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

Dividend Yield 1 as of 10/06/2022  

w/o sales charge 2.85%
w/ sales charge 2.79%

30-Day Standardized Yield 2 as of 08/31/2022  

2.94%

Fund Basicsas of 08/31/2022

Total Net Assets
$479.70 M
Inception Date
09/03/1985
Dividend Frequency
Monthly
Fund Expense Ratio
0.77%
Number of Holdings
311
Minimum Initial Investment
$1,000+

Fund Expense Ratio :

0.77%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/03/1985
w/o sales charge -17.18% -16.10% -3.65% -0.20% 1.82% 5.03%
Lipper Category Avg. California Municipal Debt Funds -14.59% -13.78% -2.87% 0.01% 1.73% -
Bloomberg Municipal Bond Index -12.13% -11.50% -1.85% 0.59% 1.79% -
w/ sales charge -19.05% -18.01% -4.37% -0.65% 1.58% 4.97%

Fund Expense Ratio :

0.77%

Fund Expense Ratio :

0.77%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/03/1985
w/o sales charge -17.18% -16.10% -3.65% -0.20% 1.82% 5.03%
Lipper Category Avg. California Municipal Debt Funds -14.59% -13.78% -2.87% 0.01% 1.73% -
Bloomberg Municipal Bond Index -12.13% -11.50% -1.85% 0.59% 1.79% -
w/ sales charge -19.05% -18.01% -4.37% -0.65% 1.58% 4.97%

Fund Expense Ratio :

0.77%

The Muni Quarterly

The Muni Quarterly offers insights from our analysts on key topics for municipal bond investors, along with essential market information.

Sector Assets
Transportation
IDR/PCR
Healthcare/Hospital
Education
GO Local
Special Tax
Housing
Power
GO State
Water & Sewer
Lease
Pre-Refunded
Other
Treasury
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 08/31/2022

Rating Assets
AAA
AA
A
BBB
< BBB
Not Rated

Investment Team

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

35 Years of Industry Experience

Greg Shuman
Gregory M. Shuman, CFA

Portfolio Manager

12 Years of Industry Experience

Sue Kim
Carson Houle, CFA

Associate Portfolio Manager

7 Years of Industry Experience

Supported By 16 Investment Professionals with 15 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 10/06/2022  

w/o sales charge 2.85%
w/ sales charge 2.79%

30-Day Standardized Yield 2 as of 08/31/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.94% 2.94%

Fund Expense Ratio :

0.77%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/03/1985
w/o sales charge -17.18% -16.10% -3.65% -0.20% 1.82% 5.03%
Lipper Category Avg. California Municipal Debt Funds -14.59% -13.78% -2.87% 0.01% 1.73% -
Bloomberg Municipal Bond Index -12.13% -11.50% -1.85% 0.59% 1.79% -
w/ sales charge -19.05% -18.01% -4.37% -0.65% 1.58% 4.97%

Fund Expense Ratio :

0.77%

Fund Expense Ratio :

0.77%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/03/1985
w/o sales charge -17.18% -16.10% -3.65% -0.20% 1.82% 5.03%
Lipper Category Avg. California Municipal Debt Funds -14.59% -13.78% -2.87% 0.01% 1.73% -
Bloomberg Municipal Bond Index -12.13% -11.50% -1.85% 0.59% 1.79% -
w/ sales charge -19.05% -18.01% -4.37% -0.65% 1.58% 4.97%

Fund Expense Ratio :

0.77%

Year Fund Returns Bloomberg Municipal Bond Index
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% -2.55%
2012 11.88% 6.78%
2011 11.18% -
2010 0.99% -
2009 20.07% -
2008 -13.46% -
2007 -0.56% -
2006 4.19% -
2005 3.95% -
2004 4.46% -
2003 3.68% -
2002 7.63% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -8.13% -6.13% -3.97% - -16.10%
2021 -0.29% 2.38% -0.75% 1.31% 2.65%
2020 -2.90% 3.30% 1.48% 2.80% 4.64%
2019 3.32% 2.84% 2.29% 0.56% 9.30%
2018 -0.97% 1.14% -0.25% 0.60% 0.50%
2017 1.86% 2.38% 1.01% 1.31% 6.71%
2016 1.95% 3.63% -0.03% -5.18% 0.15%
2015 1.11% -1.26% 1.70% 2.07% 3.64%
2014 4.66% 3.61% 2.38% 1.97% 13.20%
2013 0.48% -3.91% -0.73% 0.25% -3.92%
2012 4.49% 1.78% 3.42% 1.72% 11.88%
2011 -0.74% 5.27% 3.63% 2.68% 11.18%
2010 1.59% 1.40% 4.53% -6.21% 0.99%
2009 6.14% 4.21% 10.78% -2.00% 20.07%
2008 -2.47% 1.36% -5.84% -7.03% -13.46%
2007 0.61% -0.94% 0.04% -0.26% -0.56%
2006 0.25% -0.24% 2.97% 1.17% 4.19%
2005 0.32% 3.10% -0.03% 0.53% 3.95%
2004 2.03% -2.95% 4.01% 1.43% 4.46%
2003 0.69% 2.98% -1.69% 1.70% 3.68%
2002 0.03% 3.01% 5.49% -0.99% 7.63%
2001 1.78% -0.68% 4.28% -0.97% 4.40%
2000 4.00% 1.41% 3.32% 5.39% 14.86%
1999 0.71% -2.95% -2.06% -2.14% -6.35%
1998 0.83% 1.57% 3.42% 0.19% 6.11%
1997 -0.81% 3.11% 3.53% 2.78% 8.85%
1996 -1.96% 0.57% 2.48% 2.36% 3.43%
1995 7.75% 2.21% 2.16% 4.36% 17.41%
1994 -7.30% -0.36% 0.35% -3.46% -10.50%
1993 5.07% 3.47% 3.93% 0.82% 13.87%
1992 0.17% 4.58% 2.03% 2.01% 9.01%
1991 1.91% 2.69% 4.31% 3.89% 13.41%
1990 0.47% 2.36% 0.01% 4.27% 7.23%
1989 0.64% 6.08% -0.13% 3.02% 9.85%
1988 2.92% 2.21% 2.97% 2.75% 11.27%
1987 2.88% -6.58% -4.12% 6.92% -1.45%
1986 8.50% -0.68% 5.52% 4.54% 18.87%
1985 - - - 8.05% 4.99%

Growth of $10,000 as of 07/31/2021

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Sector Assets
Transportation
IDR/PCR
Healthcare/Hospital
Education
GO Local
Special Tax
Housing
Power
GO State
Water & Sewer
Lease
Pre-Refunded
Other
Treasury
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 08/31/2022

Rating Assets
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Details as of 08/31/2022

Total Net Assets
$479.70 M
Number of Issues
311
Average Coupon
4.4%
Average Effective Maturity
19.0 Years
Average Effective Duration
9.38 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 10/06/2022
$0.193
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2022 $0.02291 $9.51
Daily Daily 08/31/2022 $0.02222 $10.02
Daily Daily 07/31/2022 $0.02225 $10.32
Daily Daily 06/30/2022 $0.02209 $9.97
Daily Daily 05/31/2022 $0.02145 $10.34
Daily Daily 04/30/2022 $0.02187 $10.20
Daily Daily 03/31/2022 $0.02073 $10.69
Daily Daily 02/28/2022 $0.02035 $11.16
Daily Daily 01/31/2022 $0.01986 $11.28

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 10/31/2022
Daily Daily 11/30/2022
Daily Daily 12/31/2022

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

Upcoming Capital Gain Distribution

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
12/21/2022 12/22/2022

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 10/06/2022

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $9.85
$100,000 to $249,999 1.75% 1.50% $9.80
$250,000 to $499,999 0.00% 1.00% $9.63
$500,000 to $999,999 0.00% 1.00% $9.63
$1,000,000 to $5,000,000 0.00% 1.00% $9.63

Expense Ratioas of 09/30/2022

0.77%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
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

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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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