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Trending ETFs

Lord Abbett Floating Rate Fund

mutual fund
LRRVX
Payout Change
Pending
Price as of:
$8.16 +0.0 +0.0%
primary theme
Bank Loan
LRRVX (Mutual Fund)

Lord Abbett Floating Rate Fund

Payout Change
Pending
Price as of:
$8.16 +0.0 +0.0%
primary theme
Bank Loan
LRRVX (Mutual Fund)

Lord Abbett Floating Rate Fund

Payout Change
Pending
Price as of:
$8.16 +0.0 +0.0%
primary theme
Bank Loan

Name

As of 10/08/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.16

$4.92 B

8.47%

$0.69

0.54%

Vitals

YTD Return

7.6%

1 yr return

10.5%

3 Yr Avg Return

6.1%

5 Yr Avg Return

4.8%

Net Assets

$4.92 B

Holdings in Top 10

15.9%

52 WEEK LOW AND HIGH

$8.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.54%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 87.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/08/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.16

$4.92 B

8.47%

$0.69

0.54%

LRRVX - Profile

Distributions

  • YTD Total Return 7.6%
  • 3 Yr Annualized Total Return 6.1%
  • 5 Yr Annualized Total Return 4.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.15%
DIVIDENDS
  • Dividend Yield 8.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Lord Abbett Floating Rate Fund
  • Fund Family Name
    LORDABBETT
  • Inception Date
    Apr 04, 2017
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jeffrey Lapin

Fund Description

Under normal conditions, the Fund pursues its investment objective by investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in floating or adjustable rate instruments and derivatives and other instruments that effectively enable the Fund to achieve a floating rate of income. The floating or adjustable rate instruments in which the Fund may invest include, but are not limited to:

·senior secured or unsecured floating rate loans or debt;

·second lien or other subordinated secured or unsecured floating rate loans or debt; and

·floating-rate structured (or securitized) products, including collateralized loan obligations.

The other instruments that effectively enable the Fund to achieve a floating rate of income may include, but are not limited to:

·fixed-rate loans or debt with respect to which the Fund has entered into derivative instruments to effectively convert the fixed-rate interest payments into floating or adjustable rate interest payments;

·exchange-traded funds or notes that provide exposure to floating or adjustable rate loans or obligations; and

·money market investment companies.

The Fund may invest in senior and subordinated loans or debt securities of any maturity or credit quality, including, without limitation, those rated below investment grade by a rating agency or, if unrated, determined by Lord, Abbett & Co. LLC (“Lord Abbett”) to be of comparable quality. Below investment grade securities are commonly referred to as “high-yield” or “junk” bonds and are speculative in nature.

The Fund may invest up to 20% of its net assets in other types of debt securities and short-term instruments, including corporate debt securities and repurchase agreements. For the purposes of this limitation, where the Fund has entered into a derivatives instrument or other transaction intended to effectively convert fixed-rate interest payments on a debt security into floating or adjustable rate interest

payments, the value of the Fund’s investment in the fixed-rate debt security underlying the derivative instrument will not be counted towards this 20% limitation.

The Fund may invest in non-U.S. dollar-denominated loans or securities. The Fund may invest up to 25% of its total assets in loans and securities issued by issuers organized in a country outside of the U.S. or economically tied to a country outside of the U.S., including in emerging markets. The Fund will deem an issuer to be economically tied to a non-U.S. country by looking at a number of factors, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. The Fund will not invest more than 25% of its total assets in any industry; however, this limitation does not apply to mortgage-backed securities, privately issued mortgage-related securities, or securities issued by the U.S. Government, its agencies and instrumentalities.

The Fund may invest in derivative instruments. Currently, the Fund expects to invest in derivatives consisting principally of futures, forwards, options, and swaps. The Fund may use derivatives to seek to enhance returns; to attempt to hedge elements of its investment risk, on both a security- or portfolio-level basis; to manage portfolio duration; as a substitute for holding the underlying asset on which the derivative instrument is based; to effectively convert the fixed-rate interest payments of a debt security held by the Fund into floating or adjustable rate interest payments; or for cash management purposes.

The portfolio management team conducts fundamental research by analyzing industry and issuer specific data and performing quantitative and qualitative credit research. The portfolio management team’s portfolio construction process is based on positioning across the credit quality spectrum, seeking to maximize favorable industries, and selecting loans with attractive structural features. The portfolio management team seeks to reduce risk through portfolio diversification, credit analysis, assessment of risk/return potential, and attention to current developments and trends in interest rates and economic conditions. The investment team may also consider the risks and return potential presented by environmental, social, and governance (“ESG”) factors in investment decisions.

The Fund may sell a security when the Fund believes the security is less likely to benefit from the current market and economic environment, or shows signs of deteriorating fundamentals, among other reasons. The Fund may deviate from the investment strategy described above for temporary defensive purposes. The Fund may miss certain investment opportunities if defensive strategies are used and thus may not achieve its investment objective.

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LRRVX - Performance

Return Ranking - Trailing

Period LRRVX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.6% -3.2% 10.2% 10.07%
1 Yr 10.5% -3.6% 15.3% 17.16%
3 Yr 6.1%* -6.6% 8.2% 13.28%
5 Yr 4.8%* -6.5% 38.1% 39.34%
10 Yr N/A* -2.1% 19.6% 30.29%

* Annualized

Return Ranking - Calendar

Period LRRVX Return Category Return Low Category Return High Rank in Category (%)
2023 3.7% -12.0% 11.1% 28.73%
2022 -6.5% -22.9% 5.1% 31.42%
2021 1.2% -12.2% 11.1% 40.00%
2020 -6.1% -14.1% 289.8% 87.76%
2019 1.6% -8.1% 7.5% 76.89%

Total Return Ranking - Trailing

Period LRRVX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.6% -3.2% 10.2% 10.07%
1 Yr 10.5% -3.6% 15.3% 17.16%
3 Yr 6.1%* -6.6% 8.2% 13.28%
5 Yr 4.8%* -6.5% 38.1% 39.34%
10 Yr N/A* -2.1% 19.6% 28.71%

* Annualized

Total Return Ranking - Calendar

Period LRRVX Return Category Return Low Category Return High Rank in Category (%)
2023 12.8% -12.0% 22.1% 39.18%
2022 -1.9% -22.9% 5.1% 37.93%
2021 5.5% -10.2% 11.1% 27.84%
2020 -1.0% -14.1% 306.9% 80.00%
2019 4.5% -3.6% 10.5% 88.66%

NAV & Total Return History


LRRVX - Holdings

Concentration Analysis

LRRVX Category Low Category High LRRVX % Rank
Net Assets 4.92 B 29.9 M 13.5 B 5.73%
Number of Holdings 497 2 1977 19.62%
Net Assets in Top 10 811 M -191 M 2.37 B 11.54%
Weighting of Top 10 15.88% 5.2% 100.7% 43.24%

Top 10 Holdings

  1. J P MORGAN TERM REPO 8.64%
  2. Barclay Investments REPO 5.33% 1.98%
  3. FIXED INC CLEARING CORP.REPO 1.08%
  4. Cloud Software Group Inc 2022 USD Term Loan B 0.72%
  5. Jane Street Group LLC 2024 Term Loan B 0.65%
  6. Oryx Midstream Services Permian Basin LLC 2024 Term Loan B 0.61%
  7. ACBL HLDG CORP 0.57%
  8. American Airlines Inc 2021 Term Loan 0.56%
  9. McAfee LLC 2022 USD Term Loan B 0.55%
  10. AssuredPartners Inc 2024 Incremental Term Loan B5 0.51%

Asset Allocation

Weighting Return Low Return High LRRVX % Rank
Bonds
91.57% 0.00% 161.82% 81.54%
Other
12.00% -52.39% 34.87% 1.54%
Stocks
1.39% 0.00% 100.74% 43.85%
Preferred Stocks
0.57% -3.99% 7.30% 3.08%
Convertible Bonds
0.09% 0.00% 5.51% 32.95%
Cash
0.00% -61.90% 16.36% 86.92%

Stock Sector Breakdown

Weighting Return Low Return High LRRVX % Rank
Communication Services
100.00% 0.00% 100.00% 1.74%
Utilities
0.00% 0.00% 100.00% 41.74%
Technology
0.00% 0.00% 100.00% 41.74%
Real Estate
0.00% 0.00% 48.61% 31.30%
Industrials
0.00% 0.00% 100.00% 58.26%
Healthcare
0.00% 0.00% 100.00% 31.30%
Financial Services
0.00% 0.00% 89.61% 32.17%
Energy
0.00% 0.00% 100.00% 65.22%
Consumer Defense
0.00% 0.00% 100.00% 41.74%
Consumer Cyclical
0.00% 0.00% 97.66% 47.83%
Basic Materials
0.00% 0.00% 1.36% 29.57%

Stock Geographic Breakdown

Weighting Return Low Return High LRRVX % Rank
US
1.39% -0.01% 100.74% 43.85%
Non US
0.00% 0.00% 0.68% 39.62%

Bond Sector Breakdown

Weighting Return Low Return High LRRVX % Rank
Corporate
98.76% 0.00% 99.80% 4.65%
Securitized
0.81% 0.00% 91.68% 35.27%
Derivative
0.30% -10.96% 0.85% 10.38%
Government
0.13% 0.00% 3.18% 8.14%
Cash & Equivalents
0.00% 0.00% 25.03% 86.15%
Municipal
0.00% 0.00% 0.47% 28.29%

Bond Geographic Breakdown

Weighting Return Low Return High LRRVX % Rank
US
85.77% 0.00% 123.41% 73.46%
Non US
5.80% 0.00% 63.23% 29.23%

LRRVX - Expenses

Operational Fees

LRRVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.54% 0.03% 5.51% 98.88%
Management Fee 0.46% 0.00% 1.89% 7.12%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.04% 0.02% 0.27% 8.89%

Sales Fees

LRRVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

LRRVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

LRRVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 87.00% 4.00% 180.00% 75.51%

LRRVX - Distributions

Dividend Yield Analysis

LRRVX Category Low Category High LRRVX % Rank
Dividend Yield 8.47% 0.00% 11.13% 39.55%

Dividend Distribution Analysis

LRRVX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

LRRVX Category Low Category High LRRVX % Rank
Net Income Ratio 4.15% 1.77% 9.82% 19.14%

Capital Gain Distribution Analysis

LRRVX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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LRRVX - Fund Manager Analysis

Managers

Jeffrey Lapin


Start Date

Tenure

Tenure Rank

Jul 27, 2012

9.85

9.9%

Mr. Lapin joined Lord Abbett in 2012 as a portfolio manager for Lord Abbett’s taxable fixed-income strategies, and was named Partner in 2016. He began his career in the financial services industry in 1997. Previously, he was Managing Director and Head of European Market Credit Coverage at Post Advisory Group. His prior experience also includes serving as Partner, Co-Portfolio Manager at Tablerock Fund Management, LLC; Analyst at Avenue Capital Management, LLC; and Research Analyst at M.J. Whitman, Inc. He earned an AB from Georgetown University, an MBA from New York University’s Leonard N. Stern School of Business, and a JD from Northwestern University’s School of Law.

Robert Lee


Start Date

Tenure

Tenure Rank

Oct 15, 2013

8.63

8.6%

Robert A. Lee is a Partner and Chief Investment Officer at the Lord Abbett & Company. Mr. Lee joined Lord Abbett in 1997 and was named Partner in 2002. His prior experience includes: Portfolio Manager and Vice President at ARM Capital Advisors; Assistant Portfolio Manager and Assistant Vice President at Kidder Peabody Asset Management; and Fixed Income Research Analyst at The First Boston Corporation. Mr. Lee received a BS from the University of Pennsylvania. He has been in the investment business since 1991.

Steven Rocco


Start Date

Tenure

Tenure Rank

Apr 01, 2016

6.17

6.2%

Mr. Rocco is Partner and Director of Taxable Fixed Income of Lord Abbett. Mr. Rocco is a lead portfolio manager for the high yield fixed income strategy and also contributes as portfolio manager to the multi-sector fixed-income strategy. Mr. Rocco joined Lord Abbett in 2004 and was named Partner in 2011. Mr. Rocco joined Lord Abbett as an associate portfolio manager and then transitioned to lead portfolio manager for our short duration and corporate bond strategies. He was previously a Consultant at FactSet. Mr. Rocco received a BA from Cornell University. He is a holder of a Chartered Financial Analyst designation and has been in the investment business since 2001.

Kearney Posner


Start Date

Tenure

Tenure Rank

Apr 01, 2018

4.17

4.2%

Ms. Posner joined Lord Abbett in 2015. Ms. Posner was formerly a Director at MetLife from 2008 to 2015.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 21.18 6.06 3.25