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Convertible Fund

Daily price w/o sales charge as of 11/20/2018

$12.80

arrowDown$0.11

YTD Returns w/o sales charge as of 11/20/2018

-1.68%

Please click here for performance current to the most recent quarter-end and month-end.

Click here to view all legal text including risk information

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.

Yield

12-Month Dividend Yield 1 as of 11/20/2018  

w/o sales charge 2.25%

30-Day Standardized Yield 2 as of 10/31/2018  

1.53%

Fund Basicsas of 10/31/2018

Total Net Assets
$885.12 M
Inception Date
09/28/2007
Dividend Frequency
Quarterly
Fund Expense Ratio
0.94%
Number of Holdings
109
CUSIP
543916498

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 0.55% 0.87% 8.54% 6.03% 10.05% 5.37%
Lipper Category Avg. Convertible Securities Funds 2.07% 2.42% 6.94% 5.73% 10.32% -
ICE BofAML All Convertible Index 3.75% 3.67% 8.20% 7.50% 12.52% 6.64%

Fund Expense Ratio :

0.94%

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 9.15% 11.86% 12.70% 8.27% 9.17% 6.20%
Lipper Category Avg. Convertible Securities Funds 8.50% 10.69% 10.54% 7.46% 8.91% -
ICE BofAML All Convertible Index 10.43% 12.15% 11.83% 9.31% 11.00% 7.30%

Fund Expense Ratio :

0.94%

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

RELATED CONTENT

Convertible Bonds Can Play a Valuable Role in a Portfolio
Convertible Bonds Can Play a Valuable Role in a Portfolio
May 30, 2017

Investors looking for income plus equity-like returns, but with lower volatility, may be surprised at the unique return profile and diversification benefits of convertibles.

Type Assets
Convertible Bonds
Convertible Preferred Stock
Common Stock
Other
Cash

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

Maturity Assets
S.T & N.O.A
1 - 5 YEARS
6 - 10 YEARS
11 - 20 YEARS
21 - 30 YEARS
31 + YEARS
PFD(EQUITY)

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 10/31/2018 View Portfolio

Rating Assets
A
BBB
BB
B
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. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. 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 may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Investment Team

Alan Kurtz
Alan Kurtz

Portfolio Manager

18 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

17 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

27 Years of Industry Experience

Supported By 64 Investment Professionals with 15 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

12-Month Dividend Yield 1 as of 11/20/2018  

w/o sales charge 2.25%

30-Day Standardized Yield 2 as of 10/31/2018  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.53% 1.53%

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 0.55% 0.87% 8.54% 6.03% 10.05% 5.37%
Lipper Category Avg. Convertible Securities Funds 2.07% 2.42% 6.94% 5.73% 10.32% -
ICE BofAML All Convertible Index 3.75% 3.67% 8.20% 7.50% 12.52% 6.64%

Fund Expense Ratio :

0.94%

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 9.15% 11.86% 12.70% 8.27% 9.17% 6.20%
Lipper Category Avg. Convertible Securities Funds 8.50% 10.69% 10.54% 7.46% 8.91% -
ICE BofAML All Convertible Index 10.43% 12.15% 11.83% 9.31% 11.00% 7.30%

Fund Expense Ratio :

0.94%

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

Year Fund Returns ICE BofAML All Convertible Index
2017 16.67% 13.70%
2016 12.57% 10.43%
2015 -8.00% -2.99%
2014 6.09% 9.44%
2013 26.03% 24.92%
2012 12.30% 14.96%
2011 -8.89% -5.18%
2010 14.95% 16.77%
2009 35.81% 49.12%
2008 -31.43% -35.73%
2007 8.41% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2018 1.28% 2.56% 5.08% - -1.68%
2017 6.48% 2.70% 4.10% 2.49% 16.67%
2016 -1.52% 3.41% 7.88% 2.47% 12.57%
2015 2.47% -0.54% -9.60% -0.14% -8.00%
2014 2.14% 3.88% -1.26% 1.26% 6.09%
2013 6.61% 3.07% 7.85% 6.34% 26.03%
2012 9.42% -4.03% 4.70% 2.14% 12.30%
2011 4.69% -1.33% -14.59% 3.26% -8.89%
2010 3.32% -7.23% 11.15% 7.90% 14.95%
2009 1.97% 11.41% 12.90% 5.88% 35.81%
2008 -7.31% 3.56% -16.32% -14.63% -31.43%
2007 2.29% 4.05% 1.48% 0.38% 8.41%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Convertible Bonds
Convertible Preferred Stock
Common Stock
Other
Cash

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

Rating Assets
S.T & N.O.A
1 - 5 YEARS
6 - 10 YEARS
11 - 20 YEARS
21 - 30 YEARS
31 + YEARS
PFD(EQUITY)

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 10/31/2018

Rating Assets
A
BBB
BB
B
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. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. 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 may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 09/30/2018

  • Continued employment gains and recently-passed tax reform paint a healthy backdrop for the American consumer. As such, we continue to favor exposure to companies levered to consumer markets while remaining cautious as early signs of wage pressure emerge.
  • During the quarter, we reduced the portfolio’s exposure to software companies. We have taken some profits in software as we believe that much of the potential growth within the industry is priced in.
  • We are overweight the energy sector within the portfolio as commodity prices have stabilized. Specifically, we favor offshore drilling companies, as well as energy service companies that may benefit from higher levels of production activity.
  • The portfolio’s equity sensitivity is in-line with the broader convertible market. During the spikes in volatility that occurred throughout 2018, we found opportunities in securities that offered improved risk-reward profiles as they approached their bond floors.

Portfolio Details as of 10/31/2018

Total Net Assets
$885.12 M
Number of Issues
109
Average Coupon
2.32%
Average Maturity
4.68 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 Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Holding Coupon Maturity Assets
SolarCity Corp. 1.625% 11/01/2019 3.7%
Vipshop Holdings Ltd. 1.500% 03/15/2019 3.6%
FireEye, Inc. 1.625% 06/01/2035 3.6%
SunPower Corp. 4.000% 01/15/2023 3.3%
American Realty Capital Properties, Inc. 3.750% 12/15/2020 3.1%
KB Home 1.375% 02/01/2019 2.5%
Wells Fargo & Co. 7.500% - 2.5%
Tesla Motors, Inc. 1.250% 03/01/2021 1.9%
DISH Network Corp. 3.375% 08/15/2026 1.8%
Microchip Technology, Inc. 1.625% 02/15/2025 1.7%
% of Total Assets 27.7%

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.

Holding Coupon Maturity Assets
SunPower Corp.4.000% 01/15/20233.1%
Vipshop Holdings Ltd.1.500% 03/15/20193.1%
American Realty Capital Properties, Inc.3.750% 12/15/20202.9%
FireEye, Inc.1.625% 06/01/20352.8%
SolarCity Corp.1.625% 11/01/20192.5%
Wells Fargo & Co.7.500% -2.3%
Becton, Dickinson & Co.6.130% 05/01/20202.1%
Tesla Motors, Inc.0.250% 03/01/20192.0%
Microchip Technology, Inc.1.625% 02/15/20251.9%
Square, Inc.0.500% 05/15/20231.8%
Advanced Micro Devices, Inc.2.125% 09/01/20261.6%
SINA Corp.1.000% 12/01/20181.6%
Illumina, Inc.0.500% 06/15/20211.5%
Fortive Corp.5.000% 07/01/20211.4%
Crown Castle International Corp.6.880% 08/01/20201.4%
Molina Healthcare, Inc.1.125% 01/15/20201.3%
DISH Network Corp.3.375% 08/15/20261.3%
Chart Industries, Inc.1.000% 11/15/20241.2%
Intel Corp.3.250% 08/01/20391.2%
Ensco Jersey Finance Ltd.3.000% 01/31/20241.2%
Micron Technology, Inc.2.125% 02/15/20331.2%
Sarepta Therapeutics, Inc.1.500% 11/15/20241.1%
Echo Global Logistics, Inc.2.500% 05/01/20201.1%
Teladoc, Inc.3.000% 12/15/20221.1%
Scorpio Tankers, Inc.2.375% 07/01/20191.1%
Tornier N.V.2.250% 11/15/20211.1%
Hess Corp.8.000% 02/01/20191.1%
DexCom, Inc.0.750% 05/15/20221.1%
Insulet Corp.1.375% 11/15/20241.0%
Neurocrine Biosciences, Inc.2.250% 05/15/20241.0%
Intelsat SA4.500% 06/15/20251.0%
Cheniere Energy, Inc.4.250% 03/15/20451.0%
Twilio, Inc.0.250% 06/01/20231.0%
RingCentral, Inc.0.000% 03/15/20230.9%
Transocean, Inc.0.500% 01/30/20230.9%
Palo Alto Networks, Inc.0.750% 07/01/20230.9%
Okta Inc0.250% 02/15/20230.9%
NuVasive, Inc.2.250% 03/15/20210.8%
DocuSign Inc0.500% 09/15/20230.8%
Zendesk, Inc.0.250% 03/15/20230.8%
Exact Sciences Corp.1.000% 01/15/20250.8%
NextEra Energy, Inc.0.000% -0.8%
Ligand Pharmaceuticals, Inc.0.750% 08/15/20190.8%
Splunk, Inc.0.500% 09/15/20230.8%
Electronics for Imaging, Inc.0.750% 09/01/20190.8%
CenterPoint Energy, Inc.7.000% 09/01/20210.8%
Anthem, Inc.2.750% 10/15/20420.8%
Intercept Pharmaceuticals, Inc.3.250% 07/01/20230.8%
NextEra Energy Partners L.P.1.500% 09/15/20200.8%
BioMarin Pharmaceutical, Inc.0.599% 08/01/20240.8%
Live Nation Entertainment, Inc.2.500% 03/15/20230.7%
Q2 Holdings, Inc.0.750% 02/15/20230.7%
Five9, Inc.0.125% 05/01/20230.7%
Oasis Petroleum, Inc.2.625% 09/15/20230.7%
Team, Inc.5.000% 08/01/20230.7%
Cliffs Natural Resources, Inc.1.500% 01/15/20250.7%
Helix Energy Solutions Group, Inc.4.125% 09/15/20230.7%
Canopy Growth Corp4.250% 07/15/20230.6%
Herbalife Ltd.2.625% 03/15/20240.6%
Post Holdings, Inc.2.500% -0.6%
MongoDB Inc0.750% 06/15/20240.6%
Greenbrier Cos., Inc.2.875% 02/01/20240.6%
Aerojet Rocketdyne Holdings, Inc.2.250% 12/15/20230.6%
Scorpio Tankers, Inc.3.000% 05/15/20220.6%
Etsy, Inc.0.000% 03/01/20230.6%
FireEye, Inc.1.000% 06/01/20350.6%
CF Industries Holdings, Inc.0.000% -0.6%
Actavis plc0.000% -0.5%
Restoration Hardware Holdings, Inc.0.000% 07/15/20200.5%
DHT Holdings, Inc.4.500% 08/15/20210.5%
Ligand Pharmaceuticals, Inc.0.750% 05/15/20230.5%
Starwood Property Trust, Inc.4.375% 04/01/20230.5%
Atlassian Inc0.625% 05/01/20230.5%
Gold Exchangeable Ltd.6.875% 05/13/20220.5%
Take-Two Interactive Software, Inc.0.000% -0.5%
Macquarie Infrastructure Co. LLC2.875% 07/15/20190.5%
Exponent, Inc.0.000% -0.5%
Kornit Digital Ltd.0.000% -0.5%
Workday, Inc.1.500% 07/15/20200.5%
ServiceNow, Inc.0.000% 06/01/20220.5%
Quidel Corp3.250% 12/15/20200.5%
II-VI, Inc.0.250% 09/01/20220.5%
Balchem Corp.0.000% -0.4%
Teledyne Technologies, Inc.0.000% -0.4%
Kratos Defense & Security Solutions Inc0.000% -0.4%
MSCI, Inc.0.000% -0.4%
Anthem, Inc.0.000% -0.4%
Eventbrite Inc0.000% -0.4%
NextEra Energy, Inc.6.120% 09/01/20190.4%
Yahoo!, Inc.0.000% 12/01/20180.4%
Glaukos Corp.0.000% -0.4%
Bank of America Corp.0.000% -0.4%
Adidas AG0.000% -0.4%
Momo Inc1.250% 07/01/20250.4%
Tristate Capital Holdings, Inc.0.000% -0.4%
Dassault Systemes SE0.000% -0.4%
Bank of America Corp.7.250% -0.4%
GrubHub, Inc.0.000% -0.4%
WPX Energy, Inc.0.000% -0.4%
Restoration Hardware Holdings, Inc.0.000% 06/15/20230.4%
Ollie's Bargain Outlet Holdings Inc0.000% -0.4%
BRP Inc0.000% -0.4%
Wingstop, Inc.0.000% -0.4%
SiteOne Landscape Supply, Inc.0.000% -0.4%
Evercore Partners, Inc.0.000% -0.4%
Orion Engineered Carbons SA0.000% -0.4%
Trex Co., Inc.0.000% -0.4%
Applied Industrial Technologies, Inc.0.000% -0.4%
Cloudera Inc0.000% -0.4%
SVB Financial Group0.000% -0.3%
International Flavors & Fragrances, Inc.6.000% 09/15/20210.3%
Caesars Entertainment Corp5.000% 10/01/20240.3%
Columbia Sportswear Co.0.000% -0.3%
Spotify Technology SA0.000% -0.3%
HollyFrontier Corp.0.000% -0.3%
Navistar International Corp.4.500% 10/15/20180.3%
Treasury Wine Estates Ltd.0.000% -0.3%
Sage Therapeutics, Inc.0.000% -0.3%
SolarCity Corp.2.750% 11/01/20180.3%
Alaska Air Group, Inc.0.000% -0.3%
GW Pharmaceuticals plc0.000% -0.3%
FX GBP/USD 10/180.000% 10/19/20180.3%
Rexnord Holdings, Inc.5.750% 11/15/20190.3%
ElectroCore LLC0.000% -0.3%
Acuity Brands, Inc.0.000% -0.2%
Trinity Industries, Inc.0.000% -0.2%
Twitter, Inc.0.250% 06/15/20240.2%
Peabody Energy Corp.10.000% 03/15/20220.0%
FX USD/EUR 12/180.000% 12/04/2018-0.2%
FX USD/GBP 10/180.000% 10/19/2018-0.3%
FX USD/EUR 12/180.000% 12/07/2018-0.3%
FX USD/EUR 12/180.000% 12/04/2018-0.3%
FX USD/CAD 12/180.000% 12/06/2018-0.6%

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.

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 11/20/2018
$0.126
Dividend Frequency
Quarterly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
09/27/2018 09/28/2018 09/28/2018 $0.03900 $14.21
06/28/2018 06/29/2018 06/29/2018 $0.03960 $13.56
03/28/2018 03/29/2018 03/29/2018 $0.04790 $13.26

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
12/26/2018 12/27/2018 12/27/2018

Capital Gains Distributions

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Click Here To View Estimated Capital Gain Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.5336 $0.7849 $1.3185 $12.08
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

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
12/17/2018 12/18/2018

Fees & Expenses

Fees & Expenses

Expense Ratioas of 10/31/2018

0.94%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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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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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.      

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

5

The 30-day Standardized Subsidized yield reflects fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

6

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

 

IMPORTANT INFORMATION

 

A Note about Risk: Convertible securities are subject to the risks affecting both equity and fixed income securities, including market, credit, liquidity, and interest rate risk.  Convertible securities tend to be more volatile than other fixed income securities, and the markets for convertible securities may be less liquid than markets for common stocks or bonds.  The Fund may invest substantially in high yield, lower-rated 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. 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.

 

 

Class F - The inception date for Class F shares is September 28, 2007. The performance quotations for Class F are based on the following methods of calculation: (a) for periods prior to September 28, 2007, a restated figure is used based on the Fund's Class I performance, which does not have a 12b-1 fee, adjusted to reflect the Rule 12b-1 rate differential between Class I and Class F; and (b) for periods after September 28, 2007, actual Class F performance is used reflecting all charges and fees applicable to Class F shares.

Class F shares are available only to eligible fee-based advisory programs and certain registered investment advisers. For additional information, see the Fund’s current prospectus.

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.

 

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

 

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 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.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML 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 BofAML 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.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

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.

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

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