Special Situations Income Fund
Daily price w/o sales charge as of 03/23/2023
$8.89
$0.01
YTD Returns w/o sales charge as of 03/23/2023
3.20%
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
The Fund seeks to deliver high long-term total returns by investing in potentially mispriced opportunities created by market dislocations and other special situations.
Yield
Dividend Yield 1 as of 03/23/2023
Subsidized3 | Un-Subsidized4 | |
---|---|---|
w/o sales charge | 10.64% | 9.24% |
Subsidized3 | Un-Subsidized4 | |
---|---|---|
w/o sales charge | 10.32% | 8.86% |
Average Yield to Worst as of 02/28/2023 |
11.47% |
Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.
Fund Basicsas of 02/28/2023
- Total Net Assets
- $54.54 M
- Inception Date
- 09/13/2021
- Dividend Frequency
- Monthly
- Fund Gross Expense Ratio
- 1.65%
- Fund Net Expense Ratio
- 0.25%
- Number of Holdings
- 63
- Minimum Initial Investment
-
Fund Expense Ratio :
Gross 1.65%
Net 0.25%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | 3.41% | -2.01% | - | - | - | -0.51% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | 3.21% | 2.26% | - | - | - | - |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 1.65%
Net 0.25%
Fund Expense Ratio :
Gross 1.65%
Net 0.25%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | -4.54% | -4.54% | - | - | - | -3.09% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | -1.06% | -1.06% | - | - | - | - |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 1.65%
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.
Performance
Performance
Dividend Yield 1 as of 03/23/2023
Subsidized3 | Un-Subsidized4 | |
---|---|---|
w/o sales charge | 10.64% | 9.24% |
30-Day Standardized Yield 2 as of 02/28/2023
Subsidized3 | Un-Subsidized4 | |
---|---|---|
w/o sales charge | 10.32% | 8.86% |
Fund Expense Ratio :
Gross 1.65%
Net 0.25%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | 3.41% | -2.01% | - | - | - | -0.51% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | 3.21% | 2.26% | - | - | - | - |
w/ sales charge | 3.41% | -2.01% | - | - | - | -0.51% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 1.65%
Net 0.25%
Fund Expense Ratio :
Gross 1.65%
Net 0.25%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | -4.54% | -4.54% | - | - | - | -3.09% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | -1.06% | -1.06% | - | - | - | - |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 1.65%
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.
Year | Fund Returns | CS Leveraged Loan Index |
---|
2022 | -4.54% | -1.06% |
2021 | 0.55% | 5.40% |
Year | Q1 | Q2 | Q3 | Q4 | Yearly Returns |
---|
2023 | - | - | - | - | 3.20% |
2022 | 1.06% | -5.55% | -0.06% | 0.06% | -4.54% |
2021 | - | - | - | 0.36% | 0.55% |
Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.
NAV Historical Prices
Date | Net Asset Value |
---|
Portfolio
Portfolio
Type | Assets |
---|---|
U.S. High Yield Corporate | |
Bank Loans | |
Non-U.S. High Yield Corporate | |
Emerging Market | |
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 | |
1-2.99 years | |
3-4.99 years | |
5-6.99 years | |
7-9.99 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 02/28/2023
Rating | Assets |
---|---|
BB | |
B | |
CCC | |
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 02/28/2023
- Total Net Assets
- $54.54 M
- Number of Issues
- 63
- Average Coupon
- 8.59%
- Average Life
- 3.81 Years
- Average Maturity
- 4.34 Years
- Average Effective Duration
- 1.75 Years
- Average Yield to Worst
- 11.47%
To view definitions for the above Portfolio Details, Click here.
Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.
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.
Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.
All Holdings as of01/31/2023
Holding | Coupon | Maturity | Assets |
---|
United States Treasury Bill | 0.000% | 02/21/2023 | 5.4% |
Granite US Holdings Corp | 11.000% | 10/01/2027 | 5.3% |
Full House Resorts Inc | 8.250% | 02/15/2028 | 4.1% |
Doncasters US LLC | 11.325% | 03/06/2024 | 4.0% |
Miller's Ale House Inc | 9.330% | 05/30/2025 | 3.4% |
Engineered Machinery Holdings Inc | 11.230% | 05/21/2029 | 3.4% |
Chassix Inc | 12.000% | 11/15/2023 | 3.4% |
Welltec International ApS | 8.250% | 10/15/2026 | 3.3% |
Ferroglobe PLC / Globe Specialty Metals Inc | 9.375% | 12/31/2025 | 3.1% |
BEP Ulterra Holdings Inc | 9.820% | 11/26/2025 | 3.1% |
SPECTACLE GARY HOLDINGS LLC | 8.797% | 11/19/2028 | 3.0% |
ECL ENTERTAINMENT LLC | 12.061% | 05/01/2028 | 2.9% |
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp | 7.500% | 05/01/2025 | 2.9% |
Griffon Corp | 5.750% | 03/01/2028 | 2.5% |
Tank Holding Corp | 10.411% | 03/31/2028 | 2.4% |
Global Aircraft Leasing Co Ltd | 6.500% | 09/15/2024 | 2.4% |
Berry Petroleum Co LLC | 7.000% | 02/15/2026 | 2.3% |
Eco Material Technologies Inc | 7.875% | 01/31/2027 | 2.1% |
SPX FLOW Inc | 8.750% | 04/01/2030 | 2.0% |
W&T Offshore Inc | 9.750% | 11/01/2023 | 2.0% |
Nine Energy Service Inc | 13.000% | 02/01/2028 | 2.0% |
Crescent Energy Finance LLC | 7.250% | 05/01/2026 | 2.0% |
Vital Energy Inc | 7.750% | 07/31/2029 | 2.0% |
CEC Entertainment LLC | 6.750% | 05/01/2026 | 2.0% |
Par Petroleum LLC | 0.000% | 01/12/2026 | 1.9% |
Nine Energy Service Inc | 8.750% | 11/01/2023 | 1.9% |
Foundation Building Materials Inc | 6.000% | 03/01/2029 | 1.8% |
VistaJet Malta Finance PLC / XO Management Holding Inc | 6.375% | 02/01/2030 | 1.8% |
VUE INTERNATIONAL BIDCO PLC | 0.000% | 07/03/2026 | 1.7% |
Martin Midstream Partners LP / Martin Midstream Finance Corp | 11.500% | 02/28/2025 | 1.7% |
Sabre GLBL Inc | 7.375% | 09/01/2025 | 1.7% |
LBM Acquisition LLC | 6.250% | 01/15/2029 | 1.7% |
Madison IAQ LLC | 5.875% | 06/30/2029 | 1.6% |
Tap Rock Resources LLC | 7.000% | 10/01/2026 | 1.5% |
CONSOL Energy Inc | 11.000% | 11/15/2025 | 1.5% |
W&T Offshore Inc | 11.750% | 02/01/2026 | 1.5% |
Nabors Industries Ltd | 7.250% | 01/15/2026 | 1.4% |
Precision Drilling Corp | 6.875% | 01/15/2029 | 1.3% |
Petroleos Mexicanos | 6.840% | 01/23/2030 | 1.2% |
Coronado Finance Pty Ltd | 10.750% | 05/15/2026 | 1.2% |
ACProducts Holdings Inc | 8.980% | 05/17/2028 | 1.0% |
NEXUS BUYER LLC | 10.820% | 11/05/2029 | 1.0% |
Oscar AcquisitionCo LLC / Oscar Finance Inc | 9.500% | 04/15/2030 | 1.0% |
CONSOL Energy Inc | 9.161% | 09/27/2024 | 1.0% |
GPS Hospitality Holding Co LLC / GPS Finco Inc | 7.000% | 08/15/2028 | 0.8% |
Carrols Restaurant Group Inc | 5.875% | 07/01/2029 | 0.7% |
BCP V Modular Services Finance PLC | 6.750% | 11/30/2029 | 0.7% |
AMC Entertainment Holdings Inc | 12.000% | 06/15/2026 | 0.6% |
VUE INTERNATIONAL BIDCO P L C | 9.766% | 06/30/2027 | 0.4% |
Crescent Energy Finance LLC | 9.250% | 02/15/2028 | 0.3% |
Total Return Swap | 4.313% | 03/20/2023 | 0.1% |
Logan Group Co Ltd | 4.500% | 01/13/2028 | 0.1% |
Sunac China Holdings Ltd | 6.500% | 01/10/2025 | 0.1% |
Shimao Group Holdings Ltd | 5.200% | 01/16/2027 | 0.1% |
Kaisa Group Holdings Ltd | 11.950% | 11/12/2023 | 0.1% |
Total Return Swap | 4.313% | 03/20/2023 | 0.0% |
Total Return Swap | 4.313% | 03/20/2023 | 0.0% |
FX EUR/USD 03/23 | 0.000% | 03/13/2023 | 0.0% |
FX EUR/USD 03/23 | 0.000% | 03/13/2023 | 0.0% |
FX USD/EUR 03/23 | 0.000% | 03/13/2023 | 0.0% |
FX USD/EUR 03/23 | 0.000% | 03/13/2023 | -0.1% |
Holding | Coupon | Maturity | Assets |
---|
Granite US Holdings Corp | 11.000% | 10/01/2027 | 5.6% |
Doncasters US LLC | 11.325% | 03/06/2024 | 4.4% |
Full House Resorts Inc | 8.250% | 02/15/2028 | 4.3% |
Engineered Machinery Holdings Inc | 11.230% | 05/21/2029 | 3.7% |
Chassix Inc | 12.250% | 11/15/2023 | 3.6% |
BEP Ulterra Holdings Inc | 9.885% | 11/26/2025 | 3.6% |
Miller's Ale House Inc | 9.330% | 05/30/2025 | 3.6% |
Coronado Finance Pty Ltd | 10.750% | 05/15/2026 | 3.3% |
Ferroglobe PLC / Globe Specialty Metals Inc | 9.375% | 12/31/2025 | 3.3% |
CEC Entertainment LLC | 6.750% | 05/01/2026 | 3.2% |
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
- YTD Dividends Paidas of 03/23/2023
- $0.150
- Dividend Frequency
- Monthly (Daily Accrual)
Record Date | Ex-Dividend Date | Reinvest & Payable Date | Dividend | Reinvest Price |
---|---|---|---|---|
Daily | Daily | 02/28/2023 | $0.07883 | $8.96 |
Daily | Daily | 01/31/2023 | $0.07120 | $9.01 |
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
Record Date | Reinvest & Payable Date | Long-term | Short-term * | Total | Reinvest Price |
---|---|---|---|---|---|
07/27/2022 | 07/28/2022 | $0.0048 | - | $0.0048 | $9.18 |
Taxed as ordinary income
Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor.
Fees & Expenses
Fees & Expenses
Expense Ratio
Fund Gross Expense Ratio | Fund Net Expense Ratio | |
---|---|---|
1.65% | 0.25% |
Expense ratio details, Click here.
The net expense ratio 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
Download fund documents & literature, create email subscriptions, and place direct mail order
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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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SAI
Publish Date:11/03/2015
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Annual Report
Publish Date:11/03/2015
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Semi-Annual Report
Publish Date:11/03/2015
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Fact Sheet
Publish Date:11/03/2015
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Repurchase Calendar
Publish Date:11/03/2015
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