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LFRRX Lord Abbett Floating Rate R2

  • Fund
  • LFRRX
  • Price as of: Sep 18, 2018
  • $9.17
  • - $0.00
  • - 0.00%
  • Category
  • Bank Loan

LFRRX - Profile

Vitals

  • YTD Return -0.2%
  • 3 Yr Annualized Return 4.5%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $14.8 B
  • Holdings in Top 10 7.5%

52 WEEK LOW AND HIGH

$9.17
$9.14
$9.25

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.20%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 81.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

Bank Loan
  • Fund Type Open End Mutual Fund
  • Investment Style Bank Loan

Distributions

  • YTD Total Return -0.2%
  • 3 Yr Annualized Total Return 4.5%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.04%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Lord Abbett Floating Rate Fund
  • Fund Family Name Lord Abbett
  • Inception Date Dec 31, 2007
  • Shares Outstanding N/A
  • Share Class Retirement
  • Currency USD
  • Domiciled Country United States
  • Manager Jeffrey D. 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. It may invest up to 20% of its net assets in other types of debt securities and short-term instruments.

LFRRX - Performance

Return Ranking - Trailing

Period LFRRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.2% -1.8% 4.4% 43.60% 4
1 Yr 4.5% -1.0% 12.4% 30.19% 2
3 Yr 4.5% * 0.2% 6.1% 31.73% 2
5 Yr 3.5% * 0.6% 5.8% 42.41% 3
10 Yr 4.4% * 0.3% 6.7% 43.24% 3

* Annualized


Return Ranking - Calendar

Period LFRRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -0.6% -5.3% 6.5% 58.57% 4
2016 5.0% -12.2% 7.9% 29.47% 3
2015 -4.0% -10.4% 0.0% 27.05% 2
2014 -3.6% -6.9% 12.5% 44.61% 4
2013 1.1% -1.3% 11.2% 27.27% 2

Total Return Ranking - Trailing

Period LFRRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.2% -100.0% 4.4% 43.13% 4
1 Yr 4.5% -1.6% 12.4% 21.23% 2
3 Yr 4.5% * 0.3% 6.1% 24.04% 2
5 Yr 3.5% * 0.6% 5.8% 34.03% 2
10 Yr 4.4% * 0.3% 6.7% 41.44% 3

* Annualized


Total Return Ranking - Calendar

Period LFRRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -0.6% -5.3% 6.5% 58.57% 4
2016 5.0% -12.2% 10.8% 40.58% 3
2015 -4.0% -8.8% 2.9% 35.27% 3
2014 -3.6% -6.9% 12.5% 54.90% 4
2013 1.2% -1.3% 11.2% 31.82% 2

NAV & Total Return History

LFRRX - Holdings

Filings data as of: Jul 31, 2018

Concentration Analysis

LFRRX Category Low Category High LFRRX % Rank Quintile
Net Assets 14.8 B 51.6 M 15.4 B 1.42% 1
Number of Holdings 630 103 1866 3.77% 1
Net Assets in Top 10 1.04 B -331 M 1.98 B 2.36% 1
Weighting of Top 10 7.5% 5.0% 224.2% 25.47% 4

Top 10 Holdings

  1. Dell International L.L.C. (Emc Corporation) 1.03%
  2. Charter Communications Operating, Llc (Aka Cco Safari Llc) 0.82%
  3. Hub International Limited 0.72%
  4. Centurylink, Inc. 0.67%
  5. Asurion, Llc (Fka Asurion Corporation) 0.66%
  6. Stars Group Holdings B.V. 0.56%
  7. Rackspace Hosting, Inc. 0.56%
  8. Sprint Communications, Inc. 0.55%
  9. Graftech International Ltd. 0.53%
  10. Invesco Senior Loan ETF 1.42%

Asset Allocation

Weighting Category Low Category High LFRRX % Rank Quintile
Bonds
99.26% 5.65% 103.37% 3.30% 1
Convertible Bonds
0.40% 0.00% 6.79% 3.30% 1
Stocks
0.15% 0.00% 8.49% 17.45% 3
Cash
0.15% -7.89% 87.26% 27.36% 5
Other
0.03% -2.43% 59.34% 22.64% 4
Preferred Stocks
0.00% 0.00% 0.57% 7.08% 3

Stock Sector Breakdown

Weighting Category Low Category High LFRRX % Rank Quintile
Real Estate
0.15% 0.00% 0.61% 1.09% 1
Utilities
0.00% 0.00% 0.43% 6.01% 3
Technology
0.00% 0.00% 0.06% 1.09% 2
Industrials
0.00% 0.00% 0.65% 7.65% 3
Healthcare
0.00% 0.00% 0.09% 1.64% 2
Financial Services
0.00% 0.00% 1.04% 3.83% 2
Energy
0.00% 0.00% 1.33% 10.93% 3
Communication Services
0.00% 0.00% 0.13% 3.83% 3
Consumer Defense
0.00% 0.00% 0.13% 3.83% 2
Consumer Cyclical
0.00% 0.00% 0.85% 13.11% 4
Basic Materials
0.00% 0.00% 1.72% 10.38% 3

Stock Geographic Breakdown

Weighting Category Low Category High LFRRX % Rank Quintile
US
0.15% 0.00% 8.49% 15.57% 3
Non US
0.00% 0.00% 1.01% 6.60% 3

Bond Sector Breakdown

Weighting Category Low Category High LFRRX % Rank Quintile
Corporate
99.25% 22.75% 103.35% 0.94% 1
Securitized
0.25% 0.00% 48.85% 13.21% 2
Cash & Equivalents
0.15% -8.81% 164.55% 26.42% 5
Derivative
0.00% -33.31% 17.86% 6.60% 3
Municipal
0.00% 0.00% 1.96% 2.36% 2
Government
0.00% -115.02% 19.70% 6.60% 3

Bond Geographic Breakdown

Weighting Category Low Category High LFRRX % Rank Quintile
US
70.42% -54.19% 95.79% 20.75% 4
Non US
28.84% 0.00% 78.18% 8.96% 2

LFRRX - Expenses

Operational Fees

LFRRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.20% 0.10% 2.62% 23.58% 4
Management Fee 0.45% 0.00% 1.00% 9.91% 1
12b-1 Fee 0.60% 0.00% 1.00% 3.95% 4
Administrative Fee 0.04% 0.03% 0.40% 12.71% 1

Sales Fees

LFRRX Fees (% of AUM) Category Low Category High LFRRX Rank Quintile
Front Load N/A 0.75% 4.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

LFRRX Fees (% of AUM) Category Low Category High LFRRX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover 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.

LFRRX Fees (% of AUM) Category Low Category High LFRRX Rank Quintile
Turnover 81.00% 13.00% 243.00% 9.91% 4

LFRRX - Distributions

Dividend Yield Analysis

LFRRX Category Low Category High LFRRX % Rank Quintile
Dividend Yield 0.4% 0.14% 1.25% 30.62% 2

Dividend Distribution Analysis

LFRRX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

LFRRX Category Low Category High LFRRX % Rank Quintile
Net Income Ratio 4.04% 1.66% 5.41% 24.06% 2

Capital Gain Distribution Analysis

LFRRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

LFRRX - Managers

Jeffrey D. Lapin

Manager

Start Date

Jul 27, 2012

Tenure

6.1

Tenure Rank

9.6%

Mr. Lapin is a Partner, Portfolio Manager and heads the Fund’s team at Lord Abbett. Mr. Lapin joined Lord Abbett in 2012 as a portfolio manager for the taxable fixed income capabilities and his prior experience includes: Managing Director & Head of European Market Credit Coverage at Post Advisory Group; Partner, Co-Portfolio Manager at Tablerock Fund Management, LLC; Analyst at Avenue Capital Management, LLC; and Research Analyst at M.J. Whitman, Inc. He received an AB from Georgetown University, a JD from Northwestern University, and an MBA from New York University. He has been in the investment business since 1997.


Robert A. Lee

Manager

Start Date

Oct 15, 2013

Tenure

4.88

Tenure Rank

12.3%

Mr. Lee is the lead portfolio manager for the taxable fixed income strategies. 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 F. Rocco

Manager

Start Date

Apr 01, 2016

Tenure

2.42

Tenure Rank

15.8%

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 M. Posner

Manager

Start Date

Apr 01, 2018

Tenure

0.42

Tenure Rank

19.0%

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


Tenure Analysis

Category Low

0.0

Category High

22.0

Category Average

6.18

Category Mode

3.7