About IGRCX
Lord Abbett Floating Rate Fund Class C is a mutual fund designed to seek a high level of current income through investments in high-quality, investment-grade floating rate debt securities. These securities, including corporate loans, collateralized loan obligations (CLOs), and auto receivables trusts, feature interest rates that adjust periodically based on benchmarks like SOFR, helping mitigate interest rate risk. With an average effective duration of 0.23 years and average life of 3.2 years, the fund maintains a short duration profile, holding approximately 660 issues across diverse sectors such as automotive financing, consumer loans, and collateralized debt. As of late 2025, it reported total net assets of $3.40 billion, an average yield to maturity of 5.72%, and a distribution yield of 4.89%, reflecting its income-oriented strategy. The fund's net expense ratio stands at 1.31%, positioning it as a vehicle for investors pursuing stable income from floating rate instruments within the broader fixed-income market.
Fund Family Lord Abbett
Category Ultrashort Bond
Performance Rating High
Risk Rating High
Stock Exchange NASDAQ
Ticker Symbol IGRCX
Share Class Class C
Index Index is not provided by Management Company
IGRCX had a total return of 4.51% in the past year, including dividends.
Since the fund's inception, the average annual return has been 6.03%.
