Climate Focused Bond Fund

CFBUX

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Daily price w/o sales charge as of 07/28/2021

$10.37

$0.00

YTD Returns w/o sales charge as of 07/28/2021

0.47%

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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 07/28/2021

	Subsidized³	Un-Subsidized⁴
w/o sales charge	1.87%	0.00%

30-Day Standardized Yield ² as of 06/30/2021

	Subsidized³	Un-Subsidized⁴
w/o sales charge	1.13%	0.49%

Fund Basicsas of 06/30/2021

Total Net Assets: $17.98 M
Inception Date: 05/29/2020
Dividend Frequency: Monthly
Fund Gross Expense Ratio: 2.77%
Fund Net Expense Ratio: 0.38%
Number of Holdings: 196

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	-0.35%	4.04%	-	-	-	5.05%
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%

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	-0.35%	4.04%	-	-	-	5.05%
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

Portfolio Manager

13 Years of Industry Experience

Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

22 Years of Industry Experience

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

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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	-0.35%	4.04%	-	-	-	5.05%
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%

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	-0.35%	4.04%	-	-	-	5.05%
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%

Year	Fund Returns	ICE BofA Green Bond Index Hedged USD

2020

5.90%

6.68%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2021	-1.49%	1.16%	-	-	0.47%
2020	-	-	2.35%	2.02%	5.90%

NAV Historical Prices

Date	Net Asset Value

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

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

Credit Quality Distribution as of 06/30/2021

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 06/30/2021

Total Net Assets: $17.98 M
Number of Issues: 196
Average Coupon: 2.36%
Average Life: 6.72 Years
Average Effective Duration: 5 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 Life - Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security. Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.

Holding	Coupon	Maturity	Assets

United States Treasury Note/Bond	0.750%	03/31/2026	2.2%
Canary Wharf Group Investment Holdings PLC	2.625%	04/23/2025	1.6%
Scatec ASA	1.952%	08/19/2025	1.3%
Statnett SF	0.518%	06/30/2023	1.3%
Investment Energy Resources Ltd	6.250%	04/26/2029	1.2%
Nederlandse Financierings-Maatschappij voor Ontwik	2.750%	02/20/2024	1.2%
United States Treasury Note/Bond	1.625%	05/15/2031	1.2%
Korea Water Resources Corp	3.875%	05/15/2023	1.2%
Aegea Finance Sarl	5.750%	10/10/2024	1.2%
Greenko Dutch BV	3.850%	03/29/2026	1.1%

% of Total Assets			13.5%

Holding	Coupon	Maturity	Assets

United States Treasury Note/Bond	0.750%	03/31/2026	2.3%
Canary Wharf Group Investment Holdings PLC	2.625%	04/23/2025	1.6%
Statnett SF	0.518%	06/30/2023	1.4%
Scatec ASA	1.952%	08/19/2025	1.4%
United States Treasury Note/Bond	0.625%	08/15/2030	1.2%
Investment Energy Resources Ltd	6.250%	04/26/2029	1.2%
Nederlandse Financierings-Maatschappij voor Ontwik	2.750%	02/20/2024	1.2%
Korea Water Resources Corp	3.875%	05/15/2023	1.2%
Aegea Finance Sarl	5.750%	10/10/2024	1.2%
BNG Bank NV	1.500%	10/16/2024	1.2%
Greenko Dutch BV	3.850%	03/29/2026	1.2%
Industrial & Commercial Bank of China Ltd/Luxembou	2.875%	10/12/2022	1.2%
Kommuninvest I Sverige AB	1.625%	04/24/2023	1.2%
Standard Chartered plc	1.214%	03/23/2025	1.1%
JSW Hydro Energy Ltd	4.125%	05/18/2031	1.1%
Atlantica Sustainable Infrastructure PLC	4.125%	06/15/2028	1.1%
Development Bank of Japan Inc	0.500%	03/04/2024	1.1%
Nederlandse Waterschapsbank NV	1.000%	05/28/2030	1.1%
Asian Infrastructure Investment Bank/The	0.500%	05/28/2025	1.0%
Autonomous Community of Madrid Spain	0.419%	04/30/2030	1.0%
European Bank for Reconstruction & Development	1.625%	09/27/2024	1.0%
Co-Operative Group Ltd	5.125%	05/17/2024	0.9%
Asian Development Bank	3.125%	09/26/2028	0.9%
Transport for London	2.125%	04/24/2025	0.9%
ING Groep NV	2.500%	11/15/2030	0.8%
Barclays plc	1.700%	11/03/2026	0.8%
Landesbank Baden-Wuerttemberg	1.500%	02/03/2025	0.8%
Severn Trent Utilities Finance PLC	2.000%	06/02/2040	0.8%
AB Ignitis Grupe	2.000%	07/14/2027	0.8%
City of San Francisco CA Public Utilities Commissi	6.000%	11/01/2040	0.8%
Signify NV	2.375%	05/11/2027	0.8%
Orsted AS	1.500%	11/26/2029	0.8%
United States Treasury Note/Bond	1.125%	05/15/2040	0.8%
Infineon Technologies AG	3.625%	04/01/2199	0.8%
AIB Group PLC	2.875%	05/30/2031	0.8%
Infineon Technologies AG	1.625%	06/24/2029	0.8%
International Bank for Reconstruction & Developmen	2.900%	11/26/2025	0.7%
Cassa Depositi e Prestiti SpA	2.125%	09/27/2023	0.7%
FCC Servicios Medio Ambiente Holding SA	1.661%	12/04/2026	0.7%
Canal de Isabel II Gestion SA	1.680%	02/26/2025	0.7%
Orsted AS	2.250%	11/24/3017	0.7%
Techem Verwaltungsgesellschaft 674 mbH	6.000%	07/30/2026	0.7%
BNP Paribas SA	1.125%	08/28/2024	0.7%
Nordex SE	6.500%	02/01/2023	0.7%
Intesa Sanpaolo SpA	1.500%	04/10/2024	0.7%
Novelis Sheet Ingot GmbH	3.375%	04/15/2029	0.7%
Societe Nationale SNCF SA	0.625%	04/17/2030	0.7%
Paprec Holding SA	4.000%	03/31/2025	0.7%
OI European Group BV	2.875%	02/15/2025	0.7%
CANPACK SA / Eastern PA Land Investment Holding LL	2.375%	11/01/2027	0.7%
EnBW Energie Baden-Wuerttemberg AG	1.625%	08/05/2079	0.7%
Energia Group NI FinanceCo PLC/Energia Group ROI H	4.000%	09/15/2025	0.7%
Rexel SA	2.125%	06/15/2028	0.7%
Engie SA	0.375%	06/21/2027	0.7%
Province of Ontario Canada	1.850%	02/01/2027	0.7%
EDP - Energias de Portugal SA	1.700%	07/20/2080	0.7%
Swisscom Finance BV	0.375%	11/14/2028	0.7%
SNCF Reseau	0.750%	05/25/2036	0.7%
Chanel Ceres PLC	0.500%	07/31/2026	0.7%
Iberdrola International BV	1.450%	02/09/2199	0.7%
Adif Alta Velocidad	0.550%	04/30/2030	0.7%
Ardagh Metal Packaging Finance USA LLC / Ardagh Me	3.000%	09/01/2029	0.7%
Alstom SA	0.250%	10/14/2026	0.7%
Wabtec Transportation Netherlands BV	1.250%	12/03/2027	0.7%
Ferrovie dello Stato Italiane SpA	0.375%	03/25/2028	0.7%
LeasePlan Corp NV	0.250%	02/23/2026	0.7%
Ren Finance BV	0.500%	04/16/2029	0.7%
Bank of Ireland Group PLC	0.375%	05/10/2027	0.7%
E.ON SE	0.350%	02/28/2030	0.7%
Cyrusone Europe Finance DAC	1.125%	05/26/2028	0.7%
Hamburger Hochbahn AG	0.125%	02/24/2031	0.7%
Action Logement Services	0.500%	10/30/2034	0.7%
Digital Dutch Finco BV	1.000%	01/15/2032	0.7%
Massachusetts Institute of Technology	3.959%	07/01/2038	0.7%
Sweden Government International Bond	0.125%	09/09/2030	0.7%
Sweden Government International Bond	0.125%	09/09/2030	0.7%
Advanced Drainage Systems Inc	5.000%	09/30/2027	0.7%
Kreditanstalt fuer Wiederaufbau	2.000%	10/04/2022	0.7%
Tesla Inc	5.300%	08/15/2025	0.6%
Province of Quebec Canada	1.850%	02/13/2027	0.6%
Kaiser Foundation Hospitals	3.150%	05/01/2027	0.6%
Kreditanstalt fuer Wiederaufbau	0.875%	09/15/2026	0.6%
Equinix Inc	1.550%	03/15/2028	0.6%
European Investment Bank	2.125%	04/13/2026	0.6%
One Bryant Park Trust 2019-OBP	2.516%	09/15/2054	0.6%
Pentair Finance Sarl	4.500%	07/01/2029	0.6%
N/A	2.150%	06/19/2051	0.6%
International Finance Corp	2.000%	10/24/2022	0.6%
HAT Holdings I LLC / HAT Holdings II LLC	3.750%	09/15/2030	0.6%
French Republic Government Bond OAT	0.500%	06/25/2044	0.6%
Switch Ltd	3.750%	09/15/2028	0.5%
Analog Devices Inc	2.950%	04/01/2025	0.5%
United States Treasury Note/Bond	1.375%	08/15/2050	0.5%
Asian Development Bank	2.450%	01/17/2024	0.5%
Topaz Solar Farms LLC	5.750%	09/30/2039	0.5%
Bank of Nova Scotia/The	2.375%	01/18/2023	0.5%
UDR Inc	3.100%	11/01/2034	0.5%
Johnson Controls International plc / Tyco Fire & S	1.750%	09/15/2030	0.5%
NXP BV / NXP Funding LLC / NXP USA Inc	3.400%	05/01/2030	0.5%
European Investment Bank	2.375%	05/24/2027	0.5%
Darling Ingredients Inc	5.250%	04/15/2027	0.4%
TerraForm Power Operating LLC	4.750%	01/15/2030	0.4%
Citigroup Inc	1.678%	05/15/2024	0.4%
City of Dallas TX Waterworks & Sewer System Revenu	2.772%	10/01/2040	0.4%
NextEra Energy Operating Partners LP	4.500%	09/15/2027	0.4%
Array Technologies Inc	3.750%	10/07/2027	0.4%
New York City Water & Sewer System	5.750%	06/15/2041	0.4%
Mueller Water Products Inc	5.500%	06/15/2026	0.4%
Prudential Financial Inc	1.500%	03/10/2026	0.4%
Italy Buoni Poliennali Del Tesoro	1.500%	04/30/2045	0.4%
City of Los Angeles CA Wastewater System Revenue	5.713%	06/01/2039	0.4%
Enviva Partners LP / Enviva Partners Finance Corp	6.500%	01/15/2026	0.4%
Alerion Cleanpower SpA	3.125%	12/19/2025	0.4%
Dispatch Acquisition Ho	5.000%	03/17/2028	0.4%
PayPal Holdings Inc	1.650%	06/01/2025	0.4%
Middle Fork Project Finance Authority	5.000%	04/01/2036	0.4%
Alexandria Real Estate Equities, Inc.	3.800%	04/15/2026	0.4%
City of Charleston SC Waterworks & Sewer System Re	1.890%	01/01/2033	0.3%
Piedmont Operating Partnership LP	3.150%	08/15/2030	0.3%
San Diego County Water Authority	1.951%	05/01/2034	0.3%
Metropolitan Transportation Authority	5.175%	11/15/2049	0.3%
Tucson Electric Power Co	1.500%	08/01/2030	0.3%
Owens Corning	3.950%	08/15/2029	0.3%
Pattern Energy Operations LP / Pattern Energy Oper	4.500%	08/15/2028	0.3%
Weyerhaeuser Co	6.875%	12/15/2033	0.3%
Pfizer Inc	2.625%	04/01/2030	0.3%
Kilroy Realty LP	4.750%	12/15/2028	0.3%
American Water Capital Corp	2.800%	05/01/2030	0.3%
Verizon Communications Inc	3.875%	02/08/2029	0.3%
Mueller Water Products Inc	4.000%	06/15/2029	0.3%
City of Corpus Christi TX Utility System Revenue	1.966%	07/15/2030	0.3%
Tesla Auto Lease Trust 2021-A	1.020%	03/20/2025	0.3%
Morgan Stanley Capital Barclays Bank Trust 2016-MA	2.200%	09/13/2031	0.3%
EWT Holdings III Corp	2.622%	03/10/2028	0.3%
Clearway Energy Operating LLC	3.750%	02/15/2031	0.3%
Northern States Power Co/MN	2.600%	06/01/2051	0.3%
Asian Infrastructure Investment Bank/The	0.200%	12/15/2025	0.2%
Renewable Energy Group Inc	5.875%	06/01/2028	0.2%
City of Philadelphia PA Water & Wastewater Revenue	1.734%	11/01/2028	0.2%
Aptiv PLC	4.350%	03/15/2029	0.2%
BorgWarner Inc	3.375%	03/15/2025	0.2%
Generac Holdings, Inc.	2.225%	12/13/2026	0.2%
Sysco Corp	2.400%	02/15/2030	0.2%
PepsiCo Inc	2.875%	10/15/2049	0.2%
AI Aqua Merger Sub Inc	5.691%	12/13/2023	0.2%
Liberty Utilities Finance GP 1	2.050%	09/15/2030	0.2%
Refficiency Holdings LLC	4.750%	12/10/2027	0.2%
Apple Inc	3.000%	06/20/2027	0.2%
Fiserv Inc	3.200%	07/01/2026	0.2%
Xylem Inc/NY	3.250%	11/01/2026	0.2%
Global Payments Inc	3.750%	06/01/2023	0.2%
Exgen Renewables IV, LLC	3.750%	12/10/2027	0.2%
Xylem Inc/NY	2.250%	01/30/2031	0.2%
Starbucks Corp	4.450%	08/15/2049	0.2%
Filtration Group Corp.	4.400%	03/29/2025	0.2%
Aptiv Corp	4.150%	03/15/2024	0.2%
Visa Inc	0.750%	08/15/2027	0.2%
Suzano Austria GmbH	3.750%	01/15/2031	0.1%
Regional Transportation District Sales Tax Revenue	2.337%	11/01/2036	0.1%
City & County Honolulu HI Wastewater System Revenu	1.623%	07/01/2031	0.1%
Dana Inc	4.250%	09/01/2030	0.1%
Itron Inc	0.000%	03/15/2026	0.1%
International Bank for Reconstruction & Developmen	0.250%	01/29/2029	0.1%
Interstate Power and Light Co	3.500%	09/30/2049	0.1%
Alexandria Real Estate Equities, Inc.	2.000%	05/18/2032	0.1%
Tesla Inc	2.000%	05/15/2024	0.1%
MidAmerican Energy Co	3.950%	08/01/2047	0.1%
Union Electric Co	2.625%	03/15/2051	0.1%
NIO Inc	0.500%	02/01/2027	0.1%
Core & Main LP	6.125%	08/15/2025	0.1%
Core & Main Holdings LP	8.625%	09/15/2024	0.1%
State of California Department of Water Resources	1.789%	12/01/2035	0.1%
Refficiency Holdings LLC	4.000%	12/11/2027	0.0%
FX EUR/USD 06/21	0.000%	06/04/2021	0.0%
FX EUR/USD 06/21	0.000%	06/04/2021	0.0%
FX EUR/USD 06/21	0.000%	06/04/2021	0.0%
FX USD/AUD 09/21	0.000%	09/01/2021	0.0%
FX EUR/USD 06/21	0.000%	06/04/2021	0.0%
FX EUR/USD 06/21	0.000%	06/04/2021	0.0%
FX EUR/USD 06/21	0.000%	06/04/2021	0.0%
FX EUR/USD 06/21	0.000%	06/04/2021	0.0%
US 2YR NOTE (CBT) SEP21	0.000%	10/05/2021	0.0%
US ULTRA BOND CBT SEP21	0.000%	09/30/2021	0.0%
EURO BUXL 30Y BND JUN21	0.000%	06/10/2021	0.0%
EURO-BOBL FUT JUN21	0.000%	06/10/2021	0.0%
EURO-BUND FUTURE JUN21	0.000%	06/10/2021	0.0%
US 10YR ULTRA FUT SEP21	0.000%	09/30/2021	0.0%
US 5YR NOTE (CBT) SEP21	0.000%	10/05/2021	0.0%
FX USD/EUR 06/21	0.000%	06/04/2021	0.0%
FX USD/EUR 06/21	0.000%	06/04/2021	0.0%
FX USD/EUR 06/21	0.000%	06/04/2021	0.0%
FX USD/EUR 06/21	0.000%	06/04/2021	0.0%
FX USD/EUR 06/21	0.000%	06/04/2021	0.0%
FX USD/EUR 06/21	0.000%	06/04/2021	0.0%
FX USD/EUR 06/21	0.000%	06/04/2021	0.0%
FX USD/GBP 06/21	0.000%	06/08/2021	0.0%
FX USD/EUR 06/21	0.000%	06/04/2021	0.0%
FX USD/SEK 07/21	0.000%	07/21/2021	0.0%
FX USD/CAD 07/21	0.000%	07/20/2021	0.0%
FX USD/GBP 06/21	0.000%	06/08/2021	-0.1%
FX USD/GBP 06/21	0.000%	06/08/2021	-0.1%
FX USD/EUR 06/21	0.000%	06/04/2021	-0.2%
FX USD/EUR 06/21	0.000%	06/04/2021	-0.2%

Fees & Expenses

Expense Ratioas of 06/30/2021

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

Expense ratio details, Click here.

The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 11/30/2021. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.

Fund Documents

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n/a	Portfolio Holdings 1Q Publish Date:11/03/2015
n/a	Portfolio Holdings 3Q Publish Date:11/03/2015
	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

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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.

IMPORTANT INFORMATION

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.

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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

Returns shown at less than a year reflect aggregate total returns.

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.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

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.

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.

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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 07/28/2021

30-Day Standardized Yield 2 as of 06/30/2021

Fund Basicsas of 06/30/2021

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

INVESTMENT TEAM

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Performance

Performance

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

Fund Expense Ratio :

Gross 2.77%

Net 0.38%

NAV Historical Prices

Portfolio

Portfolio

Credit Quality Distribution as of 06/30/2021

Portfolio Positioning as of 6/30/2021

PORTFOLIO DETAILS as of 06/30/2021

Fees & Expenses

Fees & Expenses

Expense Ratioas of 06/30/2021

Fund Documents

Fund Documents

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Securing a sustainable future for
our clients, our people, and our world.

Inspired by our mission, we are committed to creating long-term financial security for our clients, empowering our people, advancing our communities, and ensuring a vibrant future for our planet.

Dividend Yield ¹ as of 07/28/2021

30-Day Standardized Yield ² as of 06/30/2021