LCRYX | Core Fixed Income Fund Class I | Lord Abbett
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Core Fixed Income Fund

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 04/21/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.39% 1.35%

30-Day Standardized Yield 2 as of 03/31/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.11% 1.07%

Fund Basicsas of 03/31/2021

Total Net Assets
$1.99 B
Inception Date
03/16/1998
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.40%
Fund Net Expense Ratio
0.36%
Number of Holdings
360
Minimum Initial Investment
$1,000,000+

Fund Expense Ratio :

Gross 0.40%

Net 0.36%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge -2.57% 3.56% 4.84% 3.32% 3.61% 5.15%
Lipper Category Avg. Core Bond Funds -2.94% 4.70% 4.82% 3.43% 3.50% -
Bloomberg Barclays U.S. Aggregate Bond Index -3.37% 0.71% 4.65% 3.10% 3.44% 4.78%

Fund Expense Ratio :

Gross 0.40%

Net 0.36%

Fund Expense Ratio :

Gross 0.40%

Net 0.36%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge -2.57% 3.56% 4.84% 3.32% 3.61% 5.15%
Lipper Category Avg. Core Bond Funds -2.94% 4.70% 4.82% 3.43% 3.50% -
Bloomberg Barclays U.S. Aggregate Bond Index -3.37% 0.71% 4.65% 3.10% 3.44% 4.78%

Fund Expense Ratio :

Gross 0.40%

Net 0.36%

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

Credit Quality Distribution as of 03/31/2021 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Investment Team

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

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

Partner & Portfolio Manager

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

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

Partner & Portfolio Manager

19 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

20 Years of Industry Experience

Supported By 63 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 04/21/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.39% 1.35%

30-Day Standardized Yield 2 as of 03/31/2021  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.11% 1.07%

Fund Expense Ratio :

Gross 0.40%

Net 0.36%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge -2.57% 3.56% 4.84% 3.32% 3.61% 5.15%
Lipper Category Avg. Core Bond Funds -2.94% 4.70% 4.82% 3.43% 3.50% -
Bloomberg Barclays U.S. Aggregate Bond Index -3.37% 0.71% 4.65% 3.10% 3.44% 4.78%

Fund Expense Ratio :

Gross 0.40%

Net 0.36%

Fund Expense Ratio :

Gross 0.40%

Net 0.36%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge -2.57% 3.56% 4.84% 3.32% 3.61% 5.15%
Lipper Category Avg. Core Bond Funds -2.94% 4.70% 4.82% 3.43% 3.50% -
Bloomberg Barclays U.S. Aggregate Bond Index -3.37% 0.71% 4.65% 3.10% 3.44% 4.78%

Fund Expense Ratio :

Gross 0.40%

Net 0.36%

Year Fund Returns Bloomberg Barclays U.S. Aggregate Bond Index
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% 4.22%
2011 7.82% 7.84%
2010 6.90% -
2009 12.88% -
2008 1.47% -
2007 6.60% -
2006 4.24% -
2005 2.40% -
2004 4.36% -
2003 4.18% -
2002 9.73% -
2001 9.46% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 -2.57% - - - -1.69%
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%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

Credit Quality Distribution as of 03/31/2021

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Portfolio Positioning as of 12/31/2020

  • Over the quarter, the largest change in the Fund’s composition was an increase in sovereign debt. We increased the allocation as we found attractive relative value in select issues overseas given their lag compared to U.S. credit since March.
  • We decreased the Fund’s allocation to U.S. investment grade corporate credit, as spreads tightened significantly over the quarter and we took gains in specific issues.
  • We feel valuations are fair, though tight relative to historical levels. This is justified by improving economic fundamentals and an abundance of liquidity in the market. We continue to have a broadly constructive view on credit, and are positioning the Fund based on relative value, underlying fundamentals, and our top-down view.
  • We are investing in the essential and nonessential industries that are benefitting from a continued reopening of the economy. The magnitude and scale of this global pandemic has accelerated some secular shifts which are likely to remain even with access of the vaccine. The portfolio’s positioning currently reflects this view as we are investing in companies and industries that we believe are better poised to adapt to and benefit from these structural economic changes.

Portfolio Details as of 03/31/2021

Total Net Assets
$1.99 B
Number of Issues
360
Average Coupon
1.91%
Average Life
6.67 Years
Average Maturity
6.67 Years
Average Effective Duration
6.32 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 04/21/2021
$0.038
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 03/31/2021 $0.01285 $11.00
Daily Daily 02/28/2021 $0.01266 $11.14
Daily Daily 01/31/2021 $0.01349 $11.28

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 04/30/2021
Daily Daily 05/31/2021
Daily Daily 06/30/2021
Daily Daily 07/31/2021
Daily Daily 08/31/2021
Daily Daily 09/30/2021
Daily Daily 10/31/2021
Daily Daily 11/30/2021
Daily Daily 12/31/2021

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/17/2020 12/18/2020 $0.0916 $0.2796 $0.3712 $11.30

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/16/2021 12/17/2021

Fees & Expenses

Fees & Expenses

Expense Ratioas of 03/31/2021

Fund Gross Expense Ratio Fund Net Expense Ratio
0.40% 0.36%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
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The Barclays 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. 

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