LCRYX | Core Fixed Income Fund Class I | Lord Abbett

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Core Fixed Income Fund

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Daily price w/o sales charge as of 06/02/2023

$9.29

arrowDown$0.05

YTD Returns w/o sales charge as of 06/02/2023

2.20%

Overall Morningstar Ratings

Intermediate Core Bond
as of 04/30/2023

Morningstar rated the Lord Abbett Core Fixed Income Fund class I share 4, 4 and 3 stars among 416, 380 and 282 Intermediate Core Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 4/30/2023, 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 Core Fixed Income Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in U.S. investment grade corporate, government, and mortgage- and asset-backed securities.

Yield

Dividend Yield 1 as of 06/02/2023  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.59% 4.55%

30-Day Standardized Yield 2 as of 04/30/2023  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.59% 4.55%

Average Yield to Worst as of 04/28/2023

5.05%

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

Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.

Fund Basicsas of 04/28/2023

Total Net Assets
$2.60 B
Inception Date
03/16/1998
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.37%
Fund Net Expense Ratio
0.33%
Number of Holdings
409
Minimum Initial Investment

+Minimum Exceptions, View Full Disclosure

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

Fund Expense Ratio :

Gross 0.37%

Net 0.33%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge 2.51% -2.57% -2.95% 0.88% 1.35% 4.28%
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg U.S. Aggregate Bond Index 2.46% -2.14% -3.65% 0.81% 1.39% 3.96%
w/ sales charge 2.51% -2.57% -2.95% 0.88% 1.35% 4.28%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.37%

Net 0.33%

Fund Expense Ratio :

Gross 0.37%

Net 0.33%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge 3.15% -5.33% -1.95% 0.96% 1.34% 4.33%
Lipper Category Avg. Core Bond Funds 3.04% -5.20% -1.70% 0.86% 1.29% -
Bloomberg U.S. Aggregate Bond Index 2.96% -4.78% -2.77% 0.91% 1.36% 4.01%

Fund Expense Ratio :

Gross 0.37%

Net 0.33%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Type Assets
MBS
U.S. Government Related
ABS
CMBS
Sovereign
CLO
Bank Loans
Corporates
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
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

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 04/28/2023 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
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 median, but if there are only two ratings, the lower rating is used. 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

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

29 Years of Industry Experience

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner & Portfolio Manager

25 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

32 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

15 Years of Industry Experience

Leah G. Traub
Leah G. Traub, Ph.D.

Partner & Portfolio Manager

22 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

23 Years of Industry Experience

Supported By 77 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 06/02/2023  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.59% 4.55%

30-Day Standardized Yield 2 as of 04/30/2023  

  Subsidized5 Un-Subsidized6
w/o sales charge 4.59% 4.55%

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

Fund Expense Ratio :

Gross 0.37%

Net 0.33%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge 2.51% -2.57% -2.95% 0.88% 1.35% 4.28%
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg U.S. Aggregate Bond Index 2.46% -2.14% -3.65% 0.81% 1.39% 3.96%
w/ sales charge 2.51% -2.57% -2.95% 0.88% 1.35% 4.28%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.37%

Net 0.33%

Fund Expense Ratio :

Gross 0.37%

Net 0.33%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge 3.15% -5.33% -1.95% 0.96% 1.34% 4.33%
Lipper Category Avg. Core Bond Funds 3.04% -5.20% -1.70% 0.86% 1.29% -
Bloomberg U.S. Aggregate Bond Index 2.96% -4.78% -2.77% 0.91% 1.36% 4.01%

Fund Expense Ratio :

Gross 0.37%

Net 0.33%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns Bloomberg U.S. Aggregate Bond Index
2022 -13.45% -13.01%
2021 -0.65% -1.54%
2020 8.18% 7.51%
2019 8.09% 8.72%
2018 -0.29% 0.01%
2017 3.46% 3.54%
2016 2.92% 2.65%
2015 -0.34% 0.55%
2014 6.34% 5.97%
2013 -2.00% -2.02%
2012 5.95% -
2011 7.82% -
2010 6.90% -
2009 12.88% -
2008 1.47% -
2007 6.60% -
2006 4.24% -
2005 2.40% -
2004 4.36% -
2003 4.18% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 3.15% - - - 2.20%
2022 -5.70% -5.14% -4.88% 1.72% -13.45%
2021 -2.57% 1.95% 0.03% -0.01% -0.65%
2020 1.78% 3.68% 1.39% 1.12% 8.18%
2019 2.89% 3.04% 2.10% -0.15% 8.09%
2018 -1.43% -0.28% 0.19% 1.25% -0.29%
2017 0.90% 1.37% 0.80% 0.34% 3.46%
2016 2.71% 2.42% 0.80% -2.94% 2.92%
2015 1.41% -1.61% 0.67% -0.80% -0.34%
2014 2.15% 2.22% 0.18% 1.66% 6.34%
2013 0.13% -2.68% 0.41% 0.15% -2.00%
2012 1.07% 2.20% 2.03% 0.53% 5.95%
2011 0.63% 2.24% 3.51% 1.24% 7.82%
2010 2.15% 3.28% 2.63% -1.27% 6.90%
2009 2.49% 4.04% 5.52% 0.33% 12.88%
2008 1.28% 0.01% -1.18% 1.39% 1.47%
2007 1.54% -0.75% 2.95% 2.74% 6.60%
2006 -0.47% -0.18% 3.74% 1.15% 4.24%
2005 -0.21% 2.97% -0.81% 0.48% 2.40%
2004 2.55% -2.39% 3.08% 1.15% 4.36%
2003 1.26% 2.79% -0.21% 0.31% 4.18%
2002 0.10% 2.94% 3.93% 2.46% 9.73%
2001 3.27% 0.53% 5.04% 0.38% 9.46%
2000 2.13% 2.18% 3.50% 4.61% 12.99%
1999 -0.19% -0.86% 1.16% 0.13% 0.22%
1998 - 2.64% 4.39% 0.59% 7.46%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
MBS
U.S. Government Related
ABS
CMBS
Sovereign
CLO
Bank Loans
Corporates
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
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

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 04/28/2023

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
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 median, but if there are only two ratings, the lower rating is used. 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 12/31/2022

  • During the quarter we focused on shifting the Fund’s overall positioning to be higher in quality and liquidity. Specifically, we used less volatile market days to take gains in lower quality holdings and repositioned the portfolio to a higher quality profile.
  • We reduced the Fund’s exposure to CMBS over the period. Sales were focused on hospitality and office backed SASB deals. We’ve maintained a very high bar to add with a preference for high quality, liquid names. Recently, we have been adding agency-backed CMBS due to our up-in-quality preference and the sector’s relative value.
  • We reduced lower-quality ABS exposure and identified opportunities to sell positions that outperformed during the period. 
  • We reduced the Fund’s exposure to MBS over the period based on relative value considerations.
  • We increased the Fund’s exposure to investment grade corporate bonds over the period. We added to Healthcare, Utilities, and Telecommunications as we sought defensive, non-cyclical sectors of the market. The Energy sector also remains a large active weight. The energy allocation reflects our view that the industry as a whole is in a position to benefit even if prices were much lower than they are today. We feel that this, in addition to improving credit fundamentals, is not appropriately reflected in credit ratings. Additionally, we continue to focus on companies that are deleveraging with solid operating fundamentals.
  • We also reduced the Fund’s exposure to Bank Loans over the period.

Portfolio Details as of 04/28/2023

Total Net Assets
$2.60 B
Number of Issues
409
Average Coupon
4.07%
Average Life
8.05 Years
Average Maturity
8.05 Years
Average Effective Duration
6.36 Years
Average Yield to Worst
5.05%

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 Life - Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security.  Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.

Holding Coupon Maturity Assets
United States Treasury Note/Bond 3.625% 03/31/2028 5.4%
United States Treasury Note/Bond 3.875% 02/15/2043 5.1%
United States Treasury Note/Bond 3.875% 03/31/2025 3.0%
30-YR GNMA II-TBA PROD JUN 5.000% 01/01/2053 2.8%
United States Treasury Note/Bond 3.625% 02/15/2053 2.7%
United States Treasury Inflation Indexed Bonds 1.625% 10/15/2027 1.8%
30-YR UMBS-TBA PROD JUN 5.500% 02/01/2053 1.7%
30-YR GNMA II-TBA PROD MAY 6.500% 11/01/2052 1.7%
Federal Home Loan Banks 4.810% 08/02/2023 1.6%
30-YR GNMA II-TBA PROD MAY 5.500% 12/01/2052 1.6%
% of Total Assets 27.4%
Holding Coupon Maturity Assets
United States Treasury Note/Bond3.625% 03/31/20285.3%
BARCLAYS CAPITAL0.010% 05/01/20235.2%
United States Treasury Note/Bond3.875% 02/15/20435.0%
United States Treasury Note/Bond3.875% 03/31/20252.9%
30-YR GNMA II-TBA PROD JUN5.000% 01/01/20532.7%
United States Treasury Note/Bond3.625% 02/15/20532.7%
BARCLAYS CAPITAL0.010% 05/01/20231.9%
United States Treasury Inflation Indexed Bonds1.625% 10/15/20271.8%
30-YR UMBS-TBA PROD JUN5.500% 02/01/20531.6%
30-YR GNMA II-TBA PROD MAY6.500% 11/01/20521.6%
Federal Home Loan Banks4.810% 08/02/20231.6%
30-YR GNMA II-TBA PROD MAY5.500% 12/01/20521.6%
30-YR GNMA II-TBA PROD JUN6.000% 11/01/20521.4%
United States Treasury Note/Bond4.125% 01/31/20251.4%
United States Treasury Bill0.000% 07/05/20231.4%
United States Treasury Bill0.000% 06/20/20231.4%
30-YR GNMA II-TBA PROD JUN3.000% 01/01/20521.3%
Province of Quebec Canada3.625% 04/13/20281.1%
30-YR UMBS-TBA PROD JUN6.000% 10/01/20520.9%
JPMorgan Chase & Co3.782% 02/01/20280.9%
United States Treasury Inflation Indexed Bonds1.500% 02/15/20530.9%
30-YR GNMA II-TBA PROD JUN4.500% 12/01/20520.9%
Svensk Exportkredit AB4.000% 07/15/20250.8%
15-YR UMBS-TBA PROD JUN5.000% 12/01/20370.8%
15-YR UMBS-TBA PROD JUN5.500% 12/01/20370.8%
Nordic Investment Bank2.875% 07/19/20230.7%
Fannie Mae Pool2.500% 08/01/20500.7%
Goldman Sachs Group Inc/The2.383% 07/21/20320.6%
Fannie Mae Pool2.500% 09/01/20500.6%
Amazon.com Inc4.700% 12/01/20320.6%
United States Treasury Note/Bond2.000% 11/15/20410.6%
Fannie Mae Pool3.000% 12/01/20480.6%
30-YR GNMA II-TBA PROD MAY6.000% 11/01/20520.6%
OMERS Finance Trust4.000% 04/20/20280.6%
Bank of America Corp3.970% 03/05/20290.6%
30-YR GNMA II-TBA PROD MAY4.000% 08/01/20520.6%
Kommuninvest I Sverige AB4.250% 12/10/20250.5%
Cassa Depositi e Prestiti SpA5.750% 05/05/20260.5%
Global Payments Inc0.000% 06/01/20230.5%
Santander Drive Auto Receivables Trust 2022-64.720% 06/15/20270.5%
Oracle Corp6.250% 11/09/20320.5%
T-Mobile USA Inc3.875% 04/15/20300.5%
Walgreens Boots Alliance Inc0.000% 05/19/20230.5%
30-YR UMBS-TBA PROD JUN6.500% 11/01/20520.5%
Hilton Worldwide Finance LLC6.821% 06/22/20260.5%
BAT Capital Corp3.222% 08/15/20240.5%
Kellogg Co5.250% 03/01/20330.5%
Brookfield Infrastructure Holdings Canada Inc0.000% 07/18/20230.5%
GE HealthCare Technologies Inc5.650% 11/15/20270.4%
Morgan Stanley4.431% 01/23/20300.4%
CVS Health Corp3.250% 08/15/20290.4%
Charter Communications Operating LLC6.721% 04/30/20250.4%
Centene Corp3.375% 02/15/20300.4%
Fannie Mae Pool2.500% 08/01/20500.4%
30-YR UMBS-TBA PROD JUN2.000% 11/01/20510.4%
Bank of America Corp2.687% 04/22/20320.4%
Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd6.298% 11/15/20360.4%
Citigroup Inc3.980% 03/20/20300.4%
Fannie Mae Pool2.500% 09/01/20510.4%
Capital One Prime Auto Receivables Trust 2023-14.870% 02/15/20280.4%
AT&T Inc4.300% 02/15/20300.4%
Capital One Prime Auto Receivables Trust 2022-12.710% 06/16/20250.4%
National Fuel Gas Co3.950% 09/15/20270.4%
Discover Card Execution Note Trust3.560% 07/15/20270.4%
Citigroup Inc2.666% 01/29/20310.4%
RWE AG0.000% 07/11/20230.4%
Connecticut Avenue Securities Trust 2023-R027.115% 01/25/20430.4%
UBS Group AG5.711% 01/12/20270.4%
Diamondback Energy Inc3.500% 12/01/20290.4%
30-YR UMBS-TBA PROD MAY4.500% 12/01/20520.4%
Flagship Credit Auto Trust 2022-34.550% 04/15/20270.3%
EQT Corp7.000% 02/01/20300.3%
American Transmission Systems Inc2.650% 01/15/20320.3%
GCAT 2023-NQM1 Trust4.250% 10/25/20570.3%
Duke Energy Corp4.500% 08/15/20320.3%
Cigna Group/The2.400% 03/15/20300.3%
Intercontinental Exchange Inc4.000% 09/15/20270.3%
State Street Corp4.164% 08/04/20330.3%
Warnermedia Holdings Inc3.428% 03/15/20240.3%
Goldman Sachs Group Inc/The3.272% 09/29/20250.3%
International Flavors & Fragrances Inc1.230% 10/01/20250.3%
Morgan Stanley2.239% 07/21/20320.3%
Avolon Holdings Funding Ltd2.125% 02/21/20260.3%
Freddie Mac Pool5.000% 08/01/20520.3%
JPMorgan Chase & Co2.963% 01/25/20330.3%
Freddie Mac Multifamily Structured Pass Through Certificates3.123% 08/25/20320.3%
Westlake Automobile Receivables Trust 2023-15.210% 01/18/20280.3%
Freddie Mac Pool4.500% 08/01/20520.3%
Freddie Mac Multifamily Structured Pass Through Certificates2.580% 05/25/20320.3%
AmeriCredit Automobile Receivables Trust 2022-24.200% 12/18/20250.3%
Humana Inc5.875% 03/01/20330.3%
OneMain Financial Issuance Trust 2022-35.940% 05/15/20340.3%
Continental Finance Credit Card ABS Master Trust2.240% 12/15/20280.3%
Avant Loans Funding Trust 2022-REV16.540% 09/15/20310.3%
Carlyle Global Market Strategies CLO 2014-5 Ltd6.400% 07/15/20310.3%
nVent Finance Sarl4.550% 04/15/20280.3%
Elevance Health Inc5.500% 10/15/20320.3%
30-YR GNMA II-TBA PROD JUN5.500% 12/01/20520.3%
CarMax Auto Owner Trust 2022-22.810% 05/15/20250.3%
30-YR GNMA II-TBA PROD MAY4.500% 12/01/20520.3%
Santander Drive Auto Receivables Trust 2022-54.430% 03/15/20270.3%
Wells Fargo & Co3.350% 03/02/20330.3%
ME Funding LLC 2019-16.448% 07/30/20490.3%
Crown Castle Inc3.300% 07/01/20300.3%
Fannie Mae Pool5.000% 08/01/20520.3%
Kentucky Utilities Co5.450% 04/15/20330.3%
Amgen Inc5.250% 03/02/20300.3%
Fannie Mae Pool2.000% 11/01/20510.3%
Capital One Multi-Asset Execution Trust5.810% 05/15/20280.3%
New York Life Global Funding4.550% 01/28/20330.3%
East Ohio Gas Co/The1.300% 06/15/20250.3%
GA Global Funding Trust3.850% 04/11/20250.3%
Macquarie Group Ltd4.654% 03/27/20290.3%
Continental Resources Inc/OK5.750% 01/15/20310.3%
30-YR UMBS-TBA PROD JUN4.000% 11/01/20520.3%
Entergy Corp0.900% 09/15/20250.3%
BA Credit Card Trust5.000% 04/15/20280.3%
Danske Bank A/S3.773% 03/28/20250.3%
IPALCO Enterprises Inc4.250% 05/01/20300.3%
Royal Bank of Canada6.000% 11/01/20270.3%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd6.048% 05/15/20360.3%
Santander Drive Auto Receivables Trust 2022-64.960% 11/15/20280.3%
US ULTRA BOND CBT Jun230.000% 06/30/20230.3%
30-YR GNMA II-TBA PROD MAY5.000% 01/01/20530.3%
Fannie Mae Pool4.000% 06/01/20520.3%
Fannie Mae Pool2.500% 01/01/20510.3%
New York City Transitional Finance Authority Future Tax Secured Revenue2.690% 05/01/20330.3%
Elevance Health Inc2.250% 05/15/20300.3%
Affirm Asset Securitization Trust 2023-A6.610% 01/18/20280.3%
Philip Morris International Inc5.625% 11/17/20290.3%
NextEra Energy Capital Holdings Inc5.807% 03/21/20240.3%
American Tower Corp3.800% 08/15/20290.3%
Southern Co/The2.700% 08/01/20240.2%
Eastern Gas Transmission & Storage Inc3.000% 11/15/20290.2%
DTE Electric Co5.400% 04/01/20530.2%
Flagship Credit Auto Trust 2023-15.010% 08/16/20270.2%
Citigroup Inc3.887% 01/10/20280.2%
Mexico Government International Bond4.875% 05/19/20330.2%
Lowe's Cos Inc5.000% 04/15/20330.2%
Freddie Mac Structured Agency Credit Risk Debt Notes6.915% 04/25/20430.2%
Fannie Mae Pool2.500% 12/01/20510.2%
UnitedHealth Group Inc4.000% 05/15/20290.2%
Galaxy Pipeline Assets Bidco Ltd3.250% 09/30/20400.2%
US Bancorp4.967% 07/22/20330.2%
Elmwood CLO 23 Ltd6.871% 04/16/20360.2%
Freddie Mac Pool2.500% 07/01/20510.2%
Lloyds Banking Group PLC3.900% 03/12/20240.2%
Post Road Equipment Finance 2022-14.880% 11/15/20280.2%
Discover Card Execution Note Trust5.030% 10/15/20270.2%
M&T Bank Corp5.053% 01/27/20340.2%
Global Payments Inc4.000% 06/01/20230.2%
Enel Finance International NV0.500% 06/17/20300.2%
Netflix Inc5.875% 11/15/20280.2%
Wells Fargo & Co2.393% 06/02/20280.2%
Freddie Mac STACR REMIC Trust 2022-HQA37.115% 08/25/20420.2%
Bank of America Corp3.458% 03/15/20250.2%
JPMorgan Chase & Co2.580% 04/22/20320.2%
Newark BSL CLO 1 Ltd6.417% 12/21/20290.2%
Honeywell International Inc4.125% 11/02/20340.2%
Fannie Mae Pool2.500% 06/01/20510.2%
Marlette Funding Trust 2022-35.950% 11/15/20320.2%
US Bancorp4.839% 02/01/20340.2%
ACRES Commercial Realty 2021-FL2 Ltd6.348% 01/15/20370.2%
Bank of America Corp2.299% 07/21/20320.2%
Dryden Senior Loan Fund6.730% 04/15/20280.2%
7-Eleven Inc0.800% 02/10/20240.2%
Fannie Mae Pool3.500% 04/01/20520.2%
Toronto-Dominion Bank/The4.456% 06/08/20320.2%
FactSet Research Systems Inc3.450% 03/01/20320.2%
Centene Corp2.450% 07/15/20280.2%
Wells Fargo Bank NA5.850% 02/01/20370.2%
Great Wolf Trust 2019-WOLF6.038% 12/15/20360.2%
Freddie Mac Pool5.000% 08/01/20520.2%
Lendmark Funding Trust 2021-22.370% 04/20/20320.2%
30-YR GNMA II-TBA PROD MAY3.000% 01/01/20520.2%
Constellation Brands Inc3.150% 08/01/20290.2%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc4.700% 02/01/20360.2%
Wells Fargo Commercial Mortgage Trust 2015-NXS33.972% 09/15/20570.2%
Avolon TLB Borrower 1 US LLC6.703% 01/15/20250.2%
HGI CRE CLO 2021-FL2 Ltd6.448% 09/17/20360.2%
CenterPoint Energy Resources Corp4.400% 07/01/20320.2%
CenterPoint Energy Resources Corp1.750% 10/01/20300.2%
Fannie Mae Pool2.500% 12/01/20510.2%
Westlake Automobile Receivables Trust 2023-15.410% 01/18/20280.2%
COMM 2014-CCRE17 Mortgage Trust4.174% 05/10/20470.2%
Panama Government International Bond2.252% 09/29/20320.2%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd6.348% 05/15/20360.2%
Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.2%
CSMC 2021-BHAR6.448% 11/15/20380.2%
Brown-Forman Corp4.750% 04/15/20330.2%
Cargill Inc4.000% 06/22/20320.2%
EIG Pearl Holdings Sarl3.545% 08/31/20360.2%
Humana Inc1.350% 02/03/20270.2%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.2%
Constellation Energy Generation LLC6.250% 10/01/20390.2%
CIM Trust 2020-INV12.500% 04/25/20500.2%
Halliburton Co7.450% 09/15/20390.2%
BlueMountain CLO XXXI Ltd6.415% 04/19/20340.2%
GM Financial Automobile Leasing Trust 2022-22.930% 10/21/20240.2%
HSBC Holdings PLC3.803% 03/11/20250.2%
Lending Funding Trust 2020-22.320% 04/21/20310.2%
Citigroup Mortgage Loan Trust 2022-INV13.000% 11/27/20510.2%
Bain Capital Credit CLO 2019-26.360% 10/17/20320.2%
PerkinElmer Inc0.850% 09/15/20240.2%
UBS Group AG1.494% 08/10/20270.2%
BX Trust 2018-GW5.748% 05/15/20350.2%
Rad CLO 6 Ltd6.630% 01/20/20330.2%
OCP Clo 2019-17 Ltd6.290% 07/20/20320.2%
Corp Nacional del Cobre de Chile5.125% 02/02/20330.2%
Aircastle Ltd2.850% 01/26/20280.2%
Avolon Holdings Funding Ltd5.250% 05/15/20240.2%
Eni SpA5.700% 10/01/20400.2%
JP Morgan Mortgage Trust 2021-32.500% 07/25/20510.2%
Wells Fargo & Co5.389% 04/24/20340.2%
Octagon Investment Partners XVII Ltd6.255% 01/25/20310.2%
Magnetite VII Ltd6.060% 01/15/20280.2%
Bank of America Corp1.658% 03/11/20270.2%
Bank of New York Mellon Corp/The4.967% 04/26/20340.2%
30-YR GNMA II-TBA PROD MAY3.500% 06/01/20520.2%
Wisconsin Power and Light Co3.950% 09/01/20320.2%
Wells Fargo & Co2.188% 04/30/20260.2%
COMM 2015-LC21 Mortgage Trust4.043% 07/10/20480.2%
MF1 2022-FL9 LLC7.067% 06/19/20370.2%
Bank of America Corp3.593% 07/21/20280.2%
NOV Inc3.600% 12/01/20290.2%
CVS Health Corp1.750% 08/21/20300.2%
Freddie Mac Structured Agency Credit Risk Debt Notes7.465% 07/25/20420.2%
BRAVO Residential Funding Trust 2021-NQM20.970% 03/25/20600.2%
Aviation Capital Group LLC1.950% 01/30/20260.2%
International Business Machines Corp1.500% 05/23/20290.2%
Eaton Vance CLO 2013-1 Ltd6.510% 01/15/20340.2%
Baltimore Gas and Electric Co4.550% 06/01/20520.2%
Connecticut Avenue Securities Trust 2023-R017.215% 12/25/20420.2%
American Express Co4.420% 08/03/20330.2%
Bank of New York Mellon Corp/The4.596% 07/26/20300.2%
UBS Group AG1.364% 01/30/20270.2%
Citigroup Inc3.352% 04/24/20250.2%
Fannie Mae Pool2.000% 11/01/20510.2%
J.P. Morgan Mortgage Trust 2021-INV83.000% 05/25/20520.2%
MF1 2022-FL8 Ltd6.132% 02/19/20370.2%
Haleon US Capital LLC3.625% 03/24/20320.2%
Kinder Morgan Energy Partners LP4.250% 09/01/20240.2%
Post Road Equipment Finance 2021-11.690% 11/15/20270.2%
Freddie Mac Pool2.500% 11/01/20500.2%
GS Mortgage-Backed Securities Trust 2023-PJ13.500% 02/25/20530.2%
Southwest Gas Corp4.050% 03/15/20320.2%
International Business Machines Corp3.750% 02/06/20350.2%
Marlette Funding Trust 2020-24.650% 09/16/20300.1%
Fannie Mae Pool2.000% 06/01/20510.1%
Continental Resources Inc/OK4.900% 06/01/20440.1%
BANK 2022-BNK445.938% 11/15/20550.1%
BNP Paribas SA4.375% 03/01/20330.1%
Deephaven Residential Mortgage Trust 2021-31.194% 08/25/20660.1%
Oracle Corp2.875% 03/25/20310.1%
Texas Natural Gas Securitization Finance Corp5.102% 04/01/20350.1%
CVS Health Corp5.050% 03/25/20480.1%
Prosus NV3.257% 01/19/20270.1%
Fannie Mae Pool2.500% 05/01/20520.1%
LoanCore 2022-CRE7 Issuer Ltd6.300% 01/17/20370.1%
Palmer Square Loan Funding 2021-1 Ltd6.150% 04/20/20290.1%
Flagstar Mortgage Trust 2021-11INV3.000% 11/25/20510.1%
Metropolitan Life Global Funding I5.150% 03/28/20330.1%
Minejesa Capital BV4.625% 08/10/20300.1%
Park Aerospace Holdings Ltd5.500% 02/15/20240.1%
30-YR UMBS-TBA PROD MAY6.000% 10/01/20520.1%
Dryden 61 Clo Ltd6.250% 01/17/20320.1%
SCF Equipment Leasing 2021-1 LLC1.540% 10/21/20300.1%
Oglethorpe Power Corp5.950% 11/01/20390.1%
EQUS 2021-EQAZ Mortgage Trust5.703% 10/15/20380.1%
F&G Global Funding2.300% 04/11/20270.1%
BX Trust 2021-ARIA7.192% 10/15/20360.1%
Freddie Mac Pool5.000% 07/01/20520.1%
Upstart Securitization Trust 2021-21.750% 06/20/20310.1%
Oklahoma Gas and Electric Co5.400% 01/15/20330.1%
Freddie Mac STACR REMIC Trust 2022-DNA37.715% 04/25/20420.1%
Westlake Automobile Receivables Trust 2020-33.340% 06/15/20260.1%
Morgan Stanley5.050% 01/28/20270.1%
EFMT 2023-15.732% 02/25/20680.1%
Broadcom Inc4.150% 04/15/20320.1%
Macquarie Bank Ltd3.052% 03/03/20360.1%
Octagon Investment Partners XIV Ltd6.210% 07/15/20290.1%
Saudi Government International Bond4.875% 07/18/20330.1%
Kenvue Inc5.050% 03/22/20530.1%
Connecticut Avenue Securities Trust 2022-R087.365% 07/25/20420.1%
Fannie Mae Pool4.000% 05/01/20520.1%
Crown Castle Inc2.100% 04/01/20310.1%
Fannie Mae Pool2.500% 12/01/20510.1%
NGPL PipeCo LLC3.250% 07/15/20310.1%
Elmwood CLO VIII Ltd6.490% 01/20/20340.1%
GS Mortgage Securities Corp Trust 2022-AGSS7.084% 08/15/20390.1%
Fannie Mae Pool3.500% 07/01/20450.1%
Mitsubishi UFJ Financial Group Inc5.541% 04/17/20260.1%
Carlyle Global Market Strategies CLO 2015-1 Ltd6.230% 07/20/20310.1%
Abu Dhabi Crude Oil Pipeline LLC4.600% 11/02/20470.1%
Cellnex Finance Co SA3.875% 07/07/20410.1%
Netflix Inc6.375% 05/15/20290.1%
Ohio Edison Co8.250% 10/15/20380.1%
Angel Oak Mortgage Trust 2022-34.000% 01/25/20670.1%
Elevance Health Inc5.125% 02/15/20530.1%
British Airways 2020-1 Class A Pass Through Trust4.250% 05/15/20340.1%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.1%
Duke Energy Indiana LLC5.400% 04/01/20530.1%
BHMS 2018-ATLS6.198% 07/15/20350.1%
Bayer Corp/NJ6.650% 02/15/20280.1%
COMM 2014-UBS4 Mortgage Trust4.869% 08/10/20470.1%
Fannie Mae Pool3.000% 01/01/20510.1%
NiSource Inc2.950% 09/01/20290.1%
Freddie Mac STACR REMIC Trust 2021-DNA76.615% 11/25/20410.1%
Freddie Mac STACR REMIC Trust 2021-DNA66.315% 10/25/20410.1%
Freddie Mac Pool3.500% 02/01/20460.1%
Fannie Mae Pool5.000% 07/01/20520.1%
KKR CLO 29 Ltd6.460% 01/15/20320.1%
T-Mobile USA Inc3.500% 04/15/20250.1%
Stars Group Holdings BV7.409% 07/21/20260.1%
Marble Point CLO XVII Ltd6.550% 04/20/20330.1%
ServiceNow Inc1.400% 09/01/20300.1%
Fannie Mae Pool4.000% 05/01/20520.1%
Fannie Mae Pool2.500% 08/01/20500.1%
Connecticut Avenue Securities Trust 2021-R016.365% 10/25/20410.1%
BX Commercial Mortgage Trust 2021-XL25.636% 10/15/20380.1%
GS Mortgage-Backed Securities Corp Trust 2020-PJ43.000% 01/25/20510.1%
SEB Funding LLC4.969% 01/30/20520.1%
Morgan Stanley2.484% 09/16/20360.1%
AES Corp/The3.950% 07/15/20300.1%
Barings CLO Ltd 2019-III6.320% 04/20/20310.1%
JPMBB Commercial Mortgage Securities Trust 2015-C304.371% 07/15/20480.1%
Fannie Mae Connecticut Avenue Securities6.815% 11/25/20410.1%
Fannie Mae Pool5.000% 07/01/20520.1%
Viterra Finance BV4.900% 04/21/20270.1%
TCI-Flatiron Clo 2017-1 Ltd5.861% 11/18/20300.1%
Fannie Mae Pool2.500% 09/01/20510.1%
Fannie Mae Pool2.500% 08/01/20510.1%
Mariner Finance Issuance Trust 2021-A3.830% 03/20/20360.1%
BANK 2021-BNK352.285% 06/15/20640.1%
Daimler Truck Finance North America LLC5.200% 01/17/20250.1%
Apidos CLO XXXV6.300% 04/20/20340.1%
Alfa Desarrollo SpA4.550% 09/27/20510.1%
Occidental Petroleum Corp6.450% 09/15/20360.1%
TCW CLO 2022-1 Ltd6.411% 04/22/20330.1%
BX Trust 2021-LBA5.804% 02/15/20360.1%
Hilton Orlando Trust 2018-ORL5.968% 12/15/20340.1%
Ares XL CLO Ltd6.130% 01/15/20290.1%
Hudsons Bay Simon JV Trust 2015-HBS4.666% 08/05/20340.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
Texas Debt Capital CLO 2023-I Ltd6.848% 04/20/20360.1%
Angel Oak Mortgage Trust 2021-31.068% 05/25/20660.1%
Mountain View CLO 2017-1 LLC6.350% 10/16/20290.1%
Ballyrock CLO 23 Ltd7.048% 04/25/20360.1%
30-YR UMBS-TBA PROD MAY4.000% 11/01/20520.1%
Lendmark Funding Trust 2021-13.410% 11/20/20310.1%
Freddie Mac STACR REMIC Trust 2021-HQA45.765% 12/25/20410.1%
Apidos CLO XXVI6.762% 07/18/20290.1%
Sunrun Demeter Issuer 2021-2 LLC2.270% 01/30/20570.1%
Alcoa Nederland Holding BV4.125% 03/31/20290.1%
Citigroup Inc4.140% 05/24/20250.1%
DTE Energy Co0.000% 11/01/20240.1%
UBS AG5.125% 05/15/20240.1%
Metropolitan Life Global Funding I4.050% 08/25/20250.1%
Cigna Group/The4.375% 10/15/20280.1%
Sabine Pass Liquefaction LLC5.625% 03/01/20250.1%
CF Trust 2019-BOSS8.198% 12/15/20240.1%
American Tower Corp2.950% 01/15/20250.1%
Fannie Mae Pool3.500% 09/01/20510.1%
Freddie Mac Pool2.500% 05/01/20520.0%
Starwood Mortgage Residential Trust 2020-31.486% 04/25/20650.0%
Assurant Inc2.650% 01/15/20320.0%
BBCMS 2019-BWAY Mortgage Trust5.960% 11/15/20340.0%
GS Mortgage Securities Corp Trust 2018-RIVR5.898% 07/15/20350.0%
Baxalta Inc4.000% 06/23/20250.0%
Verus Securitization Trust 2020-41.502% 05/25/20650.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN6.218% 11/15/20350.0%
US 10YR NOTE (CBT)Jun230.000% 06/30/20230.0%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.0%
GCAT 2020-NQM2 Trust1.555% 04/25/20650.0%
Bank of America Corp4.000% 01/22/20250.0%
Freddie Mac Multifamily Structured Pass Through Certificates2.113% 02/25/20320.0%
30-YR UMBS-TBA PROD MAY6.500% 11/01/20520.0%
Oracle Corp6.125% 07/08/20390.0%
Vista Point Securitization Trust 2020-21.475% 04/25/20650.0%
Oracle Corp5.375% 07/15/20400.0%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.0%
BBCMS 2019-BWAY Mortgage Trust6.314% 11/15/20340.0%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.0%
CSMC 2020-NQM1 Trust1.208% 05/25/20650.0%
Ellington Financial Mortgage Trust 2020-12.006% 05/25/20650.0%
Galaxy XXI CLO Ltd6.270% 04/20/20310.0%
Verus Securitization Trust 2020-INV11.977% 03/25/20600.0%
ReadyCap Commercial Mortgage Trust 2019-62.833% 10/25/20520.0%
Towd Point Asset Trust 2018-SL15.620% 01/25/20460.0%
Verus Securitization Trust 2020-12.417% 01/25/20600.0%
Credit Suisse Mortgage Capital Certificates1.616% 04/25/20650.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
Citigroup Commercial Mortgage Trust 2014-GC211.286% 05/10/20470.0%
FX EUR/USD 06/230.000% 06/13/20230.0%
WFRBS Commercial Mortgage Trust 2014-C230.695% 10/15/20570.0%
Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
FX EUR/USD 06/230.000% 06/13/20230.0%
US 10yr Ultra Fut Jun230.000% 06/30/20230.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
COMM 2014-CCRE19 Mortgage Trust1.085% 08/10/20470.0%
US 5YR NOTE (CBT) Jun230.000% 07/06/20230.0%
Westlake Automobile Receivables Trust 2019-23.200% 11/15/20240.0%
US 2YR NOTE (CBT) Jun230.000% 07/06/20230.0%
EURO-BOBL FUTURE Jun230.000% 06/12/20230.0%
EURO-BUND FUTURE Jun230.000% 06/12/20230.0%
US LONG BOND(CBT) Jun230.000% 06/30/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
LAC0.010% 05/01/2023-5.2%

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 06/02/2023
$0.17232
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 05/31/2023 $0.03556 $9.32
Daily Daily 04/30/2023 $0.03541 $9.47
Daily Daily 03/31/2023 $0.03625 $9.45
Daily Daily 02/28/2023 $0.03233 $9.27
Daily Daily 01/31/2023 $0.03278 $9.53

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 06/30/2023
Daily Daily 07/31/2023
Daily Daily 08/31/2023
Daily Daily 09/30/2023
Daily Daily 10/31/2023
Daily Daily 11/30/2023
Daily Daily 12/31/2023

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 $0.0408 - $0.0408 $11.09
*

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. 

Fees & Expenses

Fees & Expenses

Expense Ratioas of 04/30/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.37% 0.33%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
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Statutory Prospectus
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
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Commentary
Publish Date:11/03/2015

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*"Barron's Best Fund Families of 2021", #4 ranking in the Taxable Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families. Ranking for the ten-year period ending 12/31/2021 is #2 out of 45 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2021,” February 18, 2022. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2021, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.

© Refinitiv Lipper 2022. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

+

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

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 Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

 

4

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

 

5

The 30-day Standardized Subsidized yields reflect 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: The Fund is subject to the general risks associated with investing in fixed income securities, including market, credit, liquidity, and interest rate risk. The value of an investment in the Fund will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the prices of debt securities tend to rise. The Fund may invest in Treasury Inflation Protected Securities and other inflation-indexed securities, which are subject to greater inflation rate and interest rate volatility. 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.

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 Bloomberg U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. 

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.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

 

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.

 

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.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

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.

Select funds to run a Morningstar Hypothetical Report.

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