Special Situations Income Fund | Lord Abbett

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Special Situations Income Fund

Summary

Summary

What is the Special Situations Income Fund?

The fund seeks to deliver high current income and potential total return over a full market cycle by investing in stressed corporate debt and complex business structures with a focus on downside mitigation.

A LEADER IN CREDIT

Managed by an experienced team with deep credit research capabilities and over five decades of leveraged credit investing.

A FOCUS ON A MARGIN OF SAFETY

Seeks to identify mispriced assets with a positive catalyst, with a focus on obligations that are secured, senior in the capital structure, or those we believe are well covered by underlying asset values.

INTERVAL FUND STRUCTURE

Provides flexibility in seeking to take advantage of high conviction opportunities and market inefficiencies.

Yield

Average Yield to Maturity as of 02/29/2024

10.33%

30-Day Standardized Yield 1 as of 02/29/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 9.96% 8.66%

Fund Basicsas of 02/29/2024

Total Net Assets
$97.25 M
Inception Date
09/13/2021
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.73%
Fund Net Expense Ratio
0.25%
Number of Holdings
57
Minimum Initial Investment

Fund Expense Ratio :

Gross 1.73%

Net 0.25%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/13/2021
w/o sales charge 1.70% 14.41% - - - 5.28%
Lipper Category Avg. - - - - - -
CS Leveraged Loan Index 1.68% 11.37% - - - -

Fund Expense Ratio :

Gross 1.73%

Net 0.25%

Fund Expense Ratio :

Gross 1.73%

Net 0.25%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/13/2021
w/o sales charge 16.33% 16.33% - - - 4.89%
Lipper Category Avg. - - - - - -
CS Leveraged Loan Index 13.04% 13.04% - - - -

Fund Expense Ratio :

Gross 1.73%

Net 0.25%

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

Solomon-Todd_headshot

Todd Solomon
Portfolio Manager
28 Years of Industry Experience

Kang-Eric_headshot

Eric Kang
Partner, Portfolio Manager
25 Years of Industry Experience

Posner-Kearney_headshot

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

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

Performance

Performance

Average Yield to Maturity as of 02/29/2024

10.33%

30-Day Standardized Yield 1 as of 02/29/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 9.96% 8.66%

Fund Expense Ratio :

Gross 1.73%

Net 0.25%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/13/2021
w/o sales charge 1.70% 14.41% - - - 5.28%
Lipper Category Avg. - - - - - -
CS Leveraged Loan Index 1.68% 11.37% - - - -
w/ sales charge 1.70% 14.41% - - - 5.28%

Fund Expense Ratio :

Gross 1.73%

Net 0.25%

Fund Expense Ratio :

Gross 1.73%

Net 0.25%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/13/2021
w/o sales charge 16.33% 16.33% - - - 4.89%
Lipper Category Avg. - - - - - -
CS Leveraged Loan Index 13.04% 13.04% - - - -

Fund Expense Ratio :

Gross 1.73%

Net 0.25%

Year Fund Returns CS Leveraged Loan Index
2023 16.33% 13.04%
2022 -4.54% -1.06%
Year Q1 Q2 Q3 Q4
2024 - - - -
2023 3.94% 4.04% 3.12% 4.32%
2022 1.06% -5.55% -0.06% 0.06%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
Bank Loans
U.S. High Yield Corporate
Emerging Market
Non-U.S. High Yield Corporate
Cash
Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years

Credit Quality Distribution as of 02/29/2024

Rating Assets
BB
B
CCC
Not Rated

Portfolio Details as of 02/29/2024

Total Net Assets
$97.25 M
Average Effective Duration
1.21 Years
Average Life
3.28 Years
Average Maturity
4.03 Years
Number of Issues
57
Average Yield to Maturity
10.33%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 03/18/2024
$0.14625
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 02/29/2024 $0.07277 $9.25
Daily Daily 01/31/2024 $0.07347 $9.23

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 03/31/2024
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
07/27/2022 07/28/2022 $0.0048 - $0.0048 $9.18

Fees & Expenses

Fees & Expenses

Expense Ratio

Fund Gross Expense Ratio Fund Net Expense Ratio
1.73% 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
Commentary
Publish Date:11/03/2015
Repurchase Calendar
Publish Date:11/03/2015

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