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Core Plus Bond Fund

Daily price w/o sales charge as of 05/24/2019

$14.97

$0.00

YTD Returns w/o sales charge as of 05/24/2019

4.90%

Overall Morningstar Ratings

Intermediate Core-Plus Bond
as of 04/30/2019

Morningstar rated the Lord Abbett Core Plus Bond Fund class R2 share 4 stars among 555 Intermediate Core-Plus Bond Funds for the overall rating and the 3 year periods ended 4/30/2019, respectively.

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 05/24/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.08% 1.37%

30-Day Standardized Yield 2 as of 04/30/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.56% 2.12%

Fund Basicsas of 04/30/2019

Total Net Assets
$46.23 M
Inception Date
12/08/2015
Dividend Frequency
Monthly
Fund Gross Expense Ratio
2.79%
Fund Net Expense Ratio
1.08%
Number of Holdings
485

Fund Expense Ratio :

Gross 2.79%

Net 1.08%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 4.34% 4.91% 2.85% - - 3.45%
Lipper Category Avg. Core Plus Bond Funds 3.80% 4.98% 2.70% - - -
Bloomberg Barclays U.S. Universal Index 3.47% 5.38% 2.46% - - 3.19%

Fund Expense Ratio :

Gross 2.79%

Net 1.08%

Fund Expense Ratio :

Gross 2.79%

Net 1.08%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 3.86% 3.89% 3.17% - - 3.39%
Lipper Category Avg. Core Plus Bond Funds 3.53% 4.02% 2.92% - - -
Bloomberg Barclays U.S. Universal Index 3.32% 4.53% 2.65% - - 3.22%

Fund Expense Ratio :

Gross 2.79%

Net 1.08%

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

Type Assets
Investment Grade Corporate
MBS
ABS
U.S. Government Related
CMBS
High Yield Corporate
Sovereign
Bank Loans
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 04/30/2019 View Portfolio

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

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 67 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 05/24/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.08% 1.37%

30-Day Standardized Yield 2 as of 04/30/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.56% 2.12%

Fund Expense Ratio :

Gross 2.79%

Net 1.08%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 4.34% 4.91% 2.85% - - 3.45%
Lipper Category Avg. Core Plus Bond Funds 3.80% 4.98% 2.70% - - -
Bloomberg Barclays U.S. Universal Index 3.47% 5.38% 2.46% - - 3.19%

Fund Expense Ratio :

Gross 2.79%

Net 1.08%

Fund Expense Ratio :

Gross 2.79%

Net 1.08%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 3.86% 3.89% 3.17% - - 3.39%
Lipper Category Avg. Core Plus Bond Funds 3.53% 4.02% 2.92% - - -
Bloomberg Barclays U.S. Universal Index 3.32% 4.53% 2.65% - - 3.22%

Fund Expense Ratio :

Gross 2.79%

Net 1.08%

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

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
MBS
ABS
U.S. Government Related
CMBS
High Yield Corporate
Sovereign
Bank Loans
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 04/30/2019

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

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 3/31/2019

  • 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 decreased the portfolio’s allocation to high yield corporate bonds as risk assets recovered from a volatile fourth quarter of 2018 and spreads tightened.
  • We increased the portfolio’s exposure to U.S. Treasuries and investment grade corporate bonds during the quarter, with an overweight to the banking sector.
  • We decreased the portfolio’s exposure to structured products including asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), and mortgage-backed securities (MBS). Within high quality ABS we favored longer duration securities as they have provided a notable risk-adjusted spread pick-up. Within CMBS we decreased the portfolio’s exposure due to spread tightening, but continue to favor single-asset/ single-borrower securities across the credit spectrum.  The portfolio’s allocation to MBS was moved into “Uniform MBS” (UMBS) given Fannie Mae and Freddie Mac’s joint initiative, which seeks to simplify investment by standardizing MBS issues currently offered by each entity. We continue to hold an overweight to higher-coupon MBS.

Portfolio Details as of 04/30/2019

Total Net Assets
$46.23 M
Number of Issues
485
Average Coupon
4.09%
Average Life
7.00 Years
Average Maturity
7.00 Years
Average Effective Duration
5.69 Years
Average Modified Duration
6.13 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 13.5%
FNMA Conventional Long T. 30yr 3.500% 01/31/2048 8.3%
United States Treasury Bill 0.000% 05/30/2019 4.9%
U.S. Treasury Note 0.625% 04/15/2023 4.3%
U.S. Treasury Note/Bond 3.375% 11/15/2048 1.5%
Westpac Banking Corp. 3.150% 01/16/2024 1.3%
U.S. Treasury Note/Bond 2.500% 01/31/2021 1.0%
UBS AG Registered Shares 5.125% 05/15/2024 1.0%
U.S. Treasury Note/Bond 2.625% 02/15/2029 0.8%
U.S. Treasury Note/Bond 2.250% 04/30/2024 0.7%
% of Total Assets 37.3%

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% 07/31/204814.1%
FNMA Conventional Long T. 30yr4.000% 05/31/20489.5%
United States Treasury Bill0.000% 05/30/20196.6%
U.S. Treasury Note0.625% 04/15/20234.2%
U.S. Treasury Note/Bond2.500% 01/31/20211.5%
U.S. Treasury Note/Bond2.125% 03/31/20241.1%
Westpac Banking Corp.3.150% 01/16/20241.1%
U.S. Treasury Note/Bond3.375% 11/15/20480.8%
Cent CLO Ltd.4.082% 10/29/20250.7%
U.S. Treasury Note/Bond2.625% 02/15/20290.7%
Citigroup, Inc.3.887% 01/10/20280.7%
Benefit Street Partners CLO X Ltd4.277% 01/15/20290.7%
Avery Point VII CLO Ltd4.287% 01/15/20280.7%
Sound Point Clo XII Ltd4.347% 10/20/20280.7%
Bank of America Corp.3.593% 07/21/20280.7%
OHA Loan Funding 2016-1 Ltd4.561% 01/20/20280.7%
Greywolf CLO Ltd0.000% 04/17/20300.7%
JPMorgan Chase & Co.3.782% 02/01/20280.6%
Navient Student Loan Trust 2016-73.636% 03/25/20660.6%
General Motors Co.6.600% 04/01/20360.6%
UBS AG Registered Shares5.125% 05/15/20240.6%
General Electric Co.6.150% 08/07/20370.6%
Anglo American Capital plc4.750% 04/10/20270.6%
Alibaba Group Holding Ltd.3.600% 11/28/20240.6%
Egypt Government International Bond6.125% 01/31/20220.6%
CNAC HK Finbridge Co Ltd3.500% 07/19/20220.5%
Turkiye Garanti Bankasi AS6.250% 04/20/20210.5%
Wells Fargo Commercial Mortgage Trust 2017-HSDB3.349% 12/13/20310.5%
Discover Card Execution Note Trust2.120% 12/15/20210.5%
Eskom Holdings SOC Ltd.5.750% 01/26/20210.5%
Saudi Government International Bond3.625% 03/04/20280.5%
BB-UBS Trust3.430% 11/05/20360.5%
Discover Financial Services4.100% 02/09/20270.5%
LMREC 2019-CRE3 Inc3.914% 12/22/20350.5%
BAMLL Trust4.420% 07/11/20330.5%
Wells Fargo Commercial Mortgage Trust 2014-LC163.817% 08/15/20500.5%
Kerr-McGee Corp.7.875% 09/15/20310.4%
Flagship Credit Auto Trust 2017-42.920% 11/15/20230.4%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.4%
AerCap Ireland Capital Ltd.4.875% 01/16/20240.4%
GS Mortgage Securities Trust3.557% 04/10/20310.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
FNMA Conventional Long T. 30yr3.500% 01/31/20480.4%
Anheuser-Busch InBev Worldwide, Inc.4.750% 01/23/20290.4%
A10 Bridge Asset Financing LLC3.300% 05/15/20360.4%
Navient Student Loan Trust 2017-23.536% 12/27/20660.4%
PSEG Power LLC8.625% 04/15/20310.4%
Wells Fargo Capital X5.950% 12/15/20360.4%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.4%
Exeter Automobile Receivables Trust 2017-33.680% 07/17/20230.4%
Drive Auto Receivables Trust 2017-32.800% 07/15/20220.3%
Valeant Pharmaceuticals International, Inc.9.250% 04/01/20260.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
Wabtec Corp.4.700% 09/15/20280.3%
VEREIT Operating Partnership L.P.3.950% 08/15/20270.3%
Pentair Finance SA3.150% 09/15/20220.3%
Nvent Finance Sarl4.550% 04/15/20280.3%
InterXion Holding NV4.750% 06/15/20250.3%
AT&T, Inc.6.000% 08/15/20400.3%
Glencore Finance Canada Ltd.5.550% 10/25/20420.3%
Goldman Sachs Group, Inc.4.223% 05/01/20290.3%
Time Warner Cable LLC7.300% 07/01/20380.3%
Fairstone Financial Issuance Trust I6.299% 03/21/20330.3%
Great American Auto Leasing Inc 2019-13.210% 02/18/20250.3%
Dominion Resources, Inc.7.000% 06/15/20380.3%
Fidelity National Financial Group4.500% 08/15/20280.3%
United Rentals, Inc.4.875% 01/15/20280.3%
SURA Asset Management SA4.875% 04/17/20240.3%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.3%
First National Master Note Trust 2018-12.944% 10/15/20240.3%
J.P. Morgan Chase Commercial Mortgage Securities T3.392% 06/05/20320.3%
Foursight Capital Automobile Receivables Trust 2015.560% 01/16/20240.3%
Caesars Palace Las Vegas Trust 2017-VICI4.138% 10/15/20340.3%
American Express Credit Account Master Trust1.640% 12/15/20210.3%
Trimble Navigation Ltd.4.900% 06/15/20280.3%
Honda Auto Receivables 2019-1 Owner Trust2.750% 09/20/20210.3%
NextGear Floorplan Master Owner Trust4.010% 10/15/20230.3%
Genesis Sales Finance Master Trust Series 2019-A5.420% 08/20/20230.3%
Citigroup Commercial Mortgage Trust3.251% 05/10/20350.3%
West Town Mall Trust 2017-KNOX3.823% 07/05/20300.3%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.3%
ACC Trust 2019-14.470% 10/20/20220.3%
CSMC Trust3.811% 11/15/20340.3%
American Express Credit Account Master Trust3.070% 10/15/20240.3%
CPS Auto Receivables Trust 2017-C3.790% 06/15/20230.3%
Ford Motor Co.7.450% 07/16/20310.3%
JP Morgan Chase Commercial Mortgage Securities Tru3.621% 09/05/20320.3%
ACC Trust 2018-14.820% 05/20/20210.3%
BDS 2019-FL3 LTD3.884% 12/15/20350.3%
DBWF 2018-GLKS Mortgage Trust3.512% 11/19/20350.3%
American Credit Acceptance Receivables Trust 2016-6.090% 05/12/20220.3%
GS Mortgage Securities Corp Trust 2018-RIVR3.434% 07/15/20350.3%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.3%
Commercial Mortgage Pass Through Certificates3.400% 10/05/20300.3%
Atrium Hotel Portfolio Trust 2018-ATRM3.434% 06/15/20350.3%
PFS Financing Corp.2.890% 02/15/20230.3%
BAMLL Commercial Mortgage Securities Trust 2019-AH4.100% 03/15/20340.3%
GMF Floorplan Owner Revolving Trust1.960% 05/17/20210.3%
Barclays Dryrock Issuance Trust2.410% 07/15/20220.3%
Ford Credit Auto Owner Trust 2014-REV22.310% 04/15/20260.3%
CPS Auto Receivables Trust 2018-A2.770% 04/18/20220.3%
Synchrony Credit Card Master Note Trust2.640% 03/15/20230.3%
AREIT 2018-CRE2 Trust3.464% 11/14/20350.3%
Chase Issuance Trust1.270% 07/15/20210.3%
Synchrony Credit Card Master Note Trust1.580% 09/15/20220.3%
SLM Student Loan Trust 2007-32.831% 01/25/20220.3%
Engs Commercial Finance Trust 2018-12.970% 02/22/20210.3%
Brink's Co/The4.625% 10/15/20270.3%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.3%
Drive Auto Receivables Trust 2017-13.840% 03/15/20230.3%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.3%
Apache Corp.5.100% 09/01/20400.3%
Hilton Grand Vacations Trust 2018-A3.540% 02/25/20320.3%
TransDigm, Inc.6.375% 06/15/20260.2%
Valero Energy Corp.10.500% 03/15/20390.2%
Enterprise Fleet Financing LLC2.870% 10/20/20230.2%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.2%
Sprint Capital Corp.6.875% 11/15/20280.2%
COMM Mortgage Trust4.440% 07/10/20500.2%
AMC Networks, Inc.4.750% 08/01/20250.2%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.2%
Petroleos Mexicanos4.500% 01/23/20260.2%
Eni USA Inc7.300% 11/15/20270.2%
Wyndham Worldwide Corp.5.750% 04/01/20270.2%
CNO Financial Group, Inc.5.250% 05/30/20250.2%
Verizon Communications, Inc.3.716% 05/15/20250.2%
Toronto-Dominion Bank3.625% 09/15/20310.2%
Dell International LLC / EMC Corp.8.350% 07/15/20460.2%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.2%
Morgan Stanley3.875% 01/27/20260.2%
Netflix, Inc.4.375% 11/15/20260.2%
Warner Media LLC6.250% 03/29/20410.2%
Exelon Generation Co. LLC6.250% 10/01/20390.2%
EPR Properties4.500% 06/01/20270.2%
Gray Television, Inc.7.000% 05/15/20270.2%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.2%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.2%
Netflix, Inc.6.375% 05/15/20290.2%
GM Financial Automobile Leasing Trust 2017-32.010% 11/20/20200.2%
Stonemont Portfolio Trust 2017-STONE6.088% 08/20/20300.2%
EPR Properties4.950% 04/15/20280.2%
Stonemont Portfolio Trust 2017-STONE5.238% 08/20/20300.2%
Protective Life Corp.8.450% 10/15/20390.2%
Freeport-McMoRan, Inc.3.875% 03/15/20230.2%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.2%
Drive Auto Receivables Trust3.660% 11/15/20240.2%
Navient Corp.6.750% 06/25/20250.2%
Capital One Multi-Asset Execution Trust2.994% 09/16/20240.2%
SPX FLOW, Inc.5.625% 08/15/20240.2%
American Express Credit Account Master Trust2.934% 09/16/20240.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Wells Fargo Commercial Mortgage Trust4.287% 07/15/20460.2%
Tesla Motors, Inc.5.300% 08/15/20250.2%
General Electric Co.3.100% 01/09/20230.2%
RETL 2019-RVP4.584% 03/15/20360.2%
Transocean Proteus Ltd.6.250% 12/01/20240.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
Calpine Corp.5.750% 01/15/20250.2%
BX Commercial Mortgage Trust 2018-BIOA3.155% 03/15/20370.2%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.2%
BAT Capital Corp4.390% 08/15/20370.2%
MPT Operating Partnership L.P.5.000% 10/15/20270.2%
Ahern Rentals, Inc.7.375% 05/15/20230.2%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.2%
E*TRADE Financial Corp.3.800% 08/24/20270.2%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.2%
BBCMS 2018-TALL Mortgage Trust4.921% 03/15/20370.2%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.2%
Reynolds American, Inc.5.700% 08/15/20350.2%
Neuberger Berman Group LLC4.875% 04/15/20450.2%
SM Energy Co.6.625% 01/15/20270.2%
Time Warner Cable LLC6.550% 05/01/20370.2%
Citigroup, Inc.3.980% 03/20/20300.2%
Chesapeake Funding II LLC1.910% 08/15/20290.2%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.2%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.2%
Halliburton Co.6.700% 09/15/20380.2%
Morgan Stanley3.625% 01/20/20270.2%
CIT Group, Inc.6.125% 03/09/20280.2%
Walt Disney Co/The7.750% 12/01/20450.2%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.2%
International Lease Finance Corp.5.875% 08/15/20220.2%
Chesapeake Funding II LLC1.990% 05/15/20290.2%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.2%
DaVita, Inc.5.000% 05/01/20250.2%
CEC Entertainment, Inc.8.000% 02/15/20220.2%
Macquarie Group Ltd.4.654% 03/27/20290.2%
Tenet Healthcare Corp.6.250% 02/01/20270.2%
Energy Transfer Operating LP6.125% 12/15/20450.2%
Hilton Orlando Trust 2018-ORL4.184% 12/15/20340.1%
Continental Resources, Inc.4.900% 06/01/20440.1%
1345 Avenue of the Americas & Park Avenue Plaza Tr5.278% 08/10/20350.1%
BX Trust 2018-GW3.284% 05/15/20350.1%
DISH DBS Corp.7.750% 07/01/20260.1%
Wells Fargo Commercial Mortgage Trust4.128% 05/15/20480.1%
JP Morgan Chase Commercial Mortgage Securities Tru4.584% 06/15/20320.1%
Shelter Growth CRE 2018-FL1 Issuer Ltd3.484% 01/15/20350.1%
Verizon Communications, Inc.4.862% 08/21/20460.1%
Chesapeake Funding II LLC1.880% 06/15/20280.1%
Mercedes-Benz Auto Lease Trust 2018-B3.040% 12/15/20200.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.1%
Sabine Pass Liquefaction LLC5.625% 03/01/20250.1%
WFRBS Commercial Mortgage Trust4.893% 08/15/20450.1%
COMM Mortgage Trust4.440% 07/10/20500.1%
COMM Mortgage Trust4.349% 12/10/20470.1%
WFRBS Commercial Mortgage Trust4.343% 03/15/20480.1%
Natixis Commercial Mortgage Securities Trust 2018-3.790% 11/15/20320.1%
JP Morgan Chase Commercial Mortgage Securities Tru5.484% 06/15/20350.1%
DLL 2018-2 LLC3.140% 10/20/20200.1%
Natixis Commercial Mortgage Securities Trust 2018-3.790% 11/15/20320.1%
IRB Holding Corp6.750% 02/15/20260.1%
Foursight Capital Automobile Receivables Trust 2012.850% 08/16/20210.1%
Drive Auto Receivables Trust5.150% 08/15/20220.1%
GS Mortgage Securities Trust4.523% 11/10/20470.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.1%
Diamond Resorts Owner Trust4.110% 10/22/20290.1%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.1%
Universal Health Services, Inc.4.750% 08/01/20220.1%
CarMax Auto Owner Trust2.880% 10/15/20210.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Capital Auto Receivables Asset Trust3.340% 03/22/20210.1%
Santander Drive Auto Receivables Trust 2015-23.020% 04/15/20210.1%
Hilton Orlando Trust 2018-ORL3.254% 12/15/20340.1%
Rockies Express Pipeline LLC6.875% 04/15/20400.1%
Dell International LLC / EMC Corp7.125% 06/15/20240.1%
Embraer Netherlands Finance BV5.050% 06/15/20250.1%
Oglethorpe Power Corp.5.050% 10/01/20480.1%
Apache Corp.4.750% 04/15/20430.1%
The Royal Bank of Scotland Group PLC6.125% 12/15/20220.1%
CCO Holdings LLC / CCO Holdings Capital Corp.5.000% 02/01/20280.1%
California Republic Auto Receivables Trust2.530% 06/15/20210.1%
Morgan Stanley4.000% 07/23/20250.1%
Hyundai Auto Lease Securitization Trust 2017-C1.890% 03/16/20200.1%
Surgery Center Holdings, Inc.6.750% 07/01/20250.1%
PHEAA Student Loan Trust I3.041% 04/25/20380.1%
ACC Trust 2018-13.700% 12/21/20200.1%
Ally Financial, Inc.8.000% 11/01/20310.1%
Summit Materials LLC5.125% 06/01/20250.1%
Citigroup, Inc.4.450% 09/29/20270.1%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.1%
JP Morgan Chase Commercial Mortgage Securities Tru3.484% 06/15/20320.1%
Santander UK plc7.950% 10/26/20290.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
JP Morgan Chase Commercial Mortgage Securities Tru4.084% 06/15/20320.1%
Discover Card Execution Note Trust3.040% 07/15/20240.1%
Government National Mortgage Association2.700% 08/16/20580.1%
SG Commercial Mortgage Securities Trust 2019-787E0.305% 02/15/20410.1%
Caesars Palace Las Vegas Trust 2017-VICI3.531% 10/15/20340.1%
Interstate Power & Light Co3.600% 04/01/20290.1%
Drive Auto Receivables Trust3.040% 11/15/20210.1%
MEG Energy Corp.6.375% 01/30/20230.1%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.1%
YPF S.A.8.500% 03/23/20210.1%
California Resources Corp.8.000% 12/15/20220.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Vale Overseas Ltd.6.250% 08/10/20260.1%
Fibria Overseas Finance Ltd.4.000% 01/14/20250.1%
ReadyCap Commercial Mortgage Trust 2018-43.390% 02/27/20510.1%
PGT Escrow Issuer Inc6.750% 08/01/20260.1%
Government National Mortgage Association2.700% 04/16/20570.1%
Total System Services, Inc.4.800% 04/01/20260.1%
Charter Communications Operating LLC6.484% 10/23/20450.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.1%
Motel 6 Trust 2017-MTL65.734% 08/15/20340.1%
American Credit Acceptance Receivables Trust 2018-3.380% 12/13/20210.1%
JP Morgan Chase Commercial Mortgage Securities Cor4.613% 07/05/20310.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
Chesapeake Funding II LLC2.110% 03/15/20280.1%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Penn National Gaming, Inc.5.625% 01/15/20270.1%
Government National Mortgage Association2.600% 06/16/20570.1%
Diamond Resorts Owner Trust2.990% 05/22/20280.1%
General Electric Co.5.000% 12/31/20990.1%
Drive Auto Receivables Trust 2018-53.080% 07/15/20210.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
Warner Media LLC6.200% 03/15/20400.1%
TCF Auto Receivables Owner Trust3.530% 03/15/20220.1%
World Financial Network Credit Card Master Trust1.980% 06/15/20230.1%
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%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.1%
TRI Pointe Homes LLC5.250% 06/01/20270.1%
Dominion Gas Holdings LLC4.600% 12/15/20440.1%
Ashland, Inc.6.875% 05/15/20430.1%
MSCI, Inc.5.750% 08/15/20250.1%
Federal Home Loan Mortgage Corp.3.444% 12/25/20270.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.082% 07/05/20330.1%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.1%
Aquarion Co.4.000% 08/15/20240.1%
WFRBS Commercial Mortgage Trust3.488% 09/15/20570.1%
Community Health Systems, Inc.8.000% 11/15/20190.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.248% 07/05/20330.1%
Cleco Power LLC6.000% 12/01/20400.1%
GS Mortgage Securities Corp Trust 2018-FBLU5.234% 11/15/20350.1%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.1%
Rain CII Carbon LLC7.250% 04/01/20250.1%
Republic of El Salvador6.375% 01/18/20270.1%
Drive Auto Receivables Trust 2018-52.804% 07/15/20210.1%
Drive Auto Receivables Trust3.010% 11/15/20210.1%
William Lyon Homes, Inc.5.875% 01/31/20250.1%
U.S. Treasury Note/Bond2.500% 01/31/20240.1%
Kennametal, Inc.4.625% 06/15/20280.1%
Canadian Natural Resources Ltd.3.850% 06/01/20270.1%
National Oilwell Varco, Inc.3.950% 12/01/20420.1%
Drive Auto Receivables Trust3.720% 09/16/20240.1%
Orec 2018-CRE1 Ltd3.664% 06/15/20360.1%
BWAY Holding Co.7.250% 04/15/20250.1%
GS Mortgage Securities Corp Trust 2018-FBLU3.432% 11/15/20350.1%
Kraft Heinz Foods Co.6.875% 01/26/20390.1%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.1%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.1%
Norbord, Inc.6.250% 04/15/20230.1%
BMW Vehicle Owner Trust 2018-A2.090% 11/25/20200.1%
South Carolina Electric & Gas Co.6.050% 01/15/20380.1%
Helmerich & Payne, Inc.4.650% 03/15/20250.1%
Warner Media LLC6.100% 07/15/20400.1%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.1%
Solera Finance, Inc.10.500% 03/01/20240.1%
Campbell Soup Co.3.800% 08/02/20420.1%
HCA, Inc.5.500% 06/15/20470.1%
Neuberger Berman Group LLC4.500% 03/15/20270.1%
Goodman US Finance Three LLC3.700% 03/15/20280.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
Americredit Automobile Receivables Trust 2018-33.110% 01/18/20220.1%
Americredit Automobile Receivables Trust 2018-32.732% 01/18/20220.1%
Conn's, Inc.7.250% 07/15/20220.1%
Foursight Capital Automobile Receivables Trust 2012.870% 10/15/20210.1%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.1%
First Investors Auto Owner Trust 2018-23.230% 12/15/20220.1%
Colonial Pipeline Co.4.250% 04/15/20480.1%
Bank of America Corp.3.824% 01/20/20280.0%
Weight Watchers International, Inc.7.350% 11/29/20240.0%
Daimler Trucks Retail Trust 2018-12.600% 05/15/20200.0%
HCA, Inc.7.500% 11/06/20330.0%
Weight Watchers International, Inc.8.625% 12/01/20250.0%
Halliburton Co.7.450% 09/15/20390.0%
Goldman Sachs Group, Inc.6.750% 10/01/20370.0%
Macquarie Bank Ltd.6.625% 04/07/20210.0%
E*TRADE Financial Corp.4.500% 06/20/20280.0%
Valmont Industries, Inc.5.250% 10/01/20540.0%
Rayonier AM Products, Inc.5.500% 06/01/20240.0%
Fluor Corp.4.250% 09/15/20280.0%
Continental Resources, Inc.4.500% 04/15/20230.0%
Hillman Group, Inc.6.375% 07/15/20220.0%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.0%
Orange Lake Timeshare Trust 2015-A2.880% 09/08/20270.0%
Bombardier, Inc.7.500% 03/15/20250.0%
Acadia Healthcare Co., Inc.6.500% 03/01/20240.0%
BAT Capital Corp3.557% 08/15/20270.0%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.0%
WellCare Health Plans, Inc.5.250% 04/01/20250.0%
CIT Group, Inc.6.000% 04/01/20360.0%
Mercedes-Benz Auto Lease Trust 2018-A2.200% 04/15/20200.0%
SLIDE 2018-FUN4.334% 06/15/20310.0%
Sealed Air Corp.5.500% 09/15/20250.0%
Eldorado Resorts, Inc.6.000% 04/01/20250.0%
William Lyon Homes, Inc.6.000% 09/01/20230.0%
Bill Barrett Corp.7.000% 10/15/20220.0%
Popular, Inc.6.125% 09/14/20230.0%
Albertsons Cos LLC / Safeway, Inc. / New Albertson5.750% 03/15/20250.0%
General Electric Co.2.962% 05/05/20260.0%
Lennar Corp.4.750% 11/29/20270.0%
First Investors Auto Owner Trust2.410% 12/15/20220.0%
Government National Mortgage Association2.700% 07/16/20570.0%
Flagship Credit Auto Trust 2018-12.590% 06/15/20220.0%
Targa Resources Partners L.P.5.375% 02/01/20270.0%
Appalachian Power Co.7.000% 04/01/20380.0%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.0%
Intelsat Jackson Holdings SA8.500% 10/15/20240.0%
Government National Mortgage Association2.650% 11/16/20500.0%
TNT Crane and Rigging7.101% 11/27/20200.0%
Carnival plc7.875% 06/01/20270.0%
Sprint Corp.7.875% 09/15/20230.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Government National Mortgage Association2.750% 02/16/20580.0%
Quality Distribution, Inc.10.999% 08/18/20230.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.0%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The3.334% 01/15/20330.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Drive Auto Receivables Trust4.160% 05/15/20240.0%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.0%
OM Asset Management plc4.800% 07/27/20260.0%
Citgo Holding, Inc.10.750% 02/15/20200.0%
BCD Acquisition, Inc.9.625% 09/15/20230.0%
Expedia, Inc.5.000% 02/15/20260.0%
J.P. Morgan Chase Commercial Mortgage Securities T4.549% 07/05/20330.0%
J.P. Morgan Chase Commercial Mortgage Securities T4.950% 07/05/20330.0%
Government National Mortgage Association2.600% 07/16/20580.0%
EPR Properties4.750% 12/15/20260.0%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.0%
Delphi Automotive plc4.350% 03/15/20290.0%
COMM Mortgage Trust4.440% 07/10/20500.0%
JPMBB Commercial Mortgage Securities Trust4.277% 07/15/20480.0%
Peabody Energy Corp.6.375% 03/31/20250.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.834% 11/15/20350.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.504% 11/15/20350.0%
Drive Auto Receivables Trust3.340% 09/15/20220.0%
J.P. Morgan Chase Commercial Mortgage Securities T3.432% 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%
Warrior Met Coal Inc8.000% 11/01/20240.0%
California Republic Auto Receivables Trust 2017-11.900% 03/15/20210.0%
Drive Auto Receivables Trust3.020% 11/15/20210.0%
Vulcan Materials Co.4.700% 03/01/20480.0%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.0%
Dell International LLC / EMC Corp.5.450% 06/15/20230.0%
Bank of America Corp.4.450% 03/03/20260.0%
Drive Auto Receivables Trust2.780% 10/15/20200.0%
Bayer Corp6.650% 02/15/20280.0%
JP Morgan Chase Commercial Mortgage Securities Tru2.829% 10/15/20450.0%
Six Flags Entertainment Corp.5.500% 04/15/20270.0%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.0%
California Republic Auto Receivables Trust 2016-22.520% 05/16/20220.0%
Berkshire Hathaway Energy Co.3.800% 07/15/20480.0%
South Carolina Electric & Gas Co.6.625% 02/01/20320.0%
Kinross Gold Corp.5.950% 03/15/20240.0%
Bank of America Corp.4.000% 01/22/20250.0%
Chesapeake Energy Corp.7.500% 10/01/20260.0%
PPL Corp.5.200% 07/15/20410.0%
AmeriCredit Automobile Receivables Trust 2017-32.240% 06/19/20230.0%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
American Credit Acceptance Receivables Trust 2018-2.720% 03/10/20210.0%
Monitronics International, Inc.9.125% 04/01/20200.0%
Pennsylvania5.350% 05/01/20300.0%
Santander Drive Auto Receivables Trust 2017-32.760% 12/15/20220.0%
Flagship Credit Auto Trust 2017-31.880% 10/15/20210.0%
Mercedes-Benz Auto Receivables Trust 2016-11.260% 02/16/20210.0%
SunTrust Auto Receivables Trust1.780% 01/15/20210.0%
Drive Auto Receivables Trust2.610% 08/16/20210.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
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%
Drive Auto Receivables Trust3.910% 05/17/20210.0%
Drive Auto Receivables Trust2.750% 10/15/20200.0%
Westlake Automobile Receivables Trust 2017-21.800% 07/15/20200.0%
Santander Drive Auto Receivables Trust 2016-31.890% 06/15/20210.0%
AmeriCredit Automobile Receivables Trust 2017-31.690% 12/18/20200.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
Ally Auto Receivables Trust 2017-51.810% 06/15/20200.0%
FX USD/EUR 06/190.000% 06/07/20190.0%
Honda Auto Receivables 2016-2 Owner Trust1.390% 04/15/20200.0%
Santander Drive Auto Receivables Trust 2018-12.100% 11/16/20200.0%
GM Financial Automobile Leasing Trust 2017-21.720% 01/21/20200.0%
FX USD/CAD 06/190.000% 06/19/20190.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
US 2YR NOTE (CBT) JUN190.000% 07/03/20190.0%
US ULTRA BOND CBT JUN190.000% 06/28/20190.0%
EURO-SCHATZ FUT JUN190.000% 06/10/20190.0%
CAN 5YR FUT JUN190.000% 06/28/20190.0%
US 10YR ULTRA FUT JUN190.000% 06/28/20190.0%
US 5YR NOTE (CBT) JUN190.000% 07/03/20190.0%
Interest Rate Swap2.404% 04/01/20290.0%
Commercial Mortgage Backed Index Swap0.500% 11/18/20540.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Interest Rate Swap0.000% 04/01/20210.0%
Credit Index Swap1.000% 06/20/20240.0%
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% 09/17/20580.0%
Commercial Mortgage Backed Index Swap0.500% 09/17/20580.0%

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.

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 05/24/2019
$0.154
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2019 $0.03843 $14.92
Daily Daily 03/31/2019 $0.03898 $14.89
Daily Daily 02/28/2019 $0.03705 $14.67
Daily Daily 01/31/2019 $0.04005 $14.68

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
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 04/30/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
2.79% 1.08%

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.

 

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 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.

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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