About LRRKX
Lord Abbett Floating Rate Fund Class R4 is a mutual fund that seeks a high level of current income. It invests primarily in floating-rate loans, known as bank loans, which provide interest payments that adjust periodically based on a short-term benchmark rate such as LIBOR. The fund allocates at least 80% of its net assets to these senior loans, supplemented by high yield bonds, collateralized loan obligations (CLOs), and smaller portions in equity, investment grade bonds, and other securities. With a focus on below-investment-grade instruments, the portfolio emphasizes short average effective duration and maturity to help mitigate interest rate risk. Distributions occur monthly, supporting investors pursuing income in leveraged loan markets. The actively managed portfolio, featuring hundreds of holdings across various maturities and credit qualities predominantly in BB, B, and lower-rated categories, plays a key role in fixed income strategies aiming for yield in floating-rate environments. Founded in 2015 and managed by Lord Abbett, it caters to retirement plans and institutional investors through its R4 share class structure.
Fund Family Lord Abbett
Category Bank Loan
Performance Rating Above Average
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol LRRKX
Share Class Class R4
Index Index is not available on Lipper Database
LRRKX had a total return of 5.95% in the past year, including dividends.
Since the fund's inception, the average annual return has been 3.27%.
