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Core Fixed Income Fund

Daily price w/o sales charge as of 09/20/2019

$11.29

arrowUp$0.03

YTD Returns w/o sales charge as of 09/20/2019

8.17%

Overall Morningstar Ratings

Intermediate Core Bond
as of 08/31/2019

Morningstar rated the Lord Abbett Core Fixed Income Fund class P share 4, 4 and 3 stars among 353, 308 and 234 Intermediate Core Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 8/31/2019, 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 09/20/2019  

w/o sales charge 2.89%

30-Day Standardized Yield 2 as of 08/31/2019  

3.32%

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

Fund Basicsas of 08/30/2019

Total Net Assets
$1.43 B
Inception Date
08/31/2000
Dividend Frequency
Monthly
Fund Expense Ratio
0.87%
Number of Holdings
355

Fund Expense Ratio :

0.87%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 9.13% 10.08% 3.48% 3.23% 3.92% 4.97%
Lipper Category Avg. Core Bond Funds 9.03% 9.43% 2.97% 3.00% 4.08% -
Bloomberg Barclays U.S. Aggregate Bond Index 9.10% 10.17% 3.09% 3.35% 3.91% 4.98%

Fund Expense Ratio :

0.87%

Fund Expense Ratio :

0.87%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 6.04% 7.78% 2.73% 2.80% 4.03% 4.86%
Lipper Category Avg. Core Bond Funds 6.29% 7.35% 2.37% 2.62% 4.25% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.11% 7.87% 2.31% 2.95% 3.90% 4.87%

Fund Expense Ratio :

0.87%

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

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
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
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 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 08/30/2019 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB

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

25 Years of Industry Experience

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

Partner & Portfolio Manager

21 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Supported By 68 Investment Professionals with 15 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 09/20/2019  

w/o sales charge 2.89%

30-Day Standardized Yield 2 as of 08/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.32% 3.32%

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

Fund Expense Ratio :

0.87%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 9.13% 10.08% 3.48% 3.23% 3.92% 4.97%
Lipper Category Avg. Core Bond Funds 9.03% 9.43% 2.97% 3.00% 4.08% -
Bloomberg Barclays U.S. Aggregate Bond Index 9.10% 10.17% 3.09% 3.35% 3.91% 4.98%

Fund Expense Ratio :

0.87%

Fund Expense Ratio :

0.87%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 6.04% 7.78% 2.73% 2.80% 4.03% 4.86%
Lipper Category Avg. Core Bond Funds 6.29% 7.35% 2.37% 2.62% 4.25% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.11% 7.87% 2.31% 2.95% 3.90% 4.87%

Fund Expense Ratio :

0.87%

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

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 Barclays U.S. Aggregate Bond Index
2018 0.45% 0.01%
2017 4.23% 3.54%
2016 2.49% 2.65%
2015 -0.72% 0.55%
2014 5.86% 5.97%
2013 -2.42% -2.02%
2012 5.37% 4.22%
2011 7.41% 7.84%
2010 6.40% 6.54%
2009 12.47% 5.93%
2008 0.93% -
2007 6.12% -
2006 3.77% -
2005 2.03% -
2004 3.68% -
2003 3.71% -
2002 9.30% -
2001 9.54% -
2000 5.80% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 2.97% 2.98% - - 8.18%
2018 -1.24% 0.07% 0.26% 1.37% 0.45%
2017 0.72% 1.62% 1.16% 0.67% 4.23%
2016 2.60% 2.32% 0.69% -3.03% 2.49%
2015 1.32% -1.70% 0.48% -0.80% -0.72%
2014 2.03% 2.11% 0.07% 1.55% 5.86%
2013 0.03% -2.77% 0.30% 0.04% -2.42%
2012 0.96% 2.00% 2.00% 0.33% 5.37%
2011 0.52% 2.12% 3.48% 1.12% 7.41%
2010 2.11% 3.06% 2.60% -1.45% 6.40%
2009 2.47% 3.92% 5.39% 0.22% 12.47%
2008 1.16% -0.10% -1.29% 1.17% 0.93%
2007 1.43% -0.85% 2.85% 2.60% 6.12%
2006 -0.68% -0.29% 3.71% 1.03% 3.77%
2005 -0.23% 2.84% -0.91% 0.37% 2.03%
2004 2.43% -2.49% 2.94% 0.84% 3.68%
2003 1.15% 2.62% -0.27% 0.17% 3.71%
2002 0.09% 2.86% 3.84% 2.25% 9.30%
2001 3.27% 0.53% 5.13% 0.38% 9.54%
2000 - - - 4.81% 5.80%

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
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
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 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 08/30/2019

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB

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 6/30/2019

  • We increased the portfolio’s allocation to MBS over the quarter. MBS valuations became attractive as     mortgage spreads over Treasuries reached their widest levels in the post crisis era, as lower rates     have resulted in a mini-refinancing boom and thus increased call risk within MBS, increasing risk     premium. We continue to monitor and trade a range with respect to MBS spreads to Treasuries.
  • We reduced the portfolio’s allocation to asset-backed securities (ABS) that are backed by student     loans and credit card receivables. While we continue to maintain a favorable view on ABS, we were     able to take profits and reallocate the portfolio’s ABS positioning following the volatility that occurred     within risk assets during May, which resulted in tighter ABS spreads relative to corporate bonds. In     addition, we sold deals that did not have strong language regarding the eventual change from using     LIBOR to using the Secured Overnight Financing Rate (SOFR).
  • We maintained the portfolio’s overweight position within commercial mortgage-backed securities     (CMBS). CMBS continue to offer less sensitivity to the potential deterioration of U.S. trade conditions     as it is an asset class with a domestic orientation. We favor SASB (single-asset / single-borrower)     deals across the credit spectrum. Generally, these deals have had superior asset quality and     underwriting versus conduit deals as well as stronger borrower profiles.

Portfolio Details as of 08/30/2019

Total Net Assets
$1.43 B
Number of Issues
355
Average Coupon
3.07%
Average Life
7.72 Years
Average Effective Duration
5.74 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 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.

Holding Coupon Maturity Assets
30-YR UMBS-TBA PROD SEP 3.500% 12/01/2048 24.5%
United States Treasury Bill 0.000% 11/21/2019 12.9%
30-YR UMBS-TBA PROD SEP 4.000% 12/01/2048 7.2%
U.S. Treasury Note/Bond 2.500% 01/31/2021 6.8%
TD Securities (USA) LLC 0.010% - 4.8%
30-YR UMBS-TBA PROD SEP 3.000% 03/01/2049 4.6%
Federal Home Loan Bank 0.000% 11/05/2019 4.5%
Federal Home Loan Bank 0.000% 09/06/2019 4.5%
U.S. Treasury Note 0.625% 04/15/2023 4.1%
U.S. Treasury Note/Bond 2.875% 05/15/2049 3.9%
% of Total Assets 77.8%

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.

Holding Coupon Maturity Assets
Fannie Mae or Freddie Mac3.500% 08/01/204917.7%
United States Treasury Bill0.000% 08/27/201912.6%
Fannie Mae or Freddie Mac4.000% 08/01/204911.4%
U.S. Treasury Note/Bond2.500% 01/31/20219.1%
TD Securities (USA) LLC0.010% -6.2%
J.P.Morgan Securities LLC0.010% -5.0%
Federal Home Loan Bank0.000% 09/06/20194.7%
Fannie Mae or Freddie Mac3.000% 08/01/20494.3%
U.S. Treasury Note0.625% 04/15/20234.2%
U.S. Treasury Note/Bond3.000% 02/15/20492.8%
U.S. Treasury Note/Bond1.750% 06/30/20242.6%
U.S. Treasury Note/Bond2.750% 11/15/20472.4%
U.S. Treasury Note/Bond2.625% 02/15/20291.2%
JPMorgan Chase & Co.3.782% 02/01/20280.9%
Bank of America Corp.3.593% 07/21/20280.7%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20360.6%
Citigroup, Inc.3.887% 01/10/20280.6%
Wells Fargo Bank, N.A.5.850% 02/01/20370.5%
Toronto-Dominion Bank3.625% 09/15/20310.5%
Santander Drive Auto Receivables Trust 2015-44.540% 11/15/20220.5%
Japan Bank for International Cooperation/Japan2.125% 02/10/20250.5%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.5%
ENI SpA5.700% 10/01/20400.4%
U.S. Treasury Note/Bond1.750% 07/31/20240.4%
Morgan Stanley4.000% 07/23/20250.4%
General Motors Co.6.600% 04/01/20360.4%
Morgan Stanley3.875% 01/27/20260.4%
Ford Credit Auto Owner Trust 2014-REV22.310% 04/15/20260.4%
Drive Auto Receivables Trust5.300% 07/15/20240.4%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.4%
Santander Drive Auto Receivables Trust 2016-24.380% 09/15/20230.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
Japan Bank for International Cooperation/Japan2.500% 05/23/20240.4%
Norfolk Southern Corp.5.590% 05/17/20250.4%
GE Capital International Funding Co.4.418% 11/15/20350.4%
Barclays Dryrock Issuance Trust2.625% 05/15/20230.4%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.4%
JP Morgan Chase Commercial Mortgage Securities Tru3.310% 07/05/20330.4%
Berkshire Hathaway Energy Co.3.800% 07/15/20480.3%
Elm CLO 2014-1 Ltd3.473% 01/17/20290.3%
Honda Auto Receivables 2019-1 Owner Trust2.750% 09/20/20210.3%
SCF Equipment Leasing 2019-1 LLC3.920% 11/20/20260.3%
Santander Drive Auto Receivables Trust 2016-15.020% 06/15/20230.3%
NextGear Floorplan Master Owner Trust3.690% 10/15/20230.3%
Time Warner Cable LLC7.300% 07/01/20380.3%
OHA Loan Funding 2016-1 Ltd4.078% 01/20/20280.3%
Saudi Government International Bond3.250% 10/26/20260.3%
Drive Auto Receivables Trust 2017-23.490% 09/15/20230.3%
BX Commercial Mortgage Trust 2018-BIOA2.996% 03/15/20370.3%
Hilton Orlando Trust 2018-ORL3.095% 12/15/20340.3%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.3%
GE Capital Credit Card Master Note Trust1.760% 09/15/20220.3%
Santander Drive Auto Receivables Trust 2015-24.020% 09/15/20220.3%
Citibank Credit Card Issuance Trust1.800% 09/20/20210.3%
Ally Auto Receivables Trust 2016-11.990% 03/15/20210.3%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.3%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.3%
Mercedes-Benz Auto Lease Trust 2018-B3.040% 12/15/20200.3%
Reynolds American, Inc.5.700% 08/15/20350.3%
Tencent Holdings Ltd.3.595% 01/19/20280.3%
Ecopetrol S.A.4.125% 01/16/20250.3%
Shackleton 2019-XIV Clo Ltd0.000% 07/20/20300.3%
Americredit Automobile Receivables Trust 2018-22.860% 11/18/20210.3%
Government National Mortgage Association2.700% 08/16/20580.3%
Halliburton Co.7.450% 09/15/20390.3%
Tralee CLO III Ltd3.308% 10/20/20270.3%
COMM Mortgage Trust4.440% 07/10/20500.3%
Benefit Street Partners CLO IV Ltd3.528% 01/20/20290.3%
Air Lease Corp.3.625% 12/01/20270.3%
Anglo American Capital plc4.750% 04/10/20270.3%
Macquarie Group Ltd.4.654% 03/27/20290.2%
Qtel International Finance Ltd.3.750% 06/22/20260.2%
Apache Corp.4.750% 04/15/20430.2%
JP Morgan Chase Commercial Mortgage Securities Tru3.325% 06/15/20320.2%
ALM VII Ltd4.153% 07/15/20290.2%
Nvent Finance Sarl4.550% 04/15/20280.2%
UBS AG7.625% 08/17/20220.2%
Government National Mortgage Association2.600% 06/16/20570.2%
American Express Credit Account Master Trust1.930% 09/15/20220.2%
Broadcom Inc3.625% 10/15/20240.2%
Goldman Sachs Group, Inc.6.750% 10/01/20370.2%
Drive Auto Receivables Trust5.150% 08/15/20220.2%
Government National Mortgage Association2.900% 02/16/20490.2%
BX Trust 2018-GW3.125% 05/15/20350.2%
Gilead Sciences, Inc.4.600% 09/01/20350.2%
Flagship Credit Auto Trust 2018-33.070% 02/15/20230.2%
World Financial Network Credit Card Master Trust1.980% 06/15/20230.2%
Shell International Finance BV6.375% 12/15/20380.2%
Westlake Automobile Receivables Trust 2019-23.060% 02/15/20230.2%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.2%
Santander UK plc7.950% 10/26/20290.2%
Hyundai Auto Receivables Trust 2017-A2.530% 11/15/20230.2%
Siemens Financial Services, Inc.2.350% 10/15/20260.2%
EPR Properties4.500% 06/01/20270.2%
IFM US Colonial Pipeline 2 LLC6.450% 05/01/20210.2%
SLC Student Loan Trust 2008-14.010% 12/15/20320.2%
Ohio Edison Co.8.250% 10/15/20380.2%
ICG US CLO 2015-2 Ltd3.172% 01/16/20280.2%
AerCap Ireland Capital Ltd.3.500% 01/15/20250.2%
JPMBB Commercial Mortgage Securities Trust4.269% 07/15/20480.2%
AT&T, Inc.6.250% 03/29/20410.2%
Hardee's Funding LLC4.959% 06/20/20480.2%
AmeriCredit Automobile Receivables Trust 2015-23.000% 06/08/20210.2%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor3.337% 12/15/20270.2%
Drive Auto Receivables Trust 2019-32.630% 09/15/20220.2%
DLL 2018-2 LLC3.140% 10/20/20200.2%
Perimeter Master Note Business Trust4.310% 12/15/20220.2%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.2%
Dell International LLC / EMC Corp.8.350% 07/15/20460.2%
Perusahaan Listrik Negara PT3.875% 07/17/20290.2%
Drive Auto Receivables Trust 2018-24.140% 08/15/20240.2%
JFIN CLO 2014 Ltd3.728% 04/21/20250.2%
TAL Advantage VI LLC4.500% 04/20/20420.2%
WhiteHorse VIII Ltd3.479% 05/01/20260.2%
Glencore Finance Canada Ltd.5.550% 10/25/20420.2%
Hudsons Bay Simon JV Trust4.666% 08/05/20340.2%
Electricite de France SA5.000% 09/21/20480.2%
Capital One Multi-Asset Execution Trust1.330% 06/15/20220.2%
AerCap Ireland Capital Ltd.3.875% 01/23/20280.2%
Kerr-McGee Corp.7.875% 09/15/20310.2%
Oracle Corp.6.125% 07/08/20390.2%
WEA Finance LLC3.500% 06/15/20290.2%
Aqua America, Inc.3.566% 05/01/20290.2%
Boeing Co.3.250% 02/01/20350.2%
California Republic Auto Receivables Trust 2018-13.560% 03/15/20230.2%
Wells Fargo Bank, N.A.6.600% 01/15/20380.2%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.2%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.2%
Dell International LLC / EMC Corp6.020% 06/15/20260.2%
American Credit Acceptance Receivables Trust 2019-3.050% 05/12/20230.2%
BAT Capital Corp3.557% 08/15/20270.2%
Hudsons Bay Simon JV Trust5.159% 08/05/20340.2%
Ares XLI Clo Ltd4.103% 01/15/20290.2%
CIFC Funding 2017-I Ltd3.638% 04/23/20290.2%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.1%
DRB Prime Student Loan Trust3.200% 01/25/20400.1%
Americredit Automobile Receivables Trust 2019-12.560% 06/20/20220.1%
TPG Real Estate Finance 2018-FL2 Issuer LTD3.444% 11/15/20370.1%
Palmer Square Loan Funding 2018-1 Ltd2.903% 04/15/20260.1%
Saudi Arabian Oil Co2.875% 04/16/20240.1%
SURA Asset Management SA4.875% 04/17/20240.1%
Drive Auto Receivables Trust3.720% 09/16/20240.1%
Dominion Gas Holdings LLC4.600% 12/15/20440.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.625% 01/15/20240.1%
Orec 2018-CRE1 Ltd3.505% 06/15/20360.1%
DBWF 2018-GLKS Mortgage Trust3.328% 11/19/20350.1%
GS Mortgage Securities Corp Trust 2018-FBLU3.275% 11/15/20350.1%
Foursight Capital Automobile Receivables Trust 2013.240% 09/15/20220.1%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.1%
Wells Fargo Commercial Mortgage Trust4.112% 05/15/20480.1%
Discover Card Execution Note Trust1.390% 03/15/20220.1%
Schlumberger Holdings Corp.4.300% 05/01/20290.1%
Towd Point Asset Trust 2018-SL13.004% 01/25/20460.1%
Chesapeake Funding II LLC1.910% 08/15/20290.1%
Drive Auto Receivables Trust3.040% 11/15/20210.1%
Drive Auto Receivables Trust 2017-15.170% 09/16/20240.1%
Palmer Square Loan Funding 2018-5 Ltd3.128% 01/20/20270.1%
World Omni Select Auto Trust 2018-13.240% 04/15/20220.1%
UBS AG Registered Shares5.125% 05/15/20240.1%
Americredit Automobile Receivables Trust 2019-12.930% 06/20/20220.1%
Bank of America Corp.4.000% 01/22/20250.1%
Daimler Finance North America LLC3.750% 02/22/20280.1%
Barclays Dryrock Issuance Trust2.410% 07/15/20220.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Pennsylvania Electric Co.3.600% 06/01/20290.1%
Jamestown CLO IX Ltd0.000% 10/20/20280.1%
Longtrain Leasing III LLC 2015-14.060% 01/15/20450.1%
ME Funding LLC 2019-16.448% 07/30/20490.1%
CarMax Auto Owner Trust2.880% 10/15/20210.1%
Willis North America, Inc.7.000% 09/29/20190.1%
American Credit Acceptance Receivables Trust 2018-3.380% 12/13/20210.1%
Statoil ASA7.150% 11/15/20250.1%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.1%
Federal Home Loan Mortgage Corp.2.244% 02/25/20320.1%
JP Morgan Chase Commercial Mortgage Securities Tru4.425% 06/15/20320.1%
Synchrony Credit Card Master Note Trust1.580% 09/15/20220.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
Walt Disney Co/The7.750% 12/01/20450.1%
Carnival plc7.875% 06/01/20270.1%
KVK CLO 2016-1 Ltd5.453% 01/15/20290.1%
Chase Issuance Trust1.580% 08/15/20210.1%
Sound Point Clo XII Ltd4.878% 10/20/20280.1%
JPMorgan Chase & Co.3.540% 05/01/20280.1%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.1%
Wells Fargo Commercial Mortgage Trust 2016-NXS54.876% 01/15/20590.1%
Citigroup, Inc.4.450% 09/29/20270.1%
Avery Point VII CLO Ltd4.053% 01/15/20280.1%
Government National Mortgage Association2.700% 07/16/20570.1%
Chesapeake Funding II LLC1.880% 06/15/20280.1%
South Carolina Electric & Gas Co.6.050% 01/15/20380.1%
Capital Auto Receivables Asset Trust 2018-23.690% 12/20/20230.1%
Westlake Automobile Receivables Trust 2018-12.670% 05/17/20210.1%
Mountain View CLO X Ltd3.653% 10/13/20270.1%
Flagship Credit Auto Trust 2018-33.590% 12/16/20240.1%
Jamestown CLO VII Ltd.4.876% 07/25/20270.1%
Vistra Operations Co LLC4.300% 07/15/20290.1%
Towd Point Asset Trust 2018-SL13.241% 12/25/20480.1%
U.S. Treasury Note/Bond2.875% 10/31/20200.1%
COMM Mortgage Trust4.440% 07/10/20500.1%
GS Mortgage Securities Corp Trust 2018-RIVR3.275% 07/15/20350.1%
First Investors Auto Owner Trust2.410% 12/15/20220.1%
Banco de Credito e Inversiones3.500% 10/12/20270.1%
Entergy Texas, Inc.4.000% 03/30/20290.1%
EPR Properties4.950% 04/15/20280.1%
Goldman Sachs Group, Inc.4.223% 05/01/20290.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Textainer Marine Containers VII Ltd3.960% 04/20/20440.1%
Westlake Automobile Receivables Trust 2019-23.200% 11/15/20240.1%
CNAC HK Finbridge Co Ltd3.500% 07/19/20220.1%
Piedmont Natural Gas Co., Inc.3.500% 06/01/20290.1%
Santander Drive Auto Receivables Trust 2015-23.020% 04/15/20210.1%
Genesis Sales Finance Master Trust Series 2019-A4.680% 08/20/20230.1%
Halliburton Co.6.700% 09/15/20380.1%
General Electric Co.2.945% 05/05/20260.1%
Neuberger Berman Group LLC4.500% 03/15/20270.1%
Palmer Square Loan Funding 2017-1 Ltd4.003% 10/15/20250.1%
AbbVie, Inc.4.875% 11/14/20480.1%
Cedar Funding VI CLO Ltd3.878% 10/20/20280.1%
Interstate Power & Light Co3.600% 04/01/20290.1%
Americredit Automobile Receivables Trust 2018-33.110% 01/18/20220.1%
California Republic Auto Receivables Trust 2018-12.860% 03/15/20210.1%
Americredit Automobile Receivables Trust 2018-32.550% 01/18/20220.1%
Drive Auto Receivables Trust4.160% 05/15/20240.1%
Government National Mortgage Association2.700% 04/16/20570.1%
Atrium Hotel Portfolio Trust 2018-ATRM3.275% 06/15/20350.1%
Navient Private Education Refi Loan Trust 2018-D4.000% 12/15/20590.1%
First Investors Auto Owner Trust 2018-23.230% 12/15/20220.1%
Sound Point Clo XV Ltd4.759% 01/23/20290.1%
AT&T, Inc.6.000% 08/15/20400.1%
Oklahoma Gas and Electric3.300% 03/15/20300.1%
Massachusetts Educational Financing Authority3.226% 04/25/20380.1%
Government National Mortgage Association2.600% 07/16/20580.1%
Morgan Stanley3.625% 01/20/20270.1%
PFS Financing Corp.3.080% 02/15/20230.1%
Shackleton 2016-IX CLO Ltd4.178% 10/20/20280.1%
General Electric Co.6.150% 08/07/20370.1%
Entergy Louisiana LLC4.000% 03/15/20330.1%
Interest Rate Swap0.000% 04/01/20210.1%
Bank of America Corp.4.450% 03/03/20260.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.415% 11/15/20350.1%
Avery Point VII CLO Ltd4.753% 01/15/20280.1%
CPS Auto Receivables Trust 2018-B4.260% 03/15/20240.1%
Foursight Capital Automobile Receivables Trust 2013.530% 04/17/20230.1%
EPR Properties4.750% 12/15/20260.1%
Palmer Square Loan Funding 2018-1 Ltd3.353% 04/15/20260.1%
Regatta VI Funding Ltd4.328% 07/20/20280.1%
Ares XXIX CLO Ltd.3.493% 04/17/20260.1%
Flagship Credit Auto Trust 2018-12.590% 06/15/20220.1%
Wheels SPV 2 LLC3.060% 04/20/20270.1%
Cleco Corp.4.973% 05/01/20460.1%
Qatar Government International Bond5.103% 04/23/20480.1%
Abu Dhabi Crude Oil Pipeline LLC4.600% 11/02/20470.1%
Northern Natural Gas4.300% 01/15/20490.1%
CPS Auto Trust2.870% 09/15/20210.1%
Citigroup Commercial Mortgage Trust1.183% 05/10/20470.1%
Chesapeake Funding II LLC1.990% 05/15/20290.1%
PHEAA Student Loan Trust I2.546% 04/25/20380.1%
Drive Auto Receivables Trust3.340% 09/15/20220.1%
BMW Vehicle Owner Trust 2018-A2.090% 11/25/20200.1%
Diamond Resorts Owner Trust4.110% 10/22/20290.1%
JB y Co SA de CV3.750% 05/13/20250.1%
Westgate Resorts 2018-1 LLC3.380% 12/20/20310.1%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The3.175% 01/15/20330.1%
South Carolina Electric & Gas Co.6.625% 02/01/20320.1%
Affiliated Managers Group, Inc.4.250% 02/15/20240.1%
Bayer Corp6.650% 02/15/20280.1%
Flagship Credit Auto Trust 2017-32.590% 07/15/20220.1%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.1%
CPS Auto Receivables Trust 2018-A2.770% 04/18/20220.1%
Drive Auto Receivables Trust 2018-53.080% 07/15/20210.1%
Avery Point CLO Ltd.3.876% 04/25/20260.1%
Enterprise Fleet Financing LLC2.870% 10/20/20230.1%
Minejesa Capital BV4.625% 08/10/20300.1%
GS Mortgage Securities Trust4.410% 07/10/20480.1%
Adani Ports & Special Economic Zone Ltd4.000% 07/30/20270.1%
AmeriCredit Automobile Receivables Trust 2016-22.210% 05/10/20210.1%
Palmer Square Loan Funding 2018-1 Ltd3.703% 04/15/20260.1%
CPS Auto Trust3.430% 07/15/20220.1%
Neuberger Berman Group LLC4.875% 04/15/20450.1%
Government National Mortgage Association2.900% 02/16/20530.0%
Pennsylvania5.350% 05/01/20300.0%
Empresas Publicas de Medellin ESP4.250% 07/18/20290.0%
Universal Health Services, Inc.5.000% 06/01/20260.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
COMM Mortgage Trust4.440% 07/10/20500.0%
Madison Park Funding XXI Ltd3.806% 07/25/20290.0%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.0%
Santander UK plc5.000% 11/07/20230.0%
Drive Auto Receivables Trust 2018-52.645% 07/15/20210.0%
Drive Auto Receivables Trust3.010% 11/15/20210.0%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.0%
Mexichem SAB de CV4.875% 09/19/20220.0%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.0%
WFRBS Commercial Mortgage Trust0.593% 10/15/20570.0%
CPS Auto Receivables Trust6.580% 03/15/20220.0%
AT&T, Inc.6.100% 07/15/20400.0%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.0%
Foursight Capital Automobile Receivables Trust 2012.850% 08/16/20210.0%
OneMain Financial Issuance Trust 2016-1A3.660% 02/20/20290.0%
Ascentium Equipment Receivables 2016-2 Trust2.500% 09/12/20220.0%
Apidos CLO XVI5.303% 01/19/20250.0%
Drive Auto Receivables Trust3.020% 11/15/20210.0%
WFRBS Commercial Mortgage Trust0.307% 10/15/20570.0%
Delphi Automotive plc4.350% 03/15/20290.0%
Chrysler Capital Auto Receivables Trust 2016-A2.880% 06/15/20220.0%
Palmer Square Loan Funding 2018-5 Ltd3.678% 01/20/20270.0%
Galaxy XXI CLO Ltd3.298% 04/20/20310.0%
Danske Bank A/S4.375% 06/12/20280.0%
Drive Auto Receivables Trust 2017-22.750% 09/15/20230.0%
Santander Drive Auto Receivables Trust 2017-32.760% 12/15/20220.0%
Foursight Capital Automobile Receivables Trust 2013.680% 08/15/20230.0%
Halcyon Loan Advisors Funding Ltd.4.426% 07/25/20270.0%
Dayton Power & Light Co.3.950% 06/15/20490.0%
American Credit Acceptance Receivables Trust 2016-6.090% 05/12/20220.0%
California Republic Auto Receivables Trust2.700% 09/15/20210.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
Chrysler Capital Auto Receivables Trust 2016-A3.250% 06/15/20220.0%
Enterprise Fleet Financing LLC2.130% 07/20/20220.0%
Sequoia Mortgage Trust 2012-42.069% 09/25/20420.0%
TCI-Symphony CLO 2016-1 Ltd4.077% 10/13/20290.0%
Ascentium Equipment Receivables 2017-1 Trust2.290% 06/10/20210.0%
Carmax Auto Owner Trust1.390% 05/17/20210.0%
Csail Commercial Mortgage Trust4.202% 06/15/20570.0%
WFRBS Commercial Mortgage Trust0.974% 05/15/20470.0%
Flagship Credit Auto Trust 2017-31.880% 10/15/20210.0%
Daimler Trucks Retail Trust 2018-12.600% 05/15/20200.0%
SFAVE Commercial Mortgage Securities Trust4.144% 01/05/20430.0%
Mercedes-Benz Auto Receivables Trust 2016-11.260% 02/16/20210.0%
Foursight Capital Automobile Receivables Trust 2012.870% 10/15/20210.0%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.0%
Mercedes-Benz Auto Lease Trust 2018-A2.200% 04/15/20200.0%
Nissan Auto Receivables 2016-A Owner Trust1.340% 10/15/20200.0%
Government National Mortgage Association2.200% 04/16/20470.0%
COMM Mortgage Trust1.085% 08/10/20470.0%
Diamond Resorts Owner Trust3.080% 11/20/20280.0%
First Investors Auto Owner Trust 2017-21.860% 10/15/20210.0%
SLM Private Education Loan Trust5.575% 05/16/20440.0%
Flagship Credit Auto Trust 2017-21.850% 07/15/20210.0%
California Republic Auto Receivables Trust 2017-11.900% 03/15/20210.0%
Ascentium Equipment Receivables 2016-2 Trust1.650% 05/10/20220.0%
OneMain Financial Issuance Trust 2016-25.940% 03/20/20280.0%
JPMBB Commercial Mortgage Securities Trust0.797% 04/15/20470.0%
WFRBS Commercial Mortgage Trust0.573% 05/15/20470.0%
Santander Drive Auto Receivables Trust 2015-42.970% 03/15/20210.0%
Federal National Mortgage Assoc.6.500% 01/01/20360.0%
JPMBB Commercial Mortgage Securities Trust0.303% 04/15/20470.0%
Drive Auto Receivables Trust2.610% 08/16/20210.0%
US 10YR ULTRA FUT SEP190.000% 09/30/20190.0%
US LONG BOND(CBT) SEP190.000% 09/30/20190.0%
US ULTRA BOND CBT SEP190.000% 09/30/20190.0%
US 2YR NOTE (CBT) SEP190.000% 10/03/20190.0%
US 5YR NOTE (CBT) SEP190.000% 10/03/20190.0%
Interest Rate Swap0.000% 06/07/20210.0%
Interest Rate Swap2.404% 04/01/2029-0.1%

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 09/20/2019
$0.223
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 08/31/2019 $0.02715 $11.41
Daily Daily 07/31/2019 $0.02617 $11.15
Daily Daily 06/30/2019 $0.02658 $11.14
Daily Daily 05/31/2019 $0.02910 $11.04
Daily Daily 04/30/2019 $0.02848 $10.88
Daily Daily 03/31/2019 $0.03174 $10.90
Daily Daily 02/28/2019 $0.02545 $10.73
Daily Daily 01/31/2019 $0.02871 $10.76

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 09/30/2019
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/17/2015 12/18/2015 $0.0064 $0.0168 $0.0232 $10.83
*

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

Record Date Ex-Dividend Date
12/17/2019 12/18/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2019

0.87%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
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
Flyer
Publish Date:11/03/2015
Publish Date:11/03/2015
Flyer
Publish Date:11/03/2015

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional 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 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 yield reflects 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.

Class P - Performance is shown at net asset value (NAV). Class P shares are not subject to front-end or back-end sales charges.

Class P shares are only available on a limited basis through certain financial intermediaries and retirement and benefit plans. 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 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. 

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.

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