Lord Abbett Floating Rate’s approach is thoughtful and liquidity-focused, but its longtime lead manager’s sudden departure justifies a Morningstar Medalist Rating downgrade to Neutral from Bronze across the strategy’s cheaper share classes, while its pricier share classes retain Neutral ratings.
Lord Abbett Floating Rate C LARCX
- NAV / 1-Day Return 8.19 / +0.03 %
- Total Assets 5.0 Bil
-
Adj. Expense Ratio
- Expense Ratio 1.430%
- Distribution Fee Level Low
- Share Class Type Level Load
- Category Bank Loan
- Credit Quality / Interest Rate Sensitivity Low/Limited
- Min. Initial Investment 1,500
- Status Open
- TTM Yield 7.70%
- Effective Duration 0.24 years
USD | NAV as of Mar 18, 2024 | 1-Day Return as of Mar 18, 2024, 10:18 PM GMT+0
Morningstar’s Analysis LARCX
Will LARCX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 6.8
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
---|---|---|---|
Barclays Capital | 5.29 | 265.0 Mil | — |
Barclays Capital | 2.54 | 127.0 Mil | — |
Invesco Senior Loan ETF | 1.22 | 61.2 Mil | — |
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Aadvantage Loyalty Ip Ltd | 0.60 | 29.9 Mil | Corporate |
Acbl Hldg Pfd 144A 0% | 0.58 | 28.9 Mil | Corporate |