Municipals
Summary
Summary
KEY FACTS as of 06/30/2020
Vehicles
- This strategy is available as a:
- Separate Account
- Mutual Fund
PORTFOLIO MANAGERS
Portfolio
Portfolio
Portfolio Breakdownas of 06/30/2020
| Type | Portfolio |
|---|
| Type | Portfolio |
|---|---|
| Transportation | |
| IDR/PCR | |
| Healthcare/Hospital | |
| Lease | |
| GO Local | |
| Special Tax | |
| Education | |
| Water & Sewer | |
| GO State | |
| Power | |
| Housing | |
| Pre-Refunded | |
| Other | |
| VRDN | |
| Muni_Solid_Waste/Res_Recovery |
Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of forward-settling instruments such as currency forwards, certain mortgage-backed securities, and U.S. treasury futures. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distributionas of 06/30/2020
| Type | Portfolio |
|---|
| AAA | 2.0% |
| AA | 20.6% |
| A | 36.7% |
| BBB | 29.4% |
| < BBB | 5.4% |
| Not Rated | 5.9% |
Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio.
CHARACTERISTICS as of 06/30/2020
| Portfolio | Index |
|---|
| Portfolio | Index | |
|---|---|---|
| Average Coupon | 4.6% | 4.6% |
| Average Effective Maturity | 19.5 Years | 13.0 Years |
| Average Effective Duration | 7.78 Years | 5.42 Years |
| Average Yield to Worst | 2.75% | 1.5% |
Portfolio data is based on the Municipals Representative Portfolio.
Performance
Performance
Average Annual Returns as of 07/31/2020
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception |
|---|
| Gross of Fees | 2.50% | 4.79% | 5.50% | 5.22% | 5.73% | 7.25% |
| Net of Fees | 2.07% | 4.03% | 4.73% | 4.45% | 4.97% | 6.81% |
| Bloomberg Barclays Municipal Bond Index | 3.80% | 5.36% | 4.52% | 4.13% | 4.26% | 6.64% |
Inception Date: May 1, 1984
Returns for periods of less than one year are not annualized.
Calendar Year Returnsas of 07/31/2020
| 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|
| Gross of Fees | 10.19% | 1.47% | 7.87% | 1.11% | 4.06% | 13.67% | -5.43% | 14.60% | 11.94% | 2.97% |
| Net of Fees | 9.39% | 0.73% | 7.08% | 0.36% | 3.29% | 12.83% | -6.11% | 13.76% | 11.08% | 2.66% |
| Bloomberg Barclays Municipal Bond Index | 7.54% | 1.28% | 5.45% | 0.25% | 3.30% | 9.05% | -2.55% | 6.78% | 10.70% | 2.38% |