CFBAX | Climate Focused Bond Fund Class A | Lord Abbett

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Climate Focused Bond Fund

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Daily price w/o sales charge as of 01/26/2023

$8.32

$0.00

YTD Returns w/o sales charge as of 01/26/2023

2.53%

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 01/26/2023  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.66% 1.68%
w/ sales charge 2.60% 1.64%

30-Day Standardized Yield 2 as of 12/31/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.96% 2.92%

Average Yield to Worst as of 12/30/2022

5.07%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.

Expense Ratioas of 12/31/2022

Expense ratio details, Click here.

Fund Basicsas of 12/30/2022

Total Net Assets
$18.52 M
Inception Date
05/29/2020
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
230
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 1.63%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge -12.05% -12.05% - - - -3.05%
Lipper Category Avg. General Bond Funds -12.39% -12.39% - - - -
ICE BofA Green Bond Index Hedged USD -16.68% -16.68% - - - -5.78%
w/ sales charge -14.02% -14.02% - - - -3.89%

Fund Expense Ratio :

Gross 1.63%

Net 0.65%

Fund Expense Ratio :

Gross 1.63%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge -12.05% -12.05% - - - -3.05%
Lipper Category Avg. General Bond Funds -12.39% -12.39% - - - -
ICE BofA Green Bond Index Hedged USD -16.68% -16.68% - - - -5.78%
w/ sales charge -14.02% -14.02% - - - -3.89%

Fund Expense Ratio :

Gross 1.63%

Net 0.65%

Returns with sales charges reflect a maximum sales charge of 2.25%.

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

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

Contact a Representative

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

Performance

Performance

Fund Expense Ratio :

Gross 1.63%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge -12.05% -12.05% - - - -3.05%
Lipper Category Avg. General Bond Funds -12.39% -12.39% - - - -
ICE BofA Green Bond Index Hedged USD -16.68% -16.68% - - - -5.78%
w/ sales charge -14.02% -14.02% - - - -3.89%

Fund Expense Ratio :

Gross 1.63%

Net 0.65%

Fund Expense Ratio :

Gross 1.63%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/28/2020
w/o sales charge -12.05% -12.05% - - - -3.05%
Lipper Category Avg. General Bond Funds -12.39% -12.39% - - - -
ICE BofA Green Bond Index Hedged USD -16.68% -16.68% - - - -5.78%
w/ sales charge -14.02% -14.02% - - - -3.89%

Fund Expense Ratio :

Gross 1.63%

Net 0.65%

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
2022 -12.05% -16.68%
2021 -0.85% -2.19%
2020 5.82% 6.68%
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 - - - - 2.53%
2022 -4.79% -5.89% -3.00% 1.20% -12.05%
2021 -1.65% 1.09% 0.10% -0.37% -0.85%
2020 - - 2.28% 2.04% 5.82%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

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 12/30/2022

Rating Assets
U.S. Treasury
Agency
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 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 12/30/2022

Total Net Assets
$18.52 M
Number of Issues
230
Average Coupon
2.44%
Average Life
6.88 Years
Average Effective Duration
5.03 Years
Average Yield to Worst
5.07%

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.

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.

Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.

Holding Coupon Maturity Assets
Bundesrepublik Deutschland Bundesanleihe 0.000% 08/15/2030 1.9%
Bundesrepublik Deutschland Bundesanleihe 0.000% 08/15/2031 1.5%
European Union 1.250% 02/04/2043 1.4%
International Finance Corp 3.617% 04/03/2024 1.3%
Transport for London 2.125% 04/24/2025 1.2%
CDP Financial Inc 1.000% 05/26/2026 1.2%
International Bank for Reconstruction & Development 4.207% 11/22/2028 1.2%
Electricite de France SA 7.500% 12/06/2171 1.2%
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV 3.000% 10/25/2027 1.2%
EDP Finance BV 6.300% 10/11/2027 1.1%
% of Total Assets 13.2%
Holding Coupon Maturity Assets
Bundesrepublik Deutschland Bundesanleihe0.000% 08/15/20301.6%
United States Treasury Note/Bond2.750% 08/15/20321.2%
European Union1.250% 02/04/20431.2%
International Finance Corp2.150% 04/03/20241.2%
CDP Financial Inc1.000% 05/26/20261.1%
International Bank for Reconstruction & Development2.640% 11/22/20281.1%
European Bank for Reconstruction & Development1.625% 09/27/20241.1%
Transport for London2.125% 04/24/20251.0%
Industrial & Commercial Bank of China Ltd/Luxembourg2.875% 10/12/20221.0%
Korea Water Resources Corp3.875% 05/15/20231.0%
Inter-American Development Bank2.392% 04/12/20271.0%
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV2.750% 02/20/20241.0%
Development Bank of Japan Inc4.375% 09/22/20251.0%
Kommuninvest I Sverige AB1.625% 04/24/20231.0%
Korea East-West Power Co Ltd3.600% 05/06/20251.0%
NTT Finance Corp4.372% 07/27/20271.0%
Central Japan Railway Co2.200% 10/02/20241.0%
Greenko Investment Co4.875% 08/16/20231.0%
Kommunalbanken AS2.125% 02/11/20251.0%
Aegea Finance Sarl6.750% 05/20/20290.9%
Japan Finance Organization for Municipalities1.500% 01/27/20250.9%
European Investment Bank2.125% 04/13/20260.9%
Kommuninvest I Sverige AB0.375% 06/19/20240.9%
Adani Green Energy UP Ltd / Prayatna Developers Pvt Ltd / Parampujya Solar Energ6.250% 12/10/20240.9%
Industrial Bank of Korea0.625% 09/17/20240.9%
Japan Bank for International Cooperation1.625% 01/20/20270.9%
Statnett SF0.518% 06/30/20230.9%
Hyundai Capital Services Inc1.250% 02/08/20260.9%
BNP Paribas SA1.675% 06/30/20270.9%
Bundesrepublik Deutschland Bundesanleihe0.000% 08/15/20310.8%
ABN AMRO Bank NV2.470% 12/13/20290.8%
Nederlandse Waterschapsbank NV1.000% 05/28/20300.8%
Sweihan PV Power Co PJSC3.625% 01/31/20490.8%
Kreditanstalt fuer Wiederaufbau1.750% 09/14/20290.8%
Action Logement Services0.500% 10/30/20340.7%
Bank of America Corp2.456% 10/22/20250.7%
Enel Finance International NV2.250% 07/12/20310.7%
Sociedad Quimica y Minera de Chile SA3.500% 09/10/20510.7%
Asian Infrastructure Investment Bank/The0.500% 05/28/20250.7%
Bundesrepublik Deutschland Bundesanleihe0.000% 08/15/20500.7%
Asian Development Bank3.125% 09/26/20280.6%
Tesla Auto Lease Trust 2019-A2.680% 01/20/20230.6%
Citigroup Inc1.678% 05/15/20240.6%
GoodLeap Sustainable Home Solutions Trust 2022-12.700% 01/20/20490.6%
Kreditanstalt fuer Wiederaufbau0.750% 09/30/20300.6%
Bank of Nova Scotia/The0.650% 07/31/20240.6%
Kreditanstalt fuer Wiederaufbau2.000% 10/04/20220.6%
City of San Francisco CA Public Utilities Commission Water Revenue6.000% 11/01/20400.6%
JP Morgan Chase Commercial Mortgage Securities Trust 2021-14404.568% 03/15/20360.5%
Province of Quebec Canada1.850% 02/13/20270.5%
FX USD/EUR 12/220.000% 12/12/20220.5%
JPMorgan Chase & Co0.768% 08/09/20250.5%
Landesbank Baden-Wuerttemberg1.500% 02/03/20250.5%
International Bank for Reconstruction & Development2.614% 06/15/20260.5%
Schneider Electric SE1.841% 10/13/20250.5%
Canary Wharf Group Investment Holdings PLC2.625% 04/23/20250.5%
International Finance Corp2.000% 10/24/20220.5%
Walmart Inc1.800% 09/22/20310.5%
Tesla Auto Lease Trust 2021-A1.020% 03/20/20250.5%
Canal de Isabel II Gestion SA1.680% 02/26/20250.5%
Getlink SE3.500% 10/30/20250.5%
Scatec ASA2.851% 08/19/20250.4%
FCC Servicios Medio Ambiente Holding SAU1.661% 12/04/20260.4%
PartnerRe Ireland Finance DAC1.250% 09/15/20260.4%
OI European Group BV2.875% 02/15/20250.4%
Drax Finco PLC2.625% 11/01/20250.4%
Orsted AS1.500% 11/26/20290.4%
Royal Bank of Canada1.150% 07/14/20260.4%
Alstom SA0.250% 10/14/20260.4%
LeasePlan Corp NV0.250% 02/23/20260.4%
Cullinan Holdco Scsp4.625% 10/15/20260.4%
Engie SA0.375% 06/21/20270.4%
EEW Energy from Waste GmbH0.361% 06/30/20260.4%
Leeward Renewable Energy Operations LLC4.250% 07/01/20290.4%
Bank of Ireland Group PLC0.375% 05/10/20270.4%
Bazalgette Finance Plc2.750% 03/10/20340.4%
One Bryant Park Trust 2019-OBP2.516% 09/15/20540.4%
Solar Star Funding LLC5.375% 06/30/20350.4%
Suez SACA2.875% 05/24/20340.4%
Swisscom Finance BV0.375% 11/14/20280.4%
CaixaBank SA1.250% 06/18/20310.4%
Adif Alta Velocidad0.550% 04/30/20300.4%
Apple Inc3.000% 06/20/20270.4%
Vmed O2 UK Financing I PLC4.500% 07/15/20310.4%
Wabtec Transportation Netherlands BV1.250% 12/03/20270.4%
Bank of Nova Scotia/The2.375% 01/18/20230.4%
Seche Environnement SA2.250% 11/15/20280.4%
Novelis Sheet Ingot GmbH3.375% 04/15/20290.4%
Ferrovie dello Stato Italiane SpA0.375% 03/25/20280.4%
Techem Verwaltungsgesellschaft 674 mbH6.000% 07/30/20260.4%
AB Ignitis Grupe2.000% 05/21/20300.4%
Vestas Wind Systems Finance BV2.000% 06/15/20340.4%
Danske Bank A/S0.750% 06/09/20290.4%
Derichebourg SA2.250% 07/15/20280.4%
Rexel SA2.125% 06/15/20280.4%
Ren Finance BV0.500% 04/16/20290.4%
Sweden Government International Bond0.125% 09/09/20300.4%
Sweden Government International Bond0.125% 09/09/20300.4%
Air Liquide Finance SA0.375% 05/27/20310.4%
Paprec Holding SA3.500% 07/01/20280.4%
Hamburger Hochbahn AG0.125% 02/24/20310.4%
Sunrun Demeter Issuer 2021-2 LLC2.270% 01/30/20570.4%
CBRE Global Investors Open-Ended Fund SCA SICAV-SIF Pan European Core Fund0.900% 10/12/20290.4%
Sunnova Energy Corp5.875% 09/01/20260.4%
Kerry Group Financial Services Unltd Co0.875% 12/01/20310.4%
Inter-American Investment Corp2.625% 04/22/20250.4%
Blackstone Property Partners Europe Holdings Sarl1.625% 04/20/20300.4%
Eli Lilly & Co0.500% 09/14/20330.4%
NextEra Energy Capital Holdings Inc1.900% 06/15/20280.4%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.4%
European Investment Bank2.375% 05/24/20270.3%
Equinix Inc1.000% 03/15/20330.3%
Electricite de France SA1.000% 11/29/20330.3%
Advanced Drainage Systems Inc5.000% 09/30/20270.3%
TerraForm Power Operating LLC4.750% 01/15/20300.3%
Massachusetts Institute of Technology3.959% 07/01/20380.3%
Digital Dutch Finco BV1.000% 01/15/20320.3%
TenneT Holding BV0.125% 11/30/20320.3%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.3%
EDP - Energias de Portugal SA1.875% 03/14/20820.3%
Audax Renovables SA4.200% 12/18/20270.3%
Asian Development Bank2.450% 01/17/20240.3%
Societe Du Grand Paris EPIC0.300% 09/02/20360.3%
Darling Ingredients Inc5.250% 04/15/20270.3%
American Water Capital Corp2.800% 05/01/20300.3%
Amphenol Corp2.800% 02/15/20300.3%
Visa Inc0.750% 08/15/20270.3%
Kaiser Foundation Hospitals3.150% 05/01/20270.3%
BorgWarner Inc3.375% 03/15/20250.3%
Analog Devices Inc2.950% 04/01/20250.3%
Topaz Solar Farms LLC5.750% 09/30/20390.3%
Autonomous Community of Madrid Spain0.419% 04/30/20300.3%
Dallas Area Rapid Transit2.534% 12/01/20360.3%
Mueller Water Products Inc4.000% 06/15/20290.3%
French Republic Government Bond OAT0.500% 06/25/20440.3%
Liberty Utilities Finance GP 12.050% 09/15/20300.3%
Continental Wind LLC6.000% 02/28/20330.3%
Clearway Energy Operating LLC3.750% 02/15/20310.3%
Pattern Energy Operations LP / Pattern Energy Operations Inc4.500% 08/15/20280.3%
Johnson Controls International plc / Tyco Fire & Security Finance SCA1.750% 09/15/20300.3%
Province of Ontario Canada1.550% 11/01/20290.3%
City of Dallas TX Waterworks & Sewer System Revenue2.772% 10/01/20400.3%
New York City Municipal Water Finance Authority5.750% 06/15/20410.3%
US 10yr Ultra Fut Dec220.000% 12/30/20220.3%
City of Los Angeles CA Wastewater System Revenue5.713% 06/01/20390.3%
United Utilities PLC6.875% 08/15/20280.3%
MidAmerican Energy Co3.950% 08/01/20470.3%
NXP BV / NXP Funding LLC / NXP USA Inc3.400% 05/01/20300.3%
Array Technologies Inc6.208% 10/14/20270.3%
nVent Finance Sarl2.750% 11/15/20310.3%
Dispatch Terra Acquisition LLC7.924% 03/25/20280.3%
Hubbell Inc3.500% 02/15/20280.3%
Verizon Communications Inc3.875% 02/08/20290.3%
NextEra Energy Operating Partners LP4.500% 09/15/20270.3%
Dana Inc4.250% 09/01/20300.3%
International Finance Corp3.080% 06/30/20230.2%
Owens Corning3.950% 08/15/20290.2%
Amgen Inc3.000% 02/22/20290.2%
Bundesrepublik Deutschland Bundesanleihe0.000% 08/15/20520.2%
Essential Utilities Inc2.400% 05/01/20310.2%
NYO Commercial Mortgage Trust 2021-12903.913% 11/15/20380.2%
Nordic Investment Bank0.125% 06/10/20240.2%
US 5YR NOTE (CBT) Dec220.000% 01/05/20230.2%
Tucson Electric Power Co1.500% 08/01/20300.2%
San Diego County Water Authority1.951% 05/01/20340.2%
Weyerhaeuser Co6.875% 12/15/20330.2%
Global Payments Inc3.200% 08/15/20290.2%
Spain Government Bond1.000% 07/30/20420.2%
Kilroy Realty LP4.750% 12/15/20280.2%
Madison IAQ LLC5.875% 06/30/20290.2%
Metropolitan Transportation Authority5.175% 11/15/20490.2%
Eco Material Technologies Inc7.875% 01/31/20270.2%
City of Corpus Christi TX Utility System Revenue1.966% 07/15/20300.2%
Equinix Inc1.550% 03/15/20280.2%
Xylem Inc/NY2.250% 01/30/20310.2%
Pfizer Inc2.625% 04/01/20300.2%
Southwestern Public Service Co3.750% 06/15/20490.2%
Eaton Corp4.150% 03/15/20330.2%
Fiserv Inc3.200% 07/01/20260.2%
Suzano Austria GmbH3.125% 01/15/20320.2%
AI Aqua Merger Sub Inc6.346% 07/31/20280.2%
Darling Ingredients Inc6.000% 06/15/20300.2%
City of Philadelphia PA Water & Wastewater Revenue1.734% 11/01/20280.2%
SolarEdge Technologies Inc0.000% 09/15/20250.2%
Enphase Energy Inc0.000% 03/01/20260.2%
Aptiv PLC4.350% 03/15/20290.2%
Northern States Power Co/MN2.600% 06/01/20510.2%
Piedmont Operating Partnership LP3.150% 08/15/20300.2%
Global Payments Inc3.750% 06/01/20230.2%
ELEMENT MAT TEC GR US HLD INC0.000% 06/07/20290.1%
FX USD/SEK 10/220.000% 10/21/20220.1%
Constellation Renewables LLC5.570% 12/15/20270.1%
TerraForm Power Operating LLC6.403% 05/21/20290.1%
BINGO INDUSTRIES LTD7.174% 07/14/20280.1%
FX USD/GBP 12/220.000% 12/08/20220.1%
Italy Buoni Poliennali Del Tesoro1.500% 04/30/20450.1%
Goodman US Finance Five LLC4.625% 05/04/20320.1%
Ford Motor Co3.250% 02/12/20320.1%
Micron Technology Inc2.703% 04/15/20320.1%
EWT HOLDINGS III CORP.5.613% 04/01/20280.1%
City of Aurora CO Water Revenue2.348% 08/01/20360.1%
Sunrun Inc0.000% 02/01/20260.1%
Esdec Solar Group BV8.391% 08/30/20280.1%
Regional Transportation District Sales Tax Revenue2.337% 11/01/20360.1%
SunPower Corp4.000% 01/15/20230.1%
Zurn LLC5.365% 10/04/20280.1%
Alexandria Real Estate Equities Inc2.000% 05/18/20320.1%
Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue2.611% 07/01/20360.1%
Refficiency Holdings LLC6.865% 12/16/20270.1%
Wisconsin Electric Power Co4.750% 09/30/20320.1%
Advanced Drainage Systems Inc6.375% 06/15/20300.1%
HAT Holdings I LLC / HAT Holdings II LLC0.000% 05/01/20250.1%
NextEra Energy Partners LP0.000% 06/15/20240.1%
Thermostat Purchaser III Inc7.570% 08/31/20280.1%
Tesla Inc2.000% 05/15/20240.1%
Plug Power Inc3.750% 06/01/20250.1%
FX USD/CAD 10/220.000% 10/20/20220.1%
US LONG BOND(CBT) Dec220.000% 12/30/20220.1%
FX GBP/USD 12/220.000% 12/08/20220.0%
Lucid Group Inc1.250% 12/15/20260.0%
NIO Inc0.500% 02/01/20270.0%
FX USD/AUD 11/220.000% 11/25/20220.0%
FX EUR/USD 12/220.000% 12/12/20220.0%
FX USD/EUR 12/220.000% 12/12/20220.0%
FX EUR/USD 12/220.000% 12/12/20220.0%
FX GBP/USD 12/220.000% 12/08/20220.0%
FX EUR/USD 12/220.000% 12/12/20220.0%
FX GBP/USD 12/220.000% 12/08/20220.0%
FX GBP/USD 12/220.000% 12/08/20220.0%
Refficiency Holdings LLC0.038% 12/16/20270.0%
EURO-BOBL FUTURE Dec220.000% 12/12/20220.0%
EURO-BUND FUTURE Dec220.000% 12/12/20220.0%
EURO-BUXL 30Y BND Dec220.000% 12/12/20220.0%
FX GBP/USD 12/220.000% 12/08/20220.0%
FX EUR/USD 12/220.000% 12/12/20220.0%
ELEMNT MAT TECH GRP US HOL INC0.000% 06/22/20290.0%
FX EUR/USD 12/220.000% 12/12/20220.0%
US ULTRA BOND CBT Dec220.000% 12/30/2022-0.2%

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

Sales Charge Schedule as of 01/26/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $8.51
$100,000 to $249,999 1.75% 1.50% $8.47
$250,000 to $499,999 1.25% 1.00% $8.43
$500,000 to $999,999 0.00% 1.00% $8.32
$1,000,000 to $5,000,000 0.00% 1.00% $8.32

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers View Full Disclosure

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

  • Rights of Accumulation - A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.

  • Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

  • purchases of $1 million or more (may be subject to a CDSC);
  • purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
  • purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
  • purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
  • certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

 

Expense Ratioas of 12/31/2022

Expense ratio details, Click here.

Fund Documents

Fund Documents

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

 

IMPORTANT INFORMATION

 

*"Barron's Best Fund Families of 2021", #4 ranking in the Taxable Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families. Ranking for the ten-year period ending 12/31/2021 is #2 out of 45 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2021,” February 18, 2022. 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, 2021, 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 2022. 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.

 

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.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

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.

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

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