Emerging Markets Corporate Debt Fund
Daily price w/o sales charge as of 09/23/2016
$15.58
$0.00
YTD Returns w/o sales charge as of 09/23/2016
11.36%
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 long term growth of capital by investing primarily in emerging markets corporate debt securities.
Yield
Dividend Yield 1 as of 09/23/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 4.07% | 3.42% |
| w/ sales charge | 3.98% | 3.34% |
30-Day Standardized Yield 2 as of 08/31/2016
| Subsidized5 | Un-Subsidized6 | |
|---|---|---|
| w/o sales charge | 3.05% | 2.45% |
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 takes into account a contractual management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through 04/30/2017. 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 08/31/2016
- Total Net Assets
- $36.93 M
- Inception Date
- 12/31/2013
- Dividend Frequency
- Monthly (Daily Accrual)
- Number of Holdings
- 190
- CUSIP
- 543908677
- Minimum Initial Investment
- $1,000+
Expense ratio details, Click here.
The net expense ratio takes into account a contractual management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through 04/30/2017. 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 Expense Ratio :
Gross 1.70%
Net 1.05%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 12/31/2013 |
|---|
| w/o sales charge | 11.29% | 10.98% | - | - | - | 7.39% |
| Lipper Category Avg. Emerging Mrkts Hard Currency Debt Funds | 13.07% | 11.42% | - | - | - | - |
| J.P. Morgan CEMBI Broad Diversified Index | 10.95% | 10.13% | - | - | - | 6.39% |
| w/ sales charge | 8.80% | 8.47% | - | - | - | 6.49% |
Fund Expense Ratio :
Gross 1.70%
Net 1.05%
Fund Expense Ratio :
Gross 1.70%
Net 1.05%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 12/31/2013 |
|---|
| w/o sales charge | 8.12% | 6.70% | - | - | - | 6.67% |
| Lipper Category Avg. Emerging Mrkts Hard Currency Debt Funds | 9.43% | 4.98% | - | - | - | - |
| J.P. Morgan CEMBI Broad Diversified Index | 7.80% | 5.29% | - | - | - | 5.62% |
| w/ sales charge | 5.71% | 4.33% | - | - | - | 5.71% |
Fund Expense Ratio :
Gross 1.70%
Net 1.05%
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.
RELATED CONTENT
Four Reasons to Revisit Emerging-Market Corporate Bonds
After a period of volatility, we think emerging-market (EM) corporate bonds deserve a second look from investors. Here’s why.
| Country | Assets |
|---|---|
| Brazil | |
| China | |
| Russia | |
| Mexico | |
| India | |
| Hong Kong | |
| UAE | |
| Chile | |
| Turkey | |
| Argentina | |
| South Korea | |
| Thailand | |
| Peru | |
| Colombia | |
| Qatar | |
| United States | |
| Indonesia | |
| Singapore | |
| Jamaica | |
| Israel | |
| Luxembourg | |
| South Africa | |
| Kazakhstan | |
| Paraguay | |
| Malaysia | |
| Morocco | |
| Panama | |
| Saudi Arabia | |
| Netherlands | |
| Barbados | |
| Dominican Republic | |
| Guatemala | |
| Macau | |
| Sri Lanka | |
| Serbia | |
| Canada | |
| Puerto Rico |
Region classifications of countries are defined by Lord Abbett and may not be consistent with the MSCI region definitions. Country classifications of securities held within the universe of MSCI indexes are defined by MSCI. Country classifications of securities held by the portfolio only, and not included within the universe of MSCI indexes, are defined by Lord Abbett.
| Region | Assets |
|---|---|
| Latin America | |
| Asia Pacific | |
| Europe | |
| Middle East\Africa | |
| United States | |
| Other |
Credit Quality Distribution as of 08/31/2016 View Portfolio
| Rating | Assets |
|---|---|
| AA | |
| A | |
| BBB | |
| BB | |
| B | |
| <B | |
| 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.
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Performance
Performance
Dividend Yield 1 as of 09/23/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 4.07% | 3.42% |
| w/ sales charge | 3.98% | 3.34% |
30-Day Standardized Yield 2 as of 08/31/2016
| Subsidized5 | Un-Subsidized6 | |
|---|---|---|
| w/o sales charge | 3.05% | 2.45% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Fund Expense Ratio :
Gross 1.70%
Net 1.05%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 12/31/2013 |
|---|
| w/o sales charge | 11.29% | 10.98% | - | - | - | 7.39% |
| Lipper Category Avg. Emerging Mrkts Hard Currency Debt Funds | 13.07% | 11.42% | - | - | - | - |
| J.P. Morgan CEMBI Broad Diversified Index | 10.95% | 10.13% | - | - | - | 6.39% |
| w/ sales charge | 8.80% | 8.47% | - | - | - | 6.49% |
Fund Expense Ratio :
Gross 1.70%
Net 1.05%
Fund Expense Ratio :
Gross 1.70%
Net 1.05%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 12/31/2013 |
|---|
| w/o sales charge | 8.12% | 6.70% | - | - | - | 6.67% |
| Lipper Category Avg. Emerging Mrkts Hard Currency Debt Funds | 9.43% | 4.98% | - | - | - | - |
| J.P. Morgan CEMBI Broad Diversified Index | 7.80% | 5.29% | - | - | - | 5.62% |
| w/ sales charge | 5.71% | 4.33% | - | - | - | 5.71% |
Fund Expense Ratio :
Gross 1.70%
Net 1.05%
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.
Best returns
| Durations | Fund Returns | Blended Index |
|---|
| 3-Mo | 4.76 | 3.46 |
| 1-Yr | 7.47 | 5.25 |
Worst returns
| Durations | Fund Returns | Blended Index |
|---|
| 3-Mo | -1.2 | -1.43 |
| 1-Yr | 6.13 | 4.52 |
Best & Worst returns reflect a cumulative return for the three-month and one-year periods.
| Year | Fund Returns | J.P. Morgan CEMBI Broad Diversified Index |
|---|
| 2015 | 1.77% | 1.30% |
| 2014 | 6.76% | 4.96% |
| 2013 | 0.01% | -0.60% |
| Year | Q1 | Q2 | Q3 | Q4 | Yearly Returns |
|---|
| 2016 | 4.37% | 3.59% | - | - | 11.36% |
| 2015 | 2.14% | 0.96% | -1.58% | 0.27% | 1.77% |
| 2014 | 2.75% | 4.76% | 0.30% | -1.12% | 6.76% |
| 2013 | - | - | - | - | 0.01% |
Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.
NAV Historical Prices
| Date | Net Asset Value |
|---|
Portfolio
Portfolio
| Rating | Assets |
|---|---|
| Investment Grade Corporate | |
| High Yield Corporate | |
| Sovereign | |
| 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 |
|---|---|
| AA | |
| A | |
| BBB | |
| BB | |
| B | |
| <B | |
| 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
- $36.93 M
- Number of Issues
- 190
- Average Coupon
- 5.18%
- Average Life
- 7.1 Years
- Average Maturity
- 7.1 Years
- Average Modified Duration
- 5.3 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 Life - Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security. Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.
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.
Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.
| Holding | Coupon | Maturity | Assets |
|---|
| YPF S.A. | 8.500% | 07/28/2025 | 1.2% |
| Alibaba Group Holding Ltd. | 3.600% | 11/28/2024 | 1.1% |
| Lukoil International Finance BV | 4.563% | 04/24/2023 | 1.1% |
| Arcor | 6.000% | 07/06/2023 | 0.9% |
| Ecopetrol S.A. | 4.125% | 01/16/2025 | 0.8% |
| Petrobras Global Finance BV | 4.375% | 05/20/2023 | 0.8% |
| Digicel Ltd. | 7.000% | 02/15/2020 | 0.7% |
| Reliance Industries Ltd. | 4.125% | 01/28/2025 | 0.7% |
| Petrobras Global Finance BV | 3.000% | 01/15/2019 | 0.7% |
| OCP S.A. | 6.875% | 04/25/2044 | 0.6% |
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 |
|---|
| YPF S.A. | 8.500% | 07/28/2025 | 1.1% |
| Lukoil International Finance BV | 4.563% | 04/24/2023 | 1.1% |
| Arcor | 6.000% | 07/06/2023 | 0.9% |
| Ecopetrol S.A. | 4.125% | 01/16/2025 | 0.8% |
| Digicel Ltd. | 7.000% | 02/15/2020 | 0.7% |
| Reliance Industries Ltd. | 4.125% | 01/28/2025 | 0.7% |
| Petrobras Global Finance BV | 4.375% | 05/20/2023 | 0.7% |
| Petrobras Global Finance BV | 3.000% | 01/15/2019 | 0.7% |
| Majapahit Holding BV | 8.000% | 08/07/2019 | 0.6% |
| Shimao Property Holdings Ltd. | 8.375% | 02/10/2022 | 0.6% |
| Bangkok Bank Public Co. Ltd. | 5.000% | 10/03/2023 | 0.6% |
| Alfa Bank OJSC Via Alfa Bond Issuance plc | 7.750% | 04/28/2021 | 0.6% |
| DP World Ltd. | 6.850% | 07/02/2037 | 0.6% |
| Dolphin Energy Ltd. | 5.500% | 12/15/2021 | 0.6% |
| ALROSA Finance S.A. | 7.750% | 11/03/2020 | 0.6% |
| SingTel Group Treasury Pte Ltd. | 4.500% | 09/08/2021 | 0.6% |
| Cemex, S.A.B. de C.V. | 7.750% | 04/16/2026 | 0.6% |
| Cemex Finance LLC | 9.375% | 10/12/2022 | 0.6% |
| ICICI Bank Ltd. | 5.750% | 11/16/2020 | 0.6% |
| MMC Norilsk Nickel OJSC via MMC Finance Ltd. | 6.625% | 10/14/2022 | 0.6% |
| BBVA Banco Continental S.A. | 5.000% | 08/26/2022 | 0.6% |
| OCP S.A. | 6.875% | 04/25/2044 | 0.6% |
| Embotelladora Andina S.A. | 5.000% | 10/01/2023 | 0.6% |
| Sberbank of Russia Via SB Capital S.A. | 6.125% | 02/07/2022 | 0.6% |
| Thai Oil PCL | 4.875% | 01/23/2043 | 0.6% |
| Fresnillo plc | 5.500% | 11/13/2023 | 0.6% |
| Bharti Airtel International Netherlands BV | 5.125% | 03/11/2023 | 0.6% |
| KWG Property Holding Ltd. | 8.625% | 02/05/2020 | 0.6% |
| PTT Global Chemical pcl | 4.250% | 09/19/2022 | 0.6% |
| Autoridad del Canal de Panama | 4.950% | 07/29/2035 | 0.6% |
| Qatari Diar Finance QSC | 5.000% | 07/21/2020 | 0.6% |
| Israel Electric Corp. | 5.000% | 11/12/2024 | 0.6% |
| Mexichem SAB de CV | 4.875% | 09/19/2022 | 0.6% |
| Qtel International Finance Ltd. | 4.500% | 01/31/2043 | 0.6% |
| Columbus International, Inc. | 7.375% | 03/30/2021 | 0.6% |
| Gruposura Finance | 5.500% | 04/29/2026 | 0.6% |
| HPHT Finance 15 Ltd. | 2.875% | 03/17/2020 | 0.6% |
| Poly Real Estate Finance Ltd. | 5.250% | 04/25/2019 | 0.6% |
| Aeropuertos Dominicanos Siglo XXI SA | 9.750% | 11/13/2019 | 0.6% |
| Korea Hydro & Nuclear Power Co., Ltd. | 3.250% | 06/15/2025 | 0.6% |
| Kazakhstan Temir Zholy Finance BV | 6.375% | 10/06/2020 | 0.6% |
| Teva Pharmaceutical Finance Co. B.V. | 3.650% | 11/10/2021 | 0.6% |
| Office Depot de Mexico S.A. de C.V. | 6.875% | 09/20/2020 | 0.6% |
| China Railway Resources Huitung Ltd. | 3.850% | 02/05/2023 | 0.6% |
| Braskem Finance Ltd. | 6.450% | 02/03/2024 | 0.6% |
| Vnesheconombank Via VEB Finance plc | 6.902% | 07/09/2020 | 0.6% |
| Banco de Credito e Inversiones | 4.000% | 02/11/2023 | 0.6% |
| PTT PCL | 4.500% | 10/25/2042 | 0.6% |
| Link Finance Cayman 2009 Ltd. | 3.600% | 09/03/2024 | 0.6% |
| CNOOC Finance 2012 Ltd. | 3.875% | 05/02/2022 | 0.6% |
| E.CL SA | 4.500% | 01/29/2025 | 0.6% |
| GTH Finance BV | 7.250% | 04/26/2023 | 0.6% |
| Cencosud SA | 4.875% | 01/20/2023 | 0.6% |
| Hutchison Whampoa Ltd. | 3.625% | 10/31/2024 | 0.6% |
| Myriad International Holdings BV | 5.500% | 07/21/2025 | 0.6% |
| SACI Falabella | 4.375% | 01/27/2025 | 0.6% |
| AES Gener SA | 5.000% | 07/14/2025 | 0.6% |
| Woori Bank | 4.750% | 04/30/2024 | 0.6% |
| GNL Quintero SA | 4.634% | 07/31/2029 | 0.6% |
| Star Energy Geothermal Wayang Windu Ltd. | 6.125% | 03/27/2020 | 0.6% |
| China Overseas Finance Cayman V Ltd. | 3.950% | 11/15/2022 | 0.6% |
| Emirates Telecommunications Corp. | 3.500% | 06/18/2024 | 0.6% |
| Delek & Avner Tamar Bond Ltd. | 5.412% | 12/30/2025 | 0.6% |
| Indian Railway Finance Corp. Ltd. | 3.917% | 02/26/2019 | 0.6% |
| Turkiye Garanti Bankasi AS | 6.250% | 04/20/2021 | 0.6% |
| HKT Capital No, 2 Ltd. | 3.625% | 04/02/2025 | 0.6% |
| Sable International Finance Ltd. | 6.875% | 08/01/2022 | 0.6% |
| Mersin Uluslararasi Liman Isletmeciligi AS | 5.875% | 08/12/2020 | 0.6% |
| PTT PCL | 3.375% | 10/25/2022 | 0.6% |
| Grupo Bimbo S.A.B. de C.V. | 3.875% | 06/27/2024 | 0.6% |
| MAF Sukuk Ltd. | 4.500% | 11/03/2025 | 0.6% |
| Central American Bottling Corp. | 6.750% | 02/09/2022 | 0.6% |
| Kallpa Generacion SA | 4.875% | 05/24/2026 | 0.6% |
| AngloGold Ashanti Holdings plc | 5.125% | 08/01/2022 | 0.6% |
| Empresa de Energia de Bogota SA | 6.125% | 11/10/2021 | 0.6% |
| Itau Unibanco Holding SA (Cayman Islands) | 5.500% | 08/06/2022 | 0.6% |
| Baidu, Inc. | 3.500% | 11/28/2022 | 0.6% |
| Banco de Galicia y Buenos Aires | 8.250% | 07/19/2026 | 0.6% |
| Pacific Emerald Pte Ltd. | 9.750% | 07/25/2018 | 0.6% |
| BRF SA | 4.750% | 05/22/2024 | 0.6% |
| Saudi Electricity Global Sukuk Co. 3 | 5.500% | 04/08/2044 | 0.6% |
| GCX Ltd. | 7.000% | 08/01/2019 | 0.6% |
| Telefonica Celular del Paraguay SA | 6.750% | 12/13/2022 | 0.6% |
| Alibaba Group Holding Ltd. | 3.600% | 11/28/2024 | 0.6% |
| PLA Administradora Industrial, S. de R.L. de C.V | 5.250% | 11/10/2022 | 0.6% |
| Tencent Holdings Ltd. | 3.375% | 05/02/2019 | 0.6% |
| KOC Holding AS | 5.250% | 03/15/2023 | 0.6% |
| MTS International Funding Ltd. | 5.000% | 05/30/2023 | 0.6% |
| Swire Properties MTN Financing Ltd. | 2.750% | 03/07/2020 | 0.6% |
| Theta Capital Pte Ltd. | 6.125% | 11/14/2020 | 0.6% |
| CNOOC Finance (2015) U.S.A. LLC | 3.500% | 05/05/2025 | 0.6% |
| Axis Bank Ltd./Dubai | 3.250% | 05/21/2020 | 0.6% |
| Gas Natural de Lima y Callao S.A. | 4.375% | 04/01/2023 | 0.6% |
| MCE Finance Ltd. | 5.000% | 02/15/2021 | 0.6% |
| Grupo Idesa S.A. de C.V. | 7.875% | 12/18/2020 | 0.6% |
| QNB Finance Ltd. | 2.875% | 04/29/2020 | 0.6% |
| VTR Finance B.V. | 6.875% | 01/15/2024 | 0.6% |
| Korea Western Power Co. Ltd. | 2.875% | 10/10/2018 | 0.6% |
| ABJA Investment Co. Pte Ltd. | 5.950% | 07/31/2024 | 0.6% |
| DBS Bank Ltd. | 3.625% | 09/21/2022 | 0.6% |
| Siam Commercial Bank Ltd./Hong Kong | 3.375% | 09/19/2017 | 0.6% |
| Hyundai Capital America | 2.600% | 03/19/2020 | 0.6% |
| Oversea-Chinese Banking Corp. Ltd. | 3.150% | 03/11/2023 | 0.6% |
| Altice Financing S.A. | 7.500% | 05/15/2026 | 0.6% |
| Hyundai Capital Services, Inc. | 2.625% | 09/29/2020 | 0.6% |
| State Bank of India/London | 3.250% | 04/18/2018 | 0.6% |
| EXIM Sukuk Malaysia Bhd | 2.874% | 02/19/2019 | 0.6% |
| ADCB Finance Cayman Ltd. | 2.750% | 09/16/2019 | 0.6% |
| Abu Dhabi National Energy Co. | 3.625% | 01/12/2023 | 0.6% |
| Transportadora de Gas del Peru SA | 4.250% | 04/30/2028 | 0.6% |
| Altice Financing S.A. | 6.625% | 02/15/2023 | 0.6% |
| Korea Exchange Bank | 2.500% | 06/12/2019 | 0.6% |
| Kunlun Energy Co. Ltd. | 2.875% | 05/13/2020 | 0.6% |
| Cosan Luxembourg SA | 7.000% | 01/20/2027 | 0.6% |
| Sinopec Group Overseas Development Ltd. | 2.500% | 04/28/2020 | 0.6% |
| AIA Group Ltd. | 2.250% | 03/11/2019 | 0.6% |
| National Savings Bank | 5.150% | 09/10/2019 | 0.6% |
| Wynn Macau Ltd. | 5.250% | 10/15/2021 | 0.6% |
| Shinhan Bank | 2.250% | 04/15/2020 | 0.6% |
| Greenland Global Investment Ltd. | 4.375% | 07/03/2019 | 0.6% |
| China Oil & Gas Group Ltd. | 5.000% | 05/07/2020 | 0.6% |
| Industrial & Commercial Bank of China Ltd/Dubai | 2.625% | 05/26/2020 | 0.6% |
| Banco de Bogota SA | 5.000% | 01/15/2017 | 0.6% |
| Kosmos Energy Ltd. | 7.875% | 08/01/2021 | 0.6% |
| National Bank of Abu Dhabi | 2.250% | 02/11/2020 | 0.5% |
| ESAL GmbH | 6.250% | 02/05/2023 | 0.5% |
| Industrial Bank of Korea | 2.000% | 04/23/2020 | 0.5% |
| Cia Minera Milpo SAA | 4.625% | 03/28/2023 | 0.5% |
| Turkiye Is Bankasi | 5.000% | 04/30/2020 | 0.5% |
| Bank of India | 3.125% | 05/06/2020 | 0.5% |
| Turkiye Sise ve Cam Fabrikalari AS | 4.250% | 05/09/2020 | 0.5% |
| Klabin Finance S.A. | 5.250% | 07/16/2024 | 0.5% |
| Gazprom OAO Via Gaz Capital SA | 4.950% | 02/06/2028 | 0.5% |
| Tengizchevroil Finance Co International Ltd | 4.000% | 08/15/2026 | 0.5% |
| Rosneft Oil Co. | 4.199% | 03/06/2022 | 0.5% |
| Nakilat, Inc. | 6.267% | 12/31/2033 | 0.5% |
| Votorantim Cimentos S.A. | 7.250% | 04/05/2041 | 0.5% |
| Bahia Sul Holdings GmbH | 5.750% | 07/14/2026 | 0.5% |
| Turkiye Halk Bankasi AS | 4.750% | 02/11/2021 | 0.5% |
| Gazprom Neft OAO Via GPN Capital SA | 4.375% | 09/19/2022 | 0.5% |
| Akbank TAS | 4.000% | 01/24/2020 | 0.5% |
| Cielo S.A. | 3.750% | 11/16/2022 | 0.5% |
| Digicel Ltd. | 6.750% | 03/01/2023 | 0.5% |
| GTL Trade Finance, Inc. | 5.893% | 04/29/2024 | 0.5% |
| Republic of Turkey | 3.250% | 03/23/2023 | 0.5% |
| Republic of Argentina | 8.280% | 12/31/2033 | 0.5% |
| Digicel Group Ltd. | 8.250% | 09/30/2020 | 0.5% |
| Guanay Finance Ltd. | 6.000% | 12/15/2020 | 0.5% |
| Emirates Airline | 4.500% | 02/06/2025 | 0.5% |
| Vale Overseas Ltd. | 4.375% | 01/11/2022 | 0.5% |
| BBVA Bancomer SA | 6.750% | 09/30/2022 | 0.5% |
| BanColombia SA | 5.950% | 06/03/2021 | 0.4% |
| Province of Neuquen | 8.625% | 05/12/2028 | 0.4% |
| Celulosa Arauco y Constitucion SA | 5.000% | 01/21/2021 | 0.4% |
| Banco Regional SAECA | 8.125% | 01/24/2019 | 0.4% |
| Southern Copper Corp. | 5.875% | 04/23/2045 | 0.4% |
| JB y Co SA de CV | 3.750% | 05/13/2025 | 0.4% |
| Cablevision SA/Argentina | 6.500% | 06/15/2021 | 0.4% |
| Banco Inbursa SA Institucion de Banca Multiple | 4.125% | 06/06/2024 | 0.4% |
| Hutchison Whampoa International 03/33 Ltd. | 7.450% | 11/24/2033 | 0.4% |
| YPF S.A. | 8.500% | 03/23/2021 | 0.4% |
| Grupo Televisa SAB | 6.625% | 01/15/2040 | 0.4% |
| Gazprom OAO Via Gaz Capital SA | 6.510% | 03/07/2022 | 0.4% |
| Ras Laffan Liquefied Natural Gas Co., Ltd. | 5.298% | 09/30/2020 | 0.4% |
| Southern Copper Corp. | 3.500% | 11/08/2022 | 0.3% |
| Petrobras Global Finance BV | 6.250% | 03/17/2024 | 0.3% |
| Dubai Electricity & Wtr Auth | 7.375% | 10/21/2020 | 0.3% |
| United Group BV | 7.875% | 11/15/2020 | 0.3% |
| Petronas Capital Ltd. | 5.250% | 08/12/2019 | 0.3% |
| Bangkok Bank Public Co. Ltd. | 4.800% | 10/18/2020 | 0.3% |
| IRSA Propiedades Comerciales SA | 8.750% | 03/23/2023 | 0.3% |
| SUAM Finance B.V. | 4.875% | 04/17/2024 | 0.3% |
| InRetail Consumer | 5.250% | 10/10/2021 | 0.3% |
| Ecopetrol S.A. | 5.875% | 05/28/2045 | 0.2% |
| Corp Lindley SA | 4.625% | 04/12/2023 | 0.2% |
| Vale Overseas Ltd. | 6.875% | 11/10/2039 | 0.2% |
| Coeur Mining, Inc. | 7.875% | 02/01/2021 | 0.2% |
| FTS International, Inc. | 8.153% | 06/15/2020 | 0.1% |
| MEG Energy Corp. | 6.375% | 01/30/2023 | 0.1% |
| Energen Corp. | 4.625% | 09/01/2021 | 0.1% |
| Petrobras Global Finance BV | 5.625% | 05/20/2043 | 0.1% |
| SESI LLC | 7.125% | 12/15/2021 | 0.1% |
| WPX Energy, Inc. | 6.000% | 01/15/2022 | 0.1% |
| SM Energy Co. | 6.125% | 11/15/2022 | 0.1% |
| Popular, Inc. | 7.000% | 07/01/2019 | 0.1% |
| Kerr-McGee Corp. | 7.875% | 09/15/2031 | 0.1% |
| Continental Resources, Inc. | 5.000% | 09/15/2022 | 0.1% |
| Hilcorp Energy L.P. / Hilcorp Finance Co. | 5.000% | 12/01/2024 | 0.1% |
| FX USD/EUR 08/16 | - | 08/16/2016 | 0.0% |
| US 5YR NOTE (CBT) SEP16 | 0.000% | 10/05/2016 | 0.0% |
| FX EUR/USD 08/16 | - | 08/16/2016 | 0.0% |
| US 10YR NOTE (CBT)SEP16 | 0.000% | 09/30/2016 | 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.
Dividends & Cap Gains
Dividends & Cap Gains
Dividend Payments
- YTD Dividends Paidas of 09/23/2016
- $0.447
- Dividend Frequency
- Monthly (Daily Accrual)
| Record Date | Ex-Dividend Date | Reinvest & Payable Date | Dividend | Reinvest Price |
|---|---|---|---|---|
| Daily | Daily | 08/31/2016 | $0.05280 | $15.61 |
| Daily | Daily | 07/31/2016 | $0.05290 | $15.45 |
| Daily | Daily | 06/30/2016 | $0.05190 | $15.27 |
| Daily | Daily | 05/31/2016 | $0.05348 | $15.09 |
| Daily | Daily | 04/30/2016 | $0.06835 | $15.10 |
| Daily | Daily | 03/31/2016 | $0.06083 | $14.91 |
| Daily | Daily | 02/29/2016 | $0.05480 | $14.46 |
| Daily | Daily | 01/31/2016 | $0.05206 | $14.36 |
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 | 09/30/2016 |
| Daily | Daily | 10/31/2016 |
| Daily | Daily | 11/30/2016 |
| Daily | Daily | 12/31/2016 |
Capital Gains Distributions
| Record Date | Reinvest & Payable Date | Long-term | Short-term * | Total | Reinvest Price |
|---|---|---|---|---|---|
| 07/30/2015 | 07/31/2015 | - | $0.0012 | $0.0012 | $14.94 |
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
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 |
|---|---|
| 12/15/2016 | 12/16/2016 |
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% | $15.94 |
| $100,000 to $249,999 | 1.75% | 1.50% | $15.86 |
| $250,000 to $499,999 | 1.25% | 1.00% | $15.78 |
| $500,000 to $999,999 | 0.00% | 1.00% | $15.58 |
| $1,000,000 to $99,999,999 | 0.00% | 1.00% | $15.58 |
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 takes into account a contractual management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through 04/30/2017. 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 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.
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 U.S. 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, Standard & Poor’s, 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.
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.
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.
Note about Risk: The Fund is recently organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investment strategy. The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. Investing in the bond market is also subject to issuer, call, and inflation risk; investments may be worth more or less than the original cost when redeemed. Bonds issued or guaranteed by foreign governments and governmental entities (commonly referred to as ‘‘sovereign debt’’) present risks not associated with investments in other types of bonds. The sovereign government or governmental entity issuing or guaranteeing the debt may be unable or unwilling to make interest payments and/or repay the principal owed. The Fund is subject to risks associated with its investments in emerging market securities. Foreign investments generally pose greater risks than domestic investments. The securities markets of emerging market countries tend to be less liquid, to be especially subject to greater price volatility, to have a smaller market capitalization, and to have less government regulation. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be increased in emerging markets. The Fund may invest substantially in derivatives, which are subject to certain risks such as liquidity, market, and counterparty risk and the risk that a position could not be closed when most advantageous. Investing in derivatives could cause the Fund to lose more than the amount invested. High-yield, lower-rated securities involve greater credit risk, price volatility, illiquidity, and default risk than higher-rated securities. These factors can affect Fund performance. As it is a newly organized fund, the Fund’s performance at this time is very limited. The Fund's 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.
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, or 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.
Fund Documents
Fund Documents
Download fund documents & literature, create email subscriptions, and place direct mail order
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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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Annual Report
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Semi-Annual Report
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Fact Sheet
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Capital Markets Presentation
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