LOPLX | Core Plus Bond Fund Class F3 | Lord Abbett
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Core Plus Bond Fund

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 10/21/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.39% 2.95%

30-Day Standardized Yield 2 as of 09/30/2020  

2.45%

Fund Basicsas of 09/30/2020

Total Net Assets
$285.24 M
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.83%
Fund Net Expense Ratio
0.39%
Number of Holdings
643

Fund Expense Ratio :

Gross 0.83%

Net 0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 4.71% 5.29% 4.87% - - 5.05%
Lipper Category Avg. Core Plus Bond Funds 6.91% 7.32% 5.07% - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.79% 6.98% 5.24% - - -

Fund Expense Ratio :

Gross 0.83%

Net 0.39%

Fund Expense Ratio :

Gross 0.83%

Net 0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 4.71% 5.29% 4.87% - - 5.05%
Lipper Category Avg. Core Plus Bond Funds 6.91% 7.32% 5.07% - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.79% 6.98% 5.24% - - -

Fund Expense Ratio :

Gross 0.83%

Net 0.39%

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

Credit Quality Distribution as of 09/30/2020 View Portfolio

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

Investment Team

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

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

Partner & Portfolio Manager

22 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Director of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Director of Taxable Fixed Income

29 Years of Industry Experience

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

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Performance

Performance

Dividend Yield 1 as of 10/21/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.39% 2.95%

30-Day Standardized Yield 2 as of 09/30/2020  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.45% 2.45%

Fund Expense Ratio :

Gross 0.83%

Net 0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 4.71% 5.29% 4.87% - - 5.05%
Lipper Category Avg. Core Plus Bond Funds 6.91% 7.32% 5.07% - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.79% 6.98% 5.24% - - -

Fund Expense Ratio :

Gross 0.83%

Net 0.39%

Fund Expense Ratio :

Gross 0.83%

Net 0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 4.71% 5.29% 4.87% - - 5.05%
Lipper Category Avg. Core Plus Bond Funds 6.91% 7.32% 5.07% - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.79% 6.98% 5.24% - - -

Fund Expense Ratio :

Gross 0.83%

Net 0.39%

Portfolio

Portfolio

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

Credit Quality Distribution as of 09/30/2020

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

Portfolio Positioningas of 6/30/2020

  • Over the quarter the largest change in the portfolio composition was an increase to corporate credit – both high yield and investment grade. Most notably, we added to corporate issues within consumer non-cyclical, technology, and energy sectors. We believe these sectors will continue to benefit from the gradual re-opening of the economy.
  • We decreased the allocation to U.S. Treasuries over the period. With rates rallying in the first quarter as investors flocked into Treasuries and moved out of corporate credit, we saw an opportunity to sell Treasuries in order to aim to take advantage of attractive relative value in risk-on sectors.
  • We maintained our overweight position within asset-backed securities (ABS). We favor high quality ABS that are backed by credit cards and auto loans, and we have avoided areas of the market that have been more directly exposed to the impact of the coronavirus (such as container and aircraft ABS).

Portfolio Details as of 09/30/2020

Total Net Assets
$285.24 M
Number of Issues
643
Average Coupon
3.7%
Average Life
6.77 Years
Average Maturity
6.77 Years
Average Effective Duration
5.78 Years
Average Modified Duration
6.15 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 10/21/2020
$0.408
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2020 $0.04412 $15.59
Daily Daily 08/31/2020 $0.04533 $15.66
Daily Daily 07/31/2020 $0.04725 $15.72
Daily Daily 06/30/2020 $0.04760 $15.31
Daily Daily 05/31/2020 $0.04748 $15.16
Daily Daily 04/30/2020 $0.04940 $14.93
Daily Daily 03/31/2020 $0.04692 $14.63
Daily Daily 02/29/2020 $0.04074 $15.64
Daily Daily 01/31/2020 $0.03980 $15.54

Upcoming Dividend Payment Dates

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

Yield

Yield

Dividend Yield as of 10/21/2020  

  Subsidized Un-Subsidized
w/o sales charge 3.39% 2.95%

30-Day Standardized Yield as of 09/30/2020  

Subsidized Un-Subsidized
2.45% 2.45%

Fees & Expenses

Fees & Expenses

Expense Ratioas of 09/30/2020

Fund Gross Expense Ratio Fund Net Expense Ratio
0.83% 0.39%

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

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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.

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

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