Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
Lord Abbett Floating Rate Fund outperformed its benchmark by 87 basis points in Q2 2026, driven by strong CCC-rated credit selection in Consumer Durables and Telecommunications. The manager remains constructive on leveraged loans despite rising defaults, targeting high-carry opportunities amid hawkish Fed policy and resilient US growth. Portfolio maintains balanced sector exposure with selective overweights to Utilities, Materials, and Telecom while monitoring inflation and labor market risks.
Full Quick Take
Lord Abbett Floating Rate Fund outperformed its benchmark by 87 basis points in Q2 2026, driven by strong CCC-rated credit selection in Consumer Durables and Telecommunications. The manager remains constructive on leveraged loans despite rising defaults, targeting high-carry opportunities amid hawkish Fed policy and resilient US growth. Portfolio maintains balanced sector exposure with selective overweights to Utilities, Materials, and Telecom while monitoring inflation and labor market risks.
The Fund returned +2.26% in 2Q25, slightly lagging its benchmark, while capitalizing on April's volatility to rotate into higher-rated BB loans to protect against redemption risks.
Full Quick Take
The Fund returned +2.26% in 2Q25, slightly lagging its benchmark, while capitalizing on April's volatility to rotate into higher-rated BB loans to protect against redemption risks.
