Municipals
Summary
Summary
KEY FACTS as of 06/28/2019
Vehicles
- This strategy is available as a:
- Separate Account
- Mutual Fund
PORTFOLIO MANAGERS
Portfolio
Portfolio
Portfolio Breakdownas of 06/28/2019
| Type | Portfolio |
|---|
| Type | Portfolio |
|---|---|
| Transportation | |
| IDR/PCR | |
| Healthcare/Hospital | |
| Lease | |
| GO Local | |
| Special Tax | |
| GO State | |
| Education | |
| Water & Sewer | |
| Pre-Refunded | |
| Housing | |
| Power | |
| VRDN | |
| Insured |
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 06/28/2019
| Type | Portfolio |
|---|
| A-2/MIG2 | 0.3% |
| AAA | 2.0% |
| AA | 25.5% |
| A | 38.1% |
| BBB | 23.3% |
| < BBB | 6.4% |
| Not Rated | 4.4% |
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 06/28/2019
| Portfolio | Index |
|---|
| Portfolio | Index | |
|---|---|---|
| Average Coupon | 4.8% | 4.7% |
| Average Effective Maturity | 19.3 Years | 13.1 Years |
| Average Effective Duration | 6.96 Years | 5.50 Years |
| Average Yield to Worst | 2.75% | 2.02% |
Portfolio data is based on the Municipals Representative Portfolio.
Performance
Performance
Average Annual Returns as of 05/31/2019
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception |
|---|
| Gross of Fees | 6.27% | 7.66% | 4.23% | 5.04% | 6.63% | 7.32% |
| Net of Fees | 5.95% | 6.87% | 3.46% | 4.27% | 5.92% | 6.88% |
| Bloomberg Barclays Municipal Bond Index | 4.71% | 6.40% | 2.96% | 3.58% | 4.58% | 6.68% |
Inception Date: May 1, 1984
Returns for periods of less than one year are not annualized.
Calendar Year Returnsas of 05/31/2019
| 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|
| Gross of Fees | 1.47% | 7.87% | 1.11% | 4.06% | 13.67% | -5.43% | 14.60% | 11.94% | 2.97% | 25.58% |
| Net of Fees | 0.73% | 7.08% | 0.36% | 3.29% | 12.83% | -6.11% | 13.76% | 11.08% | 2.66% | 25.21% |
| Bloomberg Barclays Municipal Bond Index | 1.28% | 5.45% | 0.25% | 3.30% | 9.05% | -2.55% | 6.78% | 10.70% | 2.38% | 12.91% |