LCRPX | Core Fixed Income Fund Class P | Lord Abbett

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(as of 12/05/2015)

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Core Fixed Income Fund

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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 05/31/2022

Total Net Assets
$1.76 B
Inception Date
Dividend Frequency
-
Number of Holdings
317
Type Assets
U.S. Government Related
MBS
ABS
Sovereign
CMBS
CLO
Bank Loans
Corporates
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 05/31/2022 View Portfolio

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

Investment Team

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

28 Years of Industry Experience

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

Partner & Portfolio Manager

24 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

31 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

14 Years of Industry Experience

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

Partner & Portfolio Manager

21 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

22 Years of Industry Experience

Supported By 69 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Portfolio

Portfolio

Rating Assets
U.S. Government Related
MBS
ABS
Sovereign
CMBS
CLO
Bank Loans
Corporates
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 05/31/2022

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

Portfolio Positioning as of 3/31/2022

  • Over the quarter, we added to the portfolio’s bank loan allocation as we continue to favor floating rate credit risk. We believe the asset class will continue to benefit from strong fundamentals and robust technicals.
  • We added to agency mortgage-backed securities (MBS) over the quarter - closing some of our underweight relative to the benchmark and peers. This decision was a relative value trade on recent weakness/underperformance of agency MBS versus other fixed income sectors. However, we plan on remaining underweight agency MBS as the technical backdrop is poor for the asset class given the Fed is likely to shift from a net buyer to net seller by year end.
  • In addition, we added to non-agency RMBS - both non-qualified mortgages and credit risk transfer securities (CRT). We believe strong buyer and refi activity will continue supporting the non-QM market. Also, CRT securities provide a liquid source to gain residential housing credit exposure through mortgages that have been underwritten by government sponsored entities (GSE). Both allocations provide strong risk-adjusted carry, in our opinion.
  • We used the sales of high-quality asset-backed securities (ABS) to fund the purchases of these additions over the quarter.

Portfolio Details as of 05/31/2022

Total Net Assets
$1.76 B
Number of Issues
317
Average Coupon
2.88%
Average Life
8.02 Years
Average Maturity
8.02 Years
Average Effective Duration
6.55 Years

Dividends & Cap Gains

Dividends & Cap Gains

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
06/01/2022 06/30/2022 06/30/2022
07/01/2022 07/31/2022 07/31/2022
08/01/2022 08/31/2022 08/31/2022
09/01/2022 09/30/2022 09/30/2022
10/01/2022 10/31/2022 10/31/2022
11/01/2022 11/30/2022 11/30/2022
12/01/2022 12/31/2022 12/31/2022

Fees & Expenses

Fees & Expenses

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
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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
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Publish Date:11/03/2015

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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. 

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