LCFPX | Convertible Fund Class P | Lord Abbett
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Convertible Fund

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 09/30/2021

Total Net Assets
$1.62 B
Inception Date
06/30/2003
Dividend Frequency
Quarterly
Fund Expense Ratio
1.31%
Number of Holdings
88

Yield

12-Month Dividend Yield 1 as of 10/15/2021  

w/o sales charge 0.61%

30-Day Standardized Yield 2 as of 09/30/2021  

0.00%

Fund Expense Ratio :

1.31%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge 1.12% 21.71% 22.08% 18.70% 13.80% 9.17%
Lipper Category Avg. Convertible Securities Funds 3.87% 21.95% 18.33% 15.65% 12.38% -
ICE BofA All Convertible Index 6.38% 27.30% 20.21% 17.37% 14.37% 9.98%

Fund Expense Ratio :

1.31%

Fund Expense Ratio :

1.31%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge 1.12% 21.71% 22.08% 18.70% 13.80% 9.17%
Lipper Category Avg. Convertible Securities Funds 3.87% 21.95% 18.33% 15.65% 12.38% -
ICE BofA All Convertible Index 6.38% 27.30% 20.21% 17.37% 14.37% 9.98%

Fund Expense Ratio :

1.31%

RELATED CONTENT

Why Convertibles May Make Sense in Today’s Market
April 27, 2020

An allocation to convertible securities may potentially help mitigate downside risk during volatile times, while allowing investors the opportunity to participate in an equity market recovery.

During Equity Sell-Offs, Historically, Convertibles Have Offered Resilience
March 16, 2020

Historically, convertible bonds have offered the opportunity to maintain exposure to the long-term potential of equities while better withstanding sharp sell-offs and offering the potential for higher yields.

Convertibles: A Lower Volatility Approach to Equity Investing
December 5, 2019

Convertible securities historically have delivered an attractive return profile and lower volatility compared with traditional equities.

Rating Assets
Convertible Bonds
Convertible Preferred Stock
Corporate Bonds
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 09/30/2021

Rating Assets
BBB
BB
B
Not Rated

INVESTMENT TEAM

Alan R. Kurtz
Alan R. Kurtz

Managing Director, Portfolio Manager

20 Years of Industry Experience

Jeremy I. Lehmann
Jeremy I. Lehmann, CFA

Portfolio Manager

8 Years of Industry Experience

Supported By 75 Investment Professionals with 17 Years Avg. Industry Experience

Your Representative

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

Performance

Performance

12-Month Dividend Yield 1 as of 10/15/2021  

w/o sales charge 0.61%

30-Day Standardized Yield 2 as of 09/30/2021  

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

Fund Expense Ratio :

1.31%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge 1.12% 21.71% 22.08% 18.70% 13.80% 9.17%
Lipper Category Avg. Convertible Securities Funds 3.87% 21.95% 18.33% 15.65% 12.38% -
ICE BofA All Convertible Index 6.38% 27.30% 20.21% 17.37% 14.37% 9.98%

Fund Expense Ratio :

1.31%

Fund Expense Ratio :

1.31%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge 1.12% 21.71% 22.08% 18.70% 13.80% 9.17%
Lipper Category Avg. Convertible Securities Funds 3.87% 21.95% 18.33% 15.65% 12.38% -
ICE BofA All Convertible Index 6.38% 27.30% 20.21% 17.37% 14.37% 9.98%

Fund Expense Ratio :

1.31%

Year Fund Returns ICE BofA All Convertible Index
2020 63.59% 46.22%
2019 24.40% 23.15%
2018 -3.80% 0.15%
2017 16.30% 13.70%
2016 12.29% 10.43%
2015 -8.14% -2.99%
2014 5.74% 9.44%
2013 25.59% 24.92%
2012 11.88% 14.96%
2011 -9.24% -5.18%
2010 14.51% -
2009 35.43% -
2008 -31.74% -
2007 8.98% -
2006 8.89% -
2005 3.65% -
2004 7.25% -
2003 10.82% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 1.45% -0.37% 0.05% - 3.08%
2020 -7.86% 26.99% 16.16% 20.36% 63.59%
2019 11.21% 4.63% -0.39% 7.32% 24.40%
2018 1.17% 2.51% 4.91% -11.59% -3.80%
2017 6.38% 2.65% 3.95% 2.45% 16.30%
2016 -1.54% 3.31% 7.87% 2.34% 12.29%
2015 2.45% -0.65% -9.59% -0.17% -8.14%
2014 2.11% 3.74% -1.34% 1.16% 5.74%
2013 6.54% 3.03% 7.76% 6.18% 25.59%
2012 9.32% -4.16% 4.66% 2.03% 11.88%
2011 4.53% -1.40% -14.70% 3.23% -9.24%
2010 3.20% -7.35% 11.06% 7.83% 14.51%
2009 1.85% 11.36% 12.92% 5.74% 35.43%
2008 -7.41% 3.43% -16.34% -14.79% -31.74%
2007 2.26% 3.93% 2.24% 0.29% 8.98%
2006 5.96% -2.19% 0.60% 4.45% 8.89%
2005 -2.24% 0.93% 5.18% -0.12% 3.65%
2004 2.55% -1.34% -1.52% 7.64% 7.25%
2003 - - 1.91% 8.75% 10.82%

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Convertible Bonds
Convertible Preferred Stock
Corporate Bonds
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 09/30/2021

Rating Assets
BBB
BB
B
Not Rated

Portfolio Positioning
as of 06/30/2021

  • The broader markets are still wary of inflation data and continue to adjust to a new regime. While this has generated some volatility in stocks, particularly within the growthier side of the market, there is a lot that makes us constructive. Credit remains supportive – credit spreads have been remarkably stable during this period of sharply rising and falling interest rates. Earnings results from areas of the market levered to consumer activity continue to improve. However, many stocks of some of the most innovative companies that reset sharply earlier in the quarter, many down 30-40%, are now at more attractive levels.
  • We believe Convertibles continue to be an attractive way to gain both cyclical and secular growth exposures, particularly with the market’s equity sensitivity having pulled back to a more balanced profile. We have continued to balance the portfolio between the two exposures, but have more recently added back some growth exposure, while also modestly reducing the exposure in the airlines / air transportation and cruise line industries.
  • We are closely monitoring interest rates and the credit markets as we think about our positioning. We have maintained our opportunistic and flexible approach and will continue to adapt to the ever-changing market and economic environment.

PORTFOLIO DETAILS as of 09/30/2021

Total Net Assets
$1.62 B
Number of Issues
88
Average Coupon
1.88%
Average Maturity
3.82 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 10/15/2021
$0.017
Dividend Frequency
Quarterly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
06/28/2021 06/29/2021 06/29/2021 $0.01660 $19.61
03/29/2021 03/30/2021 03/30/2021 $0.00060 $19.38

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
12/28/2021 12/29/2021 12/29/2021

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/17/2020 12/18/2020 $0.7259 $2.1367 $2.8626 $19.47

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
12/16/2021 12/17/2021

Fees & Expenses

Fees & Expenses

Expense Ratioas of 09/30/2021

1.31%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
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