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Core Plus Bond Fund

Daily price w/o sales charge as of 03/19/2019

$14.76

arrowUp$0.01

YTD Returns w/o sales charge as of 03/19/2019

2.91%

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 Plus Bond Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing in a wide range of fixed income securities, including U.S. investment grade and high yield corporate bonds, mortgage-backed, asset-backed, and government-related securities, with select allocations to non-U.S. (including emerging market) debt securities.

Yield

Dividend Yield 1 as of 03/19/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.58% 1.81%

30-Day Standardized Yield 2 as of 02/28/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.41% 2.51%

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

Fund Basicsas of 02/28/2019

Total Net Assets
$26.00 M
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Gross Expense Ratio
2.24%
Fund Net Expense Ratio
0.47%
Number of Holdings
439
CUSIP
54401E242

Fund Expense Ratio :

Gross 2.24%

Net 0.47%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 2.15% 2.97% 4.21% - - 3.66%
Lipper Category Avg. Core Plus Bond Funds 1.77% 2.61% 2.98% - - -
Bloomberg Barclays U.S. Universal Index 1.49% 3.19% 2.45% - - -

Fund Expense Ratio :

Gross 2.24%

Net 0.47%

Fund Expense Ratio :

Gross 2.24%

Net 0.47%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge -0.61% -0.61% 3.40% - - 3.14%
Lipper Category Avg. Core Plus Bond Funds -0.90% -0.90% 2.60% - - -
Bloomberg Barclays U.S. Universal Index -0.26% -0.26% 2.56% - - -

Fund Expense Ratio :

Gross 2.24%

Net 0.47%

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 of future results.

Type Assets
MBS
ABS
Investment Grade Corporate
High Yield Corporate
CMBS
U.S. Government Related
Sovereign
Bank Loans
Other
Cash

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

Maturity Assets
Less than 1 year
1-2.99 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 02/28/2019 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

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Supported By 66 Investment Professionals with 14 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 03/19/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.58% 1.81%

30-Day Standardized Yield 2 as of 02/28/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.41% 2.51%

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

Fund Expense Ratio :

Gross 2.24%

Net 0.47%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 2.15% 2.97% 4.21% - - 3.66%
Lipper Category Avg. Core Plus Bond Funds 1.77% 2.61% 2.98% - - -
Bloomberg Barclays U.S. Universal Index 1.49% 3.19% 2.45% - - -

Fund Expense Ratio :

Gross 2.24%

Net 0.47%

Fund Expense Ratio :

Gross 2.24%

Net 0.47%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge -0.61% -0.61% 3.40% - - 3.14%
Lipper Category Avg. Core Plus Bond Funds -0.90% -0.90% 2.60% - - -
Bloomberg Barclays U.S. Universal Index -0.26% -0.26% 2.56% - - -

Fund Expense Ratio :

Gross 2.24%

Net 0.47%

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 of future results.

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

Portfolio

Portfolio

Rating Assets
MBS
ABS
Investment Grade Corporate
High Yield Corporate
CMBS
U.S. Government Related
Sovereign
Bank Loans
Other
Cash

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

Rating Assets
Less than 1 year
1-2.99 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 02/28/2019

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 Positioningas of 12/31/2018

  • We hold the view that U.S. domestic growth will separate from global weakness. Despite the recent market volatility and downturn of some soft economic indicators, we are cautiously optimistic in the U.S. economy as the labor market remains tight. We continue to believe that inflation expectations will gradually increase, and we remain focused on domestic opportunities given the potential for increased volatility and event risk abroad.
  • We trimmed a portion of the portfolio’s MBS exposure in October due to tighter spreads. In November, we added back to MBS as volatility and spread widening led to more attractive valuations, bringing the allocation from a slight underweight to an overweight relative to the benchmark.
  • We reduced the portfolio’s exposure to U.S. Treasuries over the quarter, using the capital as a source of financing for the portfolio’s increase in MBS exposure. We continue to trade a range with respect to MBS spread to Treasuries.
  • We modestly increased the portfolio’s exposure to asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS) during the quarter. We continue to favor high-quality ABS where we find strong carry opportunities relative to other high-quality assets, primarily within credit card and auto-related ABS. In addition, we found relative value in equipment dealer and franchise-related ABS over the quarter. In terms of CMBS, we continue to find certain single asset/single borrower deals attractive and remain attracted to the domestic nature of the asset class as well as its diversification benefits.

Portfolio Details as of 02/28/2019

Total Net Assets
$26.00 M
Number of Issues
439
Average Coupon
4.24%
Average Life
6.55 Years
Average Maturity
6.55 Years
Average Effective Duration
5.83 Years
Average Modified Duration
6.26 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 Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Modified Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates. Duration is expressed as a number of years, and generally, the larger a portfolio’s duration, the greater the interest-rate risk or reward for underlying bond prices. Where applicable, securities, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs and ADRs and futures, are excluded from these calculations.

Holding Coupon Maturity Assets
FNMA Conventional Long T. 30yr 4.500% 06/30/2048 21.7%
United States Treasury Bill 0.000% 03/14/2019 13.1%
FNMA Conventional Long T. 30yr 4.000% 05/31/2048 5.7%
U.S. Treasury Note 0.625% 04/15/2023 3.9%
FHLM Gold Guar Single F. 30yr 4.000% 07/31/2048 3.4%
U.S. Treasury Note/Bond 2.625% 02/15/2029 2.8%
Cent CLO Ltd. 4.082% 10/29/2025 1.0%
Benefit Street Partners CLO X Ltd 4.277% 01/15/2029 1.0%
Avery Point VII CLO Ltd 4.287% 01/15/2028 1.0%
Sound Point Clo XII Ltd 0.000% 10/20/2028 1.0%
% of Total Assets 54.6%

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
FNMA Conventional Long T. 30yr4.500% 06/30/204821.7%
FNMA Conventional Long T. 30yr4.000% 05/31/204811.2%
United States Treasury Bill0.000% 03/14/20197.3%
U.S. Treasury Note0.625% 04/15/20234.7%
U.S. Treasury Note/Bond3.125% 11/15/20281.5%
Cent CLO Ltd.4.082% 10/29/20251.2%
Avery Point VII CLO Ltd4.287% 01/15/20281.2%
TCI-Flatiron CLO 2016-1 Ltd4.323% 07/17/20281.2%
U.S. Treasury Note0.500% 01/15/20281.1%
Navient Student Loan Trust 2016-73.660% 03/25/20661.1%
UBS AG Registered Shares5.125% 05/15/20241.0%
Turkiye Garanti Bankasi AS6.250% 04/20/20211.0%
Alibaba Group Holding Ltd.3.600% 11/28/20240.9%
Seneca Park CLO Ltd.3.893% 07/17/20260.9%
Discover Card Execution Note Trust2.120% 12/15/20210.9%
Citigroup, Inc.3.887% 01/10/20280.9%
CNAC HK Finbridge Co Ltd3.500% 07/19/20220.9%
Flagship Credit Auto Trust 2017-42.920% 11/15/20230.8%
GS Mortgage Securities Trust3.557% 04/10/20310.7%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl3.650% 02/01/20260.7%
FNMA Conventional Long T. 30yr3.500% 01/31/20480.7%
A10 Bridge Asset Financing LLC3.300% 05/15/20360.7%
InterXion Holding NV4.750% 06/15/20250.6%
General Motors Co.6.600% 04/01/20360.5%
AT&T, Inc.6.000% 08/15/20400.5%
American Credit Acceptance Receivables Trust 2016-6.090% 05/12/20220.5%
First National Master Note Trust 2018-12.969% 10/15/20240.5%
SURA Asset Management SA4.875% 04/17/20240.5%
J.P. Morgan Chase Commercial Mortgage Securities T3.392% 06/05/20320.5%
American Express Credit Account Master Trust1.640% 12/15/20210.5%
COMM 2014-277P Mortgage Trust3.611% 08/10/20490.5%
Foursight Capital Automobile Receivables Trust 2015.280% 08/15/20240.5%
BBCMS Trust4.197% 08/10/20350.5%
Caesars Palace Las Vegas Trust 2017-VICI4.138% 10/15/20340.5%
IMT Trust 2017-APTS3.478% 06/15/20340.5%
NextGear Floorplan Master Owner Trust4.010% 10/16/20230.5%
West Town Mall Trust 2017-KNOX3.823% 07/05/20300.5%
Genesis Sales Finance Master Trust Series 2019-A5.420% 08/20/20230.5%
ACC Trust 2018-14.820% 05/20/20210.5%
CPS Auto Receivables Trust 2017-C3.790% 06/15/20230.5%
BB-UBS Trust3.430% 11/05/20360.5%
BDS 2019-FL3 LTD3.900% 01/15/20360.5%
JP Morgan Chase Commercial Mortgage Securities Tru3.621% 09/05/20320.5%
Synchrony Credit Card Master Note Trust2.040% 03/15/20220.5%
GS Mortgage Securities Corp Trust 2018-RIVR3.459% 07/15/20350.5%
Federal Home Loan Bank0.000% 02/15/20190.5%
Barclays Dryrock Issuance Trust2.410% 07/15/20220.5%
CSMC Trust3.811% 11/15/20340.5%
DBWF 2018-GLKS Mortgage Trust3.533% 11/19/20350.5%
GMF Floorplan Owner Revolving Trust1.960% 05/17/20210.5%
Ford Credit Auto Owner Trust 2014-REV22.310% 04/15/20260.5%
Synchrony Credit Card Master Note Trust2.640% 03/15/20230.5%
PFS Financing Corp.2.890% 02/15/20230.5%
CPS Auto Receivables Trust 2018-A2.770% 04/18/20220.5%
Chase Issuance Trust1.270% 07/15/20210.5%
Atrium Hotel Portfolio Trust 2018-ATRM3.459% 06/15/20350.5%
Synchrony Credit Card Master Note Trust1.580% 09/15/20220.5%
AREIT 2018-CRE2 Trust3.490% 11/14/20350.5%
Commercial Mortgage Pass Through Certificates3.400% 10/05/20300.5%
BWAY 2015-1740 Mortgage Trust2.917% 01/10/20350.5%
Hilton Grand Vacations Trust 2018-A3.540% 02/25/20320.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
U.S. Treasury Note/Bond3.000% 08/15/20480.4%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.4%
COMM Mortgage Trust4.440% 07/10/20500.4%
Synchrony Credit Card Master Note Trust2.620% 10/15/20250.4%
Wells Fargo Capital X5.950% 12/15/20360.4%
Verizon Communications, Inc.3.716% 05/15/20250.4%
General Electric Co.6.150% 08/07/20370.4%
Eni USA Inc7.300% 11/15/20270.4%
Petroleos Mexicanos4.500% 01/23/20260.4%
Kerr-McGee Corp.7.875% 09/15/20310.4%
Stonemont Portfolio Trust 2017-STONE6.103% 08/20/20300.3%
JPMorgan Chase & Co.3.782% 02/01/20280.3%
Stonemont Portfolio Trust 2017-STONE5.253% 08/20/20300.3%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.3%
Navient Student Loan Trust 2017-23.560% 12/27/20660.3%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.3%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.3%
Capital One Multi-Asset Execution Trust3.019% 09/16/20240.3%
American Express Credit Account Master Trust2.959% 09/16/20240.3%
World Financial Network Credit Card Master Trust3.140% 01/17/20230.3%
Wells Fargo Commercial Mortgage Trust4.286% 07/15/20460.3%
BX Commercial Mortgage Trust 2018-BIOA3.180% 03/15/20370.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
General Electric Co.3.100% 01/09/20230.3%
Chesapeake Funding II LLC1.910% 08/15/20290.3%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.3%
Wabtec Corp.4.700% 09/15/20280.3%
Chesapeake Funding II LLC1.880% 06/15/20280.3%
Netflix, Inc.4.375% 11/15/20260.3%
Sirius XM Radio, Inc.5.000% 08/01/20270.3%
Chesapeake Funding II LLC1.990% 05/15/20290.3%
Foursight Capital Automobile Receivables Trust 2012.850% 08/16/20210.3%
BBCMS 2018-TALL Mortgage Trust4.946% 03/15/20370.3%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.3%
VEREIT Operating Partnership L.P.3.950% 08/15/20270.3%
Shelter Growth CRE 2018-FL1 Issuer Ltd3.509% 01/15/20350.3%
United Technologies Corp.3.650% 08/16/20230.3%
Time Warner Cable LLC6.550% 05/01/20370.3%
Sprint Capital Corp.6.875% 11/15/20280.3%
Dominion Resources, Inc.7.000% 06/15/20380.3%
Glencore Finance Canada Ltd.5.550% 10/25/20420.3%
Engs Commercial Finance Trust 2018-12.970% 02/22/20210.3%
Hyundai Auto Lease Securitization Trust 2017-C1.890% 03/16/20200.3%
21st Century Fox America, Inc.7.750% 12/01/20450.3%
Macquarie Group Ltd.4.654% 03/27/20290.3%
Hilton Orlando Trust 2018-ORL4.209% 12/15/20340.3%
BX Trust 2018-GW3.309% 05/15/20350.3%
1345 Avenue of the Americas & Park Avenue Plaza Tr5.278% 08/10/20350.3%
JP Morgan Chase Commercial Mortgage Securities Tru4.609% 06/15/20320.3%
Wells Fargo Commercial Mortgage Trust4.128% 05/15/20480.2%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.2%
Mercedes-Benz Auto Lease Trust 2018-B3.040% 12/15/20200.2%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.2%
Time Warner Cable LLC7.300% 07/01/20380.2%
WFRBS Commercial Mortgage Trust4.893% 08/15/20450.2%
World Financial Network Credit Card Master Trust2.310% 08/15/20240.2%
Ford Motor Co.7.450% 07/16/20310.2%
COMM Mortgage Trust4.440% 07/10/20500.2%
DLL 2018-2 LLC3.140% 10/20/20200.2%
WFRBS Commercial Mortgage Trust4.344% 03/15/20480.2%
Natixis Commercial Mortgage Securities Trust 2018-3.790% 11/15/20320.2%
COMM Mortgage Trust4.349% 12/10/20470.2%
JP Morgan Chase Commercial Mortgage Securities Tru5.509% 06/15/20350.2%
Natixis Commercial Mortgage Securities Trust 2018-3.790% 11/15/20320.2%
Diamond Resorts Owner Trust4.110% 10/22/20290.2%
Drive Auto Receivables Trust5.150% 08/15/20220.2%
Valero Energy Corp.10.500% 03/15/20390.2%
ACC Trust 2018-13.700% 12/21/20200.2%
GS Mortgage Securities Trust4.510% 11/10/20470.2%
Bank of America Corp.3.593% 07/21/20280.2%
Universal Health Services, Inc.4.750% 08/01/20220.2%
Warner Media LLC6.250% 03/29/20410.2%
Dell International LLC / EMC Corp.8.350% 07/15/20460.2%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.2%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.2%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.2%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.2%
Hilton Orlando Trust 2018-ORL3.279% 12/15/20340.2%
Gray Television, Inc.7.000% 05/15/20270.2%
Valeant Pharmaceuticals International, Inc.9.250% 04/01/20260.2%
Nvent Finance Sarl4.550% 04/15/20280.2%
Asbury Automotive Group, Inc.6.000% 12/15/20240.2%
Dell International LLC / EMC Corp7.125% 06/15/20240.2%
L Brands, Inc.5.250% 02/01/20280.2%
Chesapeake Funding II LLC2.110% 03/15/20280.2%
Embraer Netherlands Finance BV5.050% 06/15/20250.2%
United Rentals, Inc.4.875% 01/15/20280.2%
California Republic Auto Receivables Trust2.530% 06/15/20210.2%
SM Energy Co.6.625% 01/15/20270.2%
The Royal Bank of Scotland Group PLC6.125% 12/15/20220.2%
Morgan Stanley4.000% 07/23/20250.2%
JP Morgan Chase Commercial Mortgage Securities Cor4.128% 07/05/20310.2%
Goldman Sachs Group, Inc.4.223% 05/01/20290.2%
National Oilwell Varco, Inc.2.600% 12/01/20220.2%
PHEAA Student Loan Trust I3.041% 04/25/20380.2%
COMM Mortgage Trust4.258% 08/10/20500.2%
Discover Financial Services4.100% 02/09/20270.2%
Anheuser-Busch InBev Worldwide, Inc.4.750% 01/23/20290.2%
JP Morgan Chase Commercial Mortgage Securities Tru3.509% 06/15/20320.2%
CNO Financial Group, Inc.5.250% 05/30/20250.2%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.2%
JP Morgan Chase Commercial Mortgage Securities Tru4.109% 06/15/20320.2%
American Credit Acceptance Receivables Trust 2018-3.380% 12/13/20210.2%
Energy Transfer Operating LP6.125% 12/15/20450.2%
Discover Card Execution Note Trust3.040% 07/15/20240.2%
Toronto-Dominion Bank3.625% 09/15/20310.2%
Government National Mortgage Association2.700% 08/16/20580.2%
Santander UK plc7.950% 10/26/20290.2%
Caesars Palace Las Vegas Trust 2017-VICI3.531% 10/15/20340.2%
Protective Life Corp.8.450% 10/15/20390.2%
Drive Auto Receivables Trust3.040% 11/15/20210.2%
Navient Corp.6.750% 06/25/20250.2%
YPF S.A.8.500% 03/23/20210.2%
Exelon Generation Co. LLC5.600% 06/15/20420.2%
Metropolitan Edison Co.4.300% 01/15/20290.2%
DaVita, Inc.5.000% 05/01/20250.2%
ReadyCap Commercial Mortgage Trust 2018-43.390% 02/27/20510.2%
Government National Mortgage Association2.750% 02/16/20580.2%
Drive Auto Receivables Trust 2018-53.080% 07/15/20210.2%
Motel 6 Trust 2017-MTL65.759% 08/15/20340.2%
PGT Escrow Issuer Inc6.750% 08/01/20260.2%
Government National Mortgage Association2.700% 04/16/20570.2%
Fibria Overseas Finance Ltd.4.000% 01/14/20250.1%
Diamond Resorts Owner Trust2.990% 05/22/20280.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
Calpine Corp.5.750% 01/15/20250.1%
Verizon Communications, Inc.4.862% 08/21/20460.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.1%
JP Morgan Chase Commercial Mortgage Securities Cor4.613% 07/05/20310.1%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.1%
Match Group, Inc.5.000% 12/15/20270.1%
MPT Operating Partnership L.P.5.000% 10/15/20270.1%
Charter Communications Operating LLC6.484% 10/23/20450.1%
CIT Group, Inc.6.125% 03/09/20280.1%
Government National Mortgage Association2.600% 06/16/20570.1%
Trimble Navigation Ltd.4.900% 06/15/20280.1%
Sabine Pass Liquefaction LLC5.625% 03/01/20250.1%
Hub International Ltd.7.000% 05/01/20260.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.1%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.1%
Williams Scotsman International Inc6.875% 08/15/20230.1%
TCF Auto Receivables Owner Trust3.530% 03/15/20220.1%
World Financial Network Credit Card Master Trust1.980% 06/15/20230.1%
Citigroup, Inc.4.450% 09/29/20270.1%
Cablevision Systems Corp.5.875% 09/15/20220.1%
American International Group, Inc.4.700% 07/10/20350.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
Fidelity National Financial Group4.500% 08/15/20280.1%
BMW Vehicle Owner Trust 2018-A2.090% 11/25/20200.1%
Tesla Motors, Inc.5.300% 08/15/20250.1%
Drive Auto Receivables Trust2.750% 10/15/20200.1%
World Omni Select Auto Trust 2018-13.240% 04/15/20220.1%
Pulte Group, Inc.5.500% 03/01/20260.1%
Capital One Multi-Asset Execution Trust1.330% 06/15/20220.1%
TRI Pointe Homes LLC5.250% 06/01/20270.1%
Drive Auto Receivables Trust 2018-52.829% 07/15/20210.1%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.1%
MSCI, Inc.5.750% 08/15/20250.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.113% 07/05/20330.1%
Aquarion Co.4.000% 08/15/20240.1%
IRB Holding Corp6.750% 02/15/20260.1%
International Lease Finance Corp.5.875% 08/15/20220.1%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.1%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.1%
Daimler Trucks Retail Trust 2018-12.600% 05/15/20200.1%
Federal Home Loan Mortgage Corp.3.444% 12/25/20270.1%
Ashland, Inc.6.875% 05/15/20430.1%
WFRBS Commercial Mortgage Trust3.488% 09/15/20570.1%
California Resources Corp.8.000% 12/15/20220.1%
GS Mortgage Securities Corp Trust 2018-FBLU5.259% 11/15/20350.1%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.248% 07/05/20330.1%
Rain CII Carbon LLC7.250% 04/01/20250.1%
Community Health Systems, Inc.8.000% 11/15/20190.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
Drive Auto Receivables Trust3.010% 11/15/20210.1%
Foursight Capital Automobile Receivables Trust 2012.870% 10/15/20210.1%
Con-way, Inc.6.700% 05/01/20340.1%
Drive Auto Receivables Trust3.720% 09/16/20240.1%
GS Mortgage Securities Corp Trust 2018-FBLU3.458% 11/15/20350.1%
Orec 2018-CRE1 Ltd3.689% 06/15/20360.1%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.1%
Kraft Heinz Foods Co.6.875% 01/26/20390.1%
Canadian Natural Resources Ltd.3.850% 06/01/20270.1%
Kennametal, Inc.4.625% 06/15/20280.1%
Caesars Palace Las Vegas Trust 2017-VICI3.835% 10/15/20340.1%
Continental Resources, Inc.4.900% 06/01/20440.1%
MEG Energy Corp.6.375% 01/30/20230.1%
William Lyon Homes, Inc.5.875% 01/31/20250.1%
Ally Financial, Inc.8.000% 11/01/20310.1%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.1%
Rockies Express Pipeline LLC6.875% 04/15/20400.1%
AMC Networks, Inc.4.750% 08/01/20250.1%
BWAY Holding Co.7.250% 04/15/20250.1%
DISH DBS Corp.7.750% 07/01/20260.1%
Ford Credit Floorplan Master Owner Trust A2.160% 09/15/20220.1%
Norbord, Inc.6.250% 04/15/20230.1%
Solera Finance, Inc.10.500% 03/01/20240.1%
First Investors Auto Owner Trust 2018-23.230% 12/15/20220.1%
Drive Auto Receivables Trust2.780% 10/15/20200.1%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.1%
Helmerich & Payne, Inc.4.650% 03/15/20250.1%
Credit Index Swap1.000% 12/20/20230.1%
Campbell Soup Co.3.800% 08/02/20420.1%
South Carolina Electric & Gas Co.6.050% 01/15/20380.1%
Neuberger Berman Group LLC4.500% 03/15/20270.1%
Goodman US Finance Three LLC3.700% 03/15/20280.1%
Mercedes-Benz Auto Lease Trust 2018-A2.200% 04/15/20200.1%
Americredit Automobile Receivables Trust 2018-33.110% 01/18/20220.1%
Americredit Automobile Receivables Trust 2018-32.763% 01/18/20220.1%
Oglethorpe Power Corp.5.050% 10/01/20480.1%
HCA, Inc.5.500% 06/15/20470.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
UTEX Industries6.499% 05/22/20210.1%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.1%
Amgen, Inc.6.400% 02/01/20390.1%
CEC Entertainment, Inc.8.000% 02/15/20220.1%
Weight Watchers International, Inc.7.560% 11/29/20240.1%
Conn's, Inc.7.250% 07/15/20220.1%
Weight Watchers International, Inc.8.625% 12/01/20250.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
Bank of America Corp.3.824% 01/20/20280.1%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Colonial Pipeline Co.4.250% 04/15/20480.1%
Goldman Sachs Group, Inc.6.750% 10/01/20370.1%
Macquarie Bank Ltd.6.625% 04/07/20210.1%
E*TRADE Financial Corp.4.500% 06/20/20280.1%
HCA, Inc.7.500% 11/06/20330.1%
Fluor Corp.4.250% 09/15/20280.1%
Orange Lake Timeshare Trust 2015-A2.880% 09/08/20270.1%
Continental Resources, Inc.4.500% 04/15/20230.1%
Valmont Industries, Inc.5.250% 10/01/20540.1%
Rayonier AM Products, Inc.5.500% 06/01/20240.1%
Neuberger Berman Group LLC4.875% 04/15/20450.1%
Exelon Generation Co. LLC6.250% 10/01/20390.1%
Alta Mesa Holdings L.P. / Alta Mesa Finance Servic7.875% 12/15/20240.1%
Summit Materials LLC5.125% 06/01/20250.1%
Pulte Group, Inc.7.875% 06/15/20320.1%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.1%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.1%
Flagship Credit Auto Trust 2018-12.590% 06/15/20220.1%
SPX FLOW, Inc.5.625% 08/15/20240.1%
Bombardier, Inc.7.500% 03/15/20250.1%
BAT Capital Corp3.557% 08/15/20270.1%
SLIDE 2018-FUN4.359% 06/15/20310.1%
Hillman Group, Inc.6.375% 07/15/20220.1%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Popular, Inc.6.125% 09/14/20230.1%
Sealed Air Corp.5.500% 09/15/20250.1%
WellCare Health Plans, Inc.5.250% 04/01/20250.1%
Brink's Co/The4.625% 10/15/20270.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson5.750% 03/15/20250.1%
Eldorado Resorts, Inc.6.000% 04/01/20250.1%
York Risk Services6.249% 10/01/20210.1%
William Lyon Homes, Inc.6.000% 09/01/20230.1%
CIT Group, Inc.6.000% 04/01/20360.1%
California Republic Auto Receivables Trust 2017-11.900% 03/15/20210.1%
General Electric Co.2.962% 05/05/20260.1%
Government National Mortgage Association2.700% 07/16/20570.1%
First Investors Auto Owner Trust2.410% 12/15/20220.1%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.1%
Freeport-McMoRan, Inc.3.875% 03/15/20230.1%
Lennar Corp.4.750% 11/29/20270.1%
Sprint Corp.7.875% 09/15/20230.1%
Government National Mortgage Association2.650% 11/16/20500.1%
Targa Resources Partners L.P.5.375% 02/01/20270.1%
Appalachian Power Co.7.000% 04/01/20380.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.1%
TNT Crane and Rigging7.303% 11/27/20200.1%
Carnival plc7.875% 06/01/20270.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
National Oilwell Varco, Inc.3.950% 12/01/20420.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Drive Auto Receivables Trust3.020% 11/15/20210.1%
CenturyLink, Inc.6.750% 12/01/20230.1%
WPX Energy, Inc.5.250% 09/15/20240.1%
Quality Distribution, Inc.11.303% 08/18/20230.1%
American Credit Acceptance Receivables Trust 2018-2.720% 03/10/20210.1%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The3.359% 01/15/20330.1%
EPR Properties4.950% 04/15/20280.1%
Drive Auto Receivables Trust4.160% 05/15/20240.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.1%
EPR Properties4.500% 06/01/20270.1%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.1%
OM Asset Management plc4.800% 07/27/20260.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Citgo Holding, Inc.10.750% 02/15/20200.0%
Expedia, Inc.5.000% 02/15/20260.0%
J.P. Morgan Chase Commercial Mortgage Securities T4.950% 07/05/20330.0%
J.P. Morgan Chase Commercial Mortgage Securities T4.549% 07/05/20330.0%
Government National Mortgage Association2.600% 07/16/20580.0%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.0%
EPR Properties4.750% 12/15/20260.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.859% 11/15/20350.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.529% 11/15/20350.0%
COMM Mortgage Trust4.440% 07/10/20500.0%
Drive Auto Receivables Trust3.340% 09/15/20220.0%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.0%
J.P. Morgan Chase Commercial Mortgage Securities T3.463% 07/05/20330.0%
First Investors Auto Owner Trust2.720% 04/17/20230.0%
Flagship Credit Auto Trust 2017-32.590% 07/15/20220.0%
JPMBB Commercial Mortgage Securities Trust4.278% 07/15/20480.0%
Peabody Energy Corp.6.375% 03/31/20250.0%
Morgan Stanley3.625% 01/20/20270.0%
Vulcan Materials Co.4.700% 03/01/20480.0%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.0%
E*TRADE Financial Corp.3.800% 08/24/20270.0%
Intelsat Connect Finance SA9.500% 02/15/20230.0%
Dell International LLC / EMC Corp.5.450% 06/15/20230.0%
Bank of America Corp.4.450% 03/03/20260.0%
JP Morgan Chase Commercial Mortgage Securities Tru2.829% 10/15/20450.0%
Reynolds American, Inc.5.700% 08/15/20350.0%
Bayer Corp6.650% 02/15/20280.0%
Six Flags Entertainment Corp.5.500% 04/15/20270.0%
California Republic Auto Receivables Trust 2016-22.520% 05/16/20220.0%
Cleco Power LLC6.000% 12/01/20400.0%
South Carolina Electric & Gas Co.6.625% 02/01/20320.0%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.0%
Kinross Gold Corp.5.950% 03/15/20240.0%
Berkshire Hathaway Energy Co.3.800% 07/15/20480.0%
Bank of America Corp.4.000% 01/22/20250.0%
Berry Petroleum Co.7.000% 02/15/20260.0%
AmeriCredit Automobile Receivables Trust 2017-32.240% 06/19/20230.0%
Chesapeake Energy Corp.7.500% 10/01/20260.0%
Drive Auto Receivables Trust3.910% 05/17/20210.0%
PPL Corp.5.200% 07/15/20410.0%
Santander Drive Auto Receivables Trust 2018-12.100% 11/16/20200.0%
Drive Auto Receivables Trust2.610% 08/16/20210.0%
Indigo Natural Resources LLC6.875% 02/15/20260.0%
Monitronics International, Inc.9.125% 04/01/20200.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.0%
Republic of Argentina4.625% 01/11/20230.0%
Mercedes-Benz Auto Receivables Trust 2016-11.260% 02/16/20210.0%
SunTrust Auto Receivables Trust1.780% 01/15/20210.0%
Flagship Credit Auto Trust 2017-31.880% 10/15/20210.0%
Pennsylvania5.350% 05/01/20300.0%
Westlake Automobile Receivables Trust 2017-21.800% 07/15/20200.0%
Santander Drive Auto Receivables Trust 2017-32.760% 12/15/20220.0%
Central Garden & Pet Co.5.125% 02/01/20280.0%
Grinding Media, Inc. / MC Grinding Media Canada, I7.375% 12/15/20230.0%
Acadia Healthcare Co., Inc.6.500% 03/01/20240.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
Morgan Stanley3.875% 01/27/20260.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
General Electric Co.3.150% 09/07/20220.0%
Ascentium Equipment Receivables 2017-1 Trust2.290% 06/10/20210.0%
Santander Drive Auto Receivables Trust 2016-31.890% 06/15/20210.0%
AmeriCredit Automobile Receivables Trust 2017-31.690% 12/18/20200.0%
Ally Auto Receivables Trust 2017-51.810% 06/15/20200.0%
GM Financial Automobile Leasing Trust 2017-21.720% 01/21/20200.0%
Honda Auto Receivables 2016-2 Owner Trust1.390% 04/15/20200.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
GM Financial Automobile Leasing Trust 2016-31.610% 12/20/20190.0%
Flagship Credit Auto Trust2.380% 10/15/20200.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
AmeriCredit Automobile Receivables Trust 2015-32.080% 09/08/20200.0%
FX EUR/USD 03/190.000% 03/07/20190.0%
US ULTRA BOND CBT MAR190.000% 03/29/20190.0%
US 2YR NOTE (CBT) MAR190.000% 04/03/20190.0%
EURO-SCHATZ FUT MAR190.000% 03/11/20190.0%
US 10YR ULTRA FUT MAR190.000% 03/29/20190.0%
US 5YR NOTE (CBT) MAR190.000% 04/03/20190.0%
Commercial Mortgage Backed Index Swap0.500% 11/18/20540.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Commercial Mortgage Backed Index Swap0.500% 09/17/20580.0%
Commercial Mortgage Backed Index Swap0.500% 09/17/20580.0%
Commercial Mortgage Backed Index Swap0.500% 09/17/20580.0%
Commercial Mortgage Backed Index Swap0.500% 09/17/20580.0%
Commercial Mortgage Backed Index Swap0.350% 09/17/2058-0.1%
Commercial Mortgage Backed Index Swap0.500% 09/17/2058-0.1%

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 03/19/2019
$0.091
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 02/28/2019 $0.04406 $14.68
Daily Daily 01/31/2019 $0.04742 $14.69

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 03/31/2019
Daily Daily 04/30/2019
Daily Daily 05/31/2019
Daily Daily 06/30/2019
Daily Daily 07/31/2019
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

Fees & Expenses

Fees & Expenses

Expense Ratioas of 02/28/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
2.24% 0.47%

Expense ratio details, Click here.

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

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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.

 

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt 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 high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. 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. The fund performance history at this time is very limited; therefore, performance achieved during its initial period of investment operation may not be replicated over longer periods and may not be indicative of how the Fund will perform in the future. Past performance is no guarantee of future results.

 

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.

 

 

Class F3 - The inception date for Class F3 shares is April 4, 2017. The performance quotations for Class F3 are based on the following methods of calculation: (a) for periods prior to April 4, 2017,  performance is based on the historical performance of the Fund’s Class R6 shares, which have an equivalent expense ratio to the Fund’s F3 shares; and (b) for periods after April 4, 2017, actual Class F3 performance is used, which reflects all charges and fees applicable to Class F3 shares.

Class F3 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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 Bloomberg Barclays U.S. Universal Index represents the union of the U.S. Aggregate Index, the U.S. High-Yield Corporate Index, the 144A Index, the Eurodollar Index, the Emerging Markets Index, and the non-ERISA portion of the CMBS Index. Municipal debt, private placements, and non-dollar-denominated issues are excluded from the Universal Index. The only constituent of the index that includes floating-rate debt is the Emerging Markets Index.

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.

 

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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