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Ultra Short Bond Fund

Summary

Summary

What is the Ultra Short Bond Fund ?

The Fund seeks to deliver current income consistent with the preservation of capital by investing in a broad range of investment grade ultra-short fixed income and money market securities with a weighted average duration of less than one year.

 

Yield

7 Day Yield 1,4 as of 07/31/2020  

w/o sales charge 0.84%

30-Day Standardized Yield 2 as of 06/30/2020  

1.11%

Fund Basicsas of 06/30/2020

Total Net Assets
$19.67 B
Inception Date
10/17/2016
Dividend Frequency
Monthly
Fund Expense Ratio
0.30%
Number of Holdings
531

Fund Expense Ratio :

0.30%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 1.02% 2.00% 2.25% - - 2.09%
Lipper Category Avg. Ultra-Short Obligations Funds - - - - - -
ICE BofA U.S. Treasury Bill Index - - - - - -

Fund Expense Ratio :

0.30%

Fund Expense Ratio :

0.30%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 0.84% 2.04% 2.24% - - 2.09%
Lipper Category Avg. Ultra-Short Obligations Funds 0.62% 1.80% 1.93% - - -
ICE BofA U.S. Treasury Bill Index 0.67% 1.71% 1.80% - - 1.56%

Fund Expense Ratio :

0.30%

RELATED CONTENT

Short Credit: Our Answers to Investors’ Top Questions
March 18, 2020

Lord Abbett experts offer their perspective on key topics for investors in short duration and ultra-short bonds.

Short Credit: Our Answers to Investors’ Top Questions
March 18, 2020

Lord Abbett experts offer their perspective on key topics for investors in short duration and ultra-short bonds.

The Lord Abbett Ultra Short Bond Fund: An Update
March 18, 2020

How have we positioned the Fund during the current market volatility?

Type Assets
Corp Floating
Commercial Paper
ABS
Corp Fixed Rate
U.S. Government Related
Cash
Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years

Credit Quality Distribution as of 06/30/2020 View Portfolio

Rating Assets
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB
<BBB

INVESTMENT TEAM

Yoana N. Koleva
Yoana N. Koleva, CFA

Managing Director & Portfolio Manager

17 Years of Industry Experience

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

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

Supported By 61 Investment Professionals with 16 Years Avg. Industry Experience

Your Representative

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Performance

Performance

NAV HISTORICAL PRICES

Date Net Asset Value
Year Fund Returns ICE BofA U.S. Treasury Bill Index
2019 2.99% 2.35%
2018 2.10% 1.88%
2017 1.60% 0.82%
2016 0.19% 0.37%
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -1.31% 2.18% - - 1.03%
2019 1.00% 0.78% 0.63% 0.56% 2.99%
2018 0.36% 0.67% 0.61% 0.44% 2.10%
2017 0.40% 0.44% 0.37% 0.39% 1.60%
2016 - - - - 0.19%

Portfolio

Portfolio

Type Assets
Corp Floating
Commercial Paper
ABS
Corp Fixed Rate
U.S. Government Related
Cash
Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years

CREDIT QUALITY DISTRIBUTION as of 06/30/2020

Rating Assets
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB
<BBB

Portfolio Positioning as of 6/30/2020

  • We did not view the drop in value of our securities during the first quarter as a credit or default issue. Rather, we believed it was due to a supply / demand imbalance in the short-term credit markets caused by market volatility concerns related to COVID-19. Therefore, over the quarter we added to BBB-rated securities in order to take advantage of the unprecedented spread widening experienced in the short-term markets during March.
  • The largest change in portfolio positioning over the period was a large decrease in the portfolio’s commercial paper allocation. This was not a tactical shift, but rather a product of weak supply within the commercial paper market as new issue investment grade bonds replaced the supply of the asset class.
  • Overall, the portfolio remains high-quality, short-term and very liquid. We remain focused on maintaining a high degree of liquidity in the portfolio, which should allow us to continue to take advantage of attractive opportunities in the front-end markets.

Portfolio Details as of 06/30/2020

Total Net Assets
$19.67 B
Number of Issues
531
Average Coupon
1.47%
Average Life
0.92 Years
Average Effective Duration
0.31 Years

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For
YTD Dividends Paidas of 07/31/2020
$0.091
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 07/31/2020 $0.00769 $10.04
Daily Daily 06/30/2020 $0.00917 $10.03
Daily Daily 05/31/2020 $0.01163 $9.99
Daily Daily 04/30/2020 $0.01379 $9.95
Daily Daily 03/31/2020 $0.01593 $9.85
Daily Daily 02/29/2020 $0.01588 $10.03
Daily Daily 01/31/2020 $0.01757 $10.03

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 08/31/2020
Daily Daily 09/30/2020
Daily Daily 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

CAPITAL GAINS DISTRIBUTIONS

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/14/2017 12/15/2017 - $0.0003 $0.0003 $10.01

Upcoming Capital Gain Distribution

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
12/17/2020 12/18/2020

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 06/30/2020

0.30%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
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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

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Class R5 - The inception date for Class R5 shares is June 30, 2015. The performance quotations for Class R5 are based on the following methods of calculation: (a) for periods prior to June 30, 2015, a restated figure is used based on the historical performance of the Fund’s portfolio since inception to reflect all charges and fees applicable to Class R5 shares; and (b) for periods after June 30, 2015, actual Class R5 performance is used, which reflects all charges and fees applicable to Class R5 shares.

Class R5 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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