Special Situations Income Fund
Daily price w/o sales charge as of 03/18/2024
$9.33
$0.01
YTD Returns w/o sales charge as of 03/18/2024
3.06%
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
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.
Yield
Average Yield to Maturity as of 02/29/2024 |
10.33% |
Subsidized2 | Un-Subsidized3 | |
---|---|---|
w/o sales charge | 9.96% | 8.66% |
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.
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% | - | - | - | - |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
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% | - | - | - | - |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 1.73%
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
Average Yield to Maturity as of 02/29/2024
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% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
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% | - | - | - | - |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 1.73%
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 |
---|
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% |
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 |
---|---|
Bank Loans | |
U.S. High Yield Corporate | |
Emerging Market | |
Non-U.S. High Yield Corporate | |
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 02/29/2024
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 02/29/2024
- 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%
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 of01/31/2024
Holding | Coupon | Maturity | Assets |
---|
BARCLAYS CAPITAL | 0.010% | 02/01/2024 | 6.6% |
EPIC Y-Grade Services LP | 11.371% | 06/30/2027 | 3.3% |
WaterBridge Midstream Operating LLC | 11.336% | 06/22/2026 | 3.2% |
Full House Resorts Inc | 8.250% | 02/15/2028 | 3.2% |
Minotaur Acquisition Inc | 10.183% | 03/27/2026 | 3.2% |
Park-Ohio Industries Inc | 6.625% | 04/15/2027 | 3.2% |
Engineered Machinery Holdings Inc | 12.110% | 05/21/2029 | 3.1% |
LSF12 BADGER BIDCO LLC | 11.333% | 08/30/2030 | 3.0% |
HRNI Holdings LLC | 9.748% | 12/11/2028 | 3.0% |
Doncasters US LLC | 12.072% | 12/06/2024 | 2.6% |
CEC Entertainment LLC | 6.750% | 05/01/2026 | 2.5% |
EPIC Crude Services LP | 10.380% | 03/02/2026 | 2.4% |
DCG Acquisition Corp | 9.933% | 09/30/2026 | 2.4% |
ECL Entertainment LLC | 10.083% | 08/31/2030 | 2.4% |
NCL Corp Ltd | 3.625% | 12/15/2024 | 2.3% |
CP Atlas Buyer Inc | 9.183% | 11/23/2027 | 2.2% |
Carrols Restaurant Group Inc | 8.683% | 04/30/2026 | 2.2% |
Eco Material Technologies Inc | 7.875% | 01/31/2027 | 2.1% |
Life Time Inc | 9.824% | 01/15/2026 | 2.1% |
Global Aircraft Leasing Co Ltd | 6.500% | 09/15/2024 | 2.0% |
White Cap Parent LLC | 8.250% | 03/15/2026 | 2.0% |
LBM Acquisition LLC | 6.250% | 01/15/2029 | 1.9% |
ACProducts Holdings Inc | 9.860% | 05/17/2028 | 1.9% |
Coronado Finance Pty Ltd | 10.750% | 05/15/2026 | 1.9% |
WASH Multifamily Acquisition Inc | 5.750% | 04/15/2026 | 1.9% |
Cornerstone Building Brands Inc | 10.958% | 08/01/2028 | 1.9% |
EquipmentShare.com Inc | 9.000% | 05/15/2028 | 1.9% |
Tank Holding Corp | 11.183% | 03/31/2028 | 1.8% |
Nabors Industries Ltd | 7.500% | 01/15/2028 | 1.7% |
GPS Hospitality Holding Co LLC / GPS Finco Inc | 7.000% | 08/15/2028 | 1.7% |
Transocean Inc | 7.500% | 04/15/2031 | 1.7% |
Foundation Building Materials Inc | 6.000% | 03/01/2029 | 1.7% |
Nine Energy Service Inc | 13.000% | 02/01/2028 | 1.7% |
JW Aluminum Continuous Cast Co | 10.250% | 06/01/2026 | 1.7% |
Madison IAQ LLC | 5.875% | 06/30/2029 | 1.6% |
Par Petroleum LLC | 9.738% | 02/28/2030 | 1.5% |
Osaic Holdings Inc | 9.833% | 08/17/2028 | 1.5% |
Mauser Packaging Solutions Holding Co | 9.250% | 04/15/2027 | 1.5% |
AMC Entertainment Holdings Inc | 10.000% | 06/15/2026 | 1.4% |
FOGO DE CHAO INC | 10.083% | 09/30/2030 | 1.4% |
Vital Energy Inc | 7.750% | 07/31/2029 | 1.4% |
SPX FLOW Inc | 8.750% | 04/01/2030 | 1.4% |
Sizzling Platter LLC / Sizzling Platter Finance Corp | 8.500% | 11/28/2025 | 1.4% |
Azul Secured Finance LLP | 11.930% | 08/28/2028 | 1.1% |
W&T Offshore Inc | 11.750% | 02/01/2026 | 1.1% |
Aretec Group Inc | 7.500% | 04/01/2029 | 1.1% |
KLX Energy Services Holdings Inc | 11.500% | 11/01/2025 | 1.0% |
Star Parent Inc | 9.348% | 09/27/2030 | 0.9% |
CPM Holdings Inc | 9.853% | 09/28/2028 | 0.7% |
Maxim Crane Works Holdings Capital LLC | 11.500% | 09/01/2028 | 0.6% |
Tank Holding Corp | 11.437% | 03/31/2028 | 0.6% |
Alloy Finco Ltd | 0.500% | 03/06/2025 | 0.4% |
Talos Production Inc | 9.000% | 02/01/2029 | 0.3% |
Total Return Swap | 5.344% | 03/20/2024 | 0.2% |
Tank Holding Corp | 0.010% | 03/31/2028 | 0.1% |
FX USD/EUR 02/24 | 0.000% | 02/28/2024 | 0.0% |
Total Return Swap | 5.344% | 09/20/2024 | 0.0% |
FX EUR/USD 02/24 | 0.000% | 02/28/2024 | 0.0% |
FX EUR/USD 02/24 | 0.000% | 02/28/2024 | 0.0% |
Holding | Coupon | Maturity | Assets |
---|
Doncasters US LLC | 12.072% | 12/06/2024 | 4.9% |
EPIC Y-Grade Services LP | 11.426% | 06/30/2027 | 4.4% |
WaterBridge Midstream Operating LLC | 11.336% | 06/22/2026 | 3.9% |
EPIC Crude Services LP | 10.324% | 03/02/2026 | 3.4% |
LSF12 BADGER BIDCO LLC | 11.321% | 08/30/2030 | 3.4% |
Park-Ohio Industries Inc | 6.625% | 04/15/2027 | 3.3% |
Minotaur Acquisition Inc | 10.176% | 03/27/2026 | 3.3% |
Engineered Machinery Holdings Inc | 12.110% | 05/21/2029 | 3.2% |
Full House Resorts Inc | 8.250% | 02/15/2028 | 3.1% |
HRNI Holdings LLC | 9.748% | 12/11/2028 | 3.1% |
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 03/18/2024
- $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
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 | |
---|---|---|
1.73% | 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
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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Semi-Annual Report
Publish Date:11/03/2015
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Commentary
Publish Date:11/03/2015
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Repurchase Calendar
Publish Date:11/03/2015
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Section 16 Filings available HERE.