LAUFX | Income Fund Class F | Lord Abbett
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Income Fund

Summary

Summary

What is the Income Fund?

The Fund seeks to deliver a high level of current income by investing primarily in a wide range of investment grade fixed income securities. 
 

FOCUS ON CORPORATE CREDIT

The investment team focuses on corporate bonds, diversified with select mortgage, high yield and non-U.S. securities to provide the opportunity for attractive total return.

BUILT ON INTENSIVE RESEARCH

The strategy employs quantitative and fundamental research to drive sector rotation and security selection.

IDENTIFY INCOME

The investment process identifies fixed-income sectors and securities with attractive valuations to provide the opportunity to deliver income.

 

Yield

Dividend Yield 1 as of 05/12/2021  

w/o sales charge 3.22%

30-Day Standardized Yield 2 as of 04/30/2021  

2.27%

Fund Basicsas of 03/31/2021

Total Net Assets
$2.87 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Expense Ratio
0.66%
Number of Holdings
465

Fund Expense Ratio :

0.66%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -1.26% 11.40% 6.28% 5.36% 5.14% 6.35%
Lipper Category Avg. Corporate Debt Funds BBB-Rated -3.01% 5.43% 6.65% 4.67% 4.80% -
Bloomberg Barclays U.S. Credit Bond Index -3.44% 4.25% 6.65% 4.63% 4.77% 5.38%

Fund Expense Ratio :

0.66%

Fund Expense Ratio :

0.66%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -2.52% 15.84% 5.57% 5.55% 5.20% 6.29%
Lipper Category Avg. Corporate Debt Funds BBB-Rated -4.03% 9.49% 5.95% 4.75% 4.86% -
Bloomberg Barclays U.S. Credit Bond Index -4.45% 7.88% 5.95% 4.67% 4.83% 5.33%

Fund Expense Ratio :

0.66%

Type Assets
Investment Grade Corporate
High Yield Corporate
U.S. Government Related
ABS
Bank Loans
CMBS
MBS
Sovereign
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 03/31/2021 View Portfolio

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

INVESTMENT TEAM

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

Partner & Portfolio Manager

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Managing Director, Portfolio Manager

17 Years of Industry Experience

Eric P. Kang
Eric P. Kang

Portfolio Manager

21 Years of Industry Experience

Supported By 62 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 05/12/2021  

w/o sales charge 3.22%

30-Day Standardized Yield 2 as of 04/30/2021  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.27% 2.27%

Fund Expense Ratio :

0.66%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -1.26% 11.40% 6.28% 5.36% 5.14% 6.35%
Lipper Category Avg. Corporate Debt Funds BBB-Rated -3.01% 5.43% 6.65% 4.67% 4.80% -
Bloomberg Barclays U.S. Credit Bond Index -3.44% 4.25% 6.65% 4.63% 4.77% 5.38%

Fund Expense Ratio :

0.66%

Fund Expense Ratio :

0.66%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -2.52% 15.84% 5.57% 5.55% 5.20% 6.29%
Lipper Category Avg. Corporate Debt Funds BBB-Rated -4.03% 9.49% 5.95% 4.75% 4.86% -
Bloomberg Barclays U.S. Credit Bond Index -4.45% 7.88% 5.95% 4.67% 4.83% 5.33%

Fund Expense Ratio :

0.66%

Year Fund Returns Bloomberg Barclays U.S. Credit Bond Index
2020 8.05% 9.35%
2019 13.02% 13.80%
2018 -2.60% -2.11%
2017 7.03% 6.18%
2016 8.84% 5.63%
2015 -3.00% -0.77%
2014 7.32% 7.53%
2013 0.37% -2.01%
2012 13.00% 9.37%
2011 6.26% 8.35%
2010 10.94% -
2009 30.57% -
2008 -10.28% -
2007 6.86% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 -2.52% - - - -1.49%
2020 -9.08% 11.04% 3.00% 3.91% 8.05%
2019 5.22% 3.57% 2.39% 1.29% 13.02%
2018 -1.47% -0.74% 0.70% -1.11% -2.60%
2017 2.36% 1.96% 1.62% 0.92% 7.03%
2016 3.09% 4.38% 2.77% -1.59% 8.84%
2015 1.85% -1.70% -2.07% -1.06% -3.00%
2014 3.74% 3.66% -0.51% 0.31% 7.32%
2013 1.23% -3.50% 0.59% 2.14% 0.37%
2012 4.16% 1.30% 4.72% 2.26% 13.00%
2011 2.06% 2.38% -0.42% 2.13% 6.26%
2010 3.40% 1.84% 5.42% -0.06% 10.94%
2009 2.72% 13.38% 9.63% 2.27% 30.57%
2008 0.82% 0.59% -6.36% -5.53% -10.28%
2007 1.21% -0.80% 2.80% 3.53% 6.86%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
Investment Grade Corporate
High Yield Corporate
U.S. Government Related
ABS
Bank Loans
CMBS
MBS
Sovereign
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 03/31/2021

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

Portfolio Positioning as of 03/31/2021

  • Over the quarter, the most notable change in the Fund’s composition was a reduction in the allocation to investment grade corporate credit. With those proceeds, we modestly increased exposure to bond sectors that we believe are better poised to benefit from the re-opening of the economy – such as commercial mortgage-backed securities (CMBS) and collateralized loan obligations (CLOs).
  • We maintained a meaningful off-benchmark allocation within high yield, as we believe the asset class has a strong risk-reward profile and provides attractive relative value.
  • We are investing in the essential and nonessential industries that are benefitting from a continued reopening of the economy. The magnitude and scale of this global pandemic has accelerated some secular shifts which are likely to remain even with access of the vaccine. As such, we remain positive on lower rated credits and are focusing on reopening sectors, such as air lessors, autos, metals, travel & leisure, and energy.
  • While there are short-term volatility risks stemming from COVID-19, we believe economic fundamentals will have an upward trajectory in 2021 as vaccinations continue to lead to a gradual reopening of the economy and latent demand, dormant services, and consumer spending all begin to normalize to pre-pandemic levels. With the Fed’s new approach to monetary policy, an anchored short-end of the yield curve, negative real yields, and very low volatility, the demand for risk can be very strong.

Portfolio Details as of 03/31/2021

Total Net Assets
$2.87 B
Number of Issues
465
Average Coupon
3.85%
Average Life
10.11 Years
Average Maturity
10.11 Years
Average Effective Duration
7.22 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 05/12/2021
$0.031
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2021 $0.00791 $2.96
Daily Daily 03/31/2021 $0.00788 $2.93
Daily Daily 02/28/2021 $0.00786 $2.98
Daily Daily 01/31/2021 $0.00812 $3.02

Upcoming Dividend Payment Dates

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

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.0038 $0.0108 $0.0146 $2.87

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/16/2021 12/17/2021

Fees & Expenses

Fees & Expenses

Expense Ratioas of 04/30/2021

0.66%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
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The Bloomberg Barclays U.S. Credit Bond Index is the U.S. Credit component of the U.S. Government/Credit index. The index includes publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity, and quality requirements. To qualify, bonds must be SEC-registered. The index includes both corporate and non-corporate sectors. The corporate sectors are Industrial, Utility, and Finance, which include both U.S. and non-U.S. corporations. The non-corporate sectors are Sovereign, Supranational, Foreign Agency, and Foreign Local Government. All returns are market value-weighted inclusive of accrued interest.

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