Bond Debenture Fund

LBNDX

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Daily price w/o sales charge as of 09/27/2016

$7.91

$0.01

YTD Returns w/o sales charge as of 09/27/2016

10.73%

Overall Morningstar Ratings

Multisector Bond

as of 08/31/2016

Load & Load Waived

Morningstar rated the Lord Abbett Bond Debenture Fund class A share (load) 4, 5 and 4 stars and (load waived) 4, 5 and 4 stars among 252, 198 and 105 Multisector Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 8/31/2016, respectively.

Please click here for performance current to the most recent quarter-end and month-end.

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Summary

What is the Bond Debenture Fund?

The Fund seeks to deliver high current income and long-term growth of capital by investing primarily in a variety of fixed income securities and select equity-related securities.

A PIONEER IN MULTI-SECTOR

Over four decades of multi-sector bond investing, emphasizing rigorous credit research.

A FLEXIBLE APPROACH

The flexibility to adjust allocations to take advantage of opportunities as market conditions change.

TIME-TESTED RESULTS

A long track record illustrates performance in many market environments.

Yield

Dividend Yield ¹ as of 09/27/2016

	Subsidized³	Un-Subsidized⁴
w/o sales charge	-	4.99%
w/ sales charge	-	4.88%

30-Day Standardized Yield ² as of 08/31/2016

4.43%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Expense Ratioas of 08/31/2016

Fund Basicsas of 08/31/2016

Total Net Assets: $9.36 B
Inception Date: 04/01/1971
Dividend Frequency: Monthly (Daily Accrual)
Number of Holdings: 797
CUSIP: 544004104
Minimum Initial Investment: $1,000+

Fund Expense Ratio :

0.82%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 04/01/1971

w/o sales charge	10.49%	7.54%	5.86%	7.21%	6.86%	8.57%
Lipper Category Avg. Multi-Sector Income Funds	6.86%	5.23%	3.90%	4.40%	5.08%	-
Barclays U.S. Aggregate Bond Index	5.86%	5.97%	4.37%	3.24%	4.89%	-
w/ sales charge	8.01%	5.09%	5.04%	6.72%	6.61%	8.52%

Fund Expense Ratio :

0.82%

Fund Expense Ratio :

0.82%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 04/01/1971

w/o sales charge	6.02%	1.18%	4.92%	5.60%	6.66%	8.51%
Lipper Category Avg. Multi-Sector Income Funds	4.32%	1.75%	3.03%	3.64%	5.13%	-
Barclays U.S. Aggregate Bond Index	5.31%	6.00%	4.06%	3.76%	5.13%	-
w/ sales charge	3.64%	-1.05%	4.11%	5.13%	6.41%	8.45%

Fund Expense Ratio :

0.82%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

Credit Quality Distribution as of 08/31/2016 View Portfolio

Rating	Assets
AAA
AA
A
BBB
BB
B
CCC
<CCC
Not Rated

Ratings provided by Standard & Poor's and Moody's. Where S&P and Moody's rate a security differently, Lord Abbett uses the higher credit rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non investment grade bonds (junk bonds) involve higher risks than investment grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities are not rated. The credit quality distribution breakdown is not an S&P credit rating or an opinion of S&P as to the credit worthiness of the portfolio.

Investment Team

Steven F. Rocco, CFA

Partner & Portfolio Manager

15 Years of Industry Experience

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

18 Years of Industry Experience

Kewjin Yuoh

Partner & Portfolio Manager

22 Years of Industry Experience

Leah G. Traub, Ph.D.

Partner & Portfolio Manager

15 Years of Industry Experience

Robert A. Lee

Partner & Chief Investment Officer

25 Years of Industry Experience

Supported By 52 Investment Professionals and 13 Years Avg. Industry Experience

Contact a Representative

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Performance

Dividend Yield ¹ as of 09/27/2016

	Subsidized³	Un-Subsidized⁴
w/o sales charge	-	4.99%
w/ sales charge	-	4.88%

30-Day Standardized Yield ² as of 08/31/2016


w/o sales charge	4.43%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

0.82%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 04/01/1971

w/o sales charge	10.49%	7.54%	5.86%	7.21%	6.86%	8.57%
Lipper Category Avg. Multi-Sector Income Funds	6.86%	5.23%	3.90%	4.40%	5.08%	-
Barclays U.S. Aggregate Bond Index	5.86%	5.97%	4.37%	3.24%	4.89%	-
w/ sales charge	8.01%	5.09%	5.04%	6.72%	6.61%	8.52%

Fund Expense Ratio :

0.82%

Fund Expense Ratio :

0.82%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 04/01/1971

w/o sales charge	6.02%	1.18%	4.92%	5.60%	6.66%	8.51%
Lipper Category Avg. Multi-Sector Income Funds	4.32%	1.75%	3.03%	3.64%	5.13%	-
Barclays U.S. Aggregate Bond Index	5.31%	6.00%	4.06%	3.76%	5.13%	-
w/ sales charge	3.64%	-1.05%	4.11%	5.13%	6.41%	8.45%

Fund Expense Ratio :

0.82%

Returns with sales charges reflect a maximum sales charge of 2.25%.

Best returns

Durations	Fund Returns	Blended Index

3-Mo	19.56	18.78
1-Yr	44.94	30.23

Worst returns

Durations	Fund Returns	Blended Index

3-Mo	-22.29	-0.54
1-Yr	-24.09	1.74

Best & Worst returns reflect a cumulative return for the three-month and one-year periods.

Year	Fund Returns	Barclays U.S. Aggregate Bond Index

2015	-1.74%	0.55%
2014	4.51%	5.97%
2013	7.78%	-2.02%
2012	13.22%	4.22%
2011	3.88%	7.84%
2010	12.94%	6.54%
2009	35.37%	5.93%
2008	-20.26%	5.24%
2007	5.34%	6.97%
2006	9.87%	4.33%
2005	1.56%	-
2004	8.56%	-
2003	20.28%	-
2002	-1.08%	-
2001	4.86%	-
2000	-0.86%	-
1999	3.90%	-
1998	4.76%	-
1997	12.69%	-
1996	11.16%	-

Year	Q1	Q2	Q3	Q4	Yearly Returns

2016	1.64%	4.31%	-	-	10.73%
2015	3.40%	-0.43%	-3.62%	-0.98%	-1.74%
2014	2.83%	2.53%	-1.54%	0.67%	4.51%
2013	3.11%	-1.48%	2.69%	3.32%	7.78%
2012	5.66%	0.25%	4.45%	2.34%	13.22%
2011	4.21%	0.86%	-6.56%	5.77%	3.88%
2010	3.69%	-1.20%	6.61%	3.40%	12.94%
2009	2.40%	12.76%	11.53%	5.13%	35.37%
2008	-2.79%	1.42%	-7.80%	-12.29%	-20.26%
2007	2.64%	1.10%	2.03%	-0.51%	5.34%
2006	2.71%	-0.52%	3.54%	3.85%	9.87%
2005	-1.86%	1.54%	1.52%	0.40%	1.56%
2004	1.74%	-0.61%	2.95%	4.29%	8.56%
2003	3.34%	7.96%	1.97%	5.73%	20.28%
2002	0.11%	-4.06%	-1.93%	5.03%	-1.08%
2001	3.61%	-0.33%	-3.48%	5.22%	4.86%
2000	-0.25%	0.91%	1.35%	-2.81%	-0.86%
1999	1.69%	-0.14%	-1.35%	3.72%	3.90%
1998	4.40%	0.61%	-4.95%	4.94%	4.76%
1997	0.95%	5.61%	4.15%	1.49%	12.69%
1996	2.49%	1.09%	3.92%	3.25%	11.16%
1995	4.30%	5.69%	3.08%	3.41%	17.50%
1994	-0.87%	-1.68%	0.53%	-1.90%	-3.87%
1993	6.02%	3.45%	2.17%	3.49%	15.97%
1992	5.52%	3.30%	4.58%	1.76%	16.00%
1991	13.83%	6.14%	8.09%	5.94%	38.34%
1990	-1.14%	3.24%	-8.24%	-1.31%	-7.57%
1989	3.16%	3.50%	0.42%	-2.01%	5.06%
1988	6.72%	3.47%	1.36%	1.67%	13.80%
1987	7.62%	-0.63%	0.06%	-4.80%	1.88%
1986	7.90%	2.31%	-2.60%	2.87%	10.61%
1985	6.20%	6.60%	1.93%	4.87%	21.01%
1984	0.96%	-4.81%	7.16%	1.92%	4.96%
1983	10.78%	5.47%	-0.62%	0.68%	16.90%
1982	0.04%	2.77%	10.54%	12.22%	27.54%
1981	3.78%	2.33%	-8.09%	7.88%	5.30%
1980	-9.93%	19.56%	-1.46%	2.61%	8.88%
1979	6.46%	3.42%	1.25%	-4.02%	7.00%
1978	2.24%	0.92%	5.75%	-5.81%	2.77%
1977	-0.02%	5.96%	-1.31%	2.35%	7.00%
1976	14.52%	2.74%	4.99%	5.99%	30.93%
1975	16.50%	8.54%	-2.33%	4.95%	29.62%
1974	6.42%	-7.46%	-6.91%	3.54%	-5.08%
1973	-0.69%	-6.28%	5.63%	-8.30%	-9.84%
1972	5.02%	-0.45%	-0.44%	2.08%	6.26%
1971	-	-	4.77%	6.03%	7.65%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 08/31/2016

The chart begins on the Fund's inception date of 04/01/1971.

Based on a hypothetical Class A share investment of $10,000 on 04/01/1971 without sales charge and includes the reinvestment of all distributions.

NAV Historical Prices

Date	Net Asset Value

Portfolio

Rating	Assets
U.S. High Yield Corporate
U.S. Investment Grade Corporate
Equity
Non-U.S. High Yield Corporate
Non-U.S. Investment Grade Corporate
Sovereign
Bank Loans
ABS
CMBS
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Rating	Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 08/31/2016

Rating	Assets
AAA
AA
A
BBB
BB
B
CCC
<CCC
Not Rated

Portfolio Positioning as of 06/30/2016

Although volatility in the credit markets remained elevated in the second quarter, especially with surprise decision by the United Kingdom to exit the European Union, major categories of U.S. fixed-income securities posted positive returns. High yield outperformed core bonds, driven by the recovery in commodity prices and the continued search for yield. We believe volatility may continue as markets digest further political and economic uncertainty surrounding the “Brexit” decision, its impact on global growth, and the implications for central bank policy.
Within the credit-sensitive portion of the portfolio, we are defensively positioned in the health care and telecom sectors. Concerns relating to the pharmaceutical industry and a loss of earnings momentum in hospitals drove the decision to reduce exposure to health care during the quarter, while competitive pressures within the telecom space compelled defensive positioning therein.
The portfolio’s allocation to bank loans and high yield bonds should help mitigate its sensitivity to rising interest rates. These asset classes historically have demonstrated negative correlation with Treasury securities in certain past periods of rising rates.

Portfolio Details as of 08/31/2016

Total Net Assets: $9.36 B
Number of Issues: 797
Average Coupon: 6.01%
Average Maturity: 9.80 Years
Average Effective Duration: 4.49 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding	Coupon	Maturity	Assets

Amazon.com, Inc.	4.800%	12/05/2034	0.7%
Neptune Finco Corp.	10.875%	10/15/2025	0.6%
T-Mobile USA, Inc.	6.500%	01/15/2024	0.6%
Sabine Pass Liquefaction LLC	5.750%	05/15/2024	0.5%
Frontier Communications Corp.	11.000%	09/15/2025	0.5%
HCA, Inc.	7.500%	02/15/2022	0.5%
Equinix, Inc.	5.875%	01/15/2026	0.4%
Anheuser-Busch InBev Finance, Inc.	3.650%	02/01/2026	0.4%
Concho Resources, Inc.	5.500%	04/01/2023	0.4%
Numericable Group S.A.	6.000%	05/15/2022	0.4%

% of Total Assets			5.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Holding	Coupon	Maturity	Assets

FNMA Conventional Long T. 30yr	3.000%	02/28/2045	0.9%
Amazon.com, Inc.	4.800%	12/05/2034	0.7%
Neptune Finco Corp.	10.875%	10/15/2025	0.6%
T-Mobile USA, Inc.	6.500%	01/15/2024	0.6%
Frontier Communications Corp.	11.000%	09/15/2025	0.5%
HCA, Inc.	7.500%	02/15/2022	0.5%
Anheuser-Busch InBev Finance, Inc.	3.650%	02/01/2026	0.4%
Province of British Columbia, Canada	2.850%	06/18/2025	0.4%
Sabine Pass Liquefaction LLC	5.750%	05/15/2024	0.4%
Concho Resources, Inc.	5.500%	04/01/2023	0.4%
Equinix, Inc.	5.875%	01/15/2026	0.4%
Shell International Finance BV	6.375%	12/15/2038	0.3%
Royal Caribbean Cruises Ltd.	7.500%	10/15/2027	0.3%
Pulte Group, Inc.	6.375%	05/15/2033	0.3%
MGM Resorts International	6.000%	03/15/2023	0.3%
Freeport-McMoRan, Inc.	3.875%	03/15/2023	0.3%
DaVita, Inc.	5.750%	08/15/2022	0.3%
Diamond 1 Finance Corp. / Diamond 2 Finance Corp.	7.125%	06/15/2024	0.3%
WhiteWave Foods Co.	5.375%	10/01/2022	0.3%
CrownRock L.P./CrownRock Finance, Inc.	7.125%	04/15/2021	0.3%
First Data Corp.	7.000%	12/01/2023	0.3%
Boston Scientific Corp.	7.000%	11/15/2035	0.3%
Argos Merger Sub, Inc.	7.125%	03/15/2023	0.3%
Microsoft Corp.	4.000%	02/12/2055	0.3%
MEG Energy Corp.	7.000%	03/31/2024	0.3%
Wind Acquisition Finance S.A.	7.375%	04/23/2021	0.3%
Qorvo, Inc.	7.000%	12/01/2025	0.3%
Alliance Data Systems, Inc.	6.375%	04/01/2020	0.3%
CommScope Technologies Finance LLC	6.000%	06/15/2025	0.3%
The Royal Bank of Scotland Group PLC	7.500%	09/30/2099	0.3%
Diamondback Energy, Inc.	7.625%	10/01/2021	0.3%
Viacom, Inc.	4.850%	12/15/2034	0.3%
Cablevision Systems Corp.	5.875%	09/15/2022	0.3%
Fresenius Medical Care US Finance II, Inc.	5.875%	01/31/2022	0.3%
Argentina Bonar Bonds	8.750%	05/07/2024	0.3%
Numericable Group S.A.	6.000%	05/15/2022	0.3%
Grifols Worldwide Operations Ltd.	5.250%	04/01/2022	0.3%
General Electric Co.	5.000%	12/31/2099	0.3%
Mediacom Broadband LLC	6.375%	04/01/2023	0.3%
Australian Government	4.250%	04/21/2026	0.3%
Wynn Macau Ltd.	5.250%	10/15/2021	0.3%
Comcel Trust	6.875%	02/06/2024	0.3%
Rite Aid Corp.	7.700%	02/15/2027	0.3%
Diamond 1 Finance Corp. / Diamond 2 Finance Corp.	5.875%	06/15/2021	0.3%
PDC Energy, Inc.	7.750%	10/15/2022	0.3%
BankUnited, Inc.	4.875%	11/17/2025	0.3%
Continental Resources, Inc.	3.800%	06/01/2024	0.3%
New Gold, Inc.	6.250%	11/15/2022	0.3%
Trimble Navigation Ltd.	4.750%	12/01/2024	0.3%
Dominican Republic International Bond	6.850%	01/27/2045	0.3%
Tenet Healthcare Corp.	8.125%	04/01/2022	0.3%
5180-2 CLO LP	3.179%	11/25/2027	0.2%
Freeport-McMoRan, Inc.	3.550%	03/01/2022	0.2%
Valmont Industries, Inc.	5.250%	10/01/2054	0.2%
ABN Amro Bank NV	4.750%	07/28/2025	0.2%
Fresnillo plc	5.500%	11/13/2023	0.2%
Hilcorp Energy L.P. / Hilcorp Finance Co.	5.000%	12/01/2024	0.2%
Cyprus Government International Bond	4.750%	06/25/2019	0.2%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.	6.375%	06/01/2021	0.2%
Voto-Votorantim Overseas Trading Operations IV Ltd	7.750%	06/24/2020	0.2%
Emera, Inc.	6.750%	06/15/2076	0.2%
Kinross Gold Corp.	5.950%	03/15/2024	0.2%
T-Mobile USA, Inc.	6.633%	04/28/2021	0.2%
Australia & New Zealand Banking Group Ltd/United K	6.750%	12/15/2099	0.2%
ABIOMED, Inc.	-	-	0.2%
Edwards Lifesciences Corp.	-	-	0.2%
Equinix, Inc.	5.375%	04/01/2023	0.2%
Teck Resources Ltd.	4.750%	01/15/2022	0.2%
Unitymedia Hessen GmbH & Co KG	5.500%	01/15/2023	0.2%
Frontier Communications Corp.	10.500%	09/15/2022	0.2%
IFM US Colonial Pipeline 2 LLC	6.450%	05/01/2021	0.2%
William Lyon Homes, Inc.	7.000%	08/15/2022	0.2%
Cowlitz Tribal Gaming Authority	11.500%	12/04/2020	0.2%
NVIDIA Corp.	-	-	0.2%
Newell Rubbermaid, Inc.	5.500%	04/01/2046	0.2%
Wynn Resorts Ltd.	-	-	0.2%
Oracle Corp.	4.375%	05/15/2055	0.2%
Dollar Tree, Inc.	5.750%	03/01/2023	0.2%
CST Brands, Inc.	5.000%	05/01/2023	0.2%
AMC Networks, Inc.	4.750%	12/15/2022	0.2%
Pfizer, Inc.	5.600%	09/15/2040	0.2%
Popular, Inc.	7.000%	07/01/2019	0.2%
El Paso Electric Co.	5.000%	12/01/2044	0.2%
Indianapolis Power & Light Co.	4.050%	05/01/2046	0.2%
Frontier Communications Corp.	6.875%	01/15/2025	0.2%
Range Resources Corp.	4.875%	05/15/2025	0.2%
T-Mobile USA, Inc.	6.500%	01/15/2026	0.2%
St Georges Univ	6.250%	06/06/2022	0.2%
Alibaba Group Holding Ltd.	3.125%	11/28/2021	0.2%
IntercontinentalExchange Group, Inc.	3.750%	12/01/2025	0.2%
Bank of America Corp.	4.250%	10/22/2026	0.2%
Cemex, S.A.B. de C.V.	7.750%	04/16/2026	0.2%
BHP Billiton Finance USA Ltd.	6.250%	10/19/2075	0.2%
BHP Billiton Finance USA Ltd.	6.750%	10/19/2075	0.2%
Goldman Sachs Group, Inc.	5.150%	05/22/2045	0.2%
NSG Holdings LLC / NSG Holdings, Inc.	7.750%	12/15/2025	0.2%
Centene Corp.	6.125%	02/15/2024	0.2%
Building Materials Corp. of America	5.375%	11/15/2024	0.2%
Medtronic, Inc.	4.375%	03/15/2035	0.2%
Rockies Express Pipeline LLC	6.875%	04/15/2040	0.2%
Florida Gas Transmission Co., LLC	4.350%	07/15/2025	0.2%
Medtronic, Inc.	3.150%	03/15/2022	0.2%
Seven Generations Energy Ltd.	6.750%	05/01/2023	0.2%
Memorial Resource Development Corp.	5.875%	07/01/2022	0.2%
Mohegan Tribal Gaming Authority	9.750%	09/01/2021	0.2%
Microsoft Corp.	2.375%	02/12/2022	0.2%
Wells Fargo & Co.	4.900%	11/17/2045	0.2%
Cengage Learning, Inc.	9.500%	06/15/2024	0.2%
Seven Generations Energy Ltd.	8.250%	05/15/2020	0.2%
Queensland Treasury Corp.	4.000%	06/21/2019	0.2%
Entergy Arkansas, Inc.	4.950%	12/15/2044	0.2%
Sensus USA, Inc.	6.500%	03/31/2023	0.2%
Lloyds Banking Group plc	4.582%	12/10/2025	0.2%
Citgo Holding, Inc.	10.750%	02/15/2020	0.2%
Newfield Exploration Co.	5.625%	07/01/2024	0.2%
Brown-Forman Corp.	4.500%	07/15/2045	0.2%
Florida East Coast Railway Corp.	6.750%	05/01/2019	0.2%
Newmont Mining Corp.	4.875%	03/15/2042	0.2%
Total System Services, Inc.	4.800%	04/01/2026	0.2%
MCE Finance Ltd.	5.000%	02/15/2021	0.2%
B&G Foods, Inc.	4.625%	06/01/2021	0.2%
Citigroup, Inc.	4.450%	09/29/2027	0.2%
Charter Communications Operating LLC	4.908%	07/23/2025	0.2%
New Albertson's, Inc.	7.750%	06/15/2026	0.2%
UC Holdings	-	-	0.2%
Oceaneering International, Inc.	4.650%	11/15/2024	0.2%
CME Group, Inc.	3.000%	03/15/2025	0.2%
CCO Holdings LLC / CCO Holdings Capital Corp.	5.875%	04/01/2024	0.2%
Navient Corp.	6.625%	07/26/2021	0.2%
UPCB Finance Ltd.	5.375%	01/15/2025	0.2%
Fresnillo plc	-	-	0.2%
Tops Holding LLC / Tops Markets II Corp.	8.000%	06/15/2022	0.2%
William Carter Co.	5.250%	08/15/2021	0.2%
Kinross Gold Corp.	5.125%	09/01/2021	0.2%
Sealed Air Corp.	6.875%	07/15/2033	0.2%
Silver Wheaton Corp.	-	-	0.2%
Digicel Ltd.	7.000%	02/15/2020	0.2%
HSBC Holdings plc	4.250%	08/18/2025	0.2%
Tengizchevroil Finance Co International Ltd	4.000%	08/15/2026	0.2%
Bahia Sul Holdings GmbH	5.750%	07/14/2026	0.2%
Lennar Corp.	4.750%	11/15/2022	0.2%
New York City Indl Dev Agy	11.000%	03/01/2029	0.2%
Zayo Group LLC	6.000%	04/01/2023	0.2%
Coeur Mining, Inc.	7.875%	02/01/2021	0.2%
Discover Bank	3.450%	07/27/2026	0.2%
OM Asset Management plc	4.800%	07/27/2026	0.2%
Carrizo Oil & Gas, Inc.	6.250%	04/15/2023	0.2%
CDW Corp.	5.500%	12/01/2024	0.2%
Boyd Gaming Corp.	6.875%	05/15/2023	0.2%
Britax Childcare	4.500%	10/15/2020	0.2%
CNO Financial Group, Inc.	5.250%	05/30/2025	0.2%
Pulte Group, Inc.	5.000%	01/15/2027	0.2%
YPF S.A.	8.500%	07/28/2025	0.2%
Time Warner Cable, Inc.	5.875%	11/15/2040	0.2%
Newmont Mining Corp.	-	-	0.2%
Constellation Brands, Inc.	4.250%	05/01/2023	0.2%
Granite Construction, Inc.	-	-	0.2%
GTL Trade Finance, Inc.	5.893%	04/29/2024	0.2%
Government of Jamaica	6.750%	04/28/2028	0.2%
Intesa Sanpaolo SpA	5.710%	01/15/2026	0.2%
Facebook, Inc.	-	-	0.2%
Chief Exploration & Dev LLC	7.500%	05/16/2021	0.2%
Central Japan Railway Co.	4.250%	11/24/2045	0.2%
Republic of Brazil	6.000%	04/07/2026	0.2%
Comerica, Inc.	-	-	0.2%
Teachers Insurance & Annuity Association of Americ	4.900%	09/15/2044	0.2%
Rice Energy, Inc.	6.250%	05/01/2022	0.2%
Industrial & Commercial Bank of China Ltd.	3.231%	11/13/2019	0.2%
Thor Industries, Inc.	-	-	0.2%
Hughes Satellite Systems Corp.	7.625%	06/15/2021	0.2%
Intuitive Surgical, Inc.	-	-	0.2%
Weatherford International Ltd. Bermuda	7.750%	06/15/2021	0.2%
Qatar Government International Bond	4.625%	06/02/2046	0.2%
Coveris Holdings S.A.	7.875%	11/01/2019	0.2%
Citizens Financial Group, Inc.	5.500%	12/31/2099	0.2%
Brookfield Residential Properties, Inc.	6.500%	12/15/2020	0.2%
Neiman Marcus Group Ltd. Inc.	8.000%	10/15/2021	0.2%
Lam Research Corp.	3.900%	06/15/2026	0.2%
Intesa Sanpaolo SpA	7.700%	03/17/2099	0.2%
HCA, Inc.	7.690%	06/15/2025	0.2%
ArcelorMittal	6.125%	06/01/2025	0.2%
Beacon Roofing Supply, Inc.	-	-	0.2%
Brixmor Operating Partnership L.P.	3.850%	02/01/2025	0.2%
Memorial Sloan-Kettering Cancer Center	4.200%	07/01/2055	0.2%
US Silica Holdings, inc.	-	-	0.2%
Micron Technology, Inc.	7.500%	09/15/2023	0.2%
Clear Channel Worldwide Holdings, Inc.	6.500%	11/15/2022	0.2%
Metropolitan Museum of Art	3.400%	07/01/2045	0.2%
Ally Financial, Inc.	5.750%	11/20/2025	0.2%
Wayne Merger Sub LLC	8.250%	08/01/2023	0.2%
Boardwalk Pipelines L.P.	5.950%	06/01/2026	0.2%
Cullen/Frost Bankers, Inc.	-	-	0.2%
Seven Generations Energy Ltd.	-	-	0.2%
Amazon.com, Inc.	-	-	0.2%
Grupo Idesa S.A. de C.V.	7.875%	12/18/2020	0.2%
Univision Communications, Inc.	5.125%	02/15/2025	0.2%
Toro Co.	-	-	0.2%
Mastercard, Inc.	3.375%	04/01/2024	0.2%
Occidental Petroleum Corp.	3.400%	04/15/2026	0.2%
Sable International Finance Ltd.	6.875%	08/01/2022	0.2%
Citigroup Commercial Mortgage Trust	4.625%	01/14/2043	0.2%
Ethiopia International Bond	6.625%	12/11/2024	0.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o	5.000%	06/01/2024	0.2%
DISH DBS Corp.	7.750%	07/01/2026	0.2%
Hanover Insurance Group, Inc.	4.500%	04/15/2026	0.2%
Banco Popular Espanol SA	11.500%	01/10/2099	0.2%
Brazil Minas SPE via State of Minas Gerais	5.333%	02/15/2028	0.2%
Goldman Sachs Group, Inc.	3.500%	01/23/2025	0.2%
IHeart Communications, Inc.	9.000%	03/01/2021	0.2%
Brixmor Operating Partnership L.P.	3.875%	08/15/2022	0.2%
RSP Permian, Inc.	6.625%	10/01/2022	0.2%
Entergy Mississippi, Inc.	2.850%	06/01/2028	0.2%
Altice Financing S.A.	6.625%	02/15/2023	0.2%
Norbord, Inc.	6.250%	04/15/2023	0.1%
GCI, Inc.	6.875%	04/15/2025	0.1%
National Financial Partners Corp.	9.000%	07/15/2021	0.1%
C.R. Bard, Inc.	3.000%	05/15/2026	0.1%
Post Holdings, Inc.	7.750%	03/15/2024	0.1%
LBC Tank Terminals Holding Netherlands BV	6.875%	05/15/2023	0.1%
TIAA Asset Management Finance Co. LLC	4.125%	11/01/2024	0.1%
Constellation Brands, Inc.	6.000%	05/01/2022	0.1%
Land O'Lakes, Inc.	6.000%	11/15/2022	0.1%
Magellan Midstream Partners L.P.	5.000%	03/01/2026	0.1%
FedEx Corp.	4.550%	04/01/2046	0.1%
JFIN CLO 2015-II Ltd.	3.079%	10/19/2026	0.1%
MMC Norilsk Nickel OJSC via MMC Finance Ltd.	6.625%	10/14/2022	0.1%
Abu Dhabi Government International Bond	3.125%	05/03/2026	0.1%
Goldcorp, Inc.	-	-	0.1%
Aleris International, Inc.	9.500%	04/01/2021	0.1%
Santander UK Group Holdings plc	4.750%	09/15/2025	0.1%
Kellogg Co.	4.500%	04/01/2046	0.1%
Northern Tier Energy LLC / Northern Tier Finance C	7.125%	11/15/2020	0.1%
FGI Operating Co. LLC / FGI Finance, Inc.	7.875%	05/01/2020	0.1%
Credit Suisse Group AG	7.500%	06/11/2099	0.1%
Crown Cork & Seal Co., Inc.	7.375%	12/15/2026	0.1%
Exxon Mobil Corp.	4.114%	03/01/2046	0.1%
Columbus International, Inc.	7.375%	03/30/2021	0.1%
Tenet Healthcare Corp.	6.750%	06/15/2023	0.1%
Mead Johnson Nutrition Co.	4.125%	11/15/2025	0.1%
Siemens Financial Services, Inc.	3.250%	05/27/2025	0.1%
ANZ New Zealand Int'l Ltd.	2.125%	07/28/2021	0.1%
Digital Realty Trust L.P.	4.750%	10/01/2025	0.1%
Blue Buffalo Pet Products, Inc.	-	-	0.1%
Florida East Coast Railway Corp.	9.750%	05/01/2020	0.1%
Sound Point CLO XI Ltd.	5.175%	07/20/2028	0.1%
Sterigenics-Nordion Holdings LLC	6.500%	05/15/2023	0.1%
Gulfport Energy Corp.	7.750%	11/01/2020	0.1%
United Rentals, Inc.	6.125%	06/15/2023	0.1%
Brooklyn Union Gas Co.	3.407%	03/10/2026	0.1%
Amsurg Corp.	5.625%	11/30/2020	0.1%
Dominion Gas Holdings LLC	3.600%	12/15/2024	0.1%
Tesoro Logistics L.P.	6.250%	10/15/2022	0.1%
HCA, Inc.	5.250%	04/15/2025	0.1%
K. Hovnanian Enterprises, Inc.	7.250%	10/15/2020	0.1%
Dycom Industries, Inc.	-	-	0.1%
CPI International Acquisition, Inc.	8.750%	02/15/2018	0.1%
PepsiCo, Inc.	2.850%	02/24/2026	0.1%
FMC Corp.	-	-	0.1%
Trinity Acquisition plc	4.400%	03/15/2026	0.1%
Steel Dynamics, Inc.	5.125%	10/01/2021	0.1%
MPLX L.P.	5.500%	02/15/2023	0.1%
Nordea Bank AB	6.125%	03/23/2099	0.1%
ACADIA Pharmaceuticals, Inc.	-	-	0.1%
Kellogg Co.	3.250%	04/01/2026	0.1%
Toll Brothers Finance Corp.	5.625%	01/15/2024	0.1%
TI Group Automotive Systems LLC	8.750%	07/15/2023	0.1%
Bermuda Government International Bond	4.138%	01/03/2023	0.1%
Ardagh Packaging Finance plc / Ardagh MP Holdings	7.250%	05/15/2024	0.1%
Unitymedia Hessen GmbH & Co KG	5.000%	01/15/2025	0.1%
Provincia de Mendoza Argentina	8.375%	05/19/2024	0.1%
Gibson Brands, Inc.	8.875%	08/01/2018	0.1%
International Game Technology plc	6.500%	02/15/2025	0.1%
American Greetings Corp.	7.375%	12/01/2021	0.1%
Cleco Corp.	4.973%	05/01/2046	0.1%
Crown Castle International Corp.	4.875%	04/15/2022	0.1%
Burlington Stores, Inc.	-	-	0.1%
Spark Therapeutics, Inc.	-	-	0.1%
Energy Transfer Equity L.P.	5.875%	01/15/2024	0.1%
Core-Mark Holding Co., Inc.	-	-	0.1%
MarketAxess Holdings, Inc.	-	-	0.1%
Pharmaceutical Product Development LLC	6.375%	08/01/2023	0.1%
OZLM Ltd.	2.829%	10/17/2026	0.1%
Emera US Finance L.P.	3.550%	06/15/2026	0.1%
Ashton Woods USA LLC / Ashton Woods Finance Co.	6.875%	02/15/2021	0.1%
Precision Drilling Corp.	5.250%	11/15/2024	0.1%
Pinnacle Foods, Inc.	4.875%	05/01/2021	0.1%
Southern Graphics Systems, Inc.	8.375%	10/15/2020	0.1%
Netflix, Inc.	5.500%	02/15/2022	0.1%
Advanced Micro Devices, Inc.	7.500%	08/15/2022	0.1%
PF Chang's China Bistro, Inc.	10.250%	06/30/2020	0.1%
Belden, Inc.	-	-	0.1%
Kosmos Energy Ltd.	7.875%	08/01/2021	0.1%
Intelsat Luxembourg S.A.	6.750%	06/01/2018	0.1%
Lundin Mining Corp.	7.875%	11/01/2022	0.1%
Weatherford International Ltd. Bermuda	4.500%	04/15/2022	0.1%
SiteOne Landscape Supply, Inc.	-	-	0.1%
Charter Communications Operating LLC	6.384%	10/23/2035	0.1%
FTI Consulting, Inc.	6.000%	11/15/2022	0.1%
Griffon Corp.	5.250%	03/01/2022	0.1%
Applied Materials, Inc.	-	-	0.1%
Pool Corp.	-	-	0.1%
Pride International, Inc.	6.875%	08/15/2020	0.1%
Casey's General Stores, Inc.	-	-	0.1%
Nevro Corp.	-	-	0.1%
Government of Jamaica	7.625%	07/09/2025	0.1%
Worthington Industries, Inc.	-	-	0.1%
Caesars Entertainment Resort Properties, LLC	7.000%	10/11/2020	0.1%
Air Canada	7.750%	04/15/2021	0.1%
Gates Global LLC	6.000%	07/15/2022	0.1%
Red de Carreteras de Occidente SAPIB de CV	9.000%	06/10/2028	0.1%
Export-Import Bank of India	3.375%	08/05/2026	0.1%
Hillman Group, Inc.	6.375%	07/15/2022	0.1%
Volcan Cia Minera SAA	5.375%	02/02/2022	0.1%
Milacron LLC / Mcron Finance Corp.	7.750%	02/15/2021	0.1%
Hanesbrands, Inc.	4.625%	05/15/2024	0.1%
Frontier Communications Corp.	9.250%	07/01/2021	0.1%
PPL Energy Supply LLC	6.500%	06/01/2025	0.1%
Anglo American plc	-	-	0.1%
CCM Merger, Inc.	9.125%	05/01/2019	0.1%
Martin Marietta Materials, Inc.	4.250%	07/02/2024	0.1%
Martin Marietta Materials, Inc.	-	-	0.1%
Silicon Motion Technology Corp.	-	-	0.1%
Cosan Luxembourg SA	7.000%	01/20/2027	0.1%
Midas Intermediate Holdco II LLC / Midas Intermedi	7.875%	10/01/2022	0.1%
MSCI, Inc.	5.750%	08/15/2025	0.1%
MPH Acquisition Holdings LLC	7.125%	06/01/2024	0.1%
Honduras Government International Bond	7.500%	03/15/2024	0.1%
Joseph T Ryerson & Son, Inc.	11.000%	05/15/2022	0.1%
California Resources Corp.	3.000%	09/24/2019	0.1%
Reynolds Group Issuer, Inc.	5.750%	10/15/2020	0.1%
McDonald's Corp.	4.600%	05/26/2045	0.1%
TreeHouse Foods, Inc.	6.000%	02/15/2024	0.1%
YPF S.A.	8.500%	03/23/2021	0.1%
Seminole Hard Rock Entertainment, Inc. / Seminole	5.875%	05/15/2021	0.1%
Jurassic Holdings III, Inc.	6.875%	02/15/2021	0.1%
Kraton Polymers LLC/Capital Corp.	10.500%	04/15/2023	0.1%
VTR Finance B.V.	6.875%	01/15/2024	0.1%
Hema Bondco I BV	6.250%	06/15/2019	0.1%
NOVA Chemicals Corp.	5.250%	08/01/2023	0.1%
DP World Ltd.	6.850%	07/02/2037	0.1%
GTH Finance BV	7.250%	04/26/2023	0.1%
Carlson Travel Holdings, Inc.	7.500%	08/15/2019	0.1%
Trimble Navigation Ltd.	-	-	0.1%
Unifrax I LLC / Unifrax Holding Co.	7.500%	02/15/2019	0.1%
Genesis Energy L.P.	6.750%	08/01/2022	0.1%
JPMorgan Chase & Co.	3.875%	09/10/2024	0.1%
Align Technology, Inc.	-	-	0.1%
Steel Dynamics, Inc.	5.500%	10/01/2024	0.1%
Bermuda Government International Bond	4.854%	02/06/2024	0.1%
PepsiCo, Inc.	4.450%	04/14/2046	0.1%
DexCom, Inc.	-	-	0.1%
Springs Industries, Inc.	6.250%	06/01/2021	0.1%
Xylem, Inc.	-	-	0.1%
Ellie Mae, Inc.	-	-	0.1%
S.C. Johnson & Son, Inc.	4.750%	10/15/2046	0.1%
Access Midstream Partners L.P.	4.875%	05/15/2023	0.1%
ADS Waste Holdings, Inc.	8.250%	10/01/2020	0.1%
Morgan Stanley	3.125%	07/27/2026	0.1%
Albemarle Corp.	5.450%	12/01/2044	0.1%
Ascension Health	3.945%	11/15/2046	0.1%
Southern Star Central Corp.	5.125%	07/15/2022	0.1%
International Automotive Components Group S.A.	9.125%	06/01/2018	0.1%
Ball Corp.	4.000%	11/15/2023	0.1%
Paramount Resources Ltd.	6.875%	06/30/2023	0.1%
Buenos Aires, Argentina	8.950%	02/19/2021	0.1%
Vail Resorts, Inc.	-	-	0.1%
MSCI, Inc.	-	-	0.1%
Stryker Corp.	4.625%	03/15/2046	0.1%
Imperial Metals Corp.	7.000%	03/15/2019	0.1%
AES Panama SRL	6.000%	06/25/2022	0.1%
Deckers Outdoor Corp.	-	-	0.1%
Sealed Air Corp.	4.875%	12/01/2022	0.1%
Caesars Growth Properties Holdings LLC	9.375%	05/01/2022	0.1%
Wynn Las Vegas LLC	5.375%	03/15/2022	0.1%
Seattle Genetics, Inc.	-	-	0.1%
Graphic Packaging Holding Co.	4.875%	11/15/2022	0.1%
Rockies Express Pipeline LLC	5.625%	04/15/2020	0.1%
Petrobras Argentina SA	7.375%	07/21/2023	0.1%
Kansas City Southern	-	-	0.1%
T-Mobile US, Inc.	-	-	0.1%
Parsley Energy LLC	7.500%	02/15/2022	0.1%
Caesars Entertainment Resort Properties LLC	11.000%	10/01/2021	0.1%
Premier Foods Finance plc	6.500%	03/15/2021	0.1%
AECOM	5.875%	10/15/2024	0.1%
Hershey Co.	-	-	0.1%
Albemarle Corp.	-	-	0.1%
DENTSPLY International, Inc.	-	-	0.1%
Denbury Resources, Inc.	5.500%	05/01/2022	0.1%
Netflix, Inc.	5.875%	02/15/2025	0.1%
Newmont Mining Corp.	6.250%	10/01/2039	0.1%
United States Steel Corp.	8.375%	07/01/2021	0.1%
Vulcan Materials Co.	4.500%	04/01/2025	0.1%
Centene Corp.	-	-	0.1%
Veeva Systems, Inc.	-	-	0.1%
Energy Transfer Equity L.P.	5.500%	06/01/2027	0.1%
TransDigm, Inc.	6.500%	07/15/2024	0.1%
WPX Energy, Inc.	6.000%	01/15/2022	0.1%
VCA Antech, Inc.	-	-	0.1%
National Savings Bank	5.150%	09/10/2019	0.1%
Telecom Italia SpA	5.303%	05/30/2024	0.1%
Illinois Tool Works, Inc.	-	-	0.1%
Thermo Fisher Scientific, Inc.	-	-	0.1%
Tencent Holdings Ltd.	-	-	0.1%
Hologic, Inc.	5.250%	07/15/2022	0.1%
Gabon Government International Bond	6.375%	12/12/2024	0.1%
Broadcom Ltd	-	-	0.1%
Consol Energy, Inc.	8.000%	04/01/2023	0.1%
Nabors Industries Ltd.	4.625%	09/15/2021	0.1%
Lockheed Martin Corp.	4.700%	05/15/2046	0.1%
Shake Shack, Inc.	-	-	0.1%
Littelfuse, Inc.	-	-	0.1%
Southwestern Energy Co.	-	01/15/2018	0.1%
Huntsman International LLC	5.125%	11/15/2022	0.1%
EFS Cogen Holdings I LLC	5.250%	06/08/2023	0.1%
Columbia Pipeline Group, Inc.	4.500%	06/01/2025	0.1%
Forum Energy Technologies, Inc.	6.250%	10/01/2021	0.1%
Autoridad del Canal de Panama	4.950%	07/29/2035	0.1%
Scotts Miracle-Gro Co.	-	-	0.1%
Dignity Health	4.500%	11/01/2042	0.1%
Aleris International, Inc.	7.875%	11/01/2020	0.1%
Southern California Edison Co.	3.900%	03/15/2043	0.1%
Chesapeake Energy Corp.	2.500%	05/15/2037	0.1%
Glencore Funding LLC	4.125%	05/30/2023	0.1%
Restoration Hardware Holdings, Inc.	0.000%	07/15/2020	0.1%
Banco de Bogota SA	6.250%	05/12/2026	0.1%
Middleby Corp.	-	-	0.1%
General Cable Corp.	5.750%	10/01/2022	0.1%
Sberbank of Russia Via SB Capital S.A.	5.500%	02/26/2024	0.1%
FMG Finance Pty Ltd.	9.750%	03/01/2022	0.1%
Gruposura Finance	5.500%	04/29/2026	0.1%
Discover Financial Services	-	-	0.1%
McDonald's Corp.	4.875%	12/09/2045	0.1%
GMS, Inc.	-	-	0.1%
Digicel Ltd.	6.750%	03/01/2023	0.1%
Black Hills Corp.	-	11/01/2018	0.1%
ARC Properties Operating Partnership L.P.	4.875%	06/01/2026	0.1%
Mosaic Co.	-	-	0.1%
DuPont Fabros Technology, Inc.	-	-	0.1%
Diamond Offshore Drilling, Inc.	4.875%	11/01/2043	0.1%
Fairpoint Communications, Inc.	7.500%	02/14/2019	0.1%
Hot Topic, Inc.	9.250%	06/15/2021	0.1%
US Concrete Inc	-	-	0.1%
Tesoro Logistics L.P.	5.875%	10/01/2020	0.1%
ACE INA Holdings, Inc.	4.350%	11/03/2045	0.1%
Banco Bilbao Vizcaya Argentaria, S.A.	9.000%	08/09/2099	0.1%
Fortive Corp	3.150%	06/15/2026	0.1%
Builders FirstSource, Inc.	7.625%	06/01/2021	0.1%
Cleveland Clinic	4.858%	01/01/2114	0.1%
Clayton Williams Energy, Inc.	7.750%	04/01/2019	0.1%
Gazprom OAO Via Gaz Capital SA	4.950%	02/06/2028	0.1%
Bahamas Government International Bond	5.750%	01/16/2024	0.1%
Pebblebrook Hotel Trust	-	-	0.1%
SACI Falabella	4.375%	01/27/2025	0.1%
Braskem Finance Ltd.	6.450%	02/03/2024	0.1%
Thompson Creek Metals Co., Inc.	7.375%	06/01/2018	0.1%
Centrais Eletricas Brasileiras SA	5.750%	10/27/2021	0.1%
Boston Scientific Corp.	-	-	0.1%
Mandatory Exchangeable Trust	-	06/01/2019	0.1%
QTS Realty Trust, Inc.	-	-	0.1%
Pactiv Corp.	7.950%	12/15/2025	0.1%
Charles River Laboratories International, Inc.	-	-	0.1%
COMM Mortgage Trust	4.443%	07/10/2050	0.1%
WPX Energy, Inc.	-	-	0.1%
Diamond 1 Finance Corp. / Diamond 2 Finance Corp.	4.420%	06/15/2021	0.1%
Priceline.com, Inc.	3.600%	06/01/2026	0.1%
Watco Cos. LLC / Watco Finance Corp.	6.375%	04/01/2023	0.1%
NASDAQ OMX Group, Inc.	3.850%	06/30/2026	0.1%
BMW US Capital LLC	2.800%	04/11/2026	0.1%
Vulcan Materials Co.	-	-	0.1%
Taco Bell Funding LLC	4.970%	05/25/2046	0.1%
Tesla Motors, Inc.	0.250%	03/01/2019	0.1%
Allstate Corp.	5.750%	08/15/2053	0.1%
UBS Group AG	7.000%	02/19/2099	0.1%
Cheniere Corpus Christi Holdings LLC	7.000%	06/30/2024	0.1%
Masonite International Corp.	5.625%	03/15/2023	0.1%
Arcor	6.000%	07/06/2023	0.1%
Southwestern Energy Co.	4.950%	01/23/2025	0.1%
Dr. Pepper Snapple Group, Inc.	4.500%	11/15/2045	0.1%
BlueLine Rental Finance Corp.	7.000%	02/01/2019	0.1%
Neptune Finco Corp.	10.125%	01/15/2023	0.1%
Monster Beverage Corp.	-	-	0.1%
MEG Energy Corp.	6.375%	01/30/2023	0.1%
Cielo S.A.	3.750%	11/16/2022	0.1%
Parsley Energy, Inc.	-	-	0.1%
Paraguay Government International Bond	4.625%	01/25/2023	0.1%
CSX Corp.	-	-	0.1%
TransUnion	-	-	0.1%
Drive Auto Receivables Trust 2016-B	4.530%	08/15/2023	0.1%
Netease.com, Inc.	-	-	0.1%
Trinidad & Tobago Government International Bond	4.500%	08/04/2026	0.1%
Hellenic Republic Government Bond	4.750%	04/17/2019	0.1%
JPMorgan Chase & Co.	6.750%	12/31/2099	0.1%
BWAY Holding Co.	9.125%	08/15/2021	0.1%
Reliance Steel & Aluminum Co.	-	-	0.1%
Huntington Ingalls Industries, Inc.	-	-	0.1%
Lloyds Banking Group plc	7.500%	06/27/2099	0.1%
VeriSign, Inc.	4.625%	05/01/2023	0.1%
Equinix, Inc.	-	-	0.1%
Texas Capital Bancshares, Inc.	-	-	0.1%
HCA, Inc.	5.875%	03/15/2022	0.1%
O'Reilly Automotive, Inc.	3.550%	03/15/2026	0.1%
IDACORP, Inc.	-	-	0.1%
Columbia Sportswear Co	-	-	0.1%
Moncler SpA	-	-	0.1%
Quintiles Transnational Corp.	4.875%	05/15/2023	0.1%
Patterson-UTI Energy, Inc.	-	-	0.1%
Gymboree Corp.	5.000%	02/23/2018	0.1%
Boyd Gaming Corp.	-	-	0.1%
Bristol-Myers Squibb Co.	-	-	0.1%
Molson Coors Brewing Co.	-	-	0.1%
Halliburton Co.	-	-	0.1%
Amaya B.V.	5.000%	08/01/2021	0.1%
Sonic Capital LLC	4.472%	05/20/2046	0.1%
Digicel Group Ltd.	8.250%	09/30/2020	0.1%
Delta 2 (Lux) S.a r.l (aka Formula One)	7.750%	07/29/2022	0.1%
Concho Resources, Inc.	-	-	0.1%
Northrop Grumman Corp.	-	-	0.1%
Virgin Media Finance plc	6.000%	10/15/2024	0.1%
Anglo American Capital plc	3.625%	05/14/2020	0.1%
NXP BV / NXP Funding LLC	4.625%	06/01/2023	0.1%
Mead Johnson Nutrition Co.	-	-	0.1%
FMR LLC	5.350%	11/15/2021	0.1%
Klabin Finance S.A.	5.250%	07/16/2024	0.1%
Angolan Government International Bond	9.500%	11/12/2025	0.1%
Hexion, Inc.	6.625%	04/15/2020	0.1%
Healthcare Trust of America Holdings LP	3.500%	08/01/2026	0.1%
Morgan Stanley	4.000%	07/23/2025	0.1%
Tronox Finance LLC	6.375%	08/15/2020	0.1%
Carter's, Inc.	-	-	0.1%
SM Energy Co.	6.500%	11/15/2021	0.1%
American Water Works Co., Inc.	-	-	0.1%
Chesapeake Energy Corp.	6.500%	08/15/2017	0.1%
Equifax, Inc.	-	-	0.1%
Murray Energy Corp.	7.500%	04/16/2020	0.1%
CyrusOne, Inc.	-	-	0.1%
MPG Holdco I, Inc.	7.375%	10/15/2022	0.1%
Panera Bread Co.	-	-	0.1%
Cablevision SA/Argentina	6.500%	06/15/2021	0.1%
Synovus Financial Corp.	7.875%	02/15/2019	0.1%
Dave & Buster's Entertainment, Inc.	-	-	0.1%
RCN Telecom Services LLC	8.500%	08/15/2020	0.1%
Informatica Corp.	7.125%	07/15/2023	0.1%
Halliburton Co.	3.800%	11/15/2025	0.1%
Playa Resorts Holding BV	8.000%	08/15/2020	0.1%
Nationstar Mortgage LLC / Nationstar Capital Corp.	6.500%	07/01/2021	0.1%
Ingles Markets, Inc.	5.750%	06/15/2023	0.1%
Bacardi Ltd.	2.750%	07/15/2026	0.1%
Jababeka International B.V.	7.500%	09/24/2019	0.1%
Fortescue Metals Group	4.250%	06/30/2019	0.1%
ACE Ltd.	-	-	0.1%
Aqua America, Inc.	-	-	0.1%
Building Materials Corp. of America	5.500%	02/15/2023	0.1%
CSL Capital, LLC	8.250%	10/15/2023	0.1%
Marfrig Holdings Europe B.V.	8.000%	06/08/2023	0.1%
Tesoro Logistics L.P.	6.125%	10/15/2021	0.1%
Ensco plc	5.200%	03/15/2025	0.1%
Silver II Borrower / Silver II US Holdings LLC	7.750%	12/15/2020	0.1%
Hanesbrands, Inc.	4.875%	05/15/2026	0.1%
Six Flags Entertainment Corp.	-	-	0.1%
Discover Bank	7.000%	04/15/2020	0.1%
Kraton Performance Polymers, Inc.	6.000%	01/06/2022	0.1%
Navient Corp.	5.000%	10/26/2020	0.1%
Citizens Financial Group, Inc.	4.350%	08/01/2025	0.1%
Digital Realty Trust, Inc.	-	-	0.1%
Coca-Cola Bottling Co. Consolidated	3.800%	11/25/2025	0.1%
W.R. Grace & Co.	-	-	0.1%
Macquarie Group Ltd.	6.000%	01/14/2020	0.1%
CubeSmart L.P.	4.000%	11/15/2025	0.1%
Ply Gem Industries, Inc.	6.500%	02/01/2022	0.1%
Commonwealth Bank of Australia	4.500%	12/09/2025	0.1%
Air Canada 2015-2 Class A Pass Through Trust	4.125%	12/15/2027	0.1%
Core Laboratories NV	-	-	0.1%
Berkshire Hathaway, Inc.	3.125%	03/15/2026	0.1%
Eclipse Resources Corp.	8.875%	07/15/2023	0.1%
SBA Communications Corp.	4.875%	07/15/2022	0.1%
Province of Neuquen	8.625%	05/12/2028	0.1%
Bank of America Corp.	4.200%	08/26/2024	0.1%
McDonald's Corp.	3.700%	01/30/2026	0.1%
Anglo American Capital plc	9.375%	04/08/2019	0.1%
TD Ameritrade Holding Corp.	2.950%	04/01/2022	0.1%
Windstream Services LLC	5.750%	03/14/2021	0.1%
CWGS Group	5.750%	02/20/2020	0.1%
JPMorgan Chase & Co.	3.900%	07/15/2025	0.1%
Memorial Resource Development Corp.	-	-	0.1%
Puget Energy, Inc.	3.650%	05/15/2025	0.1%
Berkshire Hathaway, Inc.	2.750%	03/15/2023	0.1%
Spectrum Brands, Inc.	5.750%	07/15/2025	0.1%
Helmerich & Payne, Inc.	-	-	0.1%
Reynolds Group Issuer, Inc.	7.000%	07/15/2024	0.1%
Consolidated Communications, Inc.	6.500%	10/01/2022	0.1%
Huntington Ingalls Industries, Inc.	5.000%	12/15/2021	0.1%
MGM Resorts International	7.750%	03/15/2022	0.1%
Dignity Health	3.812%	11/01/2024	0.1%
Chassix, Inc.	12.000%	07/29/2019	0.1%
JBS USA LLC/JBS USA Finance, Inc.	5.875%	07/15/2024	0.1%
Letras del Banco Central de la Republica Argentina	0.000%	11/30/2016	0.1%
FTS International, Inc.	8.153%	06/15/2020	0.1%
VeriSign, Inc.	5.250%	04/01/2025	0.1%
Sirius XM Radio, Inc.	6.000%	07/15/2024	0.1%
NES Rentals Holdings, Inc.	7.875%	05/01/2018	0.1%
Bank of America Corp.	6.500%	12/31/2099	0.1%
Impact Funding Affordable Multifamily Housing Mort	6.000%	01/25/2051	0.1%
Westcott Park Clo Ltd.	5.007%	07/20/2028	0.1%
New Gold, Inc.	7.000%	04/15/2020	0.1%
Government of Jamaica	8.000%	03/15/2039	0.1%
Builders FirstSource, Inc.	10.750%	08/15/2023	0.1%
Kallpa Generacion SA	4.875%	05/24/2026	0.1%
Citigroup Commercial Mortgage Trust	4.625%	01/14/2043	0.1%
New Albertson's, Inc.	7.450%	08/01/2029	0.1%
Pertamina Persero PT	5.625%	05/20/2043	0.1%
Continental Resources, Inc.	5.000%	09/15/2022	0.1%
Wave Holdco LLC	8.250%	07/15/2019	0.1%
Marathon Oil Corp.	2.800%	11/01/2022	0.1%
TruGreen Limited Partnership	6.500%	04/08/2023	0.1%
Bill Barrett Corp.	7.000%	10/15/2022	0.1%
Carrizo Oil & Gas, Inc.	7.500%	09/15/2020	0.1%
Sotheby's	5.250%	10/01/2022	0.1%
American Equity Investment Life Holding Co.	6.625%	07/15/2021	0.1%
ONEOK, Inc.	4.250%	02/01/2022	0.1%
Cleco Corp.	3.743%	05/01/2026	0.1%
Morgan Stanley Bank of America Merrill Lynch Trust	4.750%	12/15/2046	0.1%
Ameren Energy Generating Co.	7.000%	04/15/2018	0.1%
Serta Simmons Holdings LLC	8.125%	10/01/2020	0.1%
Jonah Energy	7.500%	05/12/2021	0.1%
Banco de Galicia y Buenos Aires	8.250%	07/19/2026	0.1%
Communications Sales & Leasing, Inc.	-	-	0.1%
Taco Bell Funding LLC	4.377%	05/25/2046	0.1%
Yamana Gold, Inc.	4.950%	07/15/2024	0.1%
ARC Properties Operating Partnership L.P.	4.600%	02/06/2024	0.1%
Louisville Gas & Electric Co.	4.375%	10/01/2045	0.1%
COMM Mortgage Trust	4.612%	09/10/2047	0.1%
Teck Resources Ltd.	8.500%	06/01/2024	0.1%
GLP Capital L.P. / GLP Financing II, Inc.	5.375%	04/15/2026	0.1%
Banco Bradesco SA	5.900%	01/16/2021	0.1%
CCO Holdings LLC / CCO Holdings Capital Corp.	5.125%	05/01/2023	0.1%
AngloGold Ashanti Holdings plc	6.500%	04/15/2040	0.1%
MMAF Equipment Finance LLC	2.210%	12/15/2032	0.1%
Republic of Argentina	7.625%	04/22/2046	0.1%
Tesoro Logistics L.P.	5.500%	10/15/2019	0.1%
HCA, Inc.	7.580%	09/15/2025	0.1%
Amsurg Corp.	5.625%	07/15/2022	0.1%
Centene Corp.	5.625%	02/15/2021	0.1%
Impact Funding Affordable Multifamily Housing Mort	6.381%	01/25/2051	0.1%
Celanese US Holdings LLC	5.875%	06/15/2021	0.1%
JBS USA LLC/JBS USA Finance, Inc.	5.750%	06/15/2025	0.1%
BI-LO LLC	9.250%	02/15/2019	0.1%
Kosmos Energy Ltd.	7.875%	08/01/2021	0.1%
MEDNAX, Inc.	5.250%	12/01/2023	0.1%
BakerCorp	4.250%	02/07/2020	0.1%
Kinetic Concepts, Inc. / KCI USA, Inc.	7.875%	02/15/2021	0.1%
Virgin Media Secured Finance plc	5.375%	04/15/2021	0.1%
Cayman Islands Government Bond	5.950%	11/24/2019	0.1%
Stryker Corp.	3.500%	03/15/2026	0.1%
Arcos Dorados Holdings, Inc.	6.625%	09/27/2023	0.1%
Letras del Banco Central de la Republica Argentina	0.000%	12/28/2016	0.1%
Masco Corp.	4.375%	04/01/2026	0.1%
Macquarie Bank Ltd.	1.600%	10/27/2017	0.1%
Gibraltar Industries, Inc.	-	-	0.1%
Nemak S.A.B. de C.V.	5.500%	02/28/2023	0.1%
JMC Steel Group	9.875%	06/15/2023	0.1%
D.R. Horton, Inc.	4.750%	02/15/2023	0.1%
Telefonica Celular del Paraguay SA	6.750%	12/13/2022	0.1%
UBS AG	7.625%	08/17/2022	0.1%
Acadia Healthcare Co., Inc.	6.500%	03/01/2024	0.1%
Oasis Petroleum, Inc.	6.875%	03/15/2022	0.1%
Eagle Materials, Inc.	4.500%	08/01/2026	0.1%
Buenos Aires, Argentina	7.500%	06/01/2027	0.1%
Belden, Inc.	-	07/15/2019	0.1%
Oxbow Carbon & Mineral	8.000%	01/17/2020	0.1%
MPT Operating Partnership L.P.	5.250%	08/01/2026	0.1%
Glencore Finance Canada Ltd.	4.250%	10/25/2022	0.1%
Leaf Receivables Funding 11 LLC	2.490%	04/15/2022	0.1%
Patheon NV	-	-	0.1%
AGL Capital Corp.	3.250%	06/15/2026	0.1%
Blue Coat Holdings, Inc.	8.375%	06/01/2023	0.1%
Penumbra, Inc.	-	-	0.1%
SESI LLC	7.125%	12/15/2021	0.1%
Teck Resources Ltd.	-	-	0.1%
Fairmount Minerals	4.500%	09/05/2019	0.1%
XPO Logistics, Inc.	7.875%	09/01/2019	0.1%
Lamar Media Corp.	5.750%	02/01/2026	0.1%
Empresa Distribuidora Y Comercializadora Norte	9.750%	10/25/2022	0.1%
Glaukos Corp.	-	-	0.1%
Netflix, Inc.	5.375%	02/01/2021	0.1%
Fortune Brands Home & Security, Inc.	-	-	0.1%
PepsiCo, Inc.	4.250%	10/22/2044	0.1%
Bonanza Creek Energy, Inc.	6.750%	04/15/2021	0.1%
Amplify Snack Brands, Inc.	-	-	0.1%
Fresenius Medical Care US Finance II, Inc.	4.750%	10/15/2024	0.1%
The Royal Bank of Scotland Group PLC	5.125%	05/28/2024	0.1%
Paraguay Government International Bond	5.000%	04/15/2026	0.1%
Braskem Finance Ltd.	5.375%	05/02/2022	0.1%
MGM Growth Properties Operating Partnership LP / M	5.625%	05/01/2024	0.1%
Constellation Brands, Inc.	4.750%	11/15/2024	0.1%
Republic of Argentina	7.500%	04/22/2026	0.1%
Voya CLO 2016-2 Ltd.	4.932%	07/19/2028	0.1%
AES Corp.	7.375%	07/01/2021	0.1%
Arista Networks, Inc.	-	-	0.1%
AES Corp.	5.500%	04/15/2025	0.1%
Fortive Corp	4.300%	06/15/2046	0.1%
Apex Tool Group LLC	7.000%	02/01/2021	0.1%
Becton, Dickinson & Co.	-	-	0.1%
Edwards Lifesciences Corp.	2.875%	10/15/2018	0.1%
Windstream Corp.	7.750%	10/15/2020	0.1%
Halliburton Co.	5.000%	11/15/2045	0.1%
William Lyon Homes	-	12/01/2017	0.1%
Huntington Ingalls Industries, Inc.	5.000%	11/15/2025	0.1%
Ingredion, Inc.	-	-	0.1%
Mediacom Communications Corp.	7.250%	02/15/2022	0.1%
SAIC, Inc.	4.450%	12/01/2020	0.1%
Boise Cascade Co.	-	-	0.1%
LGI Homes, Inc.	-	-	0.1%
Trinseo Materials Operating SCA	6.750%	05/01/2022	0.1%
1011778 BC ULC / New Red Finance, Inc.	6.000%	04/01/2022	0.1%
Millar Western Forest Products Ltd.	8.500%	04/01/2021	0.1%
Flagstar Bancorp Inc	-	-	0.1%
Edgewell Personal Care Co.	4.700%	05/24/2022	0.1%
CyberArk Software Ltd.	-	-	0.1%
Kate Spade & Co.	-	-	0.1%
Post Holdings, Inc.	8.000%	07/15/2025	0.0%
Lam Research Corp.	2.800%	06/15/2021	0.0%
Kansas City Southern	3.125%	06/01/2026	0.0%
2U, Inc.	-	-	0.0%
Letras del Banco Central de la Republica Argentina	0.000%	12/14/2016	0.0%
Moxie Liberty LLC	7.500%	08/21/2020	0.0%
Gray Television, Inc.	7.500%	10/01/2020	0.0%
Sri Lanka (Democratic Socialist Republic of)	6.250%	07/27/2021	0.0%
ALM XVIII Ltd.	0.000%	07/15/2027	0.0%
Viacom, Inc.	5.250%	04/01/2044	0.0%
Marathon Oil Corp.	3.850%	06/01/2025	0.0%
Unitymedia GmbH	6.125%	01/15/2025	0.0%
Momentive Performance Materials, Inc.	3.880%	10/24/2021	0.0%
Diamondback Energy, Inc.	-	-	0.0%
ATI Physical Therapy Hldgs LLC	5.500%	04/21/2023	0.0%
Callon Petroleum Co	-	-	0.0%
Kinetic Concepts, Inc. / KCI USA, Inc.	10.500%	11/01/2018	0.0%
HD Supply, Inc.	5.750%	04/15/2024	0.0%
SMU S.A.	7.750%	02/08/2020	0.0%
Leaf Receivables Funding 11 LLC	2.050%	06/15/2019	0.0%
Itron, Inc.	-	-	0.0%
BlueMountain CLO 2016-1 Ltd	5.425%	04/20/2027	0.0%
OHA Loan Funding Ltd.	4.315%	07/23/2025	0.0%
The Royal Bank of Scotland Group PLC	6.100%	06/10/2023	0.0%
Templar Energy LLC	8.500%	11/25/2020	0.0%
Sanchez Energy Corp.	6.125%	01/15/2023	0.0%
Consol Energy, Inc.	5.875%	04/15/2022	0.0%
ALM XIX LLC	4.984%	07/15/2028	0.0%
SESI LLC	6.375%	05/01/2019	0.0%
Container Store	4.250%	04/06/2019	0.0%
Sri Lanka (Democratic Socialist Republic of)	6.250%	10/04/2020	0.0%
BakerCorp International, Inc.	8.250%	06/01/2019	0.0%
Kissner Milling Co Ltd.	7.250%	06/01/2019	0.0%
Bumble Bee Holdings, Inc.	9.000%	12/15/2017	0.0%
HCA, Inc.	7.050%	12/01/2027	0.0%
GCP Applied Technologies, Inc.	9.500%	02/01/2023	0.0%
Duke Finance LLC	7.000%	10/28/2021	0.0%
Anchorage Capital CLO 7 Ltd	4.330%	10/15/2027	0.0%
KKR Financial CLO 2013-2 Ltd.	4.388%	01/23/2026	0.0%
Gulfport Energy Corp.	6.625%	05/01/2023	0.0%
FTS International	5.750%	04/16/2021	0.0%
ITC Holdings Corp.	3.250%	06/30/2026	0.0%
The Royal Bank of Scotland Group PLC	6.000%	12/19/2023	0.0%
Brunswick Corp.	4.625%	05/15/2021	0.0%
Chaparral Energy, Inc.	8.250%	09/01/2021	0.0%
Letras del Banco Central de la Republica Argentina	0.000%	01/11/2017	0.0%
Energy Future Intermediate Holding Co. LLC / EFIH	11.250%	12/01/2018	0.0%
Citigroup Commercial Mortgage Trust	4.625%	01/14/2043	0.0%
HCA, Inc.	8.360%	04/15/2024	0.0%
Precision Drilling Corp.	6.500%	12/15/2021	0.0%
Teck Resources Ltd.	3.000%	03/01/2019	0.0%
T-Mobile USA, Inc.	6.836%	04/28/2023	0.0%
Anglo American Capital plc	4.875%	05/14/2025	0.0%
TreeHouse Foods, Inc.	4.875%	03/15/2022	0.0%
Anchorage Capital CLO Ltd	4.169%	07/13/2025	0.0%
Lennar Corp.	4.750%	05/30/2025	0.0%
Anchorage Capital CLO 8 Ltd.	4.921%	07/28/2028	0.0%
IPALCO Enterprises, Inc.	3.450%	07/15/2020	0.0%
FX USD/EUR 08/16	-	08/16/2016	0.0%
Gerdau Trade, Inc.	4.750%	04/15/2023	0.0%
ION Media	-	-	0.0%
River Rock Entertainment Authority	9.000%	11/01/2018	0.0%
William Lyon Homes, Inc.	8.500%	11/15/2020	0.0%
Chesapeake Energy Corp.	7.250%	12/15/2018	0.0%
FTS International, Inc.	6.250%	05/01/2022	0.0%
Impact Funding Affordable Multifamily Housing Mort	0.342%	08/25/2047	0.0%
Anglo American Capital plc	4.125%	04/15/2021	0.0%
Ply Gem Industries, Inc.	6.500%	02/01/2022	0.0%
OGX Petroleo e Gas S.A.	-	-	0.0%
Mirabela Nickel Ltd.	-	-	0.0%
Oxbow Carbon & Mineral	4.250%	07/19/2019	0.0%
Brookstone Holdings Corp.	2.500%	07/07/2021	0.0%
US LONG BOND(CBT) SEP16	0.000%	09/30/2016	0.0%
US 5YR NOTE (CBT) SEP16	0.000%	10/05/2016	0.0%
Mirabela Nickel Ltd.	1.000%	09/16/2044	0.0%
General Motors Co.	8.375%	07/15/2033	0.0%
OGX Austria GmbH	8.500%	06/01/2018	0.0%
FX EUR/USD 08/16	-	08/16/2016	0.0%
US 10YR NOTE (CBT)SEP16	0.000%	09/30/2016	0.0%
FX USD/GBP 10/16	-	10/19/2016	0.0%
FX USD/GBP 10/16	-	10/19/2016	0.0%

Dividends & Cap Gains

Dividend Payments

For

YTD Dividends Paidas of 09/27/2016: $0.241
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	08/31/2016	$0.03289	$7.92
Daily	Daily	07/31/2016	$0.03001	$7.84
Daily	Daily	06/30/2016	$0.03035	$7.66
Daily	Daily	05/31/2016	$0.03002	$7.61
Daily	Daily	04/30/2016	$0.02909	$7.59
Daily	Daily	03/31/2016	$0.02987	$7.43
Daily	Daily	02/29/2016	$0.02965	$7.18
Daily	Daily	01/31/2016	$0.02936	$7.22

Upcoming Dividend Payment Dates

Record Date	Ex-Dividend Date	Reinvest & Payable Date
Daily	Daily	09/30/2016
Daily	Daily	10/31/2016
Daily	Daily	11/30/2016
Daily	Daily	12/31/2016

Capital Gains Distributions

For

Record Date	Reinvest & Payable Date	Long-term	Short-term *	Total	Reinvest Price
07/30/2015	07/31/2015	$0.0562	$0.0027	$0.0589	$7.93

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor.

Upcoming Capital Gain Distribution

Record Date	Ex-Dividend Date
12/15/2016	12/16/2016

Fees & Expenses

Sales Charge Schedule as of 09/27/2016

	Sales Charge	Dealer's Concession	Prices at Breakpoint
Less than $100,000	2.25%	2.00%	$8.09
$100,000 to $249,999	1.75%	1.50%	$8.05
$250,000 to $499,999	1.25%	1.00%	$8.01
$500,000 to $999,999	0.00%	1.00%	$7.91
$1,000,000 to $5,000,000	0.00%	1.00%	$7.91

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers Click here.

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

Rights of Accumulation - A purchaser may combine the value of Class A, B, C, F, and P shares of any eligible fund currently owned with a new purchase of Class A shares of any eligible fund in order to reduce the sales charge on the new purchase. Class I, R2, and R3 share holdings may not be combined for these purposes.

To the extent that your financial intermediary is able to do so, the value of Class A, B, C, F, and P shares of eligible funds determined for the purpose of reducing the sales charge of a new purchase under the Rights of Accumulation will be calculated at the higher of: 1) the aggregate current maximum offering price of your existing Class A, B, C, F, and P shares of eligible funds or 2) the aggregate amount you invested in such shares (including dividend reinvestments but excluding capital appreciation) less any withdrawals. You should retain any information and account records necessary to substantiate the historical amounts you and any related purchasers have invested in eligible funds. You must inform a fund and/or your financial intermediary at the time of purchase if you believe your purchase qualifies for a reduced sales charge; you may be requested to provide documentation of your holdings in order to verify your eligibility. If you do not do so, you may not receive all sales charge reductions for which you are eligible.
Letter of Intention — In order to reduce your Class A front-end sales charge, a purchaser may combine purchases of Class A, B, C, F, and P shares of any eligible fund the purchaser intends to make over the next 13 months in determining the applicable sales charge. The 13-month Letter of Intention period commences on the day that the Letter of Intention is received by a fund, and the purchaser must tell a fund that later purchases are subject to the Letter of Intention. Purchases submitted prior to the date the Letter of Intention is received by a fund are not counted toward the sales charge reduction. Current holdings under Rights of Accumulation may be included in a Letter of Intention in order to reduce the sales charge for purchases during the 13-month period covered by the Letter of Intention. Shares purchased through reinvestment of dividends or distributions are not included. Class I, R2, and R3 share holdings may not be combined for these purposes. Class A shares valued at 5% of the amount of intended purchases are escrowed and may be redeemed to cover the additional sales charges payable if the intended purchases under the Letter of Intention is not completed. The Letter of Intention is neither a binding obligation on you to buy nor on a fund to sell any or all of an intended purchase amount.

Purchaser — A purchaser includes: 1) an individual; 2) an individual, his or her spouse, and children under the age of 21; 3) retirement and benefit plans, including a 401(k) plan, profit-sharing plan, money purchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, nonprofit organization, school district, or church to which employer contributions are made, as well as SIMPLE IRA plans and SEP-IRA plans; or 4) a trustee or other fiduciary purchasing shares for a single trust, estate, or single fiduciary account. An individual may include under item (1) his or her holdings in eligible funds as described above in IRAs, as a sole participant of a retirement and benefit plan sponsored by the individual's business, and as a participant in a 403(b) plan to which only pretax salary deferrals are made. An individual and his or her spouse may include under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit plans sponsored by a business owned by either or both of them. A retirement and benefit plan under item (3) includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries, and all qualified retirement and benefit plans of multiple employers registered in the name of a single bank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

purchases of $1 million or more (may be subject to a CDSC);
purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

Expense Ratioas of 08/31/2016

Fund Review

Market Review as of 06/30/2016

Major categories of U.S. fixed income securities posted positive returns for the second quarter of 2016, with high yield credit outperforming investment grade bonds, driven by the recovery in commodity prices and the continued search for yield. Volatility increased towards the end of the quarter, capped off by the United Kingdom’s decision to exit the European Union. After side-stepping for the most part the landmine that was “Brexit,” securities markets grinded higher into the end of the quarter, buoyed by accommodative central banks.

Following its policy meeting on June 14–15, the U.S. Federal Reserve (Fed) released a statement indicating that the pace of improvement in the labor market had slowed, noting that job gains had diminished despite the lower unemployment rate. On the other side, growth in economic activity appeared to have picked up, driven by growth in household spending. The Fed again noted that inflation is expected to remain low in the near term, in part because of earlier declines in energy prices, but is expected to rise to 2% over the medium term as the transitory effects of past declines in energy and import prices dissipate and the labor market strengthens further. During the June meeting, the Fed decided to maintain its target for the Federal Funds Rate in the range of 0.25–0.50%, and declared “the stance of monetary policy remains accommodative, thereby supporting further improvement in labor market conditions and a return to 2% inflation.”¹ Fed policymakers’ median projected estimate for the fed funds fell to 0.9% for the end of 2016.²

U.S. inflation continued to struggle in reaching the Fed’s 2% inflation target, as the overall Consumer Price Index (CPI)³ increased just 1.0% over the 12-month period ended May 2016. CPI (excluding food and energy prices) increased 2.2% over the same 12-month period.⁴

The U.S. Bureau of Labor Statistics reported that non-farm payrolls increased by just 38,000 in May, below the trailing three-month average monthly gain of 116,000. The change in total nonfarm payroll employment for March and April were also revised lower, resulting in employment gains that were 59,000 less than had been previously reported over these two months. Despite the slowing pace of job growth, the unemployment rate declined from 5.0 to 4.7%.⁵

U.S. Treasuries (as represented by the BofA Merrill Lynch U.S. Treasury Index⁶) posted a return of 2.24% for the three-month period ended June 30, 2016. The high yield bond market (as represented by the BofA Merrill Lynch U.S. High Yield Constrained Index⁷) posted a positive return of 5.88% for the quarter, and is now positive 9.32% year to date. The floating rate loan market (as represented by the Credit Suisse Leveraged Loan Index⁸) returned 2.86%, outperforming the broad Barclays U.S. Aggregate Bond Index⁹, with performance driven by lower rated loans. The convertible bond market (as represented by the BofA Merrill Lynch All Convertibles, All Qualities Index¹⁰) returned 3.63%, also benefitting from a rally in risk assets.

Among higher credit quality securities, investment grade corporate debt (as represented by the Barclays U.S. Corporate Bond Index¹¹) posted a return of 3.57%. Corporate bond spreads continued to tighten during the quarter from the wide levels reached in early February, a period of extreme risk aversion. Agency mortgage-backed securities (as represented by the Barclays MBS Index¹²) returned 1.11%. Commercial MBS (CMBS) (as represented by the Barclays U.S. CMBS Investment Grade Index¹³) returned 2.22%.

The municipal bond market (as represented by the BofA Merrill Lynch U.S. Municipal Securities Index¹⁴) posted a 2.72% return, outperforming the BofA Merrill Lynch U.S. Treasury Index, even before accounting for the tax exempt status of municipal bonds. Overall creditworthiness in the municipal bond market continues to improve, as most states’ finances experienced rising revenues, while maintaining balanced budgets.

Within emerging markets, the major drivers of strong performance included a dovish Fed, a weaker U.S. dollar, and a strong rally in commodity prices. Thus, U.S. dollar-denominated emerging markets corporate debt (as measured by the JP Morgan Corporate Emerging Markets Bond Index Broad Diversified Index¹⁵)returned 3.33%, underperforming most U.S.-centric, fixed income asset classes.

According to J.P. Morgan Securities, high yield new issue volume tapered somewhat in June with the Brexit vote serving as an overhang. High yield issuance totaled $104.1 billion for second quarter 2016, which was a 19% decrease from the year-ago quarter, but a 103% improvement from the first quarter of 2016. June’s institutional loan issuance was the heaviest in more than three years, reaching $73.0 billion, a by-product of a big increase in re-pricing and refinancing activity. Institutional loan volume has climbed, to $161.0 billion year to date, compared with $207.5 billion a year ago. Default activity fell in June, to a year-to-date-low, as two companies defaulted, totaling $1.4 billion. This marked the lowest number of defaults since October 2015, and is the third consecutive month-over-month decline. Year to date, 37 companies have defaulted, with debt totaling $43.8 billion ($35.2 billion in bonds and $8.6 billion in loans), which is already 16% higher than full-year 2015’s $37.7 billion of total default volume. It should be noted that default activity has been driven by companies in the energy and metals/mining sectors, with over 80% of this year’s default volume coming from commodity-related names, according to J.P. Morgan Securities.

Fund Reviewas of 06/30/2016

The Fund* outperformed its benchmark, the Barclays U.S. Aggregate Bond Index,⁹ for the quarter ended June 30, 2016.

The broader high yield fixed income markets outperformed the investment grade markets during the quarter. As a result, the Fund’s relative weighting in high yield securities contributed to performance. Within the Fund’s investment grade bond allocation, we continue to favor U.S. corporate bonds over U.S. Treasuries due to strong corporate credit fundamentals, by historical standards, and the low absolute yields of U.S. Treasuries.

Within the credit-sensitive portion of the Fund, top contributors included bonds of energy company Meg Energy and mining company Freeport-McMoRan, Inc. Top detractors included a frozen merchandise distributor, Core-Mark Holdings, Inc. and clothing retailer Express, Inc.

In addition, in the credit-sensitive portion of the Fund, we are defensively positioned in the health care and telecom sectors. Concerns relating to the pharmaceutical industry and a loss of earnings momentum in hospitals drove the decision to reduce exposure to health care during the quarter, while competitive pressures within the telecom space compelled defensive positioning therein. We continued to add to the positions in the energy sector. We have found opportunities in select exploration and production companies trading at attractive valuations.

Although volatility in the credit markets remained elevated in the second quarter, especially with the surprise decision by the United Kingdom to exit the European Union, high yield bonds posted strong gains during the quarter, outperforming the majority of fixed income asset classes. We believe volatility may continue, as markets digest further political and economic uncertainty surrounding the Brexit decision, its impact on global growth, and the implications for central bank policy.

Please refer to www.lordabbett.com under the “Portfolio” tab for a complete list of holdings of the Fund, including the securities discussed above.

Outlook

The United Kingdom’s decision to depart from the European Union has introduced a great deal of uncertainty into the market; as such, we believe central banks will remain accommodative in order to stabilize markets and foster global growth. Further accommodation and a global search for yield should benefit risk assets, as long as central bank actions remain consistent with one another. Although fears have abated to a degree about China’s economic slowdown, and the possibility of disruptive currency devaluation, the economic situation there remains another area of uncertainty. The Chinese economy is a critical component of the global economy, and particularly for the Asian region. Further instability has the potential to disrupt global markets.

Broadly speaking, we remain generally optimistic that the U.S. economy will continue to grow at a steady, albeit subpar, pace. We still view credit-sensitive sectors of the market as representing attractive relative value, although we do believe that there is the potential for episodes of further spread widening, as the market continues to struggle with low global growth. We maintain a modest overweight to ‘CCC’ credits that have attractive valuations. In addition, we like the energy and basic materials sectors, where valuations present attractive opportunities, as many companies in the space are focused on healing their balance sheets due to improving supply demand imbalance.

*Class A Share at net asset value (NAV). For the latest NAV, including maximum sales charges (MOP) performance information, visit us at lordabbett.com. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted.

¹“Press Release—Federal Reserve Issues FOMC Statement," Federal Reserve, June 15, 2016.

²“Economic Projections of Federal Reserve Board Members and Federal Reserve Bank Presidents, June 2016,” Federal Reserve, June 15, 2016.

³The Consumer Price Index (CPI) measures the price changes for each item in a predetermined basket of goods and services, and the inputs are weighted according to their importance to consumers.

⁴“News Release: Consumer Price Index Summary,” Bureau of Labor Statistics, June 16, 2016.

⁵“News Release: Employment Situation Summary,” Bureau of Labor Statistics, June 3, 2016.

⁶The BofA Merrill Lynch U.S. Treasury Index tracks the performance of U.S. dollar-denominated sovereign debt publicly issued by the U.S. government in its domestic market. Qualifying securities must have at least one year remaining term to final maturity, a fixed coupon schedule, and a minimum amount outstanding of $1 billion. Qualifying securities must have at least 18 months to final maturity at the time of issuance. Callable perpetual securities qualify provided they are at least one year from the first call date. Fixed-to-floating rate securities also qualify provided they are callable within the fixed rate period and are at least one year from the last call prior to the date the bond transitions from a fixed to a floating-rate security. Bills, inflation-linked debt, and strips are excluded from the index; however, original issue zero coupon bonds are included in the index and the amounts outstanding of qualifying coupon securities are not reduced by any portions that have been stripped. Securities issued or marketed primarily to retail investors do not qualify for inclusion in the index. Index constituents are capitalization-weighted based on their current amount outstanding times the market price plus accrued interest.

⁷The BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization‐weighted index of all U.S. dollar-denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment-grade rating (based on an average of Moody’s, Standard & Poor’s, and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro‐rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro‐rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro‐rata basis.

⁸The Credit Suisse Leveraged Loan Index is designed to mirror the investable universe of the U.S. dollar-denominated leveraged loan market. The CS Leveraged Loan Index, which includes reinvested dividends, has been taken from published sources.

⁹The Barclays U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment.

¹⁰The BofA Merrill Lynch All Convertibles, All Qualities Index contains issues that have a greater than $50 million aggregate market value. The issues are U.S. dollar-denominated, sold into the U.S. market, and publicly traded in the United States.

¹¹The Barclays U.S. Corporate Bond Index includes all publicly held issued, fixed-rate, nonconvertible investment-grade corporate debt. The index is composed of both U.S. and Brady bonds.

¹²The Barclays Mortgage-Backed Securities Index is an unmanaged index composed of all fixed securities mortgage pools by GNMA, FNMA, and the FHLMC, including GNMA graduated payment mortgages.

¹³The Barclays U.S. CMBS Investment Grade Index measures the market of conduit and fusion CMBS deals with a minimum current deal size of $300 million. The index is divided into two subcomponents: the U.S. Aggregate-eligible component, which contains bonds that are ERISA eligible under the underwriter's exemption, and the non-U.S. Aggregate-eligible component, which consists of bonds that are not ERISA eligible.

¹⁴The BofA Merrill Lynch U.S. Municipal Securities Index tracks the performance of U.S. dollar-denominated investment-grade tax-exempt debt publicly issued by U.S. states and territories, and their political subdivisions, in the U.S. domestic market. Qualifying securities must have at least one year remaining term to final maturity, a fixed coupon schedule, and an investment-grade rating (based on an average of Moody’s, Standard & Poor’s, and Fitch). Minimum size requirements vary based on the initial term to final maturity at time of issuance. Securities with an initial term to final maturity greater than or equal to one year and less than five years must have a current amount outstanding of at least $10 million. Securities with an initial term to final maturity greater than or equal to five years and less than 10 years must have a current amount outstanding of at least $15 million. Securities with an initial term to final maturity of 10 years or more must have a current amount outstanding of at least $25 million. The call date on which a pre-refunded bond will be redeemed is used for purposes of determining qualification with respect to final maturity requirements. Original issue zero coupon bonds are included in the index. Taxable municipal securities and 144a securities are excluded from the index.

¹⁵The J.P. Morgan Corporate Emerging Markets Bond Index Broad Diversified (CEMBI BD) is a market capitalization-weighted index that tracks total returns of U.S. dollar-denominated debt instruments issued by corporate entities in emerging markets countries. The index limits the current face amount allocations of the bonds in the CEMBI Broad by constraining the total face amount outstanding for countries with larger debt stocks.

The indexes are presented for informational purposes only and are not presented to illustrate any specific product or security. Unless otherwise specified, indexes reflect total return, with all dividends reinvested. Indexes are unmanaged, do not reflect the deductions of fees or expenses, and are not available for direct investment. Past performance is not a reliable indicator or guarantee of future results.

Treasuries are debt securities issued by the U.S. government and secured by its full faith and credit. Income from Treasury securities is exempt from state and local taxes. Although U.S. government securities are guaranteed as to payments of interest and principal, their market prices are not guaranteed and will fluctuate in response to market movements.

The yield spread is the difference between yields on differing debt instruments, calculated by deducting the yield of one instrument from another. The higher the yield spread, the greater the difference between the yields offered by each instrument. The spread can be measured between debt instruments of differing maturities, credit ratings and risk.

The Fund’s portfolio is actively managed and, therefore, its holdings and the weightings of a particular issuer or particular sector as a percentage of portfolio assets may change significantly over time. Sectors may include many industries. The mention of specific portfolio holdings is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.

The credit quality of the securities in a portfolio are assigned by a nationally recognized statistical rating organization (NRSRO), such as Standard & Poor’s, Moody’s, or Fitch, as an indication of an issuer’s creditworthiness. Ratings range from ‘AAA’ (highest) to ‘D’ (lowest). Bonds rated ‘BBB’ or above are considered investment grade. Credit ratings ‘BB’ and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer’s ability to pay interest and principal on these securities.

A Note about Risk: The Fund is subject to the general risks and considerations associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of your investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when rates rise, the prices of debt securities are likely to decline. 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. The Fund may make substantial investments in high-yield debt securities and may invest in senior loans which may be primarily below investment grade. High-yield securities, sometimes called junk bonds, carry increased risks of price volatility, illiquidity, and the possibility of default in timely payment of interest and expenses. The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies and/or sectors in the economy. Convertible securities are subject to the risks affecting both equity and fixed-income securities, including market, credit, liquidity, and interest rate risk. These factors can affect Fund performance.

Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal, and they also may be subject to call, liquidity and general market risks. Mortgage-backed securities may be subject to pre-payment risk.

The views and information discussed in this commentary are as of June 30, 2016, are subject to change, and may not reflect the views of the firm as a whole. The views expressed in market commentaries are at a specific point in time, are opinions only, and should not be relied upon as a forecast, or research or investment advice regarding a particular investment or the markets in general. Information discussed should not be considered a recommendation to purchase or sell securities.

Fund Documents

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	Summary Prospectus Publish Date:11/03/2015
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	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
	Flyer Publish Date:11/03/2015
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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

The Fund’s Dividend Yield and 12-Month Dividend Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

IMPORTANT INFORMATION

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of your investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. 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. The Fund may make substantial investments in high-yield debt securities and may invest in senior loans which may be primarily below-investment-grade. High-yield securities, sometimes called junk bonds, carry increased risks of price volatility, illiquidity, and the possibility of default in timely payment of interest and expenses. The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies and/or sectors in the economy. Convertible securities are subject to the risks affecting both equity and fixed-income securities, including market, credit, liquidity, and interest rate risk. These factors can affect Fund performance.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

Class A Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns shown at less than a year reflect aggregate total returns.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

The Barclays U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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Load & Load Waived

Share

Summary

Summary

What is the Bond Debenture Fund?

The Fund seeks to deliver high current income and long-term growth of capital by investing primarily in a variety of fixed income securities and select equity-related securities.

A PIONEER IN MULTI-SECTOR

A FLEXIBLE APPROACH

TIME-TESTED RESULTS

Yield

Dividend Yield 1 as of 09/27/2016

30-Day Standardized Yield 2 as of 08/31/2016

Expense Ratioas of 08/31/2016

Fund Basicsas of 08/31/2016

Fund Expense Ratio :

0.82%

Fund Expense Ratio :

0.82%

Fund Expense Ratio :

0.82%

Fund Expense Ratio :

0.82%

RELATED CONTENT

Credit Quality Distribution as of 08/31/2016 View Portfolio

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Performance

Performance

Dividend Yield 1 as of 09/27/2016

30-Day Standardized Yield 2 as of 08/31/2016

Fund Expense Ratio :

0.82%

Fund Expense Ratio :

0.82%

Fund Expense Ratio :

0.82%

Fund Expense Ratio :

0.82%

Growth of $10,000 as of 08/31/2016

NAV Historical Prices

Portfolio

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Using Your Email Address.

Dividend Yield ¹ as of 09/27/2016

30-Day Standardized Yield ² as of 08/31/2016

Dividend Yield ¹ as of 09/27/2016

30-Day Standardized Yield ² as of 08/31/2016