
Performance
Performance
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 | - | - | - | - | - | 7.62% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | - | - | - | - | - | 7.64% |
w/ sales charge | - | - | - | - | - | 7.62% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
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 | - | - | - | - | - | 4.44% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | - | - | - | - | - | 5.04% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 4.10%
Net 0.25%
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 |
---|
Fees & Expenses
Fees & Expenses
Expense Ratio
Fund Gross Expense Ratio | Fund Net Expense Ratio | |
---|---|---|
4.10% | 0.25% |
Expense ratio details, Click here.
The Fund's net expense ratio takes into account deductions for interest expenses and other related expenses from certain of the Fund's investments, as applicable. The net expense ratio is based on estimates for the current fiscal year (other than certain other expenses that are based on estimated net assets) and takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 04/30/2024. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.
Fund Documents
Fund Documents
0Documents selected
|
||||
---|---|---|---|---|
Portfolio Holdings 1Q
Publish Date:11/03/2015
|
||||
Statutory Prospectus
Publish Date:11/03/2015
|
||||
SAI
Publish Date:11/03/2015
|
||||
Semi-Annual Report
Publish Date:11/03/2015
|
||||
Repurchase Calendar
Publish Date:11/03/2015
|
Section 16 filings available HERE.