CFBAX | Climate Focused Bond Fund Class A | Lord Abbett

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Climate Focused Bond Fund

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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 11/30/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.73% 1.75%

30-Day Standardized Yield 2 as of 10/31/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.38% 3.21%

Fund Basicsas of 10/31/2022

Total Net Assets
$18.97 M
Inception Date
05/29/2020
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.42%
Fund Net Expense Ratio
0.44%
Number of Holdings
247

Fund Expense Ratio :

Gross 1.42%

Net 0.44%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge -10.70% -10.88% - - - -2.39%
Lipper Category Avg. General Bond Funds - - - - - -
ICE BofA Green Bond Index Hedged USD - - - - - -

Fund Expense Ratio :

Gross 1.42%

Net 0.44%

Fund Expense Ratio :

Gross 1.42%

Net 0.44%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge -12.92% -13.09% - - - -3.60%
Lipper Category Avg. General Bond Funds -14.71% -14.91% - - - -
ICE BofA Green Bond Index Hedged USD -17.52% -17.75% - - - -6.79%

Fund Expense Ratio :

Gross 1.42%

Net 0.44%

INVESTMENT TEAM

Annika M. Lombardi
Annika M. Lombardi

Managing Director, Portfolio Manager

15 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

21 Years of Industry Experience

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

Partner & Portfolio Manager

24 Years of Industry Experience

Supported By 71 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Fund Expense Ratio :

Gross 1.42%

Net 0.44%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge -10.70% -10.88% - - - -2.39%
Lipper Category Avg. General Bond Funds - - - - - -
ICE BofA Green Bond Index Hedged USD - - - - - -

Fund Expense Ratio :

Gross 1.42%

Net 0.44%

Fund Expense Ratio :

Gross 1.42%

Net 0.44%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge -12.92% -13.09% - - - -3.60%
Lipper Category Avg. General Bond Funds -14.71% -14.91% - - - -
ICE BofA Green Bond Index Hedged USD -17.52% -17.75% - - - -6.79%

Fund Expense Ratio :

Gross 1.42%

Net 0.44%

Year Fund Returns ICE BofA Green Bond Index Hedged USD
2021 -0.47% -2.19%
2020 5.90% 6.68%
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -4.83% -5.73% -2.94% - -10.70%
2021 -1.49% 1.16% 0.07% -0.19% -0.47%
2020 - - 2.35% 2.02% 5.90%

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
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 10/31/2022

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

Portfolio Positioning as of 09/30/2022

  • We continued to focus on higher quality securities given ongoing global recessionary concerns. We reduced more credit sensitive positions in BBB and lower rated credit in favor of sovereign and supranational debt, most of which are rated AAA and A. We also modestly reduced the Fund’s allocation to corporate debt, both in high yield and investment grade bonds. We simultaneously increased our cash position in a further move to reduce overall portfolio risk.
  • We also continued to favor U.S. assets relative to European and Emerging Market (EM) securities as rising U.S. rates and a stronger U.S. dollar created a more attractive U.S. relative yield. Additionally, the ongoing war in Ukraine has led to material economic deceleration which affected European credit as headwinds from gas shortages increased concerns about energy security heading into the winter seasons.
  • Although we added less credit sensitive securities over the quarter, the Fund remained modestly overweight credit risk relative to the ICE BofA Green Bond Index. More specifically, the Fund maintained its overweight to bonds in lower credit quality tiers.
  • The Fund also continued to be underweight duration compared to both the Green Bond index and Global Aggregate Index, given our views on persistently high inflation and tighter monetary policy stances from global central banks.

PORTFOLIO DETAILS as of 10/31/2022

Total Net Assets
$18.97 M
Number of Issues
247
Average Coupon
2.4%
Average Life
6.77 Years
Average Effective Duration
5.03 Years
Average Yield to Worst
5.29%

Fees & Expenses

Fees & Expenses

Expense Ratioas of 10/31/2022

Fund Gross Expense Ratio Fund Net Expense Ratio
1.42% 0.44%

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
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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
Commentary
Publish Date:11/03/2015

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