LCRSX | Core Fixed Income Fund Class R4 | Lord Abbett

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Core Fixed Income Fund

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Daily price w/o sales charge as of 11/29/2023

$9.11

arrowUp$0.05

YTD Returns w/o sales charge as of 11/29/2023

2.32%

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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.

Yield

Average Yield to Maturity as of 10/31/2023

6.14%

30-Day Standardized Yield 1 as of 10/31/2023  

5.12%

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Fund Basicsas of 10/31/2023

Total Net Assets
$3.00 B
Inception Date
06/30/2015
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.62%
Fund Net Expense Ratio
0.62%
Number of Holdings
448

Fund Expense Ratio :

Gross 0.62%

Net 0.62%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge -2.31% 0.51% -5.37% -0.19% 0.69% 3.76%
Lipper Category Avg. Core Bond Funds -2.44% 0.63% -5.31% -0.05% 0.84% -
Bloomberg U.S. Aggregate Bond Index -2.77% 0.36% -5.57% -0.06% 0.88% -
w/ sales charge -2.31% 0.51% -5.37% -0.19% 0.69% 3.76%

Fund Expense Ratio :

Gross 0.62%

Net 0.62%

Fund Expense Ratio :

Gross 0.62%

Net 0.62%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge -0.91% 0.61% -5.05% -0.07% 0.92% 3.83%
Lipper Category Avg. Core Bond Funds -0.81% 0.93% -4.90% 0.11% 1.11% -
Bloomberg U.S. Aggregate Bond Index -1.21% 0.64% -5.21% 0.10% 1.13% -

Fund Expense Ratio :

Gross 0.62%

Net 0.62%

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
CLO
CMBS
Sovereign
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 10/31/2023 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

Partner, Portfolio Manager

23 Years of Industry Experience

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

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Performance

Performance

Average Yield to Maturity as of 10/31/2023

6.14%

30-Day Standardized Yield 1 as of 10/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 5.12% 5.12%

Fund Expense Ratio :

Gross 0.62%

Net 0.62%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge -2.31% 0.51% -5.37% -0.19% 0.69% 3.76%
Lipper Category Avg. Core Bond Funds -2.44% 0.63% -5.31% -0.05% 0.84% -
Bloomberg U.S. Aggregate Bond Index -2.77% 0.36% -5.57% -0.06% 0.88% -
w/ sales charge -2.31% 0.51% -5.37% -0.19% 0.69% 3.76%

Fund Expense Ratio :

Gross 0.62%

Net 0.62%

Fund Expense Ratio :

Gross 0.62%

Net 0.62%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 03/16/1998
w/o sales charge -0.91% 0.61% -5.05% -0.07% 0.92% 3.83%
Lipper Category Avg. Core Bond Funds -0.81% 0.93% -4.90% 0.11% 1.11% -
Bloomberg U.S. Aggregate Bond Index -1.21% 0.64% -5.21% 0.10% 1.13% -

Fund Expense Ratio :

Gross 0.62%

Net 0.62%

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 -13.78% -13.01%
2021 -0.93% -1.54%
2020 7.97% 7.51%
2019 7.79% 8.72%
2018 -0.57% 0.01%
2017 3.20% 3.54%
2016 2.68% 2.65%
2015 -0.57% 0.55%
2014 6.08% 5.97%
2013 -2.24% -2.02%
2012 5.69% -
2011 7.55% -
2010 6.63% -
2009 12.60% -
2008 1.22% -
2007 6.34% -
2006 3.98% -
2005 2.15% -
2004 4.10% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 3.08% -0.97% - - 2.32%
2022 -5.85% -5.21% -4.84% 1.53% -13.78%
2021 -2.73% 1.88% -0.04% 0.01% -0.93%
2020 1.71% 3.61% 1.32% 1.13% 7.97%
2019 2.82% 2.97% 2.03% -0.22% 7.79%
2018 -1.49% -0.35% 0.11% 1.18% -0.57%
2017 0.84% 1.30% 0.74% 0.28% 3.20%
2016 2.65% 2.36% 0.74% -3.00% 2.68%
2015 1.35% -1.67% 0.62% -0.85% -0.57%
2014 2.08% 2.16% 0.11% 1.60% 6.08%
2013 0.07% -2.74% 0.35% 0.09% -2.24%
2012 1.01% 2.14% 1.96% 0.47% 5.69%
2011 0.57% 2.18% 3.45% 1.17% 7.55%
2010 2.08% 3.22% 2.56% -1.33% 6.63%
2009 2.43% 3.98% 5.45% 0.26% 12.60%
2008 1.21% -0.05% -1.25% 1.32% 1.22%
2007 1.48% -0.81% 2.89% 2.67% 6.34%
2006 -0.54% -0.24% 3.67% 1.08% 3.98%
2005 -0.27% 2.90% -0.87% 0.41% 2.15%
2004 - - - 1.08% 4.10%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
MBS
U.S. Government Related
ABS
CLO
CMBS
Sovereign
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 10/31/2023

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

Portfolio Positioning as of 3/31/2023

  • During the quarter we maintained the Strategy’s overall up-in-quality and up-in-liquidity positioning and remained down in cyclicality and complexity.
  • Over the quarter, the portfolio predominantly benefitted from an overweight allocation as well as positive security selection within investment grade corporate bonds. Specifically, the Strategy’s conservative positioning, including an underweight to smaller regional banks and an overweight to insurance companies and large money centers drove positive performance relative to the benchark. The portfolio’s bank holdings are generally issued by institutions with strong deposit franchises, robust credit cultures, and strong management teams. We continued to reduce lower quality corporate bonds and increase the investment grade corporate allocation over the period. We added to Healthcare and Financials at what we believe to be attractive levels following the banking turmoil. 
  • An allocation to securitized credit – specifically CMBS, ABS, and CLO – had a positive impact on relative returns. High quality securitized credit outperformed both investment grade corporate bonds and government-related securities as the asset class provides superior risk-adjusted yields at the top of the credit stack.
  • Despite headline risk, the portfolio’s allocation to high-quality AAA-rated CMBS contributed as certain property types rebounded from challenged performance in the fourth quarter of last year, including hotel backed SASB deals and multi-family CRE CLO, both of which are overweight positions within the portfolio’s CMBS book. That said, we continued to reduce the portfolio’s exposure to CMBS over the quarter as we have been over the last few quarters. 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 and the portfolio’s exposure remains low relative to this time last year.
  • Another contributor to performance was the portfolio’s allocation to short-term, AAA-rated ABS as the asset class outperformed the broader index and corporate credit. Within the sector, we have identified issues that demonstrate robust credit fundamentals, including well behaved delinquency/loss trends, consistent collateral quality, and strong stress tested structures. We are particularly constructive on auto-loans and have predominantly allocated to this subsector within the broader ABS allocation.
  • The portfolio’s modest allocation to CLO also contributed to relative returns given the attractive carry profile of the sector. While we’re comfortable with the credit profile of the portfolio’s CLO holdings, we decreased exposure over the quarter, as we monetized attractive valuations and continue to shift to a highly liquid portfolio profile and are very selective with respect to spread targets when adding.
  • Duration positioning was a meaningful detractor from performance over the quarter. Being underweight duration versus the benchmark detracted as the 5-year and 10-year U.S. Treasury rates rallied during the period. Our preference is to underweight the belly of the curve (5s and 10s) and overweight the wings (2s and 30s). 
  • We added TIPS to the portfolio over the quarter. This addition was made to express the team’s view that the market may be underestimating the potential for higher inflation for longer

Portfolio Details as of 10/31/2023

Total Net Assets
$3.00 B
Average Effective Duration
5.65 Years
Average Life
8.06 Years
Average Maturity
8.06 Years
Number of Issues
448
Average Yield to Maturity
6.14%

To view definitions for the above Portfolio Details, Click here.

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
United States Treasury Note/Bond 5.000% 08/31/2025 7.0%
United States Treasury Note/Bond 4.375% 08/15/2043 4.2%
United States Treasury Note/Bond 4.000% 06/30/2028 3.2%
30-YR GNMA II-TBA PROD DEC 6.000% 08/01/2053 2.4%
30-YR GNMA II-TBA PROD DEC 5.500% 07/01/2053 2.1%
United States Treasury Note/Bond 4.375% 08/15/2026 2.1%
30-YR UMBS-TBA PROD DEC 6.000% 07/01/2053 2.0%
30-YR GNMA II-TBA PROD DEC 6.500% 10/01/2052 2.0%
30-YR GNMA II-TBA PROD DEC 5.000% 08/01/2053 1.8%
United States Treasury Note/Bond 4.125% 08/15/2053 1.5%
% of Total Assets 28.3%
Holding Coupon Maturity Assets
United States Treasury Note/Bond5.000% 08/31/20255.0%
United States Treasury Note/Bond4.375% 08/15/20434.4%
BARCLAYS CAPITAL0.010% 10/02/20234.3%
United States Treasury Note/Bond4.000% 06/30/20283.2%
30-YR GNMA II-TBA PROD NOV5.500% 07/01/20532.6%
30-YR GNMA II-TBA PROD NOV6.000% 06/01/20532.5%
30-YR GNMA II-TBA PROD NOV6.500% 02/01/20532.2%
United States Treasury Note/Bond4.625% 06/30/20252.1%
United States Treasury Inflation Indexed Bonds0.375% 07/15/20252.0%
United States Treasury Note/Bond4.125% 08/15/20531.6%
United States Treasury Bill0.000% 12/05/20231.5%
United States Treasury Bill0.000% 11/24/20231.5%
30-YR UMBS-TBA PROD NOV6.000% 07/01/20531.3%
United States Treasury Note/Bond1.125% 08/15/20401.3%
Svensk Exportkredit AB4.875% 09/14/20261.3%
United States Treasury Note/Bond4.250% 05/31/20251.3%
30-YR GNMA II-TBA PROD NOV5.000% 07/01/20531.3%
30-YR UMBS-TBA PROD NOV5.500% 05/01/20531.2%
30-YR GNMA II-TBA PROD NOV3.000% 01/01/20521.2%
15-YR UMBS-TBA PROD NOV5.000% 04/01/20381.2%
15-YR UMBS-TBA PROD NOV5.500% 05/01/20381.0%
15-YR UMBS-TBA PROD NOV6.000% 04/01/20381.0%
Capital One Multi-Asset Execution Trust3.490% 05/15/20271.0%
Brookfield Infrastructure Holdings Canada Inc0.000% 10/26/20231.0%
30-YR GNMA II-TBA PROD NOV4.500% 06/01/20530.9%
30-YR UMBS-TBA PROD OCT6.000% 07/01/20530.9%
JPMorgan Chase & Co3.782% 02/01/20280.8%
30-YR GNMA II-TBA PROD OCT5.000% 07/01/20530.8%
United States Treasury Note/Bond4.375% 08/15/20260.8%
United States Treasury Note/Bond1.875% 11/15/20510.8%
American Express Credit Account Master Trust5.150% 09/16/20300.8%
Svensk Exportkredit AB4.875% 10/04/20300.7%
30-YR UMBS-TBA PROD NOV5.000% 05/01/20530.6%
30-YR UMBS-TBA PROD NOV3.000% 01/01/20520.6%
CDP Financial Inc4.250% 07/25/20280.5%
Citizens Auto Receivables Trust 2023-25.830% 02/15/20280.5%
East Ohio Gas Co/The1.300% 06/15/20250.5%
Fannie Mae Pool2.500% 08/01/20500.5%
Ford Credit Auto Owner Trust 2018-REV13.190% 07/15/20310.5%
Danske Bank A/S6.259% 09/22/20260.5%
Kommunalbanken AS0.250% 12/08/20230.5%
Wells Fargo & Co2.406% 10/30/20250.5%
Bank of America Corp3.970% 03/05/20290.5%
United States Treasury Note/Bond2.250% 05/15/20410.5%
Fannie Mae Pool2.500% 09/01/20500.5%
30-YR GNMA II-TBA PROD NOV4.000% 07/01/20520.5%
Santander Drive Auto Receivables Trust 2022-64.720% 06/15/20270.5%
Fannie Mae Pool3.000% 12/01/20480.5%
Bank of America Corp3.458% 03/15/20250.4%
T-Mobile USA Inc3.875% 04/15/20300.4%
Oracle Corp6.250% 11/09/20320.4%
Hilton Worldwide Finance LLC7.170% 06/22/20260.4%
Citigroup Inc3.980% 03/20/20300.4%
30-YR UMBS-TBA PROD OCT6.500% 08/01/20530.4%
EQT Corp7.000% 02/01/20300.4%
National Fuel Gas Co3.950% 09/15/20270.4%
Exeter Automobile Receivables Trust 2023-36.110% 09/15/20250.4%
15-YR UMBS-TBA PROD DEC6.000% 04/01/20380.4%
Synchrony Card Funding LLC5.540% 07/15/20290.4%
Merck & Co Inc2.150% 12/10/20310.4%
Citibank NA5.864% 09/29/20250.4%
30-YR UMBS-TBA PROD OCT5.500% 05/01/20530.4%
Flagship Credit Auto Trust 2022-34.550% 04/15/20270.4%
Charter Communications Operating LLC7.101% 04/30/20250.4%
GE HealthCare Technologies Inc5.650% 11/15/20270.4%
Pfizer Investment Enterprises Pte Ltd4.750% 05/19/20330.4%
HPEFS Equipment Trust 2023-26.040% 01/21/20310.4%
Continental Resources Inc/OK5.750% 01/15/20310.4%
Barclays PLC3.932% 05/07/20250.4%
Charter Communications Operating LLC7.101% 02/01/20270.4%
Morgan Stanley4.431% 01/23/20300.4%
30-YR GNMA II-TBA PROD OCT4.500% 06/01/20530.4%
OCP Clo 2019-17 Ltd6.628% 07/20/20320.4%
IPALCO Enterprises Inc4.250% 05/01/20300.4%
CVS Health Corp3.250% 08/15/20290.4%
BlackRock Inc4.750% 05/25/20330.4%
Centene Corp3.375% 02/15/20300.4%
nVent Finance Sarl4.550% 04/15/20280.4%
CenterPoint Energy Houston Electric LLC5.200% 10/01/20280.4%
Avolon Holdings Funding Ltd5.250% 05/15/20240.3%
30-YR UMBS-TBA PROD OCT5.000% 05/01/20530.3%
JPMorgan Chase & Co3.845% 06/14/20250.3%
Freddie Mac Pool2.000% 03/01/20510.3%
Humana Inc5.875% 03/01/20330.3%
AT&T Inc5.400% 02/15/20340.3%
Avant Loans Funding Trust 2022-REV16.540% 09/15/20310.3%
UBS Group AG4.988% 08/05/20330.3%
Fannie Mae Pool2.500% 08/01/20500.3%
Citigroup Commercial Mortgage Trust 2023-PRM36.572% 07/10/20280.3%
Connecticut Avenue Securities Trust 2023-R027.615% 01/25/20430.3%
Fannie Mae Pool2.000% 07/01/20510.3%
UBS Group AG6.442% 08/11/20280.3%
Sprint Capital Corp8.750% 03/15/20320.3%
Magnetite XXXIX Ltd7.546% 10/25/20330.3%
International Flavors & Fragrances Inc1.230% 10/01/20250.3%
Citigroup Inc2.666% 01/29/20310.3%
Fannie Mae Pool2.500% 09/01/20510.3%
Japan Bank for International Cooperation4.625% 07/19/20280.3%
Kentucky Utilities Co5.450% 04/15/20330.3%
NatWest Group PLC7.472% 11/10/20260.3%
30-YR UMBS-TBA PROD OCT3.500% 06/01/20520.3%
Crown Castle Inc3.300% 07/01/20300.3%
Centene Corp2.450% 07/15/20280.3%
National Grid PLC5.809% 06/12/20330.3%
Goldman Sachs Group Inc/The3.272% 09/29/20250.3%
Electricite de France SA6.250% 05/23/20330.3%
30-YR UMBS-TBA PROD NOV2.500% 07/01/20510.3%
Avolon Holdings Funding Ltd2.125% 02/21/20260.3%
Dell Equipment Finance Trust 2023-25.840% 01/22/20290.3%
American Transmission Systems Inc2.650% 01/15/20320.3%
Continental Finance Credit Card ABS Master Trust2.240% 12/15/20280.3%
Carlyle Global Market Strategies CLO 2014-5 Ltd6.710% 07/15/20310.3%
Westlake Automobile Receivables Trust 2023-15.210% 01/18/20280.3%
Duke Energy Corp4.500% 08/15/20320.3%
American Tower Corp3.800% 08/15/20290.3%
GCAT 2023-NQM1 Trust4.250% 10/25/20570.3%
OneMain Financial Issuance Trust 2022-35.940% 05/15/20340.3%
ACRES Commercial Realty 2021-FL2 Ltd6.847% 01/15/20370.3%
30-YR UMBS-TBA PROD NOV6.500% 08/01/20530.3%
Goldman Sachs Group Inc/The2.383% 07/21/20320.3%
Morgan Stanley2.239% 07/21/20320.3%
JPMBB Commercial Mortgage Securities Trust 2014-C263.800% 01/15/20480.3%
JPMorgan Chase & Co2.963% 01/25/20330.3%
Santander Drive Auto Receivables Trust 2022-54.430% 03/15/20270.3%
Danske Bank A/S6.466% 01/09/20260.3%
Freddie Mac Pool5.000% 08/01/20520.3%
Freddie Mac Multifamily Structured Pass Through Certificates3.123% 08/25/20320.3%
CenterPoint Energy Resources Corp1.750% 10/01/20300.3%
Elevance Health Inc5.500% 10/15/20320.3%
Hyundai Capital America1.800% 10/15/20250.3%
Capital One Multi-Asset Execution Trust6.120% 05/15/20280.3%
GLS Auto Receivables Issuer Trust 2023-15.980% 08/17/20260.3%
EIG Pearl Holdings Sarl3.545% 08/31/20360.3%
GA Global Funding Trust3.850% 04/11/20250.3%
Diamondback Energy Inc3.500% 12/01/20290.3%
Amazon.com Inc4.700% 12/01/20320.3%
Freddie Mac Pool4.500% 08/01/20520.2%
Galaxy Pipeline Assets Bidco Ltd3.250% 09/30/20400.2%
Bank of America Corp2.687% 04/22/20320.2%
Ready Capital Mortgage Financing 2023-FL12 LLC7.655% 05/25/20380.2%
UBS Group AG1.494% 08/10/20270.2%
Entergy Corp0.900% 09/15/20250.2%
Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd6.797% 11/15/20360.2%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd6.547% 05/15/20360.2%
BAT Capital Corp3.222% 08/15/20240.2%
Danske Bank A/S3.773% 03/28/20250.2%
GM Financial Automobile Leasing Trust 2023-25.540% 05/20/20270.2%
Wells Fargo & Co3.350% 03/02/20330.2%
Amgen Inc5.250% 03/02/20300.2%
Affirm Asset Securitization Trust 2022-A4.300% 05/17/20270.2%
Mexico Government International Bond4.875% 05/19/20330.2%
Exeter Automobile Receivables Trust 2023-36.680% 04/16/20290.2%
Macquarie Group Ltd4.654% 03/27/20290.2%
BAT Capital Corp6.343% 08/02/20300.2%
Toronto-Dominion Bank/The4.456% 06/08/20320.2%
Santander Drive Auto Receivables Trust 2022-64.960% 11/15/20280.2%
Fannie Mae Pool5.000% 08/01/20520.2%
J.P. Morgan Mortgage Trust 2021-INV83.000% 05/25/20520.2%
Royal Bank of Canada6.000% 11/01/20270.2%
New York Life Global Funding4.550% 01/28/20330.2%
ME Funding LLC 2019-16.448% 07/30/20490.2%
Fannie Mae Pool2.000% 11/01/20510.2%
Affirm Asset Securitization Trust 2023-A6.610% 01/18/20280.2%
Post Road Equipment Finance 2022-14.880% 11/15/20280.2%
NextEra Energy Capital Holdings Inc6.328% 03/21/20240.2%
Wells Fargo Commercial Mortgage Trust 2018-C454.184% 06/15/20510.2%
Southern Co/The2.700% 08/01/20240.2%
BANK 2022-BNK445.937% 11/15/20550.2%
Elevance Health Inc2.250% 05/15/20300.2%
Flagship Credit Auto Trust 2023-15.010% 08/16/20270.2%
Freddie Mac Multifamily Structured Pass Through Certificates2.580% 05/25/20320.2%
GS Mortgage-Backed Securities Trust 2021-PJ22.500% 07/25/20510.2%
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara5.450% 05/21/20280.2%
Philip Morris International Inc5.625% 11/17/20290.2%
Fannie Mae Pool4.000% 06/01/20520.2%
Prosus NV3.257% 01/19/20270.2%
Citigroup Inc3.887% 01/10/20280.2%
Lloyds Banking Group PLC3.900% 03/12/20240.2%
Dryden 113 CLO Ltd7.646% 10/20/20350.2%
Fannie Mae Pool2.500% 01/01/20510.2%
30-YR GNMA II-TBA PROD OCT6.000% 06/01/20530.2%
Eastern Gas Transmission & Storage Inc3.000% 11/15/20290.2%
Saudi Government International Bond4.875% 07/18/20330.2%
Apidos CLO XXIV6.538% 10/20/20300.2%
Abu Dhabi Crude Oil Pipeline LLC4.600% 11/02/20470.2%
UnitedHealth Group Inc4.000% 05/15/20290.2%
Valley Stream Park CLO LTD7.646% 10/20/20340.2%
Cellnex Finance Co SA3.875% 07/07/20410.2%
Freddie Mac Structured Agency Credit Risk Debt Notes7.415% 04/25/20430.2%
Marlette Funding Trust 2022-35.950% 11/15/20320.2%
Voya CLO 2018-2 Ltd6.570% 07/15/20310.2%
US Bancorp4.967% 07/22/20330.2%
Wells Fargo & Co2.393% 06/02/20280.2%
7-Eleven Inc0.800% 02/10/20240.2%
Metropolitan Life Global Funding I5.150% 03/28/20330.2%
Netflix Inc5.875% 11/15/20280.2%
UBS Group AG5.711% 01/12/20270.2%
NatWest Group PLC5.808% 09/13/20290.2%
Great Wolf Trust 2019-WOLF6.481% 12/15/20360.2%
Fannie Mae Pool2.500% 12/01/20510.2%
Newark BSL CLO 1 Ltd6.695% 12/21/20290.2%
30-YR UMBS-TBA PROD NOV2.000% 09/01/20510.2%
Freddie Mac Pool2.500% 07/01/20510.2%
Cigna Group/The2.400% 03/15/20300.2%
Honeywell International Inc4.125% 11/02/20340.2%
Ovintiv Inc6.500% 02/01/20380.2%
SEB Funding LLC4.969% 01/30/20520.2%
Lendmark Funding Trust 2021-22.370% 04/20/20320.2%
Bank of America Corp2.299% 07/21/20320.2%
NiSource Inc2.950% 09/01/20290.2%
BMO 2023-C5 Mortgage Trust5.494% 06/15/20560.2%
Eni SpA5.700% 10/01/20400.2%
AEP Texas Inc5.400% 06/01/20330.2%
Wells Fargo Commercial Mortgage Trust 2015-NXS33.972% 09/15/20570.2%
FactSet Research Systems Inc3.450% 03/01/20320.2%
Freddie Mac STACR REMIC Trust 2022-HQA18.815% 03/25/20420.2%
PFP 2023-10 Ltd7.696% 04/16/20280.2%
Capital One Prime Auto Receivables Trust 2022-12.710% 06/16/20250.2%
Constellation Brands Inc3.150% 08/01/20290.2%
COMM 2014-CCRE17 Mortgage Trust4.174% 05/10/20470.2%
Fannie Mae Pool2.500% 06/01/20510.2%
Freddie Mac Pool5.000% 08/01/20520.2%
J.P. Morgan Mortgage Trust 2023-86.000% 02/25/20540.2%
Wells Fargo Bank NA5.850% 02/01/20370.2%
Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.2%
BlueMountain CLO XXXI Ltd6.732% 04/19/20340.2%
Fannie Mae Pool3.500% 04/01/20520.2%
HSBC Holdings PLC3.803% 03/11/20250.2%
Humana Inc1.350% 02/03/20270.2%
Bain Capital Credit CLO 2019-26.670% 10/17/20320.2%
Panama Government International Bond2.252% 09/29/20320.2%
Lending Funding Trust 2020-22.320% 04/21/20310.2%
Revvity Inc0.850% 09/15/20240.2%
Cargill Inc4.000% 06/22/20320.2%
Rad CLO 6 Ltd6.968% 01/20/20330.2%
Angel Oak Mortgage Trust 2023-34.800% 09/26/20670.2%
AmeriCredit Automobile Receivables Trust 2022-24.200% 12/18/20250.2%
BX Trust 2018-GW6.429% 05/15/20350.2%
Constellation Energy Generation LLC6.250% 10/01/20390.2%
30-YR UMBS-TBA PROD OCT4.500% 05/01/20530.2%
Veralto Corp5.450% 09/18/20330.2%
Halliburton Co7.450% 09/15/20390.2%
Fannie Mae Pool2.500% 12/01/20510.2%
Continental Resources Inc/OK4.900% 06/01/20440.2%
Affirm Asset Securitization Trust 2023-B6.820% 09/15/20280.2%
Carlyle Global Market Strategies CLO 2014-2R Ltd6.676% 05/15/20310.2%
Apidos CLO XII6.970% 04/15/20310.2%
Warnermedia Holdings Inc3.788% 03/15/20250.2%
Aircastle Ltd2.850% 01/26/20280.1%
Occidental Petroleum Corp6.450% 09/15/20360.1%
Bank of America Corp1.658% 03/11/20270.1%
Fannie Mae Pool2.000% 09/01/20510.1%
Kellogg Co5.250% 03/01/20330.1%
MidAmerican Energy Co5.850% 09/15/20540.1%
CIM Trust 2020-INV12.500% 04/25/20500.1%
Wells Fargo & Co2.188% 04/30/20260.1%
Citigroup Mortgage Loan Trust 2022-INV13.000% 11/27/20510.1%
MF1 2022-FL9 LLC7.477% 06/19/20370.1%
COMM 2015-LC21 Mortgage Trust4.043% 07/10/20480.1%
Eaton Vance CLO 2013-1 Ltd6.820% 01/15/20340.1%
Aviation Capital Group LLC1.950% 01/30/20260.1%
SCF Equipment Leasing 2021-1 LLC1.540% 10/21/20300.1%
State Street Corp4.164% 08/04/20330.1%
Citigroup Inc3.352% 04/24/20250.1%
HEICO Corp5.350% 08/01/20330.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.1%
Post Road Equipment Finance 2021-11.690% 11/15/20270.1%
Bank of America Corp3.593% 07/21/20280.1%
Bank of New York Mellon Corp/The4.967% 04/26/20340.1%
MF1 2022-FL8 Ltd6.677% 02/19/20370.1%
M&T Bank Corp5.053% 01/27/20340.1%
30-YR GNMA II-TBA PROD NOV3.500% 04/01/20520.1%
UBS Group AG1.364% 01/30/20270.1%
30-YR UMBS-TBA PROD NOV4.500% 05/01/20530.1%
Magnetite VII Ltd6.370% 01/15/20280.1%
Connecticut Avenue Securities Trust 2023-R048.865% 05/25/20430.1%
Wisconsin Power and Light Co3.950% 09/01/20320.1%
NOV Inc3.600% 12/01/20290.1%
Columbia Pipeline Group Inc4.500% 06/01/20250.1%
Kinder Morgan Energy Partners LP4.250% 09/01/20240.1%
JP Morgan Mortgage Trust 2021-32.500% 07/25/20510.1%
Connecticut Avenue Securities Trust 2023-R017.715% 12/25/20420.1%
Bank of New York Mellon Corp/The4.596% 07/26/20300.1%
Chase Home Lending Mortgage Trust 2023-16.000% 06/25/20540.1%
Westlake Automobile Receivables Trust 2020-33.340% 06/15/20260.1%
Wells Fargo & Co2.164% 02/11/20260.1%
CIFC Funding 2014-III Ltd6.807% 10/22/20310.1%
NGPL PipeCo LLC3.250% 07/15/20310.1%
Haleon US Capital LLC3.625% 03/24/20320.1%
LoanCore 2022-CRE7 Issuer Ltd6.863% 01/17/20370.1%
Minejesa Capital BV4.625% 08/10/20300.1%
Dryden 61 Clo Ltd6.560% 01/17/20320.1%
BNP Paribas SA4.375% 03/01/20330.1%
Corp Nacional del Cobre de Chile5.125% 02/02/20330.1%
Southwest Gas Corp4.050% 03/15/20320.1%
Park Aerospace Holdings Ltd5.500% 02/15/20240.1%
EQUS 2021-EQAZ Mortgage Trust6.201% 10/15/20380.1%
Oracle Corp2.875% 03/25/20310.1%
GS Mortgage-Backed Securities Trust 2023-PJ13.500% 02/25/20530.1%
Fannie Mae Pool2.000% 11/01/20510.1%
BANK 2022-BNK445.937% 11/15/20550.1%
Carlyle Global Market Strategies CLO 2012-3 Ltd6.753% 01/14/20320.1%
JP Morgan Mortgage Trust 2022-33.000% 08/25/20520.1%
Freddie Mac STACR REMIC Trust 2022-DNA38.215% 04/25/20420.1%
Apache Corp4.750% 04/15/20430.1%
Texas Natural Gas Securitization Finance Corp5.102% 04/01/20350.1%
BRAVO Residential Funding Trust 2021-NQM20.970% 03/25/20600.1%
Freddie Mac Pool2.500% 11/01/20500.1%
F&G Global Funding2.300% 04/11/20270.1%
Fannie Mae Pool2.000% 06/01/20510.1%
Palmer Square Loan Funding 2021-1 Ltd6.488% 04/20/20290.1%
Intuit Inc5.500% 09/15/20530.1%
GS Mortgage-Backed Securities Trust 2021-PJ82.500% 01/25/20520.1%
CVS Health Corp5.050% 03/25/20480.1%
Hyundai Capital America5.800% 06/26/20250.1%
Fannie Mae Pool2.500% 05/01/20520.1%
Oglethorpe Power Corp5.950% 11/01/20390.1%
Flagstar Mortgage Trust 2021-11INV3.000% 11/25/20510.1%
Broadcom Inc4.150% 04/15/20320.1%
Octagon Investment Partners XVI Ltd6.590% 07/17/20300.1%
Elmwood CLO VIII Ltd6.828% 01/20/20340.1%
Macquarie Bank Ltd3.052% 03/03/20360.1%
Freddie Mac Pool5.000% 07/01/20520.1%
Oklahoma Gas and Electric Co5.400% 01/15/20330.1%
Connecticut Avenue Securities Trust 2023-R037.815% 04/25/20430.1%
Madison Park Funding XXXII Ltd6.607% 01/22/20310.1%
Bayer Corp/NJ6.650% 02/15/20280.1%
Deephaven Residential Mortgage Trust 2021-31.194% 08/25/20660.1%
Morgan Stanley4.210% 04/20/20280.1%
American Tower Corp5.550% 07/15/20330.1%
JPMorgan Chase & Co2.580% 04/22/20320.1%
EFMT 2023-15.732% 02/25/20680.1%
Mitsubishi UFJ Financial Group Inc5.541% 04/17/20260.1%
Neuberger Berman Loan Advisers CLO 35 Ltd6.922% 01/19/20330.1%
Carlyle Global Market Strategies CLO 2015-1 Ltd6.568% 07/20/20310.1%
Connecticut Avenue Securities Trust 2022-R087.865% 07/25/20420.1%
Crown Castle Inc2.100% 04/01/20310.1%
BHMS 2018-ATLS6.879% 07/15/20350.1%
Madison Park Funding XXI Ltd6.650% 10/15/20320.1%
Connecticut Avenue Securities Trust 2023-R068.015% 07/25/20430.1%
Fannie Mae Pool4.000% 05/01/20520.1%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.1%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
Oracle Corp6.125% 07/08/20390.1%
US Bancorp4.839% 02/01/20340.1%
Octagon Investment Partners XIV Ltd6.520% 07/15/20290.1%
Netflix Inc6.375% 05/15/20290.1%
Ohio Edison Co8.250% 10/15/20380.1%
Fannie Mae Pool2.500% 12/01/20510.1%
L3Harris Technologies Inc5.600% 07/31/20530.1%
Freddie Mac STACR REMIC Trust 2021-DNA66.815% 10/25/20410.1%
Freddie Mac STACR REMIC Trust 2021-DNA77.115% 11/25/20410.1%
Fannie Mae Pool3.500% 07/01/20450.1%
British Airways 2020-1 Class A Pass Through Trust4.250% 05/15/20340.1%
KKR CLO 29 Ltd6.770% 01/15/20320.1%
Angel Oak Mortgage Trust 2022-34.000% 01/25/20670.1%
Duke Energy Indiana LLC5.400% 04/01/20530.1%
T-Mobile USA Inc3.500% 04/15/20250.1%
COMM 2014-UBS4 Mortgage Trust4.868% 08/10/20470.1%
Marble Point CLO XVII Ltd6.888% 04/20/20330.1%
Stars Group Holdings BV7.902% 07/21/20260.1%
Marlette Funding Trust 2020-24.650% 09/16/20300.1%
Fannie Mae Pool3.000% 01/01/20510.1%
Freddie Mac Pool3.500% 02/01/20460.1%
Fannie Mae Pool5.000% 07/01/20520.1%
CarMax Auto Owner Trust 2022-22.810% 05/15/20250.1%
ServiceNow Inc1.400% 09/01/20300.1%
Connecticut Avenue Securities Trust 2021-R016.865% 10/25/20410.1%
Upstart Securitization Trust 2021-21.750% 06/20/20310.1%
Fannie Mae Connecticut Avenue Securities7.315% 11/25/20410.1%
Barings CLO Ltd 2019-III6.658% 04/20/20310.1%
Fannie Mae Pool4.000% 05/01/20520.1%
Viterra Finance BV4.900% 04/21/20270.1%
Fannie Mae Pool2.500% 08/01/20500.1%
Morgan Stanley2.484% 09/16/20360.1%
AES Corp/The3.950% 07/15/20300.1%
Octane Receivables Trust 2022-25.110% 02/22/20280.1%
GS Mortgage-Backed Securities Corp Trust 2020-PJ43.000% 01/25/20510.1%
Freddie Mac Structured Agency Credit Risk Debt Notes7.965% 07/25/20420.1%
Mariner Finance Issuance Trust 2021-A3.830% 03/20/20360.1%
Donlen Fleet Lease Funding 2 LLC0.560% 12/11/20340.1%
TCW CLO 2022-1 Ltd6.686% 04/22/20330.1%
BX Commercial Mortgage Trust 2021-XL26.135% 10/15/20380.1%
Fannie Mae Pool5.000% 07/01/20520.1%
Hilton Orlando Trust 2018-ORL6.399% 12/15/20340.1%
Fannie Mae Pool2.500% 09/01/20510.1%
Fannie Mae Pool2.500% 08/01/20510.1%
Alfa Desarrollo SpA4.550% 09/27/20510.1%
Ballyrock CLO 23 Ltd7.331% 04/25/20360.1%
TCI-Flatiron Clo 2017-1 Ltd6.601% 11/18/20300.1%
Lendmark Funding Trust 2021-13.410% 11/20/20310.1%
Ares XL CLO Ltd6.440% 01/15/20290.1%
Angel Oak Mortgage Trust 2021-31.068% 05/25/20660.1%
Mountain View CLO 2017-1 LLC6.660% 10/16/20290.1%
US 10yr Ultra Fut Dec230.000% 12/29/20230.1%
Citigroup Inc4.140% 05/24/20250.1%
Freddie Mac STACR REMIC Trust 2021-HQA46.265% 12/25/20410.1%
DTE Energy Co0.000% 11/01/20240.1%
Sunrun Demeter Issuer 2021-2 LLC2.270% 01/30/20570.1%
CF Trust 2019-BOSS8.629% 12/15/20240.1%
UBS AG5.125% 05/15/20240.1%
Metropolitan Life Global Funding I4.050% 08/25/20250.1%
GM Financial Automobile Leasing Trust 2022-22.930% 10/21/20240.1%
Sabine Pass Liquefaction LLC5.625% 03/01/20250.0%
Cigna Group/The4.375% 10/15/20280.0%
Freddie Mac STACR REMIC Trust 2022-HQA37.615% 08/25/20420.0%
American Tower Corp2.950% 01/15/20250.0%
Fannie Mae Pool3.500% 09/01/20510.0%
Freddie Mac Pool2.500% 05/01/20520.0%
Assurant Inc2.650% 01/15/20320.0%
Starwood Mortgage Residential Trust 2020-31.486% 04/25/20650.0%
BBCMS 2019-BWAY Mortgage Trust6.403% 11/15/20340.0%
Baxalta Inc4.000% 06/23/20250.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN6.649% 11/15/20350.0%
Verus Securitization Trust 2020-41.502% 05/25/20650.0%
Bank of America Corp4.000% 01/22/20250.0%
GCAT 2020-NQM2 Trust1.555% 04/25/20650.0%
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%
Galaxy XXI CLO Ltd6.608% 04/20/20310.0%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.0%
CSMC 2020-NQM1 Trust1.208% 05/25/20650.0%
US LONG BOND(CBT) Dec230.000% 12/29/20230.0%
Ellington Financial Mortgage Trust 2020-12.006% 05/25/20650.0%
BBCMS 2019-BWAY Mortgage Trust6.757% 11/15/20340.0%
Verus Securitization Trust 2020-INV11.977% 03/25/20600.0%
Verus Securitization Trust 2020-12.417% 01/25/20600.0%
Antofagasta PLC5.625% 05/13/20320.0%
Towd Point Asset Trust 2018-SL16.034% 01/25/20460.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
FX USD/EUR 12/230.000% 12/13/20230.0%
Credit Suisse Mortgage Capital Certificates1.616% 04/25/20650.0%
Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
WFRBS Commercial Mortgage Trust 2014-C230.693% 10/15/20570.0%
Citigroup Commercial Mortgage Trust 2014-GC211.281% 05/10/20470.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
EURO-BUND FUTURE Dec230.000% 12/11/20230.0%
US 2YR NOTE (CBT) Dec230.000% 01/04/20240.0%
US ULTRA BOND CBT Dec230.000% 12/29/2023-0.3%
LAC0.010% 10/02/2023-4.3%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 11/29/2023
$0.32891
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 10/31/2023 $0.03434 $8.73
Daily Daily 09/30/2023 $0.03388 $8.89
Daily Daily 08/31/2023 $0.03351 $9.15
Daily Daily 07/31/2023 $0.03316 $9.24
Daily Daily 06/30/2023 $0.03292 $9.26
Daily Daily 05/31/2023 $0.03327 $9.32
Daily Daily 04/30/2023 $0.03317 $9.47
Daily Daily 03/31/2023 $0.03396 $9.45
Daily Daily 02/28/2023 $0.03025 $9.27
Daily Daily 01/31/2023 $0.03046 $9.54

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
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

Fees & Expenses

Fees & Expenses

Expense Ratioas of 10/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.62% 0.62%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
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

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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.      

                    

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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

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.

 

2

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

3

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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