California Tax Free Fund

LCFOX

Track this Fund

Add to Hypo Tool

Daily price w/o sales charge as of 09/20/2019

$11.38

$0.01

YTD Returns w/o sales charge as of 09/20/2019

8.50%

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

Click here to view all legal text including risk information

Summary

What is the California Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal and state taxation by investing primarily in California municipal bonds.

Yield

Dividend Yield ¹ as of 09/20/2019

w/o sales charge

2.92%

30-Day Standardized Yield ² as of 08/31/2019

1.64%

Fund Basicsas of 08/30/2019

Total Net Assets: $421.93 M
Inception Date: 04/05/2017
Dividend Frequency: Monthly
Fund Expense Ratio: 0.56%
Number of Holdings: 290

Fund Expense Ratio :

0.56%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 01/31/2011

w/o sales charge	9.66%	9.46%	3.75%	4.75%	-	6.51%
Lipper Category Avg. California Municipal Debt Funds	8.14%	8.24%	3.03%	4.04%	-	-
Bloomberg Barclays Municipal Bond Index	7.61%	8.72%	3.30%	3.85%	-	-

Fund Expense Ratio :

0.56%

Fund Expense Ratio :

0.56%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 01/31/2011

w/o sales charge	6.37%	6.76%	2.80%	4.52%	-	6.26%
Lipper Category Avg. California Municipal Debt Funds	5.41%	5.94%	2.20%	3.88%	-	-
Bloomberg Barclays Municipal Bond Index	5.09%	6.71%	2.55%	3.64%	-	-

Fund Expense Ratio :

0.56%

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 for future results.

Credit Quality Distribution as of 08/30/2019

Rating	Assets
AAA
AA
A
BBB
< BBB
Not Rated

Investment Team

Daniel S. Solender, CFA

Partner & Director

32 Years of Industry Experience

Gregory M. Shuman, CFA

Portfolio Manager

9 Years of Industry Experience

Supported By 14 Investment Professionals with 13 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Dividend Yield ¹ as of 09/20/2019

w/o sales charge

2.92%

30-Day Standardized Yield ² as of 08/31/2019

	Subsidized³	Un-Subsidized⁴
w/o sales charge	1.64%	1.64%

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

Fund Expense Ratio :

0.56%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 01/31/2011

w/o sales charge	9.66%	9.46%	3.75%	4.75%	-	6.51%
Lipper Category Avg. California Municipal Debt Funds	8.14%	8.24%	3.03%	4.04%	-	-
Bloomberg Barclays Municipal Bond Index	7.61%	8.72%	3.30%	3.85%	-	-

Fund Expense Ratio :

0.56%

Fund Expense Ratio :

0.56%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 01/31/2011

w/o sales charge	6.37%	6.76%	2.80%	4.52%	-	6.26%
Lipper Category Avg. California Municipal Debt Funds	5.41%	5.94%	2.20%	3.88%	-	-
Bloomberg Barclays Municipal Bond Index	5.09%	6.71%	2.55%	3.64%	-	-

Fund Expense Ratio :

0.56%

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

Year	Fund Returns	Bloomberg Barclays Municipal Bond Index

2018	0.72%	1.28%
2017	6.95%	5.45%
2016	0.37%	0.25%
2015	3.87%	3.30%
2014	13.37%	9.05%
2013	-3.60%	-2.55%
2012	12.05%	6.78%
2011	13.94%	10.70%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2019	3.38%	2.89%	-	-	8.52%
2018	-0.83%	1.19%	-0.29%	0.66%	0.72%
2017	2.01%	2.43%	0.98%	1.36%	6.95%
2016	2.10%	3.68%	0.02%	-5.21%	0.37%
2015	1.26%	-1.29%	1.76%	2.13%	3.87%
2014	4.72%	3.68%	2.45%	1.93%	13.37%
2013	0.63%	-3.85%	-0.77%	0.41%	-3.60%
2012	4.55%	1.84%	3.49%	1.69%	12.05%
2011	-	5.44%	3.69%	2.73%	13.94%

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

NAV Historical Prices

Date	Net Asset Value

Portfolio

Sector	Assets
Transportation
GO Local
Healthcare/Hospital
IDR/PCR
Education
Special Tax
GO State
Water & Sewer
Lease
Housing
Power
Insured
Other
VRDN

The Fund's portfolio is actively managed and is subject to change.

Maturity	Assets
<1 Year
1-3 Years
3-5 Years
7-9 Years
9-12 Years
12-15 Years
15-18 Years
18-25 Years
25-30 Years
30+ Years

The Fund's portfolio is actively managed and is subject to change.

By State	Assets
CA
Puerto Rico
Other U.S. Territories

The Fund's portfolio is actively managed and is subject to change.

CREDIT QUALITY DISTRIBUTION as of 08/30/2019

Rating	Assets
AAA
AA
A
BBB
< BBB
Not Rated

Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. 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. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.

Portfolio Positioning as of 06/30/2019

Relative to its benchmark, the Bloomberg Barclays Municipal Bond Index, the portfolio is underweight bonds in the 1- to 12-year maturity range, while maintaining an overweight to longer maturity bonds.
The portfolio is overweight the lower tiers of the investment grade range due to the incremental yield advantage and solid credit fundamentals.
The portfolio continues to maintain an overweight to revenue bonds, specifically in the transportation, health care, and industrial development sectors, given the dedicated income stream and favorable return prospects.

Portfolio Details as of 08/30/2019

Total Net Assets: $421.93 M
Number of Issues: 290
Average Coupon: 4.6%
Average Effective Maturity: 21.5 Years
Average Effective Duration: 7.22 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.

Holdings	Coupon	Maturity	Assets

California Muni Fin Auth - LINXS	4.000%	12/31/2047	1.4%
Southern California Public Power Auth - Goldman Sachs	5.000%	11/01/2033	1.3%
San Joaquin Hills Transportation Corridor Agency	5.000%	01/15/2050	1.2%
Foothill Eastern Transportation Corridor Agency	6.000%	01/15/2049	1.2%
California Edl Facs Auth	5.000%	05/01/2049	1.1%
California State General Obligation	5.250%	10/01/2032	1.0%
Santa Barbara County Solid Waste System	5.000%	12/01/2036	1.0%
M-S-R Energy Auth - Merrill Lynch	7.000%	11/01/2034	0.9%
Golden St Tobacco Securitization Corp.	5.000%	06/01/2047	0.9%
M-S-R Energy Auth - Merrill Lynch	6.500%	11/01/2039	0.9%

% of Total Assets			10.9%

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

California Muni Fin Auth - LINXS	4.000%	12/31/2047	1.5%
San Joaquin Hills Transportation Corridor Agency	5.000%	01/15/2050	1.3%
Southern California Public Power Auth - Goldman Sachs	5.000%	11/01/2033	1.3%
Foothill Eastern Transportation Corridor Agency	6.000%	01/15/2049	1.3%
California Edl Facs Auth	5.000%	05/01/2049	1.2%
California State General Obligation	5.250%	10/01/2032	1.1%
Santa Barbara County Solid Waste System	5.000%	12/01/2036	1.1%
Golden St Tobacco Securitization Corp.	5.000%	06/01/2047	1.0%
M-S-R Energy Auth - Merrill Lynch	7.000%	11/01/2034	1.0%
Foothill Eastern Transportation Corridor Agency	6.000%	01/15/2053	0.9%
Foothill-Eastern Transp Corridor Agy, CA	3.500%	01/15/2053	0.9%
M-S-R Energy Auth - Merrill Lynch	6.500%	11/01/2039	0.9%
California State General Obligation	5.250%	04/01/2035	0.9%
California Statewide Comntys Dev Auth	5.000%	03/01/2048	0.9%
California Muni Fin Auth	5.000%	01/01/2042	0.8%
Yosemite Community College District	0.000%	08/01/2042	0.8%
California State General Obligation	5.250%	08/01/2032	0.8%
Univ of California Bd of Regents	5.250%	05/15/2058	0.8%
California State General Obligation	5.000%	04/01/2032	0.8%
California State General Obligation	1.330%	05/01/2034	0.8%
California Poll Cntrl Fin Auth	5.000%	11/21/2045	0.8%
Norman Y Mineta San Jose International Arpt SJC	5.000%	03/01/2047	0.8%
Bay Area Toll Auth, CA	3.000%	04/01/2054	0.8%
Foothill Eastern Transportation Corridor Agency	3.950%	01/15/2053	0.7%
New Haven Unif Sch Dist, CA	4.000%	08/01/2047	0.7%
Santa Clara Unified School District	3.250%	07/01/2044	0.7%
California Muni Finance Auth - Univ of San Diego	5.000%	10/01/2029	0.6%
Imperial Unif Sch Dist	5.250%	08/01/2043	0.6%
Anaheim Public Fincg Auth, CA	5.000%	09/01/2035	0.6%
Univ of California Bd of Regents	5.250%	05/15/2047	0.6%
Los Angeles, CA	5.250%	05/15/2048	0.6%
Local Public Schools Funding Authority School Impr	5.000%	08/01/2052	0.6%
California Poll Cntrl Fin Auth	5.000%	11/21/2045	0.6%
California Edl Facs Auth	5.000%	10/01/2053	0.6%
California Statewide Comntys Dev Auth	5.250%	12/01/2034	0.6%
California Muni Fin Auth	5.000%	05/15/2047	0.6%
San Diego Cnty Regl Arpt Auth, CA	5.000%	07/01/2047	0.6%
Los Angeles, CA	5.000%	05/15/2047	0.6%
California Muni Fin Auth	5.000%	12/31/2047	0.6%
California Hlth Facs Fing Auth	4.000%	10/01/2047	0.6%
San Buenaventura - Comunity Memorial Health	8.000%	12/01/2031	0.6%
Bay Area Toll Auth, CA	4.000%	04/01/2038	0.6%
California State General Obligation	5.000%	02/01/2032	0.6%
California State Pub Wks Bd	5.750%	10/01/2031	0.6%
California Hlth Facs Fing Auth	5.500%	08/15/2033	0.6%
California Hlth Facs Fing Auth	5.250%	11/01/2035	0.6%
California Infrastr & Econ Dev Bnk	5.250%	10/01/2034	0.6%
Oceanside Unified School District/CA	4.000%	08/01/2048	0.6%
San Leandro Unif Sch Dist	5.250%	08/01/2046	0.6%
Irvine Unif Sch Dist Fincg Auth, CA	4.000%	09/01/2042	0.6%
Poway Unif Sch Dist Pub Fing Auth, CA	5.000%	09/01/2035	0.6%
Foothill-Eastern Transp Corridor Agy, CA	5.750%	01/15/2046	0.5%
California State General Obligation	5.500%	03/01/2040	0.5%
Beverly Hills Unified School District CA	3.000%	08/01/2044	0.5%
Northern California Gas Auth No 1	2.274%	07/01/2027	0.5%
North Orange County Community College District/CA	2.750%	08/01/2036	0.5%
California Edl Facs Auth	4.000%	04/01/2047	0.5%
California	5.000%	08/01/2038	0.5%
Casitas Muni Wtr Dist	5.250%	09/01/2047	0.5%
Palomar Hlth	5.000%	11/01/2039	0.5%
California Hlth Facs Fing Auth	4.000%	11/15/2042	0.5%
Los Angeles Department of Pwr	5.250%	07/01/2037	0.5%
Bay Area Toll Auth, CA	4.000%	04/01/2042	0.5%
Temecula Valley Unif Sch Dist Fincg Auth, CA	5.000%	09/01/2035	0.5%
California Edl Facs Auth	5.000%	12/01/2044	0.5%
California Hlth Facs Fing Auth	5.000%	11/15/2056	0.5%
California Infrastr & Econ Dev Bnk	5.000%	05/15/2047	0.5%
City of Oroville CA	5.250%	04/01/2049	0.5%
Golden St Tobacco Securitization Corp.	3.500%	06/01/2036	0.5%
Alameda Corridor Transp Auth	5.000%	10/01/2036	0.5%
Local Public Schools Funding Authority School Impr	4.000%	08/01/2052	0.5%
Long Beach Bond Finance Auth - Merrill Lynch	5.500%	11/15/2037	0.5%
Union City Comnty Redev Agy, CA	6.875%	12/01/2033	0.4%
San Francisco City & Cnty Arpt Comm, CA	5.000%	05/01/2040	0.4%
Silicon Vy Clean Wtr	4.000%	08/01/2046	0.4%
Sonoma Marin Area Rail Transit Dist, CA	5.000%	03/01/2029	0.4%
California Hlth Facs Fing Auth	5.000%	11/01/2033	0.4%
Riverside Cnty Transp Comm, CA	5.750%	06/01/2048	0.4%
Alameda Corridor Transp Auth	5.000%	10/01/2029	0.4%
Sierra Joint Community College District	4.000%	08/01/2053	0.4%
Alameda Corridor Transp Auth	4.000%	10/01/2037	0.4%
Norman Y Mineta San Jose International Arpt SJC	6.250%	03/01/2034	0.4%
San Francisco City & Cnty Port Comm, CA	5.000%	03/01/2030	0.4%
California Statewide Comntys Dev Auth	5.125%	05/15/2031	0.4%
Adelanto Pub Util Auth, CA	5.000%	07/01/2039	0.4%
M-S-R Energy Auth	6.500%	11/01/2039	0.4%
M-S-R Energy Auth	6.125%	11/01/2029	0.4%
San Francisco City & Cnty Arpt Comm, CA	5.000%	01/01/2038	0.4%
Long Beach Bnd Fin Auth	5.250%	11/15/2020	0.4%
Inland Valley Development Agency	5.250%	09/01/2037	0.4%
California Hlth Facs Fing Auth	5.000%	11/01/2034	0.4%
San Francisco City & Cnty Arpt Comm, CA	5.000%	05/01/2027	0.4%
California State General Obligation	5.250%	10/01/2029	0.4%
Puerto Rico	6.000%	07/01/2039	0.4%
Silicon Vly Tobacco Securitization Auth	0.000%	06/01/2041	0.4%
California Hlth Facs Fing Auth	5.000%	11/01/2047	0.4%
Palomar Hlth	5.000%	11/01/2036	0.4%
Grossmont Un High Sch Dist, CA	5.000%	08/01/2043	0.4%
California Statewide Comntys Dev Auth	5.000%	02/01/2035	0.4%
Irvine Unif Sch Dist Fincg Auth, CA	5.500%	09/01/2035	0.4%
Valley County Water District Financing Authority	4.500%	01/01/2048	0.4%
San Francisco City & County Public Utilities Commi	4.000%	10/01/2043	0.4%
West Contra Costa Unif Sch Dist, CA	6.000%	08/01/2027	0.4%
San Joaquin Hills Transp Corridor Agy, CA	5.000%	01/15/2029	0.4%
Los Angeles, CA	4.000%	05/15/2044	0.4%
Banning Unif Sch Dist	5.250%	08/01/2042	0.4%
San Rafael City Elementary School District	4.500%	08/01/2042	0.3%
Port of Oakland, CA	5.125%	05/01/2031	0.3%
Cnty of Sacramento CA Arpt Sys Rev	5.000%	07/01/2041	0.3%
California Statewide Comntys Dev Auth	5.500%	12/01/2058	0.3%
California	4.000%	09/01/2035	0.3%
Golden St Tobacco Securitization Corp.	5.250%	06/01/2047	0.3%
Golden St Tobacco Securitization Corp.	5.000%	06/01/2047	0.3%
San Diego Public Facs Fing Auth, CA	5.000%	08/01/2043	0.3%
Los Angeles Department of Pwr	5.250%	07/01/2049	0.3%
Santa Rita Union School District	2.500%	08/01/2031	0.3%
California Edl Facs Auth	5.000%	10/01/2037	0.3%
Golden St Tobacco Securitization Corp.	5.000%	06/01/2034	0.3%
Washington Township Health Care District	5.000%	07/01/2032	0.3%
California Muni Fin Auth	5.000%	06/01/2043	0.3%
Ripon Unif Sch Dist, CA	5.500%	08/01/2043	0.3%
California Muni Fin Auth	4.000%	02/01/2042	0.3%
Los Angeles, CA	5.000%	05/15/2043	0.3%
California Muni Fin Auth	5.000%	12/31/2031	0.3%
San Francisco Comnty Coll Dist, CA	5.000%	06/15/2028	0.3%
California Muni Fin Auth	5.000%	08/15/2030	0.3%
California Edl Facs Auth	5.000%	10/01/2048	0.3%
San Francisco City & Cnty Arpt Comm, CA	5.250%	05/01/2042	0.3%
City of Sacramento CA Transient Occupancy Tax Reve	5.000%	06/01/2048	0.3%
California Muni Fin Auth	5.000%	12/31/2035	0.3%
California Sch Fin Auth	5.000%	08/01/2038	0.3%
Long Beach, CA	5.000%	05/15/2028	0.3%
Irvine Unif Sch Dist Fincg Auth, CA	5.000%	09/01/2056	0.3%
California Hlth Facs Fing Auth	5.000%	08/15/2047	0.3%
Simi Valley Unified School District	4.000%	08/01/2046	0.3%
Golden St Tobacco Securitization Corp.	5.000%	06/01/2029	0.3%
Stockton Pub Fincg Auth, CA	5.000%	09/01/2029	0.3%
Tustin Comnty Fac Dist	5.000%	09/01/2037	0.3%
City of Irvine CA	5.000%	09/02/2028	0.3%
California Statewide Comntys Dev Auth	5.000%	05/15/2035	0.3%
Sweetwater Un High Sch Dist, CA	5.000%	08/01/2027	0.3%
California Muni Fin Auth - LINXS	5.000%	12/31/2043	0.3%
California Edl Facs Auth	5.000%	04/01/2040	0.3%
Los Angeles, CA	5.000%	06/01/2044	0.3%
California Edl Facs Auth	5.000%	04/01/2039	0.3%
Los Angeles Harbor Dept, CA	5.000%	08/01/2036	0.3%
California Muni Fin Auth	5.000%	02/01/2047	0.3%
Roseville, CA	5.000%	09/01/2031	0.3%
Los Angeles, CA	5.000%	05/15/2046	0.3%
Southern California Pub Pwr Auth	5.000%	07/01/2038	0.3%
Irvine Unif Sch Dist Fincg Auth, CA	5.000%	09/01/2038	0.3%
Irvine Unif Sch Dist Fincg Auth, CA	5.000%	03/01/2057	0.3%
Los Angeles, CA	5.000%	05/15/2041	0.3%
ABAG Fin Auth For Nonprofit Corps, CA	5.000%	08/01/2043	0.3%
California Muni Fin Auth	5.000%	06/01/2036	0.3%
California Infrastr & Econ Dev Bnk	5.000%	11/01/2041	0.3%
San Diego Cnty Regl Arpt Auth, CA	5.000%	07/01/2027	0.3%
San Gorgonio Mem Hlth Care Dist	5.000%	08/01/2032	0.3%
Long Beach Bnd Fin Auth	5.000%	11/15/2029	0.3%
Santa Barbara Unif Sch Dist	4.000%	08/01/2044	0.3%
California Statewide Comntys Dev Auth	5.500%	12/01/2054	0.3%
California Statewide Comntys Dev Auth	5.000%	10/01/2045	0.3%
California Sch Fin Auth	5.000%	08/01/2046	0.3%
City of Irvine CA	4.000%	09/02/2039	0.3%
Sacramento Cnty Tobacco Settlement Securitization	5.500%	06/01/2045	0.3%
Orange Cnty Comnty Facs Dist	5.250%	08/15/2045	0.3%
City of San Clemente, CA	5.000%	09/01/2040	0.3%
Santa Maria, CA	5.000%	02/01/2027	0.3%
San Francisco City & Cnty Redev Fing Auth, CA	6.750%	08/01/2041	0.3%
Orange Unified School District	4.000%	08/01/2047	0.3%
California State General Obligation	5.000%	02/01/2033	0.3%
West Contra Costa Unif Sch Dist, CA	4.000%	08/01/2043	0.3%
California Hlth Facs Fing Auth	5.000%	11/15/2029	0.3%
Antelope Valley Hlthcare Dist	5.250%	03/01/2036	0.3%
California Muni Fin Auth	6.750%	10/01/2028	0.3%
California Community Housing Agency	5.000%	04/01/2049	0.3%
Huntington Beach City School District	4.000%	08/01/2048	0.3%
ABAG Fin Auth For Nonprofit Corps, CA	5.000%	11/15/2035	0.3%
California State Pub Wks Bd	5.000%	04/01/2037	0.3%
Marin Hlthcare Dist	4.000%	08/01/2040	0.3%
San Francisco City & Cnty Arpt Comm, CA	4.000%	05/01/2049	0.3%
Northern California Energy Authority	4.000%	07/01/2049	0.3%
San Jose, CA	6.125%	05/01/2031	0.3%
San Rafael City Elementary School District	4.000%	08/01/2047	0.3%
California State Pub Wks Bd	5.000%	12/01/2028	0.3%
Albany Unified School District	4.000%	08/01/2046	0.3%
San Bernardino City Unified School District	5.000%	10/01/2031	0.3%
Whittier, CA	5.750%	06/01/2029	0.3%
California Cnty Tobacco Securitization Agy	5.700%	06/01/2046	0.3%
California Muni Fin Auth	4.000%	08/15/2037	0.3%
California Statewide Comntys Dev Auth	4.000%	07/01/2048	0.3%
Lake Elsinore Public Fing Auth	5.000%	09/01/2035	0.3%
San Joaquin Hills Transp Corridor Agy, CA	5.250%	01/15/2049	0.3%
San Benito High School District	0.000%	08/01/2043	0.3%
Long Beach Bnd Fin Auth	3.117%	11/15/2026	0.3%
San Diego Unif Sch Dist, CA	3.250%	07/01/2048	0.3%
California Statewide Comntys Dev Auth	4.000%	12/01/2057	0.3%
San Diego Redev Agy, CA	7.000%	11/01/2039	0.3%
California Statewide Comntys Dev Auth	7.000%	11/15/2029	0.3%
Allan Hancock Joint Community College District/CA	3.250%	08/01/2044	0.3%
Chula Vista, CA	5.875%	01/01/2034	0.3%
Carlsbad Unified School District	3.125%	08/01/2048	0.3%
Puerto Rico Sales Tax Financing Corporation	5.000%	07/01/2058	0.3%
California Statewide Comntys Dev Auth	5.000%	07/01/2046	0.3%
San Diego Tobacco Settlement Revenue Funding Corp	4.000%	06/01/2032	0.3%
Perris Union High Sch District,CA	3.000%	09/01/2044	0.3%
Foothill-Eastern Transp Corridor Agy, CA	0.000%	01/15/2033	0.3%
California Statewide Fing Auth	0.000%	06/01/2046	0.2%
California Statewide Comntys Dev Auth	5.250%	10/01/2043	0.2%
El Dorado Irr Dist, CA	5.250%	03/01/2039	0.2%
Santa Barbara Unif Sch Dist	4.000%	08/01/2036	0.2%
San Diego Cnty Tobacco Asset Securitization Corp	5.000%	06/01/2037	0.2%
Grossmont Un High Sch Dist, CA	0.000%	06/01/2040	0.2%
Guam Pwr Auth	5.000%	10/01/2034	0.2%
Riverside Cnty Transp Comm, CA	0.000%	06/01/2028	0.2%
M-S-R Energy Auth	6.500%	11/01/2039	0.2%
Newport-Mesa Unif Sch Dist, CA	0.000%	08/01/2045	0.2%
Southern California Pub Pwr Auth	3.198%	11/01/2038	0.2%
San Benito High School District	0.000%	08/01/2042	0.2%
Cupertino Union School District	2.500%	08/01/2033	0.2%
San Benito High School District	0.000%	08/01/2041	0.2%
Palomar Hlth	5.000%	11/01/2047	0.2%
San Joaquin Hills Transp Corridor Agy, CA	0.000%	01/15/2036	0.2%
La Verne CA C.O.P.	5.000%	05/15/2029	0.2%
California Sch Fin Auth	5.000%	07/01/2034	0.2%
Simi Valley Unified School District	4.000%	08/01/2048	0.2%
California	5.250%	10/01/2039	0.2%
California Sch Fin Auth	5.000%	07/01/2045	0.2%
Newport-Mesa Unif Sch Dist, CA	0.000%	08/01/2041	0.2%
Brentwood Infrastr Fing Auth	5.000%	09/02/2036	0.1%
California Muni Fin Auth	5.000%	02/01/2040	0.1%
Southwestern Comnty College Dist, CA	0.000%	08/01/2041	0.1%
Guam Waterworks Auth	5.500%	07/01/2043	0.1%
California Statewide Comntys Dev Auth	5.000%	06/01/2051	0.1%
California Statewide Comntys Dev Auth	5.250%	07/01/2049	0.1%
California Sch Fin Auth	5.000%	08/01/2045	0.1%
City of Irvine CA	5.000%	09/01/2044	0.1%
California Hlth Facs Fing Auth	4.000%	11/01/2035	0.1%
River Islands Public Fing Auth	5.500%	09/01/2045	0.1%
California Muni Fin Auth	5.000%	06/01/2050	0.1%
San Mateo, CA	5.500%	09/01/2044	0.1%
California Muni Fin Auth	5.625%	03/01/2045	0.1%
Santa Ana Unif Sch Dist, CA	3.250%	08/01/2042	0.1%
Santa Cruz Cnty Redev Agy, CA	7.000%	09/01/2036	0.1%
Santa Cruz Cnty Redev Agy, CA	6.625%	09/01/2029	0.1%
California Muni Fin Auth	5.000%	10/01/2032	0.1%
California Statewide Comntys Dev Auth	5.000%	07/01/2036	0.1%
California Statewide Comntys Dev Auth	5.500%	07/01/2039	0.1%
California Statewide Comntys Dev Auth	5.000%	07/01/2041	0.1%
Golden St Tobacco Securitization Corp.	0.000%	06/01/2047	0.1%
California Muni Fin Auth	5.000%	10/01/2029	0.1%
Puerto Rico Elec Pwr Auth	7.000%	07/01/2040	0.1%
San Diego Cnty Tobacco Asset Securitization Corp	0.000%	06/01/2046	0.1%
California Cnty Tobacco Securitization Agy	0.000%	06/01/2046	0.1%
Puerto Rico Sales Tax Fincg Corp	4.750%	07/01/2053	0.1%
San Diego Cnty Tobacco Asset Securitization Corp	0.000%	06/01/2046	0.1%
Foothill Eastern Transportation Corridor Agency	5.500%	01/15/2053	0.1%
Puerto Rico Sales Tax Fincg Corp	0.000%	07/01/2029	0.1%
Puerto Rico Sales Tax Fincg Corp	4.550%	07/01/2040	0.1%
Puerto Rico Elec Pwr Auth	5.250%	07/01/2024	0.1%
Puerto Rico Sales Tax Fincg Corp	0.000%	07/01/2046	0.0%
California Poll Cntrl Fin Auth	4.300%	07/01/2040	0.0%
Inland Empire Tobacco Securitization Auth	0.000%	06/01/2057	0.0%
Puerto Rico Sales Tax Fincg Corp	0.000%	07/01/2031	0.0%
Puerto Rico Sales Tax Fincg Corp	5.000%	07/01/2058	0.0%
Puerto Rico Elec Pwr Auth	5.250%	07/01/2033	0.0%
Puerto Rico Sales Tax Fincg Corp	0.000%	07/01/2051	0.0%
Silicon Vly Tobacco Securitization Auth	0.000%	06/01/2056	0.0%
Puerto Rico Sales Tax Fincg Corp	0.000%	07/01/2033	0.0%
Puerto Rico Sales Tax Fincg Corp	4.500%	07/01/2034	0.0%
Puerto Rico Sales Tax Fincg Corp	0.000%	07/01/2027	0.0%
Puerto Rico Sales Tax Fincg Corp	4.550%	07/01/2040	0.0%
Puerto Rico Sales Tax Fincg Corp	0.000%	07/01/2024	0.0%
Puerto Rico Sales Tax Fincg Corp	4.750%	07/01/2053	0.0%
US 20YR Treasury Future Sep 2009	-	-	0.0%

Dividends & Cap Gains

Dividend Payments

For

YTD Dividends Paidas of 09/20/2019: $0.234
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	08/31/2019	$0.02764	$11.52
Daily	Daily	07/31/2019	$0.02828	$11.29
Daily	Daily	06/30/2019	$0.02898	$11.23
Daily	Daily	05/31/2019	$0.02907	$11.21
Daily	Daily	04/30/2019	$0.02963	$11.06
Daily	Daily	03/31/2019	$0.03003	$11.00
Daily	Daily	02/28/2019	$0.03172	$10.81
Daily	Daily	01/31/2019	$0.02952	$10.77

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date	Ex-Dividend Date	Reinvest & Payable Date
Daily	Daily	09/30/2019
Daily	Daily	10/31/2019
Daily	Daily	11/30/2019
Daily	Daily	12/31/2019

Fees & Expenses

Expense Ratioas of 08/31/2019

0.56%

Expense ratio details, Click here.

The net expense ratio takes into account deductions for certain interest and related expenses from certain of the Fund's investments. Under accounting rules, the Fund recognized additional income in an amount that directly offsets these interest and related expenses. Therefore, the Fund's total returns and net asset value were not affected by such interest and related expenses.

Fund Documents

Download fund documents & literature, create email subscriptions, and place direct mail order

	0Documents selected				Order
	Summary Prospectus Publish Date:11/03/2015
n/a	Statutory Prospectus Publish Date:11/03/2015
n/a	Prospectus (XBRL) Publish Date:11/03/2015
	SAI Publish Date:11/03/2015
	Annual Report Publish Date:11/03/2015
	Semi-Annual Report Publish Date:11/03/2015
	Fact Sheet Publish Date:11/03/2015
	Commentary Publish Date:11/03/2015
	Flyer Publish Date:11/03/2015

To order literature visit full website

You may add to your cart by selecting quantities in each row below.

No rows selected. Please Go back and select at least one fund document

	Quantity Quantity	Remove Remove

Proceed to Checkout

(3 items)

View all forms & documents

IMPORTANT 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 30-day Standardized Subsidized yield reflects fee waivers in effect. Without such fee waivers, yields would be reduced.

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

IMPORTANT INFORMATION

A Note about Risk: The Fund invests a significant percentage of its assets in the securities of issuers in a single state. As a result, an investment in the Fund may be riskier than an investment in other, more diversified municipal bond funds. The value of an investment in the Fund will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the prices of debt securities tend to rise. High-yield securities, sometimes called "junk bonds" carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. A portion of the income derived from the Fund's portfolio may be subject to the alternative minimum tax. Any capital gains realized may be subject to taxation. Federal, state, and local taxes may apply. There is a risk that a bond issued as tax-exempt may be reclassified by the IRS as taxable, creating taxable rather than tax-exempt income. The Fund may invest in bonds of issuers in Puerto Rico and other U.S. territories, commonwealths, and possessions, and may be affected by local, state, and regional factors. These may include, for example, economic or political developments, erosion of the tax base, and the possibility of credit problems. 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 F3 - The inception date for Class F3 shares is April 4, 2017. The performance quotations for Class F3 are based on the following methods of calculation: (a) for periods prior to April 4, 2017, a figure is used based on the historical performance of the Fund’s Class I Shares, since inception, restated to reflect all charges and fees applicable to Class F3 shares; and (b) for periods after April 4, 2017, actual Class F3 performance is used, which reflects all charges and fees applicable to Class F3 shares.

Class F3 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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.

A portion of the income derived from the fund's portfolio may be subject to the alternative minimum tax. Any capital gains realized may be subject to taxation. Shareholders should consult with their tax advisers for more specific information on taxation.

The Bloomberg Barclays Municipal Bond Index a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market. Bonds must be rated investment-grade (Baa3/BBB- or higher) by at least two ratings agencies. They must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate, have a dated-date after December 31, 1990, and must be at least one year from their maturity date.

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.

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.

Expense Ratio: The net expense ratio takes into account a contractual management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through March 31, 2016. For periods when gross expenses exceeded the cap, the Fund benefited by not bearing certain expenses. Without such cap, performance would have been lower.

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.

Fund finder

Lord Abbett aspires to be the most respected asset manager in the world. Rooted in the values that have shaped the firm since our founding in 1929, our vision continues to guide our actions and strengthen our culture.

Career Opportunities

Error!

Error!

Error!

Tracked Funds

Quick Links

Pending Orders

LOG IN TO CONTINUE

LOG IN

QUICK LINKS

Financial Professional

Verify Your Email Address

I have not received my verification email.

I'm still having trouble

REGISTER AT LORDABBETT.COM

FORGOT YOUR LORDABBETT.COM PASSWORD?

Financial Professionals

Forgot Password

Thank you.

Financial Professional*

ACCESS OTHER ACCOUNTS

Individual Investors

Small Business Plan Sponsors

Reset Your Password

Financial Professionals*

Confirmation Message

Share

Summary

Summary

What is the California Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal and state taxation by investing primarily in California municipal bonds.

Yield

Dividend Yield 1 as of 09/20/2019

30-Day Standardized Yield 2 as of 08/31/2019

Fund Basicsas of 08/30/2019

Fund Expense Ratio :

0.56%

Fund Expense Ratio :

0.56%

Fund Expense Ratio :

0.56%

Fund Expense Ratio :

0.56%

RELATED CONTENT

Credit Quality Distribution as of 08/30/2019

Investment Team

Contact a Representative

Performance

Performance

Dividend Yield 1 as of 09/20/2019

30-Day Standardized Yield 2 as of 08/31/2019

Fund Expense Ratio :

0.56%

Fund Expense Ratio :

0.56%

Fund Expense Ratio :

0.56%

Fund Expense Ratio :

0.56%

NAV Historical Prices

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 08/30/2019

Portfolio Positioning as of 06/30/2019

Portfolio Details as of 08/30/2019

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Upcoming Dividend Payment Dates

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2019

Fund Documents

Fund Documents

Coming Soon.......

Please confirm your literature shipping address

Current Literature Shipping Address

Dividend Yield ¹ as of 09/20/2019

30-Day Standardized Yield ² as of 08/31/2019

Dividend Yield ¹ as of 09/20/2019

30-Day Standardized Yield ² as of 08/31/2019