LANFX | National Tax Free Fund Class F | Lord Abbett
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National Tax Free Fund

Summary

Summary

What is the National Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal taxation by investing primarily in investment grade municipal bonds with select exposure to lower-rated municipal bonds.

Yield

Dividend Yield 1 as of 05/12/2021  

w/o sales charge 2.64%

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

1.33%

Fund Basicsas of 03/31/2021

Total Net Assets
$4.12 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Expense Ratio
0.61%
Number of Holdings
880

Fund Expense Ratio :

0.61%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 1.58% 13.27% 6.10% 4.23% 5.63% 4.77%
Lipper Category Avg. General & Insured Municipal Debt Funds 0.94% 9.97% 5.10% 3.42% 4.51% -
Bloomberg Barclays Municipal Bond Index 0.48% 7.75% 5.33% 3.51% 4.44% 4.44%

Fund Expense Ratio :

0.61%

Fund Expense Ratio :

0.61%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 0.19% 8.84% 5.49% 4.11% 5.68% 4.70%
Lipper Category Avg. General & Insured Municipal Debt Funds -0.09% 6.74% 4.66% 3.38% 4.60% -
Bloomberg Barclays Municipal Bond Index -0.35% 5.51% 4.91% 3.49% 4.54% 4.40%

Fund Expense Ratio :

0.61%

RELATED CONTENT

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Uncovering Value in Municipal Bonds after the Recent Volatility
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Some Positive Signals from Two New Muni Bond Deals
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Sector Assets
Transportation
IDR/PCR
Healthcare/Hospital
Lease
GO Local
Special Tax
GO State
Education
Water & Sewer
Housing
Power
Pre-Refunded
VRDN
Other
Muni_Pre-Refunded
Muni_Solid_Waste/Res_Recovery
Maturity Assets
<1 Year
1-3 Years
3-5 Years
5-7 Years
7-9 Years
9-12 Years
12-15 Years
15-18 Years
18-25 Years
25-30 Years
30+ Years

Credit Quality Distribution as of 03/31/2021 View Portfolio

Rating Assets
A-2/MIG2
AAA
AA
A
BBB
< BBB
Not Rated

INVESTMENT TEAM

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

33 Years of Industry Experience

Gregory M. Shuman
Gregory M. Shuman, CFA

Managing Director, Portfolio Manager

10 Years of Industry Experience

Supported By 16 Investment Professionals with 14 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Dividend Yield 1 as of 05/12/2021  

w/o sales charge 2.64%

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

  Subsidized5 Un-Subsidized6
w/o sales charge 1.33% 1.33%

Fund Expense Ratio :

0.61%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 1.58% 13.27% 6.10% 4.23% 5.63% 4.77%
Lipper Category Avg. General & Insured Municipal Debt Funds 0.94% 9.97% 5.10% 3.42% 4.51% -
Bloomberg Barclays Municipal Bond Index 0.48% 7.75% 5.33% 3.51% 4.44% 4.44%

Fund Expense Ratio :

0.61%

Fund Expense Ratio :

0.61%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 0.19% 8.84% 5.49% 4.11% 5.68% 4.70%
Lipper Category Avg. General & Insured Municipal Debt Funds -0.09% 6.74% 4.66% 3.38% 4.60% -
Bloomberg Barclays Municipal Bond Index -0.35% 5.51% 4.91% 3.49% 4.54% 4.40%

Fund Expense Ratio :

0.61%

Year Fund Returns Bloomberg Barclays Municipal Bond Index
2020 4.98% 5.21%
2019 9.39% 7.54%
2018 0.91% 1.28%
2017 7.18% 5.45%
2016 0.36% 0.25%
2015 3.47% 3.30%
2014 12.94% 9.05%
2013 -6.03% -2.55%
2012 13.87% 6.78%
2011 11.19% 10.70%
2010 2.28% -
2009 24.77% -
2008 -15.25% -
2007 -1.00% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 0.19% - - - 1.77%
2020 -3.36% 3.36% 1.59% 3.46% 4.98%
2019 3.49% 2.85% 2.07% 0.67% 9.39%
2018 -1.10% 1.29% -0.32% 1.06% 0.91%
2017 1.89% 2.13% 1.70% 1.27% 7.18%
2016 2.07% 3.53% -0.02% -5.01% 0.36%
2015 1.26% -1.20% 1.38% 2.01% 3.47%
2014 4.75% 3.62% 2.21% 1.80% 12.94%
2013 0.61% -4.71% -2.00% 0.03% -6.03%
2012 4.79% 2.77% 3.81% 1.85% 13.87%
2011 -0.08% 5.06% 3.44% 2.40% 11.19%
2010 2.27% 1.59% 4.54% -5.84% 2.28%
2009 7.37% 5.79% 11.06% -1.10% 24.77%
2008 -1.88% 0.47% -6.06% -8.49% -15.25%
2007 - - - -1.00% -1.00%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Sector Assets
Transportation
IDR/PCR
Healthcare/Hospital
Lease
GO Local
Special Tax
GO State
Education
Water & Sewer
Housing
Power
Pre-Refunded
VRDN
Other
Muni_Pre-Refunded
Muni_Solid_Waste/Res_Recovery
Maturity Assets
<1 Year
1-3 Years
3-5 Years
5-7 Years
7-9 Years
9-12 Years
12-15 Years
15-18 Years
18-25 Years
25-30 Years
30+ Years
State Assets
NY
CA
IL
NJ
PA
TX
FL
OH
GA
AL
CT
LA
MD
Puerto Rico
AZ
MA
CO
MO
MI
KY
VA
TN
HI
NE
IN
MN
NC
SC
WI
IA
DC
NH
NV
AR
OK
OR
WY
NM
WA
ME
MT
VT
UT
WV
OT
Other U.S. Territories

Credit Quality Distribution as of 03/31/2021

Rating Assets
A-2/MIG2
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Positioning as of 03/31/2021

  • Relative to its benchmark, the Bloomberg Barclays Municipal Bond Index, the portfolio is underweight bonds in the 1- to 15-year maturity range, while maintaining an overweight to longer maturity bonds.
  • The Fund is overweight the industrial development sector which we believe stands to benefit from better-than-expected corporate earnings and the Federal Reserve’s support for the corporate bond market.
  • The strong underlying credit quality of the municipal market and the ability of issuers in different sectors to respond to the challenges posed by the economic damage caused by the virus supported the recovery since the market sell-off.
  • On top of the overall strength displayed last year, municipalities are receiving significant support from the U.S. government under the American Rescue Plan (ARP) signed into law by President Joe Biden on March 11, 2021.
  • We expect these funds to go beyond recovery and likely prove stimulative. Further, as the economy continues to reopen, and consumer confidence continues to improve, we believe investors’ perceptions of higher credit quality and lower default risk for the broad municipal market will strengthen.

Portfolio Details as of 03/31/2021

Total Net Assets
$4.12 B
Number of Issues
880
Average Coupon
4.5%
Average Effective Maturity
19.8 Years
Average Effective Duration
7.08 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 05/12/2021
$0.109
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2021 $0.02659 $12.09
Daily Daily 03/31/2021 $0.02644 $11.95
Daily Daily 02/28/2021 $0.02776 $11.88
Daily Daily 01/31/2021 $0.02829 $12.15

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

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

Fees & Expenses

Fees & Expenses

Expense Ratioas of 04/30/2021

0.61%

Fund Documents

Fund Documents

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Class F - The inception date for Class F shares is September 28, 2007. The performance quotations for Class F are based on the following methods of calculation: (a) for periods prior to September 28, 2007, a restated figure is used based on the Fund's Class I performance, which does not have a 12b-1 fee, adjusted to reflect the Rule 12b-1 rate differential between Class I and Class F; and (b) for periods after September 28, 2007, actual Class F performance is used reflecting all charges and fees applicable to Class F shares.

Class F shares are available only to eligible fee-based advisory programs and certain registered investment advisers. For additional information, see the Fund’s current prospectus.

The Bloomberg Barclays Municipal Bond Index a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market.  Bonds must be rated investment-grade (Baa3/BBB- or higher) by at least two ratings agencies.  They must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate, have a dated-date after December 31, 1990, and must be at least one year from their maturity date.

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