Fixed Income Update | Lord Abbett
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Fixed-Income Insights

Lord Abbett Portfolio Manager Annika Lombardi shares her perspective on the growth of the ESG bond market. 

Transcript

AM with a PM

Annika Lombardi

Portfolio Manager

Air Date: January 20, 2021

00:00:03.389

My name is Annika Lombardi and I'm the portfolio manager of Lord Abbett's Climate Focused Bond Fund.

00:00:10.260

INTERSTITIAL: ESG Bonds: The Current Environment

So the demand for ESG in investing [LOWER THIRD: Environmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially- conscious investors use to screen potential investments.] has been around for quite some time. But it really appears as though the pandemic has accelerated investors’ interest as well as issuers’ interest in becoming more sustainable.

00:00:37.080 --> 00:00:49.290

In the fixed income space green bonds have been around for, for some time in which a bond is issued to fund projects like renewable energy or electric vehicle infrastructure.

00:00:49.710

But in the past several quarters, we've seen a significant acceleration in the in the issuance of what are called social bonds which go towards improving things like income inequality access to education, access to health care. And we believe that the pandemic has exposed a number of weaknesses in societies around the world, which has made it a higher priority for both corporations and individuals to help solve those problems.

00:01:44.130

Flows into ESG-designated products have been very strong over the past several quarters, outperforming many other areas of the market. And we at Lord Abbett believe that will continue as investors are increasingly focused on allocating their capital, whether it's to companies, sovereigns, or securities that are having a positive impact on the world.

00:14:09.030

Thank you for listening and thank you for your continued interest in Lord Abbett

________________________________________

Unless otherwise noted, all discussions are based on U.S. markets and U.S. monetary and fiscal policies.

Asset allocation or diversification does not guarantee a profit or protect against loss in declining markets.

No investing strategy can overcome all market volatility or guarantee future results.

Market forecasts and projections are based on current market conditions and are subject to change without notice. Projections should not be considered a guarantee.

The value of investments in fixed-income securities will change as interest rates fluctuate and in response to market movements. Generally, when interest rates rise, the prices of debt securities fall, and when interest rates fall, prices generally rise. High-yield securities, sometimes called junk bonds, carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. Bonds may also be subject to other types of risk, such as call, credit, liquidity, interest-rate, and general market risks. Longer-term debt securities are usually more sensitive to interest-rate changes; the longer the maturity of a security, the greater the effect a change in interest rates is likely to have on its price. Lower-rated bonds may be subject to greater risk than higher-rated bonds. No investing strategy can overcome all market volatility or guarantee future results.

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