Image alt tag

Page not optimized for mobile browsing

DST vision is best viewed on desktop and tablet

The Muni-Ladder Interest Rate Scenario Tool is only available on desktop and tablet.

PROCEED GO TO LORDABBETT.COM

Error!

There was a problem contacting the server. Please try after sometime.

Sorry, we are unable to process your request.

Error!

We're sorry, but the Insights and Intelligence Tool is temporarily unavailable

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Error!

We're sorry, but the Literature Center checkout function is temporarily unavailable.

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Tracked Funds

You have 0 funds on your mutual fund watch list.

Begin by selecting funds to create a personalized watch list.

(as of 12/05/2015)
View All Tracked Funds
View All Tracked Funds

Quick Links

Follow Us

Pending Orders

You have 0 items in your cart.

Subscribe and order forms, fact sheets, presentations, and other documents that can help advisers grow their business.

Check Out Go Literature Center

A verification Email Has Been Sent

An email verification email has been sent to .
Follow the instructions to complete the email validation process.

I have not received my verification email

Check your SPAM mailbox and make sure that twelcome@lordabbett.com is allowed to send you mail.

I'm still having trouble

If you're still having trouble verifying your email address. feel free to contact us.

1-888-522-2388
clientservices@lordabbett.com


OK

We're sorry. We found no record of the email address you provided.

Register For a LordAbbett.com Account
Using Your Email Address.

  • Registered Financial Advisors gain access to:
  • Our data mining tool, Insight & Intelligence
  • Best in-class practice management content
  • Educational events, videos and podcasts.
  • The Lord Abbett Review - Subscribe now!

Registered but Having Problems?

If you believe you are registered and are having problems verifying your email address, feel free to contact us.

1-888-522-2388 clientservices@lordabbett.com

Terms & Condition

These Terms of Use ("Terms of Use") are made between the undersigned user ("you") and Lord, Abbett & Co. ("we" or "us"). They become effective on the date that you electronically execute these Terms of Use ("Effective Date").

A. You are a successful financial consultant that markets securities, including the Lord Abbett Family of Funds;

B. We have developed the Lord Abbett Intelligence System (the "Intelligence System"), a state of the art information resource that we make available to a limited community of broker/dealers through the Internet at a secure Web site (the "LAIS Site"); and

C. We wish to provide access to the Intelligence System to you as an information tool responsive to the demands of your successful business pursuant to these Terms of Use. Accordingly, you and we, intending to be legally bound, hereby agree as follows:]

1. Overview. · Scope. These Terms of Use (which we may amend from time to time) govern your use of the Intelligence System. · Revisions; Changes. We may amend these Terms of Use at any time by posting amended Terms of Use ("Amended Terms of Use") on the LAIS Site. Any Amended Terms of Use will become effective immediately upon posting. Your use of the Intelligence System after any Amended Terms of Use become effective will be deemed to constitute your acceptance of those Amended Terms of Use.We may modify or discontinue the Intelligence System at any time, temporarily or permanently, with or without notice to you. Purpose of the Intelligence System. The Intelligence System is intended to be an information resource that you may use to contribute to your business research. The Intelligence System is for broker/dealer use only; it is not to be used with the public in oral, written or electronic form. The information on the Intelligence System and LAIS Site is for your information only and is neither the tax, legal or investment advice of Lord Abbett or its third-party sources nor their recommendation to purchase or sell any security.

2. Your Privileges. · Personal Use. Your use of the Intelligence System is a nontransferable privilege granted by us to you and that we may deny, suspend or revoke at any time, with or without cause or notice. · Access to and Use of the Intelligence System. The User ID and password (together, an "Access ID") issued by us to you (as subsequently changed by you from time to time) is for your exclusive access to and use of the Intelligence System. You will: (a) be responsible for the security and use of your Access ID, (b) not disclose your Access ID to anyone and (c) not permit anyone to use your Access ID. Any access or use of the Intelligence System through the use of your Access ID will be deemed to be your actions, for which you will be responsible. · Required Technology. You must provide, at your own cost and expense, the equipment and services necessary to access and use the Intelligence System. At any time, we may change the supporting technology and services necessary to use the Intelligence System. · Availability. We make no guarantee that you will be able to access the Intelligence System at any given time or that your access will be uninterrupted, error-free or free from unauthorized security breaches.

3. Rights in Data. Our use of information collected from you will be in accordance with our Privacy Policy posted on the LAIS Site. Our compliance with our Privacy Policy will survive any termination of these Terms of Use or of your use of the Intelligence System.

4. Your Conduct in the Use of the Intelligence System. You may access, search, view and store a personal copy of the information contained on the LAIS Site for your use as a broker/dealer. Any other use by you of the Intelligence System and the information contained on the LAIS Site these Terms of Use is strictly prohibited. Without limiting the preceding sentence, you will not: · Engage in or permit any reproduction, copying, translation, modification, adaptation, creation of derivative works from, distribution, transmission, transfer, republication, compilation or decompilation, reverse engineering, display, removal or deletion of the Intelligence System, any portion thereof, or any data, content or information provided by us or any of our third-party sources in any form, media or technology now existing or hereafter developed, that is not specifically authorized under these Terms of Use.

· Remove, obscure or alter any notice, disclaimer or other disclosure affixed to or contained within the Intelligence System, including any copyright notice, trademark and other proprietary rights notices and any legal notices regarding the data, content or information provided through the Intelligence System.

· Create a hyperlink to, frame or use framing techniques to enclose any information found anywhere on the LAIS Site without our express prior written consent.

· Impersonate any person, or falsely state or otherwise misrepresent his or her affiliation with any person in connection with any use of the Intelligence System.

· Breach or attempt to breach the security of the Intelligence System or any network, servers, data, or computers or other hardware relating to or used in connection with the Intelligence System; nor (b) use or distribute through the Intelligence System software or other tools or devices designed to interfere with or compromise the privacy, security or use of the Intelligence System by others or the operations or assets of any person.

· Violate any applicable law, including, without limitation, any state federal securities laws. 5. Your Representations and Warranties. You hereby represent and warrant to us, for our benefit, as of the time of these Terms of Use and for so long as you continue to use the Intelligence System, that (a) you are, and will continue to be, in compliance with these Terms of Use and any applicable laws and (b) you are authorized to provide to us the information we collect, as described in our Privacy Policy.

6. Disclaimer of Warranties.

· General Disclaimers.

THE INTELLIGENCE SYSTEM, THE LAIS SITE AND ALL DATA, INFORMATION AND CONTENT ON THE LAIS SITE ARE PROVIDED "AS IS" AND “AS AVAILABLE” AND WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND. WITHOUT LIMITING THE PRECEDING SENTENCE, LORD ABBETT, ITS AFFILIATES, AGENTS, THIRD-PARTY SUPPLIERS AND LICENSORS, AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, DIRECTORS, OFFICERS AND SHAREHOLDERS (COLLECTIVELY, THE “LORD ABBETT GROUP”) EXPRESSLY DISCLAIM ALL WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NONINFRINGEMENT. YOU EXPRESSLY AGREE THAT YOUR USE OF THE LAIS SITE, THE INTELLIGENCE SYSTEM, AND THE DATA, INFORMATION AND CONTENT PRESENTED THERE ARE AT YOUR SOLE RISK AND THAT THE LORD ABBETT GROUP WILL NOT BE RESPONSIBLE FOR ANY (A) ERRORS OR INACCURACIES IN THE DATA, CONTENT AND INFORMATION ON THE LAIS SITE AND THE INTELLIGENCE SYSTEM OR (B) ANY TERMINATION, SUSPENSION, INTERRUPTION OF SERVICES, OR DELAYS IN THE OPERATION OF THE LAIS SITE OR THE INTELLIGENCE SYSTEM.

· Disclaimer Regarding Investment Research.

THE INTELLIGENCE SYSTEM INCORPORATES DATA, CONTENT AND INFORMATION FROM VARIOUS SOURCES THAT WE BELIEVE TO BE ACCURATE AND RELIABLE. HOWEVER, THE LORD ABBETT GROUP MAKES NO CLAIMS, REPRESENTATIONS OR WARRANTIES AS TO THE ACCURACY, TIMELINESS, COMPLETENESS OR TRUTHFULNESS OF SUCH DATA, CONTENT AND INFORMATION. YOU EXPRESSLY AGREE THAT YOU ARE RESPONSIBLE FOR INDEPENDENTLY VERIFYING YOUR INVESTMENT RESEARCH PRIOR TO FORMING YOUR INVESTMENT DECISIONS OR RENDERING INVESTMENT ADVICE. THE LORD ABBETT GROUP WILL NOT BE LIABLE FOR ANY INVESTMENT DECISION MADE BY YOU OR ANY OTHER PERSON BASED UPON THE DATA, CONTENT AND INFORMATION PROVIDED THROUGH THE INTELLIGENCE SYSTEM OR ON THE LAIS SITE.

· Survival.

THIS SECTION 6 SHALL SURVIVE ANY TERMINATION OF THESE TERMS OF USE OR YOUR USE OF THE INTELLIGENCE SYSTEM..

7. Limitations on Liability.

NONE OF THE MEMBERS OF THE LORD ABBETT GROUP WILL BE LIABLE TO YOU OR ANY OTHER PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, SPECIAL OR EXEMPLARY DAMAGES (INCLUDING LOSS OF PROFITS, LOSS OF USE, TRANSACTION LOSSES, OPPORTUNITY COSTS, LOSS OF DATA, OR INTERRUPTION OF BUSINESS) RESULTING FROM, ARISING OUT OF OR IN ANY WAY RELATING TO THE INTELLIGENCE SYSTEM, THE LAIS SITE OR YOUR USE THEREOF, EVEN IF THE LORD ABBETT GROUP HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS SECTION 7 WILL SURVIVE ANY TERMINATION OF THESE TERMS OF USE OR YOUR USE OF THE INTELLIGENCE SYSTEM.

8. Miscellaneous Provisions.

· Governing Law. This Agreement will governed by and construed in accordance with the laws of the State of New York, without giving effect to applicable conflicts of law principles.

THE UNIFORM COMPUTER INFORMATION TRANSACTIONS ACT OR ANY VERSION THEREOF, ADOPTED BY ANY STATE, IN ANY FORM ("UCITA") WILL NOT APPLY TO THESE TERMS OF USE. TO THE EXTENT THAT UCITA IS APPLICABLE, THE PARTIES HEREBY AGREE TO OPT OUT OF THE APPLICABILITY OF UCITA PURSUANT TO THE OPT-OUT PROVISION(S) CONTAINED THEREIN.

The Intelligence System is not intended to be used by consumers, nor are the consumer protection laws of any jurisdiction intended to apply to the Intelligence System. You agree to initiate and maintain any action, suit or proceeding relating to these Terms of Use or arising out of the use of the Intelligence System exclusively in the courts, state and federal, located in or having jurisdiction over New York County, New York.

YOU HEREBY CONSENT TO THE PERSONAL JURISDICTION AND VENUE OF THE COURTS, STATE AND FEDERAL, LOCATED IN OR HAVING JURISDICTION OVER NEW YORK COUNTY, NEW YORK. YOU AGREE THAT YOU WILL NOT OBJECT TO A PROCEEDING BROUGHT IN YOUR LOCAL JURISDICTION TO ENFORCE AN ORDER OR JUDGMENT OBTAINED IN NEW YORK.

· Relationship of Parties. The parties to these Terms of Use are independent contractors and nothing in these Terms of Use will be construed as creating an employment relationship, joint venture, partnership, agency or fiduciary relationship between the parties.

· Notice. All notices provided under these Terms of Use will be in writing and will be deemed effective: (a) when delivered personally, (b) when received by electronic delivery, (c) one business day after deposit with a commercial overnight carrier specifying next day delivery, with written verification of receipt, or (d) three business days after having been sent by registered or certified mail, return receipt requested. We will only accept notices from you in English and by conventional mail addressed to: General Counsel Lord, Abbett & Co. 90 Hudson Street Jersey City, N.J. 07302-3973 We may give you notice by conventional mail or electronic mail addressed to the last mail or electronic mail address transmitted by you to us.

· Third-Party Beneficiaries. The members of the Lord Abbett Group are third-party beneficiaries of the rights and benefits provided to us under these Terms of Use. You understand and agree that any right or benefit available to us or any member of the Lord Abbett Group hereunder will also be deemed to accrue to the benefit of, and may be exercised directly by, any member of the Lord Abbett Group to the extent applicable.

· Survival. This Section 8 will survive any termination of these Terms of Use or your use of the Intelligence System. The undersigned hereby signs these Terms of Use. By electronically signing and clicking "Accept" below, these Terms of Use will be legally binding on me. To sign these Terms of Use, confirm your full name and enter your User ID and Password (as your electronic signature) in the fields indicated below and click the “I Accept” button.

Cancel Accept

Reset Your Password

Financial Professionals*

Your password must be a minimum of characters.

Confirmation Message

Your LordAbbett.com password was successully updated. This page will be refreshed after 3 seconds.

OK

 

California Tax Free Fund

Daily price w/o sales charge as of 07/18/2018

$10.89

$0.00

YTD Returns w/o sales charge as of 07/18/2018

0.70%

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

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 07/18/2018  

w/o sales charge 3.27%

30-Day Standardized Yield 2 as of 06/30/2018  

2.40%

Fund Basicsas of 06/29/2018

Total Net Assets
$305.37 M
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.55%
Number of Holdings
226
CUSIP
543902522

Fund Expense Ratio :

0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2011
w/o sales charge 0.36% 2.71% 3.83% 4.80% - 6.20%
Lipper Category Avg. California Municipal Debt Funds -0.04% 2.01% 3.18% 4.15% - -
Bloomberg Barclays Municipal Bond Index -0.25% 1.56% 2.85% 3.53% - -

Fund Expense Ratio :

0.55%

Fund Expense Ratio :

0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2011
w/o sales charge 0.36% 2.71% 3.83% 4.80% - 6.20%
Lipper Category Avg. California Municipal Debt Funds -0.04% 2.01% 3.18% 4.15% - -
Bloomberg Barclays Municipal Bond Index -0.25% 1.56% 2.85% 3.53% - -

Fund Expense Ratio :

0.55%

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.

RELATED CONTENT

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

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

Maturity Assets
<1 Year
1-3 Years
3-5 Years
5-7 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.

Credit Quality Distribution as of 06/29/2018

Rating Assets
A-1/MIG1
AAA
AA
A
BBB
< BBB
Not Rated

Investment Team

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

31 Years of Industry Experience

Greg Shuman
Gregory M. Shuman, CFA

Portfolio Manager

8 Years of Industry Experience

Supported By 14 Investment Professionals with 12 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 07/18/2018  

w/o sales charge 3.27%

30-Day Standardized Yield 2 as of 06/30/2018  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.40% 2.40%

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

Fund Expense Ratio :

0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2011
w/o sales charge 0.36% 2.71% 3.83% 4.80% - 6.20%
Lipper Category Avg. California Municipal Debt Funds -0.04% 2.01% 3.18% 4.15% - -
Bloomberg Barclays Municipal Bond Index -0.25% 1.56% 2.85% 3.53% - -

Fund Expense Ratio :

0.55%

Fund Expense Ratio :

0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2011
w/o sales charge 0.36% 2.71% 3.83% 4.80% - 6.20%
Lipper Category Avg. California Municipal Debt Funds -0.04% 2.01% 3.18% 4.15% - -
Bloomberg Barclays Municipal Bond Index -0.25% 1.56% 2.85% 3.53% - -

Fund Expense Ratio :

0.55%

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.

Year Fund Returns Bloomberg Barclays Municipal Bond Index
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
2018 -0.83% 1.19% - - 0.70%
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

Portfolio

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

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

Maturity Assets
<1 Year
1-3 Years
3-5 Years
5-7 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 06/29/2018

Rating Assets
A-1/MIG1
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 06/30/2018

  • Relative to its benchmark, the Bloomberg Barclays Municipal Bond Index, the portfolio is underweight bonds in the 1- to 9-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 06/29/2018

Total Net Assets
$305.37 M
Number of Issues
226
Average Coupon
4.9%
Average Effective Maturity
19.7 Years
Average Effective Duration
7.11 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
Foothill Eastern Transportation Corridor Agency 6.000% 01/15/2049 1.7%
San Joaquin Hills Transportation Corridor Agency 5.000% 01/15/2050 1.7%
California State General Obligation 5.250% 10/01/2032 1.5%
California Muni Fin Auth 5.000% 12/31/2043 1.3%
Southern California Public Power Auth - Goldman Sachs 5.000% 11/01/2033 1.2%
Foothill Eastern Trsp Corridor Agency 6.000% 01/15/2053 1.2%
M-S-R Energy Auth 7.000% 11/01/2034 1.2%
California State General Obligation 5.250% 04/01/2035 1.1%
Yosemite Community College District 0.000% 08/01/2042 1.1%
San Mateo Joint Powers Financing Authority 5.250% 07/15/2026 1.1%
% of Total Assets 13.1%

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
Foothill Eastern Transportation Corridor Agency6.000% 01/15/20491.7%
San Joaquin Hills Transportation Corridor Agency5.000% 01/15/20501.6%
Yosemite Community College District0.000% 08/01/20421.6%
California State General Obligation5.250% 10/01/20321.4%
Southern California Public Power Auth - Goldman Sachs5.000% 11/01/20331.2%
Foothill Eastern Trsp Corridor Agency6.000% 01/15/20531.2%
M-S-R Energy Auth7.000% 11/01/20341.2%
California State General Obligation5.250% 04/01/20351.1%
M-S-R Energy Authority - Citigroup6.500% 11/01/20391.1%
San Mateo Joint Powers Financing Authority5.250% 07/15/20261.0%
California State General Obligation5.250% 08/01/20321.0%
Long Beach Bond Finance Auth5.500% 11/15/20370.9%
Norman Y Mineta San Jose International Arpt SJC5.000% 03/01/20470.9%
Foothill-Eastern Transp Corridor Agy, CA3.950% 01/15/20530.8%
California Muni Finance Auth - Univ of San Diego5.000% 10/01/20290.8%
Golden St Tobacco Securitization Corp.5.750% 06/01/20470.8%
Imperial Unif Sch Dist5.250% 08/01/20430.8%
San Buenaventura - Comunity Memorial Health8.000% 12/01/20310.8%
Univ of California Bd of Regents5.250% 05/15/20470.8%
Los Angeles, CA5.250% 05/15/20480.8%
Los Angeles Unified School District5.000% 07/01/20290.8%
Stockton Unif Sch Dist, CA5.000% 08/01/20310.8%
San Diego Cnty Regl Arpt Auth, CA5.000% 07/01/20470.8%
Bay Area Toll Auth, CA5.000% 04/01/20560.7%
California Statewide Comntys Dev Auth5.250% 12/01/20340.7%
California Muni Fin Auth5.000% 05/15/20470.7%
Upland, CA6.000% 01/01/20260.7%
Santa Ana Unif Sch Dist, CA0.000% 04/01/20190.7%
Alameda Corridor Transp Auth5.000% 10/01/20370.7%
California State Pub Wks Bd5.750% 10/01/20310.7%
California Hlth Facs Fing Auth5.500% 08/15/20330.7%
California State General Obligation5.000% 02/01/20320.7%
California Hlth Facs Fing Auth5.250% 11/01/20350.7%
California Hlth Facs Fing Auth5.500% 08/15/20260.7%
California Infrastr & Econ Dev Bnk5.250% 10/01/20340.7%
California State General Obligation5.500% 03/01/20400.7%
Bay Area Toll Auth, CA4.000% 04/01/20380.7%
Foothill-Eastern Transp Corridor Agy, CA5.750% 01/15/20460.7%
San Leandro Unif Sch Dist5.250% 08/01/20460.7%
Golden St. Tobacco Securitization Corp5.125% 06/01/20470.7%
Poway Unif Sch Dist Pub Fing Auth, CA5.000% 09/01/20350.7%
Northern California Gas Auth No 12.266% 07/01/20270.6%
California5.000% 08/01/20380.6%
Los Angeles Department of Pwr5.250% 07/01/20370.6%
Union City Comnty Redev Agy, CA6.875% 12/01/20330.6%
California5.000% 09/01/20320.6%
Casitas Muni Wtr Dist5.250% 09/01/20470.6%
Univ of California Bd of Regents5.250% 05/15/20580.6%
California Hlth Facs Fing Auth5.000% 11/15/20560.6%
Riverside Cnty Transp Comm, CA5.750% 06/01/20480.6%
Temecula Valley Unif Sch Dist Fincg Auth, CA5.000% 09/01/20350.6%
Alameda Corridor Transp Auth5.000% 10/01/20360.6%
Norman Y Mineta San Jose International Arpt SJC6.250% 03/01/20340.5%
Local Public Schools Funding Authority School Impr4.000% 08/01/20520.5%
California6.500% 04/01/20330.5%
Sonoma Marin Area Rail Transit Dist, CA5.000% 03/01/20290.5%
San Francisco City & Cnty Arpt Comm, CA5.000% 05/01/20400.5%
Alameda Corridor Transp Auth5.000% 10/01/20290.5%
Los Angeles, CA4.000% 06/01/20420.5%
San Francisco City & Cnty Redev Fing Auth, CA6.625% 08/01/20390.5%
Long Beach Bnd Fin Auth5.250% 11/15/20200.5%
California Statewide Comntys Dev Auth5.125% 05/15/20310.5%
Silicon Vy Clean Wtr4.000% 08/01/20460.5%
California State General Obligation5.250% 10/01/20290.5%
San Francisco City & Cnty Port Comm, CA5.000% 03/01/20300.5%
Palomar Hlth5.000% 11/01/20390.5%
California Poll Cntrl Fin Auth3.250% 12/01/20270.5%
M-S-R Energy Auth6.125% 11/01/20290.5%
San Francisco City & Cnty Arpt Comm, CA5.000% 05/01/20270.5%
California Statewide Comntys Dev Auth5.000% 05/15/20400.5%
Inland Valley Development Agency5.250% 09/01/20370.5%
California State Pub Wks Bd3.000% 09/01/20300.5%
M-S-R Energy Auth6.500% 11/01/20390.5%
California Statewide Comntys Dev Auth5.000% 02/01/20350.5%
Grossmont Un High Sch Dist, CA5.000% 08/01/20430.5%
Silicon Vly Tobacco Securitization Auth0.000% 06/01/20410.4%
Port of Oakland, CA5.125% 05/01/20310.4%
Orange Cnty Wtr Dist4.000% 08/15/20410.4%
California Hlth Facs Fing Auth5.000% 11/01/20470.4%
Los Angeles, CA5.000% 05/15/20450.4%
Banning Unif Sch Dist5.250% 08/01/20420.4%
West Contra Costa Unif Sch Dist, CA6.000% 08/01/20270.4%
San Diego Public Facs Fing Auth, CA5.250% 09/01/20350.4%
Cnty of Sacramento CA Arpt Sys Rev5.000% 07/01/20410.4%
California Health Facs - Catholic Healthcare West5.500% 07/01/20250.4%
California Edl Facs Auth4.000% 04/01/20480.4%
San Francisco City & Cnty Redev Fing Auth, CA5.000% 08/01/20430.4%
Los Angeles Department of Wtr5.000% 07/01/20320.4%
California State Public Works Board5.000% 10/01/20290.4%
San Francisco Municipal Transportation Agency4.000% 03/01/20420.4%
San Francisco Comnty Coll Dist, CA5.000% 06/15/20280.4%
California Muni Fin Auth6.750% 10/01/20280.4%
Los Angeles Department of Pwr5.000% 07/01/20470.4%
Ripon Unif Sch Dist, CA5.500% 08/01/20430.4%
Los Angeles Unif Sch Dist, CA5.000% 07/01/20300.4%
California Hlth Facs Fing Auth5.000% 08/15/20340.4%
San Francisco City & Cnty Arpt Comm, CA5.250% 05/01/20420.4%
Golden St Tobacco Securitization Corp.5.000% 06/01/20290.4%
New Haven Unif Sch Dist, CA5.000% 08/01/20280.4%
Sweetwater Un High Sch Dist, CA5.000% 08/01/20270.4%
Long Beach, CA5.000% 05/15/20280.4%
California Muni Fin Auth5.000% 06/01/20430.4%
ABAG Fin Auth For Nonprofit Corps, CA5.000% 07/01/20320.4%
Golden St Tobacco Securitization Corp.5.000% 06/01/20350.4%
Los Angeles, CA5.000% 06/01/20440.4%
Stockton Pub Fincg Auth, CA5.000% 09/01/20290.4%
San Francisco City & Cnty Redev Fing Auth, CA6.750% 08/01/20410.4%
City of Irvine CA5.000% 09/02/20280.4%
Southern California Pub Pwr Auth5.000% 07/01/20380.4%
Long Beach, CA5.000% 05/15/20430.4%
Sacramento Cnty Tobacco Settlement Securitization5.500% 06/01/20450.4%
Tustin Comnty Fac Dist5.000% 09/01/20370.4%
City of Atwater CA Wastewater Revenue5.000% 05/01/20400.4%
California Edl Facs Auth5.000% 04/01/20390.4%
San Joaquin Hills Transp Corridor Agy, CA5.000% 01/15/20290.4%
Santa Rosa High School District5.000% 08/01/20430.4%
San Diego Cnty Regl Arpt Auth, CA5.000% 07/01/20270.4%
California Edl Facs Auth5.000% 10/01/20380.4%
Simi Valley Unified School District4.000% 08/01/20460.4%
Los Angeles Harbor Dept, CA5.000% 08/01/20360.4%
California Hlth Facs Fing Auth5.000% 08/15/20470.4%
Whittier, CA5.750% 06/01/20290.4%
California Infrastr & Econ Dev Bnk5.000% 11/01/20410.4%
Roseville, CA5.000% 09/01/20310.4%
California Muni Fin Auth5.000% 07/01/20420.4%
San Gorgonio Mem Hlth Care Dist5.000% 08/01/20320.4%
California Statewide Comntys Dev Auth5.500% 12/01/20540.4%
California Statewide Comntys Dev Auth5.000% 05/15/20350.4%
Los Angeles, CA5.000% 05/15/20460.4%
Orange Cnty Comnty Facs Dist5.250% 08/15/20450.4%
California State Pub Wks Bd5.000% 12/01/20280.4%
California Muni Fin Auth5.000% 08/15/20300.4%
California Muni Fin Auth5.000% 06/01/20360.4%
Los Angeles, CA5.000% 05/15/20410.4%
Irvine Unif Sch Dist Fincg Auth, CA5.000% 03/01/20570.4%
San Jose, CA6.125% 05/01/20310.4%
Lake Elsinore Public Fing Auth5.000% 09/01/20350.4%
Santa Maria, CA5.000% 02/01/20270.4%
ABAG Fin Auth For Nonprofit Corps, CA5.000% 08/01/20430.4%
Irvine Unif Sch Dist Fincg Auth, CA5.000% 09/01/20380.4%
California State General Obligation5.000% 02/01/20330.4%
California Edl Facs Auth5.000% 04/01/20400.4%
California Poll Cntrl Fin Auth5.000% 11/21/20450.4%
California Cnty Tobacco Securitization Agy5.700% 06/01/20460.4%
Antelope Valley Hlthcare Dist5.250% 03/01/20360.4%
California Statewide Comntys Dev Auth5.000% 10/01/20450.4%
California State Pub Wks Bd5.000% 04/01/20370.4%
California Hlth Facs Fing Auth5.000% 11/15/20290.4%
California Sch Fin Auth5.000% 08/01/20460.4%
ABAG Fin Auth For Nonprofit Corps, CA5.000% 11/15/20350.4%
City of San Clemente, CA5.000% 09/01/20400.4%
California Muni Fin Auth5.000% 04/01/20410.4%
California4.000% 09/01/20350.4%
San Diego Redev Agy, CA7.000% 11/01/20390.4%
Mount San Jacinto Community College District4.000% 08/01/20370.4%
California Statewide Comntys Dev Auth7.000% 11/15/20290.3%
Chula Vista, CA5.875% 01/01/20340.3%
California Infrastr & Econ Dev Bnk4.000% 02/01/20350.3%
Marin Hlthcare Dist4.000% 08/01/20400.3%
Univ of California Bd of Regents4.000% 05/15/20470.3%
California Hlth Facs Fing Auth4.000% 10/01/20470.3%
California Hlth Facs Fing Auth4.000% 11/15/20420.3%
Golden St. Tobacco Securitization Corp5.000% 06/01/20330.3%
San Joaquin Hills Transp Corridor Agy, CA5.250% 01/15/20490.3%
California Muni Fin Auth4.000% 08/15/20370.3%
California Statewide Comntys Dev Auth4.000% 07/01/20480.3%
California Statewide Comntys Dev Auth4.000% 12/01/20570.3%
Riverside Electric5.000% 10/01/20270.3%
Long Beach Bnd Fin Auth3.000% 11/15/20260.3%
San Diego Tobacco Settlement Revenue Funding Corp4.000% 06/01/20320.3%
California Muni Fin Auth5.000% 11/15/20310.3%
Puerto Rico6.000% 07/01/20390.3%
California Statewide Comntys Dev Auth5.250% 10/01/20430.3%
El Dorado Irr Dist, CA5.250% 03/01/20390.3%
California Statewide Fing Auth0.000% 06/01/20460.3%
Inland Empire Tobacco Securitization Auth5.000% 06/01/20210.3%
San Diego Cnty Tobacco Asset Securitization Corp5.000% 06/01/20370.3%
Foothill-Eastern Transp Corridor Agy, CA0.000% 01/15/20330.3%
Santa Barbara Unif Sch Dist4.000% 08/01/20360.3%
Guam Pwr Auth5.000% 10/01/20340.3%
Grossmont Un High Sch Dist, CA0.000% 06/01/20400.2%
Newport-Mesa Unif Sch Dist, CA0.000% 08/01/20450.2%
Riverside Cnty Transp Comm, CA0.000% 06/01/20280.2%
La Verne CA C.O.P.5.000% 05/15/20290.2%
California Sch Fin Auth5.000% 07/01/20340.2%
California Sch Fin Auth5.000% 07/01/20450.2%
Adelanto Pub Util Auth, CA5.000% 07/01/20390.2%
California5.250% 10/01/20390.2%
Guam Waterworks Auth5.500% 07/01/20430.2%
California Statewide Comntys Dev Auth5.000% 12/01/20570.2%
Brentwood Infrastr Fing Auth5.000% 09/02/20360.2%
California Muni Fin Auth5.000% 02/01/20400.2%
California Muni Fin Auth5.000% 06/01/20500.2%
San Mateo, CA5.500% 09/01/20440.2%
City of Irvine CA5.000% 09/01/20440.2%
River Islands Public Fing Auth5.500% 09/01/20450.2%
Santa Cruz Cnty Redev Agy, CA7.000% 09/01/20360.2%
California Sch Fin Auth5.000% 08/01/20450.2%
Santa Cruz Cnty Redev Agy, CA6.625% 09/01/20290.2%
California5.000% 09/01/20290.2%
California Edl Facs Auth4.000% 04/01/20470.2%
San Joaquin Hills Transp Corridor Agy, CA0.000% 01/15/20360.2%
Puerto Rico Sales Tax Financing Corp5.250% 08/01/20410.2%
California Statewide Comntys Dev Auth5.000% 07/01/20460.2%
Long Beach Bnd Fin Auth5.500% 11/15/20300.2%
County of Orange CA5.000% 09/02/20290.2%
California Muni Fin Auth5.000% 10/01/20320.2%
California Statewide Comntys Dev Auth5.500% 07/01/20390.2%
Golden St Tobacco Securitization Corp.0.000% 06/01/20470.1%
California Statewide Comntys Dev Auth5.000% 07/01/20360.1%
Southwestern Comnty College Dist, CA0.000% 08/01/20410.1%
Southern California Pub Pwr Auth3.050% 11/01/20380.1%
California Statewide Comntys Dev Auth5.000% 07/01/20410.1%
San Diego Cnty Tobacco Asset Securitization Corp0.000% 06/01/20460.1%
California Muni Fin Auth5.000% 10/01/20290.1%
Puerto Rico Sales Tax Fincg Corp5.000% 08/01/20240.1%
San Diego Cnty Tobacco Asset Securitization Corp0.000% 06/01/20460.1%
California Cnty Tobacco Securitization Agy0.000% 06/01/20460.1%
California Muni Fin Auth5.000% 11/15/20320.1%
Foothill Eastern Transportation Corridor Agency5.500% 01/15/20530.1%
San Joaquin Hills Transp Corridor Agy, CA5.000% 01/15/20340.1%
Puerto Rico Elec Pwr Auth7.000% 07/01/20400.1%
Inland Empire Tobacco Securitization Auth0.000% 06/01/20570.0%
Silicon Vly Tobacco Securitization Auth0.000% 06/01/20560.0%
ABAG Fin Auth For Nonprofit Corps, CA5.000% 08/01/20220.0%
Puerto Rico Elec Pwr Auth5.250% 07/01/20240.0%
Puerto Rico Elec Pwr Auth5.250% 07/01/20330.0%

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.

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 07/18/2018
$0.177
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 06/30/2018 $0.02968 $10.87
Daily Daily 05/31/2018 $0.02933 $10.88
Daily Daily 04/30/2018 $0.02967 $10.76
Daily Daily 03/31/2018 $0.02921 $10.83
Daily Daily 02/28/2018 $0.03013 $10.78
Daily Daily 01/31/2018 $0.02922 $10.85

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 07/31/2018
Daily Daily 08/31/2018
Daily Daily 09/30/2018
Daily Daily 10/31/2018
Daily Daily 11/30/2018
Daily Daily 12/31/2018

Fees & Expenses

Fees & Expenses

Expense Ratioas of 06/30/2018

0.55%

Expense ratio details, Click here.

Fund Documents

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

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

 

IMPORTANT INFORMATION

 

1

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.

 

2

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.

 

5

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

 

6

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.

Select funds to run a Morningstar Hypothetical Report.

    Please confirm your literature shipping address

    Please review the address information below and make any necessary changes.

    All literature orders will be shipped to the address that you enter below. This information can be edited at any time.

    Current Literature Shipping Address

    * Required field