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A Closer Look at Two Similar Bank-Loan Funds

Lord Abbett Floating Rate and Eaton Vance Floating Rate are both great medalist funds, but team tenure and process distinguish them.

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Kenneth Oshodi: Lord Abbett Floating Rate and Eaton Vance Floating Rate are two Bronze-rated bank-loan funds here at Morningstar. Both are quite good, but different in many ways.

To start, Eaton Vance has one of the longest-tenured management teams in the category. Scott Page and Craig Russ each have decades of experience in the bank-loan industry, and Page has been the manager on this fund since its January 2001 inception. Lord Abbett's management team, on the other hand, is less experienced. Jeffrey Lapin began leading this effort in July 2012; his comanagers Robert Lee and Steven Rocco joined him in October 2013 and April 2016, respectively.

Kenneth Oshodi does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.