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Core Fixed Income Fund

Daily price w/o sales charge as of 08/06/2020

$11.76

arrowUp$0.02

YTD Returns w/o sales charge as of 08/06/2020

7.71%

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

Click here to view all legal text including risk information

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 08/06/2020  

w/o sales charge 1.97%
w/ sales charge 1.93%

30-Day Standardized Yield 2 as of 06/30/2020  

1.24%

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

Expense Ratioas of 07/31/2020

Fund Basicsas of 06/30/2020

Total Net Assets
$1.84 B
Inception Date
08/31/2000
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
472
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

0.64%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 7.49% 9.23% 5.10% 3.96% 3.72% 5.07%
Lipper Category Avg. Core Bond Funds 7.30% 9.47% 5.30% 4.25% 3.87% -
Bloomberg Barclays U.S. Aggregate Bond Index 7.72% 10.12% 5.69% 4.47% 3.87% 5.11%
w/ sales charge 5.12% 6.80% 4.31% 3.49% 3.48% 4.95%

Fund Expense Ratio :

0.64%

Fund Expense Ratio :

0.64%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 5.31% 7.33% 4.54% 3.65% 3.61% 4.98%
Lipper Category Avg. Core Bond Funds 5.40% 7.83% 4.82% 3.98% 3.81% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.14% 8.74% 5.32% 4.30% 3.82% 5.06%
w/ sales charge 2.98% 4.94% 3.76% 3.18% 3.38% 4.86%

Fund Expense Ratio :

0.64%

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
MBS
U.S. Government Related
ABS
CMBS
Corporates
Sovereign
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 06/30/2020 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

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 & Chief Investment Officer

29 Years of Industry Experience

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

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Dividend Yield 1 as of 08/06/2020  

w/o sales charge 1.97%
w/ sales charge 1.93%

30-Day Standardized Yield 2 as of 06/30/2020  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.24% 1.24%

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

Fund Expense Ratio :

0.64%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 7.49% 9.23% 5.10% 3.96% 3.72% 5.07%
Lipper Category Avg. Core Bond Funds 7.30% 9.47% 5.30% 4.25% 3.87% -
Bloomberg Barclays U.S. Aggregate Bond Index 7.72% 10.12% 5.69% 4.47% 3.87% 5.11%
w/ sales charge 5.12% 6.80% 4.31% 3.49% 3.48% 4.95%

Fund Expense Ratio :

0.64%

Fund Expense Ratio :

0.64%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 5.31% 7.33% 4.54% 3.65% 3.61% 4.98%
Lipper Category Avg. Core Bond Funds 5.40% 7.83% 4.82% 3.98% 3.81% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.14% 8.74% 5.32% 4.30% 3.82% 5.06%
w/ sales charge 2.98% 4.94% 3.76% 3.18% 3.38% 4.86%

Fund Expense Ratio :

0.64%

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.

Year Fund Returns Bloomberg Barclays U.S. Aggregate Bond Index
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% 6.54%
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% -
2000 5.70% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 1.63% 3.62% - - 7.71%
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 07/31/2020

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

Portfolio

Rating Assets
MBS
U.S. Government Related
ABS
CMBS
Corporates
Sovereign
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 06/30/2020

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.

Portfolio Positioning as of 6/30/2020

  • Over the quarter the largest change in the portfolio composition was a decrease in the U.S. Treasury allocation. With rates rallying in the first quarter as investors flocked into Treasuries and moved out of corporate credit, we saw an opportunity to sell Treasuries in order to seek to take advantage of attractive relative value in risk-on sectors.
  • We used the proceeds from sales of U.S. Treasuries and added to the portfolio’s allocation to investment grade corporate credit. Most notably, we added to corporate issues within consumer non-cyclical and technology sectors. We believe these sectors will continue to benefit from the gradual re-opening of the economy.
  • We believe valuations currently are fair given an expected resumption of economic activity in 2021, albeit a slow and modest one. We believe that the environment that the Fed has created of low volatility and perpetually lower rates will be supportive of a search-for-yield environment where spread valuations can tighten further.

Portfolio Details as of 06/30/2020

Total Net Assets
$1.84 B
Number of Issues
472
Average Coupon
3.07%
Average Life
7.97 Years
Average Maturity
-
Average Effective Duration
6.12 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
30-YR UMBS-TBA PROD JUL 4.000% 04/01/2047 13.2%
U.S. Treasury Note/Bond 2.500% 01/31/2021 12.4%
30-YR UMBS-TBA PROD JUL 3.500% 12/01/2046 7.1%
U.S. Treasury Note/Bond 0.125% 06/30/2022 3.9%
U.S. Treasury Note/Bond 3.625% 08/15/2043 3.1%
30-YR UMBS-TBA PROD JUL 3.000% 10/01/2045 2.5%
U.S. Treasury Note/Bond 1.250% 05/15/2050 2.3%
30-YR UMBS-TBA PROD JUL 2.500% 10/01/2045 2.0%
U.S. Treasury Note/Bond 0.250% 04/15/2023 2.0%
U.S. Treasury Note/Bond 2.750% 11/15/2047 1.7%
% of Total Assets 50.2%
Holding Coupon Maturity Assets
30-YR UMBS-TBA PROD JUL4.000% 04/01/204712.7%
U.S. Treasury Note/Bond2.500% 01/31/202111.9%
30-YR UMBS-TBA PROD JUL3.500% 12/01/20466.8%
J.P.Morgan Securities LLC0.010% -4.3%
U.S. Treasury Note/Bond0.125% 06/30/20223.7%
U.S. Treasury Note/Bond3.625% 08/15/20433.0%
30-YR UMBS-TBA PROD JUL3.000% 10/01/20452.4%
U.S. Treasury Note/Bond1.250% 05/15/20502.2%
30-YR UMBS-TBA PROD JUL2.500% 10/01/20451.9%
U.S. Treasury Note/Bond0.250% 04/15/20231.9%
U.S. Treasury Note/Bond2.750% 11/15/20471.7%
U.S. Treasury Note/Bond0.250% 06/30/20251.6%
Federal National Mortgage Assoc.3.500% 09/01/20471.1%
U.S. Treasury Note0.125% 04/15/20250.9%
JPMorgan Chase & Co.3.782% 02/01/20280.8%
Walgreen Co.3.800% 11/18/20240.7%
Federal National Mortgage Assoc.3.500% 03/01/20500.6%
Palmer Square Loan Funding 2018-1 Ltd1.819% 04/15/20260.6%
Bank of America Corp.3.593% 07/21/20280.6%
Westlake Automobile Receivables Trust 2020-20.930% 02/15/20240.6%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20360.6%
U.S. Treasury Note/Bond1.125% 05/15/20400.6%
AbbVie, Inc.4.250% 11/21/20490.5%
Citigroup, Inc.2.666% 01/29/20310.5%
Biogen Idec, Inc.2.250% 05/01/20300.5%
Broadcom Inc3.150% 11/15/20250.5%
CVS Caremark Corp.3.875% 07/20/20250.5%
Parallel 2015-1 Ltd1.985% 07/20/20270.5%
NiSource, Inc.3.490% 05/15/20270.4%
Ford Credit Auto Owner Trust 2020-B0.500% 02/15/20230.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
Bayer US Finance II LLC3.875% 12/15/20230.4%
United States Treasury Bill0.000% 07/30/20200.4%
PayPal Holdings, Inc.2.850% 10/01/20290.4%
Wells Fargo Bank, N.A.5.850% 02/01/20370.4%
Volkswagen Group of America Finance LLC3.125% 05/12/20230.4%
Stryker Corp.1.950% 06/15/20300.4%
Upjohn Inc2.300% 06/22/20270.4%
HCA, Inc.5.500% 06/15/20470.4%
General Motors Co.6.600% 04/01/20360.4%
Alcon Finance Corp2.600% 05/27/20300.4%
Hyundai Auto Receivables Trust 2017-B1.960% 02/15/20230.4%
Vista Point Securitization Trust 2020-11.763% 03/25/20650.4%
Ford Credit Auto Owner Trust 2019-C1.880% 07/15/20220.4%
Cargill Inc2.125% 04/23/20300.4%
Ally Financial, Inc.8.000% 11/01/20310.4%
Bayer US Finance II LLC4.375% 12/15/20280.3%
DTE Electric Co2.625% 03/01/20310.3%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.3%
General Electric Co.6.150% 08/07/20370.3%
Morgan Stanley3.875% 01/27/20260.3%
Schlumberger Holdings Corp.4.300% 05/01/20290.3%
CPS Auto Receivables Trust 2020-B1.150% 07/17/20230.3%
Ameren Corp.3.500% 01/15/20310.3%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.3%
ENI SpA5.700% 10/01/20400.3%
AT&T, Inc.6.000% 08/15/20400.3%
UnitedHealth Group, Inc.6.875% 02/15/20380.3%
Great Wolf Trust 2019-WOLF1.219% 12/15/20360.3%
Kansas City Southern3.500% 05/01/20500.3%
AerCap Ireland Capital Ltd.3.875% 01/23/20280.3%
Honda Auto Receivables 2017-4 Owner Trust2.210% 03/21/20240.3%
NXP BV / NXP Funding LLC / NXP USA Inc3.150% 05/01/20270.3%
Volkswagen Auto Loan Enhanced Trust 2020-10.930% 12/20/20220.3%
Boeing Co.4.875% 05/01/20250.3%
United Technologies Corp.2.250% 07/01/20300.3%
Drive Auto Receivables Trust5.300% 07/15/20240.3%
BAE Systems plc3.400% 04/15/20300.3%
Santander Drive Auto Receivables Trust 2016-24.380% 09/15/20230.3%
Boston Scientific Corp.2.650% 06/01/20300.3%
Catholic Health Initiatives3.347% 10/01/20290.3%
BMW US Capital LLC3.900% 04/09/20250.3%
D.R. Horton, Inc.2.600% 10/15/20250.3%
Goldman Sachs Group, Inc.2.557% 10/31/20220.3%
Zimmer Biomet Holdings, Inc.3.550% 04/01/20250.3%
Barclays Dryrock Issuance Trust0.485% 05/15/20230.3%
Dominion Resources, Inc.3.375% 04/01/20300.3%
Bank of America Corp.4.250% 10/22/20260.3%
Boeing Co.5.040% 05/01/20270.3%
Drive Auto Receivables Trust4.530% 08/15/20230.3%
Citigroup, Inc.3.887% 01/10/20280.3%
Time Warner Cable LLC7.300% 07/01/20380.3%
CVS Caremark Corp.3.625% 04/01/20270.3%
Exelon Generation Co. LLC3.250% 06/01/20250.3%
Federal National Mortgage Assoc.4.000% 01/01/20480.3%
JP Morgan Chase Commercial Mortgage Securities Tru1.124% 07/05/20330.3%
Ellington Financial Mortgage Trust 2020-12.006% 06/25/20650.3%
Deephaven Residential Mortgage Trust 2020-21.692% 05/25/20650.3%
GM Financial Consumer Automobile Receivables Trust3.210% 10/16/20230.2%
Toronto-Dominion Bank3.625% 09/15/20310.2%
Berkshire Hathaway Energy Co.3.800% 07/15/20480.2%
Kayne CLO 7 Ltd2.607% 04/17/20330.2%
ME Funding LLC 2019-16.448% 07/30/20490.2%
Avolon Holdings Funding Ltd5.250% 05/15/20240.2%
Saudi Government International Bond3.250% 10/26/20260.2%
Ohio Edison Co.8.250% 10/15/20380.2%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.2%
Ford Credit Floorplan Master Owner Trust A2.160% 09/15/20220.2%
Tencent Holdings Ltd.3.595% 01/19/20280.2%
BX Commercial Mortgage Trust 2018-BIOA0.856% 03/15/20370.2%
Quest Diagnostics, Inc.2.800% 06/30/20310.2%
Emera US Finance L.P.4.750% 06/15/20460.2%
SCF Equipment Leasing 2019-1 LLC3.920% 11/20/20260.2%
Hilton Orlando Trust 2018-ORL0.955% 12/15/20340.2%
Verus Securitization Trust 2020-INV11.977% 04/25/20600.2%
SOUND POINT CLO XVII2.735% 10/20/20300.2%
AT&T, Inc.4.300% 02/15/20300.2%
Becton, Dickinson & Co.2.894% 06/06/20220.2%
BMW Vehicle Owner Trust 2019-A2.050% 05/25/20220.2%
Wells Fargo & Co.3.000% 10/23/20260.2%
AmeriCredit Automobile Receivables 2016-13.590% 02/08/20220.2%
Federal Home Loan Mortgage Corp.4.000% 10/01/20490.2%
Shackleton 2019-XIV Clo Ltd3.035% 07/20/20300.2%
BAT Capital Corp4.390% 08/15/20370.2%
Park Aerospace Holdings Ltd5.500% 02/15/20240.2%
Comcast Corp.4.950% 10/15/20580.2%
U.S. Treasury Note/Bond2.375% 11/15/20490.2%
Westlake Automobile Receivables Trust 2020-12.520% 04/15/20250.2%
NVR, Inc.3.000% 05/15/20300.2%
Zimmer Biomet Holdings, Inc.5.750% 11/30/20390.2%
WEA Finance LLC2.875% 01/15/20270.2%
Anglo American Capital plc4.750% 04/10/20270.2%
Kraft Heinz Foods Co.3.750% 04/01/20300.2%
Ford Motor Co.9.000% 04/22/20250.2%
Occidental Petroleum Corp.2.700% 02/15/20230.2%
Nvent Finance Sarl4.550% 04/15/20280.2%
Anthem, Inc.2.250% 05/15/20300.2%
CSC Holdings LLC6.500% 02/01/20290.2%
Qtel International Finance Ltd.3.750% 06/22/20260.2%
Apache Corp.4.750% 04/15/20430.2%
Macquarie Group Ltd.4.654% 03/27/20290.2%
Visa, Inc.1.900% 04/15/20270.2%
CCO Holdings LLC / CCO Holdings Capital Corp.4.750% 03/01/20300.2%
Western Digital Corp.4.750% 02/15/20260.2%
Netflix, Inc.6.375% 05/15/20290.2%
Benefit Street Partners CLO IV Ltd2.385% 01/20/20290.2%
Freeport-McMoRan, Inc.4.125% 03/01/20280.2%
BMW US Capital LLC3.800% 04/06/20230.2%
Glencore Finance Canada Ltd.5.550% 10/25/20420.2%
BAT Capital Corp3.557% 08/15/20270.2%
Halliburton Co.7.450% 09/15/20390.2%
Exelon Generation Co. LLC5.600% 06/15/20420.2%
Dell International LLC / EMC Corp6.020% 06/15/20260.2%
Oracle Corp.6.125% 07/08/20390.2%
Salem Fields CLO Ltd 2016-22.141% 10/25/20280.2%
Xylem, Inc.1.950% 01/30/20280.2%
AbbVie, Inc.3.250% 10/01/20220.2%
Capital One Multi-Asset Execution Trust2.060% 08/15/20280.2%
ALM VII Ltd3.069% 07/15/20290.2%
Citibank Credit Card Issuance Trust2.490% 01/20/20230.2%
Credit Index Swap5.000% 06/20/20250.2%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.2%
IDEX Corp.3.000% 05/01/20300.2%
COMM Mortgage Trust4.577% 07/10/20500.2%
Santander UK plc7.950% 10/26/20290.2%
Verus Securitization Trust 2020-12.417% 01/25/20600.2%
Anheuser-Busch InBev Worldwide, Inc.3.500% 06/01/20300.2%
BX Trust 2019-OC113.202% 12/09/20410.2%
Ameriprise Financial, Inc.3.000% 04/02/20250.2%
National Oilwell Varco, Inc.3.600% 12/01/20290.2%
Deephaven Residential Mortgage Trust 2019-32.964% 07/25/20590.2%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.875% 01/15/20270.2%
World Financial Network Credit Card Master Trust2.210% 07/15/20260.2%
Government National Mortgage Association2.900% 02/16/20490.2%
Hyundai Auto Receivables Trust 2017-A2.530% 11/15/20230.2%
AT&T, Inc.6.250% 03/29/20410.2%
BX Trust 2018-GW0.985% 05/15/20350.2%
Drive Auto Receivables Trust 2017-23.490% 09/15/20230.2%
Honda Auto Receivables 2020-2 Owner Trust0.740% 11/15/20220.2%
Palmer Square Loan Funding 2020-1 Ltd1.177% 02/20/20280.2%
Exelon Corp.4.050% 04/15/20300.2%
Ford Credit Floorplan Master Owner Trust A2.390% 08/15/20220.2%
Angel Oak Mortgage Trust I LLC 2019-42.993% 07/26/20490.2%
Continental Resources, Inc.5.000% 09/15/20220.2%
Marble Point CLO XVII Ltd2.196% 04/20/20330.1%
Santander Drive Auto Receivables Trust 2016-15.020% 06/15/20230.1%
National Securities Clearing Corp1.500% 04/23/20250.1%
CarMax Auto Owner Trust 2017-31.970% 04/15/20220.1%
Synchrony Credit Card Master Note Trust2.210% 05/15/20240.1%
Dell International LLC / EMC Corp.8.350% 07/15/20460.1%
Shell International Finance BV6.375% 12/15/20380.1%
JP Morgan Chase Commercial Mortgage Securities Tru1.185% 06/15/20320.1%
General Electric Co.1.741% 03/15/20230.1%
Republic of Indonesia3.400% 09/18/20290.1%
Capital One Multi-Asset Execution Trust1.769% 05/15/20280.1%
AerCap Ireland Capital Ltd.3.500% 01/15/20250.1%
Mountain View CLO 2017-1 LLC2.266% 10/16/20290.1%
Perimeter Master Note Business Trust4.310% 12/15/20220.1%
Advocate Health & Hospitals Corp3.387% 10/15/20490.1%
JPMBB Commercial Mortgage Securities Trust4.411% 07/15/20480.1%
Drive Auto Receivables Trust 2018-24.140% 08/15/20240.1%
Intuit, Inc.1.350% 07/15/20270.1%
New Residential Mortgage Loan Trust 2019-NQM32.802% 07/25/20490.1%
Exeter Automobile Receivables Trust 2020-21.130% 08/15/20230.1%
Octagon Investment Partners 29 Ltd2.200% 01/24/20330.1%
Octagon Investment Partners 25 Ltd1.935% 10/20/20260.1%
Amazon.com, Inc.2.500% 06/03/20500.1%
JFIN CLO 2014 Ltd2.585% 04/21/20250.1%
Aqua America, Inc.3.566% 05/01/20290.1%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.1%
Kookmin Bank1.750% 05/04/20250.1%
Michigan Fin Auth3.084% 12/01/20340.1%
COMM 2014-UBS4 Mortgage Trust4.863% 08/10/20470.1%
Berkshire Hathaway Finance Corp.1.850% 03/12/20300.1%
SLC Student Loan Trust 2008-11.913% 12/15/20320.1%
Federal National Mortgage Assoc.3.500% 09/01/20470.1%
Carlisle Cos., Inc.2.750% 03/01/20300.1%
California Republic Auto Receivables Trust 2018-13.560% 03/15/20230.1%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.1%
World Omni Auto Receivables Trust 2018-B2.870% 07/17/20230.1%
JP Morgan Chase Commercial Mortgage Securities Tru1.485% 06/15/20320.1%
Hudsons Bay Simon JV Trust4.666% 08/05/20340.1%
PSEG Power LLC8.625% 04/15/20310.1%
American Credit Acceptance Receivables Trust 2019-3.050% 05/12/20230.1%
Citigroup, Inc.4.450% 09/29/20270.1%
TAL Advantage VI LLC4.500% 04/20/20420.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
Massachusetts Sch Bldg Auth3.395% 10/15/20400.1%
UnitedHealth Group, Inc.3.500% 08/15/20390.1%
COMM 2015-DC1 Mortgage Trust4.454% 02/10/20480.1%
SCF Equipment Leasing 2019-2 LLC3.110% 06/21/20270.1%
BSPRT 2018-FL4 Issuer Ltd1.235% 09/15/20350.1%
Entergy Louisiana LLC4.000% 03/15/20330.1%
Ares XLI Clo Ltd3.019% 01/15/20290.1%
Goldman Sachs Group, Inc.1.110% 02/23/20230.1%
Saudi Arabian Oil Co2.875% 04/16/20240.1%
JPMorgan Chase & Co.4.600% 12/31/20990.1%
KKR CLO 18 Ltd2.835% 07/18/20300.1%
SURA Asset Management SA4.875% 04/17/20240.1%
Walgreen Co.3.200% 04/15/20300.1%
Northwell Healthcare, Inc.3.979% 11/01/20460.1%
Baxter International, Inc.3.750% 10/01/20250.1%
Bank of America Corp.3.970% 03/05/20290.1%
Dominion Gas Holdings LLC4.600% 12/15/20440.1%
TPG Real Estate Finance 2018-FL2 Issuer LTD1.314% 11/15/20370.1%
Deephaven Residential Mortgage Trust 2019-42.791% 10/25/20590.1%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor3.138% 11/07/20290.1%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.1%
Bank of America Corp.4.000% 01/22/20250.1%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.1%
Pennsylvania Electric Co.3.600% 06/01/20290.1%
Westlake Automobile Receivables Trust 2019-23.060% 02/15/20230.1%
Citigroup, Inc.1.678% 05/15/20240.1%
Bayer Corp6.650% 02/15/20280.1%
Hardee's Funding LLC5.710% 06/20/20480.1%
Orec 2018-CRE1 Ltd1.365% 06/15/20360.1%
UBS AG Registered Shares5.125% 05/15/20240.1%
Quicken Loans LLC5.250% 01/15/20280.1%
American Credit Acceptance Receivables Trust 2020-1.650% 12/13/20230.1%
Owens Corning3.950% 08/15/20290.1%
DBWF 2018-GLKS Mortgage Trust1.224% 12/19/20300.1%
Drive Auto Receivables Trust 2017-15.170% 09/16/20240.1%
Cleco Corp.4.973% 05/01/20460.1%
Springleaf Finance Corp.6.125% 03/15/20240.1%
Western Gas Partners L.P.3.100% 02/01/20250.1%
Centene Corp.3.375% 02/15/20300.1%
Quicken Loans LLC5.750% 05/01/20250.1%
CSAIL 2019-C18 Commercial Mortgage Trust3.321% 12/15/20520.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
New Jersey Edl Facs Auth3.836% 09/01/20360.1%
Permanent Univ Fnd - Texas A&M Univ Sys3.660% 07/01/20470.1%
Roper Industries, Inc.3.650% 09/15/20230.1%
LifePoint Hospitals, Inc.4.375% 02/15/20270.1%
AMC Networks, Inc.4.750% 08/01/20250.1%
Statoil ASA7.150% 11/15/20250.1%
Albertsons Cos Inc / Safeway Inc / New Albertsons4.625% 01/15/20270.1%
Jamestown CLO IX Ltd3.785% 10/20/20280.1%
UnitedHealth Group, Inc.2.900% 05/15/20500.1%
Honda Auto Receivables 2019-1 Owner Trust2.750% 09/20/20210.1%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.1%
Longtrain Leasing III LLC 2015-14.060% 01/15/20450.1%
Navient Corp.6.750% 06/15/20260.1%
PFP 2019-6 Ltd1.244% 04/14/20370.1%
Branch Banking & Trust Co.2.250% 03/11/20300.1%
South Carolina Electric & Gas Co.6.050% 01/15/20380.1%
AstraZeneca plc4.375% 08/17/20480.1%
Leidos, Inc.2.950% 05/15/20230.1%
First Investors Auto Owner Trust 2019-22.710% 12/15/20250.1%
JPMorgan Chase & Co.3.540% 05/01/20280.1%
United Rentals, Inc.4.000% 07/15/20300.1%
Northwoods Capital 20 Ltd6.151% 01/25/20300.1%
Sysco Corp.2.400% 02/15/20300.1%
Foothill-Eastern Transp Corridor Agy, CA4.094% 01/15/20490.1%
eBay, Inc.1.900% 03/11/20250.1%
KVK CLO 2016-1 Ltd4.369% 01/15/20290.1%
Goldman Sachs Group, Inc.6.750% 10/01/20370.1%
Trillium Credit Card Trust II0.530% 09/26/20230.1%
CF Trust 2019-BOSS3.435% 12/15/20210.1%
Jamestown CLO VII Ltd.3.591% 07/25/20270.1%
Empresa Nacional del Petroleo3.750% 08/05/20260.1%
Avid Automobile Receivables Trust 2019-12.620% 02/15/20240.1%
Foursight Capital Automobile Receivables Trust 2013.680% 08/15/20230.1%
Sound Point Clo XII Ltd3.735% 10/20/20280.1%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.1%
Entergy Louisiana LLC2.900% 03/15/20510.1%
BAT Capital Corp4.700% 04/02/20270.1%
Capital Auto Receivables Asset Trust 2018-23.690% 12/20/20230.1%
New Jersey Edl Facs Auth3.636% 09/01/20290.1%
California7.625% 03/01/20400.1%
Federal Home Loan Mortgage Corp.2.206% 02/25/20320.1%
Neuberger Berman CLO XX Ltd2.019% 01/15/20280.1%
SCF Equipment Leasing 2019-1 LLC3.230% 10/20/20240.1%
Avery Point VII CLO Ltd2.969% 01/15/20280.1%
BBCMS 2019-BWAY Mortgage Trust1.141% 11/25/20340.1%
Flagship Credit Auto Trust 2018-33.590% 12/16/20240.1%
Cigna Corp1.493% 09/17/20210.1%
Northwoods Capital 20 Ltd4.701% 01/25/20300.1%
Entergy Texas, Inc.4.000% 03/30/20290.1%
Mountain View CLO X Ltd2.131% 10/13/20270.1%
CSMC Series 2019-UVIL3.160% 12/15/20410.1%
Mountain View CLO X Ltd2.661% 10/13/20270.1%
Hudsons Bay Simon JV Trust5.331% 08/05/20340.1%
Baidu, Inc.3.075% 04/07/20250.1%
Oglethorpe Power Corp.5.950% 11/01/20390.1%
Towd Point Asset Trust 2018-SL10.768% 01/25/20460.1%
Banco de Credito e Inversiones3.500% 10/12/20270.1%
Wells Fargo Commercial Mortgage Trust4.240% 05/15/20480.1%
Constellation Brands, Inc.2.875% 05/01/20300.1%
Flagship Credit Auto Trust 2020-21.490% 07/15/20240.1%
Huntington Ingalls Industries, Inc.3.844% 05/01/20250.1%
General Electric Co.2.121% 05/05/20260.1%
World Omni Auto Receivables Trust 2017-A1.930% 09/15/20220.1%
CNAC HK Finbridge Co Ltd3.500% 07/19/20220.1%
Drive Auto Receivables Trust3.720% 09/16/20240.1%
JD.com, Inc.3.375% 01/14/20300.1%
Tralee CLO III Ltd2.165% 10/20/20270.1%
Westlake Automobile Receivables Trust 2019-23.200% 11/15/20240.1%
GS Mortgage Securities Corp Trust 2018-RIVR1.135% 07/15/20350.1%
ReadyCap Commercial Mortgage Trust 2019-62.833% 10/25/20520.1%
BorgWarner, Inc.2.650% 07/01/20270.1%
Longfor Properties Co. Ltd.4.500% 01/16/20280.1%
Hyundai Auto Receivables Trust 2019-B1.930% 07/15/20220.1%
PayPal Holdings, Inc.3.250% 06/01/20500.1%
Neuberger Berman Group LLC4.500% 03/15/20270.1%
Oklahoma Gas and Electric3.300% 03/15/20300.1%
Flagship Credit Auto Trust 2018-33.070% 02/15/20230.1%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.1%
Republic of Peru2.392% 01/23/20260.1%
Deephaven Residential Mortgage Trust 2020-12.339% 01/25/20600.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Genesis Sales Finance Master Trust Series 2019-A4.680% 08/20/20230.1%
Planet Fitness Master Issuer LLC3.858% 12/05/20490.1%
Mercedes-Benz Auto Lease Trust 2019-A3.100% 11/15/20210.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.625% 01/15/20240.1%
Snap-on, Inc.3.100% 05/01/20500.1%
Morgan Stanley3.625% 01/20/20270.1%
Carmax Auto Owner Trust 2019-32.210% 12/15/20220.1%
Hyundai Floorplan Master Owner Trust2.680% 04/15/20240.1%
DRB Prime Student Loan Trust3.200% 01/25/20400.1%
Cedar Funding VI CLO Ltd2.735% 10/20/20280.1%
Statoil ASA1.750% 01/22/20260.1%
CoStar Group, Inc.2.800% 07/15/20300.1%
Navient Private Education Refi Loan Trust 2018-D4.000% 12/15/20590.1%
Ally Master Owner Trust0.505% 07/15/20220.1%
Healthcare Realty Trust, Inc.2.400% 03/15/20300.1%
Micron Technology, Inc.2.497% 04/24/20230.1%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.1%
Bank of America Corp.4.450% 03/03/20260.1%
Sound Point Clo XV Ltd3.543% 01/23/20290.1%
Atrium Hotel Portfolio Trust 2018-ATRM1.135% 06/15/20350.1%
PFS Financing Corp.3.080% 02/15/20230.1%
Wells Fargo Commercial Mortgage Trust 2016-NXS55.136% 01/15/20590.1%
Shackleton 2016-IX CLO Ltd3.035% 10/20/20280.1%
CSAIL 2016-C7 Commercial Mortgage Trust4.533% 11/15/20490.1%
Sysco Corp.6.600% 04/01/20400.1%
Avery Point VII CLO Ltd3.669% 01/15/20280.1%
Qatar Government International Bond5.103% 04/23/20480.1%
CNAC HK Finbridge Co Ltd3.875% 06/19/20290.1%
Diamondback Energy, Inc.4.750% 05/31/20250.1%
CPS Auto Receivables Trust 2018-B4.260% 03/15/20240.1%
Univ of California Bd of Regents3.006% 05/15/20500.1%
Ford Credit Auto Owner Trust 2020-A1.030% 10/15/20220.1%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.1%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr2.020% 11/15/20350.1%
Foursight Capital Automobile Receivables Trust 2013.530% 04/17/20230.1%
Northern Natural Gas4.300% 01/15/20490.1%
California7.300% 10/01/20390.1%
Palmer Square Loan Funding 2018-1 Ltd2.269% 04/15/20260.1%
Massachusetts Educational Financing Authority1.941% 04/25/20380.0%
Abu Dhabi Crude Oil Pipeline LLC4.600% 11/02/20470.0%
Drive Auto Receivables Trust4.160% 05/15/20240.0%
NRG Energy, Inc.5.250% 06/15/20290.0%
Adventist Health System/West2.952% 03/01/20290.0%
COMM Mortgage Trust4.577% 07/10/20500.0%
California Hlth Facs Fing Auth3.034% 06/01/20340.0%
MPT Operating Partnership L.P.5.000% 10/15/20270.0%
JB y Co SA de CV3.750% 05/13/20250.0%
South Carolina Electric & Gas Co.6.625% 02/01/20320.0%
Santander Retail Auto Lease Trust 2019-B2.290% 04/20/20220.0%
ALM VII Ltd4.769% 07/15/20290.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
Chesapeake Funding II LLC1.910% 08/15/20290.0%
Pulte Group, Inc.6.375% 05/15/20330.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
PHEAA Student Loan Trust I1.261% 04/25/20380.0%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.0%
Anglo American Capital plc3.625% 09/11/20240.0%
Neuberger Berman Group LLC4.875% 04/15/20450.0%
Avery Point CLO Ltd.2.591% 04/25/20260.0%
COMM 2016-COR1 Mortgage Trust3.494% 10/10/20490.0%
Minejesa Capital BV4.625% 08/10/20300.0%
Pepperdine University3.301% 12/01/20590.0%
Adani Ports & Special Economic Zone Ltd4.000% 07/30/20270.0%
Palmer Square Loan Funding 2018-1 Ltd2.619% 04/15/20260.0%
Empresas Publicas de Medellin ESP4.250% 07/18/20290.0%
Avid Automobile Receivables Trust 2019-12.820% 07/15/20260.0%
Universal Health Services, Inc.5.000% 06/01/20260.0%
COMM Mortgage Trust4.577% 07/10/20500.0%
BBCMS 2019-BWAY Mortgage Trust1.495% 11/25/20340.0%
Citigroup Commercial Mortgage Trust1.338% 05/10/20470.0%
GS Mortgage Securities Trust4.574% 07/10/20480.0%
Carrier Global Corp3.577% 04/05/20500.0%
Foursight Capital Automobile Receivables Trust 2013.240% 09/15/20220.0%
Volkswagen Group of America Finance LLC3.350% 05/13/20250.0%
Prosus NV3.680% 01/21/20300.0%
Mexichem SAB de CV4.875% 09/19/20220.0%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.0%
Residential Mortgage Loan Trust 2020-12.376% 02/25/20240.0%
Westgate Resorts 2018-1 LLC3.380% 12/20/20310.0%
Diamond Resorts Owner Trust4.110% 10/22/20290.0%
Americredit Automobile Receivables Trust 2019-10.454% 06/20/20220.0%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.0%
Pertamina Persero PT4.150% 02/25/20600.0%
Government National Mortgage Association2.900% 02/16/20530.0%
Carmax Auto Owner Trust 2020-12.340% 11/17/20250.0%
Americredit Automobile Receivables Trust 2019-12.930% 06/20/20220.0%
Galaxy XXI CLO Ltd2.155% 04/20/20310.0%
Palmer Square Loan Funding 2018-5 Ltd2.535% 01/20/20270.0%
Mercedes-Benz Auto Lease Trust 2018-B3.210% 09/15/20210.0%
CPS Auto Receivables Trust6.580% 03/15/20220.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
Halcyon Loan Advisors Funding Ltd.3.141% 07/25/20270.0%
WFRBS Commercial Mortgage Trust0.712% 10/15/20570.0%
Flagship Credit Auto Trust 2017-32.590% 07/15/20220.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.0%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.0%
WFRBS Commercial Mortgage Trust0.307% 10/15/20570.0%
Drive Auto Receivables Trust 2018-23.630% 08/15/20240.0%
Drive Auto Receivables Trust 2019-32.630% 09/15/20220.0%
Ares XXIX CLO Ltd.2.325% 04/17/20260.0%
CPS Auto Trust3.430% 07/15/20220.0%
First Investors Auto Owner Trust2.410% 12/15/20220.0%
Wheels SPV 2 LLC3.060% 04/20/20270.0%
Enterprise Fleet Financing LLC2.870% 10/20/20230.0%
Chesapeake Funding II LLC1.990% 05/15/20290.0%
KKR CLO 18 Ltd4.735% 07/18/20300.0%
CNAC HK Finbridge Co Ltd4.125% 07/19/20270.0%
Santander Drive Auto Receivables Trust 2017-32.760% 12/15/20220.0%
SFAVE Commercial Mortgage Securities Trust4.144% 01/05/20430.0%
Sequoia Mortgage Trust 2012-42.069% 09/25/20420.0%
First Investors Auto Owner Trust 2018-23.230% 12/15/20220.0%
WFRBS Commercial Mortgage Trust1.119% 05/15/20470.0%
Csail Commercial Mortgage Trust4.330% 06/15/20570.0%
Flagship Credit Auto Trust 2018-12.590% 06/15/20220.0%
Ascentium Equipment Receivables 2017-1 Trust2.290% 06/10/20210.0%
General Motors Co.6.750% 04/01/20460.0%
COMM Mortgage Trust1.163% 08/10/20470.0%
Diamond Resorts Owner Trust3.080% 11/20/20280.0%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The1.035% 01/15/20330.0%
JPMBB Commercial Mortgage Securities Trust0.903% 04/15/20470.0%
WFRBS Commercial Mortgage Trust0.733% 05/15/20470.0%
JPMBB Commercial Mortgage Securities Trust0.439% 04/15/20470.0%
CPS Auto Receivables Trust 2018-A2.770% 04/18/20220.0%
Americredit Automobile Receivables Trust 2018-30.444% 01/18/20220.0%
Americredit Automobile Receivables Trust 2018-33.110% 01/18/20220.0%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.0%
Government National Mortgage Association2.200% 04/16/20470.0%
US 10YR ULTRA FUT SEP200.000% 09/30/20200.0%
US LONG BOND(CBT) SEP200.000% 09/30/20200.0%
US ULTRA BOND CBT SEP200.000% 09/30/20200.0%

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

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 08/06/2020
$0.143
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 07/31/2020 $0.01931 $11.74
Daily Daily 06/30/2020 $0.02073 $11.52
Daily Daily 05/31/2020 $0.02090 $11.41
Daily Daily 04/30/2020 $0.02253 $11.35
Daily Daily 03/31/2020 $0.02228 $11.18
Daily Daily 02/29/2020 $0.01932 $11.45
Daily Daily 01/31/2020 $0.01885 $11.28

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 08/31/2020
Daily Daily 09/30/2020
Daily Daily 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/17/2015 12/18/2015 $0.0064 $0.0168 $0.0232 $10.79
*

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
12/17/2020 12/18/2020

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 08/06/2020

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $12.03
$100,000 to $249,999 1.75% 1.50% $11.97
$250,000 to $499,999 1.25% 1.00% $11.91
$500,000 to $999,999 0.00% 1.00% $11.76
$1,000,000 to $5,000,000 0.00% 1.00% $11.76

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 may combine the value of Class A, B, C, F, and P shares of any eligible fund currently owned with a new purchase of Class A shares of any eligible fund in order to reduce the sales charge on the new purchase. Class I, R2, and R3 share holdings may not be combined for these purposes.

    To the extent that your financial intermediary is able to do so, the value of Class A, B, C, F, and P shares of eligible funds determined for the purpose of reducing the sales charge of a new purchase under the Rights of Accumulation will be calculated at the higher of: 1) the aggregate current maximum offering price of your existing Class A, B, C, F, and P shares of eligible funds or 2) the aggregate amount you invested in such shares (including dividend reinvestments but excluding capital appreciation) less any withdrawals. You should retain any information and account records necessary to substantiate the historical amounts you and any related purchasers have invested in eligible funds. You must inform a fund and/or your financial intermediary at the time of purchase if you believe your purchase qualifies for a reduced sales charge; you may be requested to provide documentation of your holdings in order to verify your eligibility. If you do not do so, you may not receive all sales charge reductions for which you are eligible.

  • Letter of Intention — In order to reduce your Class A front-end sales charge, a purchaser may combine purchases of Class A, B, C, F, and P shares of any eligible fund the purchaser intends to make over the next 13 months in determining the applicable sales charge. The 13-month Letter of Intention period commences on the day that the Letter of Intention is received by a fund, and the purchaser must tell a fund that later purchases are subject to the Letter of Intention. Purchases submitted prior to the date the Letter of Intention is received by a fund are not counted toward the sales charge reduction. Current holdings under Rights of Accumulation may be included in a Letter of Intention in order to reduce the sales charge for purchases during the 13-month period covered by the Letter of Intention. Shares purchased through reinvestment of dividends or distributions are not included. Class I, R2, and R3 share holdings may not be combined for these purposes. Class A shares valued at 5% of the amount of intended purchases are escrowed and may be redeemed to cover the additional sales charges payable if the intended purchases under the Letter of Intention is not completed. The Letter of Intention is neither a binding obligation on you to buy nor on a fund to sell any or all of an intended purchase amount.

Purchaser — A purchaser includes: 1) an individual; 2) an individual, his or her spouse, and children under the age of 21; 3) retirement and benefit plans, including a 401(k) plan, profit-sharing plan, money purchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, nonprofit organization, school district, or church to which employer contributions are made, as well as SIMPLE IRA plans and SEP-IRA plans; or 4) a trustee or other fiduciary purchasing shares for a single trust, estate, or single fiduciary account. An individual may include under item (1) his or her holdings in eligible funds as described above in IRAs, as a sole participant of a retirement and benefit plan sponsored by the individual's business, and as a participant in a 403(b) plan to which only pretax salary deferrals are made. An individual and his or her spouse may include under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit plans sponsored 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 single bank 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 07/31/2020

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* Barron’s Top Fund Families of 2019, February 14, 2020, #5 in the Taxable Bond Category among 55 fund families. Based on the net total return of the one−year period ending 12/31/2019. #14 Overall ranking among 55 qualifying fund families based on the net total return of the one-year period ending 12/31/2019. Five-year Overall ranking is #30 out of 52 fund families; 10-year Overall ranking is #33 out of 45 fund families.

 

Source: Barron’s, “Barron’s Top Fund Families of 2019,” February 14, 2020. Barron’s rankings are based on asset weighted returns in funds in five categories: U.S. 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, 2019, 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 2019 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.

 

© Reuters 2020. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. 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.      

                    

1

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.

 

2

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.

 

3

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.

 

4

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.

 

5

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

 

6

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.

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and 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 1.50% if the shares are repurchased 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.

 

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and 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 1.50% if the shares are repurchased 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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