LBCQX | Convertible Fund Class R2 | 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 06/30/2021

Total Net Assets
$1.68 B
Inception Date
09/28/2007
Dividend Frequency
Quarterly
Fund Expense Ratio
1.46%
Number of Holdings
79

Yield

12-Month Dividend Yield 1 as of 07/26/2021  

w/o sales charge 0.64%

30-Day Standardized Yield 2 as of 06/30/2021  

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 0.97% 40.99% 23.83% 20.30% 11.79% 9.19%
Lipper Category Avg. Convertible Securities Funds 4.49% 36.56% 20.03% 17.16% 10.80% -
ICE BofA All Convertible Index 6.90% 45.75% 21.97% 18.86% 12.85% 10.17%

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 0.97% 40.99% 23.83% 20.30% 11.79% 9.19%
Lipper Category Avg. Convertible Securities Funds 4.49% 36.56% 20.03% 17.16% 10.80% -
ICE BofA All Convertible Index 6.90% 45.75% 21.97% 18.86% 12.85% 10.17%

Fund Expense Ratio :

1.46%

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
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 06/30/2021

Rating Assets
A
BBB
BB
B
Not Rated

INVESTMENT TEAM

Alan R. Kurtz
Alan R. Kurtz

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 07/26/2021  

w/o sales charge 0.64%

30-Day Standardized Yield 2 as of 06/30/2021  

  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 0.97% 40.99% 23.83% 20.30% 11.79% 9.19%
Lipper Category Avg. Convertible Securities Funds 4.49% 36.56% 20.03% 17.16% 10.80% -
ICE BofA All Convertible Index 6.90% 45.75% 21.97% 18.86% 12.85% 10.17%

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 0.97% 40.99% 23.83% 20.30% 11.79% 9.19%
Lipper Category Avg. Convertible Securities Funds 4.49% 36.56% 20.03% 17.16% 10.80% -
ICE BofA All Convertible Index 6.90% 45.75% 21.97% 18.86% 12.85% 10.17%

Fund Expense Ratio :

1.46%

Year Fund Returns ICE BofA All Convertible Index
2020 63.31% 46.22%
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% -
2009 35.59% -
2008 -31.39% -
2007 8.33% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 1.44% -0.46% - - 0.20%
2020 -7.92% 27.02% 16.11% 20.27% 63.31%
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
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 06/30/2021

Rating Assets
A
BBB
BB
B
Not Rated

Portfolio Positioning
as of 03/31/2021

  • The convertible market continues to offer exposure to a multitude of attractively-priced secular growth companies that should compound rapidly for several years to come. Many of these companies have seen accelerated adoption of their platform technologies over the last year, which we believe will continue to result in accelerating revenue growth and profitability.
  • Additionally, over the last year we have seen convertible issuance from several industries severely impacted by the COVID-19 pandemic: airlines, cruise operators, and brick & mortar retail just to name a few. As vaccines are distributed and economies reopen, we believe these industries will generate earnings at greater scale than they did before the shutdowns.
  • We have continued to rotate the fund towards more re-opening exposure at a measured pace. The fund’s reopening exposure is largely derived from two distinct types of companies. The first are secular growers with exposure to healthy cyclical tailwinds. The second type are more cyclical businesses, We remain constructive on a balance of secular growth alongside some re-opening exposure. We continue to be disciplined as to the portfolio’s overall delta, weighting in equity alternatives, and individual positions that have been outsized beneficiaries of the “work-from-home” backdrop.
  • 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 06/30/2021

Total Net Assets
$1.68 B
Number of Issues
79
Average Coupon
1.94%
Average Maturity
4.31 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 07/26/2021
$0.008
Dividend Frequency
Quarterly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
03/29/2021 03/30/2021 03/30/2021 $0.00800 $19.36

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
09/28/2021 09/29/2021 09/29/2021
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 $19.46

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 06/30/2021

1.46%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
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Statutory Prospectus
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Prospectus (XBRL)
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SAI
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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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