Core Plus Bond Fund
Daily price w/o sales charge as of 09/23/2016
$15.48
$0.01
YTD Returns w/o sales charge as of 09/23/2016
7.45%
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
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 09/23/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 3.29% | 1.93% |
| w/ sales charge | 3.22% | 1.89% |
30-Day Standardized Yield 2 as of 08/31/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 2.55% | 0.94% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Expense Ratioas of 08/31/2016
Expense ratio details, Click here.
The net expense ratio is based on estimates for the current fiscal year and takes into account a management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through 03/31/2017. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such waiver/reimbursement, performance would have been lower.
Fund Basicsas of 08/31/2016
- Total Net Assets
- $10.87 M
- Inception Date
- 12/08/2015
- Dividend Frequency
- Monthly (Daily Accrual)
- Number of Holdings
- 314
- CUSIP
- 54401E572
- Minimum Initial Investment
- $1,500+
Expense ratio details, Click here.
The net expense ratio is based on estimates for the current fiscal year and takes into account a management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through 03/31/2017. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such waiver/reimbursement, performance would have been lower.
Fund Expense Ratio :
Gross 2.04%
Net 0.68%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 12/08/2015 |
|---|
| w/o sales charge | 7.40% | - | - | - | - | 6.77% |
| Lipper Category Avg. Core Plus Bond Funds | 6.62% | - | - | - | - | - |
| Barclays U.S. Universal Index | 6.67% | - | - | - | - | 6.30% |
| w/ sales charge | 4.99% | - | - | - | - | 4.37% |
Fund Expense Ratio :
Gross 2.04%
Net 0.68%
Fund Expense Ratio :
Gross 2.04%
Net 0.68%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 12/08/2015 |
|---|
| w/o sales charge | 5.29% | - | - | - | - | 4.67% |
| Lipper Category Avg. Core Plus Bond Funds | 5.23% | - | - | - | - | - |
| Barclays U.S. Universal Index | 5.68% | - | - | - | - | 5.32% |
| w/ sales charge | 2.92% | - | - | - | - | 2.32% |
Fund Expense Ratio :
Gross 2.04%
Net 0.68%
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 |
|---|---|
| Investment Grade Corporate | |
| U.S. Government Related | |
| High Yield Corporate | |
| ABS | |
| MBS | |
| CMBS | |
| Bank Loans | |
| Other | |
| Cash |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
| Maturity | Assets |
|---|---|
| Less than 1 year | |
| 1-2.99 years | |
| 3-4.99 years | |
| 5-6.99 years | |
| 7-9.99 years | |
| Greater than 10 years |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distribution as of 08/31/2016 View Portfolio
| Rating | Assets |
|---|---|
| U.S. Treasury | |
| Agency | |
| AAA | |
| AA | |
| A | |
| BBB | |
| <BBB | |
| Not Rated |
Ratings provided by Standard & Poor's and Moody's. Where S&P and Moody's rate a security differently, Lord Abbett uses the higher credit rating. 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 are not rated. The credit quality distribution breakdown is not an S&P credit rating or an opinion of S&P as to the credit worthiness of the portfolio.
Investment Team
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Performance
Performance
Dividend Yield 1 as of 09/23/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 3.29% | 1.93% |
| w/ sales charge | 3.22% | 1.89% |
30-Day Standardized Yield 2 as of 08/31/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 2.55% | 0.94% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Fund Expense Ratio :
Gross 2.04%
Net 0.68%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 12/08/2015 |
|---|
| w/o sales charge | 7.40% | - | - | - | - | 6.77% |
| Lipper Category Avg. Core Plus Bond Funds | 6.62% | - | - | - | - | - |
| Barclays U.S. Universal Index | 6.67% | - | - | - | - | 6.30% |
| w/ sales charge | 4.99% | - | - | - | - | 4.37% |
Fund Expense Ratio :
Gross 2.04%
Net 0.68%
Fund Expense Ratio :
Gross 2.04%
Net 0.68%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 12/08/2015 |
|---|
| w/o sales charge | 5.29% | - | - | - | - | 4.67% |
| Lipper Category Avg. Core Plus Bond Funds | 5.23% | - | - | - | - | - |
| Barclays U.S. Universal Index | 5.68% | - | - | - | - | 5.32% |
| w/ sales charge | 2.92% | - | - | - | - | 2.32% |
Fund Expense Ratio :
Gross 2.04%
Net 0.68%
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 |
|---|---|
| Investment Grade Corporate | |
| U.S. Government Related | |
| High Yield Corporate | |
| ABS | |
| MBS | |
| CMBS | |
| Bank Loans | |
| Other | |
| Cash |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
| Rating | Assets |
|---|---|
| Less than 1 year | |
| 1-2.99 years | |
| 3-4.99 years | |
| 5-6.99 years | |
| 7-9.99 years | |
| Greater than 10 years |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distribution as of 08/31/2016
| Rating | Assets |
|---|---|
| U.S. Treasury | |
| Agency | |
| AAA | |
| AA | |
| A | |
| BBB | |
| <BBB | |
| Not Rated |
Ratings provided by Standard & Poor's and Moody's. Where S&P and Moody's rate a security differently, Lord Abbett uses the higher credit rating. 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 are not rated. The credit quality distribution breakdown is not an S&P credit rating or an opinion of S&P as to the credit worthiness of the portfolio.
Portfolio Details as of 08/31/2016
- Total Net Assets
- $10.87 M
- Number of Issues
- 314
- Average Coupon
- 3.90%
- Average Life
- 7.3 Years
- Average Effective Duration
- 5.03 Years
- Average Modified Duration
- 5.2 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 |
|---|
| U.S. Treasury Note/Bond | 1.000% | 09/30/2016 | 7.9% |
| U.S. Treasury Note/Bond | 1.125% | 08/31/2021 | 5.0% |
| FNMA Conventional Long T. 30yr | 3.000% | 02/28/2045 | 4.6% |
| FNMA Conventional Long T. 30yr | 4.000% | 12/31/2043 | 3.0% |
| FNMA Conventional Interm. 15yr | 3.000% | 05/31/2030 | 2.7% |
| Carlyle Global Market Strategies Clo Ltd. | 2.180% | 10/15/2026 | 2.3% |
| U.S. Treasury Note/Bond | 1.375% | 05/31/2021 | 2.2% |
| FNMA Conventional Long T. 30yr | 4.500% | 06/30/2040 | 2.0% |
| U.S. Treasury Note/Bond | 1.375% | 06/30/2018 | 2.0% |
| Federal National Mortgage Assoc. | 3.500% | 01/01/2046 | 1.9% |
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 |
|---|
| U.S. Treasury Note/Bond | 1.500% | 07/31/2016 | 5.9% |
| U.S. Treasury Note/Bond | 1.125% | 07/31/2021 | 5.7% |
| FNMA Conventional Long T. 30yr | 3.000% | 02/28/2045 | 4.7% |
| FNMA Conventional Long T. 30yr | 4.000% | 12/31/2043 | 3.1% |
| FNMA Conventional Interm. 15yr | 3.000% | 05/31/2030 | 2.7% |
| U.S. Treasury Note/Bond | 1.625% | 05/15/2026 | 2.6% |
| Carlyle Global Market Strategies Clo Ltd. | 2.180% | 10/15/2026 | 2.3% |
| U.S. Treasury Note/Bond | 1.375% | 05/31/2021 | 2.2% |
| FNMA Conventional Long T. 30yr | 4.500% | 06/30/2040 | 2.0% |
| U.S. Treasury Note/Bond | 1.000% | 09/30/2016 | 1.9% |
| Federal National Mortgage Assoc. | 3.500% | 01/01/2046 | 1.9% |
| U.S. Treasury Note/Bond | 2.500% | 02/15/2046 | 1.3% |
| AT&T, Inc. | 6.300% | 01/15/2038 | 1.3% |
| BBCMS Trust 2015-SRCH | 4.197% | 08/10/2035 | 1.1% |
| U.S. Treasury Note/Bond | 0.875% | 09/15/2016 | 1.0% |
| Banc of America Commercial Mortgage Trust | 5.634% | 04/10/2049 | 1.0% |
| Extended Stay America Trust | 5.053% | 12/05/2031 | 0.9% |
| Avis Budget Rental Car Funding | 2.500% | 07/20/2021 | 0.9% |
| NextGear Floorplan Master Owner Trust | 2.380% | 10/15/2020 | 0.9% |
| CSMC Trust | 3.811% | 11/15/2034 | 0.9% |
| Verizon Communications, Inc. | 5.850% | 09/15/2035 | 0.8% |
| Citigroup, Inc. | 5.950% | 12/31/2099 | 0.8% |
| Engs Commercial Finance Trust | 2.310% | 10/22/2021 | 0.8% |
| Wachovia Bank Commercial Mortgage Trust Series | 5.795% | 07/15/2045 | 0.7% |
| Macquarie Equipment Funding Trust 2014-A | 1.230% | 07/20/2021 | 0.7% |
| COMM Mortgage Trust | 4.443% | 07/10/2050 | 0.7% |
| Federal National Mortgage Assoc. | 3.500% | 04/01/2046 | 0.7% |
| Ford Motor Co. | 6.375% | 02/01/2029 | 0.7% |
| Federal National Mortgage Assoc. | 3.500% | 02/01/2046 | 0.6% |
| Time Warner Cable, Inc. | 6.550% | 05/01/2037 | 0.6% |
| 21st Century Fox America, Inc. | 6.900% | 08/15/2039 | 0.6% |
| Bank of America Corp. | 6.500% | 12/31/2099 | 0.6% |
| Banc of America Commercial Mortgage | 5.317% | 06/10/2049 | 0.6% |
| 1345 Avenue of the Americas & Park Avenue Plaza Tr | 5.278% | 08/10/2035 | 0.6% |
| World Omni Automobile Lease Securitization Trust | 1.160% | 09/15/2017 | 0.5% |
| General Motors Co. | 6.600% | 04/01/2036 | 0.5% |
| Teachers Insurance & Annuity Association of Americ | 4.900% | 09/15/2044 | 0.5% |
| Georgia-Pacific LLC | 8.875% | 05/15/2031 | 0.5% |
| Wells Fargo Commercial Mortgage Trust | 4.297% | 07/15/2046 | 0.5% |
| Kinder Morgan Energy Partners L.P. | 7.500% | 11/15/2040 | 0.5% |
| Comm 2014-UBS2 Mortgage Trust | 4.199% | 03/10/2047 | 0.5% |
| COMM Mortgage Trust | 4.349% | 12/10/2047 | 0.5% |
| COMM Mortgage Trust | 4.443% | 07/10/2050 | 0.5% |
| Actavis Funding SCS | 4.550% | 03/15/2035 | 0.5% |
| WFRBS Commercial Mortgage Trust | 4.874% | 08/15/2045 | 0.5% |
| Amazon.com, Inc. | 4.800% | 12/05/2034 | 0.5% |
| Energy Transfer Partners L.P. | 6.625% | 10/15/2036 | 0.5% |
| FirstEnergy Solutions Corp. | 6.050% | 08/15/2021 | 0.5% |
| WFRBS Commercial Mortgage Trust | 4.277% | 03/15/2048 | 0.5% |
| FNMA Conventional Long T. 30yr | 3.500% | 05/31/2045 | 0.5% |
| GS Mortgage Securities Trust | 4.511% | 11/10/2047 | 0.5% |
| Wynn Las Vegas LLC | 5.375% | 03/15/2022 | 0.5% |
| Ally Master Owner Trust | 1.600% | 10/15/2019 | 0.5% |
| Federal Home Loan Mortgage Corp. | 3.500% | 03/01/2046 | 0.5% |
| Citigroup Commercial Mortgage Trust | 5.712% | 12/10/2049 | 0.5% |
| Morgan Stanley | 5.550% | 12/31/2099 | 0.5% |
| Time Warner, Inc. | 7.625% | 04/15/2031 | 0.5% |
| Wachovia Bank Commercial Mortgage Trust Series | 5.339% | 11/15/2048 | 0.5% |
| AmeriCredit Automobile Receivables Trust | 2.180% | 06/08/2020 | 0.5% |
| Wachovia Bank Commercial Mortgage Trust Series | 5.603% | 10/15/2048 | 0.5% |
| GS Mortgage Securities Trust | 4.511% | 11/10/2047 | 0.5% |
| T-Mobile USA, Inc. | 6.500% | 01/15/2026 | 0.5% |
| Dominion Resources, Inc. | 7.000% | 06/15/2038 | 0.4% |
| Montell Finance Co. BV | 8.100% | 03/15/2027 | 0.4% |
| Goldman Sachs Group, Inc. | 6.750% | 10/01/2037 | 0.4% |
| Enterprise Products Operating LLC | 5.750% | 03/01/2035 | 0.4% |
| Wells Fargo Commercial Mortgage Trust | 4.137% | 05/15/2048 | 0.4% |
| Drive Auto Receivables Trust | 2.280% | 06/17/2019 | 0.4% |
| AmeriCredit Automobile Receivables Trust | 1.680% | 07/08/2019 | 0.4% |
| Federal National Mortgage Assoc. | 3.500% | 11/01/2045 | 0.4% |
| California Republic Auto Receivables Trust | 2.530% | 06/15/2021 | 0.4% |
| The Royal Bank of Scotland Group PLC | 6.125% | 12/15/2022 | 0.4% |
| Kerr-McGee Corp. | 7.875% | 09/15/2031 | 0.4% |
| Ally Financial, Inc. | 4.125% | 03/30/2020 | 0.4% |
| ARC Properties Operating Partnership L.P. | 3.000% | 02/06/2019 | 0.4% |
| Amgen, Inc. | 6.400% | 02/01/2039 | 0.4% |
| Federal Home Loan Mortgage Corp. | 3.500% | 02/01/2046 | 0.4% |
| National Oilwell Varco, Inc. | 2.600% | 12/01/2022 | 0.4% |
| Oceaneering International, Inc. | 4.650% | 11/15/2024 | 0.4% |
| Trinity Industries, Inc. | 4.550% | 10/01/2024 | 0.4% |
| Santander UK plc | 7.950% | 10/26/2029 | 0.4% |
| Exelon Generation Co. LLC | 5.600% | 06/15/2042 | 0.4% |
| EPR Properties | 5.250% | 07/15/2023 | 0.3% |
| Sabine Pass LNG L.P. | 6.500% | 11/01/2020 | 0.3% |
| Flagship Credit Auto Trust 2015-3 | 2.380% | 10/15/2020 | 0.3% |
| Reynolds Group Issuer, Inc. | 5.750% | 10/15/2020 | 0.3% |
| Protective Life Corp. | 8.450% | 10/15/2039 | 0.3% |
| Royal Caribbean Cruises Ltd. | 7.500% | 10/15/2027 | 0.3% |
| Equinix, Inc. | 5.875% | 01/15/2026 | 0.3% |
| Capital One Multi-Asset Execution Trust | 0.931% | 02/15/2022 | 0.3% |
| Viacom, Inc. | 6.875% | 04/30/2036 | 0.3% |
| CarMax Auto Owner Trust | 0.970% | 04/16/2018 | 0.3% |
| Walgreen Co. | 4.500% | 11/18/2034 | 0.3% |
| Hewlett Packard Enterprise Co. | 4.900% | 10/15/2025 | 0.3% |
| DaVita, Inc. | 5.750% | 08/15/2022 | 0.3% |
| Charter Communications Operating LLC | 6.384% | 10/23/2035 | 0.3% |
| Federal National Mortgage Assoc. | 3.500% | 02/01/2046 | 0.3% |
| North Texas Tollway Auth | 8.910% | 02/01/2030 | 0.3% |
| Frontier Communications Corp. | 6.875% | 01/15/2025 | 0.3% |
| Florida Gas Transmission Co., LLC | 4.350% | 07/15/2025 | 0.3% |
| Drive Auto Receivables Trust | 2.120% | 06/17/2019 | 0.3% |
| Drive Auto Receivables Trust 2016-B | 1.380% | 08/15/2018 | 0.3% |
| Chrysler Capital Auto Receivables Trust | 1.270% | 05/15/2019 | 0.3% |
| US Cellular Corp. | 6.700% | 12/15/2033 | 0.3% |
| Weatherford International Ltd. Bermuda | 9.875% | 03/01/2039 | 0.3% |
| Fresenius Medical Care US Finance II, Inc. | 5.875% | 01/31/2022 | 0.3% |
| General Electric Co. | 6.750% | 03/15/2032 | 0.3% |
| AmeriCredit Automobile Receivables Trust 2014-3 | 1.920% | 11/08/2019 | 0.3% |
| Potlatch Corp. | 7.500% | 11/01/2019 | 0.3% |
| Jabil Circuit, Inc. | 8.250% | 03/15/2018 | 0.3% |
| MSCI, Inc. | 5.750% | 08/15/2025 | 0.3% |
| MGM Resorts International | 6.000% | 03/15/2023 | 0.3% |
| California Republic Auto Receivables Trust | 0.910% | 08/15/2018 | 0.3% |
| Aquarion Co. | 4.000% | 08/15/2024 | 0.3% |
| Gulfstream Natural Gas System LLC | 4.600% | 09/15/2025 | 0.3% |
| Constellation Brands, Inc. | 4.250% | 05/01/2023 | 0.2% |
| Discovery Communications LLC | 6.350% | 06/01/2040 | 0.2% |
| Bank of America Corp. | 4.250% | 10/22/2026 | 0.2% |
| CBRE Services, Inc. | 4.875% | 03/01/2026 | 0.2% |
| Starwood Hotels & Resorts Worldwide, Inc. | 4.500% | 10/01/2034 | 0.2% |
| California Republic Auto Receivables Trust 2015-4 | 3.730% | 11/15/2021 | 0.2% |
| CNO Financial Group, Inc. | 5.250% | 05/30/2025 | 0.2% |
| GCP Applied Technologies, Inc. | 9.500% | 02/01/2023 | 0.2% |
| Brixmor Operating Partnership L.P. | 3.850% | 02/01/2025 | 0.2% |
| CEC Entertainment, Inc. | 8.000% | 02/15/2022 | 0.2% |
| Navient Corp. | 4.875% | 06/17/2019 | 0.2% |
| California Republic Auto Receivables Trust 2015-4 | 2.040% | 01/15/2020 | 0.2% |
| California Republic Auto Receivables Trust 2016-2 | 1.560% | 07/15/2020 | 0.2% |
| Ford Credit Auto Owner Trust | 1.080% | 03/15/2019 | 0.2% |
| Americredit Automobile Receivables Trust | 1.270% | 07/08/2019 | 0.2% |
| Toyota Auto Receivables 2016-B Owner Trust | 1.020% | 10/15/2018 | 0.2% |
| HCP, Inc. | 3.400% | 02/01/2025 | 0.2% |
| Range Resources Corp. | 4.875% | 05/15/2025 | 0.2% |
| Ally Financial, Inc. | 8.000% | 11/01/2031 | 0.2% |
| Wells Fargo Commercial Mortgage Trust 2016-C35 | 4.176% | 07/15/2048 | 0.2% |
| Frontier Communications Corp. | 11.000% | 09/15/2025 | 0.2% |
| Expedia, Inc. | 5.000% | 02/15/2026 | 0.2% |
| Netflix, Inc. | 5.750% | 03/01/2024 | 0.2% |
| Puget Sound Energy, Inc. | 6.974% | 06/01/2067 | 0.2% |
| Helmerich & Payne International Drilling Co. | 4.650% | 03/15/2025 | 0.2% |
| Argos Merger Sub, Inc. | 7.125% | 03/15/2023 | 0.2% |
| Vista Outdoor, Inc. | 5.875% | 10/01/2023 | 0.2% |
| Pulte Group, Inc. | 5.500% | 03/01/2026 | 0.2% |
| Sirius XM Radio, Inc. | 6.000% | 07/15/2024 | 0.2% |
| Amsurg Corp. | 5.625% | 07/15/2022 | 0.2% |
| DuPont Fabros Technology, Inc. | 5.625% | 06/15/2023 | 0.2% |
| California Republic Auto Receivables Trust 2016-2 | 1.830% | 12/15/2021 | 0.2% |
| Drive Auto Receivables Trust 2016-B | 1.670% | 07/15/2019 | 0.2% |
| Nielsen Finance LLC / Nielsen Finance Co. | 5.000% | 04/15/2022 | 0.2% |
| AMC Networks, Inc. | 4.750% | 12/15/2022 | 0.2% |
| Teck Resources Ltd. | 4.750% | 01/15/2022 | 0.2% |
| Popular, Inc. | 7.000% | 07/01/2019 | 0.2% |
| Concho Resources, Inc. | 6.500% | 01/15/2022 | 0.2% |
| California Republic Auto Receivables Trust 2015-4 | 1.600% | 09/17/2018 | 0.2% |
| Leidos, Inc. | 7.125% | 07/01/2032 | 0.2% |
| Acadia Healthcare Co., Inc. | 6.500% | 03/01/2024 | 0.2% |
| Rockies Express Pipeline LLC | 6.875% | 04/15/2040 | 0.2% |
| Kinder Morgan, Inc. | 7.750% | 01/15/2032 | 0.2% |
| Teva Pharmaceutical Finance Co., LLC | 6.150% | 02/01/2036 | 0.2% |
| Gardner Denver, Inc. | 6.875% | 08/15/2021 | 0.2% |
| Glencore Finance Canada Ltd. | 6.000% | 11/15/2041 | 0.2% |
| CSL Capital, LLC | 8.250% | 10/15/2023 | 0.2% |
| Cablevision Systems Corp. | 5.875% | 09/15/2022 | 0.2% |
| Continental Resources, Inc. | 4.900% | 06/01/2044 | 0.2% |
| MEG Energy Corp. | 6.375% | 01/30/2023 | 0.2% |
| Santander Drive Auto Receivables Trust | 2.650% | 08/17/2020 | 0.2% |
| Duqesne Light Holdings, Inc. | 6.250% | 08/15/2035 | 0.2% |
| WhiteWave Foods Co. | 5.375% | 10/01/2022 | 0.2% |
| Apache Corp. | 6.000% | 01/15/2037 | 0.2% |
| CarMax Auto Owner Trust 2016-1 | 1.300% | 04/15/2019 | 0.2% |
| Rice Energy, Inc. | 6.250% | 05/01/2022 | 0.2% |
| Dow Chemical Co. | 9.400% | 05/15/2039 | 0.2% |
| HCA, Inc. | 7.500% | 11/06/2033 | 0.2% |
| USG Corp. | 5.500% | 03/01/2025 | 0.2% |
| Sealed Air Corp. | 5.500% | 09/15/2025 | 0.2% |
| Scotts Miracle-Gro Co. | 6.000% | 10/15/2023 | 0.2% |
| Diamond 1 Finance Corp. / Diamond 2 Finance Corp. | 6.020% | 06/15/2026 | 0.2% |
| L Brands, Inc. | 6.875% | 11/01/2035 | 0.2% |
| Diamond 1 Finance Corp. / Diamond 2 Finance Corp. | 8.100% | 07/15/2036 | 0.1% |
| Huntington Ingalls Industries, Inc. | 5.000% | 11/15/2025 | 0.1% |
| Cleco Corp. | 3.743% | 05/01/2026 | 0.1% |
| AbbVie, Inc. | 4.300% | 05/14/2036 | 0.1% |
| Mylan, Inc. | 3.950% | 06/15/2026 | 0.1% |
| CST Brands, Inc. | 5.000% | 05/01/2023 | 0.1% |
| Carmax Auto Owner Trust | 0.640% | 01/16/2018 | 0.1% |
| TI Group Automotive Systems LLC | 8.750% | 07/15/2023 | 0.1% |
| Cox Communications, Inc. | 8.375% | 03/01/2039 | 0.1% |
| Schlumberger Holdings Corp. | 4.000% | 12/21/2025 | 0.1% |
| Drive Auto Receivables Trust 2016-A | 3.170% | 05/15/2020 | 0.1% |
| National Financial Partners Corp. | 9.000% | 07/15/2021 | 0.1% |
| Alliance Data Systems, Inc. | 5.375% | 08/01/2022 | 0.1% |
| Express Scripts Holding Co. | 4.800% | 07/15/2046 | 0.1% |
| Trinity Acquisition plc | 4.400% | 03/15/2026 | 0.1% |
| JPMorgan Chase & Co. | 3.875% | 09/10/2024 | 0.1% |
| PaperWorks Industries, Inc. | 9.500% | 08/15/2019 | 0.1% |
| CIT Group, Inc. | 6.000% | 04/01/2036 | 0.1% |
| Emera US Finance L.P. | 3.550% | 06/15/2026 | 0.1% |
| Nationstar Mortgage LLC / Nationstar Capital Corp. | 7.875% | 10/01/2020 | 0.1% |
| Scottrade Financial Services, Inc. | 6.125% | 07/11/2021 | 0.1% |
| Appalachian Power Co. | 7.000% | 04/01/2038 | 0.1% |
| Hilcorp Energy L.P. / Hilcorp Finance Co. | 5.000% | 12/01/2024 | 0.1% |
| Kraft Heinz Foods Co. | 6.875% | 01/26/2039 | 0.1% |
| Verizon Communications, Inc. | 4.400% | 11/01/2034 | 0.1% |
| Verizon Communications, Inc. | 5.050% | 03/15/2034 | 0.1% |
| International Paper Co. | 7.300% | 11/15/2039 | 0.1% |
| Florida East Coast Railway Corp. | 9.750% | 05/01/2020 | 0.1% |
| MPG Holdco I, Inc. | 7.375% | 10/15/2022 | 0.1% |
| Florida East Coast Railway Corp. | 6.750% | 05/01/2019 | 0.1% |
| Sanchez Energy Corp. | 6.125% | 01/15/2023 | 0.1% |
| AmeriCredit Automobile Receivables Trust | 0.940% | 02/08/2019 | 0.1% |
| Morgan Stanley | 3.125% | 07/27/2026 | 0.1% |
| Mercedes-Benz Auto Receivables Trust | 1.340% | 12/16/2019 | 0.1% |
| Carnival plc | 7.875% | 06/01/2027 | 0.1% |
| Gates Global LLC | 6.000% | 07/15/2022 | 0.1% |
| PDC Energy, Inc. | 7.750% | 10/15/2022 | 0.1% |
| Enbridge Energy Partners L.P. | 8.050% | 10/01/2037 | 0.1% |
| Citigroup Commercial Mortgage Trust 2016-P4 | 4.134% | 07/10/2049 | 0.1% |
| Vulcan Materials Co. | 7.150% | 11/30/2037 | 0.1% |
| Santander Drive Auto Receivables Trust | 1.820% | 05/15/2019 | 0.1% |
| Chrysler Capital Auto Receivables Trust 2016-A | 1.470% | 04/15/2019 | 0.1% |
| Aleris International, Inc. | 9.500% | 04/01/2021 | 0.1% |
| Santander Drive Auto Receivables Trust 2016-2 | 1.380% | 07/15/2019 | 0.1% |
| JPMorgan Chase & Co. | 3.900% | 07/15/2025 | 0.1% |
| Ascentium Equipment Receivables 2016-1 Trust | 0.950% | 04/10/2017 | 0.1% |
| WaveDivision Escrow LLC / WaveDivision Escrow Corp | 8.125% | 09/01/2020 | 0.1% |
| Post Holdings, Inc. | 8.000% | 07/15/2025 | 0.1% |
| Mohegan Tribal Gaming Authority | 9.750% | 09/01/2021 | 0.1% |
| Bank of America Corp. | 6.300% | 12/31/2099 | 0.1% |
| Citigroup Commercial Mortgage Trust 2016-P3 | 4.998% | 04/15/2049 | 0.1% |
| Bill Barrett Corp. | 7.000% | 10/15/2022 | 0.1% |
| Santander Drive Auto Receivables Trust 2015-5 | 1.580% | 09/16/2019 | 0.1% |
| Capital One Multi-Asset Execution Trust | 1.260% | 01/15/2020 | 0.1% |
| Honda Auto Receivables 2015-1 Owner Trust | 1.050% | 10/15/2018 | 0.1% |
| OM Asset Management plc | 4.800% | 07/27/2026 | 0.1% |
| Air Canada | 7.750% | 04/15/2021 | 0.1% |
| CCM Merger, Inc. | 9.125% | 05/01/2019 | 0.1% |
| Century Intermediate Holding Co. | 9.750% | 02/15/2019 | 0.1% |
| Caesars Entertainment Resort Properties LLC | 11.000% | 10/01/2021 | 0.1% |
| Verizon Communications, Inc. | 6.400% | 09/15/2033 | 0.1% |
| Aetna, Inc. | 4.250% | 06/15/2036 | 0.1% |
| Reynolds American, Inc. | 5.700% | 08/15/2035 | 0.1% |
| Carrizo Oil & Gas, Inc. | 7.500% | 09/15/2020 | 0.1% |
| Townsquare Media, Inc. | 6.500% | 04/01/2023 | 0.1% |
| Citgo Holding, Inc. | 10.750% | 02/15/2020 | 0.1% |
| Caesars Growth Properties Holdings LLC | 9.375% | 05/01/2022 | 0.1% |
| TCF Auto Receivables Owner Trust 2015-2 | 4.240% | 08/15/2022 | 0.1% |
| Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp. | 6.375% | 06/01/2021 | 0.1% |
| Honda Auto Receivables Owner Trust | 1.130% | 09/16/2019 | 0.1% |
| Citgo Petroleum Corp. | 6.250% | 08/15/2022 | 0.1% |
| TCF Auto Receivables Owner Trust | 3.530% | 03/15/2022 | 0.1% |
| Telecom Italia Capital S.A. | 7.721% | 06/04/2038 | 0.1% |
| Morgan Stanley | 4.350% | 09/08/2026 | 0.1% |
| Energy Transfer Partners L.P. | 7.500% | 07/01/2038 | 0.1% |
| Express Scripts Holding Co. | 6.125% | 11/15/2041 | 0.1% |
| Fifth Third Auto Trust | 0.960% | 03/15/2019 | 0.1% |
| Neiman Marcus Group Ltd. Inc. | 8.000% | 10/15/2021 | 0.1% |
| Bank of America Corp. | 4.450% | 03/03/2026 | 0.1% |
| PPL Corp. | 5.200% | 07/15/2041 | 0.1% |
| Diamond 1 Finance Corp. / Diamond 2 Finance Corp. | 7.125% | 06/15/2024 | 0.1% |
| Building Materials Corp. of America | 5.500% | 02/15/2023 | 0.1% |
| Univision Communications, Inc. | 8.500% | 05/15/2021 | 0.1% |
| Surgical Care Affiliates, Inc. | 6.000% | 04/01/2023 | 0.1% |
| Citigroup Commercial Mortgage Trust 2016-P3 | 2.804% | 04/15/2049 | 0.1% |
| Hyundai Auto Receivables Trust | 1.010% | 02/15/2019 | 0.1% |
| Credit Index Swap | 1.000% | 06/20/2021 | 0.1% |
| Hyundai Auto Receivables Trust | 0.680% | 10/16/2017 | 0.1% |
| AmeriCredit Automobile Receivables Trust | 1.570% | 01/08/2019 | 0.1% |
| Revlon Escrow Corp. | 6.250% | 08/01/2024 | 0.1% |
| Drive Auto Receivables Trust | 2.230% | 09/16/2019 | 0.1% |
| J. Crew Group, Inc. | 4.000% | 03/05/2021 | 0.1% |
| Pharmaceutical Product Development LLC | 6.375% | 08/01/2023 | 0.1% |
| MGM Growth Properties Operating Partnership LP / M | 5.625% | 05/01/2024 | 0.1% |
| Goldcorp, Inc. | 5.450% | 06/09/2044 | 0.1% |
| 1011778 BC ULC / New Red Finance, Inc. | 6.000% | 04/01/2022 | 0.0% |
| Valvoline, Inc. | 5.500% | 07/15/2024 | 0.0% |
| Coeur Mining, Inc. | 7.875% | 02/01/2021 | 0.0% |
| New Albertson's, Inc. | 7.450% | 08/01/2029 | 0.0% |
| Navient Corp. | 6.625% | 07/26/2021 | 0.0% |
| Eldorado Resorts, Inc. | 7.000% | 08/01/2023 | 0.0% |
| Citigroup, Inc. | 4.450% | 09/29/2027 | 0.0% |
| BMW Vehicle Lease Trust | 0.730% | 02/21/2017 | 0.0% |
| Affiliated Managers Group, Inc. | 3.500% | 08/01/2025 | 0.0% |
| BMW Vehicle Owner Trust 2013-A | 1.120% | 04/27/2020 | 0.0% |
| NCF Dealer Floorplan Master Trust | 5.987% | 03/21/2022 | 0.0% |
| Affiliated Managers Group, Inc. | 4.250% | 02/15/2024 | 0.0% |
| Viacom, Inc. | 4.850% | 12/15/2034 | 0.0% |
| Commercial Mortgage Backed Index Swap | 1.500% | 09/17/2058 | 0.0% |
| MPH Acquisition Holdings LLC | 7.125% | 06/01/2024 | 0.0% |
| Commercial Mortgage Backed Index Swap | 3.000% | 01/17/2047 | 0.0% |
| Ally Auto Receivables Trust | 0.850% | 01/16/2018 | 0.0% |
| Hyundai Auto Receivables Trust | 0.730% | 06/15/2018 | 0.0% |
| MKS Instruments, Inc. | 4.250% | 04/19/2023 | 0.0% |
| Credit Index Swap | 1.000% | 06/20/2021 | 0.0% |
| US LONG BOND(CBT) SEP16 | 0.000% | 09/30/2016 | 0.0% |
| US 2YR NOTE (CBT) SEP16 | 0.000% | 10/05/2016 | 0.0% |
| US 10YR NOTE (CBT)SEP16 | 0.000% | 09/30/2016 | 0.0% |
| US 5YR NOTE (CBT) SEP16 | 0.000% | 10/05/2016 | 0.0% |
| Commercial Mortgage Backed Index Swap | 1.500% | 09/17/2058 | 0.0% |
| Commercial Mortgage Backed Index Swap | 0.350% | 10/17/2057 | 0.0% |
| Commercial Mortgage Backed Index Swap | 0.350% | 10/17/2057 | 0.0% |
| Commercial Mortgage Backed Index Swap | 0.500% | 09/17/2058 | 0.0% |
| Commercial Mortgage Backed Index Swap | 0.500% | 09/17/2058 | 0.0% |
| Commercial Mortgage Backed Index Swap | 0.350% | 10/17/2057 | 0.0% |
| Commercial Mortgage Backed Index Swap | 0.500% | 09/17/2058 | 0.0% |
| Commercial Mortgage Backed Index Swap | 0.500% | 09/17/2058 | 0.0% |
| Commercial Mortgage Backed Index Swap | 0.500% | 09/17/2058 | 0.0% |
| Commercial Mortgage Backed Index Swap | 0.350% | 09/17/2058 | 0.0% |
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.
Fees & Expenses
Fees & Expenses
Sales Charge Schedule as of 09/23/2016
| Sales Charge | Dealer's Concession | Prices at Breakpoint | |
|---|---|---|---|
| Less than $100,000 | 2.25% | 2.00% | $15.84 |
| $100,000 to $249,999 | 1.75% | 1.50% | $15.76 |
| $250,000 to $499,999 | 1.25% | 1.00% | $15.68 |
| $500,000 to $999,999 | 0.00% | 1.00% | $15.48 |
| $1,000,000 to $99,999,999 | 0.00% | 1.00% | $15.48 |
The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.
Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.
Expense Ratioas of 08/31/2016
Expense ratio details, Click here.
The net expense ratio is based on estimates for the current fiscal year and takes into account a management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through 03/31/2017. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such waiver/reimbursement, performance would have been lower.
Fund Review
Fund Review
Fund Review*Class A Share at net asset value (NAV). For the latest NAV, including maximum sales charges (MOP) performance information, visit us at lordabbett.com. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted.
If applicable, “Modestly” is defined as any under or outperformance within 100 basis points (bps) for equity funds and 50 basis points (bps) for fixed income funds as compared to the Fund's benchmark.
1“Press Release—Federal Reserve Issues FOMC Statement," Federal Reserve, June 15, 2016.
2“Economic Projections of Federal Reserve Board Members and Federal Reserve Bank Presidents, June 2016,” Federal Reserve, June 15, 2016.
3The Consumer Price Index (CPI) measures the price changes for each item in a predetermined basket of goods and services, and the inputs are weighted according to their importance to consumers.
4“News Release: Consumer Price Index Summary,” Bureau of Labor Statistics, June 16, 2016.
5“News Release: Employment Situation Summary,” Bureau of Labor Statistics, June 3, 2016.
6The BofA Merrill Lynch U.S. Treasury Index tracks the performance of U.S. dollar-denominated sovereign debt publicly issued by the U.S. government in its domestic market. Qualifying securities must have at least one year remaining term to final maturity, a fixed coupon schedule, and a minimum amount outstanding of $1 billion. Qualifying securities must have at least 18 months to final maturity at the time of issuance. Callable perpetual securities qualify provided they are at least one year from the first call date. Fixed-to-floating rate securities also qualify provided they are callable within the fixed rate period and are at least one year from the last call prior to the date the bond transitions from a fixed to a floating-rate security. Bills, inflation-linked debt, and strips are excluded from the index; however, original issue zero coupon bonds are included in the index and the amounts outstanding of qualifying coupon securities are not reduced by any portions that have been stripped. Securities issued or marketed primarily to retail investors do not qualify for inclusion in the index. Index constituents are capitalization-weighted based on their current amount outstanding times the market price plus accrued interest.
7The BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization‐weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro‐rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro‐rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro‐rata basis.
8The Credit Suisse Leveraged Loan Index is designed to mirror the investable universe of the U.S. dollar-denominated leveraged loan market. The CS Leveraged Loan Index, which includes reinvested dividends, has been taken from published sources.
9The 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.
10The BofA Merrill Lynch All Convertibles, All Qualities Index contains issues that have a greater than $50 million aggregate market value. The issues are U.S. dollar-denominated, sold into the U.S. market, and publicly traded in the United States.
11The Barclays U.S. Corporate Bond Index includes all publicly held issued, fixed-rate, nonconvertible investment-grade corporate debt. The index is composed of both U.S. and Brady bonds.
12The Barclays Mortgage-Backed Securities Index is an unmanaged index composed of all fixed securities mortgage pools by GNMA, FNMA, and the FHLMC, including GNMA graduated payment mortgages.
13The Barclays U.S. CMBS Investment Grade Index measures the market of conduit and fusion CMBS deals with a minimum current deal size of $300 million. The index is divided into two subcomponents: the U.S. Aggregate-eligible component, which contains bonds that are ERISA eligible under the underwriter's exemption, and the non-U.S. Aggregate-eligible component, which consists of bonds that are not ERISA eligible.
14The BofA Merrill Lynch U.S. Municipal Securities Index tracks the performance of U.S. dollar-denominated investment-grade tax-exempt debt publicly issued by U.S. states and territories, and their political subdivisions, in the U.S. domestic market. Qualifying securities must have at least one year remaining term to final maturity, a fixed coupon schedule, and an investment-grade rating (based on an average of Moody’s, Standard & Poor’s, and Fitch). Minimum size requirements vary based on the initial term to final maturity at time of issuance. Securities with an initial term to final maturity greater than or equal to one year and less than five years must have a current amount outstanding of at least $10 million. Securities with an initial term to final maturity greater than or equal to five years and less than 10 years must have a current amount outstanding of at least $15 million. Securities with an initial term to final maturity of 10 years or more must have a current amount outstanding of at least $25 million. The call date on which a pre-refunded bond will be redeemed is used for purposes of determining qualification with respect to final maturity requirements. Original issue zero coupon bonds are included in the index. Taxable municipal securities and 144a securities are excluded from the index.
15The J.P. Morgan Corporate Emerging Markets Bond Index Broad Diversified (CEMBI BD) is a market capitalization-weighted index that tracks total returns of U.S. dollar-denominated debt instruments issued by corporate entities in emerging markets countries. The index limits the current face amount allocations of the bonds in the CEMBI Broad by constraining the total face amount outstanding for countries with larger debt stocks.
16The 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.
The indexes are presented for informational purposes only and are not presented to illustrate any specific product or security. Unless otherwise specified, indexes reflect total return, with all dividends reinvested. An index is unmanaged, does not reflect the deduction of fees or expenses, and is not available for direct investment. Past performance is not a reliable indicator or guarantee of future results.
Treasuries are debt securities issued by the U.S. government and secured by its full faith and credit. Income from Treasury securities is exempt from state and local taxes.
The yield spread is the difference between yields on differing debt instruments, calculated by deducting the yield of one instrument from another. The higher the yield spread, the greater the difference between the yields offered by each instrument. The spread can be measured between debt instruments of differing maturities, credit ratings, and risk.
The Fund’s portfolio is actively managed and, therefore, its holdings and the weightings of a particular issuer or particular sector as a percentage of portfolio assets may change significantly over time. Sectors may include many industries. The mention of specific portfolio holdings 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.
The credit quality of the securities in a portfolio are assigned by a nationally recognized statistical rating organization (NRSRO), such as Standard & Poor’s, Moody’s, or Fitch, as an indication of an issuer’s creditworthiness. 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.
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.
Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal, and they also may be subject to call, liquidity and general market risks. Mortgage-backed securities may be subject to prepayment risk.
The views and information discussed in this commentary are as of June 30, 2016, are subject to change, and may not reflect the views of the firm as a whole. The views expressed in market commentaries are at a specific point in time, are opinions only, and should not be relied upon as a forecast, research, or investment advice regarding a particular investment or the markets in general. Information discussed should not be considered a recommendation to purchase or sell securities.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Lord Abbett Funds. This and other important information is contained in the Fund's summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional or Lord Abbett Distributor LLC at 888-522-2388, or visit us at www.lordabbett.com. Read the prospectus carefully before investing.
Fund Documents
Fund Documents
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Summary Prospectus
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Statutory Prospectus
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Prospectus (XBRL)
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SAI
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Semi-Annual Report
Publish Date:11/03/2015
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Fact Sheet
Publish Date:11/03/2015
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