Lord Abbett Floating Rate High Income Fund
LFHIX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- IPO Date
- Apr 17, 2023
- Similar Companies
- Business
- Lord Abbett Floating Rate High Income Fund (LFHIX) is a mutual fund managed by Lord, Abbett & Co. LLC that seeks a high level of current income by investing primarily in floating or adjustable rate instruments, including senior loans, high yield bonds, collateralized loan obligations (CLOs), and derivatives that provide floating rate exposure; it may allocate up to 20% of net assets to other debt securities, short-term instruments, equity, investment grade bonds, and cash equivalents. The fund's portfolio, comprising approximately 469 holdings with an average yield to maturity of 7.72% and average maturity of 4.31 years as of late 2025, emphasizes below-investment-grade securities across sectors such as telecommunications, healthcare, manufacturing, financial services, consumer cyclical, and transportation. Class I shares, targeted at institutional investors with a $1 million minimum initial investment, feature a net expense ratio of 0.60% and monthly dividend distributions. Incepted on December 31, 2007, the fund forms part of Lord Abbett's fixed income offerings, with total net assets of $4.55 billion as of November 2025; Lord Abbett, founded in 1929 and headquartered in Jersey City, New Jersey, following a 2024 relocation to 30 Hudson Street, manages $244 billion in assets as of September 2025, including substantial fixed income strategies, and operates globally with offices in Dubai, Dublin, London, Montevideo, Singapore, Tokyo, and Zurich. Recent developments include portfolio adjustments with new positions in term loans such as Rocket Software Inc., EFS Cogen Holdings I LLC, and Red Planet Borrower LLC as of late 2024, alongside quarterly performance commentaries noting positive returns amid Federal Reserve policy shifts in 2025; the parent firm participated in a $12 million Series A funding round for fintech platform IMTC in December 2025 as a strategic investor to enhance fixed income portfolio management capabilities, and announced plans to enter US CLO management in 2025 leveraging its $11 billion leveraged loan strategy.