LCRAX | Core Fixed Income Fund Class A | Lord Abbett
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Core Fixed Income Fund

Summary

Summary

What is the Core Fixed Income Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in U.S. investment grade corporate, government, and mortgage- and asset-backed securities.

 

Yield

Dividend Yield 1 as of 07/23/2021  

w/o sales charge 1.43%
w/ sales charge 1.39%

30-Day Standardized Yield 2 as of 06/30/2021  

1.04%

Expense Ratioas of 06/30/2021

Fund Basicsas of 06/30/2021

Total Net Assets
$2.01 B
Inception Date
08/31/2000
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
349
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 -0.79% 1.68% 5.37% 3.02% 3.37% 4.82%
Lipper Category Avg. Core Bond Funds -1.09% 1.62% 5.58% 3.32% 3.49% -
Bloomberg Barclays U.S. Aggregate Bond Index -1.60% -0.33% 5.34% 3.03% 3.39% 4.79%
w/ sales charge -3.01% -0.65% 4.58% 2.54% 3.14% 4.71%

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 -0.79% 1.68% 5.37% 3.02% 3.37% 4.82%
Lipper Category Avg. Core Bond Funds -1.09% 1.62% 5.58% 3.32% 3.49% -
Bloomberg Barclays U.S. Aggregate Bond Index -1.60% -0.33% 5.34% 3.03% 3.39% 4.79%
w/ sales charge -3.01% -0.65% 4.58% 2.54% 3.14% 4.71%

Fund Expense Ratio :

0.60%

Type Assets
U.S. Government Related
ABS
MBS
CLO
CMBS
Corporates
Sovereign
Bank Loans
Other
Cash
Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

Credit Quality Distribution as of 06/30/2021 View Portfolio

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

Investment Team

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

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

Partner & Portfolio Manager

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

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

Partner & Portfolio Manager

19 Years of Industry Experience

Harris Trifon
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

Performance

Dividend Yield 1 as of 07/23/2021  

w/o sales charge 1.43%
w/ sales charge 1.39%

30-Day Standardized Yield 2 as of 06/30/2021  

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

Fund Expense Ratio :

0.60%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge -0.79% 1.68% 5.37% 3.02% 3.37% 4.82%
Lipper Category Avg. Core Bond Funds -1.09% 1.62% 5.58% 3.32% 3.49% -
Bloomberg Barclays U.S. Aggregate Bond Index -1.60% -0.33% 5.34% 3.03% 3.39% 4.79%
w/ sales charge -3.01% -0.65% 4.58% 2.54% 3.14% 4.71%

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 -0.79% 1.68% 5.37% 3.02% 3.37% 4.82%
Lipper Category Avg. Core Bond Funds -1.09% 1.62% 5.58% 3.32% 3.49% -
Bloomberg Barclays U.S. Aggregate Bond Index -1.60% -0.33% 5.34% 3.03% 3.39% 4.79%
w/ sales charge -3.01% -0.65% 4.58% 2.54% 3.14% 4.71%

Fund Expense Ratio :

0.60%

Year Fund Returns Bloomberg Barclays 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% - - 0.00%
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%

Growth of $10,000 as of 06/30/2021

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
U.S. Government Related
ABS
MBS
CLO
CMBS
Corporates
Sovereign
Bank Loans
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 06/30/2021

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

Portfolio Positioning as of 3/31/2021

  • Over the quarter, we added to the quality and liquidity of the portfolio by adding exposure to high-quality asset-backed securities (ABS) and U.S. Treasuries. We believe structures within the ABS space offering exposure to consumer and auto loans, credit cards, and student loans should be particularly well positioned to benefit from the slow return to normalcy and post-pandemic world.
  • We sold agency mortgage-backed securities (MBS) to fund the purchases of ABS and U.S. Treasuries. We believe that MBS valuations are rich to full after the boom in the U.S. housing industry during social distancing, caused by increased demand and depressed supply.
  • We also decreased the portfolio’s allocation to investment grade corporate bonds as we believe valuations on specific issues are full.
  • While there are short-term volatility risks stemming from COVID-19, we believe economic fundamentals will have an upward trajectory in 2021 as vaccinations gradually reopen the economy and latent demand, dormant services, and consumer spending all begin to normalize to pre-pandemic levels. With the U.S. Federal Reserve’s new approach to monetary policy, an anchored short end of the yield curve, negative real yields, and very low volatility, the demand for risk can be very strong.

Portfolio Details as of 06/30/2021

Total Net Assets
$2.01 B
Number of Issues
349
Average Coupon
1.97%
Average Life
6.64 Years
Average Maturity
6.64 Years
Average Effective Duration
6.24 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 07/23/2021
$0.069
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
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 07/31/2021
Daily Daily 08/31/2021
Daily Daily 09/30/2021
Daily Daily 10/31/2021
Daily Daily 11/30/2021
Daily Daily 12/31/2021

Capital Gains 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

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/16/2021 12/17/2021

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 07/23/2021

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $11.52
$100,000 to $249,999 1.75% 1.50% $11.46
$250,000 to $499,999 1.25% 1.00% $11.40
$500,000 to $999,999 0.00% 1.00% $11.26
$1,000,000 to $5,000,000 0.00% 1.00% $11.26

Expense Ratioas of 06/30/2021

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
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The Barclays U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. 

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