LCFIX | California Tax Free Fund Class A | Lord Abbett

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California Tax Free Fund

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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

30-Day Standardized Yield 1 as of 09/30/2024  

3.04%

Average Yield to Worst as of 09/30/2024

3.88%

Fund Basicsas of 09/30/2024

Total Net Assets
$665.19 M
Inception Date
09/03/1985
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.76%
Fund Net Expense Ratio
0.76%
Number of Holdings
275
Minimum Initial Investment
$1,000+

Fund Expense Ratio :

Gross 0.76%

Net 0.76%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/03/1985
w/o sales charge 1.86% 12.16% -1.45% 0.40% 2.22% 5.11%
Lipper Category Avg. California Municipal Debt Funds - - - - - -
Bloomberg Municipal Bond Index 0.80% 9.70% -0.30% 1.05% 2.30% -
w/ sales charge -0.47% 9.58% -2.20% -0.05% 1.99% 5.05%

Fund Expense Ratio :

Gross 0.76%

Net 0.76%

Fund Expense Ratio :

Gross 0.76%

Net 0.76%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/03/1985
w/o sales charge 3.38% 11.78% -0.99% 0.69% 2.47% 5.16%
Lipper Category Avg. California Municipal Debt Funds 3.71% 11.94% -0.28% 1.07% 2.43% -
Bloomberg Municipal Bond Index 2.30% 10.37% 0.09% 1.39% 2.52% -
w/ sales charge 1.01% 9.26% -1.74% 0.24% 2.24% 5.10%

Fund Expense Ratio :

Gross 0.76%

Net 0.76%

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

Credit Quality Distribution as of 09/30/2024

Rating Assets
AAA
AA
A
BBB
< BBB
Not Rated

Investment Team

Daniel S. Solender
Daniel S. Solender, CFA

Partner, Director of Tax Free Fixed Income

37 Years of Industry Experience

Gregory M. Shuman
Gregory M. Shuman, CFA

Partner, Portfolio Manager

14 Years of Industry Experience

Supported By 18 Investment Professionals with 13 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Worst as of 09/30/2024

3.88%

30-Day Standardized Yield 1 as of 09/30/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 3.04% 3.04%

Fund Expense Ratio :

Gross 0.76%

Net 0.76%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/03/1985
w/o sales charge 1.86% 12.16% -1.45% 0.40% 2.22% 5.11%
Lipper Category Avg. California Municipal Debt Funds - - - - - -
Bloomberg Municipal Bond Index 0.80% 9.70% -0.30% 1.05% 2.30% -
w/ sales charge -0.47% 9.58% -2.20% -0.05% 1.99% 5.05%

Fund Expense Ratio :

Gross 0.76%

Net 0.76%

Fund Expense Ratio :

Gross 0.76%

Net 0.76%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/03/1985
w/o sales charge 3.38% 11.78% -0.99% 0.69% 2.47% 5.16%
Lipper Category Avg. California Municipal Debt Funds 3.71% 11.94% -0.28% 1.07% 2.43% -
Bloomberg Municipal Bond Index 2.30% 10.37% 0.09% 1.39% 2.52% -
w/ sales charge 1.01% 9.26% -1.74% 0.24% 2.24% 5.10%

Fund Expense Ratio :

Gross 0.76%

Net 0.76%

Year Fund Returns Bloomberg Municipal Bond Index
2023 6.94% 6.40%
2022 -13.33% -8.53%
2021 2.65% 1.52%
2020 4.64% 5.21%
2019 9.30% 7.54%
2018 0.50% 1.28%
2017 6.71% 5.45%
2016 0.15% 0.25%
2015 3.64% 3.30%
2014 13.20% 9.05%
2013 -3.92% -
2012 11.88% -
2011 11.18% -
2010 0.99% -
2009 20.07% -
2008 -13.46% -
2007 -0.56% -
2006 4.19% -
2005 3.95% -
2004 4.46% -
Year Q1 Q2 Q3 Q4
2024 0.22% 0.54% 2.61% -
2023 2.88% 0.57% -4.40% 8.12%
2022 -8.13% -6.13% -3.97% 4.65%
2021 -0.29% 2.38% -0.75% 1.31%
2020 -2.90% 3.30% 1.48% 2.80%
2019 3.32% 2.84% 2.29% 0.56%
2018 -0.97% 1.14% -0.25% 0.60%
2017 1.86% 2.38% 1.01% 1.31%
2016 1.95% 3.63% -0.03% -5.18%
2015 1.11% -1.26% 1.70% 2.07%
2014 4.66% 3.61% 2.38% 1.97%
2013 0.48% -3.91% -0.73% 0.25%
2012 4.49% 1.78% 3.42% 1.72%
2011 -0.74% 5.27% 3.63% 2.68%
2010 1.59% 1.40% 4.53% -6.21%
2009 6.14% 4.21% 10.78% -2.00%
2008 -2.47% 1.36% -5.84% -7.03%
2007 0.61% -0.94% 0.04% -0.26%
2006 0.25% -0.24% 2.97% 1.17%
2005 0.32% 3.10% -0.03% 0.53%
2004 2.03% -2.95% 4.01% 1.43%
2003 0.69% 2.98% -1.69% 1.70%
2002 0.03% 3.01% 5.49% -0.99%
2001 1.78% -0.68% 4.28% -0.97%
2000 4.00% 1.41% 3.32% 5.39%
1999 0.71% -2.95% -2.06% -2.14%
1998 0.83% 1.57% 3.42% 0.19%
1997 -0.81% 3.11% 3.53% 2.78%
1996 -1.96% 0.57% 2.48% 2.36%
1995 7.75% 2.21% 2.16% 4.36%
1994 -7.30% -0.36% 0.35% -3.46%
1993 5.07% 3.47% 3.93% 0.82%
1992 0.17% 4.58% 2.03% 2.01%
1991 1.91% 2.69% 4.31% 3.89%
1990 0.47% 2.36% 0.01% 4.27%
1989 0.64% 6.08% -0.13% 3.02%
1988 2.92% 2.21% 2.97% 2.75%
1987 2.88% -6.58% -4.12% 6.92%
1986 8.50% -0.68% 5.52% 4.54%

Growth of $10,000 as of 09/30/2024

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Sector Assets
Transportation
Healthcare/Hospital
IDR/PCR
Education
GO Local
Special Tax
Power
Lease
Housing
Water & Sewer
GO State
VRDN
Other
Pre-Refunded
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
By State Assets
CA
Puerto Rico
Other U.S. Territories

CREDIT QUALITY DISTRIBUTION as of 09/30/2024

Rating Assets
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Details as of 09/30/2024

Total Net Assets
$665.19 M
Average Effective Duration
8.19 Years
Average Effective Maturity
20.9 Years
Average Yield to Worst
3.88%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 11/01/2024
$0.27746
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 10/31/2024 $0.02790 $10.15
Daily Daily 09/30/2024 $0.02816 $10.33
Daily Daily 08/31/2024 $0.02784 $10.23
Daily Daily 07/31/2024 $0.02782 $10.21
Daily Daily 06/30/2024 $0.02810 $10.15
Daily Daily 05/31/2024 $0.02763 $10.02
Daily Daily 04/30/2024 $0.02782 $10.03
Daily Daily 03/31/2024 $0.02726 $10.18
Daily Daily 02/29/2024 $0.02789 $10.20
Daily Daily 01/31/2024 $0.02705 $10.21

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 11/30/2024
Daily Daily 12/31/2024

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
09/08/1993 09/15/1993 - - $0.3500 $11.60

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 11/01/2024

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $10.38
$100,000 to $249,999 1.75% 1.50% $10.33
Greater than $250,000 0.00% 1.00% $10.15

Expense Ratioas of 09/30/2024

Fund Gross Expense Ratio 0.76%
Fund Net Expense Ratio 0.76%
Adjusted Expense Ratio -

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
* includes items 7-11 of form N-CSR as required, if any.

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The Bloomberg 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.

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