LDLVX | Short Duration Income Fund Class R6 | 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 09/30/2020  

w/o sales charge 2.93%

30-Day Standardized Yield 2 as of 08/31/2020  

1.80%

Fund Basicsas of 08/31/2020

Total Net Assets
$54.42 B
Inception Date
06/30/2015
Dividend Frequency
Monthly
Fund Expense Ratio
0.34%
Number of Holdings
1593

Fund Expense Ratio :

0.34%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 1.53% 2.43% 2.97% 3.03% 3.09% -
Lipper Category Avg. Short Investment Grade Debt Funds - - - - - -
ICE BofA 1-3 Year U.S. Corporate Index - - - - - -

Fund Expense Ratio :

0.34%

Fund Expense Ratio :

0.34%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 1.53% 2.43% 2.97% 3.03% 3.09% -
Lipper Category Avg. Short Investment Grade Debt Funds - - - - - -
ICE BofA 1-3 Year U.S. Corporate Index - - - - - -

Fund Expense Ratio :

0.34%

RELATED CONTENT

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Type Assets
Investment Grade Corporate
ABS
CMBS
U.S. Government Related
High Yield Corporate
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 08/31/2020 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-Director of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Director of Taxable Fixed Income

29 Years of Industry Experience

Supported By 61 Investment Professionals with 16 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 09/30/2020  

w/o sales charge 2.93%

30-Day Standardized Yield 2 as of 08/31/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.80% 1.80%

Fund Expense Ratio :

0.34%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 1.53% 2.43% 2.97% 3.03% 3.09% -
Lipper Category Avg. Short Investment Grade Debt Funds - - - - - -
ICE BofA 1-3 Year U.S. Corporate Index - - - - - -

Fund Expense Ratio :

0.34%

Fund Expense Ratio :

0.34%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 1.53% 2.43% 2.97% 3.03% 3.09% -
Lipper Category Avg. Short Investment Grade Debt Funds - - - - - -
ICE BofA 1-3 Year U.S. Corporate Index - - - - - -

Fund Expense Ratio :

0.34%

Year Fund Returns ICE BofA 1-3 Year U.S. Corporate Index
2019 5.70% 5.43%
2018 1.50% 1.62%
2017 2.56% 1.91%
2016 4.29% 2.39%
2015 0.93% 1.01%
2014 1.76% 1.19%
2013 1.88% 1.78%
2012 6.90% 4.49%
2011 3.41% 1.76%
2010 6.65% 4.86%
2009 17.29% -
2008 -0.37% -
2007 6.32% -
2006 3.97% -
2005 1.34% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -5.36% 5.71% 1.48% - 1.53%
2019 2.24% 1.73% 0.73% 0.89% 5.70%
2018 -0.20% 0.57% 0.57% 0.56% 1.50%
2017 0.78% 0.76% 0.74% 0.25% 2.56%
2016 1.31% 1.76% 1.05% 0.11% 4.29%
2015 1.26% 0.35% -0.33% -0.35% 0.93%
2014 0.97% 0.99% -0.09% -0.12% 1.76%
2013 0.76% -0.76% 1.01% 0.87% 1.88%
2012 2.49% 0.86% 2.14% 1.25% 6.90%
2011 0.92% 1.15% -0.56% 1.88% 3.41%
2010 2.30% 1.15% 2.45% 0.61% 6.65%
2009 4.15% 5.63% 4.74% 1.80% 17.29%
2008 1.23% 1.41% -1.75% -1.22% -0.37%
2007 1.58% 0.19% 2.11% 2.31% 6.32%
2006 0.38% 0.38% 2.30% 0.87% 3.97%
2005 -0.37% 1.48% -0.14% 0.37% 1.34%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
Investment Grade Corporate
ABS
CMBS
U.S. Government Related
High Yield Corporate
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 08/31/2020

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

Portfolio Positioning as of 6/30/2020

  • Over the quarter, we reduced the portfolio’s allocation to securitized products – both ABS and CMBS. We sold a modest amount of ABS as we believed investment grade corporate credit had better relative value after the first quarter market selloff. Regarding CMBS, we reduced the portfolio’s position to become more in line with the overall market and allocate to areas of the market which we believe would continue to receive more direct support from the Fed.
  • We used the sales of securitized products and increased our allocation to corporate credit. Notably, we added to technology, healthcare, and consumer discretionary investment grade corporate bonds. We also began to add modestly to high yield at the end of the quarter, as we believe the asset class may continue to benefit from the easing of restrictions, lower rates, and a search-for-yield environment.
  • We believe valuations currently are fair given an expected resumption of economic activity in 2021, albeit a slow and modest one. We believe that the environment that the Fed has created of low volatility and perpetually lower rates will be supportive of a search-for-yield environment where spread valuations can tighten further.

Portfolio Details as of 08/31/2020

Total Net Assets
$54.42 B
Number of Issues
1593
Average Coupon
2.95%
Average Life
2.48 Years
Average Maturity
2.48 Years
Average Effective Duration
1.96 Years