Special Situations Income Fund
Daily price w/o sales charge as of 06/24/2022
$9.23
$0.00
YTD Returns w/o sales charge as of 06/24/2022
-4.03%
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.
Dividend Yield 1 as of 06/24/2022
Subsidized3 | Un-Subsidized4 | |
---|---|---|
w/o sales charge | 6.54% | 6.39% |
30-Day Standardized Yield 2 as of 05/31/2022
Subsidized3 | Un-Subsidized4 | |
---|---|---|
w/o sales charge | 6.79% | 6.67% |
Fund Basicsas of 05/31/2022
- Total Net Assets
- $57.41 M
- Inception Date
- 09/07/2021*
- Dividend Frequency
- Monthly
- Fund Gross Expense Ratio
- 1.65%
- Fund Net Expense Ratio
- 1.50%
- Number of Holdings
- 49
- Minimum Initial Investment
- $1,000,000+
Minimum Exceptions
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 1.65%
Net 1.50%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | -2.06% | - | - | - | - | -1.52% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | -2.44% | - | - | - | - | - |
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 1.50%
Fund Expense Ratio :
Gross 1.65%
Net 1.50%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | 1.06% | - | - | - | - | 1.61% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | -0.10% | - | - | - | - | - |
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 1.50%
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 06/24/2022
Subsidized3 | Un-Subsidized4 | |
---|---|---|
w/o sales charge | 6.54% | 6.39% |
30-Day Standardized Yield 2 as of 05/31/2022
Subsidized3 | Un-Subsidized4 | |
---|---|---|
w/o sales charge | 6.79% | 6.67% |
Fund Expense Ratio :
Gross 1.65%
Net 1.50%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | -2.06% | - | - | - | - | -1.52% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | -2.44% | - | - | - | - | - |
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 1.50%
Fund Expense Ratio :
Gross 1.65%
Net 1.50%
YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/13/2021 |
---|
w/o sales charge | 1.06% | - | - | - | - | 1.61% |
Lipper Category Avg. | - | - | - | - | - | - |
CS Leveraged Loan Index | -0.10% | - | - | - | - | - |
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 1.50%
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
Type | Assets |
---|---|
Bank Loans | |
U.S. High Yield Corporate | |
Non-U.S. High Yield Corporate | |
CLO | |
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 | |
Greater than 10 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 05/31/2022
Rating | Assets |
---|---|
BB | |
B | |
CCC | |
<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 05/31/2022
- Total Net Assets
- $57.41 M
- Number of Issues
- 49
- Average Coupon
- 7.36%
- Average Life
- 3.52 Years
- Average Maturity
- 3.88 Years
- Average Effective Duration
- 1.09 Years
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.
All Holdings as of04/29/2022
Holding | Coupon | Maturity | Assets |
---|
Granite US Holdings Corp | 11.000% | 10/01/2027 | 3.9% |
Doncasters US LLC | 8.500% | 03/06/2024 | 3.5% |
DIRECT CHASSISLINK INC | 7.739% | 04/10/2026 | 3.5% |
Engineered Machinery Holdings Inc | 7.506% | 05/21/2029 | 3.4% |
Chassix Inc | 6.500% | 11/15/2023 | 3.2% |
Welltec International ApS | 8.250% | 10/15/2026 | 3.2% |
Nabors Industries Inc | 9.000% | 02/01/2025 | 3.1% |
Miller's Ale House Inc | 5.418% | 05/30/2025 | 3.1% |
Travel Leaders Group LLC | 4.784% | 01/25/2024 | 3.0% |
Magenta Buyer LLC | 9.480% | 07/27/2029 | 3.0% |
Ferroglobe PLC / Globe Specialty Metals Inc | 9.375% | 12/31/2025 | 2.9% |
WP CPP Holdings LLC | 8.750% | 04/30/2026 | 2.8% |
BEP Ulterra Holdings Inc | 6.014% | 11/26/2025 | 2.7% |
Global Aircraft Leasing Co Ltd | 6.500% | 09/15/2024 | 2.7% |
Natural Resource Partners LP / NRP Finance Corp | 9.125% | 06/30/2025 | 2.6% |
Berry Petroleum Co LLC | 7.000% | 02/15/2026 | 2.5% |
CITGO Petroleum Corp | 7.014% | 03/28/2024 | 2.5% |
AP CORE HOLDINGS II LLC | 6.264% | 09/01/2027 | 2.5% |
VUE INTERNATIONAL BIDCO PLC | 4.750% | 07/03/2026 | 2.4% |
TANK HOLDING CORP | 6.842% | 03/31/2028 | 2.3% |
PIC AU Holdings LLC | 10.000% | 12/31/2024 | 2.3% |
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp | 7.500% | 05/01/2025 | 2.1% |
ECL ENTERTAINMENT LLC | 8.264% | 05/01/2028 | 2.1% |
Laredo Petroleum Inc | 7.750% | 07/31/2029 | 2.1% |
American Airlines Group Inc | 3.750% | 03/01/2025 | 2.0% |
Eco Material Technologies Inc | 7.875% | 01/31/2027 | 2.0% |
Party City Holdings Inc | 6.125% | 08/15/2023 | 2.0% |
Asurion LLC | 6.014% | 01/20/2029 | 2.0% |
National CineMedia LLC | 5.875% | 04/15/2028 | 1.9% |
Foundation Building Materials Inc | 6.000% | 03/01/2029 | 1.7% |
Optiv Security Inc | 8.250% | 02/01/2025 | 1.7% |
LBM Acquisition LLC | 6.250% | 01/15/2029 | 1.7% |
RIVERBED TECHNOLOGY INC | 2.000% | 12/08/2026 | 1.6% |
Martin Midstream Partners LP / Martin Midstream Finance Corp | 11.500% | 02/28/2025 | 1.6% |
Invesco Senior Loan ETF | 0.000% | - | 1.5% |
ALTAR BIDCO INC. | 6.100% | 02/01/2030 | 1.3% |
KUEHG Corp | 9.256% | 08/22/2025 | 0.5% |
USIC Holdings Inc | 7.264% | 05/14/2029 | 0.4% |
AMMC CLO 24 Ltd | 7.633% | 01/20/2035 | 0.4% |
AMC Entertainment Holdings Inc | 3.488% | 04/22/2026 | 0.2% |
US 2YR NOTE (CBT) Jun22 | 0.000% | 07/06/2022 | 0.1% |
US 5YR NOTE (CBT) Jun22 | 0.000% | 07/06/2022 | 0.1% |
FX USD/EUR 06/22 | 0.000% | 06/10/2022 | 0.1% |
FX EUR/USD 06/22 | 0.000% | 06/10/2022 | 0.0% |
FX EUR/USD 06/22 | 0.000% | 06/10/2022 | 0.0% |
Holding | Coupon | Maturity | Assets |
---|
Granite US Holdings Corp | 11.000% | 10/01/2027 | 3.9% |
Engineered Machinery Holdings Inc | 7.506% | 05/21/2029 | 3.5% |
DIRECT CHASSISLINK INC | 7.739% | 04/10/2026 | 3.4% |
Doncasters US LLC | 7.560% | 03/06/2024 | 3.4% |
Chassix Inc | 7.063% | 11/15/2023 | 3.2% |
Nabors Industries Inc | 9.000% | 02/01/2025 | 3.2% |
Welltec International ApS | 8.250% | 10/15/2026 | 3.2% |
Miller's Ale House Inc | 5.756% | 05/30/2025 | 3.1% |
Ferroglobe PLC / Globe Specialty Metals Inc | 9.375% | 12/31/2025 | 3.0% |
Travel Leaders Group LLC | 5.060% | 01/25/2024 | 3.0% |
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.
Dividends & Cap Gains
Dividends & Cap Gains
Dividend Payments
- YTD Dividends Paidas of 06/24/2022
- $0.261
- Dividend Frequency
- Monthly (Daily Accrual)
Record Date | Ex-Dividend Date | Reinvest & Payable Date | Dividend | Reinvest Price |
---|---|---|---|---|
Daily | Daily | 05/31/2022 | $0.05034 | $9.46 |
Daily | Daily | 04/30/2022 | $0.04680 | $9.73 |
Daily | Daily | 03/31/2022 | $0.05169 | $9.86 |
Daily | Daily | 02/28/2022 | $0.06301 | $9.88 |
Daily | Daily | 01/31/2022 | $0.04984 | $9.92 |
Upcoming Dividend Payment Dates
Record Date | Ex-Dividend Date | Reinvest & Payable Date |
---|---|---|
Daily | Daily | 06/30/2022 |
Daily | Daily | 07/31/2022 |
Daily | Daily | 08/31/2022 |
Daily | Daily | 09/30/2022 |
Daily | Daily | 10/31/2022 |
Daily | Daily | 11/30/2022 |
Daily | Daily | 12/31/2022 |
Fees & Expenses
Fees & Expenses
Expense Ratio
Fund Gross Expense Ratio | Fund Net Expense Ratio | |
---|---|---|
1.65% | 1.50% |
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 04/30/2023. 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
0Documents selected
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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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n/a |
Repurchase Calendar
Publish Date:11/03/2015
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