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Morningstar

Lord Abbett Floating Rate R5 LRRTX

Morningstar Medalist Rating
Medalist Rating as of | See Lord Abbett Investment Hub
  • NAV / 1-Day Return 8.18  /  +0.02 %
  • Total Assets 5.0 Bil
  • Adj. Expense Ratio
    0.600%
  • Expense Ratio 0.600%
  • Distribution Fee Level Low
  • Share Class Type Retirement, Large
  • Category Bank Loan
  • Credit Quality / Interest Rate Sensitivity Low/Limited
  • Min. Initial Investment —
  • Status Open
  • TTM Yield 8.60%
  • Effective Duration 0.35 years

USD | NAV as of Apr 16, 2024 | 1-Day Return as of Apr 16, 2024, 12:16 AM GMT+0

Morningstar’s Analysis LRRTX

Will LRRTX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable LRRTX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the LRRTX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of LRRTX’s parent organization’s priorities and whether they’re in line with investors’ interests.

An abrupt lead manager departure.

Senior Analyst R.J. D'Ancona

R.J. D'Ancona

Senior Analyst

Summary

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.

by R.J. D'Ancona
Rated on Published on

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Portfolio Holdings LRRTX

More LRRTX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 6.5
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Barclays Capital

5.89 297.0 Mil
Cash and Equivalents

Barclays Capital

2.34 118.0 Mil
Cash and Equivalents

Invesco Senior Loan ETF

1.22 61.6 Mil
—

Cloud Software Group Inc

0.76 38.2 Mil
Corporate

Jane Street Group Llc

0.66 33.2 Mil
Corporate

Aadvantage Loyalty Ip Ltd

0.59 29.7 Mil
Corporate

Acbl Hldg Pfd 144A 0%

0.57 28.9 Mil
Corporate

Mcafee Corp

0.56 28.1 Mil
Corporate

SPDR Blackstone Senior Loan ETF

0.54 27.1 Mil
—

Mh Sub I Llc

0.52 26.5 Mil
Corporate