LCRPX | Core Fixed Income Fund Class P | 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.

 

Fund Basicsas of 09/30/2020

Total Net Assets
$2.02 B
Inception Date
Dividend Frequency
-
Number of Holdings
458
Type Assets
U.S. Government Related
MBS
ABS
CMBS
Corporates
Sovereign
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 09/30/2020 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-Director of Taxable Fixed Income

29 Years of Industry Experience

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

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Performance

Performance

Portfolio

Portfolio

Rating Assets
U.S. Government Related
MBS
ABS
CMBS
Corporates
Sovereign
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 09/30/2020

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

Portfolio Positioning as of 6/30/2020

  • Over the quarter the largest change in the portfolio composition was a decrease in the U.S. Treasury allocation. With rates rallying in the first quarter as investors flocked into Treasuries and moved out of corporate credit, we saw an opportunity to sell Treasuries in order to seek to take advantage of attractive relative value in risk-on sectors.
  • We used the proceeds from sales of U.S. Treasuries and added to the portfolio’s allocation to investment grade corporate credit. Most notably, we added to corporate issues within consumer non-cyclical and technology sectors. We believe these sectors will continue to benefit from the gradual re-opening of the economy.
  • We believe valuations currently are fair given an expected resumption of economic activity in 2021, albeit a slow and modest one. We believe that the environment that the Fed has created of low volatility and perpetually lower rates will be supportive of a search-for-yield environment where spread valuations can tighten further.

Portfolio Details as of 09/30/2020

Total Net Assets
$2.02 B
Number of Issues
458
Average Coupon
2.73%
Average Life
7.63 Years
Average Maturity
7.63 Years
Average Effective Duration
6.03 Years

Dividends & Cap Gains

Dividends & Cap Gains

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
10/01/2020 10/31/2020 10/31/2020
11/01/2020 11/30/2020 11/30/2020
12/01/2020 12/31/2020 12/31/2020

Fees & Expenses

Fees & Expenses

Fund Documents

Fund Documents

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0Documents selected
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Summary Prospectus
Publish Date:11/03/2015
n/a
Statutory Prospectus
Publish Date:11/03/2015
n/a
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
Publish Date:11/03/2015

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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.

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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