LCRAX | Core Fixed Income Fund Class A | Lord Abbett

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(as of 12/05/2015)

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Core Fixed Income Fund

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Summary

Summary

What is the Core Fixed Income Fund?

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

 

Yield

Dividend Yield 1 as of 01/26/2023  

w/o sales charge 3.98%
w/ sales charge 3.89%

30-Day Standardized Yield 2 as of 12/31/2022  

4.18%

Average Yield to Worst as of 12/30/2022

5.18%

Expense Ratioas of 12/31/2022

Fund Basicsas of 12/30/2022

Total Net Assets
$2.23 B
Inception Date
08/31/2000
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
367
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge -13.65% -13.65% -2.61% -0.16% 0.82% 3.80%
Lipper Category Avg. Core Bond Funds -13.51% -13.51% -2.59% -0.04% 0.99% -
Bloomberg U.S. Aggregate Bond Index -13.01% -13.01% -2.71% 0.02% 1.06% 3.82%
w/ sales charge -15.56% -15.56% -3.33% -0.62% 0.59% 3.70%

Fund Expense Ratio :

0.58%

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge -13.65% -13.65% -2.61% -0.16% 0.82% 3.80%
Lipper Category Avg. Core Bond Funds -13.51% -13.51% -2.59% -0.04% 0.99% -
Bloomberg U.S. Aggregate Bond Index -13.01% -13.01% -2.71% 0.02% 1.06% 3.82%
w/ sales charge -15.56% -15.56% -3.33% -0.62% 0.59% 3.70%

Fund Expense Ratio :

0.58%

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

Credit Quality Distribution as of 12/30/2022 View Portfolio

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

Investment Team

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

28 Years of Industry Experience

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

Partner & Portfolio Manager

24 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

31 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

14 Years of Industry Experience

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

Partner & Portfolio Manager

21 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

22 Years of Industry Experience

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

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Performance

Performance

Dividend Yield 1 as of 01/26/2023  

w/o sales charge 3.98%
w/ sales charge 3.89%

30-Day Standardized Yield 2 as of 12/31/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 4.18% 4.18%

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge -13.65% -13.65% -2.61% -0.16% 0.82% 3.80%
Lipper Category Avg. Core Bond Funds -13.51% -13.51% -2.59% -0.04% 0.99% -
Bloomberg U.S. Aggregate Bond Index -13.01% -13.01% -2.71% 0.02% 1.06% 3.82%
w/ sales charge -15.56% -15.56% -3.33% -0.62% 0.59% 3.70%

Fund Expense Ratio :

0.58%

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge -13.65% -13.65% -2.61% -0.16% 0.82% 3.80%
Lipper Category Avg. Core Bond Funds -13.51% -13.51% -2.59% -0.04% 0.99% -
Bloomberg U.S. Aggregate Bond Index -13.01% -13.01% -2.71% 0.02% 1.06% 3.82%
w/ sales charge -15.56% -15.56% -3.33% -0.62% 0.59% 3.70%

Fund Expense Ratio :

0.58%

Year Fund Returns Bloomberg U.S. Aggregate Bond Index
2022 -13.65% -13.01%
2021 -0.89% -1.54%
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% -
2011 7.60% -
2010 6.66% -
2009 12.49% -
2008 1.12% -
2007 6.15% -
2006 3.97% -
2005 2.14% -
2004 3.71% -
2003 3.82% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 - - - - 3.19%
2022 -5.84% -5.20% -4.83% 1.65% -13.65%
2021 -2.72% 1.98% -0.03% -0.07% -0.89%
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 07/31/2021

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
U.S. Government Related
MBS
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 12/30/2022

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

Portfolio Positioning as of 12/31/2022

  • During the quarter we focused on shifting the Fund’s overall positioning to be higher in quality and liquidity. Specifically, we used less volatile market days to take gains in lower quality holdings and repositioned the portfolio to a higher quality profile.
  • We reduced the Fund’s exposure to CMBS over the period. 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. Recently, we have been adding agency-backed CMBS due to our up-in-quality preference and the sector’s relative value.
  • We reduced lower-quality ABS exposure and identified opportunities to sell positions that outperformed during the period. 
  • We reduced the Fund’s exposure to MBS over the period based on relative value considerations.
  • We increased the Fund’s exposure to investment grade corporate bonds over the period. We added to Healthcare, Utilities, and Telecommunications as we sought defensive, non-cyclical sectors of the market. The Energy sector also remains a large active weight. The energy allocation reflects our view that the industry as a whole is in a position to benefit even if prices were much lower than they are today. We feel that this, in addition to improving credit fundamentals, is not appropriately reflected in credit ratings. Additionally, we continue to focus on companies that are deleveraging with solid operating fundamentals.
  • We also reduced the Fund’s exposure to Bank Loans over the period.

Portfolio Details as of 12/30/2022

Total Net Assets
$2.23 B
Number of Issues
367
Average Coupon
3.88%
Average Life
7.81 Years
Average Maturity
7.81 Years
Average Effective Duration
6.06 Years
Average Yield to Worst
5.18%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 01/26/2023
$0
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 12/31/2022 $0.03162 $9.27
Daily Daily 11/30/2022 $0.03033 $9.34
Daily Daily 10/31/2022 $0.02949 $9.06
Daily Daily 09/30/2022 $0.02752 $9.21
Daily Daily 08/31/2022 $0.02820 $9.67
Daily Daily 07/31/2022 $0.02563 $9.95
Daily Daily 06/30/2022 $0.02237 $9.76
Daily Daily 05/31/2022 $0.02104 $9.97
Daily Daily 04/30/2022 $0.01864 $9.99
Daily Daily 03/31/2022 $0.01770 $10.36
Daily Daily 02/28/2022 $0.01440 $10.70
Daily Daily 01/31/2022 $0.01348 $10.83

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 01/31/2023
Daily Daily 02/28/2023
Daily Daily 03/31/2023
Daily Daily 04/30/2023
Daily Daily 05/31/2023
Daily Daily 06/30/2023
Daily Daily 07/31/2023
Daily Daily 08/31/2023
Daily Daily 09/30/2023
Daily Daily 10/31/2023
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

Sales Charge Schedule as of 01/26/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $9.76
$100,000 to $249,999 1.75% 1.50% $9.71
$250,000 to $499,999 1.25% 1.00% $9.66
$500,000 to $999,999 0.00% 1.00% $9.54
$1,000,000 to $5,000,000 0.00% 1.00% $9.54

Expense Ratioas of 12/31/2022

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
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Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Publish Date:11/03/2015

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

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