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Lord Abbett Floating Rate A (LFRAX)

9.41 Up 0.01(0.11%) Aug 20

Profile as of Jul 30, 2014Get Profile for:
Lord Abbett Floating Rate A
90 Hudson StreetJersey City NJ 07302
Phone: 888-522-2388
Fund Overview 
Category:Bank Loan
Fund Family:Lord Abbett
Net Assets:8.43B
Year-to-Date Return:1.92%
Morningstar Rating:2 stars
Fund Inception Date:Dec 31, 2007
Morningstar Style Box 
Bank Loan
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Management Information 
Jeffrey D. Lapin
Lead Manager since Jul 27, 2012
Mr. Lapin is a lead portfolio manager of the bank loans strategy and also contributes as a portfolio manager to the multi-sector fixed-income and high yield strategies. 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.
Investment Information 
Min Initial Investment:1,500
Min Initial Investment, IRA:1,500
Min Initial Investment, AIP:250
Min Subsequent Investment:N/A
Min Subsequent Investment, IRA:N/A
Min Subsequent Investment, AIP:50
LFRAX can be purchased from 78 brokerages.

Fund Summary 
The investment seeks a high level of current income. 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 senior loans. It may invest up to 25% of its total assets in senior loans made to foreign-domiciled borrowers and foreign securities, including emerging market securities. The fund may invest up to 20% of its net assets in other types of debt securities and short-term instruments. In addition, it may invest up to 10% of its net assets in derivatives.

Fund Operations 
Last Dividend (Jul 30, 2014) : 0.04
Last Cap Gain : 0.00
Annual Holdings Turnover (Aug 19, 2014) : 87.52%
Average for Category:48.59%
Fees & Expenses 
ExpenseLFRAXCategory Avg
Annual Report Expense Ratio (net):0.80%1.11%
Prospectus Net Expense Ratio:0.80%N/A
Prospectus Gross Expense Ratio:0.80%N/A
Max 12b1 Fee:0.20%N/A
Max Front End Sales Load:2.25%3.05%
Max Deferred Sales Load: N/A1.62%
3 Yr Expense Projection*:475468
5 Yr Expense Projection*:659737
10 Yr Expense Projection*:1,1931,525
* Per $10,000 invested