Corporate Bond Fund

LBCAX

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Daily price w/o sales charge as of 07/21/2017

$10.12

$0.02

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 07/21/2017

	Subsidized	Un-Subsidized
w/o sales charge	3.96%	3.77%
w/ sales charge	3.87%	3.69%

30-Day Standardized Yield as of 06/30/2017

	Subsidized	Un-Subsidized
w/o sales charge	2.79%	0.00%

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

Expense Ratioas of 06/30/2017

Expense ratio details, Click here.

The net expense is based on estimates for the current fiscal year and takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 03/31/2018. 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 06/30/2017

Total Net Assets: $5.09 M
Inception Date: 04/20/2017
Dividend Frequency: Monthly (Daily Accrual)
Number of Holdings: 172
CUSIP: 54401X851
Minimum Initial Investment: $1,500+

Type	Assets
Investment Grade Corporate
ABS
U.S. Government Related
Bank Loans
High Yield Corporate
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 06/30/2017 View Portfolio

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

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

INVESTMENT TEAM

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

19 Years of Industry Experience

Kewjin Yuoh

Partner & Portfolio Manager

23 Years of Industry Experience

Leah G. Traub, Ph.D.

Partner & Portfolio Manager

16 Years of Industry Experience

Supported By 62 Investment Professionals and 14 Years Avg. Industry Experience

Your Representive

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

Performance

Dividend Yield ¹ as of 07/21/2017

	Subsidized³	Un-Subsidized⁴
w/o sales charge	3.96%	3.77%
w/ sales charge	3.87%	3.69%

30-Day Standardized Yield ² as of 06/30/2017

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	2.79%	0.00%

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

Fund Expense Ratio :

Gross 0.87%

Net 0.68%

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

w/o sales charge	-	-	-	-	-	1.13%
Lipper Category Avg. Corporate Debt Funds BBB-Rated	-	-	-	-	-	-
Bloomberg Barclays US Corp Investment Grade Index	-	-	-	-	-	1.17%
w/ sales charge	-	-	-	-	-	-1.14%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.87%

Net 0.68%

Fund Expense Ratio :

Gross 0.87%

Net 0.68%

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

w/o sales charge	-	-	-	-	-	1.13%
Lipper Category Avg. Corporate Debt Funds BBB-Rated	-	-	-	-	-	-
Bloomberg Barclays US Corp Investment Grade Index	-	-	-	-	-	1.17%
w/ sales charge	-	-	-	-	-	-1.14%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.87%

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.

NAV Historical Prices

Date	Net Asset Value

Portfolio

Type	Assets
Investment Grade Corporate
ABS
U.S. Government Related
Bank Loans
High Yield Corporate
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 06/30/2017

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

Portfolio Details as of 06/30/2017

Total Net Assets: $5.09 M
Number of Issues: 172
Average Coupon: 5.23%
Average Life: 11.9 Years
Average Effective Duration: 7.39 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

Bank of America Corp.	3.824%	01/20/2028	2.6%
U.S. Treasury Note/Bond	1.750%	06/30/2022	2.2%
Citigroup, Inc.	3.887%	01/10/2028	2.1%
NBCUniversal Enterprise, Inc.	5.250%	06/19/2099	2.1%
HBOS plc	6.750%	05/21/2018	2.1%
JPMorgan Chase & Co.	3.782%	02/01/2028	2.0%
Verizon Communications, Inc.	4.400%	11/01/2034	2.0%
Morgan Stanley	3.875%	01/27/2026	1.9%
AT&T, Inc.	6.000%	08/15/2040	1.6%
Hyundai Capital America	2.875%	08/09/2018	1.5%

% of Total Assets			20.1%

Holding	Coupon	Maturity	Assets

Bank of America Corp.	3.824%	01/20/2028	2.7%
Citigroup, Inc.	3.887%	01/10/2028	2.1%
NBCUniversal Enterprise, Inc.	5.250%	06/19/2099	2.1%
HBOS plc	6.750%	05/21/2018	2.1%
JPMorgan Chase & Co.	3.782%	02/01/2028	2.1%
Verizon Communications, Inc.	4.400%	11/01/2034	2.0%
Morgan Stanley	3.875%	01/27/2026	1.9%
AT&T, Inc.	6.000%	08/15/2040	1.6%
Access Midstream Partners L.P.	4.875%	05/15/2023	1.5%
Hyundai Capital America	2.875%	08/09/2018	1.5%
Anheuser-Busch InBev Worldwide, Inc.	8.200%	01/15/2039	1.4%
Santander Drive Auto Receivables Trust 2016-1	4.020%	04/15/2022	1.3%
Life Technologies Corp.	6.000%	03/01/2020	1.2%
HSBC Finance Corp.	6.676%	01/15/2021	1.2%
Goldman Sachs Group, Inc.	6.750%	10/01/2037	1.2%
MPLX L.P.	5.500%	02/15/2023	1.1%
Tennessee Gas Pipeline Co.	8.375%	06/15/2032	1.1%
Magellan Midstream Partners L.P.	6.400%	07/15/2018	1.1%
Charter Communications Operating LLC	6.384%	10/23/2035	1.1%
Enbridge Energy Partners L.P.	9.875%	03/01/2019	1.0%
Yara International ASA	7.875%	06/11/2019	1.0%
Wells Fargo Capital X	5.950%	12/15/2036	1.0%
CBRE Services, Inc.	5.000%	03/15/2023	0.9%
Amazon.com, Inc.	4.800%	12/05/2034	0.9%
Oracle Corp.	6.125%	07/08/2039	0.9%
Time Warner, Inc.	9.150%	02/01/2023	0.9%
Burlington Northern Santa Fe LLC	6.150%	05/01/2037	0.9%
Macquarie Bank Ltd.	6.625%	04/07/2021	0.9%
Select Income REIT	2.850%	02/01/2018	0.9%
Ford Motor Co.	7.450%	07/16/2031	0.9%
Westlake Chemical Corp.	4.625%	02/15/2021	0.8%
Dell International LLC / EMC Corp	6.020%	06/15/2026	0.8%
E*TRADE Financial Corp.	4.625%	09/15/2023	0.8%
DDR Corp.	7.875%	09/01/2020	0.8%
Energy Transfer Partners L.P.	7.500%	07/01/2038	0.8%
Air Lease Corp.	2.125%	01/15/2018	0.8%
Buckeye Partners L.P.	2.650%	11/15/2018	0.8%
Drive Auto Receivables Trust	2.560%	06/15/2020	0.8%
SL Green Realty Corp.	7.750%	03/15/2020	0.8%
Toronto-Dominion Bank	3.625%	09/15/2031	0.8%
Teachers Insurance & Annuity Association of Americ	4.900%	09/15/2044	0.8%
Duqesne Light Holdings, Inc.	6.400%	09/15/2020	0.8%
Entergy Arkansas, Inc.	4.950%	12/15/2044	0.8%
Exelon Generation Co. LLC	5.600%	06/15/2042	0.7%
Sabine Pass Liquefaction LLC	5.875%	06/30/2026	0.7%
International Lease Finance Corp.	8.250%	12/15/2020	0.7%
E. On International Finance BV	5.800%	04/30/2018	0.7%
Universal Health Services, Inc.	3.750%	08/01/2019	0.7%
Noble Energy, Inc.	5.625%	05/01/2021	0.7%
GE Capital Trust I	6.375%	11/15/2067	0.7%
General Motors Co.	6.600%	04/01/2036	0.7%
Shire Acquisitions Investments Ireland Designated	2.400%	09/23/2021	0.7%
21st Century Fox America, Inc.	6.900%	08/15/2039	0.7%
Shell International Finance BV	6.375%	12/15/2038	0.7%
Dominion Resources, Inc.	7.000%	06/15/2038	0.7%
Synovus Financial Corp.	7.875%	02/15/2019	0.7%
Kerr-McGee Corp.	7.875%	09/15/2031	0.7%
Kraft Heinz Foods Co.	6.875%	01/26/2039	0.6%
PSEG Power LLC	5.125%	04/15/2020	0.6%
Helmerich & Payne International Drilling Co.	4.650%	03/15/2025	0.6%
Lincoln National Corp.	6.300%	10/09/2037	0.6%
Mylan, Inc.	3.000%	12/15/2018	0.6%
National Oilwell Varco, Inc.	3.950%	12/01/2042	0.6%
Microsoft Corp.	3.500%	02/12/2035	0.6%
Enterprise Products Operating LLC	4.877%	08/01/2066	0.6%
Pfizer, Inc.	7.200%	03/15/2039	0.6%
FMG Finance Pty Ltd.	9.750%	03/01/2022	0.6%
Amgen, Inc.	6.400%	02/01/2039	0.6%
U.S. Treasury Note/Bond	1.750%	05/31/2022	0.6%
ConocoPhillips Canada Funding Co I	5.950%	10/15/2036	0.6%
ITC Holdings Corp.	5.500%	01/15/2020	0.5%
Medtronic, Inc.	4.375%	03/15/2035	0.5%
Colonial Pipeline Co.	7.630%	04/15/2032	0.5%
Johnson Controls International plc	5.000%	03/30/2020	0.5%
Home Depot USA, Inc.	5.875%	12/16/2036	0.5%
AbbVie, Inc.	4.300%	05/14/2036	0.5%
Halliburton Co.	6.700%	09/15/2038	0.5%
Westpac Banking Corp.	4.322%	11/23/2031	0.5%
Synchrony Financial	3.000%	08/15/2019	0.5%
Piedmont Natural Gas Co., Inc.	4.100%	09/18/2034	0.5%
Ford Credit Floorplan Master Owner Trust A	2.390%	08/15/2022	0.5%
BAT International Finance plc	2.125%	06/07/2017	0.5%
Kennametal, Inc.	2.650%	11/01/2019	0.5%
McDonald's Corp.	6.300%	10/15/2037	0.5%
Discover Financial Services	4.100%	02/09/2027	0.5%
Abbott Laboratories	4.750%	11/30/2036	0.5%
Federal National Mortgage Assoc.	6.625%	11/15/2030	0.5%
Neuberger Berman Group LLC	4.500%	03/15/2027	0.5%
XLIT Ltd.	6.250%	05/15/2027	0.5%
TransCanada Pipelines Ltd.	7.625%	01/15/2039	0.5%
Trans-Allegheny Interstate Line Co.	3.850%	06/01/2025	0.5%
HCP, Inc.	3.400%	02/01/2025	0.5%
Protective Life Corp.	8.450%	10/15/2039	0.4%
ARC Properties Operating Partnership L.P.	4.875%	06/01/2026	0.4%
PPL Corp.	5.200%	07/15/2041	0.4%
Berkshire Hathaway Energy Co.	6.500%	09/15/2037	0.4%
EPR Properties	4.750%	12/15/2026	0.4%
Actavis Funding SCS	4.550%	03/15/2035	0.4%
Trimble Navigation Ltd.	4.750%	12/01/2024	0.4%
Santander UK plc	7.950%	10/26/2029	0.4%
OM Asset Management plc	4.800%	07/27/2026	0.4%
American Credit Acceptance Receivables Trust 2015-	4.840%	10/12/2021	0.4%
Florida Gas Transmission Co., LLC	4.350%	07/15/2025	0.4%
Drive Auto Receivables Trust	4.160%	05/15/2024	0.4%
Unum Group	5.750%	08/15/2042	0.4%
Seminole Tribe of Florida	3.397%	04/29/2020	0.4%
Enterprise Products Operating LLC	7.550%	04/15/2038	0.4%
Gilead Sciences, Inc.	4.600%	09/01/2035	0.4%
Altria Group, Inc.	5.375%	01/31/2044	0.4%
Apache Corp.	6.000%	01/15/2037	0.4%
Express Scripts Holding Co.	6.125%	11/15/2041	0.4%
Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.875%	01/15/2027	0.3%
Aquarion Co.	4.000%	08/15/2024	0.3%
Healthcare Realty Trust, Inc.	3.875%	05/01/2025	0.3%
Physicians Realty L.P.	4.300%	03/15/2027	0.3%
Glencore Finance Canada Ltd.	6.000%	11/15/2041	0.3%
Apple, Inc.	4.450%	05/06/2044	0.3%
Brixmor Operating Partnership L.P.	3.850%	02/01/2025	0.3%
Marriott International, Inc.	4.500%	10/01/2034	0.3%
LG&E and KU Energy LLC	3.750%	11/15/2020	0.3%
Alexandria Real Estate Equities, Inc.	3.950%	01/15/2028	0.3%
Orange S.A.	9.000%	03/01/2031	0.3%
Celgene Corp.	4.625%	05/15/2044	0.3%
Walgreen Co.	4.500%	11/18/2034	0.3%
Canadian Natural Resources Ltd.	4.950%	06/01/2047	0.3%
American International Group, Inc.	4.700%	07/10/2035	0.3%
Las Vegas Sands LLC	3.050%	03/29/2024	0.3%
Valero Energy Corp.	10.500%	03/15/2039	0.3%
Valmont Industries, Inc.	5.250%	10/01/2054	0.3%
Appalachian Power Co.	7.000%	04/01/2038	0.3%
CSX Corp.	6.000%	10/01/2036	0.3%
M&T Bank Corp.	5.125%	12/31/2099	0.3%
DDR Corp.	4.700%	06/01/2027	0.3%
Barrick PD Australia Finance Pty Ltd.	5.950%	10/15/2039	0.3%
Hanover Insurance Group, Inc.	4.500%	04/15/2026	0.3%
Tampa Electric Co.	6.150%	05/15/2037	0.2%
Applied Materials, Inc.	3.300%	04/01/2027	0.2%
Great Plains Energy, Inc.	3.900%	04/01/2027	0.2%
Willis North America, Inc.	7.000%	09/29/2019	0.2%
Expedia, Inc.	5.000%	02/15/2026	0.2%
Life Technologies Corp.	5.000%	01/15/2021	0.2%
International Paper Co.	7.300%	11/15/2039	0.2%
Northwell Healthcare, Inc.	3.979%	11/01/2046	0.2%
Cleco Corp.	3.743%	05/01/2026	0.2%
Petroleos Mexicanos	4.500%	01/23/2026	0.2%
U.S. Treasury Note/Bond	2.000%	11/15/2026	0.2%
Embraer SA	5.150%	06/15/2022	0.2%
Oceaneering International, Inc.	4.650%	11/15/2024	0.2%
Goldcorp, Inc.	5.450%	06/09/2044	0.2%
Black Hills Corp.	4.200%	09/15/2046	0.2%
Discovery Communications LLC	6.350%	06/01/2040	0.2%
Dow Chemical Co.	9.400%	05/15/2039	0.2%
Xilinx, Inc.	2.950%	06/01/2024	0.2%
Cenovus Energy, Inc.	5.400%	06/15/2047	0.1%
Cox Communications, Inc.	8.375%	03/01/2039	0.1%
Ohio Edison Co.	8.250%	10/15/2038	0.1%
U.S. Treasury Note/Bond	1.750%	03/31/2022	0.1%
CMS Energy Corp.	6.250%	02/01/2020	0.1%
Digital Realty Trust L.P.	5.875%	02/01/2020	0.1%
Southern Copper Corp.	5.875%	04/23/2045	0.1%
ONEOK Partners L.P.	3.200%	09/15/2018	0.1%
Grupo Televisa SAB	6.625%	01/15/2040	0.1%
Kaiser Foundation Hospitals	4.150%	05/01/2047	0.1%
SL Green Realty Corp.	5.000%	08/15/2018	0.0%
NYU Hospitals Center	4.368%	07/01/2047	0.0%
US 2YR NOTE (CBT) SEP17	0.000%	10/04/2017	0.0%
US 10YR NOTE (CBT)SEP17	0.000%	09/29/2017	0.0%
US 5YR NOTE (CBT) SEP17	0.000%	10/04/2017	0.0%

Fees & Expenses

Sales Charge Schedule as of 07/21/2017

	Sales Charge	Dealer's Concession	Prices at Breakpoint
Less than $100,000	2.25%	2.00%	$10.35
$100,000 to $249,999	1.75%	1.50%	$10.30
$250,000 to $499,999	1.25%	1.00%	$10.25
$500,000 to $999,999	0.00%	1.00%	$10.12
$1,000,000 to $5,000,000	0.00%	1.00%	$10.12

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 may combine the value of Class A, B, C, F, and P shares of any eligible fund currently owned with a new purchase of Class A shares of any eligible fund in order to reduce the sales charge on the new purchase. Class I, R2, and R3 share holdings may not be combined for these purposes.

To the extent that your financial intermediary is able to do so, the value of Class A, B, C, F, and P shares of eligible funds determined for the purpose of reducing the sales charge of a new purchase under the Rights of Accumulation will be calculated at the higher of: 1) the aggregate current maximum offering price of your existing Class A, B, C, F, and P shares of eligible funds or 2) the aggregate amount you invested in such shares (including dividend reinvestments but excluding capital appreciation) less any withdrawals. You should retain any information and account records necessary to substantiate the historical amounts you and any related purchasers have invested in eligible funds. You must inform a fund and/or your financial intermediary at the time of purchase if you believe your purchase qualifies for a reduced sales charge; you may be requested to provide documentation of your holdings in order to verify your eligibility. If you do not do so, you may not receive all sales charge reductions for which you are eligible.
Letter of Intention — In order to reduce your Class A front-end sales charge, a purchaser may combine purchases of Class A, B, C, F, and P shares of any eligible fund the purchaser intends to make over the next 13 months in determining the applicable sales charge. The 13-month Letter of Intention period commences on the day that the Letter of Intention is received by a fund, and the purchaser must tell a fund that later purchases are subject to the Letter of Intention. Purchases submitted prior to the date the Letter of Intention is received by a fund are not counted toward the sales charge reduction. Current holdings under Rights of Accumulation may be included in a Letter of Intention in order to reduce the sales charge for purchases during the 13-month period covered by the Letter of Intention. Shares purchased through reinvestment of dividends or distributions are not included. Class I, R2, and R3 share holdings may not be combined for these purposes. Class A shares valued at 5% of the amount of intended purchases are escrowed and may be redeemed to cover the additional sales charges payable if the intended purchases under the Letter of Intention is not completed. The Letter of Intention is neither a binding obligation on you to buy nor on a fund to sell any or all of an intended purchase amount.

Purchaser — A purchaser includes: 1) an individual; 2) an individual, his or her spouse, and children under the age of 21; 3) retirement and benefit plans, including a 401(k) plan, profit-sharing plan, money purchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, nonprofit organization, school district, or church to which employer contributions are made, as well as SIMPLE IRA plans and SEP-IRA plans; or 4) a trustee or other fiduciary purchasing shares for a single trust, estate, or single fiduciary account. An individual may include under item (1) his or her holdings in eligible funds as described above in IRAs, as a sole participant of a retirement and benefit plan sponsored by the individual's business, and as a participant in a 403(b) plan to which only pretax salary deferrals are made. An individual and his or her spouse may include under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit plans sponsored 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 single bank 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 06/30/2017

Expense ratio details, Click here.

Fund Documents

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	Summary Prospectus Publish Date:11/03/2015
n/a	Statutory Prospectus Publish Date:11/03/2015
n/a	Prospectus (XBRL) Publish Date:11/03/2015
	SAI Publish Date:11/03/2015
	Fact Sheet Publish Date:11/03/2015
	Fact Sheet 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.

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 and 12-Month Dividend 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 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 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.

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 07/21/2017

30-Day Standardized Yield as of 06/30/2017

Expense Ratioas of 06/30/2017

Fund Basicsas of 06/30/2017

CREDIT QUALITY DISTRIBUTION as of 06/30/2017 View Portfolio

INVESTMENT TEAM

Your Representive

Performance

Performance

Dividend Yield 1 as of 07/21/2017

30-Day Standardized Yield 2 as of 06/30/2017

Fund Expense Ratio :

Gross 0.87%

Net 0.68%

Fund Expense Ratio :

Gross 0.87%

Net 0.68%

Fund Expense Ratio :

Gross 0.87%

Net 0.68%

Fund Expense Ratio :

Gross 0.87%

Net 0.68%

NAV Historical Prices

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 06/30/2017

Portfolio Details as of 06/30/2017

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 07/21/2017

EXPENSE RATIOas of 06/30/2017

Register For a LordAbbett.com Account
Using Your Email Address.

Dividend Yield ¹ as of 07/21/2017

30-Day Standardized Yield ² as of 06/30/2017