Core Fixed Income Fund

LCRAX

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Daily price w/o sales charge as of 12/06/2021

$11.15

$0.03

YTD Returns w/o sales charge as of 12/06/2021

-0.49%

Please click here for performance current to the most recent quarter-end and month-end.

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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 12/06/2021

w/o sales charge	1.30%
w/ sales charge	1.27%

30-Day Standardized Yield ² as of 10/31/2021

1.04%

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

Expense Ratioas of 11/30/2021

Fund Basicsas of 10/29/2021

Total Net Assets: $2.06 B
Inception Date: 08/31/2000
Dividend Frequency: Monthly (Daily Accrual)
Number of Holdings: 314
Minimum Initial Investment: $1,500+

Fund Expense Ratio :

0.60%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 08/31/2000

w/o sales charge	-0.60%	-0.30%	5.54%	3.55%	3.03%	4.73%
Lipper Category Avg. Core Bond Funds	-1.07%	-0.70%	5.71%	3.76%	3.24%	-
Bloomberg U.S. Aggregate Bond Index	-1.29%	-1.15%	5.52%	3.65%	3.04%	4.71%
w/ sales charge	-2.83%	-2.55%	4.74%	3.08%	2.80%	4.62%

Fund Expense Ratio :

0.60%

Fund Expense Ratio :

0.60%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 08/31/2000

w/o sales charge	-0.82%	0.32%	5.35%	2.86%	3.01%	4.76%
Lipper Category Avg. Core Bond Funds	-1.08%	0.35%	5.54%	3.15%	3.24%	-
Bloomberg U.S. Aggregate Bond Index	-1.55%	-0.90%	5.36%	2.94%	3.01%	4.74%
w/ sales charge	-3.04%	-1.96%	4.55%	2.39%	2.78%	4.65%

Fund Expense Ratio :

0.60%

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
U.S. Government Related
MBS
ABS
CLO
CMBS
Corporates
Sovereign
Bank Loans
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 10/29/2021 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

Partner & Portfolio Manager

27 Years of Industry Experience

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

22 Years of Industry Experience

Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

Adam C. Castle, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

Leah G. Traub, Ph.D.

Partner & Portfolio Manager

19 Years of Industry Experience

Harris Trifon

Managing Director, Portfolio Manager

20 Years of Industry Experience

Supported By 62 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Dividend Yield ¹ as of 12/06/2021

w/o sales charge	1.30%
w/ sales charge	1.27%

30-Day Standardized Yield ² as of 10/31/2021

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	1.04%	1.04%

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

Fund Expense Ratio :

0.60%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 08/31/2000

w/o sales charge	-0.60%	-0.30%	5.54%	3.55%	3.03%	4.73%
Lipper Category Avg. Core Bond Funds	-1.07%	-0.70%	5.71%	3.76%	3.24%	-
Bloomberg U.S. Aggregate Bond Index	-1.29%	-1.15%	5.52%	3.65%	3.04%	4.71%
w/ sales charge	-2.83%	-2.55%	4.74%	3.08%	2.80%	4.62%

Fund Expense Ratio :

0.60%

Fund Expense Ratio :

0.60%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 08/31/2000

w/o sales charge	-0.82%	0.32%	5.35%	2.86%	3.01%	4.76%
Lipper Category Avg. Core Bond Funds	-1.08%	0.35%	5.54%	3.15%	3.24%	-
Bloomberg U.S. Aggregate Bond Index	-1.55%	-0.90%	5.36%	2.94%	3.01%	4.74%
w/ sales charge	-3.04%	-1.96%	4.55%	2.39%	2.78%	4.65%

Fund Expense Ratio :

0.60%

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

Year	Fund Returns	Bloomberg U.S. Aggregate Bond Index

2020	7.92%	7.51%
2019	7.83%	8.72%
2018	-0.43%	0.01%
2017	3.25%	3.54%
2016	2.71%	2.65%
2015	-0.54%	0.55%
2014	6.13%	5.97%
2013	-2.28%	-2.02%
2012	5.84%	4.22%
2011	7.60%	7.84%
2010	6.66%	-
2009	12.49%	-
2008	1.12%	-
2007	6.15%	-
2006	3.97%	-
2005	2.14%	-
2004	3.71%	-
2003	3.82%	-
2002	9.30%	-
2001	9.45%	-

Year	Q1	Q2	Q3	Q4	Yearly Returns

2021	-2.72%	1.98%	-0.03%	-	-0.49%
2020	1.63%	3.62%	1.33%	1.14%	7.92%
2019	2.83%	2.89%	2.04%	-0.12%	7.83%
2018	-1.39%	-0.34%	0.03%	1.29%	-0.43%
2017	0.85%	1.32%	0.75%	0.29%	3.25%
2016	2.65%	2.37%	0.75%	-2.99%	2.71%
2015	1.36%	-1.66%	0.62%	-0.85%	-0.54%
2014	2.10%	2.17%	0.12%	1.61%	6.13%
2013	0.00%	-2.72%	0.36%	0.10%	-2.28%
2012	1.11%	2.06%	1.97%	0.57%	5.84%
2011	0.58%	2.19%	3.56%	1.09%	7.60%
2010	2.16%	3.13%	2.67%	-1.40%	6.66%
2009	2.40%	3.95%	5.43%	0.24%	12.49%
2008	1.19%	-0.08%	-1.27%	1.30%	1.12%
2007	1.36%	-0.74%	2.79%	2.65%	6.15%
2006	-0.56%	-0.27%	3.75%	1.06%	3.97%
2005	-0.20%	2.87%	-0.90%	0.39%	2.14%
2004	2.37%	-2.39%	2.96%	0.81%	3.71%
2003	1.18%	2.68%	-0.26%	0.19%	3.82%
2002	0.00%	2.80%	3.86%	2.38%	9.30%
2001	3.27%	0.53%	5.03%	0.37%	9.45%
2000	-	-	-	4.71%	5.70%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 07/31/2021

The chart begins on the Fund's inception date of 08/31/2000.

Based on a hypothetical Class A share investment of $10,000 on 08/31/2000 without sales charge and includes the reinvestment of all distributions.

NAV Historical Prices

Date	Net Asset Value

Portfolio

Rating	Assets
U.S. Government Related
MBS
ABS
CLO
CMBS
Corporates
Sovereign
Bank Loans
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
1-3 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 10/29/2021

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

Portfolio Positioning as of 9/30/2021

Over the quarter, we added risk exposure to the portfolio’s commercial mortgage-backed securities (CMBS) allocation. The additions to CMBS in the portfolio have been focused on floating rate single-asset, single-borrower deals with high quality tenants in strong geographic areas. CMBS offer more attractive value relative to corporate bonds, in our view. This securitized asset class delivers attractive carry and has been supported by economic growth and a supportive Federal Government. However, in-depth due diligence is essential as geography matters and rent roll analysis is key. That said, our team continues to identify idiosyncratic opportunities in the CMBS markets.
We also increased the portfolio’s allocation to mortgage-backed securities (MBS). Specifically, we have added to RMBS warehouse deals which we believe to have attractive relative value and spread pick-up.

Portfolio Details as of 10/29/2021

Total Net Assets: $2.06 B
Number of Issues: 314
Average Coupon: 1.81%
Average Life: 6.35 Years
Average Maturity: 6.35 Years
Average Effective Duration: 5.82 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

United States Treasury Note/Bond	0.625%	07/31/2026	13.0%
United States Treasury Bill	0.000%	04/21/2022	7.8%
30-YR UMBS-TBA PROD NOV	3.000%	08/01/2050	6.5%
United States Treasury Note/Bond	0.125%	08/31/2023	5.5%
United States Treasury Bill	0.000%	01/27/2022	5.3%
United States Treasury Note/Bond	0.375%	07/15/2024	5.1%
United States Treasury Note/Bond	0.375%	10/31/2023	3.5%
United States Treasury Note/Bond	1.125%	05/15/2040	2.5%
United States Treasury Note/Bond	1.250%	08/15/2031	1.9%
30-YR UMBS-TBA PROD NOV	2.500%	05/01/2051	1.9%

% of Total Assets			53.0%

Holding	Coupon	Maturity	Assets

United States Treasury Note/Bond	0.625%	07/31/2026	13.0%
United States Treasury Bill	0.000%	04/21/2022	7.8%
30-YR UMBS-TBA PROD NOV	3.000%	08/01/2050	6.5%
United States Treasury Note/Bond	0.125%	08/31/2023	5.5%
United States Treasury Bill	0.000%	01/27/2022	5.3%
United States Treasury Note/Bond	0.375%	07/15/2024	5.1%
United States Treasury Note/Bond	0.375%	10/31/2023	3.5%
United States Treasury Note/Bond	1.125%	05/15/2040	2.5%
United States Treasury Note/Bond	1.250%	08/15/2031	1.9%
30-YR UMBS-TBA PROD NOV	2.500%	05/01/2051	1.9%
United States Treasury Note/Bond	1.750%	08/15/2041	1.8%
United States Treasury Note/Bond	2.000%	08/15/2051	1.1%
Bank of America Corp	2.687%	04/22/2032	0.7%
Toyota Auto Receivables 2021-A Owner Trust	0.160%	07/17/2023	0.7%
Hertz Vehicle Financing III LP	1.680%	12/27/2027	0.7%
JPMorgan Chase & Co	3.782%	02/01/2028	0.6%
Fannie Mae Pool	3.500%	09/01/2047	0.6%
Ford Credit Auto Lease Trust 2021-A	0.190%	07/15/2023	0.5%
World Omni Auto Receivables Trust 2021-A	0.170%	02/15/2024	0.5%
Diamondback Energy Inc	4.750%	05/31/2025	0.5%
Carmax Auto Owner Trust 2021-1	0.220%	02/15/2024	0.5%
Citigroup Inc	2.666%	01/29/2031	0.5%
Aqua Finance Trust 2021-A	3.140%	07/17/2046	0.5%
NOV Inc	3.600%	12/01/2029	0.5%
Japan Finance Organization for Municipalities	2.000%	04/21/2022	0.5%
Mercedes-Benz Auto Lease Trust 2021-A	0.180%	03/15/2023	0.5%
Continental Finance Credit Card ABS Master Trust	2.240%	12/15/2028	0.4%
New York City Transitional Finance Authority Future Tax Secured Revenue	2.690%	05/01/2033	0.4%
United States Treasury Note/Bond	2.250%	08/15/2049	0.4%
CARLYLE US CLO 2021-1 LTD	1.264%	04/15/2034	0.4%
CIFC Funding 2021-I Ltd	1.234%	04/25/2033	0.4%
Citigroup Inc	3.887%	01/10/2028	0.4%
National Fuel Gas Co	3.950%	09/15/2027	0.4%
Bayer US Finance II LLC	3.875%	12/15/2023	0.4%
Goldman Sachs Group Inc/The	2.383%	07/21/2032	0.4%
Ally Financial Inc	8.000%	11/01/2031	0.4%
JPMorgan Chase & Co	2.580%	04/22/2032	0.4%
Flagship Credit Auto Trust 2021-2	1.270%	06/15/2027	0.4%
Dell International LLC / EMC Corp	8.350%	07/15/2046	0.4%
Wells Fargo Bank NA	5.850%	02/01/2037	0.4%
Fannie Mae Pool	3.500%	03/01/2050	0.3%
Pacific Gas and Electric Co	4.550%	07/01/2030	0.3%
Lendmark Funding Trust 2021-2	2.370%	04/20/2032	0.3%
Citigroup Inc	3.980%	03/20/2030	0.3%
MF1 2020-FL3 Ltd	3.914%	07/15/2035	0.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust	3.875%	01/23/2028	0.3%
Kayne CLO 10 Ltd	1.294%	04/23/2034	0.3%
VMware Inc	4.700%	05/15/2030	0.3%
Eni SpA	5.700%	10/01/2040	0.3%
Aircastle Ltd	2.850%	01/26/2028	0.3%
Bayer US Finance II LLC	4.375%	12/15/2028	0.3%
Dryden Senior Loan Fund	1.594%	04/15/2028	0.3%
American Campus Communities Operating Partnership LP	3.875%	01/30/2031	0.3%
ZH Trust 2021-2	2.349%	10/17/2027	0.3%
Teachers Insurance & Annuity Association of America	4.900%	09/15/2044	0.3%
Marlette Funding Trust 2020-2	4.650%	09/16/2030	0.3%
Great Wolf Trust 2019-WOLF	1.124%	12/15/2036	0.3%
ME Funding LLC 2019-1	6.448%	07/30/2049	0.3%
HGI CRE CLO 2021-FL2 Ltd	1.586%	09/17/2036	0.3%
OneMain Financial Issuance Trust 2018-2	3.570%	03/14/2033	0.3%
Qatar Government International Bond	4.000%	03/14/2029	0.3%
Bank of America Corp	4.450%	03/03/2026	0.3%
Lending Funding Trust 2020-2	2.320%	04/21/2031	0.3%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd	1.490%	05/15/2036	0.3%
AT&T Inc	3.500%	09/15/2053	0.3%
American Airlines 2021-1 Class A Pass Through Trust	2.875%	01/11/2036	0.3%
NVR Inc	3.000%	05/15/2030	0.3%
Exelon Generation Co LLC	6.250%	10/01/2039	0.3%
Continental Resources Inc/OK	4.900%	06/01/2044	0.3%
USQ Rail II LLC	2.210%	06/28/2051	0.3%
Nelnet Student Loan Trust 2021-A	1.360%	04/20/2062	0.3%
VERDE CLO Ltd	1.224%	04/15/2032	0.3%
Palmer Square CLO 2021-2 Ltd	1.274%	07/15/2034	0.3%
Avolon Holdings Funding Ltd	5.250%	05/15/2024	0.3%
BNP Paribas SA	4.375%	03/01/2033	0.3%
Bank of America Corp	3.593%	07/21/2028	0.3%
Diamondback Energy Inc	3.500%	12/01/2029	0.3%
Bain Capital Credit CLO 2019-2	1.222%	10/17/2032	0.3%
Deephaven Residential Mortgage Trust 2021-3	1.194%	08/25/2066	0.2%
BX Trust 2018-GW	0.890%	05/15/2035	0.2%
SA Global Sukuk Ltd	2.694%	06/17/2031	0.2%
General Motors Co	6.600%	04/01/2036	0.2%
Dryden 61 Clo Ltd	1.112%	01/17/2032	0.2%
Oglethorpe Power Corp	5.950%	11/01/2039	0.2%
OCP Clo 2019-17 Ltd	1.172%	07/20/2032	0.2%
Invitation Homes Operating Partnership LP	2.000%	08/15/2031	0.2%
Time Warner Cable LLC	7.300%	07/01/2038	0.2%
OCP CLO 2019-16 Ltd	1.121%	04/10/2033	0.2%
Ford Credit Floorplan Master Owner Trust A	4.060%	11/15/2030	0.2%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT	1.275%	07/05/2033	0.2%
Eastern Gas Transmission & Storage Inc	3.000%	11/15/2029	0.2%
Kayne CLO 7 Ltd	1.322%	04/17/2033	0.2%
Apache Corp	4.750%	04/15/2043	0.2%
Macquarie Bank Ltd	3.052%	03/03/2036	0.2%
Halliburton Co	5.000%	11/15/2045	0.2%
Eaton Vance CLO 2013-1 Ltd	1.374%	01/15/2034	0.2%
Encina Equipment Finance 2021-1 LLC	1.690%	11/15/2027	0.2%
EPR Properties	3.750%	08/15/2029	0.2%
IPALCO Enterprises Inc	4.250%	05/01/2030	0.2%
TCI-Flatiron CLO 2016-1 Ltd	1.272%	01/17/2032	0.2%
Galaxy Pipeline Assets Bidco Ltd	3.250%	09/30/2040	0.2%
Freddie Mac STACR REMIC Trust 2021-HQA3	2.149%	09/25/2041	0.2%
Ohio Edison Co	8.250%	10/15/2038	0.2%
Churchill Downs Inc	2.090%	03/10/2028	0.2%
Park Aerospace Holdings Ltd	5.500%	02/15/2024	0.2%
Cellnex Finance Co SA	3.875%	07/07/2041	0.2%
Physicians Realty LP	2.625%	11/01/2031	0.2%
Santander Holdings USA Inc	4.400%	07/13/2027	0.2%
Skyworks Solutions Inc	3.000%	06/01/2031	0.2%
SCF Equipment Leasing 2021-1 LLC	1.540%	10/21/2030	0.2%
Ford Motor Co	7.450%	07/16/2031	0.2%
Lamar Media Corp	1.584%	02/05/2027	0.2%
BX Trust 2021-ARIA	2.332%	10/15/2036	0.2%
NGPL PipeCo LLC	3.250%	07/15/2031	0.2%
Horizon Therapeutics USA Inc	2.500%	03/15/2028	0.2%
Abu Dhabi Crude Oil Pipeline LLC	4.600%	11/02/2047	0.2%
Kraft Heinz Foods Co	3.750%	04/01/2030	0.2%
Emera US Finance LP	4.750%	06/15/2046	0.2%
Morgan Stanley	2.239%	07/21/2032	0.2%
Genesis Sales Finance Master Trust	2.240%	09/22/2025	0.2%
Kayne CLO 5 Ltd	1.474%	07/24/2032	0.2%
Dell Equipment Finance Trust 2019-2	1.910%	10/22/2024	0.2%
COMM 2014-UBS4 Mortgage Trust	4.712%	08/10/2047	0.2%
Westlake Automobile Receivables Trust 2020-3	3.340%	06/15/2026	0.2%
Santander Drive Auto Receivables Trust 2021-1	0.290%	11/15/2023	0.2%
Glencore Finance Canada Ltd	5.550%	10/25/2042	0.2%
Minejesa Capital BV	4.625%	08/10/2030	0.2%
NRG Energy Inc	3.625%	02/15/2031	0.2%
Halliburton Co	7.450%	09/15/2039	0.2%
Upstart Securitization Trust 2021-2	1.750%	06/20/2031	0.2%
nVent Finance Sarl	4.550%	04/15/2028	0.2%
Aviation Capital Group LLC	1.950%	01/30/2026	0.2%
Netflix Inc	6.375%	05/15/2029	0.2%
Arbor Realty Commercial Real Estate Notes 2021-FL3 Ltd	2.290%	08/15/2034	0.2%
Ball Corp	2.875%	08/15/2030	0.2%
Flagship Credit Auto Trust 2021-1	0.310%	06/16/2025	0.2%
COMM 2015-PC1 Mortgage Trust	4.321%	07/10/2050	0.2%
Macquarie Group Ltd	4.654%	03/27/2029	0.2%
Dell International LLC / EMC Corp	6.020%	06/15/2026	0.2%
Octagon Investment Partners 48 Ltd	1.632%	10/20/2031	0.2%
Elmwood CLO VIII Ltd	1.372%	01/20/2034	0.2%
Extended Stay America Trust 2021-ESH	1.790%	07/15/2038	0.2%
Westlake Automobile Receivables Trust 2020-2	0.930%	02/15/2024	0.2%
British Airways 2020-1 Class A Pass Through Trust	4.250%	05/15/2034	0.2%
OneMain Direct Auto Receivables Trust 2019-1	3.950%	11/14/2028	0.2%
SCF Equipment Leasing 2019-2 LLC	2.760%	08/20/2026	0.2%
Oaktree CLO 2019-4 Ltd	2.382%	10/20/2032	0.2%
BHMS 2018-ATLS	1.340%	07/15/2035	0.2%
COMM 2015-DC1 Mortgage Trust	4.307%	02/10/2048	0.2%
AMMC CLO 23 Ltd	2.132%	10/17/2031	0.2%
Glencore Funding LLC	2.850%	04/27/2031	0.2%
Regeneron Pharmaceuticals Inc	1.750%	09/15/2030	0.2%
Avolon Holdings Funding Ltd	2.125%	02/21/2026	0.2%
Freddie Mac STACR REMIC Trust 2021-DNA6	1.548%	10/25/2041	0.1%
Morgan Stanley	2.484%	09/16/2036	0.1%
Barings CLO Ltd 2019-III	1.732%	04/20/2031	0.1%
KKR CLO 29 Ltd	1.324%	01/15/2032	0.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust	3.500%	01/15/2025	0.1%
PulteGroup Inc	6.375%	05/15/2033	0.1%
AES Corp/The	3.950%	07/15/2030	0.1%
CBAM 2017-1 Ltd	3.882%	07/20/2030	0.1%
Qatar Petroleum	3.125%	07/12/2041	0.1%
Starwood Mortgage Residential Trust 2020-3	1.486%	04/25/2065	0.1%
Alfa Desarrollo SpA	4.550%	09/27/2051	0.1%
Marble Point CLO XVII Ltd	1.432%	04/20/2033	0.1%
Logan CLO I Ltd	1.288%	07/20/2034	0.1%
Morgan Stanley	4.431%	01/23/2030	0.1%
JPMBB Commercial Mortgage Securities Trust 2015-C30	4.266%	07/15/2048	0.1%
Charter Communications Operating LLC / Charter Communications Operating Capital	6.484%	10/23/2045	0.1%
Helmerich & Payne Inc	2.900%	09/29/2031	0.1%
Capital One Multi-Asset Execution Trust	0.674%	05/15/2028	0.1%
Mariner Finance Issuance Trust 2021-A	3.830%	03/20/2036	0.1%
Mountain View CLO 2017-1 LLC	1.212%	10/16/2029	0.1%
First American Financial Corp	2.400%	08/15/2031	0.1%
Connecticut Avenue Securities Trust 2021-R01	1.598%	10/25/2041	0.1%
Netflix Inc	4.875%	06/15/2030	0.1%
Oracle Corp	2.875%	03/25/2031	0.1%
Stellantis Finance US Inc	2.691%	09/15/2031	0.1%
American Homes 4 Rent LP	2.375%	07/15/2031	0.1%
Verus Securitization Trust 2020-4	1.502%	05/25/2065	0.1%
National Australia Bank Ltd	2.990%	05/21/2031	0.1%
Carlyle Global Market Strategies CLO 2015-5 Ltd	2.432%	01/20/2032	0.1%
Owl Rock Capital Corp	2.875%	06/11/2028	0.1%
JPMorgan Chase & Co	3.960%	01/29/2027	0.1%
JPMorgan Chase & Co	4.600%	08/01/2170	0.1%
Sunrun Demeter Issuer 2021-2	2.270%	01/30/2057	0.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-LAQ	1.390%	06/15/2032	0.1%
TSMC Arizona Corp	3.250%	10/25/2051	0.1%
Apidos CLO XXXV	1.182%	04/20/2034	0.1%
Wells Fargo Commercial Mortgage Trust 2016-C35	4.176%	07/15/2048	0.1%
Hudsons Bay Simon JV Trust 2015-HBS	4.666%	08/05/2034	0.1%
GCAT 2020-NQM2 Trust	1.555%	04/25/2065	0.1%
Citigroup Commercial Mortgage Trust 2016-GC36	2.850%	02/10/2049	0.1%
Vista Point Securitization Trust 2020-1	1.763%	03/25/2065	0.1%
Centene Corp	2.625%	08/01/2031	0.1%
Verus Securitization Trust 2020-INV1	1.977%	03/25/2060	0.1%
Toll Brothers Finance Corp	3.800%	11/01/2029	0.1%
Freeport-McMoRan Inc	4.625%	08/01/2030	0.1%
Alcoa Nederland Holding BV	4.125%	03/31/2029	0.1%
Freeport-McMoRan Inc	4.250%	03/01/2030	0.1%
Hilton Orlando Trust 2018-ORL	1.010%	12/15/2034	0.1%
Lendmark Funding Trust 2021-1	3.410%	11/20/2031	0.1%
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc	3.875%	03/01/2031	0.1%
Navient Corp	6.750%	06/15/2026	0.1%
Assurant Inc	2.650%	01/15/2032	0.1%
THL Credit Wind River 2017-3 Clo Ltd	3.974%	04/15/2035	0.1%
Crowdstrike Holdings Inc	3.000%	02/15/2029	0.1%
DBWF 2018-GLKS Mortgage Trust	1.110%	12/19/2030	0.1%
NRG Energy Inc	5.250%	06/15/2029	0.1%
Shea Homes LP / Shea Homes Funding Corp	4.750%	04/01/2029	0.1%
Twilio Inc	3.875%	03/15/2031	0.1%
CCO Holdings LLC / CCO Holdings Capital Corp	4.750%	03/01/2030	0.1%
Oracle Corp	6.125%	07/08/2039	0.1%
DaVita Inc	3.750%	02/15/2031	0.1%
SLC Student Loan Trust 2008-1	1.716%	12/15/2032	0.1%
Bank of America Corp	3.970%	03/05/2029	0.1%
Credit Suisse Mortgage Capital Certificates	1.616%	04/25/2065	0.1%
Invesco CLO Ltd	1.782%	10/22/2034	0.1%
OneMain Finance Corp	6.125%	03/15/2024	0.1%
UBS AG	5.125%	05/15/2024	0.1%
Vista Point Securitization Trust 2020-2	1.475%	04/25/2065	0.1%
Bank of America Corp	4.000%	01/22/2025	0.1%
Calpine Corp	5.000%	02/01/2031	0.1%
Pennsylvania Electric Co	3.600%	06/01/2029	0.1%
Ellington Financial Mortgage Trust 2020-1	2.006%	05/25/2065	0.1%
Ford Credit Auto Owner Trust 2021-REV1	1.910%	10/17/2033	0.1%
Bayer Corp	6.650%	02/15/2028	0.1%
New Jersey Educational Facilities Authority	3.836%	09/01/2036	0.1%
Mountain View CLO 2014-1 Ltd	2.124%	10/15/2026	0.1%
Hudsons Bay Simon JV Trust 2015-HBS	5.159%	08/05/2034	0.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust	3.300%	01/30/2032	0.1%
Foothill-Eastern Transportation Corridor Agency	4.094%	01/15/2049	0.1%
CF Trust 2019-BOSS	4.750%	12/15/2021	0.1%
Centene Corp	2.450%	07/15/2028	0.1%
Goldman Sachs Group Inc/The	6.750%	10/01/2037	0.1%
BBCMS 2019-BWAY Mortgage Trust	1.046%	11/15/2034	0.1%
HONO 2021-LULU Mortgage Trust	1.540%	10/15/2036	0.1%
CSAIL 2016-C7 Commercial Mortgage Trust	4.389%	11/15/2049	0.1%
New Jersey Educational Facilities Authority	3.636%	09/01/2029	0.1%
Planet Fitness Master Issuer LLC	3.858%	12/05/2049	0.1%
Tengizchevroil Finance Co International Ltd	3.250%	08/15/2030	0.1%
COMM 2015-PC1 Mortgage Trust	4.321%	07/10/2050	0.1%
GS Mortgage Securities Corp Trust 2018-RIVR	1.040%	07/15/2035	0.1%
Westlake Automobile Receivables Trust 2019-2	3.200%	11/15/2024	0.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp	4.500%	03/15/2027	0.1%
Hardee's Funding LLC	4.959%	06/20/2048	0.1%
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc	3.625%	03/01/2029	0.1%
CSMC 2020-AFC1 Trust	2.240%	02/25/2050	0.1%
Freddie Mac Multifamily Structured Pass Through Certificates	2.142%	02/25/2032	0.1%
Deephaven Residential Mortgage Trust 2020-2	1.692%	05/25/2065	0.1%
Cenovus Energy Inc	3.750%	02/15/2052	0.1%
Atrium Hotel Portfolio Trust 2018-ATRM	1.040%	06/15/2035	0.1%
Morgan Stanley	3.625%	01/20/2027	0.1%
Avolon Holdings Funding Ltd	4.250%	04/15/2026	0.1%
GM Financial Consumer Automobile Receivables Trust 2018-4	3.210%	10/16/2023	0.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN	2.020%	11/15/2035	0.1%
Regents of the University of California Medical Center Pooled Revenue	3.006%	05/15/2050	0.0%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC	4.625%	01/15/2027	0.0%
Verus Securitization Trust 2020-1	2.417%	01/25/2060	0.0%
ReadyCap Commercial Mortgage Trust 2019-6	2.833%	10/25/2052	0.0%
Kraft Heinz Foods Co	4.375%	06/01/2046	0.0%
HONO 2021-LULU Mortgage Trust	1.940%	10/15/2036	0.0%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp	4.875%	04/15/2045	0.0%
Towd Point Asset Trust 2018-SL1	0.689%	01/25/2046	0.0%
Carmax Auto Owner Trust 2020-1	2.340%	11/17/2025	0.0%
Mountain View CLO X Ltd	0.942%	10/13/2027	0.0%
PFP 2019-6 Ltd	1.138%	04/14/2037	0.0%
GS Mortgage Securities Trust 2015-GC32	4.422%	07/10/2048	0.0%
Massachusetts Educational Financing Authority	1.074%	04/25/2038	0.0%
CPS Auto Receivables Trust 2018-B	4.260%	03/15/2024	0.0%
COMM 2015-PC1 Mortgage Trust	4.321%	07/10/2050	0.0%
Avid Automobile Receivables Trust 2019-1	2.820%	07/15/2026	0.0%
BBCMS 2019-BWAY Mortgage Trust	1.400%	11/15/2034	0.0%
Ford Credit Auto Owner Trust 2020-B	0.500%	02/15/2023	0.0%
Foursight Capital Automobile Receivables Trust 2018-1	3.680%	08/15/2023	0.0%
County of Miami-Dade FL	2.786%	10/01/2037	0.0%
Citigroup Commercial Mortgage Trust 2016-P3	2.804%	04/15/2049	0.0%
Hardee's Funding LLC	5.710%	06/20/2048	0.0%
Deephaven Residential Mortgage Trust 2019-4	2.791%	10/25/2059	0.0%
Deephaven Residential Mortgage Trust 2020-1	2.339%	01/25/2060	0.0%
US LONG BOND(CBT) Dec21	0.000%	12/31/2021	0.0%
Pennsylvania Higher Education Assistance Agency	0.394%	04/25/2038	0.0%
Galaxy XXI CLO Ltd	1.152%	04/20/2031	0.0%
Flagship Credit Auto Trust 2020-2	1.490%	07/15/2024	0.0%
Starwood Mortgage Residential Trust 2020-1	2.275%	02/25/2050	0.0%
Citigroup Commercial Mortgage Trust 2014-GC21	1.151%	05/10/2047	0.0%
Angel Oak Mortgage Trust 2020-1	2.466%	12/25/2059	0.0%
BMW Vehicle Owner Trust 2020-A	0.390%	02/27/2023	0.0%
Diamond Resorts Owner Trust	4.110%	10/22/2029	0.0%
World Omni Auto Receivables Trust 2018-B	2.870%	07/17/2023	0.0%
KKR CLO 18 Ltd	3.722%	07/18/2030	0.0%
New Residential Mortgage Loan Trust 2020-NQM1	2.464%	01/26/2060	0.0%
GCAT 2019-NQM2 Trust	2.247%	01/25/2060	0.0%
Csail 2015-C2 Commercial Mortgage Trust	4.187%	06/15/2057	0.0%
WFRBS Commercial Mortgage Trust 2014-C23	0.562%	10/15/2057	0.0%
Westgate Resorts 2018-1 LLC	3.380%	12/20/2031	0.0%
Residential Mortgage Loan Trust 2020-1	2.376%	02/25/2024	0.0%
US 2YR NOTE (CBT) Dec21	0.000%	01/05/2022	0.0%
BlueMountain CLO 2015-2 Ltd	1.052%	07/18/2027	0.0%
Honda Auto Receivables 2020-2 Owner Trust	0.740%	11/15/2022	0.0%
US ULTRA BOND CBT Dec21	0.000%	12/31/2021	0.0%
Government National Mortgage Association	2.900%	02/16/2053	0.0%
Commercial Mortgage Backed Index Swap	3.000%	08/17/2061	0.0%
Commercial Mortgage Backed Index Swap	3.000%	08/17/2061	0.0%
Drive Auto Receivables Trust 2017-2	3.490%	09/15/2023	0.0%
Avid Automobile Receivables Trust 2019-1	2.620%	02/15/2024	0.0%
Commercial Mortgage Backed Index Swap	3.000%	08/17/2061	0.0%
Commercial Mortgage Backed Index Swap	3.000%	08/17/2061	0.0%
COMM 2014-CCRE19 Mortgage Trust	0.955%	08/10/2047	0.0%
Commercial Mortgage Backed Index Swap	3.000%	08/17/2061	0.0%
American Credit Acceptance Receivables Trust 2020-2	1.650%	12/13/2023	0.0%
Flagship Credit Auto Trust 2018-3	3.590%	12/16/2024	0.0%
Credit Index Swap	1.000%	12/20/2026	0.0%
Commercial Mortgage Backed Index Swap	3.000%	11/17/2059	0.0%

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

Dividend Payments

For

YTD Dividends Paidas of 12/06/2021: $0.131
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	11/30/2021	$0.01206	$11.14
Daily	Daily	10/31/2021	$0.01201	$11.12
Daily	Daily	09/30/2021	$0.01238	$11.14
Daily	Daily	08/31/2021	$0.01267	$11.24
Daily	Daily	07/31/2021	$0.01221	$11.27
Daily	Daily	06/30/2021	$0.01338	$11.18
Daily	Daily	05/31/2021	$0.01305	$11.10
Daily	Daily	04/30/2021	$0.01109	$11.08
Daily	Daily	03/31/2021	$0.01060	$11.00
Daily	Daily	02/28/2021	$0.01059	$11.14
Daily	Daily	01/31/2021	$0.01119	$11.29

Upcoming Dividend Payment Dates

Record Date	Ex-Dividend Date	Reinvest & Payable Date
Daily	Daily	12/31/2021

Capital Gains Distributions

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Click Here To View Estimated Capital Gain Distributions

For

Record Date	Reinvest & Payable Date	Long-term	Short-term *	Total	Reinvest Price
12/17/2020	12/18/2020	$0.0916	$0.2796	$0.3712	$11.31

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
12/16/2021	12/17/2021

Fees & Expenses

Sales Charge Schedule as of 12/06/2021

	Sales Charge	Dealer's Concession	Prices at Breakpoint
Less than $100,000	2.25%	2.00%	$11.41
$100,000 to $249,999	1.75%	1.50%	$11.35
$250,000 to $499,999	1.25%	1.00%	$11.29
$500,000 to $999,999	0.00%	1.00%	$11.15
$1,000,000 to $5,000,000	0.00%	1.00%	$11.15

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers Click here.

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

Rights of Accumulation - A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.
Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

purchases of $1 million or more (may be subject to a CDSC);
purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

Expense Ratioas of 11/30/2021

Fund Documents

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n/a	Portfolio Holdings 1Q Publish Date:11/03/2015
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	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
	Fixed Income Combo Flyer Publish Date:11/03/2015

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*Barron’s Overall Fund Family of 2020,” #7 overall ranking among 53 qualifying fund families based on the net total return of the one-year period ending 12/31/2020. Five-year overall ranking is #4 out of 50 qualifying fund families; and 10-year overall ranking is #21 out of 44 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2020,” February 20, 2021. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2020, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.

© Refinitiv Lipper 2021. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

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.

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.

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.

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.

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.

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

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 A Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

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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Securing a sustainable future forour clients, our people, and our world. Inspired by our mission, we are committed to creating long-term financial security for our clients, empowering our people, advancing our communities, and ensuring a vibrant future for our planet.

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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

Dividend Yield 1 as of 12/06/2021

30-Day Standardized Yield 2 as of 10/31/2021

Expense Ratioas of 11/30/2021

Fund Basicsas of 10/29/2021

Fund Expense Ratio :

0.60%

Fund Expense Ratio :

0.60%

Fund Expense Ratio :

0.60%

Fund Expense Ratio :

0.60%

Credit Quality Distribution as of 10/29/2021 View Portfolio

Investment Team

Contact a Representative

Performance

Performance

Dividend Yield 1 as of 12/06/2021

30-Day Standardized Yield 2 as of 10/31/2021

Fund Expense Ratio :

0.60%

Fund Expense Ratio :

0.60%

Fund Expense Ratio :

0.60%

Fund Expense Ratio :

0.60%

Growth of $10,000 as of 07/31/2021

NAV Historical Prices

Portfolio

Portfolio

Credit Quality Distribution as of 10/29/2021

Portfolio Positioning as of 9/30/2021

Portfolio Details as of 10/29/2021

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Upcoming Dividend Payment Dates

Capital Gains Distributions

Upcoming Capital Gain Distribution

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 12/06/2021

Expense Ratioas of 11/30/2021

Securing a sustainable future for
our clients, our people, and our world.

Inspired by our mission, we are committed to creating long-term financial security for our clients, empowering our people, advancing our communities, and ensuring a vibrant future for our planet.

Dividend Yield ¹ as of 12/06/2021

30-Day Standardized Yield ² as of 10/31/2021

Dividend Yield ¹ as of 12/06/2021

30-Day Standardized Yield ² as of 10/31/2021