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Lord Abbett Floating Rate R3 LRRRX

Analyst rating as of
NAV / 1-Day Return
8.39  /  0.09 %
Total Assets
5.8 Bil
Adj. Expense Ratio
1.110%
Expense Ratio
1.110%
Fee Level
Low
Longest Manager Tenure
8.59 years
Category
Bank Loan
Credit Quality / Interest Rate Sensitivity
Low / Limited
Min. Initial Investment
0
Status
Open
TTM Yield
3.62%
Effective Duration
0.40 years
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Morningstar’s Analysis

Will LRRRX outperform in future?

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Lord Abbett Eliminates CIO Role, Promotes New Director of Equities; Ratings Unchanged

Analyst Note

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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.

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