LACCX | Convertible Fund Class C | Lord Abbett

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Convertible Fund

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Summary

Summary

What is the Convertible Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in convertible securities.

Fund Basicsas of 05/31/2022

Total Net Assets
$1.01 B
Inception Date
06/30/2003
Dividend Frequency
Quarterly
Fund Expense Ratio
1.71%
Number of Holdings
68
Minimum Initial Investment
$1,500+

Yield

12-Month Dividend Yield 1 as of 06/24/2022  

w/o sales charge 1.21%

30-Day Standardized Yield 2 as of 05/31/2022  

1.79%

Fund Expense Ratio :

1.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge -18.86% -18.84% 14.15% 11.01% 10.32% 7.10%
Lipper Category Avg. Convertible Securities Funds -14.12% -12.25% 12.44% 10.45% 9.93% -
ICE BofA All Convertible Index -14.96% -12.83% 14.14% 11.58% 11.57% 8.67%
w/ sales charge -19.67% -18.84% 14.15% 11.01% 10.32% 7.10%

Fund Expense Ratio :

1.71%

Fund Expense Ratio :

1.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge -7.84% -8.78% 18.85% 14.29% 11.02% 7.90%
Lipper Category Avg. Convertible Securities Funds -5.43% -2.57% 16.21% 13.03% 10.32% -
ICE BofA All Convertible Index -5.41% -2.21% 18.00% 14.39% 12.16% 9.37%
w/ sales charge -8.76% -8.78% 18.85% 14.29% 11.02% 7.90%

Fund Expense Ratio :

1.71%

RELATED CONTENT

Using Convertible Bonds to Help Weather Volatility
September 27, 2021

Convertible bonds can potentially provide downside protection during stock-market downdrafts. Here’s how.

Rating Assets
Convertible Bonds
Convertible Preferred Stock
Common Stock
Other
Cash
Rating Assets
S.T & N.O.A
1 - 5 YEARS
6 - 10 YEARS
11 - 20 YEARS
21 - 30 YEARS
31 + YEARS
PFD(EQUITY)

Credit Quality Distribution as of 05/31/2022

Rating Assets
BBB
BB
B
Not Rated

INVESTMENT TEAM

Alan R. Kurtz
Alan R. Kurtz

Managing Director, Portfolio Manager

22 Years of Industry Experience

Jeremy I. Lehmann
Jeremy I. Lehmann, CFA

Portfolio Manager

10 Years of Industry Experience

Supported By 84 Investment Professionals with 17 Years Avg. Industry Experience

Your Representative

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Performance

Performance

12-Month Dividend Yield 1 as of 06/24/2022  

w/o sales charge 1.21%

30-Day Standardized Yield 2 as of 05/31/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.79% 1.79%

Fund Expense Ratio :

1.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge -18.86% -18.84% 14.15% 11.01% 10.32% 7.10%
Lipper Category Avg. Convertible Securities Funds -14.12% -12.25% 12.44% 10.45% 9.93% -
ICE BofA All Convertible Index -14.96% -12.83% 14.14% 11.58% 11.57% 8.67%
w/ sales charge -19.67% -18.84% 14.15% 11.01% 10.32% 7.10%

Fund Expense Ratio :

1.71%

Fund Expense Ratio :

1.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge -7.84% -8.78% 18.85% 14.29% 11.02% 7.90%
Lipper Category Avg. Convertible Securities Funds -5.43% -2.57% 16.21% 13.03% 10.32% -
ICE BofA All Convertible Index -5.41% -2.21% 18.00% 14.39% 12.16% 9.37%
w/ sales charge -8.76% -8.78% 18.85% 14.29% 11.02% 7.90%

Fund Expense Ratio :

1.71%

Year Fund Returns ICE BofA All Convertible Index
2021 0.29% 6.34%
2020 62.93% 46.22%
2019 23.95% 23.15%
2018 -4.20% 0.15%
2017 15.84% 13.70%
2016 11.81% 10.43%
2015 -8.76% -2.99%
2014 5.35% 9.44%
2013 25.07% 24.92%
2012 11.51% 14.96%
2011 -9.63% -
2010 13.98% -
2009 34.61% -
2008 -32.11% -
2007 8.41% -
2006 8.37% -
2005 3.04% -
2004 6.66% -
2003 10.28% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -7.84% - - - -21.31%
2021 1.33% -0.47% -0.05% -0.50% 0.29%
2020 -7.95% 26.85% 16.07% 20.23% 62.93%
2019 11.18% 4.48% -0.58% 7.32% 23.95%
2018 1.10% 2.35% 4.85% -11.70% -4.20%
2017 6.24% 2.52% 3.94% 2.32% 15.84%
2016 -1.62% 3.14% 7.72% 2.29% 11.81%
2015 2.29% -0.82% -9.76% -0.34% -8.76%
2014 1.98% 3.71% -1.47% 1.09% 5.35%
2013 6.36% 2.98% 7.62% 6.11% 25.07%
2012 9.16% -4.14% 4.53% 1.95% 11.51%
2011 4.42% -1.51% -14.74% 3.07% -9.63%
2010 3.10% -7.48% 10.85% 7.79% 13.98%
2009 1.74% 11.09% 12.83% 5.56% 34.61%
2008 -7.54% 3.32% -16.52% -14.88% -32.11%
2007 2.16% 3.83% 2.04% 0.17% 8.41%
2006 5.86% -2.27% 0.35% 4.38% 8.37%
2005 -2.32% 0.79% 4.96% -0.29% 3.04%
2004 2.45% -1.55% -1.66% 7.53% 6.66%
2003 - - 1.74% 8.39% 10.28%

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Convertible Bonds
Convertible Preferred Stock
Common Stock
Other
Cash
Rating Assets
S.T & N.O.A
1 - 5 YEARS
6 - 10 YEARS
11 - 20 YEARS
21 - 30 YEARS
31 + YEARS
PFD(EQUITY)

Credit Quality Distribution as of 05/31/2022

Rating Assets
BBB
BB
B
Not Rated

Portfolio Positioning
as of 3/31/2022

  • There have been several macroeconomic factors that have kept a lid on equity returns thus far in 2022, with escalating geopolitical tensions top of mind in recent months.  Additionally, inflation, in both quantitative data and qualitative comments from corporate management teams, are tempering investors’ near-term expectations for earnings growth. Alongside that, equity and fixed income investors alike have had to price in significantly more monetary tightening than anyone expected just a few months ago. However, while recent flattening in the yield curve has drawn many to start thinking about the next recession, we are encouraged by healthy economic data coming from many corners, as well as high yield spreads not flashing any warning signals at this time.
  • We continue to find Convertibles attractive, particularly those with lower equity sensitivity than the broader market.  As of the end of the quarter, more than a quarter of the U.S. convertible market is more bond-like than equity-like – a significantly higher percentage than we’ve seen in some time.  Many of the underlying stocks of these issuers have corrected significantly over the last year but have strong credit characteristics and enough time left before maturity where the embedded options can still deliver upside well above the stated yield-to-maturity, in our view.

PORTFOLIO DETAILS as of 05/31/2022

Total Net Assets
$1.01 B
Number of Issues
68
Average Coupon
1.17%
Average Maturity
3.83 Years
Average Effective Duration
0.01 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 06/24/2022
$0.008
Dividend Frequency
Quarterly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
03/29/2022 03/30/2022 03/30/2022 $0.00850 $14.76

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
06/28/2022 06/29/2022 06/29/2022
09/28/2022 09/29/2022 09/29/2022
12/27/2022 12/28/2022 12/28/2022

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 $1.6293 $1.0924 $2.7217 $15.70

Upcoming Capital Gain Distribution

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date
12/19/2022 12/20/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 05/31/2022

1.71%

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
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Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
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Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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The ICE BofA Merrill Lynch All Convertibles Index contains issues that have a greater than $50 million aggregate market value. The issues are U.S. dollar-denominated, sold into the U.S. market and publicly traded in the United States.

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