LCDRX | Emerging Markets Corporate Debt Fund Class R3 | Lord Abbett
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Emerging Markets Corporate Debt Fund

Summary

Summary

What is the Emerging Markets Corporate Debt Fund?

The Fund seeks to deliver current income and long term growth of capital by investing primarily in emerging markets corporate debt securities.

DOLLAR DENOMINATED

Provides an allocation to global investment opportunities without the currency volatility of local debt.

HISTORICALLY HIGHER YIELDS

EM Corporate Debt has provided higher yields than comparably rated U.S. corporate bonds.

STRONG PERFORMANCE

Has provided solid performance, with low expenses, relative to peers.

Yield

Dividend Yield 1 as of 10/30/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.70% 3.13%

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

2.91%

Fund Basicsas of 09/30/2020

Total Net Assets
$57.75 M
Inception Date
12/31/2013
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.92%
Fund Net Expense Ratio
1.35%
Number of Holdings
212

Fund Expense Ratio :

Gross 1.92%

Net 1.35%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2013
w/o sales charge 0.03% 2.53% 3.27% 5.44% - 5.31%
Lipper Category Avg. Emerging Mrkts Hard Currency Debt Funds -1.48% 1.39% 2.04% 5.37% - -
J.P. Morgan CEMBI Broad Diversified Index 2.58% 4.85% 4.73% 6.29% - 5.51%

Fund Expense Ratio :

Gross 1.92%

Net 1.35%

Fund Expense Ratio :

Gross 1.92%

Net 1.35%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2013
w/o sales charge 0.03% 2.53% 3.27% 5.44% - 5.31%
Lipper Category Avg. Emerging Mrkts Hard Currency Debt Funds -1.48% 1.39% 2.04% 5.37% - -
J.P. Morgan CEMBI Broad Diversified Index 2.58% 4.85% 4.73% 6.29% - 5.51%

Fund Expense Ratio :

Gross 1.92%

Net 1.35%

RELATED CONTENT

Emerging-Market Credit Gets a Boost
August 5, 2019

Easier financial conditions have been almost always positive for emerging-market debt, especially when interest-rate differentials are growing larger between advanced and emerging markets.

Country Assets
China
Brazil
United Arab Emirates
Turkey
Mexico
India
Colombia
Russia
Chile
Peru
Saudi Arabia
Israel
Panama
Ukraine
South Korea
United States
Argentina
Thailand
Qatar
Hong Kong
Macau
South Africa
Indonesia
Kuwait
Zambia
Vietnam
Kazakhstan
Paraguay
Singapore
Nigeria
Spain
Morocco
Netherlands
Luxembourg
United Kingdom
Mongolia
Bahrain
Tanzania
Region Assets
Asia
Latin America
Europe
Middle East/Africa
North America

Credit Quality Distribution as of 09/30/2020 View Portfolio

Rating Assets
AA
A
BBB
<BBB
Not Rated

INVESTMENT TEAM

John J. Morton
John J. Morton, CFA

Portfolio Manager

35 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Director of Taxable Fixed Income

19 Years of Industry Experience

Mila Skulkina
Mila Skulkina, CFA

Portfolio Manager

19 Years of Industry Experience

Supported By 63 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 10/30/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.70% 3.13%

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

  Subsidized5 Un-Subsidized6
w/o sales charge 2.91% 2.91%

Fund Expense Ratio :

Gross 1.92%

Net 1.35%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2013
w/o sales charge 0.03% 2.53% 3.27% 5.44% - 5.31%
Lipper Category Avg. Emerging Mrkts Hard Currency Debt Funds -1.48% 1.39% 2.04% 5.37% - -
J.P. Morgan CEMBI Broad Diversified Index 2.58% 4.85% 4.73% 6.29% - 5.51%

Fund Expense Ratio :

Gross 1.92%

Net 1.35%

Fund Expense Ratio :

Gross 1.92%

Net 1.35%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2013
w/o sales charge 0.03% 2.53% 3.27% 5.44% - 5.31%
Lipper Category Avg. Emerging Mrkts Hard Currency Debt Funds -1.48% 1.39% 2.04% 5.37% - -
J.P. Morgan CEMBI Broad Diversified Index 2.58% 4.85% 4.73% 6.29% - 5.51%

Fund Expense Ratio :

Gross 1.92%

Net 1.35%

Year Fund Returns J.P. Morgan CEMBI Broad Diversified Index
2019 13.31% 13.09%
2018 -3.53% -1.65%
2017 8.84% 7.96%
2016 9.18% 9.65%
2015 1.98% 1.30%
2014 6.97% 4.96%
2013 0.01% -0.60%
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -13.11% 12.02% 2.77% - 0.48%
2019 5.41% 3.52% 1.31% 2.49% 13.31%
2018 -1.51% -2.91% 1.63% -0.73% -3.53%
2017 3.41% 1.75% 2.71% 0.72% 8.84%
2016 4.43% 3.65% 2.86% -1.94% 9.18%
2015 2.19% 1.02% -1.52% 0.32% 1.98%
2014 2.80% 4.81% 0.35% -1.07% 6.97%
2013 - - - - 0.01%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
High Yield Corporate
Sovereign
U.S. Government Related
Other
Cash
Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

Credit Quality Distribution as of 09/30/2020

Rating Assets
AA
A
BBB
<BBB
Not Rated

Portfolio Positioningas of 06/30/2020

  • Within China, government support is focused on alleviating financial pressure on companies via targeted tax cuts and preferential lending. Additionally, the government is seeking to incentivize personal consumption by increasing subsidies and relaxing certain purchase restrictions.
  • We believe the coronavirus outbreak’s implication to emerging markets countries in Asia depends on their respective exposures to natural resources exports, tourism, and the local COVID-19 situations.
  • EM economies felt the full weight of a risk sell-off when the COVID-19 pandemic began in earnest. EM currencies depreciated sharply; however, inflation rates in Emerging Markets have generally remained low and within the target range of central banks. We expect inflation rates to fall in reflection of the contractionary economic effects of the pandemic and lower commodity prices thus giving central banks rooms to ease.

Portfolio Details as of 09/30/2020

Total Net Assets
$57.75 M
Number of Issues
212
Average Coupon
5.31%
Average Life
8.95 Years
Average Maturity
8.81 Years
Average Modified Duration
5.08 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 10/30/2020
$0.429
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 10/31/2020 $0.04593 $15.12
Daily Daily 09/30/2020 $0.04658 $15.10
Daily Daily 08/31/2020 $0.04603 $15.29
Daily Daily 07/31/2020 $0.04831 $15.18
Daily Daily 06/30/2020 $0.04788 $14.83
Daily Daily 05/31/2020 $0.04566 $14.48
Daily Daily 04/30/2020 $0.04933 $13.93
Daily Daily 03/31/2020 $0.05037 $13.37
Daily Daily 02/29/2020 $0.04731 $15.49
Daily Daily 01/31/2020 $0.04825 $15.64

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

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
07/30/2018 07/31/2018 - $0.0292 $0.0292 $14.77

Upcoming Capital Gain Distribution

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
12/17/2020 12/18/2020

Fees & Expenses

Fees & Expenses

Expense Ratioas of 09/30/2020

Fund Gross Expense Ratio Fund Net Expense Ratio
1.92% 1.35%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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SAI
Publish Date:11/03/2015
Annual Report
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Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
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Publish Date:11/03/2015

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Class R3 - The performance quotations for Class R3 reflect the following methods of calculation: (a) for periods prior to the inception date for Class R3, a restated figure is used based on the Fund's Class A performance, excluding the effect of Class A's maximum sales charge (which does not apply to Class R3, adjusted to reflect the Rule 12b-1 rate differential between Class A and Class R3, which has a higher 12b-1 fee than Class A; and (b) for periods after the inception date for Class R3, actual Class R3 performance is used reflecting all charges and fees applicable to Class R3 shares. Hypothetical performance data for Class R3, as measured from since inception of the Fund using the methodology described above, is not available if the Class A inception date is equal or greater than ten years old. Please refer to the Class R3 performance information for the inception date for Class R3. Please refer to the Class A performance information for the inception date for Class A.

Class R3 shares are only offered to certain eligible investors.  For additional information, see the Fund’s current prospectus.

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