CFBAX | Climate Focused Bond Fund Class A | Lord Abbett
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Climate Focused Bond Fund

Daily price w/o sales charge as of 09/24/2021

$10.30

arrowDown$0.02

YTD Returns w/o sales charge as of 09/24/2021

-0.02%

Click here to view all legal text including risk information

Summary

Summary

What is the Climate Focused Bond Fund?

The Fund seeks to deliver total return by investing in the securities of issuers we believe have, or will have, a positive impact on the climate.

 

Yield

Dividend Yield 1 as of 09/24/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.72% 0.00%

30-Day Standardized Yield 2 as of 08/31/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.03% 0.20%

Fund Basicsas of 08/31/2021

Total Net Assets
$23.83 M
Inception Date
05/29/2020
Dividend Frequency
Monthly
Fund Gross Expense Ratio
2.77%
Fund Net Expense Ratio
0.38%
Number of Holdings
230

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge 0.34% 2.64% - - - 5.01%
Lipper Category Avg. General Bond Funds 1.13% 3.61% - - - -
ICE BofA Green Bond Index Hedged USD -0.70% 1.73% - - - 3.48%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge -0.45% 4.04% - - - 5.06%
Lipper Category Avg. General Bond Funds 0.34% 4.99% - - - -
ICE BofA Green Bond Index Hedged USD -2.03% 1.38% - - - 2.75%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

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.

INVESTMENT TEAM

Annika M. Lombardi
Annika M. Lombardi

Portfolio Manager

13 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner & Portfolio Manager

22 Years of Industry Experience

Supported By 64 Investment Professionals with 16 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge 0.34% 2.64% - - - 5.01%
Lipper Category Avg. General Bond Funds 1.13% 3.61% - - - -
ICE BofA Green Bond Index Hedged USD -0.70% 1.73% - - - 3.48%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge -0.45% 4.04% - - - 5.06%
Lipper Category Avg. General Bond Funds 0.34% 4.99% - - - -
ICE BofA Green Bond Index Hedged USD -2.03% 1.38% - - - 2.75%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

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.

Year Fund Returns ICE BofA Green Bond Index Hedged USD
2020 6.00% 6.68%
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 -1.59% 1.16% - - -0.02%
2020 - - 2.35% 2.11% 6.00%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
Convertibles
CMBS
Non-U.S. Investment Grade Corporate
U.S. Investment Grade Corporate
U.S. Government Related
ABS
Non-U.S. High Yield Corporate
U.S. High Yield Corporate
Sovereign
Bank Loans
Municipals
Cash

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

Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

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

Credit Quality Distribution as of 08/31/2021

Rating Assets
U.S. Treasury
AAA
AA
A
BBB
<BBB
Not Rated

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

Portfolio Positioning as of 6/30/2021

  • Relative to the ICE BofA Green Bond Index, the Fund is modestly overweight credit risk. More specifically, the Fund is overweight bonds in the ‘BBB’ and lower credit quality tiers.
  • The stabilization in rates and the positive outlook for renewable energy has created some compelling opportunities in the solar convertible bond space, where we now have a small position.
  • Our view on European-issued green bonds is still positive, as it appears more likely that the European Central Bank (ECB) will favor green bonds in their asset purchase programs in the future

PORTFOLIO DETAILS as of 08/31/2021

Total Net Assets
$23.83 M
Number of Issues
230
Average Coupon
2.32%
Average Life
6.82 Years
Average Effective Duration
5.3 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 Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Asian Infrastructure Investment Bank/The 0.500% 05/28/2025 1.2%
European Bank for Reconstruction & Development 1.625% 09/27/2024 1.2%
Transport for London 2.125% 04/24/2025 1.2%
Canary Wharf Group Investment Holdings PLC 2.625% 04/23/2025 1.2%
Scottish Hydro Electric Transmission PLC 1.500% 03/24/2028 1.2%
Asian Development Bank 3.125% 09/26/2028 1.1%
International Finance Corp 2.125% 04/07/2026 1.0%
Action Logement Services 0.500% 10/30/2034 1.0%
Hamburger Hochbahn AG 0.125% 02/24/2031 1.0%
LeasePlan Corp NV 0.250% 02/23/2026 1.0%
% of Total Assets 11.1%
Holding Coupon Maturity Assets
Canary Wharf Group Investment Holdings PLC2.625% 04/23/20251.6%
United States Treasury Note/Bond0.750% 03/31/20261.3%
Scatec ASA1.952% 08/19/20251.3%
Statnett SF0.518% 06/30/20231.3%
Investment Energy Resources Ltd6.250% 04/26/20291.2%
United States Treasury Note/Bond1.625% 05/15/20311.2%
Nederlandse Financierings-Maatschappij voor Ontwik2.750% 02/20/20241.2%
Korea Water Resources Corp3.875% 05/15/20231.2%
Aegea Finance Sarl5.750% 10/10/20241.2%
Atlantica Sustainable Infrastructure PLC4.125% 06/15/20281.2%
BNG Bank NV1.500% 10/16/20241.2%
Industrial & Commercial Bank of China Ltd/Luxembou2.875% 10/12/20221.1%
Kommuninvest I Sverige AB1.625% 04/24/20231.1%
Greenko Dutch BV3.850% 03/29/20261.1%
Standard Chartered plc1.214% 03/23/20251.1%
Development Bank of Japan Inc0.500% 03/04/20241.1%
JSW Hydro Energy Ltd4.125% 05/18/20311.1%
Nederlandse Waterschapsbank NV1.000% 05/28/20301.1%
Asian Infrastructure Investment Bank/The0.500% 05/28/20251.0%
European Bank for Reconstruction & Development1.625% 09/27/20241.0%
Autonomous Community of Madrid Spain0.419% 04/30/20301.0%
FX USD/EUR 09/210.000% 09/10/20211.0%
French Republic Government Bond OAT0.500% 06/25/20440.9%
Asian Development Bank3.125% 09/26/20280.9%
United States Treasury Note/Bond2.250% 08/15/20490.9%
Co-Operative Group Ltd5.125% 05/17/20240.8%
Transport for London2.125% 04/24/20250.8%
ING Groep NV2.500% 11/15/20300.8%
United States Treasury Note/Bond1.125% 05/15/20400.8%
Barclays plc1.700% 11/03/20260.8%
City of San Francisco CA Public Utilities Commissi6.000% 11/01/20400.8%
Landesbank Baden-Wuerttemberg1.500% 02/03/20250.8%
Severn Trent Utilities Finance PLC2.000% 06/02/20400.8%
Infineon Technologies AG3.625% 04/01/21990.7%
Signify NV2.375% 05/11/20270.7%
AB Ignitis Grupe2.000% 07/14/20270.7%
AIB Group PLC2.875% 05/30/20310.7%
FCC Servicios Medio Ambiente Holding SA1.661% 12/04/20260.7%
Canal de Isabel II Gestion SA1.680% 02/26/20250.7%
Orsted AS2.250% 11/24/30170.7%
Societe Nationale SNCF SA0.625% 04/17/20300.7%
International Bank for Reconstruction & Developmen2.900% 11/26/20250.7%
SNCF Reseau0.750% 05/25/20360.7%
Nordex SE6.500% 02/01/20230.7%
Novelis Sheet Ingot GmbH3.375% 04/15/20290.7%
CANPACK SA / Eastern PA Land Investment Holding LL2.375% 11/01/20270.7%
Wabtec Transportation Netherlands BV1.250% 12/03/20270.7%
Swisscom Finance BV0.375% 11/14/20280.7%
EnBW Energie Baden-Wuerttemberg AG1.625% 08/05/20790.7%
Adif Alta Velocidad0.550% 04/30/20300.7%
Rexel SA2.125% 06/15/20280.7%
Massachusetts Institute of Technology3.959% 07/01/20380.7%
Techem Verwaltungsgesellschaft 674 mbH6.000% 07/30/20260.7%
OI European Group BV2.875% 02/15/20250.7%
Engie SA0.375% 06/21/20270.7%
Nordea Bank Abp0.500% 03/19/20310.7%
Iberdrola International BV1.450% 02/09/21990.7%
Intesa Sanpaolo SpA0.750% 03/16/20280.7%
Energia Group NI FinanceCo PLC/Energia Group ROI H4.000% 09/15/20250.7%
Digital Dutch Finco BV1.000% 01/15/20320.7%
Action Logement Services0.500% 10/30/20340.7%
Province of Ontario Canada1.850% 02/01/20270.7%
Chanel Ceres PLC0.500% 07/31/20260.7%
Ferrovie dello Stato Italiane SpA0.375% 03/25/20280.7%
Ren Finance BV0.500% 04/16/20290.7%
EEW Energy from Waste GmbH0.361% 06/30/20260.7%
EDP - Energias de Portugal SA1.700% 07/20/20800.7%
Ardagh Metal Packaging Finance USA LLC / Ardagh Me3.000% 09/01/20290.7%
CaixaBank SA1.250% 06/18/20310.7%
E.ON SE0.350% 02/28/20300.7%
Alstom SA0.250% 10/14/20260.7%
Cyrusone Europe Finance DAC1.125% 05/26/20280.7%
Paprec Holding SA3.500% 07/01/20280.7%
Hamburger Hochbahn AG0.125% 02/24/20310.7%
LeasePlan Corp NV0.250% 02/23/20260.7%
Bank of Ireland Group PLC0.375% 05/10/20270.7%
Sweden Government International Bond0.125% 09/09/20300.7%
Sweden Government International Bond0.125% 09/09/20300.7%
Advanced Drainage Systems Inc5.000% 09/30/20270.6%
Kreditanstalt fuer Wiederaufbau2.000% 10/04/20220.6%
Signa Development Finance SCS5.500% 07/23/20260.6%
NextEra Energy Capital Holdings, Inc.1.900% 06/15/20280.6%
Tesla Inc5.300% 08/15/20250.6%
Kaiser Foundation Hospitals3.150% 05/01/20270.6%
Equinix Inc1.550% 03/15/20280.6%
Province of Quebec Canada1.850% 02/13/20270.6%
European Investment Bank2.125% 04/13/20260.6%
Kreditanstalt fuer Wiederaufbau0.875% 09/15/20260.6%
One Bryant Park Trust 2019-OBP2.516% 09/15/20540.6%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.6%
TRP - TRIP Rail Master Funding LLC2.150% 06/19/20510.6%
Tesla Auto Lease Trust 2021-A1.020% 03/20/20250.6%
Pentair Finance Sarl4.500% 07/01/20290.6%
International Finance Corp2.000% 10/24/20220.6%
Analog Devices Inc2.950% 04/01/20250.5%
UDR Inc3.100% 11/01/20340.5%
Topaz Solar Farms LLC5.750% 09/30/20390.5%
Johnson Controls International plc / Tyco Fire & S1.750% 09/15/20300.5%
NXP BV / NXP Funding LLC / NXP USA Inc3.400% 05/01/20300.5%
Bank of Nova Scotia/The2.375% 01/18/20230.5%
European Investment Bank2.375% 05/24/20270.5%
Asian Development Bank2.450% 01/17/20240.5%
Switch Ltd3.750% 09/15/20280.5%
Darling Ingredients Inc5.250% 04/15/20270.4%
TerraForm Power Operating LLC4.750% 01/15/20300.4%
City of Dallas TX Waterworks & Sewer System Revenu2.772% 10/01/20400.4%
Citigroup Inc1.678% 05/15/20240.4%
New York City Water & Sewer System5.750% 06/15/20410.4%
Array Technologies Inc3.750% 10/07/20270.4%
City of Los Angeles CA Wastewater System Revenue5.713% 06/01/20390.4%
Italy Buoni Poliennali Del Tesoro1.500% 04/30/20450.4%
Prudential Financial Inc1.500% 03/10/20260.4%
Middle Fork Project Finance Authority5.000% 04/01/20360.4%
Piedmont Operating Partnership LP3.150% 08/15/20300.4%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.3%
Alexandria Real Estate Equities, Inc.3.800% 04/15/20260.3%
Alerion Cleanpower SpA3.125% 12/19/20250.3%
Dispatch Acquisition Ho5.000% 03/17/20280.3%
PayPal Holdings Inc1.650% 06/01/20250.3%
Metropolitan Transportation Authority5.175% 11/15/20490.3%
Bundesrepublik Deutschland Bundesanleihe0.000% 08/15/20500.3%
San Diego County Water Authority1.951% 05/01/20340.3%
NextEra Energy Operating Partners LP4.500% 09/15/20270.3%
Tucson Electric Power Co1.500% 08/01/20300.3%
Owens Corning3.950% 08/15/20290.3%
Pattern Energy Operations LP / Pattern Energy Oper4.500% 08/15/20280.3%
Weyerhaeuser Co6.875% 12/15/20330.3%
AI Aqua Merger Sub, Inc.0.000% 06/17/20280.3%
Pfizer Inc2.625% 04/01/20300.3%
American Water Capital Corp2.800% 05/01/20300.3%
Kilroy Realty LP4.750% 12/15/20280.3%
Verizon Communications Inc3.875% 02/08/20290.3%
Mueller Water Products Inc4.000% 06/15/20290.3%
City of Corpus Christi TX Utility System Revenue1.966% 07/15/20300.3%
Clearway Energy Operating LLC3.750% 02/15/20310.3%
Northern States Power Co/MN2.600% 06/01/20510.3%
EWT Holdings III Corp2.623% 03/10/20280.3%
Aptiv PLC4.350% 03/15/20290.2%
Asian Infrastructure Investment Bank/The0.200% 12/15/20250.2%
City of Philadelphia PA Water & Wastewater Revenue1.734% 11/01/20280.2%
BorgWarner Inc3.375% 03/15/20250.2%
Generac Holdings, Inc.2.185% 12/13/20260.2%
PepsiCo Inc2.875% 10/15/20490.2%
Sysco Corp2.400% 02/15/20300.2%
Liberty Utilities Finance GP 12.050% 09/15/20300.2%
Refficiency Holdings LLC4.750% 12/10/20270.2%
Xylem Inc/NY3.250% 11/01/20260.2%
Apple Inc3.000% 06/20/20270.2%
Fiserv Inc3.200% 07/01/20260.2%
Starbucks Corp4.450% 08/15/20490.2%
Global Payments Inc3.750% 06/01/20230.2%
Renewable Energy Group Inc5.875% 06/01/20280.2%
Exgen Renewables IV, LLC3.500% 12/10/20270.2%
Xylem Inc/NY2.250% 01/30/20310.2%
Filtration Group Corp.4.335% 03/29/20250.2%
Visa Inc0.750% 08/15/20270.2%
Aptiv Corp4.150% 03/15/20240.2%
Regional Transportation District Sales Tax Revenue2.337% 11/01/20360.1%
Suzano Austria GmbH3.750% 01/15/20310.1%
Bank of Nova Scotia/The0.650% 07/31/20240.1%
Dana Inc4.250% 09/01/20300.1%
Madison IAQ LLC5.875% 06/30/20290.1%
Interstate Power and Light Co3.500% 09/30/20490.1%
Sunrun Inc0.000% 02/01/20260.1%
Alexandria Real Estate Equities, Inc.2.000% 05/18/20320.1%
Itron Inc0.000% 03/15/20260.1%
FX USD/GBP 09/210.000% 09/08/20210.1%
International Bank for Reconstruction & Developmen0.250% 01/29/20290.1%
International Bank for Reconstruction & Developmen1.200% 07/22/20260.1%
Bingo Industries Ltd0.000% 07/09/20280.1%
MidAmerican Energy Co3.950% 08/01/20470.1%
SolarEdge Technologies Inc0.000% 09/15/20250.1%
Leeward Renewable Energy Operations LLC4.250% 07/01/20290.1%
Union Electric Co2.625% 03/15/20510.1%
Algonquin Power & Utilities Corp0.000% 06/15/20240.1%
Enphase Energy Inc0.000% 03/01/20260.1%
United States Treasury Note/Bond1.625% 11/15/20500.1%
FX USD/AUD 09/210.000% 09/01/20210.1%
Tesla Inc2.000% 05/15/20240.1%
Core & Main LP6.125% 08/15/20250.1%
NextEra Energy Partners LP0.000% 06/15/20240.1%
NIO Inc0.500% 02/01/20270.0%
Osmosis Debt Merger Sub0.000% 06/17/20280.0%
Refficiency Holdings LLC4.000% 12/11/20270.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
AI Aqua Merger Sub Inc5.669% 12/13/20230.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
EURO BUXL 30Y BND SEP210.000% 09/10/20210.0%
EURO-BOBL FUT SEP210.000% 09/10/20210.0%
EURO-BUND FUTURE SEP210.000% 09/10/20210.0%
FX EUR/USD 09/210.000% 09/10/20210.0%
FX USD/GBP 09/210.000% 09/08/20210.0%
US 2YR NOTE (CBT) SEP210.000% 10/05/20210.0%
US ULTRA BOND CBT SEP210.000% 09/30/20210.0%
US 10YR ULTRA FUT SEP210.000% 09/30/20210.0%
US 5YR NOTE (CBT) SEP210.000% 10/05/20210.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
FX EUR/USD 09/210.000% 09/10/20210.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
FX EUR/USD 09/210.000% 09/10/20210.0%
FX USD/SEK 10/210.000% 10/21/20210.0%
FX USD/CAD 10/210.000% 10/20/20210.0%

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.

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2021

Fund Gross Expense Ratio Fund Net Expense Ratio
2.77% 0.38%

Expense ratio details, Click here.

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*Barron’s Overall Fund Family of 2020,” #7 overall ranking among 53 qualifying fund families based on the net total return of the one-year period ending 12/31/2020. Five-year overall ranking is #4 out of 50 qualifying fund families; and 10-year overall ranking is #21 out of 44 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2020,” February 20, 2021. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2020, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.

© Refinitiv Lipper 2021. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

New Fund Risk: The Fund is recently organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investment strategy.

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of your investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. The Fund is subject to the risk that its climate-focused investment strategy may select or exclude securities of certain issuers for reasons other than investment performance considerations which may negatively affect its performance relative to unconstrained peers. Certain climate-focused investments may be dependent on government policies and subsidies, which are subject to change or elimination. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. The fund performance history at this time is very limited; therefore, performance achieved during its initial period of investment operation may not be replicated over longer periods and may not be indicative of how the Fund will perform in the future. These factors can affect Fund performance.

The ICE BofA Green Bond Index tracks securities issued for qualified green purposes that promote climate change mitigation or adaption. Qualifying bonds must have a clearly designated use of proceeds that is solely applied toward projects or activities that promote climate change mitigation or adaptation or other environmental sustainability purposes as outlined by the ICMA Green Bond Principles. General debt obligations of corporations that are involved in green industries are not included. The index includes debt of sovereign, quasi-government and corporate issuers, but excludes securitized and collateralized securities.

Source: ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofA INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofA INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

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