LDLRX | Short Duration Income Fund Class R3 | Lord Abbett
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Short Duration Income Fund

Summary

Summary

What is the Short Duration Income Fund?

The Fund seeks to deliver a high level of current income consistent with the preservation of capital by investing in a variety of short maturity debt securities including, corporate bonds, U.S. government securities, and mortgage- and other asset-backed debt securities.
 

EXPERIENCED, TENURED TEAM

Managed through collaboration among 40+ investment professionals in portfolio management, credit research, and trading.

STRATEGIC, FLEXIBLE DESIGN

Pursues an agile, multi-sector approach designed to provide a higher yield than a typical short duration strategy, and a lower duration than a traditional core bond strategy.

STRONG PERFORMANCE

Has offered a track record of solid performance in many market environments. 

Yield

Dividend Yield 1 as of 11/27/2020  

w/o sales charge 2.18%

30-Day Standardized Yield 2 as of 10/31/2020  

1.06%

Fund Basicsas of 10/30/2020

Total Net Assets
$55.37 B
Inception Date
07/21/2009
Dividend Frequency
Monthly
Fund Expense Ratio
0.90%
Number of Holdings
1581

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

Credit Quality Distribution as of 10/30/2020 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

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

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

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

Contact a Representative

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Performance

Performance

Dividend Yield 1 as of 11/27/2020  

w/o sales charge 2.18%

30-Day Standardized Yield 2 as of 10/31/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.06% 1.06%
Year Fund Returns ICE BofA 1-3 Year U.S. Corporate Index
2019 4.86% 5.43%
2018 1.17% 1.62%
2017 1.99% 1.91%
2016 3.47% 2.39%
2015 0.37% 1.01%
2014 1.21% 1.19%
2013 1.55% 1.78%
2012 6.11% 4.49%
2011 2.88% 1.76%
2010 6.06% 4.86%
2009 16.79% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -5.25% 5.55% 1.34% - 2.20%
2019 1.86% 1.59% 0.83% 0.51% 4.86%
2018 -0.10% 0.19% 0.67% 0.41% 1.17%
2017 0.88% 0.62% 0.60% -0.12% 1.99%
2016 0.94% 1.85% 0.68% -0.03% 3.47%
2015 1.12% 0.22% -0.47% -0.49% 0.37%
2014 0.84% 0.85% -0.23% -0.25% 1.21%
2013 0.84% -0.89% 0.65% 0.95% 1.55%
2012 2.36% 0.50% 2.22% 0.90% 6.11%
2011 1.01% 0.80% -0.69% 1.75% 2.88%
2010 2.15% 1.01% 2.53% 0.25% 6.06%
2009 - 5.48% 4.68% 1.70% 16.79%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

Credit Quality Distribution as of 10/30/2020

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

Portfolio Positioning as of 9/30/2020

  • We increased the Fund’s allocation to U.S. Treasuries in the first two months of the quarter as spreads on riskier assets generally narrowed and we continue to prioritize liquidity in the portfolio.
  • During the weakness in September, while the risk exposure remained generally unchanged, we increased the Fund’s market weight in short-term high yield bonds with near term calls, as we found attractive relative value in specific issues within auto and telecom sectors. Within autos, we added to U.S. auto-makers as we continue to favor U.S. consumer strength and see tailwinds from the involvement from the U.S. Federal Reserve.
  • We decreased the Fund’s allocation to CMBS over the quarter and further improved the quality of the position. As spreads continued to repair, we trimmed the portfolio’s position as lingering concerns regarding the fundamentals of lower quality retail and hotel commercial real estate remain.
  • The allocation to asset-backed securities (ABS) decreased marginally over the quarter as spreads tightened in July and August and high-quality assets reached full valuations. However, we modestly added back to the sector in September.

Portfolio Details as of 10/30/2020

Total Net Assets
$55.37 B
Number of Issues
1581
Average Coupon
2.96%
Average Life
2.53 Years
Average Maturity
2.53 Years
Average Effective Duration
2.13 Years