LFRAX | Floating Rate Fund Class A | Lord Abbett

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Floating Rate Fund

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Daily price w/o sales charge as of 04/17/2025

$7.93

$0.00

YTD Returns w/o sales charge as of 04/17/2025

-0.73%

Overall Morningstar Ratings

Bank Loan
as of 03/31/2025

Morningstar rated the Lord Abbett Floating Rate Fund class A share 4, 4 and 3 stars among 215, 208 and 172 Bank Loan Funds for the overall rating and the 3, 5 and 10 year periods ended 3/31/2025, respectively.

Please click here for performance current to the most recent quarter-end and month-end.

Click here to view all legal text including risk information

Summary

Summary

What is the Floating Rate Fund?

The Fund seeks to deliver a high level of current income by investing primarily in a variety of below investment grade loans.

 

HISTORY OF CREDIT RESEARCH

Brings a 45-year heritage of high-yield credit investing, based on rigorous, fundamental credit research.

ATTRACTIVE INCOME & LOW EXPENSES

Has provided attractive income and lower expenses relative to its Morningstar peer group category average.‡

ATTRACTIVE RETURN FOR RISK

Has offered a track record of strong performance versus peers in up and down markets, demonstrating the strength of this active approach as a core bank loan holding over a full market cycle.

Yield

Average Yield to Maturity as of 03/31/2025

8.61%

30-Day Standardized Yield 1 as of 03/31/2025  

6.98%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

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 03/31/2025

Total Net Assets
$4.90 B
Inception Date
12/31/2007
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.80%
Fund Net Expense Ratio
0.80%
Number of Holdings
606
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 0.80%

Net 0.80%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2007
w/o sales charge 0.41% 6.40% 6.53% 8.18% 4.14% 4.27%
Lipper Category Avg. Loan Participation Funds 0.22% 6.00% 5.92% 7.53% 3.90% -
Morningstar LSTA US Leveraged Loan Index 0.48% 6.86% 7.21% 8.96% 4.98% 5.05%
w/ sales charge -1.88% 3.99% 5.73% 7.69% 3.91% 4.14%

Fund Expense Ratio :

Gross 0.80%

Net 0.80%

Fund Expense Ratio :

Gross 0.80%

Net 0.80%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2007
w/o sales charge 0.41% 6.40% 6.53% 8.18% 4.14% 4.27%
Lipper Category Avg. Loan Participation Funds 0.22% 6.00% 5.92% 7.53% 3.90% -
Morningstar LSTA US Leveraged Loan Index 0.48% 6.86% 7.21% 8.96% 4.98% 5.05%
w/ sales charge -1.88% 3.99% 5.73% 7.69% 3.91% 4.14%

Fund Expense Ratio :

Gross 0.80%

Net 0.80%

Past performance is not a reliable indicator or guarantee 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 the current maximum sales charge, had the sales charge been included, returns would have been lower. 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. 

Type Assets
Bank Loans
High Yield Bonds
CLO
Equity
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 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 03/31/2025 View Portfolio

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings provided by Standard & Poor’s and Moody’s. Where the rating agencies rate a security differently, Lord Abbett uses the lower credit 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. 

INVESTMENT TEAM

Kearney M. Posner
Kearney M. Posner, CFA

Partner, Portfolio Manager

26 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

17 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

34 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

24 Years of Industry Experience

Supported By 86 Investment Professionals with 17 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 03/31/2025

8.61%

30-Day Standardized Yield 1 as of 03/31/2025  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.98% 6.98%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 0.80%

Net 0.80%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2007
w/o sales charge 0.41% 6.40% 6.53% 8.18% 4.14% 4.27%
Lipper Category Avg. Loan Participation Funds 0.22% 6.00% 5.92% 7.53% 3.90% -
Morningstar LSTA US Leveraged Loan Index 0.48% 6.86% 7.21% 8.96% 4.98% 5.05%
w/ sales charge -1.88% 3.99% 5.73% 7.69% 3.91% 4.14%

Fund Expense Ratio :

Gross 0.80%

Net 0.80%

Fund Expense Ratio :

Gross 0.80%

Net 0.80%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2007
w/o sales charge 0.41% 6.40% 6.53% 8.18% 4.14% 4.27%
Lipper Category Avg. Loan Participation Funds 0.22% 6.00% 5.92% 7.53% 3.90% -
Morningstar LSTA US Leveraged Loan Index 0.48% 6.86% 7.21% 8.96% 4.98% 5.05%
w/ sales charge -1.88% 3.99% 5.73% 7.69% 3.91% 4.14%

Fund Expense Ratio :

Gross 0.80%

Net 0.80%

Past performance is not a reliable indicator or guarantee 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 the current maximum sales charge, had the sales charge been included, returns would have been lower. 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. 

Year Fund Returns Morningstar LSTA US Leveraged Loan Index
2024 8.79% 8.95%
2023 12.64% 13.32%
2022 -1.84% -0.77%
2021 5.13% 5.20%
2020 -1.70% 3.12%
2019 7.34% 8.64%
2018 -0.23% 0.44%
2017 3.86% 4.12%
2016 9.89% 10.16%
2015 0.35% -0.69%
2014 0.93% -
2013 5.89% -
2012 10.12% -
2011 1.44% -
2010 8.18% -
2009 32.26% -
2008 -21.31% -
Year Q1 Q2 Q3 Q4
2025 0.41% - - -
2024 2.66% 1.82% 1.98% 2.05%
2023 2.98% 3.23% 3.05% 2.83%
2022 -0.09% -5.20% 1.23% 2.38%
2021 1.82% 1.80% 0.98% 0.44%
2020 -15.76% 7.54% 3.79% 4.54%
2019 3.41% 1.64% 0.61% 1.51%
2018 1.17% 0.72% 1.76% -3.78%
2017 0.92% 0.44% 1.12% 1.33%
2016 1.72% 2.77% 2.98% 2.09%
2015 2.05% 0.66% -1.09% -1.24%
2014 1.05% 1.08% -0.58% -0.61%
2013 2.52% 0.35% 1.21% 1.69%
2012 4.06% 0.57% 3.39% 1.78%
2011 1.85% 0.34% -3.95% 3.35%
2010 3.07% -0.89% 3.23% 2.59%
2009 8.97% 11.57% 6.33% 2.31%
2008 -3.34% 4.10% -5.05% -17.64%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 03/31/2025

The chart begins on the Fund's inception date of 12/31/2007.

Based on a hypothetical Class A share investment of $10,000 on 12/31/2007 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Bank Loans
High Yield Bonds
CLO
Equity
Convertibles
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
7-10 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 03/31/2025

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings provided by Standard & Poor’s and Moody’s. Where the rating agencies rate a security differently, Lord Abbett uses the lower credit 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 Positioning as of 12/31/2024

  • We continued to focus on sourcing loans with higher carry. As starting yields remain above 8%, we believe that bank loans are an attractive source of carry. Within the Fund, we maintained our overweight to Single B-rating exposure and added to select BBB loans where we found relative value. We also maintained a modest underweight to BBs and focused on selective opportunities within CCCs as we believe that the current backdrop is favorable for floating rate risk. While there are concerns that the higher for longer narrative may affect lower-rated issuers, there is a much higher level of dispersion within lower-rated credit which in our view provides attractive potential for idiosyncratic investment opportunities.
  • The Fund is more balanced in sector allocations. We have moved the Fund to be more balanced in relative sector positioning. The top three sector allocations continued to be Utility, Technology, and Healthcare. The utility sector continues to display tailwinds including growing demand and falling gas prices. Over the quarter, we added to areas like Retail, Financial Services, and Media/Telecom. On the other hand, we reduced the Fund’s exposure to Insurance, Services, and Energy sectors.
  • We continue to be constructive on bank loans in this environment, highlighted by the recent repricing of Fed rate cut expectations, solid issuer fundamentals, and strong levels of starting yield. Loan issuer fundamentals remain healthy over the last several years in the face of high base rates, and issuers have recently had open access to capital markets to address upcoming debt maturities. The current pace of easing priced into futures markets may be too aggressive, and a walk back of those expectations could lead to higher rates which should further benefit bank loans. The technical picture in loan land remains particularly robust given historic CLO issuance and a limited new issue pipeline. However, we remain wary of the lowest tier of risk given the high volume of liability management exercises from issuers and sponsors alike which we expect to continue to meaningfully weigh on recoveries. Key risk factors to watch remain a resurgence of inflation that upends the narrative accommodative monetary policy, a pivot by issuers to more credit-unfriendly uses of debt finance, and a macro or policy driven spike of interest rate volatility that would leave investors flipping to defensive with less focus on credit.

Portfolio Details as of 03/31/2025

Total Net Assets
$4.90 B
Average Effective Duration
-0.04 Years
Average Maturity
5.2 Years
Average Modified Duration
0.2 Years
Number of Issues
606
Average Yield to Maturity
8.61%

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.

Holding Coupon Maturity Assets
Quikrete Holdings Inc 6.572% 02/10/2032 0.9%
Jane Street Group LLC 6.297% 12/15/2031 0.8%
X Corp 10.922% 10/29/2029 0.7%
Sedgwick Claims Management Services Inc 7.291% 07/31/2031 0.7%
OPAL BIDCO SAS 7.572% 03/31/2032 0.6%
ACBL HLDG CORP 0.000% 09/09/9999 0.6%
Belron Finance 2019 LLC 7.058% 10/16/2031 0.6%
McAfee Corp 7.319% 03/01/2029 0.6%
AI Aqua Merger Sub Inc 7.324% 07/31/2028 0.6%
Hudson River Trading LLC 7.324% 03/18/2030 0.6%
% of Total Assets 6.7%
Holding Coupon Maturity Assets
J P MORGAN SECURITIES INC4.380% 03/03/20255.5%
Invesco Senior Loan ETF0.000% 09/09/99991.9%
J P MORGAN SECURITIES INC4.150% 03/03/20251.8%
Quikrete Holdings Inc6.573% 02/10/20320.9%
Jane Street Group LLC6.396% 12/15/20310.7%
X Corp10.924% 10/26/20290.7%
McAfee Corp7.312% 03/01/20290.6%
ACBL HLDG CORP0.000% 09/09/99990.6%
Belron Finance 2019 LLC7.058% 10/16/20310.6%
AI Aqua Merger Sub Inc7.323% 07/31/20280.6%
ENDEAVOR GROUP HOLDINGS INC7.312% 01/28/20320.5%
Hudson River Trading LLC7.323% 03/18/20300.5%
Amentum Holdings Inc6.574% 09/29/20310.5%
Alpha Generation LLC7.074% 09/30/20310.5%
SPDR Blackstone Senior Loan ETF0.000% 09/09/99990.5%
Central Parent LLC7.558% 07/06/20290.5%
Clarios Global LP7.074% 01/28/20320.5%
AssuredPartners Inc7.812% 02/14/20310.5%
Thunder Generation Funding LLC7.305% 10/03/20310.5%
TransDigm Inc6.853% 01/20/20320.5%
Polaris Newco LLC6.714% 06/05/20280.5%
Great Outdoors Group LLC7.572% 01/23/20320.5%
Modena Buyer LLC8.791% 07/01/20310.5%
First Eagle Holdings Inc7.452% 03/05/20290.5%
Rocket Software Inc8.573% 11/28/20280.5%
Cloud Software Group Inc7.822% 03/29/20290.4%
Medline Borrower LP6.573% 10/23/20280.4%
ADMI Corp10.074% 12/23/20270.4%
AAdvantage Loyalty IP Ltd9.339% 04/20/20280.4%
Asurion LLC9.676% 01/22/20290.4%
Acrisure LLC7.322% 11/06/20300.4%
Allied Universal Holdco LLC8.164% 05/15/20280.4%
Altice France SA7.062% 07/31/20250.4%
Aretec Group Inc7.823% 08/09/20300.4%
Raven Acquisition Holdings LLC7.562% 11/20/20310.4%
Caesars Entertainment Inc6.569% 02/06/20310.4%
Neon Maple US Debt Mergersub Inc7.312% 11/17/20310.4%
Heartland Dental LLC8.824% 04/28/20280.4%
Alliant Holdings Intermediate LLC7.314% 09/19/20310.4%
Dcert Buyer Inc8.312% 10/16/20260.4%
EFS Cogen Holdings I LLC7.805% 10/03/20310.4%
Asurion LLC8.662% 08/21/20280.4%
White Cap Supply Holdings LLC7.567% 10/31/20290.4%
Oryx Midstream Services Permian Basin LLC6.572% 10/05/20280.4%
CSC Holdings LLC6.923% 04/15/20270.4%
BMC Software Inc7.324% 07/30/20310.4%
Compass Power Generation LLC8.069% 04/16/20290.4%
Berlin Packaging LLC7.823% 06/09/20310.4%
Zelis Payments Buyer Inc7.574% 11/26/20310.4%
DTI Holdco Inc8.323% 04/26/20290.4%
Virgin Media Bristol LLC6.926% 01/31/20280.4%
Sedgwick Claims Management Services Inc7.291% 07/31/20310.4%
Primo Brands Corp6.573% 03/31/20280.4%
South Field Energy LLC8.063% 08/29/20310.4%
Husky Injection Molding Systems Ltd8.795% 02/15/20290.4%
Lsf12 Crown US Commercial Bidco LLC8.573% 12/02/20310.4%
Nouryon Finance BV7.552% 04/03/20280.4%
DRW Holdings LLC7.775% 06/26/20310.4%
Renaissance Holdings Corp8.323% 04/08/20300.4%
Hyperion Refinance Sarl7.323% 02/18/20310.4%
Peraton Corp8.173% 02/01/20280.3%
Spin Holdco Inc8.319% 03/06/20280.3%
Arcline FM Holdings LLC8.823% 06/23/20280.3%
Jazz Financing Lux Sarl6.678% 05/05/20280.3%
MASORANGE FINCO PLC6.085% 04/18/20310.3%
ABG Intermediate Holdings 2 LLC6.562% 12/21/20280.3%
PetSmart LLC8.173% 02/14/20280.3%
Tenneco Inc9.473% 11/17/20280.3%
Gainwell Acquisition Corp8.410% 10/01/20270.3%
Charter Next Generation Inc7.323% 12/02/20300.3%
Southern Veterinary Partners LLC7.573% 12/04/20310.3%
Alloy Finco Ltd0.005% 03/06/20280.3%
Telenet Financing USD LLC6.438% 04/28/20280.3%
Flynn Restaurant Group LP8.687% 12/04/20280.3%
Red Planet Borrower LLC7.924% 09/29/20280.3%
ConnectWise LLC8.052% 09/29/20280.3%
Lightstone Holdco LLC10.073% 01/29/20270.3%
WaterBridge Midstream Operating LLC9.077% 06/27/20290.3%
CP Atlas Buyer Inc8.173% 11/23/20270.3%
HAMILTON PROJECTS ACQUIROR LLC7.323% 05/30/20310.3%
Cornerstone Building Brands Inc8.912% 05/15/20310.3%
Spring Education Group Inc8.796% 10/04/20300.3%
PG Polaris BidCo Sarl7.293% 03/24/20310.3%
Park River Holdings Inc7.693% 12/28/20270.3%
Arches Buyer Inc7.669% 12/06/20270.3%
CHG PPC Parent LLC7.437% 12/08/20280.3%
Osaic Holdings Inc7.824% 08/16/20280.3%
720 East CLO 2022-I Ltd7.193% 01/20/20380.3%
AthenaHealth Group Inc7.324% 02/15/20290.3%
Service Logic Acquisition Inc7.793% 10/29/20270.3%
Skopima Consilio Parent LLC8.062% 05/17/20280.3%
UKG Inc7.300% 02/10/20310.3%
Magnera Corp8.552% 11/04/20310.3%
CLOVER HOLDINGS 2 LLC8.319% 12/09/20310.3%
Ascensus Holdings Inc7.317% 08/02/20280.3%
AMC Entertainment Holdings Inc11.322% 01/04/20290.3%
VetStrategy Canada Holdings Inc8.040% 12/06/20280.3%
SUMMER BC HOLDCO B SARL9.592% 02/21/20290.3%
EPIC Y-Grade Services LP10.046% 06/29/20290.3%
Lumen Technologies Inc6.787% 04/16/20290.3%
Caesars Entertainment Inc6.569% 02/06/20300.3%
United PF Holdings LLC8.558% 12/30/20260.3%
888 ACQUISITIONS LIMITED9.589% 07/03/20280.3%
BCPE Empire Holdings Inc7.812% 12/26/20280.3%
PointClickCare Technologies Inc7.541% 11/03/20310.3%
Ensemble RCM LLC7.291% 08/01/20290.3%
Fortress Intermediate 3 Inc8.074% 06/27/20310.3%
Somnigroup International Inc6.822% 10/24/20310.3%
CHG Healthcare Services Inc7.396% 09/29/20280.3%
Curia Global Inc8.141% 08/28/20260.3%
Dragon Buyer Inc7.579% 09/30/20310.3%
Ascend Learning LLC7.320% 12/11/20280.3%
PASADENA PERFO PRODUCTS LLC7.824% 02/27/20320.3%
LEGENCE HOLDINGS LLC7.572% 12/18/20280.3%
WH BORROWER LLC9.074% 02/12/20320.3%
Vision Solutions Inc8.290% 04/24/20280.3%
Sophos Holdings LLC7.937% 03/05/20270.3%
Speedster Bidco GmbH7.823% 10/13/20310.3%
MH Sub I LLC8.573% 05/03/20280.3%
INSTRUCTURE HOLDINGS INC7.315% 11/13/20310.3%
BCPE North Star US Holdco 2 Inc8.437% 06/12/20280.3%
Varsity Brands Inc8.068% 08/26/20310.3%
Ensono Inc8.438% 05/30/20280.3%
Global Medical Response Inc9.062% 10/02/20280.3%
Ivanti Software Inc8.569% 12/01/20270.3%
Nexus Buyer LLC7.820% 07/31/20310.2%
Mavis Tire Express Services Topco Corp7.324% 05/04/20280.2%
BCPE PEQUOD BUYER INC7.819% 11/25/20310.2%
Brand Industrial Services Inc8.815% 08/01/20300.2%
Regatta XXVIII Funding Ltd8.300% 04/25/20370.2%
Ardonagh Group Finco Pty Ltd8.199% 02/18/20310.2%
KKR CLO 45a Ltd8.202% 04/15/20350.2%
CoreLogic Inc7.937% 06/02/20280.2%
Fertitta Entertainment LLC/NV7.824% 01/29/20290.2%
Champions Financing Inc9.087% 02/23/20290.2%
8th Avenue Food & Provisions Inc8.187% 10/01/20250.2%
Fitness International LLC9.539% 02/12/20290.2%
BELLIS ACQUISITION COMPANY PLC6.822% 05/14/20310.2%
GFL ENVIRONMENTAL INC6.824% 02/04/20320.2%
GTCR Everest Borrower LLC7.319% 09/05/20310.2%
ION Trading Finance Ltd6.964% 04/03/20280.2%
REALTRUCK GROUP INC9.435% 01/31/20280.2%
Proampac PG Borrower LLC8.547% 09/15/20280.2%
Amynta Agency Borrower Inc7.324% 12/29/20310.2%
Jump Financial LLC8.567% 02/20/20320.2%
HUB International Ltd6.787% 06/20/20300.2%
WaterBridge NDB Operating LLC8.351% 05/10/20290.2%
Garda World Security Corp7.323% 02/01/20290.2%
SINCLAIR TELEVISION GROUP INC8.523% 12/31/20300.2%
S&S Holdings LLC9.323% 10/01/20310.2%
Nexus Buyer LLC10.573% 11/05/20290.2%
Pacific Dental Services Inc7.062% 03/17/20310.2%
Leia Finco US LLC9.573% 10/12/20320.2%
AmWINS Group Inc6.574% 01/21/20320.2%
Cotiviti Inc7.073% 02/17/20320.2%
Virgin Media Bristol LLC7.757% 03/31/20310.2%
SeaWorld Parks & Entertainment Inc6.323% 12/04/20310.2%
Cushman & Wakefield US Borrower LLC7.573% 01/31/20300.2%
Foundation Building Materials Inc7.802% 01/31/20280.2%
Lumen Technologies Inc6.787% 04/15/20300.2%
Ellucian Holdings Inc7.322% 10/29/20290.2%
Cengage Learning Inc7.822% 03/24/20310.2%
Stonepeak Nile Parent LLC7.072% 02/03/20320.2%
UTEX INDUSTRIES0.000% 09/09/99990.2%
PRA Group Inc5.000% 10/01/20290.2%
Corp Service Co6.320% 11/05/20290.2%
TTF Lower Intermediate LLC8.062% 07/18/20310.2%
FNZ USA FinCo LLC9.303% 11/05/20310.2%
COGENTRIX FINANCE HOLDCO I LLC7.073% 02/13/20320.2%
Azalea Topco Inc7.574% 04/30/20310.2%
RAD CLO 27 Ltd7.091% 01/15/20380.2%
SupplyOne Inc8.070% 04/21/20310.2%
WASH Multifamily Acquisition Inc5.750% 04/15/20260.2%
Cloud Software Group Inc8.052% 03/24/20310.2%
MARKET BIDCO LIMITED7.022% 11/14/20300.2%
RealPage Inc7.599% 04/24/20280.2%
Bakelite US Holdco Inc8.087% 12/23/20310.2%
Kobe US Midco 2 Inc9.250% 11/01/20260.2%
Anastasia Parent LLC8.047% 08/11/20250.2%
OneDigital Borrower LLC7.324% 07/02/20310.2%
CD+R HYDRA BUYER INC8.419% 03/25/20310.2%
Asurion LLC8.414% 08/21/20280.2%
Delta Topco Inc7.070% 12/03/20290.2%
Armor Holdco Inc8.073% 12/11/20280.2%
Vision Solutions Inc11.587% 04/23/20290.2%
First Advantage Holdings LLC7.574% 10/31/20310.2%
Global Auto Holdings Ltd/AAG FH UK Ltd8.750% 01/15/20320.2%
TransDigm Inc7.040% 03/22/20300.2%
INEOS Finance PLC6.095% 06/23/20310.2%
National Mentor Holdings Inc8.173% 03/02/20280.2%
Coherent Corp6.323% 07/02/20290.2%
CELESTIAL SATURN PARENT INC10.937% 06/04/20290.2%
Leslie's Poolmart Inc7.187% 03/09/20280.2%
TransDigm Inc6.819% 02/28/20310.2%
Curaleaf Holdings Inc8.000% 12/15/20260.2%
Frontdoor Inc6.564% 12/19/20310.2%
Cinemark USA Inc7.074% 05/24/20300.2%
Trulieve Cannabis Corp8.000% 10/06/20260.2%
Saks Global Enterprises LLC11.000% 12/15/20290.2%
Peer Holding III BV7.310% 07/01/20310.2%
Pegasus Bidco BV7.546% 07/12/20290.2%
Mamba Purchaser Inc7.312% 10/16/20280.2%
Aragorn Parent Corp8.562% 12/15/20280.2%
Aggreko Holdings Inc7.323% 08/02/20290.2%
Generate CLO 15 Ltd8.043% 07/20/20370.2%
BCPE Grill Parent Inc9.074% 09/30/20300.2%
Peer Holding III BV7.573% 10/28/20300.2%
Star Holding LLC8.824% 07/31/20310.2%
Leia Finco US LLC7.535% 10/09/20310.2%
MH Sub I LLC10.572% 02/23/20290.2%
Boxer Parent Co Inc10.037% 07/30/20320.2%
Magnite Inc8.062% 02/06/20310.2%
Advantage Sales & Marketing Inc8.667% 10/28/20270.2%
XPLOR T1 LLC7.827% 06/24/20310.2%
Hunter Douglas Inc7.553% 01/19/20320.2%
Acuris Finance US Inc / Acuris Finance SARL9.000% 08/01/20290.2%
Indy US Holdco LLC7.822% 03/06/20280.2%
GoldenTree Loan Management US CLO 16 Ltd6.716% 01/20/20380.2%
Deuce Finco Plc5.500% 06/15/20270.2%
Carlyle US CLO 2024-1 Ltd8.202% 04/15/20370.2%
LONG RIDGE ENERGY LLC8.814% 02/19/20320.2%
WCG Intermediate Corp7.323% 02/27/20320.2%
Talen Energy Supply LLC7.788% 05/17/20300.2%
Blackstone Mortgage Trust Inc8.187% 12/11/20280.2%
Bella Holding Co LLC7.570% 05/10/20280.2%
Mitchell International Inc7.562% 06/17/20310.2%
Storable Inc7.812% 04/17/20280.2%
CPM Holdings Inc8.824% 09/28/20280.2%
Titan US Finco LLC8.293% 10/18/20280.2%
Ontario Gaming GTA LP8.560% 08/01/20300.2%
Dryden 115 CLO Ltd8.093% 04/18/20370.2%
Trans Union LLC6.073% 06/24/20310.2%
Lightning Power LLC7.573% 08/18/20310.2%
VIANT MEDICAL HOLDINGS INC8.294% 10/29/20310.2%
Apex Group Treasury LLC7.823% 02/20/20320.2%
Organon & Co5.403% 12/22/20310.2%
COLOSSEUM DENTAL FINANCE BV6.303% 02/25/20320.2%
Chrysaor Bidco Sarl7.824% 10/30/20310.2%
GrubHub Holdings Inc5.500% 07/01/20270.2%
Tank Holding Corp10.424% 03/31/20280.2%
GIH Borrower LLC6.818% 11/26/20310.2%
Conair Holdings LLC8.176% 05/17/20280.2%
Generate Clo 16 Ltd7.543% 07/20/20370.2%
Examworks Bidco Inc7.062% 11/01/20280.2%
NVENT ELECTRIC PUBLIC LTD CO7.824% 01/30/20320.2%
Benefit Street Partners CLO IV Ltd7.993% 04/20/20340.2%
ECO MATERIAL TECH INC7.572% 01/30/20320.2%
MH Sub I LLC8.574% 12/31/20310.2%
Vibrantz Technologies Inc8.643% 04/23/20290.2%
Carnival Corp6.125% 02/15/20330.2%
Werner FinCo LP / Werner FinCo Inc11.500% 06/15/20280.2%
Hobbs & Associates LLC7.540% 07/23/20310.2%
Rakuten Group Inc9.750% 04/15/20290.2%
Petco Health & Wellness Co Inc7.669% 03/06/20280.2%
Veritiv Operating Co8.323% 11/29/20300.2%
Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl8.750% 05/01/20290.2%
JAVELIN BUYER INC.7.574% 12/08/20310.2%
VistaJet Malta Finance PLC / Vista Management Holding Inc9.500% 06/01/20280.2%
Project Alpha Intermediate Holding Inc7.573% 10/28/20300.2%
Millennium Escrow Corp6.625% 08/01/20260.2%
Barracuda Networks Inc11.323% 08/15/20300.2%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp4.250% 02/01/20270.2%
BARENTZ INTERNATIONAL B V8.313% 03/28/20310.2%
TIH Insurance Holdings LLC7.069% 05/06/20310.2%
Cornerstone Generation LLC7.562% 10/28/20310.2%
CPPIB OVM Member US LLC7.070% 08/20/20310.2%
Kodiak BP LLC8.073% 12/04/20310.2%
Proofpoint Inc7.324% 08/31/20280.2%
JetBlue Airways Corp9.770% 08/27/20290.2%
IFCO MANAGEMENT GMBH6.511% 11/21/20290.2%
Penn Entertainment Inc6.823% 05/03/20290.2%
Apidos Clo Lii6.717% 04/20/20380.2%
Ahead DB Holdings LLC7.791% 02/03/20310.2%
Rand Parent LLC8.500% 02/15/20300.2%
QSRP FINCO BV7.776% 06/16/20310.2%
FORTIS 333 INC7.824% 02/06/20320.2%
National Mentor Holdings Inc11.560% 03/02/20290.2%
Grant Thornton Advisors Holdings LLC7.055% 05/30/20310.2%
Navient Corp9.375% 07/25/20300.2%
Ballyrock CLO 22 Ltd7.802% 04/15/20370.2%
Star Parent Inc8.075% 09/30/20300.2%
Wildfire Intermediate Holdings LLC7.500% 10/15/20290.2%
IMA Industria Macchine Automatiche SpA6.535% 04/15/20290.1%
BCP V MDLR SRVCS HLDNGS IV LTD6.965% 12/22/20280.1%
Alta Equipment Group Inc9.000% 06/01/20290.1%
Ares XLIII CLO Ltd7.302% 01/15/20380.1%
Boost Newco Borrower LLC6.323% 01/31/20310.1%
Recess Holdings Inc8.072% 02/20/20300.1%
Nova Alexandre III SAS8.035% 07/15/20290.1%
LBM Acquisition LLC8.173% 06/06/20310.1%
Zelis Payments Buyer Inc7.062% 09/28/20290.1%
Cotiviti Inc7.073% 04/30/20310.1%
Oscar Acquisitionco LLC8.732% 04/30/20290.1%
Quikrete Holdings Inc6.573% 04/14/20310.1%
JFL-Tiger Acquisition Co Inc8.293% 10/17/20300.1%
Ballyrock CLO 28 Ltd7.127% 01/20/20380.1%
HILCORP ENERGY I LP6.324% 02/05/20300.1%
Seaspan Corp5.500% 08/01/20290.1%
Brock Holdings III LLC10.291% 05/02/20300.1%
Sunnova Energy Corp5.875% 09/01/20260.1%
Astoria Energy LLC7.562% 12/10/20270.1%
ROCKPOINT GAS STORAGE CA7.851% 09/18/20310.1%
Edelman Financial Engines Center LLC/The9.573% 10/06/20280.1%
Kraken Oil & Gas Partners LLC7.625% 08/15/20290.1%
LifePoint Health Inc7.819% 05/19/20310.1%
Hunter US Bidco Inc8.643% 08/21/20280.1%
CD+R FIREFLY BIDCO LIMITED10.200% 06/21/20280.1%
CIFC Funding 2013-I Ltd8.119% 07/16/20300.1%
Bally's Corp7.802% 10/02/20280.1%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
Michaels Cos Inc/The8.814% 04/17/20280.1%
Saturn Oil & Gas Inc9.625% 06/15/20290.1%
Carriage Purchaser Inc7.875% 10/15/20290.1%
BARNES GROUP INC7.324% 01/27/20320.1%
Sabre GLBL Inc7.937% 12/17/20270.1%
Lumen Technologies Inc6.688% 03/15/20270.1%
Conga Corp7.797% 05/08/20280.1%
Resonetics LLC7.573% 06/18/20310.1%
Wand NewCo 3 Inc7.072% 01/30/20310.1%
CMG Media Corp7.923% 06/18/20290.1%
Constant Contact Inc8.297% 02/10/20280.1%
Applied Systems Inc7.329% 02/24/20310.1%
Oceankey US II Corp7.912% 12/15/20280.1%
Dye & Durham Ltd8.625% 04/15/20290.1%
UNITED PETFOOD FINANCE BV5.391% 02/16/20320.1%
Clarios Global LP6.812% 05/06/20300.1%
OneDigital Borrower LLC9.573% 07/02/20320.1%
Sabre GLBL Inc8.673% 06/30/20280.1%
LSF11 A5 HoldCo LLC7.932% 10/16/20280.1%
Concentra Health Services Inc6.574% 07/28/20310.1%
Sabre GLBL Inc4.000% 04/15/20250.1%
Constant Contact Inc11.797% 02/12/20290.1%
Chobani LLC6.817% 10/25/20270.1%
Ingenovis Health Inc8.187% 03/06/20280.1%
Solenis Holdings Ltd7.337% 06/23/20310.1%
Wellpath Holdings Inc10.080% 10/01/20250.1%
Avolon TLB Borrower 1 US LLC6.073% 06/24/20300.1%
MOSEL BIDCO SE8.859% 09/16/20300.1%
Cerdia Finanz GmbH9.375% 10/03/20310.1%
CEVA SANTE ANIMALE5.985% 11/13/20300.1%
LifePoint Health Inc8.052% 05/19/20310.1%
X Corp9.500% 10/29/20290.1%
Elmwood CLO 28 Ltd7.603% 04/17/20370.1%
CSC Holdings LLC6.500% 02/01/20290.1%
KREF HOLDINGS X LLC7.562% 02/25/20320.1%
SMYRNA READY MIX CONCRETE LLC7.320% 04/02/20290.1%
Talen Energy Supply LLC6.817% 12/15/20310.1%
UPFIELD BV8.572% 01/03/20280.1%
Ahead DB Holdings LLC6.625% 05/01/20280.1%
Baytex Energy Corp8.500% 04/30/20300.1%
Star Leasing Co LLC7.625% 02/15/20300.1%
PEGASUS BIDCO BV6.231% 07/12/20290.1%
Capstone Borrower Inc7.558% 06/17/20300.1%
AMBER FINCO PLC5.985% 07/04/20290.1%
Blackstone Mortgage Trust Inc6.678% 04/23/20260.1%
USALCO LLC8.324% 09/30/20310.1%
Radnet Management Inc6.568% 04/18/20310.1%
Entain PLC5.779% 06/30/20280.1%
Flynn Restaurant Group LP8.074% 01/28/20320.1%
Select Medical Corp6.323% 12/03/20310.1%
EDGE FINCO PLC7.016% 09/01/20310.1%
Park-Ohio Industries Inc6.625% 04/15/20270.1%
Herens Holdco Sarl6.639% 07/03/20280.1%
AGL CLO 29 Ltd8.043% 04/21/20370.1%
BOLUDA TOWAGE S.L.6.315% 01/31/20300.1%
Emrld Borrower LP6.810% 08/04/20310.1%
Dechra Finance US LLC7.562% 12/03/20310.1%
United Airlines Inc6.291% 02/24/20310.1%
Vermilion Energy Inc6.875% 05/01/20300.1%
Waystar Technologies Inc6.574% 10/22/20290.1%
Arsenal AIC Parent LLC7.072% 08/19/20300.1%
Epicor Software Corp7.062% 05/30/20310.1%
Cast & Crew LLC8.174% 12/29/20280.1%
GAINWELL ACQUISITION CORP12.854% 10/02/20280.1%
Peer Holding III BV5.771% 11/24/20310.1%
Rand Parent LLC7.323% 03/18/20300.1%
PROJECT ALPHA INTERME HLDG INC9.323% 11/22/20320.1%
Surgery Center Holdings Inc7.062% 12/19/20300.1%
Bulldog Purchaser Inc8.069% 06/30/20310.1%
Dermatology Intermediate Holdings III Inc9.802% 04/02/20290.1%
Phoenix Newco Inc6.824% 11/15/20280.1%
ASP Unifrax Holdings Inc10.425% 09/30/20290.1%
Freedom Mortgage Corp6.625% 01/15/20270.1%
TOUCHDOWN ACQUIRER INC7.043% 02/21/20310.1%
Grinding Media Inc7.819% 10/12/20280.1%
ASPIRE BAKERIES HOLDINGS LLC8.572% 12/23/20300.1%
Cotiviti Inc7.625% 04/30/20310.1%
Mitchell International Inc9.562% 06/17/20320.1%
NRG Energy Inc6.068% 04/16/20310.1%
ACProducts Holdings Inc6.375% 05/15/20290.1%
New Frontera Holdings LLC16.300% 07/28/20260.1%
TruGreen LP8.423% 11/02/20270.1%
RealPage Inc8.099% 04/24/20280.1%
PODS LLC7.575% 03/31/20280.1%
INEOS US Finance LLC7.323% 02/07/20310.1%
GEN II FUND SERVICES LLC7.068% 11/19/20310.1%
SPX FLOW Inc7.323% 04/05/20290.1%
CEVA SANTE ANIMALE7.569% 11/13/20300.1%
Sabre GLBL Inc7.937% 12/17/20270.1%
OCP CLO 2024-31 Ltd8.243% 04/20/20370.1%
Evergreen Acqco 1 LP / TVI Inc9.750% 04/26/20280.1%
Cornerstone Building Brands Inc7.662% 04/12/20280.1%
Altice France SA5.589% 02/02/20260.1%
Plaskolite PPC Intermediate II LLC8.580% 12/15/20250.1%
Realtruck Group Inc9.437% 01/31/20280.1%
McGraw-Hill Education Inc7.573% 08/06/20310.1%
Park River Holdings Inc5.625% 02/01/20290.1%
Advantage Sales & Marketing Inc6.500% 11/15/20280.1%
Bain Capital Credit CLO 2023-3 Ltd12.847% 07/24/20360.1%
Aramark Services Inc6.324% 06/24/20300.1%
ACProducts Holdings Inc8.553% 05/17/20280.1%
Level 3 Financing Inc10.982% 04/16/20290.1%
Staples Inc10.750% 09/01/20290.1%
Hanger Inc7.822% 10/23/20310.1%
KUEHG Corp7.537% 06/12/20300.1%
Directv Financing LLC9.552% 08/02/20270.1%
TransMontaigne Partners LLC8.500% 06/15/20300.1%
Project Boost Purchaser LLC7.308% 07/16/20310.1%
LORCA HOLDCO LIMITED5.272% 03/21/20310.1%
ACBL HLDG CORP0.000% 09/09/99990.1%
S&S Holdings LLC8.375% 10/01/20310.1%
Tank Holding Corp10.422% 03/31/20280.1%
Asurion LLC7.687% 07/30/20270.1%
DONCASTERS FINANCE US LLC10.822% 04/23/20300.1%
IMA Industria Macchine Automatiche SpA6.535% 04/15/20290.1%
New Frontera Holdings LLC5.800% 07/28/20280.1%
Creative Artists Agency LLC7.073% 10/01/20310.1%
SOUTH FIELD LLC7.573% 08/21/20310.1%
Nouryon Finance BV7.552% 04/03/20280.1%
Red Planet Borrower LLC9.573% 09/29/20280.1%
CLEARWATER ANALYTICS LLC6.573% 02/09/20320.1%
Invesco US CLO 2023-2 Ltd9.243% 04/21/20360.1%
SERVICE LOGIC ACQUISITION INC7.312% 10/29/20270.0%
CEVA SANTE ANIMALE7.052% 11/13/20300.0%
AIMCO CLO 23 Ltd6.717% 04/20/20380.0%
Pikes Peak CLO 66.823% 05/18/20340.0%
Sigma Holdco BV7.875% 05/15/20260.0%
Staples Inc10.069% 09/10/20290.0%
Tank Holding Corp10.422% 03/31/20280.0%
WELLPATH HOLDINGS INC11.567% 06/09/20250.0%
WELLPATH HOLDINGS INC11.567% 06/09/20250.0%
Hightower Holding LLC7.323% 01/15/20320.0%
MASORANGE FINCO PLC7.826% 04/17/20310.0%
QSRP FINCO BV7.777% 06/16/20310.0%
FRONTERA GENERATION0.000% 09/09/99990.0%
Goldentree Loan Management US CLO 1 Ltd6.703% 04/20/20340.0%
FX USD/EUR 05/250.000% 05/23/20250.0%
Interest Rate Swap1.225% 01/15/20300.0%
ION Corporate Solutions Finance Sarl6.235% 03/13/20280.0%
MILANO ACQUISITION CORP12.310% 10/01/20280.0%
OCP CLO 2023-30 LTD8.797% 01/24/20370.0%
South Field Energy LLC8.063% 08/29/20310.0%
Buckeye Partners LP6.064% 11/02/20260.0%
Interest Rate Swap1.220% 10/15/20290.0%
Genesee & Wyoming Inc6.099% 04/10/20310.0%
Realtruck Group Inc7.937% 01/31/20280.0%
Concentra Health Services Inc6.324% 07/28/20310.0%
Lightstone Holdco LLC10.073% 01/29/20270.0%
Hobbs & Associates LLC7.572% 07/23/20310.0%
Dynasty Acquisition Co Inc6.574% 10/31/20310.0%
Total Return Swap4.360% 03/20/20250.0%
Interest Rate Swap2.475% 10/01/20290.0%
Evergreen Acqco 1 LP8.041% 04/26/20280.0%
Interest Rate Swap2.489% 08/01/20290.0%
National Mentor Holdings Inc8.160% 03/02/20280.0%
TNT CRANE AND RIGGING0.000% 09/09/99990.0%
CHINOS INTERMEDIATE 2 LLC0.000% 09/09/99990.0%
Sabre GLBL Inc9.412% 06/30/20280.0%
Total Return Swap4.360% 03/20/20250.0%
Dynasty Acquisition Co Inc6.574% 10/31/20310.0%
SOUTH FIELD LLC7.573% 08/21/20310.0%
Interest Rate Swap3.317% 04/30/20300.0%
FX USD/GBP 03/250.000% 03/14/20250.0%
Dermatology Intermediate Holdings III Inc8.569% 04/02/20290.0%
Hexion Holdings Corp8.323% 03/15/20290.0%
Great Outdoors Group LLC8.187% 03/06/20280.0%
RVR Dealership Holdings LLC8.193% 02/08/20280.0%
PROJECT CASTLE INC10.054% 06/01/20290.0%
American Trailer World Corp8.173% 03/03/20280.0%
LSCS HOLDINGS INC.8.926% 12/18/20280.0%
Hanger Inc7.822% 10/23/20310.0%
DONCASTERS FINANCE US LLC10.822% 04/23/20300.0%
Chrysaor Bidco Sarl7.824% 10/30/20310.0%
USALCO LLC8.329% 09/30/20310.0%
UTEX INDUSTRIES0.000% 09/09/99990.0%
MIRABELA NICKEL LTD.1.000% 09/16/20440.0%
Raven Acquisition Holdings LLC7.573% 11/20/20310.0%
TNT CRANE AND RIGGING0.000% 09/09/99990.0%
AVSC Holding Corp10.209% 10/15/20260.0%
Interest Rate Swap4.214% 09/01/20260.0%
FX EUR/USD 05/250.000% 05/23/20250.0%
Interest Rate Swap4.007% 06/01/20280.0%
Interest Rate Swap4.491% 10/06/20260.0%
FX EUR/USD 05/250.000% 05/23/20250.0%
Interest Rate Swap4.058% 07/25/20300.0%
Interest Rate Swap4.021% 04/26/20280.0%
Interest Rate Swap4.423% 02/01/20270.0%
FX USD/GBP 03/250.000% 03/14/20250.0%
Interest Rate Swap4.131% 04/15/20290.0%
Interest Rate Swap4.015% 01/15/20320.0%
Interest Rate Swap3.000% 03/19/20300.0%
Interest Rate Swap4.350% 03/19/20270.0%

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.

Sector Allocationas of 03/31/2025

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Clo arrowUp0.4%
Communications^internet^internet Financial Svcs arrowDown0.2%
Consumer, Cyclical^retail^retail-Petroleum Prod arrowUp0.1%
Automotive arrowUp1.7%
Industrial^transportation^transport-Air Freight -
Shipping arrowDown0.1%
Cable/Wireless Video arrowUp0.1%
Healthcare arrowDown0.1%
Forest Prod/Containers arrowDown0.3%
Retail arrowDown0.2%
Broadcasting 0.0%
Financial arrowDown3.5%
Housing arrowUp2.0%
Aerospace arrowDown0.6%
Metals/Minerals arrowDown0.1%
Land Transportation 0.0%
Telecommunications arrowUp0.2%
Diversified Media arrowUp0.3%
Consumer Durables arrowDown0.6%
Wireless Communications -
Manufacturing arrowUp0.7%
Gaming/Leisure arrowDown0.5%
Utility arrowDown0.1%
Other -
Food/Tobacco 0.0%
Chemicals arrowUp0.2%
Service arrowDown1.1%
Consumer Non-Durables arrowUp1.2%
Information Technology arrowDown0.2%
Transportation 0.0%
Industrial^environmental Control^air Pollution Con -
Food And Drug arrowUp0.1%
Energy arrowUp0.6%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 04/17/2025
$0.14349
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 03/31/2025 $0.04891 $8.05
Daily Daily 02/28/2025 $0.04519 $8.13
Daily Daily 01/31/2025 $0.04939 $8.16

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 04/30/2025
Daily Daily 05/31/2025
Daily Daily 06/30/2025
Daily Daily 07/31/2025
Daily Daily 08/31/2025
Daily Daily 09/30/2025
Daily Daily 10/31/2025
Daily Daily 11/30/2025
Daily Daily 12/31/2025

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/17/2013 12/18/2013 - $0.0160 $0.0160 $9.50
*

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

Sales Charge Schedule as of 04/17/2025

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $8.11
$100,000 to $249,999 1.75% 1.50% $8.07
$250,000 to $499,999 1.25% 1.00% $8.03
Greater than $500,000 0.00% 1.00% $7.93

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers View Full Disclosure

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

  • Rights of Accumulation - A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.

  • Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

  • purchases of $1 million or more (may be subject to a CDSC);
  • purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
  • purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
  • purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
  • certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

 

Expense Ratioas of 03/31/2025

Fund Gross Expense Ratio 0.80%
Fund Net Expense Ratio 0.80%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Financial Statements and Other Information *
Publish Date:11/03/2015
Annual Tailored Shareholder Report
Publish Date:11/03/2015
Semi-Annual Financial Statements and Other Information *
Publish Date:11/03/2015
Semi-Annual Tailored Shareholder Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
* includes items 7-11 of form N-CSR as required, if any.

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‡Morningstar Bank Loan Category. Data as of 06/30/2016. The Morningstar Bank Loan portfolios primarily invest in floating-rate loans instead of bonds. In exchange for their credit risk, these loans offer high interest payments that typically float above a common short-term benchmark such as the London Interbank Offered Rate or LIBOR.

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

3

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of investments in debt securities will fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the prices of debt securities tend to rise. The Fund may invest substantially in high yield, lower-rated securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. Moreover, the specific collateral used to secure a loan may decline in value or become illiquid, which would adversely affect the loan's value. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. Certain of the Fund's derivative transactions may give rise to leverage risk. Leverage, including borrowing for investment purposes, may increase volatility in the Fund by magnifying the effect of changes in the value of the Fund's holdings. The use of leverage may cause investors in the Fund to lose more money in adverse environments than would have been the case in the absence of leverage. These factors may affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

The Morningstar LSTA US Leveraged Loan Index is a market-value weighted index designed to measure the performance of the US leveraged loan market.

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