LAPTX | Core Plus Bond Fund Class R2 | Lord Abbett
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Core Plus Bond Fund

Summary

Summary

What is the Core Plus Bond Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing in a wide range of fixed income securities, including U.S. investment grade and high yield corporate bonds, mortgage-backed, asset-backed, and government-related securities, with select allocations to non-U.S. (including emerging market) debt securities.

 

Fund Basicsas of 01/29/2021

Total Net Assets
$294.83 M
Inception Date
Dividend Frequency
-
Number of Holdings
612
Type Assets
Investment Grade Corporate
High Yield Corporate
ABS
MBS
U.S. Government Related
CMBS
Sovereign
Bank Loans
Other
Cash
Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

Credit Quality Distribution as of 01/29/2021 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Investment Team

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner & Portfolio Manager

22 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

Supported By 63 Investment Professionals with 17 Years Avg. Industry Experience

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Performance

Performance

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
High Yield Corporate
ABS
MBS
U.S. Government Related
CMBS
Sovereign
Bank Loans
Other
Cash
Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

Credit Quality Distribution as of 01/29/2021

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Portfolio Positioningas of 9/30/2020

  • We modestly increased the Fund’s allocation to investment grade corporates and U.S. Treasuries.
  • We decreased the Fund’s allocation to asset-backed securities (ABS) over the quarter, as the asset class has experienced significant spread tightening and we found attractive relative value elsewhere, however we maintained our overweight position to the sector. We favor high quality ABS that are backed by credit cards and auto loans, and we have avoided areas of the market that have been more directly exposed to the impact of the coronavirus (such as container and aircraft ABS).
  • We feel valuations are attractive compared to underlying economic fundamentals.  The Fed continues to provide an environment of significantly low volatility, negative real yields, and support to maintain market liquidity.

Portfolio Details as of 01/29/2021

Total Net Assets
$294.83 M
Number of Issues
612
Average Coupon
3.61%
Average Life
6.06 Years
Average Maturity
6.06 Years
Average Effective Duration
5.75 Years
Average Modified Duration
6.41 Years

Dividends & Cap Gains

Dividends & Cap Gains

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
03/01/2021 03/31/2021 03/31/2021
04/01/2021 04/30/2021 04/30/2021
05/01/2021 05/31/2021 05/31/2021
06/01/2021 06/30/2021 06/30/2021
07/01/2021 07/31/2021 07/31/2021
08/01/2021 08/31/2021 08/31/2021
09/01/2021 09/30/2021 09/30/2021
10/01/2021 10/31/2021 10/31/2021
11/01/2021 11/30/2021 11/30/2021
12/01/2020 12/31/2021 12/31/2021

Yield

Yield

Fees & Expenses

Fees & Expenses

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Publish Date:11/03/2015

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Class R2 - The performance quotations for Class R2 reflect the following methods of calculation: (a) for periods prior to the inception date for Class R2, a restated figure is used based on the Fund's Class A performance, excluding the effect of Class A's maximum sales charge (which does not apply to Class R2) adjusted to reflect the Rule 12b-1 rate differential between Class A and Class R2, which has a higher 12b-1 fee than Class A; and (b) for periods after the inception date for Class R2, actual Class R2 performance is used reflecting all charges and fees applicable to Class R2 shares. Hypothetical performance data for Class R2, as measured from since inception of the Fund using the methodology described above, is not available if the Class A inception date is equal or greater than ten years old. Please refer to the Class R2 performance information for the inception date for Class R2. Please refer to the Class A performance information for the inception date for Class A.

Class R2 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

The Barclays U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. 

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