Effective September 1, Robert Lee no longer serves as chief investment officer at Lord Abbett as the firm has eliminated that position. Lee recently returned to portfolio-management duties as part of reforms led by managing partner Doug Sieg to get the firm’s top personnel refocused on investing. The move officially recognizes Lee’s return to managing money full time. The news does not affect any of his management responsibilities. He’ll join Steven Rocco as co-head of the firm’s taxable fixed-income division.
Lord Abbett Floating Rate R3 LRRRX
NAV / 1-Day Return
8.39
/
0.09
%
Total Assets
5.8 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
1.110%
Expense Ratio
1.110%
Fee Level
Low
Longest Manager Tenure
8.59
years
Category
Bank Loan
Credit Quality / Interest Rate Sensitivity
Low / LimitedMin. Initial Investment
0
Status
Open
TTM Yield
3.62%
Effective Duration
0.40
years
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will LRRRX 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 LRRRX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the LRRRX 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 LRRRX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Lord Abbett Eliminates CIO Role, Promotes New Director of Equities; Ratings Unchanged
