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Core Fixed Income Fund

Daily price w/o sales charge as of 08/21/2019

$11.17

arrowDown$0.02

YTD Returns w/o sales charge as of 08/21/2019

8.08%

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 08/21/2019  

w/o sales charge 2.43%
w/ sales charge 2.38%

30-Day Standardized Yield 2 as of 07/31/2019  

2.13%

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

Expense Ratioas of 07/31/2019

Fund Basicsas of 07/31/2019

Total Net Assets
$1.37 B
Inception Date
08/31/2000
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
354
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

0.62%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 6.12% 7.43% 1.89% 2.58% 3.73% 4.85%
Lipper Category Avg. Core Bond Funds 6.58% 7.52% 2.19% 2.72% 3.99% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.35% 8.08% 2.17% 3.05% 3.75% 4.86%
w/ sales charge 3.75% 5.04% 1.12% 2.12% 3.49% 4.73%

Fund Expense Ratio :

0.62%

Fund Expense Ratio :

0.62%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 5.80% 7.19% 2.06% 2.48% 3.99% 4.86%
Lipper Category Avg. Core Bond Funds 6.29% 7.35% 2.37% 2.62% 4.25% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.11% 7.87% 2.31% 2.95% 3.90% 4.87%
w/ sales charge 3.44% 4.81% 1.28% 2.03% 3.75% 4.73%

Fund Expense Ratio :

0.62%

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
CMBS
Sovereign
Corporates
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 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 07/31/2019 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB

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

25 Years of Industry Experience

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

Partner & Portfolio Manager

21 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Supported By 68 Investment Professionals with 15 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 08/21/2019  

w/o sales charge 2.43%
w/ sales charge 2.38%

30-Day Standardized Yield 2 as of 07/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.13% 2.13%

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

Fund Expense Ratio :

0.62%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 6.12% 7.43% 1.89% 2.58% 3.73% 4.85%
Lipper Category Avg. Core Bond Funds 6.58% 7.52% 2.19% 2.72% 3.99% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.35% 8.08% 2.17% 3.05% 3.75% 4.86%
w/ sales charge 3.75% 5.04% 1.12% 2.12% 3.49% 4.73%

Fund Expense Ratio :

0.62%

Fund Expense Ratio :

0.62%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 5.80% 7.19% 2.06% 2.48% 3.99% 4.86%
Lipper Category Avg. Core Bond Funds 6.29% 7.35% 2.37% 2.62% 4.25% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.11% 7.87% 2.31% 2.95% 3.90% 4.87%
w/ sales charge 3.44% 4.81% 1.28% 2.03% 3.75% 4.73%

Fund Expense Ratio :

0.62%

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
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% 5.93%
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
2019 2.83% 2.89% - - 8.08%
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 07/31/2019

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
U.S. Government Related
MBS
ABS
CMBS
Sovereign
Corporates
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
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 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 07/31/2019

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB

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 6/30/2019

  • We increased the portfolio’s allocation to MBS over the quarter. MBS valuations became attractive as     mortgage spreads over Treasuries reached their widest levels in the post crisis era, as lower rates     have resulted in a mini-refinancing boom and thus increased call risk within MBS, increasing risk     premium. We continue to monitor and trade a range with respect to MBS spreads to Treasuries.
  • We reduced the portfolio’s allocation to asset-backed securities (ABS) that are backed by student     loans and credit card receivables. While we continue to maintain a favorable view on ABS, we were     able to take profits and reallocate the portfolio’s ABS positioning following the volatility that occurred     within risk assets during May, which resulted in tighter ABS spreads relative to corporate bonds. In     addition, we sold deals that did not have strong language regarding the eventual change from using     LIBOR to using the Secured Overnight Financing Rate (SOFR).
  • We maintained the portfolio’s overweight position within commercial mortgage-backed securities     (CMBS). CMBS continue to offer less sensitivity to the potential deterioration of U.S. trade conditions     as it is an asset class with a domestic orientation. We favor SASB (single-asset / single-borrower)     deals across the credit spectrum. Generally, these deals have had superior asset quality and     underwriting versus conduit deals as well as stronger borrower profiles.

Portfolio Details as of 07/31/2019

Total Net Assets
$1.37 B
Number of Issues
354
Average Coupon
3.05%
Average Life
7.11 Years
Average Effective Duration
5.67 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
Fannie Mae or Freddie Mac 3.500% 08/01/2049 17.7%
United States Treasury Bill 0.000% 08/27/2019 12.6%
Fannie Mae or Freddie Mac 4.000% 08/01/2049 11.4%
U.S. Treasury Note/Bond 2.500% 01/31/2021 9.1%
TD Securities (USA) LLC 0.010% - 6.2%
J.P.Morgan Securities LLC 0.010% - 5.0%
Federal Home Loan Bank 0.000% 09/06/2019 4.7%
Fannie Mae or Freddie Mac 3.000% 08/01/2049 4.3%
U.S. Treasury Note 0.625% 04/15/2023 4.2%
U.S. Treasury Note/Bond 3.000% 02/15/2049 2.8%
% of Total Assets 78.0%

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.

Holding Coupon Maturity Assets
United States Treasury Bill0.000% 07/02/201919.1%
FNMA Conventional Long T. 30yr3.500% 02/29/204817.8%
FNMA Conventional Long T. 30yr4.500% 06/30/204812.0%
FNMA Conventional Long T. 30yr4.000% 04/30/204811.6%
U.S. Treasury Note/Bond2.500% 01/31/20219.4%
TD Securities (USA) LLC0.010% -5.3%
U.S. Treasury Note0.625% 04/15/20234.3%
U.S. Treasury Note/Bond3.000% 02/15/20493.0%
U.S. Treasury Note/Bond2.750% 11/15/20472.5%
JPMorgan Chase & Co.3.782% 02/01/20281.1%
U.S. Treasury Note/Bond1.750% 06/30/20241.1%
Bank of America Corp.3.593% 07/21/20280.9%
J.P.Morgan Securities LLC0.010% -0.9%
Citigroup, Inc.3.887% 01/10/20280.8%
Westpac Banking Corp.3.150% 01/16/20240.7%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20360.6%
JPMBB Commercial Mortgage Securities Trust3.801% 08/15/20480.5%
Wells Fargo Bank, N.A.5.850% 02/01/20370.5%
Morgan Stanley Bank of America Merrill Lynch Trust3.544% 01/15/20490.5%
Toronto-Dominion Bank3.625% 09/15/20310.5%
Santander Drive Auto Receivables Trust 2015-44.540% 11/15/20220.5%
U.S. Treasury Note/Bond2.625% 02/15/20290.5%
Japan Bank for International Cooperation/Japan2.125% 02/10/20250.5%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.5%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.5%
ENI SpA5.700% 10/01/20400.4%
Morgan Stanley4.000% 07/23/20250.4%
Morgan Stanley3.875% 01/27/20260.4%
Discover Card Execution Note Trust1.670% 01/18/20220.4%
Ford Credit Auto Owner Trust 2014-REV22.310% 04/15/20260.4%
Drive Auto Receivables Trust5.300% 07/15/20240.4%
General Motors Co.6.600% 04/01/20360.4%
Santander Drive Auto Receivables Trust 2016-24.380% 09/15/20230.4%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.4%
Morgan Stanley Bank of America Merrill Lynch Trust2.860% 09/15/20490.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
Japan Bank for International Cooperation/Japan2.500% 05/23/20240.4%
Berkshire Hathaway Energy Co.3.800% 07/15/20480.4%
Norfolk Southern Corp.5.590% 05/17/20250.4%
Barclays Dryrock Issuance Trust2.694% 05/15/20230.4%
GE Capital International Funding Co.4.418% 11/15/20350.4%
JP Morgan Chase Commercial Mortgage Securities Tru3.380% 07/05/20330.4%
Halliburton Co.7.450% 09/15/20390.4%
Honda Auto Receivables 2019-1 Owner Trust2.750% 09/20/20210.3%
Elm CLO 2014-1 Ltd3.481% 01/17/20290.3%
SCF Equipment Leasing 2019-1 LLC3.920% 11/20/20260.3%
Santander Drive Auto Receivables Trust 2016-15.020% 06/15/20230.3%
Mercedes-Benz Auto Lease Trust 2018-B3.040% 12/15/20200.3%
NextGear Floorplan Master Owner Trust3.690% 10/15/20230.3%
OHA Loan Funding 2016-1 Ltd4.392% 01/20/20280.3%
Time Warner Cable LLC7.300% 07/01/20380.3%
Americredit Automobile Receivables Trust 2018-22.860% 11/18/20210.3%
Drive Auto Receivables Trust 2017-23.490% 09/15/20230.3%
Hilton Orlando Trust 2018-ORL3.164% 12/15/20340.3%
BX Commercial Mortgage Trust 2018-BIOA3.065% 03/15/20370.3%
GE Capital Credit Card Master Note Trust1.760% 09/15/20220.3%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.3%
Santander Drive Auto Receivables Trust 2015-24.020% 09/15/20220.3%
Citibank Credit Card Issuance Trust1.800% 09/20/20210.3%
Ally Auto Receivables Trust 2016-11.990% 03/15/20210.3%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.3%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.3%
Shackleton 2019-XIV Clo Ltd0.000% 07/20/20300.3%
Government National Mortgage Association2.700% 08/16/20580.3%
Reynolds American, Inc.5.700% 08/15/20350.3%
Electricite de France SA5.000% 09/21/20480.3%
Tralee CLO III Ltd3.622% 10/20/20270.3%
Apache Corp.4.750% 04/15/20430.3%
Benefit Street Partners CLO IV Ltd3.842% 01/20/20290.3%
COMM Mortgage Trust4.588% 07/10/20500.3%
Oracle Corp.6.125% 07/08/20390.3%
Air Lease Corp.3.625% 12/01/20270.3%
Anglo American Capital plc4.750% 04/10/20270.3%
Macquarie Group Ltd.4.654% 03/27/20290.3%
JP Morgan Chase Commercial Mortgage Securities Tru3.394% 06/15/20320.2%
ALM VII Ltd0.000% 07/15/20290.2%
Chase Issuance Trust1.270% 07/15/20210.2%
UBS AG7.625% 08/17/20220.2%
Nvent Finance Sarl4.550% 04/15/20280.2%
Government National Mortgage Association2.600% 06/16/20570.2%
Flagship Credit Auto Trust 2018-33.070% 02/15/20230.2%
American Express Credit Account Master Trust1.930% 09/15/20220.2%
Broadcom Inc3.625% 10/15/20240.2%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.2%
Drive Auto Receivables Trust5.150% 08/15/20220.2%
Government National Mortgage Association2.900% 02/16/20490.2%
Goldman Sachs Group, Inc.6.750% 10/01/20370.2%
BX Trust 2018-GW3.194% 05/15/20350.2%
World Financial Network Credit Card Master Trust1.980% 06/15/20230.2%
Gilead Sciences, Inc.4.600% 09/01/20350.2%
DLL 2018-2 LLC3.140% 10/20/20200.2%
Westlake Automobile Receivables Trust 2019-23.060% 02/15/20230.2%
Shell International Finance BV6.375% 12/15/20380.2%
Hyundai Auto Receivables Trust 2017-A2.530% 11/15/20230.2%
Santander UK plc7.950% 10/26/20290.2%
Siemens Financial Services, Inc.2.350% 10/15/20260.2%
EPR Properties4.500% 06/01/20270.2%
IFM US Colonial Pipeline 2 LLC6.450% 05/01/20210.2%
SLC Student Loan Trust 2008-14.010% 12/15/20320.2%
ICG US CLO 2015-2 Ltd3.451% 01/16/20280.2%
AerCap Ireland Capital Ltd.3.500% 01/15/20250.2%
Ohio Edison Co.8.250% 10/15/20380.2%
JPMBB Commercial Mortgage Securities Trust4.411% 07/15/20480.2%
Hardee's Funding LLC4.959% 06/20/20480.2%
AmeriCredit Automobile Receivables Trust 2015-23.000% 06/08/20210.2%
AT&T, Inc.6.250% 03/29/20410.2%
South Carolina Electric & Gas Co.6.050% 01/15/20380.2%
Drive Auto Receivables Trust 2019-32.630% 09/15/20220.2%
Dell International LLC / EMC Corp.8.350% 07/15/20460.2%
Morgan Stanley3.625% 01/20/20270.2%
Perimeter Master Note Business Trust4.310% 12/15/20220.2%
SunTrust Auto Receivables Trust3.240% 01/16/20230.2%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor3.337% 12/15/20270.2%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.2%
JFIN CLO 2014 Ltd4.042% 04/21/20250.2%
Drive Auto Receivables Trust 2018-24.140% 08/15/20240.2%
WhiteHorse VIII Ltd3.479% 05/01/20260.2%
Petroleos Mexicanos4.500% 01/23/20260.2%
Hudsons Bay Simon JV Trust4.666% 08/05/20340.2%
Drive Auto Receivables Trust3.040% 11/15/20210.2%
Glencore Finance Canada Ltd.5.550% 10/25/20420.2%
Capital One Multi-Asset Execution Trust1.330% 06/15/20220.2%
AerCap Ireland Capital Ltd.3.875% 01/23/20280.2%
Kerr-McGee Corp.7.875% 09/15/20310.2%
WEA Finance LLC3.500% 06/15/20290.2%
Aqua America, Inc.3.566% 05/01/20290.2%
Wells Fargo Bank, N.A.6.600% 01/15/20380.2%
California Republic Auto Receivables Trust 2018-13.560% 03/15/20230.2%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.2%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.2%
Palmer Square Loan Funding 2018-1 Ltd3.197% 04/15/20260.2%
American Credit Acceptance Receivables Trust 2019-3.050% 05/12/20230.2%
Dell International LLC / EMC Corp6.020% 06/15/20260.2%
BAT Capital Corp3.557% 08/15/20270.2%
Hudsons Bay Simon JV Trust5.331% 08/05/20340.2%
Ares XLI Clo Ltd4.397% 01/15/20290.2%
CIFC Funding 2017-I Ltd3.952% 04/23/20290.2%
DRB Prime Student Loan Trust3.200% 01/25/20400.2%
World Omni Select Auto Trust 2018-13.240% 04/15/20220.2%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.2%
TPG Real Estate Finance 2018-FL2 Issuer LTD3.524% 11/15/20370.1%
Americredit Automobile Receivables Trust 2019-12.642% 06/20/20220.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.625% 01/15/20240.1%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.1%
SURA Asset Management SA4.875% 04/17/20240.1%
Saudi Arabian Oil Co2.875% 04/16/20240.1%
Drive Auto Receivables Trust3.720% 09/16/20240.1%
Orec 2018-CRE1 Ltd3.574% 06/15/20360.1%
Chesapeake Funding II LLC1.910% 08/15/20290.1%
Palmer Square Loan Funding 2018-5 Ltd3.442% 01/20/20270.1%
American Credit Acceptance Receivables Trust 2018-3.380% 12/13/20210.1%
DBWF 2018-GLKS Mortgage Trust3.420% 11/19/20350.1%
Dominion Gas Holdings LLC4.600% 12/15/20440.1%
CarMax Auto Owner Trust2.880% 10/15/20210.1%
GS Mortgage Securities Corp Trust 2018-FBLU3.344% 11/15/20350.1%
Foursight Capital Automobile Receivables Trust 2013.240% 09/15/20220.1%
Towd Point Asset Trust 2018-SL13.004% 01/25/20460.1%
Citibank Credit Card Issuance Trust2.150% 07/15/20210.1%
Discover Card Execution Note Trust1.390% 03/15/20220.1%
Wells Fargo Commercial Mortgage Trust4.249% 05/15/20480.1%
Drive Auto Receivables Trust 2017-15.170% 09/16/20240.1%
Schlumberger Holdings Corp.4.300% 05/01/20290.1%
Bank of America Corp.4.000% 01/22/20250.1%
Americredit Automobile Receivables Trust 2019-12.930% 06/20/20220.1%
UBS AG Registered Shares5.125% 05/15/20240.1%
Barclays Dryrock Issuance Trust2.410% 07/15/20220.1%
Daimler Finance North America LLC3.750% 02/22/20280.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Chesapeake Funding II LLC1.880% 06/15/20280.1%
Longtrain Leasing III LLC 2015-14.060% 01/15/20450.1%
Pennsylvania Electric Co.3.600% 06/01/20290.1%
ME Funding LLC6.448% 07/30/20490.1%
Willis North America, Inc.7.000% 09/29/20190.1%
Statoil ASA7.150% 11/15/20250.1%
Federal Home Loan Mortgage Corp.2.248% 02/25/20320.1%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.1%
JP Morgan Chase Commercial Mortgage Securities Tru4.494% 06/15/20320.1%
Synchrony Credit Card Master Note Trust1.580% 09/15/20220.1%
Walt Disney Co/The7.750% 12/01/20450.1%
Carnival plc7.875% 06/01/20270.1%
KVK CLO 2016-1 Ltd5.747% 01/15/20290.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
Sound Point Clo XII Ltd5.192% 10/20/20280.1%
Chase Issuance Trust1.580% 08/15/20210.1%
Cabela's Credit Card Master Note Trust2.844% 07/15/20220.1%
JPMorgan Chase & Co.3.540% 05/01/20280.1%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.1%
Avery Point VII CLO Ltd0.000% 01/15/20280.1%
Citigroup, Inc.4.450% 09/29/20270.1%
Government National Mortgage Association2.700% 07/16/20570.1%
California Republic Auto Receivables Trust 2018-12.860% 03/15/20210.1%
Ford Credit Floorplan Master Owner Trust A4.060% 11/15/20300.1%
Capital Auto Receivables Asset Trust 2018-23.690% 12/20/20230.1%
Wells Fargo Commercial Mortgage Trust 2016-NXS55.039% 01/15/20590.1%
Towd Point Asset Trust 2018-SL13.404% 12/25/20480.1%
Mountain View CLO X Ltd3.947% 10/13/20270.1%
Jamestown CLO VII Ltd.5.180% 07/25/20270.1%
Flagship Credit Auto Trust 2018-33.590% 12/16/20240.1%
Vistra Operations Co LLC4.300% 07/15/20290.1%
Santander Drive Auto Receivables Trust 2015-23.020% 04/15/20210.1%
U.S. Treasury Note/Bond2.875% 10/31/20200.1%
Federal National Mortgage Assoc.5.500% 01/01/20350.1%
COMM Mortgage Trust4.588% 07/10/20500.1%
GS Mortgage Securities Corp Trust 2018-RIVR3.344% 07/15/20350.1%
First Investors Auto Owner Trust2.410% 12/15/20220.1%
Americredit Automobile Receivables Trust 2018-33.110% 01/18/20220.1%
Americredit Automobile Receivables Trust 2018-32.632% 01/18/20220.1%
Entergy Texas, Inc.4.000% 03/30/20290.1%
Banco de Credito e Inversiones3.500% 10/12/20270.1%
EPR Properties4.950% 04/15/20280.1%
Textainer Marine Containers VII Ltd3.960% 04/20/20440.1%
Goldman Sachs Group, Inc.4.223% 05/01/20290.1%
Government National Mortgage Association2.750% 02/16/20580.1%
CNAC HK Finbridge Co Ltd3.500% 07/19/20220.1%
Engs Commercial Finance Trust 2018-12.970% 02/22/20210.1%
Westlake Automobile Receivables Trust 2019-23.200% 11/15/20240.1%
Federal National Mortgage Assoc.5.500% 09/01/20360.1%
Genesis Sales Finance Master Trust Series 2019-A4.680% 08/20/20230.1%
Piedmont Natural Gas Co., Inc.3.500% 06/01/20290.1%
Palmer Square Loan Funding 2017-1 Ltd4.297% 10/15/20250.1%
Neuberger Berman Group LLC4.500% 03/15/20270.1%
First Investors Auto Owner Trust 2018-23.230% 12/15/20220.1%
General Electric Co.2.945% 05/05/20260.1%
Halliburton Co.6.700% 09/15/20380.1%
United Technologies Corp.4.625% 11/16/20480.1%
Cedar Funding VI CLO Ltd4.192% 10/20/20280.1%
AbbVie, Inc.4.875% 11/14/20480.1%
Interstate Power & Light Co3.600% 04/01/20290.1%
Massachusetts Educational Financing Authority3.530% 04/25/20380.1%
Drive Auto Receivables Trust4.160% 05/15/20240.1%
Government National Mortgage Association2.700% 04/16/20570.1%
Ares XXIX CLO Ltd.3.778% 04/17/20260.1%
Atrium Hotel Portfolio Trust 2018-ATRM3.344% 06/15/20350.1%
Navient Private Education Refi Loan Trust 2018-D4.000% 12/15/20590.1%
Sound Point Clo XV Ltd5.092% 01/23/20290.1%
BMW Vehicle Owner Trust 2018-A2.090% 11/25/20200.1%
Oklahoma Gas and Electric3.300% 03/15/20300.1%
AT&T, Inc.6.000% 08/15/20400.1%
AmeriCredit Automobile Receivables Trust 2016-22.210% 05/10/20210.1%
Government National Mortgage Association2.600% 07/16/20580.1%
Shackleton 2016-IX CLO Ltd4.492% 10/20/20280.1%
PFS Financing Corp.3.080% 02/15/20230.1%
Entergy Louisiana LLC4.000% 03/15/20330.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.460% 11/15/20350.1%
Bank of America Corp.4.450% 03/03/20260.1%
General Electric Co.6.150% 08/07/20370.1%
Drive Auto Receivables Trust 2018-53.080% 07/15/20210.1%
Avery Point VII CLO Ltd0.000% 01/15/20280.1%
Flagship Credit Auto Trust 2018-12.590% 06/15/20220.1%
CPS Auto Receivables Trust 2018-B4.260% 03/15/20240.1%
Wheels SPV 2 LLC3.060% 04/20/20270.1%
Drive Auto Receivables Trust3.010% 11/15/20210.1%
Foursight Capital Automobile Receivables Trust 2013.530% 04/17/20230.1%
CPS Auto Trust2.870% 09/15/20210.1%
Palmer Square Loan Funding 2018-1 Ltd3.647% 04/15/20260.1%
EPR Properties4.750% 12/15/20260.1%
Regatta VI Funding Ltd4.642% 07/20/20280.1%
PHEAA Student Loan Trust I2.850% 04/25/20380.1%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The3.244% 01/15/20330.1%
Cleco Corp.4.973% 05/01/20460.1%
Chesapeake Funding II LLC1.990% 05/15/20290.1%
Qatar Government International Bond5.103% 04/23/20480.1%
Abu Dhabi Crude Oil Pipeline LLC4.600% 11/02/20470.1%
Citigroup Commercial Mortgage Trust1.348% 05/10/20470.1%
Diamond Resorts Owner Trust4.110% 10/22/20290.1%
Northern Natural Gas4.300% 01/15/20490.1%
Westgate Resorts 2018-1 LLC3.380% 12/20/20310.1%
Drive Auto Receivables Trust 2018-52.714% 07/15/20210.1%
Drive Auto Receivables Trust3.340% 09/15/20220.1%
California Republic Auto Receivables Trust 2016-22.520% 05/16/20220.1%
JB y Co SA de CV3.750% 05/13/20250.1%
South Carolina Electric & Gas Co.6.625% 02/01/20320.1%
Affiliated Managers Group, Inc.4.250% 02/15/20240.1%
Enterprise Fleet Financing LLC2.870% 10/20/20230.1%
Bayer Corp6.650% 02/15/20280.1%
Flagship Credit Auto Trust 2017-32.590% 07/15/20220.1%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.1%
CPS Auto Receivables Trust 2018-A2.770% 04/18/20220.1%
Avery Point CLO Ltd.4.180% 04/25/20260.1%
GS Mortgage Securities Trust4.557% 07/10/20480.1%
Minejesa Capital BV4.625% 08/10/20300.1%
Interest Rate Swap0.000% 04/01/20210.1%
Adani Ports & Special Economic Zone Ltd4.000% 07/30/20270.1%
Palmer Square Loan Funding 2018-1 Ltd3.997% 04/15/20260.1%
CPS Auto Trust3.430% 07/15/20220.1%
AmeriCredit Automobile Receivables Trust 2017-32.240% 06/19/20230.1%
Government National Mortgage Association2.900% 02/16/20530.1%
Chrysler Capital Auto Receivables Trust 2016-A2.880% 06/15/20220.1%
Pennsylvania5.350% 05/01/20300.0%
Neuberger Berman Group LLC4.875% 04/15/20450.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
COMM Mortgage Trust4.588% 07/10/20500.0%
Universal Health Services, Inc.5.000% 06/01/20260.0%
Foursight Capital Automobile Receivables Trust 2012.850% 08/16/20210.0%
Madison Park Funding XXI Ltd4.110% 07/25/20290.0%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.0%
Drive Auto Receivables Trust3.020% 11/15/20210.0%
Santander UK plc5.000% 11/07/20230.0%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.0%
OneMain Financial Issuance Trust 2016-1A3.660% 02/20/20290.0%
Daimler Trucks Retail Trust 2018-12.600% 05/15/20200.0%
Mexichem SAB de CV4.875% 09/19/20220.0%
WFRBS Commercial Mortgage Trust0.740% 10/15/20570.0%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.0%
ALM VII Ltd4.077% 10/15/20280.0%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.0%
AT&T, Inc.6.100% 07/15/20400.0%
CPS Auto Receivables Trust6.580% 03/15/20220.0%
Drive Auto Receivables Trust 2017-22.750% 09/15/20230.0%
Federal Home Loan Mortgage Corp.5.000% 06/01/20260.0%
Ascentium Equipment Receivables 2016-2 Trust2.500% 09/12/20220.0%
Apidos CLO XVI5.592% 01/19/20250.0%
WFRBS Commercial Mortgage Trust0.307% 10/15/20570.0%
Federal National Mortgage Assoc.5.500% 12/01/20340.0%
Palmer Square Loan Funding 2018-5 Ltd3.992% 01/20/20270.0%
Delphi Automotive plc4.350% 03/15/20290.0%
Galaxy XXI CLO Ltd3.612% 04/20/20310.0%
American Credit Acceptance Receivables Trust 2016-6.090% 05/12/20220.0%
Danske Bank A/S4.375% 06/12/20280.0%
Santander Drive Auto Receivables Trust 2017-32.760% 12/15/20220.0%
Foursight Capital Automobile Receivables Trust 2013.680% 08/15/20230.0%
Halcyon Loan Advisors Funding Ltd.4.730% 07/25/20270.0%
Orange Lake Timeshare Trust 2019-A3.060% 04/09/20380.0%
Dayton Power & Light Co.3.950% 06/15/20490.0%
Mercedes-Benz Auto Lease Trust 2018-A2.200% 04/15/20200.0%
Enterprise Fleet Financing LLC2.130% 07/20/20220.0%
California Republic Auto Receivables Trust2.700% 09/15/20210.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
Chrysler Capital Auto Receivables Trust 2016-A3.250% 06/15/20220.0%
Carmax Auto Owner Trust1.390% 05/17/20210.0%
Cox Communications, Inc.3.350% 09/15/20260.0%
Ascentium Equipment Receivables 2017-1 Trust2.290% 06/10/20210.0%
Santander Drive Auto Receivables Trust 2015-42.970% 03/15/20210.0%
Sequoia Mortgage Trust 2012-42.069% 09/25/20420.0%
TCI-Symphony CLO 2016-1 Ltd4.077% 10/13/20290.0%
Flagship Credit Auto Trust 2017-31.880% 10/15/20210.0%
Csail Commercial Mortgage Trust4.343% 06/15/20570.0%
WFRBS Commercial Mortgage Trust1.138% 05/15/20470.0%
Mercedes-Benz Auto Receivables Trust 2016-11.260% 02/16/20210.0%
Foursight Capital Automobile Receivables Trust 2012.870% 10/15/20210.0%
Santander Drive Auto Receivables Trust 2018-32.780% 03/15/20210.0%
Nissan Auto Receivables 2016-A Owner Trust1.340% 10/15/20200.0%
California Republic Auto Receivables Trust 2017-11.900% 03/15/20210.0%
SFAVE Commercial Mortgage Securities Trust4.144% 01/05/20430.0%
Ford Credit Auto Owner Trust 2017-REV22.600% 03/15/20290.0%
First Investors Auto Owner Trust 2017-21.860% 10/15/20210.0%
Avis Budget Rental Car Funding2.460% 07/20/20200.0%
Indonesia Asahan Aluminium Persero PT6.530% 11/15/20280.0%
Federal National Mortgage Assoc.5.500% 02/01/20350.0%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.0%
Hyundai Auto Lease Securitization Trust 2017-C1.890% 03/16/20200.0%
SunTrust Auto Receivables Trust1.780% 01/15/20210.0%
Flagship Credit Auto Trust 2017-21.850% 07/15/20210.0%
Government National Mortgage Association2.200% 04/16/20470.0%
SLM Private Education Loan Trust5.644% 05/16/20440.0%
COMM Mortgage Trust1.286% 08/10/20470.0%
Diamond Resorts Owner Trust3.080% 11/20/20280.0%
Federal National Mortgage Assoc.5.500% 09/01/20340.0%
Interest Rate Swap0.000% 06/07/20210.0%
Ascentium Equipment Receivables 2016-2 Trust1.650% 05/10/20220.0%
Drive Auto Receivables Trust2.610% 08/16/20210.0%
Federal National Mortgage Assoc.5.500% 04/01/20360.0%
OneMain Financial Issuance Trust 2016-25.940% 03/20/20280.0%
Federal National Mortgage Assoc.5.500% 02/01/20350.0%
GM Financial Consumer Automobile Receivables Trust1.710% 09/16/20200.0%
Chesapeake Funding II LLC2.110% 03/15/20280.0%
Federal National Mortgage Assoc.5.500% 12/01/20340.0%
CPS Auto Receivables Trust 2017-D1.870% 03/15/20210.0%
JPMBB Commercial Mortgage Securities Trust0.955% 04/15/20470.0%
WFRBS Commercial Mortgage Trust0.736% 05/15/20470.0%
Federal Home Loan Mortgage Corp.5.000% 07/01/20240.0%
Federal National Mortgage Assoc.6.500% 01/01/20360.0%
Federal Home Loan Mortgage Corp.5.000% 08/01/20230.0%
JPMBB Commercial Mortgage Securities Trust0.460% 04/15/20470.0%
Federal Home Loan Mortgage Corp.5.000% 04/01/20210.0%
Honda Auto Receivables 2016-2 Owner Trust1.390% 04/15/20200.0%
US LONG BOND(CBT) SEP190.000% 09/30/20190.0%
US 10YR ULTRA FUT SEP190.000% 09/30/20190.0%
US ULTRA BOND CBT SEP190.000% 09/30/20190.0%
US 2YR NOTE (CBT) SEP190.000% 10/03/20190.0%
US 5YR NOTE (CBT) SEP190.000% 10/03/20190.0%
Interest Rate Swap2.404% 04/01/2029-0.1%

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 08/21/2019
$0.178
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 07/31/2019 $0.02265 $10.98
Daily Daily 06/30/2019 $0.02593 $10.97
Daily Daily 05/31/2019 $0.02743 $10.87
Daily Daily 04/30/2019 $0.02573 $10.72
Daily Daily 03/31/2019 $0.02890 $10.74
Daily Daily 02/28/2019 $0.02334 $10.57
Daily Daily 01/31/2019 $0.02476 $10.60

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 08/31/2019
Daily Daily 09/30/2019
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

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
12/17/2019 12/18/2019

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 08/21/2019

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $11.43
$100,000 to $249,999 1.75% 1.50% $11.37
$250,000 to $499,999 1.25% 1.00% $11.31
$500,000 to $999,999 0.00% 1.00% $11.17
$1,000,000 to $5,000,000 0.00% 1.00% $11.17

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 07/31/2019

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
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
Flyer
Publish Date:11/03/2015

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

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.

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.

Select funds to run a Morningstar Hypothetical Report.

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