LAPTX | Core Plus Bond Fund Class R2 | 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.

 

Fund Basicsas of 09/30/2021

Total Net Assets
$351.30 M
Inception Date
Dividend Frequency
-
Number of Holdings
536
Type Assets
U.S. Government Related
Investment Grade Corporate
High Yield Corporate
ABS
CMBS
CLO
MBS
Bank Loans
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 09/30/2021 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-Head of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

Leah G. Traub
Leah G. Traub, Ph.D.

Partner & Portfolio Manager

19 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

20 Years of Industry Experience

Supported By 61 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Portfolio

Portfolio

Rating Assets
U.S. Government Related
Investment Grade Corporate
High Yield Corporate
ABS
CMBS
CLO
MBS
Bank Loans
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 09/30/2021

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

Portfolio Positioningas of 6/30/2021

  • Over the quarter, we added risk exposure to the portfolio’s bank loan and collateralized loan obligation (CLO) allocations. A reflationary environment, rising rates, and strong flows into each asset class all are strong tailwinds for bank loans and CLOs. Specifically, we found attractive relative value in investment grade bank loans versus investment grade corporate bonds and found attractive risk-adjusted carry in high quality CLOs.
  • We also added to the portfolio’s CMBS allocation. We continue to favor CMBS as a reopening-centric asset class and are finding attractive relative value in BBB-rated single-asset/single-borrower issues versus like-rated corporate bonds.
  • We decreased the portfolio’s risk exposure to both high yield and investment grade corporate bonds as we believe valuations on specific issues are full. Specifically, we sold risk exposure within the portfolio’s energy bond allocation.

Portfolio Details as of 09/30/2021

Total Net Assets
$351.30 M
Number of Issues
536
Average Coupon
2.95%
Average Life
7.28 Years
Average Maturity
7.25 Years
Average Effective Duration
5.82 Years
Average Modified Duration
6.02 Years

Dividends & Cap Gains

Dividends & Cap Gains

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
10/01/2021 10/31/2021 10/31/2021
11/01/2021 11/30/2021 11/30/2021
12/01/2020 12/31/2021 12/31/2021

Yield

Yield

Fees & Expenses

Fees & Expenses

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
n/a
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
n/a
Statutory Prospectus
Publish Date:11/03/2015
n/a
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 R2 - The performance quotations for Class R2 reflect the following methods of calculation: (a) for periods prior to the inception date for Class R2, a restated figure is used based on the Fund's Class A performance, excluding the effect of Class A's maximum sales charge (which does not apply to Class R2) adjusted to reflect the Rule 12b-1 rate differential between Class A and Class R2, which has a higher 12b-1 fee than Class A; and (b) for periods after the inception date for Class R2, actual Class R2 performance is used reflecting all charges and fees applicable to Class R2 shares. Hypothetical performance data for Class R2, as measured from since inception of the Fund using the methodology described above, is not available if the Class A inception date is equal or greater than ten years old. Please refer to the Class R2 performance information for the inception date for Class R2. Please refer to the Class A performance information for the inception date for Class A.

Class R2 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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