Corporate Bond Fund

LBCAX

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Daily price w/o sales charge as of 10/21/2020

$10.53

$0.01

YTD Returns w/o sales charge as of 10/21/2020

5.75%

Please click here for performance current to the most recent quarter-end and month-end.

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Summary

What is the Corporate Bond Fund ?

The Fund seeks to deliver a high level of current income by investing primarily in investment grade corporate debt securities.

EXPERIENCED, TENURED TEAM

Constructed through the collaboration among 50+ investment professionals with extensive experience managing, researching, and trading corporate debt.

HIGH QUALITY, CORPORATE FOCUS

Invested primarily in corporate debt securities rated investment grade, limiting credit risk.

LOW EXPENSES

Offers lower expenses relative to its Lipper and Morningstar peer group category average.

Yield

Dividend Yield as of 10/21/2020

	Subsidized	Un-Subsidized
w/o sales charge	3.14%	0.00%
w/ sales charge	3.07%	0.00%

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

1.89%

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

Expense Ratioas of 09/30/2020

Expense ratio details, Click here.

The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 03/31/2021. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.

Fund Basicsas of 09/30/2020

Total Net Assets: $12.65 M
Inception Date: 04/20/2017
Dividend Frequency: Monthly (Daily Accrual)
Number of Holdings: 290
Minimum Initial Investment: $1,500+

Type	Assets
Investment Grade Corporate
High Yield Corporate
U.S. Government Related
ABS
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

CREDIT QUALITY DISTRIBUTION as of 09/30/2020 View Portfolio

Rating	Assets
U.S. Treasury
AAA
AA
A
BBB
<BBB

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

INVESTMENT TEAM

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

22 Years of Industry Experience

Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

Yoana N. Koleva, CFA

Managing Director & Portfolio Manager

17 Years of Industry Experience

Eric P. Kang

Portfolio Manager

21 Years of Industry Experience

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

Your Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Dividend Yield ¹ as of 10/21/2020

	Subsidized³	Un-Subsidized⁴
w/o sales charge	3.14%	0.00%
w/ sales charge	3.07%	0.00%

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

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	1.89%	1.89%

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

Fund Expense Ratio :

Gross 4.26%

Net 0.68%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 04/19/2017

w/o sales charge	5.56%	6.72%	5.46%	-	-	5.50%
Lipper Category Avg. Corporate Debt Funds BBB-Rated	6.95%	7.85%	5.98%	-	-	-
Bloomberg Barclays US Corp Investment Grade Index	6.64%	7.90%	6.41%	-	-	6.31%
w/ sales charge	3.14%	4.27%	4.67%	-	-	4.80%

Fund Expense Ratio :

Gross 4.26%

Net 0.68%

Fund Expense Ratio :

Gross 4.26%

Net 0.68%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 04/19/2017

w/o sales charge	5.56%	6.72%	5.46%	-	-	5.50%
Lipper Category Avg. Corporate Debt Funds BBB-Rated	6.95%	7.85%	5.98%	-	-	-
Bloomberg Barclays US Corp Investment Grade Index	6.64%	7.90%	6.41%	-	-	6.31%
w/ sales charge	3.14%	4.27%	4.67%	-	-	4.80%

Fund Expense Ratio :

Gross 4.26%

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 for future results.

Year	Fund Returns	Bloomberg Barclays US Corp Investment Grade Index

2019	12.95%	14.54%
2018	-2.94%	-2.51%
2017	3.93%	6.42%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2020	-6.23%	10.22%	2.14%	-	5.75%
2019	4.57%	3.99%	2.74%	1.09%	12.95%
2018	-2.00%	-1.22%	0.75%	-0.48%	-2.94%
2017	-	-	1.40%	1.35%	3.93%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

GROWTH OF $10,000 as of 09/30/2020

The chart begins on the Fund's inception date of 04/19/2017.

Based on a hypothetical Class A share investment of $10,000 on 04/19/2017 without sales charge and includes the reinvestment of all distributions.

NAV Historical Prices

Date	Net Asset Value

Portfolio

Type	Assets
Investment Grade Corporate
High Yield Corporate
U.S. Government Related
ABS
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

CREDIT QUALITY DISTRIBUTION as of 09/30/2020

Rating	Assets
U.S. Treasury
AAA
AA
A
BBB
<BBB

Portfolio Details as of 09/30/2020

Total Net Assets: $12.65 M
Number of Issues: 290
Average Coupon: 4.47%
Average Life: 13.09 Years
Average Effective Duration: 8.86 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

AT&T, Inc.	4.300%	02/15/2030	2.8%
Bank of America Corp.	3.593%	07/21/2028	2.4%
Citigroup, Inc.	3.668%	07/24/2028	2.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.875%	01/15/2027	1.3%
U.S. Treasury Note/Bond	1.375%	08/15/2050	1.3%
JPMorgan Chase & Co.	8.000%	04/29/2027	1.2%
T-Mobile USA, Inc.	3.750%	04/15/2027	1.2%
Charter Communications Operating LLC	6.484%	10/23/2045	1.2%
Morgan Stanley	3.875%	01/27/2026	1.1%
CVS Caremark Corp.	4.300%	03/25/2028	1.1%

% of Total Assets			15.7%

Holding	Coupon	Maturity	Assets

Bank of America Corp.	3.593%	07/21/2028	2.6%
Citigroup, Inc.	3.668%	07/24/2028	2.1%
U.S. Treasury Note/Bond	0.250%	07/31/2025	1.6%
AT&T, Inc.	4.300%	02/15/2030	1.5%
Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.875%	01/15/2027	1.2%
JPMorgan Chase & Co.	8.000%	04/29/2027	1.2%
Charter Communications Operating LLC	6.484%	10/23/2045	1.2%
T-Mobile USA, Inc.	3.750%	04/15/2027	1.1%
CVS Caremark Corp.	4.300%	03/25/2028	1.0%
JPMorgan Chase & Co.	3.960%	01/29/2027	1.0%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl	4.700%	02/01/2036	1.0%
Morgan Stanley	3.875%	01/27/2026	1.0%
AbbVie, Inc.	4.250%	11/21/2049	1.0%
General Motors Co.	6.750%	04/01/2046	0.9%
Apple, Inc.	4.450%	05/06/2044	0.9%
Sabine Pass Liquefaction LLC	5.875%	06/30/2026	0.9%
NBCUniversal Enterprise, Inc.	5.250%	06/19/2099	0.8%
Oracle Corp.	6.125%	07/08/2039	0.8%
Equinix, Inc.	5.375%	05/15/2027	0.8%
Comcast Corp.	4.950%	10/15/2058	0.8%
McDonald's Corp.	6.300%	10/15/2037	0.8%
Anthem, Inc.	2.250%	05/15/2030	0.7%
Altria Group, Inc.	5.950%	02/14/2049	0.7%
Dell International LLC / EMC Corp	6.020%	06/15/2026	0.7%
Vistra Operations Co LLC	3.550%	07/15/2024	0.7%
Diamondback Energy, Inc.	5.375%	05/31/2025	0.7%
Boston Scientific Corp.	2.650%	06/01/2030	0.6%
HCA, Inc.	5.500%	06/15/2047	0.6%
Burlington Northern Santa Fe LLC	5.750%	05/01/2040	0.6%
CNO Financial Group, Inc.	5.250%	05/30/2025	0.6%
Wells Fargo Capital X	5.950%	12/01/2086	0.6%
Biogen Idec, Inc.	2.250%	05/01/2030	0.6%
Anheuser-Busch InBev Worldwide, Inc.	8.200%	01/15/2039	0.6%
Gilead Sciences, Inc.	4.150%	03/01/2047	0.6%
Exelon Generation Co. LLC	5.600%	06/15/2042	0.6%
Goodman US Finance Three LLC	3.700%	03/15/2028	0.6%
Abbott Laboratories	4.750%	11/30/2036	0.6%
Bank of Montreal	3.803%	12/15/2032	0.6%
Shell International Finance BV	6.375%	12/15/2038	0.6%
Orange S.A.	9.000%	03/01/2031	0.6%
Goldman Sachs Group, Inc.	6.750%	10/01/2037	0.6%
AT&T, Inc.	6.250%	03/29/2041	0.5%
Snap-on, Inc.	3.100%	05/01/2050	0.5%
Universal Health Services, Inc.	4.750%	08/01/2022	0.5%
Macquarie Bank Ltd.	6.625%	04/07/2021	0.5%
Sabal Trail Transmission LLC	4.246%	05/01/2028	0.5%
Morgan Stanley	4.431%	01/23/2030	0.5%
NRG Energy, Inc.	4.450%	06/15/2029	0.5%
AstraZeneca plc	6.450%	09/15/2037	0.5%
Berkshire Hathaway Finance Corp.	4.250%	01/15/2049	0.5%
Boeing Co.	5.805%	05/01/2050	0.5%
PayPal Holdings, Inc.	2.850%	10/01/2029	0.5%
NVR, Inc.	3.000%	05/15/2030	0.5%
Cox Communications, Inc.	8.375%	03/01/2039	0.5%
FLIR Systems, Inc.	2.500%	08/01/2030	0.5%
Continental Resources, Inc.	5.000%	09/15/2022	0.5%
BorgWarner, Inc.	2.650%	07/01/2027	0.5%
IDEX Corp.	3.000%	05/01/2030	0.5%
Zimmer Biomet Holdings, Inc.	5.750%	11/30/2039	0.5%
Las Vegas Sands Corp.	3.900%	08/08/2029	0.5%
Oglethorpe Power Corp.	5.950%	11/01/2039	0.5%
PTL Finance Corp.	4.125%	08/01/2023	0.4%
Mississippi Power Co.	4.250%	03/15/2042	0.4%
Ohio Edison Co.	8.250%	10/15/2038	0.4%
Sempra Energy	4.000%	02/01/2048	0.4%
BAT Capital Corp	4.390%	08/15/2037	0.4%
EPR Properties	4.950%	04/15/2028	0.4%
GATX Corp.	4.550%	11/07/2028	0.4%
Wabtec Corp.	4.950%	09/15/2028	0.4%
NGPL Pipeco LLC	4.875%	08/15/2027	0.4%
Wells Fargo & Co.	2.188%	04/30/2026	0.4%
Huntington Ingalls Industries, Inc.	5.000%	11/15/2025	0.4%
Vulcan Materials Co.	1.000%	03/01/2021	0.4%
Protective Life Corp.	8.450%	10/15/2039	0.4%
Huntington Ingalls Industries, Inc.	3.844%	05/01/2025	0.4%
Glencore Finance Canada Ltd.	5.550%	10/25/2042	0.4%
Teachers Insurance & Annuity Association of Americ	4.900%	09/15/2044	0.4%
Regeneron Pharmaceuticals, Inc.	1.750%	09/15/2030	0.4%
CSX Corp.	6.000%	10/01/2036	0.4%
New York Life Insurance Co	4.450%	05/15/2069	0.4%
Dominion Resources, Inc.	7.000%	06/15/2038	0.4%
Cigna Corp	6.125%	11/15/2041	0.4%
Amazon.com, Inc.	2.500%	06/03/2050	0.4%
Roper Industries, Inc.	3.800%	12/15/2026	0.4%
Catholic Health Initiatives	3.347%	10/01/2029	0.4%
Toronto-Dominion Bank	3.625%	09/15/2031	0.4%
CNH Capital LLC	4.375%	04/05/2022	0.4%
Hess Corp.	5.600%	02/15/2041	0.4%
AT&T, Inc.	5.550%	08/15/2041	0.4%
VEREIT Operating Partnership L.P.	4.875%	06/01/2026	0.4%
Comerica, Inc.	4.000%	02/01/2029	0.4%
Helmerich & Payne, Inc.	4.650%	03/15/2025	0.4%
Park Aerospace Holdings Ltd	5.500%	02/15/2024	0.4%
AbbVie, Inc.	4.700%	05/14/2045	0.4%
PPL Corp.	5.200%	07/15/2041	0.4%
Lincoln National Corp.	6.300%	10/09/2037	0.4%
Halliburton Co.	7.450%	09/15/2039	0.4%
Oklahoma Gas and Electric	5.250%	05/15/2041	0.4%
Midwest Connector Capital Co LLC	3.900%	04/01/2024	0.4%
Global Payments, Inc.	3.200%	08/15/2029	0.4%
TransAlta Corp.	4.500%	11/15/2022	0.4%
Boeing Co.	5.930%	05/01/2060	0.3%
Fox Corp	4.709%	01/25/2029	0.3%
WEA Finance LLC	2.875%	01/15/2027	0.3%
Canadian Pacific Railway Co.	7.125%	10/15/2031	0.3%
Canadian Natural Resources Ltd.	7.200%	01/15/2032	0.3%
Parsley Energy LLC	5.375%	01/15/2025	0.3%
Santander UK plc	7.950%	10/26/2029	0.3%
Goldman Sachs Group, Inc.	4.250%	10/21/2025	0.3%
Kinross Gold Corp.	4.500%	07/15/2027	0.3%
Enbridge Energy Partners L.P.	7.500%	04/15/2038	0.3%
Southwest Gas Corp.	4.150%	06/01/2049	0.3%
NXP BV / NXP Funding LLC / NXP USA Inc	3.150%	05/01/2027	0.3%
CVS Caremark Corp.	5.050%	03/25/2048	0.3%
Roper Industries, Inc.	1.400%	09/15/2027	0.3%
BAT Capital Corp	3.557%	08/15/2027	0.3%
Carlisle Cos., Inc.	2.750%	03/01/2030	0.3%
Westpac Banking Corp.	4.110%	07/24/2034	0.3%
Xylem, Inc.	4.375%	11/01/2046	0.3%
Emera US Finance L.P.	4.750%	06/15/2046	0.3%
NiSource, Inc.	5.950%	06/15/2041	0.3%
Owens Corning	4.300%	07/15/2047	0.3%
Cimarex Energy Co.	4.375%	03/15/2029	0.3%
Progress Energy, Inc.	7.750%	03/01/2031	0.3%
Wells Fargo & Co.	2.393%	06/02/2028	0.3%
Dell International LLC / EMC Corp.	8.350%	07/15/2046	0.3%
MPLX L.P.	5.250%	01/15/2025	0.3%
Bayer Corp	6.650%	02/15/2028	0.3%
Georgia Power Co.	4.750%	09/01/2040	0.3%
Microsoft Corp.	3.450%	08/08/2036	0.3%
Valmont Industries, Inc.	5.250%	10/01/2054	0.3%
Weyerhaeuser Co.	4.000%	04/15/2030	0.3%
Sysco Corp.	6.600%	04/01/2040	0.3%
Los Angeles Unif Sch Dist, CA	5.750%	07/01/2034	0.3%
SAIC, Inc.	5.950%	12/01/2040	0.3%
Aircastle Ltd.	4.250%	06/15/2026	0.3%
New York and Presbyterian Hospital/The	3.954%	08/01/2119	0.3%
Neuberger Berman Group LLC	4.500%	03/15/2027	0.3%
Macquarie Group Ltd.	4.654%	03/27/2029	0.3%
Statoil ASA	7.150%	11/15/2025	0.3%
Assurant, Inc.	3.700%	02/22/2030	0.3%
Alleghany Corp.	3.625%	05/15/2030	0.3%
ITC Holdings Corp.	3.350%	11/15/2027	0.3%
Healthcare Realty Trust, Inc.	3.875%	05/01/2025	0.3%
DTE Energy Co.	2.950%	03/01/2030	0.3%
Weyerhaeuser Co.	8.500%	01/15/2025	0.3%
Cargill Inc	2.125%	04/23/2030	0.3%
Lockheed Martin Corp.	4.500%	05/15/2036	0.3%
Carrier Global Corp	2.700%	02/15/2031	0.3%
Cigna Corp	4.800%	07/15/2046	0.3%
Ally Financial, Inc.	8.000%	11/01/2031	0.3%
Cleco Corp.	4.973%	05/01/2046	0.3%
Southwestern Public Svc Co.	4.500%	08/15/2041	0.3%
CoStar Group, Inc.	2.800%	07/15/2030	0.3%
Diamondback Energy, Inc.	2.875%	12/01/2024	0.3%
Westpac Banking Corp.	4.322%	11/23/2031	0.3%
SL Green Operating Partnership L.P.	3.250%	10/15/2022	0.3%
Northwell Healthcare, Inc.	3.979%	11/01/2046	0.3%
AstraZeneca plc	1.516%	06/10/2022	0.2%
Pentair Finance SA	3.150%	09/15/2022	0.2%
California St Univ	3.899%	11/01/2047	0.2%
Sysco Corp.	2.400%	02/15/2030	0.2%
National Oilwell Varco, Inc.	3.950%	12/01/2042	0.2%
MidAmerican Energy Co	5.750%	11/01/2035	0.2%
Entergy Arkansas, Inc.	4.950%	12/15/2044	0.2%
Suncor Energy, Inc.	7.875%	06/15/2026	0.2%
Public Service Co of Oklahoma	6.625%	11/15/2037	0.2%
Alimentation Couche-Tard, Inc.	2.950%	01/25/2030	0.2%
Mount Sinai Hospitals Group Inc	3.737%	07/01/2049	0.2%
Piedmont Natural Gas Co., Inc.	3.640%	11/01/2046	0.2%
Eni USA Inc	7.300%	11/15/2027	0.2%
MPLX L.P.	6.250%	10/15/2022	0.2%
Royalty Pharma PLC	2.200%	09/02/2030	0.2%
DTE Energy Co.	6.375%	04/15/2033	0.2%
Monongahela Pwr Co	4.100%	04/15/2024	0.2%
Miami Dade Cnty, FL	4.280%	10/01/2041	0.2%
Brightsphere Investment Group Inc	4.800%	07/27/2026	0.2%
Nvent Finance Sarl	4.550%	04/15/2028	0.2%
Carrier Global Corp	3.577%	04/05/2050	0.2%
Avista Corp.	4.350%	06/01/2048	0.2%
E*TRADE Financial Corp.	3.800%	08/24/2027	0.2%
Trimble Navigation Ltd.	4.750%	12/01/2024	0.2%
Cleco Power LLC	6.000%	12/01/2040	0.2%
Fox Corp	5.476%	01/25/2039	0.2%
NYU Hospitals Center	4.368%	07/01/2047	0.2%
U.S. Treasury Note/Bond	1.375%	08/15/2050	0.2%
Viper Energy Partners LP	5.375%	11/01/2027	0.2%
Patterson-UTI Energy, Inc.	3.950%	02/01/2028	0.2%
Kaiser Foundation Hospitals	4.150%	05/01/2047	0.2%
Securian Financial Group Inc	4.800%	04/15/2048	0.2%
Hardee's Funding LLC	4.959%	06/20/2048	0.2%
AstraZeneca plc	1.051%	08/17/2023	0.2%
MPLX L.P.	2.099%	09/09/2022	0.2%
CVS Caremark Corp.	4.780%	03/25/2038	0.2%
HSBC USA, Inc.	9.300%	06/01/2021	0.2%
Puget Sound Energy, Inc.	5.764%	07/15/2040	0.2%
American Homes 4 Rent LP	4.900%	02/15/2029	0.2%
Selective Insurance Group, Inc.	5.375%	03/01/2049	0.2%
Leidos, Inc.	4.375%	05/15/2030	0.2%
New York St Electric & Gas Corp.	3.300%	09/15/2049	0.2%
Piedmont Natural Gas Co., Inc.	4.100%	09/18/2034	0.2%
SL Green Realty Corp.	4.500%	12/01/2022	0.2%
Interstate Power and Light Co	3.500%	09/30/2049	0.2%
Colonial Pipeline Co.	3.750%	10/01/2025	0.2%
Southern Copper Corp.	5.875%	04/23/2045	0.2%
Westpac Banking Corp.	2.650%	01/16/2030	0.2%
Wells Fargo & Co.	4.650%	11/04/2044	0.2%
Trimble Navigation Ltd.	4.900%	06/15/2028	0.2%
Hanover Insurance Group, Inc.	4.500%	04/15/2026	0.2%
BAT Capital Corp	3.222%	08/15/2024	0.2%
Fresenius Medical Care US Finance II, Inc.	4.750%	10/15/2024	0.2%
AT&T, Inc.	2.300%	06/01/2027	0.2%
Webster Financial Corp.	4.100%	03/25/2029	0.2%
Occidental Petroleum Corp.	6.950%	07/01/2024	0.2%
Owens Corning	3.875%	06/01/2030	0.2%
El Paso Electric Co.	6.000%	05/15/2035	0.2%
Lockheed Martin Corp.	7.750%	05/01/2026	0.2%
Aquarion Co.	4.000%	08/15/2024	0.2%
AbbVie, Inc.	4.875%	11/14/2048	0.2%
DTE Electric Co	2.625%	03/01/2031	0.2%
Southwestern Public Svc Co.	3.150%	05/01/2050	0.2%
Boral Finance Pty Ltd	3.000%	11/01/2022	0.2%
California	7.600%	11/01/2040	0.2%
Ausgrid Finance Pty Ltd	4.350%	08/01/2028	0.2%
Continental Resources, Inc.	4.900%	06/01/2044	0.1%
Tucson Electric Power Co.	1.500%	08/01/2030	0.1%
Charles Schwab & Co., Inc.	5.375%	04/30/2170	0.1%
Affiliated Managers Group, Inc.	3.500%	08/01/2025	0.1%
Gulfstream Natural Gas System LLC	4.600%	09/15/2025	0.1%
Global Payments, Inc.	2.900%	05/15/2030	0.1%
Tampa Electric Co.	6.150%	05/15/2037	0.1%
National Fuel Gas Co.	4.900%	12/01/2021	0.1%
National Fuel Gas Co.	7.395%	03/30/2023	0.1%
Chicago, IL	6.314%	01/01/2044	0.1%
Steel Dynamics, Inc.	5.000%	12/15/2026	0.1%
Univ of California Bd of Regents	3.006%	05/15/2050	0.1%
AT&T, Inc.	3.650%	06/01/2051	0.1%
Entergy Louisiana LLC	4.000%	03/15/2033	0.1%
Puget Energy, Inc.	5.625%	07/15/2022	0.1%
Apache Corp.	5.100%	09/01/2040	0.1%
Albemarle Corp.	1.330%	11/15/2022	0.1%
American Homes 4 Rent LP	4.250%	02/15/2028	0.1%
CSX Corporation, Inc.	7.875%	05/15/2043	0.1%
Transatlantic Holdings, Inc.	8.000%	11/30/2039	0.1%
Boeing Co.	5.150%	05/01/2030	0.1%
Puget Energy, Inc.	4.100%	06/15/2030	0.1%
Kennametal, Inc.	4.625%	06/15/2028	0.1%
Puget Energy, Inc.	3.650%	05/15/2025	0.1%
U.S. Treasury Note/Bond	0.625%	08/15/2030	0.1%
Interstate Power and Light Co	3.600%	04/01/2029	0.1%
ServiceNow, Inc.	1.400%	09/01/2030	0.1%
Interstate Power and Light Co	4.700%	10/15/2043	0.1%
El Paso Electric Co.	5.000%	12/01/2044	0.1%
Neuberger Berman Group LLC	4.875%	04/15/2045	0.1%
Southern Star Central Corp.	5.125%	07/15/2022	0.1%
Boeing Co.	5.705%	05/01/2040	0.1%
FirstEnergy Transmission LLC	4.550%	04/01/2049	0.1%
Energy Transfer Operating LP	7.600%	02/01/2024	0.1%
Energy Transfer Operating LP	5.875%	01/15/2024	0.1%
Canadian Pacific Railway Co.	9.450%	08/01/2021	0.1%
Puget Energy, Inc.	6.000%	09/01/2021	0.1%
Healthcare Trust of America Holdings LP	3.100%	02/15/2030	0.1%
E*TRADE Financial Corp.	4.500%	06/20/2028	0.1%
Suncor Energy Ventures Corp	4.500%	04/01/2022	0.1%
Hess Corp.	5.800%	04/01/2047	0.1%
Canadian National Railway Co.	7.375%	10/15/2031	0.1%
Diamondback Energy, Inc.	4.750%	05/31/2025	0.1%
Boeing Co.	3.600%	05/01/2034	0.1%
Activision Blizzard, Inc.	1.350%	09/15/2030	0.1%
CNA Financial Corp.	2.050%	08/15/2030	0.1%
NYU Hospitals Center	4.784%	07/01/2044	0.1%
National Fuel Gas Co.	3.950%	09/15/2027	0.1%
Hanover Insurance Group, Inc.	2.500%	09/01/2030	0.1%
Smithfield Foods, Inc.	3.350%	02/01/2022	0.1%
American Airlines Class B Pass Through Trust	4.375%	10/01/2022	0.1%
Avolon Holdings Funding Ltd	5.125%	10/01/2023	0.1%
Healthcare Realty Trust, Inc.	2.400%	03/15/2030	0.1%
Entergy Texas, Inc.	4.000%	03/30/2029	0.0%
Morgan Stanley	5.000%	11/24/2025	0.0%
Valero Energy Corp.	8.750%	06/15/2030	0.0%
Suncor Energy Ventures Corp	9.400%	09/01/2021	0.0%
Healthcare Realty Trust, Inc.	3.625%	01/15/2028	0.0%
Statoil ASA	1.750%	01/22/2026	0.0%
CNH Capital LLC	4.875%	04/01/2021	0.0%
Illinois, IL	5.100%	06/01/2033	0.0%
Pepperdine University	3.301%	12/01/2059	0.0%
Illinois, IL	4.950%	06/01/2023	0.0%
Halliburton Co.	3.800%	11/15/2025	0.0%
San Diego Gas & Electric Co	1.914%	02/01/2022	0.0%
Andeavor LLC	5.375%	10/01/2022	0.0%
BAT Capital Corp	4.700%	04/02/2027	0.0%
National Fuel Gas Co.	5.200%	07/15/2025	0.0%
US 10YR ULTRA FUT DEC20	0.000%	12/31/2020	0.0%
US 2YR NOTE (CBT) DEC20	0.000%	01/06/2021	0.0%
US LONG BOND(CBT) DEC20	0.000%	12/31/2020	0.0%
US ULTRA BOND CBT DEC20	0.000%	12/31/2020	0.0%
US 10YR NOTE (CBT)DEC20	0.000%	12/31/2020	0.0%
US 5YR NOTE (CBT) DEC20	0.000%	01/06/2021	0.0%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 10/21/2020: $0.260
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	09/30/2020	$0.02753	$10.53
Daily	Daily	08/31/2020	$0.02752	$10.57
Daily	Daily	07/31/2020	$0.02754	$10.73
Daily	Daily	06/30/2020	$0.02968	$10.39
Daily	Daily	05/31/2020	$0.02984	$10.16
Daily	Daily	04/30/2020	$0.02991	$9.99
Daily	Daily	03/31/2020	$0.02959	$9.51
Daily	Daily	02/29/2020	$0.02917	$10.57
Daily	Daily	01/31/2020	$0.02964	$10.48

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

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

CAPITAL GAINS DISTRIBUTIONS

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Click Here To View Estimated Capital Gain Distributions

For

Record Date	Reinvest & Payable Date	Long-term	Short-term *	Total	Reinvest Price
12/14/2017	12/15/2017	-	$0.0068	$0.0068	$10.14

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor.

Upcoming Capital Gain Distribution

Record Date	Ex-Dividend Date
12/17/2020	12/18/2020

Fees & Expenses

Sales Charge Schedule as of 10/21/2020

	Sales Charge	Dealer's Concession	Prices at Breakpoint
Less than $100,000	2.25%	2.00%	$10.77
$100,000 to $249,999	1.75%	1.50%	$10.72
$250,000 to $499,999	1.25%	1.00%	$10.66
$500,000 to $999,999	0.00%	1.00%	$10.53
$1,000,000 to $5,000,000	0.00%	1.00%	$10.53

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.

For Sales Charge Reductions and Waivers Click here.

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

Rights of Accumulation - A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.
Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

purchases of $1 million or more (may be subject to a CDSC);
purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

EXPENSE RATIOas of 09/30/2020

Expense ratio details, Click here.

Fund Documents

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	Summary Prospectus Publish Date:11/03/2015
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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

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^*Barron’s Top Fund Families of 2019, February 14, 2020, #5 in the Taxable Bond Category among 55 fund families. Based on the net total return of the one−year period ending 12/31/2019. #14 Overall ranking among 55 qualifying fund families based on the net total return of the one-year period ending 12/31/2019. Five-year Overall ranking is #30 out of 52 fund families; 10-year Overall ranking is #33 out of 45 fund families.

Source: Barron’s, “Barron’s Top Fund Families of 2019,” February 14, 2020. Barron’s rankings are based on asset weighted returns in funds in five categories: U.S. equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2019, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2019 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well. Barron's Fund Family Rankings are awarded annually.

© Reuters 2020. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

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.

12-Month Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to its value with maximum sales charges and without sales charges. The fund’s dividend yield is calculated by dividing the fund’s income distributions over the previous year by the fund’s current value with maximum sales charges and without sales charges.

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.

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.

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.

IMPORTANT INFORMATION

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investment strategy. Diversification does not guarantee a profit or protect against loss in declining markets.

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 will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. 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. 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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

Class A Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and distribution fees.

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1.50% if the shares are repurchased before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and distribution fees.

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. Corporate Investment Grade Index is the Corporate component of the U.S. Credit index. The U.S. Credit index is defined as publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity, and quality requirements. To qualify, bonds must be SEC-registered. The index includes both corporate and non-corporate sectors. Bonds must be an investment grade credit security and have at least $250 million par amount outstanding.

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.

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Summary

Summary

What is the Corporate Bond Fund ?

The Fund seeks to deliver a high level of current income by investing primarily in investment grade corporate debt securities.

EXPERIENCED, TENURED TEAM

HIGH QUALITY, CORPORATE FOCUS

LOW EXPENSES

Yield

Dividend Yield as of 10/21/2020

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

Expense Ratioas of 09/30/2020

Fund Basicsas of 09/30/2020

CREDIT QUALITY DISTRIBUTION as of 09/30/2020 View Portfolio

INVESTMENT TEAM

Your Representative

Performance

Performance

Dividend Yield 1 as of 10/21/2020

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

Fund Expense Ratio :

Gross 4.26%

Net 0.68%

Fund Expense Ratio :

Gross 4.26%

Net 0.68%

Fund Expense Ratio :

Gross 4.26%

Net 0.68%

Fund Expense Ratio :

Gross 4.26%

Net 0.68%

GROWTH OF $10,000 as of 09/30/2020

NAV Historical Prices

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 09/30/2020

Portfolio Details as of 09/30/2020

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

CAPITAL GAINS DISTRIBUTIONS

Upcoming Capital Gain Distribution

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 10/21/2020

EXPENSE RATIOas of 09/30/2020

Fund Documents

Fund Documents

Dividend Yield ¹ as of 10/21/2020

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