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Convertible Fund

Daily price w/o sales charge as of 08/10/2020

$17.45

arrowDown$0.14

YTD Returns w/o sales charge as of 08/10/2020

27.55%

Overall Morningstar Ratings

Convertibles
as of 07/31/2020

Morningstar rated the Lord Abbett Convertible Fund class R2 share 4, 4 and 3 stars among 75, 71 and 50 Convertibles Funds for the overall rating and the 3, 5 and 10 year periods ended 7/31/2020, respectively.

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.

Fund Basicsas of 06/30/2020

Total Net Assets
$924.36 M
Inception Date
09/28/2007
Dividend Frequency
Quarterly
Fund Expense Ratio
1.46%
Number of Holdings
96

Yield

12-Month Dividend Yield 1 as of 08/10/2020  

w/o sales charge 0.84%

30-Day Standardized Yield 2 as of 07/31/2020  

0.00%

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

Fund Expense Ratio :

1.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 26.24% 32.50% 16.30% 12.36% 10.62% 7.61%
Lipper Category Avg. Convertible Securities Funds 16.49% 21.97% 13.43% 10.32% 10.16% -
ICE BofA All Convertible Index 15.03% 21.64% 13.59% 10.85% 11.17% 8.32%

Fund Expense Ratio :

1.46%

Fund Expense Ratio :

1.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 16.95% 24.88% 14.11% 10.33% 10.30% 7.02%
Lipper Category Avg. Convertible Securities Funds 8.91% 15.96% 11.58% 8.77% 9.95% -
ICE BofA All Convertible Index 7.24% 15.34% 11.71% 9.24% 10.91% 7.78%

Fund Expense Ratio :

1.46%

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

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.

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.

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 06/30/2020

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 R. Kurtz
Alan R. Kurtz

Portfolio Manager

20 Years of Industry Experience

Supported By 73 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 08/10/2020  

w/o sales charge 0.84%

30-Day Standardized Yield 2 as of 07/31/2020  

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

Fund Expense Ratio :

1.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 26.24% 32.50% 16.30% 12.36% 10.62% 7.61%
Lipper Category Avg. Convertible Securities Funds 16.49% 21.97% 13.43% 10.32% 10.16% -
ICE BofA All Convertible Index 15.03% 21.64% 13.59% 10.85% 11.17% 8.32%

Fund Expense Ratio :

1.46%

Fund Expense Ratio :

1.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 16.95% 24.88% 14.11% 10.33% 10.30% 7.02%
Lipper Category Avg. Convertible Securities Funds 8.91% 15.96% 11.58% 8.77% 9.95% -
ICE BofA All Convertible Index 7.24% 15.34% 11.71% 9.24% 10.91% 7.78%

Fund Expense Ratio :

1.46%

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

The Fund changed its investment strategy on 09/28/2007. Performance is calculated from this date.

Year Fund Returns ICE BofA All Convertible Index
2019 24.25% 23.15%
2018 -3.98% 0.15%
2017 16.19% 13.70%
2016 11.95% 10.43%
2015 -8.49% -2.99%
2014 5.62% 9.44%
2013 25.38% 24.92%
2012 11.74% 14.96%
2011 -9.37% -5.18%
2010 14.41% 16.77%
2009 35.59% -
2008 -31.39% -
2007 8.33% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -7.92% 27.02% - - 27.55%
2019 11.26% 4.58% -0.47% 7.29% 24.25%
2018 1.11% 2.47% 4.88% -11.64% -3.98%
2017 6.43% 2.51% 4.00% 2.40% 16.19%
2016 -1.62% 3.24% 7.72% 2.32% 11.95%
2015 2.37% -0.74% -9.70% -0.27% -8.49%
2014 2.06% 3.73% -1.36% 1.14% 5.62%
2013 6.51% 3.01% 7.65% 6.15% 25.38%
2012 9.30% -4.11% 4.56% 1.96% 11.74%
2011 4.61% -1.53% -14.66% 3.10% -9.37%
2010 3.23% -7.37% 11.01% 7.78% 14.41%
2009 1.82% 11.57% 12.93% 5.70% 35.59%
2008 -7.34% 3.41% -16.00% -14.74% -31.39%
2007 2.25% 3.91% 1.69% 0.26% 8.33%

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)

Credit Quality Distribution as of 06/30/2020

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 DETAILS as of 06/30/2020

Total Net Assets
$924.36 M
Number of Issues
96
Average Coupon
1.86%
Average Maturity
4.1 Years
Average Modified Duration
4.2 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
Tesla Motors, Inc.2.000% 05/15/20246.2%
SunPower Corp.4.000% 01/15/20233.5%
DexCom, Inc.0.250% 11/15/20253.1%
Coupa Software Inc0.125% 06/15/20252.9%
Weibo Corp.1.250% 11/15/20222.7%
Microchip Technology, Inc.1.625% 02/15/20252.5%
NextEra Energy, Inc.4.870% 09/01/20222.5%
Huazhu Group Ltd0.375% 11/01/20222.4%
Burlington Stores, Inc.2.250% 04/15/20252.1%
RingCentral, Inc.0.000% 03/01/20252.1%
Square, Inc.0.375% 03/01/20222.0%
Akamai Technologies, Inc.0.375% 09/01/20272.0%
Southwest Airlines Co.1.250% 05/01/20251.9%
Redfin Corp1.750% 07/15/20231.9%
Lumentum Holdings, Inc.0.500% 12/15/20261.9%
Five9, Inc.0.500% 06/01/20251.9%
Canopy Growth Corp4.250% 07/15/20231.8%
Callaway Golf Co.2.750% 05/01/20261.8%
Scorpio Tankers, Inc.3.000% 05/15/20221.6%
Patrick Industries, Inc.1.000% 02/01/20231.6%
Restoration Hardware Holdings, Inc.0.000% 06/15/20231.6%
Danaher Corp.4.750% 04/15/20221.5%
Teradyne, Inc.1.250% 12/15/20231.5%
ServiceNow, Inc.0.000% 06/01/20221.4%
Etsy, Inc.0.125% 10/01/20261.4%
Wells Fargo & Co.7.500% -1.3%
Everbridge, Inc.0.125% 12/15/20241.3%
Winnebago Industries, Inc.1.500% 04/01/20251.2%
Okta Inc0.250% 02/15/20231.2%
Carnival Corp.5.750% 04/01/20231.2%
Insmed, Inc.1.750% 01/15/20251.2%
Chegg, Inc.0.250% 05/15/20231.2%
Crown Castle International Corp.6.880% 08/01/20201.1%
Twilio, Inc.0.250% 06/01/20231.1%
Tandem Diabetes Care, Inc.1.500% 05/01/20251.1%
Teladoc, Inc.3.000% 12/15/20221.1%
Hannon Armstrong Sustainable Infrastructure Capita4.125% 09/01/20221.1%
Advanced Micro Devices, Inc.2.125% 09/01/20261.0%
Repligen Corp.0.375% 07/15/20241.0%
Cerence Inc3.000% 06/01/20251.0%
2020 Mandatory Exchangeable Trust6.500% 05/16/20231.0%
Nevro Corp.1.750% 06/01/20211.0%
DocuSign Inc0.500% 09/15/20231.0%
Zynga, Inc.0.250% 06/01/20241.0%
Lyft Inc1.500% 05/15/20251.0%
Penn National Gaming, Inc.2.750% 05/15/20261.0%
Royal Caribbean Cruises Ltd.4.250% 06/15/20231.0%
Bridgebio Pharma Inc2.500% 03/15/20270.9%
Atlassian Inc0.625% 05/01/20230.9%
American Airlines Group, Inc.6.500% 07/01/20250.9%
Boston Scientific Corp.5.500% 06/01/20230.9%
GDS Holdings Ltd2.000% 06/01/20250.9%
CryoPort Inc3.000% 06/01/20250.9%
Inphi Corp.1.125% 12/01/20200.8%
CD Projekt SA0.000% -0.8%
Sarepta Therapeutics, Inc.1.500% 11/15/20240.8%
Neurocrine Biosciences, Inc.2.250% 05/15/20240.8%
Enphase Energy, Inc.1.000% 06/01/20240.7%
IH Merger Sub LLC3.500% 01/15/20220.7%
Natera, Inc.2.250% 05/01/20270.7%
Novellus Systems, Inc.2.625% 05/15/20410.7%
Q2 Holdings, Inc.0.750% 06/01/20260.7%
NVIDIA Corp.0.000% -0.7%
Danaher Corp.5.000% 04/15/20230.7%
NeoGenomics, Inc.1.250% 05/01/20250.7%
Pinduoduo Inc0.000% 10/01/20240.6%
Regeneron Pharmaceuticals, Inc.0.000% -0.6%
MongoDB Inc0.250% 01/15/20260.6%
Vertex Pharmaceuticals, Inc.0.000% -0.6%
RealReal Inc/The3.000% 06/15/20250.5%
Beyond Meat Inc0.000% -0.5%
SunPower Corp.0.875% 06/01/20210.5%
Chart Industries, Inc.1.000% 11/15/20240.5%
Micron Technology, Inc.3.125% 05/01/20320.5%
PTC Therapeutics, Inc.3.000% 08/15/20220.4%
Insulet Corp.1.375% 11/15/20240.4%
Rocket Pharmaceuticals Inc0.000% -0.4%
Arena Pharmaceuticals, Inc.0.000% -0.4%
Enphase Energy, Inc.0.250% 03/01/20250.4%
Insulet Corp.0.375% 09/01/20260.3%
Okta Inc0.375% 06/15/20260.2%
FX USD/CAD 07/200.000% 07/20/20200.0%
FX USD/CAD 07/200.000% 07/20/20200.0%
FX USD/PLN 07/200.000% 07/16/20200.0%
FX USD/CAD 07/200.000% 07/20/20200.0%
FX USD/PLN 07/200.000% 07/16/20200.0%
FX USD/PLN 07/200.000% 07/16/20200.0%
FX USD/PLN 07/200.000% 07/16/2020-0.1%
FX USD/PLN 07/200.000% 07/16/2020-0.1%
FX USD/CAD 07/200.000% 07/20/2020-0.1%
FX USD/PLN 07/200.000% 07/16/2020-0.1%
FX USD/CAD 07/200.000% 07/20/2020-0.1%
FX USD/CAD 07/200.000% 07/20/2020-0.2%
FX USD/CAD 07/200.000% 07/20/2020-0.3%
FX USD/PLN 07/200.000% 07/16/2020-0.4%
FX USD/CAD 07/200.000% 07/20/2020-1.0%

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 08/10/2020
$0.018
Dividend Frequency
Quarterly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
06/29/2020 06/30/2020 06/30/2020 $0.00420 $16.00
03/26/2020 03/27/2020 03/27/2020 $0.01430 $12.55

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
09/28/2020 09/29/2020 09/29/2020
12/28/2020 12/29/2020 12/29/2020

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/17/2019 12/18/2019 $0.5306 $0.4268 $0.9574 $13.56
*

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
12/17/2020 12/18/2020

Fees & Expenses

Fees & Expenses

Expense Ratioas of 07/31/2020

1.46%

Fund Documents

Fund Documents

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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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IMPORTANT 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.

 

3

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

 

4

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.

 

 

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 R2 - The performance quotations for Class R2 reflect the following methods of calculation: (a) for periods prior to the inception date for Class R2, a restated figure is used based on the Fund's Class A performance, excluding the effect of Class A's maximum sales charge (which does not apply to Class R2) adjusted to reflect the Rule 12b-1 rate differential between Class A and Class R2, which has a higher 12b-1 fee than Class A; and (b) for periods after the inception date for Class R2, actual Class R2 performance is used reflecting all charges and fees applicable to Class R2 shares. Hypothetical performance data for Class R2, as measured from since inception of the Fund using the methodology described above, is not available if the Class A inception date is equal or greater than ten years old. Please refer to the Class R2 performance information for the inception date for Class R2. Please refer to the Class A performance information for the inception date for Class A.

Class R2 shares are only offered to certain eligible investors. 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.

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.

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.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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