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Lord Abbett Floating Rate C (LARCX)

9.47 Down 0.01(0.11%) Jul 22

Profile as of Jun 29, 2014Get Profile for:
Lord Abbett Floating Rate C
90 Hudson StreetJersey City NJ 07302
Map
Phone: 888-522-2388
Fund Overview 
Category:Bank Loan
Fund Family:Lord Abbett
Net Assets:8.67B
Year-to-Date Return:1.80%
Yield:3.73%
Morningstar Rating:2 stars
Fund Inception Date:Dec 31, 2007
Morningstar Style Box 
Bank Loan
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Management Information 
Robert A. Lee
Lead Manager since Oct 15, 2013
Mr. Lee is the lead portfolio manager for the taxable fixed income strategies. Mr. Lee joined Lord Abbett in 1997 and was named Partner in 2002. His prior experience includes: Portfolio Manager and Vice President at ARM Capital Advisors; Assistant Portfolio Manager and Assistant Vice President at Kidder Peabody Asset Management; and Fixed Income Research Analyst at The First Boston Corporation. Mr. Lee received a BS from the University of Pennsylvania. He has been in the investment business since 1991.
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
LARCX can be purchased from 32 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 (Jun 29, 2014) : 0.03
Last Cap Gain : 0.00
Annual Holdings Turnover (Jul 20, 2014) : 87.52%
Average for Category:53.34%
Fees & Expenses 
ExpenseLARCXCategory Avg
Annual Report Expense Ratio (net):1.45%1.11%
Prospectus Net Expense Ratio:1.46%N/A
Prospectus Gross Expense Ratio:1.46%N/A
Max 12b1 Fee:0.86%N/A
Max Front End Sales Load:N/A3.05%
Max Deferred Sales Load: 1.00%1.62%
3 Yr Expense Projection*:462475
5 Yr Expense Projection*:797743
10 Yr Expense Projection*:1,7461,537
* Per $10,000 invested