About LGRYX
Lord Abbett Investment Grade Floating Rate Fund Class I is a mutual fund designed to provide a high level of current income through investments in high-quality, investment grade debt and fixed income securities. It primarily focuses on floating rate instruments, including collateralized loan obligations (CLOs), asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), bank loans, investment grade corporates, U.S. government-related securities, mortgage-backed securities (MBS), sovereign debt, and limited high yield corporates. With a diversified portfolio of approximately 660 holdings, total net assets of $3.40 billion, an average effective duration of 0.23 years, average life of 3.2 years, and an average yield to maturity of 5.72%, the fund emphasizes low interest rate sensitivity and monthly dividend distributions. Notable top holdings include United States Treasury Note/Bond and various CLOs from managers like Neuberger Berman and Silver Point. Launched in May 2023, it plays a key role in fixed income markets by offering income-oriented investors exposure to floating rate assets that adjust with benchmark rates, aiding in portfolio diversification amid varying interest rate environments.
Fund Family Lord Abbett
Category Loan Participation
Performance Rating High
Risk Rating High
Stock Exchange Nasdaq
Ticker Symbol LGRYX
Share Class Class I
Index Index is not provided by Management Company
LGRYX had a total return of 4.61% in the past year, including dividends. Since the fund's
inception, the average annual return has been 6.34%.
