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Core Plus Bond Fund

Daily price w/o sales charge as of 09/18/2018

$14.60

arrowDown$0.03

YTD Returns w/o sales charge as of 09/18/2018

-0.93%

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 09/18/2018  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.11% 2.26%

30-Day Standardized Yield 2 as of 08/31/2018  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.72% 2.08%

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

Fund Basicsas of 08/31/2018

Total Net Assets
$13.15 M
Inception Date
12/08/2015
Dividend Frequency
Monthly
Fund Gross Expense Ratio
2.31%
Fund Net Expense Ratio
0.46%
Number of Holdings
414
CUSIP
54401E549
Minimum Initial Investment
$1,000,000+

+Minimum Exceptions, Click here.

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

Fund Expense Ratio :

Gross 2.31%

Net 0.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge -0.66% -0.24% - - - 3.42%
Lipper Category Avg. Core Plus Bond Funds -1.04% -0.98% - - - -
Bloomberg Barclays U.S. Universal Index -0.98% -0.93% - - - 2.41%

Fund Expense Ratio :

Gross 2.31%

Net 0.46%

Fund Expense Ratio :

Gross 2.31%

Net 0.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge -1.47% 0.22% - - - 3.31%
Lipper Category Avg. Core Plus Bond Funds -1.74% -0.34% - - - -
Bloomberg Barclays U.S. Universal Index -1.67% -0.27% - - - 2.30%

Fund Expense Ratio :

Gross 2.31%

Net 0.46%

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

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

Maturity Assets
Less than 1 year
1-2.99 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 08/31/2018 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

24 Years of Industry Experience

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

Partner & Portfolio Manager

20 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

17 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

27 Years of Industry Experience

Supported By 60 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 09/18/2018  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.11% 2.26%

30-Day Standardized Yield 2 as of 08/31/2018  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.72% 2.08%

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

Fund Expense Ratio :

Gross 2.31%

Net 0.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge -0.66% -0.24% - - - 3.42%
Lipper Category Avg. Core Plus Bond Funds -1.04% -0.98% - - - -
Bloomberg Barclays U.S. Universal Index -0.98% -0.93% - - - 2.41%

Fund Expense Ratio :

Gross 2.31%

Net 0.46%

Fund Expense Ratio :

Gross 2.31%

Net 0.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge -1.47% 0.22% - - - 3.31%
Lipper Category Avg. Core Plus Bond Funds -1.74% -0.34% - - - -
Bloomberg Barclays U.S. Universal Index -1.67% -0.27% - - - 2.30%

Fund Expense Ratio :

Gross 2.31%

Net 0.46%

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

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

Rating Assets
Less than 1 year
1-2.99 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 08/31/2018

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 3/31/2018

  • We remain generally optimistic that the U.S. economy will continue to grow at a moderate pace, given the implementation of tax cuts, prospects of deregulation, and strong economic fundamentals. However, given the current valuations and the potential for increased volatility, we continue to closely monitor the risks to the portfolio. We are seeking carry-oriented and idiosyncratic opportunities that would provide a diversified source of return to the portfolio.
  • We increased the portfolio’s exposure to high quality asset-backed securities (ABS), specifically backed by credit cards, auto loans, and equipment, as we believe they provide liquidity and present unique opportunities to find pockets of relative value and attractive risk-adjusted spread. We reduced the portfolio’s exposure to U.S. Treasuries in order to take advantage of more attractive investments in other sectors.
  • We increased the portfolio’s allocation to investment grade corporate bonds. During the recent market volatility, we found this area of the market attractive, given spread widening. We moderately increased the portfolio’s positioning to names that we believe have attractive valuations and positive credit fundamentals, specifically the financials sector, which continues to offer defensive exposure and good credit quality, amid stricter regulations and better underwriting standards. We also continue to find areas of opportunity in the high yield sector, specifically within the industrials, energy, and consumer cyclical areas.
  • We increased the portfolio’s allocation to high quality agency mortgage-backed securities (MBS), which appeared especially attractive relative to other sectors, following the uptick in volatility during the quarter. However, we continue to closely monitor the sector given the U.S. Federal Reserve’s plan to systematically unwind its balance sheet, which has the potential to further increase interest rate volatility.

Portfolio Details as of 08/31/2018

Total Net Assets
$13.15 M
Number of Issues
414
Average Coupon
4.10%
Average Life
8.12 Years
Average Maturity
8.12 Years
Average Effective Duration
5.59 Years
Average Modified Duration
6.08 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% 05/31/2047 16.0%
FNMA Conventional Long T. 30yr 4.000% 04/30/2047 8.3%
United States Treasury Bill 0.000% 12/13/2018 5.9%
Seneca Park CLO Ltd. 3.456% 07/17/2026 1.9%
U.S. Treasury Note/Bond 3.000% 02/15/2048 1.4%
Citigroup, Inc. 3.887% 01/10/2028 1.1%
Access Point Funding I 2017-1 LLC 3.060% 04/15/2029 0.9%
Federal Home Loan Mortgage Corp. 4.000% 08/01/2047 0.9%
BBCMS Trust 4.197% 08/10/2035 0.8%
Atrium Hotel Portfolio Trust 2018-ATRM 3.013% 06/15/2035 0.8%
% of Total Assets 38.0%

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
FNMA Conventional Long T. 30yr4.500% 05/31/204715.8%
FNMA Conventional Long T. 30yr4.000% 04/30/20473.5%
United States Treasury Bill0.000% 12/13/20183.1%
Dryden 38 Senior Loan Fund3.769% 07/15/20271.9%
U.S. Treasury Note/Bond2.500% 06/30/20201.7%
U.S. Treasury Note/Bond2.750% 02/15/20281.4%
U.S. Treasury Note/Bond3.125% 05/15/20481.2%
Citigroup, Inc.3.887% 01/10/20281.0%
Access Point Funding I 2017-1 LLC3.060% 04/15/20291.0%
Bank of America Corp.3.824% 01/20/20280.9%
U.S. Treasury Note/Bond2.750% 07/31/20230.9%
Federal Home Loan Mortgage Corp.4.000% 08/01/20470.9%
Missouri Higher Education Loan Authority2.921% 01/26/20260.8%
AT&T, Inc.6.000% 08/15/20400.8%
BBCMS Trust4.197% 08/10/20350.8%
Chesapeake Funding II LLC1.880% 06/15/20280.8%
Atrium Hotel Portfolio Trust 2018-ATRM3.022% 06/15/20350.8%
GS Mortgage Securities Corp. II3.027% 07/15/20350.8%
ACC Trust 2018-14.820% 05/20/20210.8%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.8%
Foursight Capital Automobile Receivables Trust 2012.850% 08/16/20210.8%
Citibank Credit Card Issuance Trust1.740% 01/19/20210.8%
Synchrony Credit Card Master Note Trust2.040% 03/15/20220.8%
Discover Card Execution Note Trust1.640% 07/15/20210.8%
CPS Auto Receivables Trust 2018-A2.770% 04/18/20220.8%
FNMA Conventional Long T. 30yr3.500% 05/31/20470.8%
PFS Financing Corp.2.890% 02/15/20230.8%
Credit Suisse Mortgage Capital Certificates3.811% 11/15/20340.8%
Chase Issuance Trust1.270% 07/15/20210.8%
BB-UBS Trust3.430% 11/05/20360.8%
DLL Securitization Trust 2017-A2.430% 11/17/20250.7%
SoFi Professional Loan Program 2017-E LLC2.720% 11/26/20400.7%
BWAY 2015-1740 Mortgage Trust2.917% 01/10/20350.7%
CVS Caremark Corp.4.300% 03/25/20280.7%
Hyundai Auto Lease Securitization Trust 2017-C1.890% 03/16/20200.7%
Synchrony Credit Card Master Note Trust2.620% 10/15/20250.7%
Chesapeake Funding II LLC1.910% 08/15/20290.6%
Eni USA Inc7.300% 11/15/20270.6%
ACC Trust 2018-13.700% 12/21/20200.6%
Engs Commercial Finance Trust 2018-12.970% 02/22/20210.6%
COMM Mortgage Trust4.440% 07/10/20500.6%
Navient Student Loan Trust 2017-23.114% 12/27/20660.6%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.6%
Chesapeake Funding II LLC1.990% 05/15/20290.6%
Universal Health Services, Inc.5.000% 06/01/20260.6%
Chesapeake Funding II LLC2.110% 03/15/20280.6%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.6%
General Motors Co.6.600% 04/01/20360.6%
Drive Auto Receivables Trust2.750% 10/15/20200.6%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.5%
Pacific Gas & Electric Co.6.050% 03/01/20340.5%
BX Commercial Mortgage Trust 2018-BIOA2.743% 03/15/20370.5%
Dell International LLC / EMC Corp6.020% 06/15/20260.5%
Wells Fargo Commercial Mortgage Trust4.288% 07/15/20460.5%
Shelter Growth CRE 2018-FL1 Issuer Ltd3.010% 01/15/20350.5%
U.S. Treasury Note/Bond2.625% 07/31/20200.5%
Nvent Finance Sarl4.550% 04/15/20280.5%
Cox Communications, Inc.8.375% 03/01/20390.5%
Diamond Resorts Owner Trust4.110% 10/22/20290.5%
American International Group, Inc.4.700% 07/10/20350.5%
Time Warner Cable LLC6.550% 05/01/20370.5%
Ford Motor Co.7.450% 07/16/20310.4%
VEREIT Operating Partnership L.P.3.950% 08/15/20270.4%
Trimble Navigation Ltd.4.900% 06/15/20280.4%
21st Century Fox America, Inc.7.750% 12/01/20450.4%
Glencore Finance Canada Ltd.5.550% 10/25/20420.4%
Comcast Corp.3.150% 03/01/20260.4%
Macquarie Group Ltd.4.654% 03/27/20290.4%
JPMorgan Chase & Co.3.782% 02/01/20280.4%
Wells Fargo Capital X5.950% 12/15/20360.4%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.4%
1345 Avenue of the Americas & Park Avenue Plaza Tr5.278% 08/10/20350.4%
Boston Properties, Inc.3.200% 01/15/20250.4%
Valero Energy Corp.10.500% 03/15/20390.4%
Wells Fargo Commercial Mortgage Trust4.130% 05/15/20480.4%
Verizon Communications, Inc.4.862% 08/21/20460.4%
World Financial Network Credit Card Master Trust2.310% 08/15/20240.4%
Drive Auto Receivables Trust5.150% 08/15/20220.4%
Comm 2014-UBS2 Mortgage Trust4.199% 03/10/20470.4%
WFRBS Commercial Mortgage Trust4.892% 08/15/20450.4%
BMW Vehicle Owner Trust 2018-A2.090% 11/25/20200.4%
COMM Mortgage Trust4.440% 07/10/20500.4%
WFRBS Commercial Mortgage Trust4.334% 03/15/20480.4%
World Financial Network Credit Card Master Trust3.140% 01/17/20230.4%
COMM Mortgage Trust4.349% 12/10/20470.4%
GS Mortgage Securities Trust4.509% 11/10/20470.4%
Exelon Generation Co. LLC5.600% 06/15/20420.3%
Kerr-McGee Corp.7.875% 09/15/20310.3%
Hilton Orlando Trust 2018-ORL2.842% 12/15/20340.3%
Dominion Resources, Inc.7.000% 06/15/20380.3%
PHEAA Student Loan Trust I2.605% 04/25/20380.3%
Daimler Trucks Retail Trust 2018-12.600% 05/15/20200.3%
California Republic Auto Receivables Trust2.530% 06/15/20210.3%
The Royal Bank of Scotland Group PLC6.125% 12/15/20220.3%
Kinder Morgan, Inc.7.750% 01/15/20320.3%
Anheuser-Busch InBev Finance, Inc.4.700% 02/01/20360.3%
Hyundai Auto Lease Securitization Trust 2016-B1.520% 10/15/20190.3%
JP Morgan Chase Commercial Mortgage Securities Cor4.128% 07/05/20310.3%
VEREIT Operating Partnership L.P.3.000% 02/06/20190.3%
National Oilwell Varco, Inc.2.600% 12/01/20220.3%
Diamond Resorts Owner Trust2.990% 05/22/20280.3%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.3%
JP Morgan Chase Commercial Mortgage Securities Tru3.072% 06/15/20320.3%
United Rentals, Inc.4.875% 01/15/20280.3%
Foursight Capital Automobile Receivables Trust 2012.870% 10/15/20210.3%
Santander UK plc7.950% 10/26/20290.3%
Energy Transfer Partners LP6.125% 12/15/20450.3%
Protective Life Corp.8.450% 10/15/20390.3%
Government National Mortgage Association2.700% 08/16/20580.3%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.3%
BX Trust 2018-GW2.872% 05/15/20350.3%
Caesars Palace Las Vegas Trust 2017-VICI3.531% 10/15/20340.3%
Navient Corp.6.750% 06/25/20250.3%
ReadyCap Commercial Mortgage Trust 2018-43.390% 02/27/20510.3%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.3%
Goldman Sachs Group, Inc.6.750% 10/01/20370.3%
Anheuser-Busch InBev Finance, Inc.3.650% 02/01/20260.3%
American Credit Acceptance Receivables Trust 2018-2.720% 03/10/20210.3%
Mercedes-Benz Auto Lease Trust 2018-A2.200% 04/15/20200.3%
Government National Mortgage Association2.750% 02/16/20580.3%
Government National Mortgage Association2.700% 04/16/20570.2%
Rain CII Carbon LLC7.250% 04/01/20250.2%
US Cellular Corp.6.700% 12/15/20330.2%
Charter Communications Operating LLC6.484% 10/23/20450.2%
Government National Mortgage Association2.600% 06/16/20570.2%
EPR Properties4.950% 04/15/20280.2%
Florida Gas Transmission Co., LLC4.350% 07/15/20250.2%
Hanover Insurance Group, Inc.4.500% 04/15/20260.2%
Dell International LLC / EMC Corp.8.350% 07/15/20460.2%
Sirius XM Radio, Inc.5.000% 08/01/20270.2%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.2%
Assurant, Inc.4.900% 03/27/20280.2%
HudBay Minerals, Inc.7.625% 01/15/20250.2%
California Republic Auto Receivables Trust 2017-11.900% 03/15/20210.2%
TCF Auto Receivables Owner Trust3.530% 03/15/20220.2%
World Financial Network Credit Card Master Trust1.980% 06/15/20230.2%
TRI Pointe Homes LLC5.250% 06/01/20270.2%
Hardee's Funding LLC4.959% 06/20/20480.2%
California Resources Corp.8.000% 12/15/20220.2%
Bombardier, Inc.7.500% 03/15/20250.2%
Tesla Motors, Inc.5.300% 08/15/20250.2%
Xilinx, Inc.2.950% 06/01/20240.2%
Conn's Receivables Funding 2017-B LLC2.730% 07/15/20200.2%
Hilton Orlando Trust 2018-ORL3.772% 12/15/20340.2%
MSCI, Inc.5.750% 08/15/20250.2%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.2%
General Electric Co.6.150% 08/07/20370.2%
MGM Resorts International6.000% 03/15/20230.2%
Santander Drive Auto Receivables Trust 2018-12.100% 11/16/20200.2%
Gulfstream Natural Gas System LLC4.600% 09/15/20250.2%
J.P. Morgan Chase Commercial Mortgage Securities T3.340% 07/05/20330.2%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.2%
Citigroup Commercial Mortgage Trust 2017-P83.789% 09/15/20500.2%
Con-way, Inc.6.700% 05/01/20340.2%
Aquarion Co.4.000% 08/15/20240.2%
Vodafone Group plc4.375% 05/30/20280.2%
Caesars Palace Las Vegas Trust 2017-VICI4.138% 10/15/20340.2%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.2%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.2%
Community Health Systems, Inc.8.000% 11/15/20190.2%
Federal Home Loan Mortgage Corp.3.444% 12/25/20270.2%
J.P. Morgan Chase Commercial Mortgage Securities T4.248% 07/05/20230.2%
Silversea Cruise Finance Ltd.7.250% 02/01/20250.2%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor3.337% 12/15/20270.2%
Alta Mesa Holdings L.P. / Alta Mesa Finance Servic7.875% 12/15/20240.2%
Morgan Stanley3.625% 01/20/20270.2%
Drive Auto Receivables Trust3.010% 11/15/20210.2%
HCA, Inc.5.500% 06/15/20470.2%
Kraft Heinz Foods Co.6.875% 01/26/20390.2%
Rockies Express Pipeline LLC6.875% 04/15/20400.2%
William Lyon Homes, Inc.5.875% 01/31/20250.2%
Navios South American Logistics Inc / Navios Logis7.250% 05/01/20220.2%
Continental Resources, Inc.4.900% 06/01/20440.2%
Drive Auto Receivables Trust3.720% 09/16/20240.2%
BWAY Holding Co.7.250% 04/15/20250.2%
Kennametal, Inc.4.625% 06/15/20280.2%
Oracle Corp.6.125% 07/08/20390.2%
MEG Energy Corp.6.375% 01/30/20230.2%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.2%
Canadian Natural Resources Ltd.3.850% 06/01/20270.2%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.2%
Quicken Loans Inc5.250% 01/15/20280.2%
Caesars Palace Las Vegas Trust 2017-VICI3.835% 10/15/20340.2%
DISH DBS Corp.7.750% 07/01/20260.2%
CarMax Auto Owner Trust2.440% 11/16/20200.2%
Solera Finance, Inc.10.500% 03/01/20240.2%
Ford Credit Floorplan Master Owner Trust A2.160% 09/15/20220.2%
Dr. Pepper Snapple Group, Inc.4.597% 05/25/20280.2%
Leidos, Inc.7.125% 07/01/20320.2%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.2%
Weight Watchers International, Inc.8.625% 12/01/20250.2%
T-Mobile USA, Inc.6.500% 01/15/20260.2%
Time Warner Cable LLC7.300% 07/01/20380.2%
Ahern Rentals, Inc.7.375% 05/15/20230.2%
Dr. Pepper Snapple Group, Inc.5.085% 05/25/20480.2%
Helmerich & Payne International Drilling Co.4.650% 03/15/20250.2%
UTEX Industries6.077% 05/22/20210.2%
BANK 2018-BNK103.898% 02/15/20610.2%
Vistra Energy Corp7.625% 11/01/20240.2%
Sirius XM Radio, Inc.6.000% 07/15/20240.2%
Flagship Credit Auto Trust 2018-12.590% 06/15/20220.2%
Eldorado Resorts, Inc.6.000% 04/01/20250.2%
Crosby Group (KKR)5.081% 11/22/20200.2%
Century Aluminum Co.7.500% 06/01/20210.2%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.2%
Popular, Inc.7.000% 07/01/20190.2%
Cablevision Systems Corp.5.875% 09/15/20220.2%
WellCare Health Plans, Inc.5.250% 04/01/20250.2%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.2%
York Risk Services5.827% 10/01/20210.2%
Intelsat Connect Finance SA12.500% 04/01/20220.2%
Pulte Group, Inc.5.500% 03/01/20260.2%
Neuberger Berman Group LLC4.500% 03/15/20270.2%
Comcast Corp.3.969% 11/01/20470.2%
AMC Networks, Inc.4.750% 12/15/20220.2%
Goodman US Finance Three LLC3.700% 03/15/20280.2%
Warrior Met Coal Inc8.000% 11/01/20240.2%
Calpine Corporation4.577% 01/15/20250.2%
Amgen, Inc.6.400% 02/01/20390.2%
Conn's, Inc.7.250% 07/15/20220.2%
Weight Watchers International, Inc.7.050% 11/29/20240.2%
AV Homes, Inc.6.625% 05/15/20220.2%
Continental Resources, Inc.3.800% 06/01/20240.2%
Drive Auto Receivables Trust3.910% 05/17/20210.1%
CEC Entertainment, Inc.8.000% 02/15/20220.1%
South Carolina Electric & Gas Co.6.050% 01/15/20380.1%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.1%
Westpac Banking Corp.4.322% 11/23/20310.1%
Edwards Lifesciences Corp.4.300% 06/15/20280.1%
JP Morgan Chase Commercial Mortgage Securities Tru4.172% 06/15/20320.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Drive Auto Receivables Trust3.020% 11/15/20210.1%
Colonial Pipeline Co.4.250% 04/15/20480.1%
Neuberger Berman Group LLC4.875% 04/15/20450.1%
Macquarie Bank Ltd.6.625% 04/07/20210.1%
Hillman Group, Inc.6.375% 07/15/20220.1%
E*TRADE Financial Corp.4.500% 06/20/20280.1%
Pulte Group, Inc.7.875% 06/15/20320.1%
Rayonier AM Products, Inc.5.500% 06/01/20240.1%
U.S. Treasury Note/Bond2.250% 08/15/20460.1%
AmeriCredit Automobile Receivables Trust2.180% 06/08/20200.1%
Morgan Stanley4.000% 07/23/20250.1%
U.S. Treasury Note/Bond3.000% 05/15/20450.1%
Valmont Industries, Inc.5.250% 10/01/20540.1%
Summit Materials LLC5.125% 06/01/20250.1%
HCA, Inc.7.500% 11/06/20330.1%
Marvell Technology Group Ltd.4.200% 06/22/20230.1%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.1%
Sealed Air Corp.5.500% 09/15/20250.1%
Scotts Miracle-Gro Co.6.000% 10/15/20230.1%
Netflix, Inc.5.750% 03/01/20240.1%
Dow Chemical Co.9.400% 05/15/20390.1%
Monitronics International, Inc.9.125% 04/01/20200.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
BAT Capital Corp3.557% 08/15/20270.1%
Enbridge Energy Partners L.P.6.135% 10/01/20370.1%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.1%
Alexandria Real Estate Equities, Inc.3.950% 01/15/20280.1%
CIT Group, Inc.6.000% 04/01/20360.1%
Westlake Automobile Receivables Trust 2017-21.800% 07/15/20200.1%
Brink's Co/The4.625% 10/15/20270.1%
Prime Security Services Borrower LLC / Prime Finan9.250% 05/15/20230.1%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.1%
Government National Mortgage Association2.700% 07/16/20570.1%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.1%
CNO Financial Group, Inc.5.250% 05/30/20250.1%
BJ's Wholesale Club, Inc.5.597% 02/03/20240.1%
First Investors Auto Owner Trust2.410% 12/15/20220.1%
IRB Holding Corp6.750% 02/15/20260.1%
Freeport-McMoRan, Inc.3.875% 03/15/20230.1%
Frontier Communications Corp.11.000% 09/15/20250.1%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.1%
Appalachian Power Co.7.000% 04/01/20380.1%
TNT Crane and Rigging6.834% 11/27/20200.1%
Peak 10 Holding Corp9.608% 08/01/20250.1%
Santander Drive Auto Receivables Trust2.650% 08/17/20200.1%
Hunt Cos Inc6.250% 02/15/20260.1%
SPX FLOW, Inc.5.625% 08/15/20240.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
Edison International4.125% 03/15/20280.1%
BlueLine Rental Finance Corp. / BlueLine Rental LL9.250% 03/15/20240.1%
Government National Mortgage Association2.650% 11/16/20500.1%
Chemours Co.7.000% 05/15/20250.1%
Citigroup, Inc.4.450% 09/29/20270.1%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The2.922% 01/15/20330.1%
Carnival plc7.875% 06/01/20270.1%
Vodafone Group plc5.250% 05/30/20480.1%
Equinix, Inc.5.875% 01/15/20260.1%
Navient Corp.6.625% 07/26/20210.1%
Government National Mortgage Association2.750% 02/16/20580.1%
WPX Energy, Inc.5.250% 09/15/20240.1%
Quality Distribution, Inc.10.834% 08/18/20230.1%
Drive Auto Receivables Trust2.610% 08/16/20210.1%
Jacobs Entertainment, Inc.7.875% 02/01/20240.1%
New York and Presbyterian Hospital/The4.063% 08/01/20560.1%
Norbord, Inc.6.250% 04/15/20230.1%
Men's Wearhouse, Inc.7.000% 07/01/20220.1%
Netflix, Inc.4.375% 11/15/20260.1%
Drive Auto Receivables Trust4.160% 05/15/20240.1%
Citgo Holding, Inc.10.750% 02/15/20200.1%
Valeant Pharmaceuticals International, Inc.5.625% 12/01/20210.1%
Goldman Sachs Group, Inc.4.223% 05/01/20290.1%
American Axle & Manufacturing, Inc.6.250% 04/01/20250.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
Peabody Energy Corp.6.375% 03/31/20250.1%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.1%
SunTrust Auto Receivables Trust1.780% 01/15/20210.1%
OM Asset Management plc4.800% 07/27/20260.1%
Community Health Systems, Inc.6.250% 03/31/20230.1%
Expedia, Inc.5.000% 02/15/20260.1%
Government National Mortgage Association2.600% 07/16/20580.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.950% 07/05/20230.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.549% 07/05/20230.1%
Mercedes-Benz Auto Receivables Trust 2016-11.260% 02/16/20210.1%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.1%
J.P. Morgan Chase Commercial Mortgage Securities T3.040% 07/05/20330.1%
Drive Auto Receivables Trust3.340% 09/15/20220.1%
CarMax Auto Owner Trust 2014-32.290% 06/15/20200.1%
CCUBS Commercial Mortgage Trust 2017-C13.907% 11/15/20500.1%
AmeriCredit Automobile Receivables Trust 2015-32.080% 09/08/20200.1%
Flagship Credit Auto Trust 2017-32.590% 07/15/20220.1%
Engs Commercial Finance Trust2.310% 10/22/20210.1%
EPR Properties4.750% 12/15/20260.1%
First Investors Auto Owner Trust2.720% 04/17/20230.1%
AK Steel Corp.7.000% 03/15/20270.1%
Vulcan Materials Co.4.700% 03/01/20480.1%
JPMBB Commercial Mortgage Securities Trust4.298% 07/15/20480.1%
Lincoln National Corp.6.300% 10/09/20370.1%
Energy Transfer Partners LP7.500% 07/01/20380.1%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.1%
COMM Mortgage Trust4.440% 07/10/20500.1%
Kaiser Foundation Hospitals4.150% 05/01/20470.1%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.1%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.1%
American International Group, Inc.4.800% 07/10/20450.1%
California Republic Auto Receivables Trust2.660% 08/17/20200.1%
Reynolds American, Inc.5.700% 08/15/20350.1%
Morgan Stanley3.875% 01/27/20260.1%
GM Financial Automobile Leasing Trust 2016-31.610% 12/20/20190.1%
E*TRADE Financial Corp.3.800% 08/24/20270.1%
National Oilwell Varco, Inc.3.950% 12/01/20420.1%
Flagship Credit Auto Trust 2017-31.880% 10/15/20210.1%
Dell International LLC / EMC Corp.5.450% 06/15/20230.1%
Bayer Corp6.650% 02/15/20280.1%
Cleco Power LLC6.000% 12/01/20400.1%
Bank of America Corp.4.450% 03/03/20260.1%
U.S. Treasury Note/Bond3.125% 11/15/20410.1%
Amcor Finance USA Inc4.500% 05/15/20280.1%
Viking Cruises Ltd.5.875% 09/15/20270.1%
Six Flags Entertainment Corp.5.500% 04/15/20270.1%
California Republic Auto Receivables Trust 2016-22.520% 05/16/20220.1%
International Paper Co.7.300% 11/15/20390.1%
Dell International LLC / EMC Corp7.125% 06/15/20240.1%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.1%
Berry Petroleum Co.7.000% 02/15/20260.1%
California Republic Auto Receivables Trust 2016-21.560% 07/15/20200.1%
Teva Pharmaceutical Finance Netherlands III BV2.200% 07/21/20210.1%
Kinross Gold Corp.5.950% 03/15/20240.1%
U.S. Treasury Note/Bond4.375% 05/15/20410.1%
Berkshire Hathaway Energy Co.3.800% 07/15/20480.1%
South Carolina Electric & Gas Co.6.625% 02/01/20320.1%
U.S. Treasury Note/Bond2.500% 02/15/20460.1%
AmeriCredit Automobile Receivables Trust 2017-31.690% 12/18/20200.1%
Canadian Pacific Railway Co.4.000% 06/01/20280.1%
SM Energy Co.6.500% 01/01/20230.1%
Santander Drive Auto Receivables Trust 2016-31.890% 06/15/20210.1%
Bank of America Corp.4.000% 01/22/20250.1%
Goodman US Finance Four LLC4.500% 10/15/20370.1%
AmeriCredit Automobile Receivables Trust 2017-32.240% 06/19/20230.1%
Ascentium Equipment Receivables 2017-1 Trust1.870% 07/10/20190.1%
Central Garden & Pet Co.5.125% 02/01/20280.1%
PPL Corp.5.200% 07/15/20410.1%
Halcon Resources Corp.6.750% 02/15/20250.1%
Toronto-Dominion Bank3.625% 09/15/20310.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
Unum Group5.750% 08/15/20420.0%
Precision Drilling Corp.7.750% 12/15/20230.0%
California Republic Auto Receivables Trust 2016-11.890% 05/15/20200.0%
Republic of Argentina4.625% 01/11/20230.0%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
American Credit Acceptance Receivables Trust 2016-6.090% 05/12/20220.0%
Dell International LLC / EMC Corp3.480% 06/01/20190.0%
Ascension Health3.945% 11/15/20460.0%
Ally Auto Receivables Trust 2017-51.810% 06/15/20200.0%
GM Financial Automobile Leasing Trust 2017-21.720% 01/21/20200.0%
Flagship Credit Auto Trust2.380% 10/15/20200.0%
Drive Auto Receivables Trust2.510% 01/15/20210.0%
Forterra, Inc.5.077% 10/25/20230.0%
Pennsylvania5.350% 05/01/20300.0%
Pharmaceutical Product Development LLC6.375% 08/01/20230.0%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.0%
Valvoline, Inc.5.500% 07/15/20240.0%
Santander Drive Auto Receivables Trust 2017-32.760% 12/15/20220.0%
International Lease Finance Corp.5.875% 08/15/20220.0%
Grinding Media, Inc. / MC Grinding Media Canada, I7.375% 12/15/20230.0%
Acadia Healthcare Co., Inc.6.500% 03/01/20240.0%
Koppers, Inc.6.000% 02/15/20250.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
Honda Auto Receivables 2016-2 Owner Trust1.390% 04/15/20200.0%
Ascentium Equipment Receivables 2017-1 Trust2.290% 06/10/20210.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
Cox Communications, Inc.4.500% 06/30/20430.0%
American Credit Acceptance Receivables Trust 2017-1.820% 03/10/20200.0%
Valeant Pharmaceuticals International, Inc.7.500% 07/15/20210.0%
Drive Auto Receivables Trust2.200% 05/15/20200.0%
Santander Drive Auto Receivables Trust 2017-21.600% 03/16/20200.0%
MPH Acquisition Holdings LLC7.125% 06/01/20240.0%
HudBay Minerals, Inc.7.250% 01/15/20230.0%
NYU Hospitals Center4.368% 07/01/20470.0%
Mercedes-Benz Auto Receivables Trust1.340% 12/16/20190.0%
Drive Auto Receivables Trust2.370% 11/16/20200.0%
First Investors Auto Owner Trust 2016-21.530% 11/16/20200.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
Ford Credit Auto Owner Trust1.040% 09/15/20190.0%
Santander Drive Auto Receivables Trust2.600% 11/16/20200.0%
Americredit Automobile Receivables Trust 2016-41.340% 04/08/20200.0%
Drive Auto Receivables Trust 2017-21.820% 06/15/20200.0%
CarMax Auto Owner Trust1.210% 11/15/20190.0%
Ascentium Equipment Receivables 2016-2 Trust1.460% 04/10/20190.0%
BakerCorp5.359% 02/07/20200.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
US 2YR NOTE (CBT) SEP180.000% 10/03/20180.0%
US 10YR ULTRA FUT SEP180.000% 09/28/20180.0%
US LONG BOND(CBT) SEP180.000% 09/28/20180.0%
US 10YR NOTE (CBT)SEP180.000% 09/28/20180.0%
US 5YR NOTE (CBT) SEP180.000% 10/03/20180.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Credit Index Swap1.000% 06/20/20230.0%
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% 09/17/2058-0.1%
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 09/18/2018
$0.388
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 08/31/2018 $0.04998 $14.67
Daily Daily 07/31/2018 $0.05115 $14.66
Daily Daily 06/30/2018 $0.05045 $14.65
Daily Daily 05/31/2018 $0.05031 $14.71
Daily Daily 04/30/2018 $0.05053 $14.72
Daily Daily 03/31/2018 $0.04864 $14.84
Daily Daily 02/28/2018 $0.04398 $14.86
Daily Daily 01/31/2018 $0.04341 $15.03

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 09/30/2018
Daily Daily 10/31/2018
Daily Daily 11/30/2018
Daily Daily 12/31/2018

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2018

Fund Gross Expense Ratio Fund Net Expense Ratio
2.31% 0.46%

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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There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

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 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 I - SEC Returns reflect performance for Class I shares at Net Asset Value.

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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