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Global Bond Fund

Daily price w/o sales charge as of 05/29/2020

$9.64

arrowUp$0.02

YTD Returns w/o sales charge as of 05/29/2020

-3.64%

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

Click here to view all legal text including risk information

Summary

Summary

What is the Global Bond Fund?

The Fund seeks to deliver total return by investing in bonds across multiple sectors in developed and emerging markets located throughout the world. 

 

Yield

Dividend Yield 1 as of 05/29/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.18% 0.93%

30-Day Standardized Yield 2 as of 04/30/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.83% 1.10%

Fund Basicsas of 04/30/2020

Total Net Assets
$10.36 M
Inception Date
08/01/2018
Dividend Frequency
Monthly
Fund Gross Expense Ratio
3.33%
Fund Net Expense Ratio
1.08%
Number of Holdings
358

Fund Expense Ratio :

Gross 3.33%

Net 1.08%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge -5.48% -1.24% - - - 0.29%
Lipper Category Avg. Global Income Funds -1.59% 3.24% - - - -
Bloomberg Barclays Global Aggregate Index 1.63% 6.56% - - - 5.08%

Fund Expense Ratio :

Gross 3.33%

Net 1.08%

Fund Expense Ratio :

Gross 3.33%

Net 1.08%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge -7.82% -3.54% - - - -1.20%
Lipper Category Avg. Global Income Funds -4.15% 0.64% - - - -
Bloomberg Barclays Global Aggregate Index -0.33% 4.20% - - - 4.12%

Fund Expense Ratio :

Gross 3.33%

Net 1.08%

Investment Team

Leah G. Traub
Leah G. Traub, Ph.D.

Partner & Portfolio Manager

19 Years of Industry Experience

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner & Portfolio Manager

22 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

19 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

Annika M. Lombardi
Annika M. Lombardi

Portfolio Manager

13 Years of Industry Experience

Supported By 64 Investment Professionals with 15 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Fund Expense Ratio :

Gross 3.33%

Net 1.08%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge -5.48% -1.24% - - - 0.29%
Lipper Category Avg. Global Income Funds -1.59% 3.24% - - - -
Bloomberg Barclays Global Aggregate Index 1.63% 6.56% - - - 5.08%

Fund Expense Ratio :

Gross 3.33%

Net 1.08%

Fund Expense Ratio :

Gross 3.33%

Net 1.08%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge -7.82% -3.54% - - - -1.20%
Lipper Category Avg. Global Income Funds -4.15% 0.64% - - - -
Bloomberg Barclays Global Aggregate Index -0.33% 4.20% - - - 4.12%

Fund Expense Ratio :

Gross 3.33%

Net 1.08%

Year Fund Returns Bloomberg Barclays Global Aggregate Index
2019 8.00% 6.84%
2018 -1.54% -1.20%
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -7.82% - - - -3.63%
2019 3.20% 3.28% -0.08% 1.40% 8.00%
2018 - - - -1.17% -1.54%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
US Corp High Grade
Non-US Corp High Grade
US Corp High Yield
Sovereign Developed
Currency
ABS
Non-US Corp High Yield
MBS Passthrough
Sovereign Emerging
MBS Other
Govt
CMBS
US Bank Loan High Yield
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 04/30/2020

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
BB
B
CCC
Not Rated

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 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 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.

Portfolio Positioning as of 12/31/2019

  • The portfolio maintains a flexible, multi-sector approach with the ability to have exposure to more credit-sensitive sectors outside of its benchmark, the Bloomberg Barclays Global Aggregate Index. The portfolio seeks to deliver total return by investing in bonds across multiple sectors in developed and emerging markets located throughout the world. Primary sector allocations include investment grade and high yield corporate bonds, sovereign debt, mortgage-backed securities (“MBS”), and asset-backed securities (“ABS”).
  • As European yields became more negative at the end of the summer, we began reducing the portfolio’s allocation to core European countries to lock in the higher prices. In particular, we reduced the portfolio’s allocation to both sovereign securities and investment grade corporate bonds within Germany and France, mitigating the impact from the subsequent rise in developed sovereign bond yields throughout the quarter.
  • We increased the portfolio’s allocation to emerging market sovereign securities following weak performance in the third quarter due to trade tensions and concerns over slowing global growth. With trade tensions between the U.S. and China being alleviated and our expectation that central banks across the globe will hold steady and that the global economy will rebound, we anticipate emerging market securities will be positively impacted.
  • Given the continued tightening within corporate credit, we have reduced the portfolio’s allocation to U.S. investment grade corporate bonds and both U.S. and non-U.S. high yield corporates while opportunistically adding to sectors that offer attractive relative value and carry opportunities. We modestly increased the portfolio’s allocation to securitized products and bank loans, as we anticipate spreads will compress within these sectors in the upcoming months.

Portfolio Details as of 04/30/2020

Total Net Assets
$10.36 M
Number of Issues
358
Average Coupon
3.84%
Average Life
7.67 Years
Average Maturity
9.85 Years
Average Effective Duration
5.56 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.

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
30-YR UMBS-TBA PROD MAY 3.000% 08/01/2045 3.4%
McCormick & Co., Inc. 0.000% 05/29/2020 2.4%
Country Garden Holdings Co. Ltd. 4.750% 01/17/2023 2.0%
Federal National Mortgage Assoc. 3.500% 09/01/2047 1.9%
China Development Bank 3.480% 01/08/2029 1.6%
Japan Government Twenty Year Bond 2.100% 12/20/2029 1.4%
China Development Bank 3.420% 07/02/2024 1.3%
Comcast Corp. 1.500% 02/20/2029 1.2%
Pinewood Finance Co Ltd 3.250% 09/30/2025 1.2%
CPUK Finance Ltd 3.588% 08/28/2025 1.2%
% of Total Assets 17.6%
Holding Coupon Maturity Assets
30-YR UMBS-TBA PROD APR3.000% 05/01/20493.7%
McCormick & Co., Inc.0.000% 05/29/20202.5%
Federal National Mortgage Assoc.3.500% 09/01/20472.0%
Country Garden Holdings Co. Ltd.4.750% 01/17/20231.9%
China Development Bank3.480% 01/08/20291.6%
U.S. Treasury Note/Bond1.500% 02/15/20301.6%
Japan Government Twenty Year Bond2.100% 12/20/20291.4%
China Development Bank3.420% 07/02/20241.4%
CPUK Finance Ltd3.588% 08/28/20251.2%
Kerry Group Financial Services Unltd Co2.375% 09/10/20251.2%
Comcast Corp.1.500% 02/20/20291.2%
U.S. Treasury Note/Bond3.625% 08/15/20431.2%
UniCredit S.p.A.6.950% 10/31/20221.2%
Pinewood Finance Co Ltd3.250% 09/30/20251.2%
Newell Rubbermaid, Inc.3.750% 10/01/20211.2%
Bacardi Ltd.2.750% 07/03/20231.2%
AA Bond Co Ltd2.750% 07/31/20231.1%
Japan Government Two Year Bond0.100% 02/01/20221.1%
Netflix, Inc.3.875% 11/15/20291.1%
Ubisoft Entertainment SA1.289% 01/30/20231.1%
U.S. Treasury Note0.500% 04/15/20241.1%
Japan Government Twenty Year Bond1.400% 09/20/20341.1%
30-YR UMBS-TBA PROD APR4.000% 08/01/20491.1%
Credit Suisse Group AG1.250% 07/17/20251.1%
United Kingdom Gilt1.500% 07/22/20471.1%
Sigma Holdco BV5.750% 05/15/20261.1%
Aroundtown SA1.450% 07/09/20281.0%
Lloyds Bank plc6.500% 09/14/20201.0%
CPS Auto Receivables Trust 2016-C5.920% 06/15/20221.0%
NBCUniversal Enterprise, Inc.5.250% 06/19/20991.0%
Discover Card Execution Note Trust1.900% 10/17/20221.0%
AT&T, Inc.2.875% 02/18/21701.0%
Trillium Credit Card Trust II1.275% 09/26/20231.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20601.0%
RCS & RDS SA3.250% 02/05/20281.0%
Wingstop Funding 2018-1 LLC4.970% 12/05/20481.0%
U.S. Treasury Note/Bond4.500% 02/15/20361.0%
Residential Mortgage Loan Trust 2020-12.376% 02/25/20241.0%
Perimeter Master Note Business Trust4.230% 05/15/20241.0%
Q-Park Holding I BV2.000% 03/01/20271.0%
Verus Securitization Trust 2020-12.417% 01/25/20601.0%
Lincoln Financing SARL3.625% 04/01/20241.0%
CPS Auto Receivables Trust 2019-A4.350% 12/16/20241.0%
Spain Government Bond4.200% 01/31/20370.9%
Italy Buoni Poliennali Del Tesoro1.750% 07/01/20240.9%
China Development Bank3.680% 02/26/20260.9%
United Kingdom Gilt1.625% 10/22/20280.9%
Mclaren Finance PLC5.000% 08/01/20220.9%
U.S. Treasury Note/Bond4.375% 05/15/20400.9%
Japan Government Twenty Year Bond0.400% 03/20/20390.8%
Intrum Justitia AB3.000% 09/15/20270.8%
Cigna Corp2.550% 09/17/20210.7%
Bundesrepublik Deutschland Bundesanleihe0.000% 02/15/20300.7%
Japan Government Thirty Year Bond0.400% 06/20/20490.7%
Chesapeake Funding II LLC1.075% 08/15/20300.6%
United Kingdom Gilt1.750% 09/07/20370.6%
Macquarie Group Ltd.3.763% 11/28/20280.6%
Brazil Notas do Tesouro Nacional Serie F10.000% 01/01/20290.5%
Westlake Automobile Receivables Trust 2018-24.000% 01/16/20240.5%
Macquarie Bank Ltd.6.625% 04/07/20210.5%
French Republic Government Bond OAT2.000% 05/25/20480.5%
Goldman Sachs Group, Inc.5.250% 07/27/20210.5%
AmeriCredit Automobile Receivables Trust 2020-11.480% 01/21/20250.5%
Bank of America Corp.2.369% 07/21/20210.5%
Morgan Stanley3.146% 01/20/20220.5%
Cox Communications, Inc.8.375% 03/01/20390.5%
Marathon Petroleum Corp.5.375% 10/01/20220.5%
Italy Buoni Poliennali Del Tesoro2.450% 09/01/20330.5%
Brightsphere Investment Group Inc4.800% 07/27/20260.5%
Florida Power & Light Co.2.308% 05/06/20220.5%
City of Montreal Canada4.250% 12/01/20320.5%
U.S. Treasury Note/Bond2.000% 02/15/20500.5%
ME Funding LLC 2019-16.448% 07/30/20490.5%
United Kingdom Gilt4.250% 12/07/20270.5%
Province of Saskatchewan Canada4.750% 06/01/20400.5%
AstraZeneca plc2.569% 08/17/20230.5%
JP Morgan Chase Commercial Mortgage Securities Tru1.705% 06/15/20320.4%
United Kingdom Gilt0.750% 07/22/20230.4%
Queensland Treasury Corp.1.750% 08/21/20310.4%
Bundesrepublik Deutschland Bundesanleihe1.250% 08/15/20480.4%
Toronto Hydro Corp3.540% 11/18/20210.4%
South Africa Government Bond8.750% 02/28/20480.4%
Spain Government Bond1.450% 04/30/20290.4%
Toyota Motor Credit Corp.1.753% 05/22/20200.4%
CSAIL 2016-C7 Commercial Mortgage Trust4.387% 11/15/20490.4%
Origin Energy Finance Ltd.5.450% 10/14/20210.4%
Federal National Mortgage Assoc.4.000% 01/01/20480.4%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.3%
French Republic Government Bond OAT4.500% 04/25/20410.3%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.3%
Neuberger Berman Group LLC4.875% 04/15/20450.3%
Italy Buoni Poliennali Del Tesoro1.350% 04/01/20300.3%
U.S. Treasury Note/Bond0.500% 03/31/20250.3%
Telstra Corp., Ltd.7.750% 07/15/20200.3%
Sprint Capital Corp.6.875% 11/15/20280.3%
Netflix, Inc.5.875% 02/15/20250.3%
Dell International LLC / EMC Corp.8.350% 07/15/20460.3%
AbbVie, Inc.2.545% 11/21/20220.3%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.3%
Harris Corp.2.416% 04/30/20200.3%
COMM Mortgage Trust4.435% 07/10/20500.3%
Federal Home Loan Mortgage Corp.4.000% 10/01/20490.3%
MPLX L.P.2.785% 09/09/20210.3%
United Kingdom Gilt2.000% 07/22/20200.3%
Ecopetrol S.A.5.875% 05/28/20450.3%
French Republic Government Bond OAT1.500% 05/25/20500.3%
PPL WEM Ltd./Western Power Distribution Ltd.5.375% 05/01/20210.3%
BAT Capital Corp2.572% 08/15/20220.3%
Bahamas Government International Bond6.950% 11/20/20290.3%
Numericable Group S.A.7.375% 05/01/20260.3%
Patrick Industries, Inc.7.500% 10/15/20270.3%
Hewlett Packard Enterprise Co.2.567% 03/12/20210.3%
Toyota Motor Credit Corp.2.900% 03/30/20230.3%
General Motors Co.6.750% 04/01/20460.3%
General Electric Co.2.801% 04/15/20200.3%
Great Wolf Trust 2019-WOLF1.739% 12/15/20360.3%
Hyundai Capital America3.450% 03/12/20210.2%
RBS Global & Rexnord Corp.4.875% 12/15/20250.2%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.2%
Hungary Government Bond3.000% 08/21/20300.2%
Centene Corp.3.375% 02/15/20300.2%
United Mexican States, MTN4.750% 03/08/20440.2%
COMM Mortgage Trust4.435% 07/10/20500.2%
Tyco Electronics Group S.A.2.342% 06/05/20200.2%
Trimble Navigation Ltd.4.900% 06/15/20280.2%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.2%
DKT Finance ApS9.375% 06/17/20230.2%
Continental Resources, Inc.5.000% 09/15/20220.2%
Petroleos Mexicanos5.350% 02/12/20280.2%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.2%
Tenet Healthcare Corp.6.250% 02/01/20270.2%
Goldman Sachs Group, Inc.6.750% 10/01/20370.2%
Santander Drive Auto Receivables Trust 2018-34.070% 08/15/20240.2%
CCO Holdings LLC / CCO Holdings Capital Corp.4.750% 03/01/20300.2%
TransDigm, Inc.6.250% 03/15/20260.2%
AMC Networks, Inc.4.750% 08/01/20250.2%
BX Trust 2019-OC113.202% 12/09/20410.2%
Valero Energy Corp.10.500% 03/15/20390.2%
Performance Food Group, Inc.5.500% 10/15/20270.2%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.2%
Fibria Overseas Finance Ltd.5.250% 05/12/20240.2%
Navient Corp.6.750% 06/25/20250.2%
Gray Television, Inc.7.000% 05/15/20270.2%
William Carter Co.5.625% 03/15/20270.2%
Ameren Corp.3.500% 01/15/20310.2%
Visa, Inc.1.900% 04/15/20270.2%
FX USD/GBP 06/200.000% 06/05/20200.2%
DISH DBS Corp.7.750% 07/01/20260.2%
JP Morgan Chase Commercial Mortgage Securities Tru3.705% 06/15/20350.2%
CF Industries, Inc.5.150% 03/15/20340.2%
JP Morgan Chase Commercial Mortgage Securities Tru2.005% 06/15/20320.2%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.2%
Bombardier, Inc.7.875% 04/15/20270.2%
Drive Auto Receivables Trust3.660% 11/15/20240.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
TRI Pointe Homes LLC5.250% 06/01/20270.2%
Presidio Holdings Inc4.875% 02/01/20270.2%
FX JPY/USD 04/200.000% 04/30/20200.2%
Empresas Publicas de Medellin ESP8.375% 11/08/20270.2%
Ingevity Corp.4.500% 02/01/20260.2%
Popular, Inc.6.125% 09/14/20230.2%
AmeriCredit Automobile Receivables 2015-43.720% 12/08/20210.2%
Itron, Inc.5.000% 01/15/20260.1%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.1%
JB Poindexter & Co., Inc.7.125% 04/15/20260.1%
EW Scripps Co.5.125% 05/15/20250.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
JPMorgan Chase & Co.4.000% 12/31/20990.1%
Century Communities, Inc.6.750% 06/01/20270.1%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.1%
Signature Aviation US Holdings Inc4.000% 03/01/20280.1%
Florida Power & Light Co.2.850% 04/01/20250.1%
JPMorgan Chase & Co.4.600% 12/31/20990.1%
BWAY Holding Co.7.250% 04/15/20250.1%
Leidos, Inc.7.125% 07/01/20320.1%
New Gold, Inc.6.250% 11/15/20220.1%
Intelsat Jackson Holdings SA5.500% 08/01/20230.1%
Mattel, Inc.5.450% 11/01/20410.1%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.1%
Rite Aid Corp.6.125% 04/01/20230.1%
Valeant Pharmaceuticals International, Inc.5.250% 01/30/20300.1%
Tesla Motors, Inc.5.300% 08/15/20250.1%
Ashland, Inc.6.875% 05/15/20430.1%
United Natural Foods Inc5.239% 10/22/20250.1%
Clearway Energy Operating LLC4.750% 03/15/20280.1%
NRG Energy, Inc.5.750% 01/15/20280.1%
BBCMS 2019-BWAY Mortgage Trust1.661% 11/25/20340.1%
Playtika Holding Corp7.072% 12/03/20240.1%
Uber Technologies Inc8.000% 11/01/20260.1%
Quicken Loans Inc5.750% 05/01/20250.1%
Newell Rubbermaid, Inc.5.625% 04/01/20360.1%
Kraft Heinz Foods Co.4.375% 06/01/20460.1%
Select Medical Corp.6.250% 08/15/20260.1%
Optiv Sec, Inc.5.152% 02/01/20240.1%
EPR Properties4.950% 04/15/20280.1%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.1%
Panther BF Aggregator 2 LP / Panther Finance Co In8.500% 05/15/20270.1%
Masonite International Corp.5.375% 02/01/20280.1%
Match Group, Inc.4.125% 08/01/20300.1%
Nexstar Broadcasting, Inc.5.625% 07/15/20270.1%
Buckeye Partners L.P.6.375% 01/22/20780.1%
MPH Acquisition Holdings LLC7.125% 06/01/20240.1%
United Rentals, Inc.5.500% 05/15/20270.1%
MEDNAX, Inc.6.250% 01/15/20270.1%
Match Group, Inc.5.000% 12/15/20270.1%
Scientific Games International, Inc.7.250% 11/15/20290.1%
Freeport-McMoRan, Inc.4.125% 03/01/20280.1%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.1%
Baxter International, Inc.3.750% 10/01/20250.1%
Adient US LLC7.000% 05/15/20260.1%
Griffon Corp.5.750% 03/01/20280.1%
Springleaf Finance Corp.5.375% 11/15/20290.1%
DG Investment Intermediate Holdings 2, Inc. (aka Convergint Technologies Holdings, LLC)3.989% 02/03/20250.1%
Minotaur Acquisition Inc5.989% 02/27/20260.1%
General Electric Co.6.150% 08/07/20370.1%
Boyd Gaming Corp.4.750% 12/01/20270.1%
BBCMS 2019-BWAY Mortgage Trust2.015% 11/25/20340.1%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.1%
Advisor Group Holdings Inc10.750% 08/01/20270.1%
Exelon Corp.4.050% 04/15/20300.1%
Spectacle Gary Holdings, LLC11.000% 10/17/20240.1%
Hayward Acquisition Corp.4.489% 08/05/20240.1%
Mattamy Group Corp.4.625% 03/01/20300.1%
Diamondback Energy, Inc.3.500% 12/01/20290.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
WeWork Cos Inc7.875% 05/01/20250.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
Berry Petroleum Co.7.000% 02/15/20260.1%
FX USD/AUD 04/200.000% 04/30/20200.1%
Geo Group, Inc.6.000% 04/15/20260.1%
Enterprise Development Authority/The12.000% 07/15/20240.1%
Beazer Homes USA, Inc.7.250% 10/15/20290.1%
Laredo Petroleum Holdings, Inc.9.500% 01/15/20250.1%
Crown Castle International Corp.3.300% 07/01/20300.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Twin River Worldwide Holdings Inc6.750% 06/01/20270.1%
Drive Auto Receivables Trust3.360% 10/17/20220.1%
Surgery Center Holdings, Inc.10.000% 04/15/20270.1%
MEG Energy Corp.7.125% 02/01/20270.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
Spain Government Bond2.700% 10/31/20480.1%
NEP/NCP Holdco Inc4.700% 10/05/20250.1%
Shea Homes LP / Shea Homes Funding Corp.4.750% 02/15/20280.1%
Indigo Natural Resources LLC6.875% 02/15/20260.1%
Lower Cadence Holdings L4.989% 05/08/20260.1%
FX USD/COP 04/200.000% 04/24/20200.1%
Builders FirstSource, Inc.5.000% 03/01/20300.1%
Hecla Mining Co.7.250% 02/15/20280.1%
Radiology Partners Inc9.250% 02/01/20280.1%
Viking Cruises Ltd.5.875% 09/15/20270.1%
FX USD/BRL 06/200.000% 06/04/20200.1%
Murphy Oil Corp.5.875% 12/01/20270.1%
Presidio Holdings Inc8.250% 02/01/20280.1%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.1%
Sysco Corp.6.600% 04/01/20400.1%
CNO Financial Group, Inc.5.250% 05/30/20250.1%
AG Issuer LLC6.250% 03/01/20280.1%
Western Digital Corp.4.750% 02/15/20260.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
Barminco Finance Pty Ltd.6.625% 05/15/20220.1%
Pulte Group, Inc.5.500% 03/01/20260.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
Valeant Pharmaceuticals International, Inc.5.000% 01/30/20280.0%
Navient Corp.5.875% 10/25/20240.0%
Toll Brothers Finance Corp.4.875% 03/15/20270.0%
Tronox Inc6.500% 04/15/20260.0%
Lithia Motors, Inc.4.625% 12/15/20270.0%
Buena Vista Gaming Authority13.000% 04/01/20230.0%
GLP Capital L.P. / GLP Financing II, Inc.5.750% 06/01/20280.0%
NGPL Pipeco LLC4.875% 08/15/20270.0%
Weight Watchers International, Inc.8.625% 12/01/20250.0%
AHP Health Partners Inc9.750% 07/15/20260.0%
Rain CII Carbon LLC7.250% 04/01/20250.0%
West Street Merger Sub Inc6.375% 09/01/20250.0%
Century Communities, Inc.5.875% 07/15/20250.0%
Navient Corp.5.000% 03/15/20270.0%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.0%
FX USD/IDR 06/200.000% 06/11/20200.0%
MEG Energy Corp.7.000% 03/31/20240.0%
Huntington Ingalls Industries, Inc.3.844% 05/01/20250.0%
Cloud Crane LLC10.125% 08/01/20240.0%
Hadrian Merger Sub Inc8.500% 05/01/20260.0%
Front Range BidCo Inc6.125% 03/01/20280.0%
FX USD/THB 04/200.000% 04/27/20200.0%
Surgery Center Holdings, Inc.6.750% 07/01/20250.0%
Carrier Global Corp3.577% 04/05/20500.0%
Fresh Market, Inc.9.750% 05/01/20230.0%
Churchill Downs, Inc.4.750% 01/15/20280.0%
FX USD/NZD 04/200.000% 04/28/20200.0%
Citgo Holding, Inc.9.250% 08/01/20240.0%
SM Energy Co.6.750% 09/15/20260.0%
Centennial Resource Production LLC6.875% 04/01/20270.0%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.0%
FX USD/ZAR 06/200.000% 06/11/20200.0%
FX USD/TRY 04/200.000% 04/24/20200.0%
Oasis Petroleum, Inc.6.875% 03/15/20220.0%
McDonald's Corp.3.300% 07/01/20250.0%
Nabors Industries Ltd.7.500% 01/15/20280.0%
FX USD/JPY 04/200.000% 04/30/20200.0%
FX CAD/USD 06/200.000% 06/15/20200.0%
University of Chicago/The2.761% 04/01/20450.0%
FX USD/PEN 04/200.000% 04/24/20200.0%
FX USD/HUF 04/200.000% 04/27/20200.0%
FX USD/THB 04/200.000% 04/09/20200.0%
FX GBP/USD 06/200.000% 06/05/20200.0%
WPX Energy, Inc.8.250% 08/01/20230.0%
FX USD/JPY 04/200.000% 04/30/20200.0%
FX AUD/USD 04/200.000% 04/30/20200.0%
PDC Energy, Inc.5.750% 05/15/20260.0%
FX USD/CNH 05/200.000% 05/06/20200.0%
Leidos, Inc.5.500% 07/01/20330.0%
FX USD/TWD 04/200.000% 04/21/20200.0%
Spectacle Gary Holding11.000% 11/07/20250.0%
FX EUR/USD 06/200.000% 06/09/20200.0%
FX CHF/USD 04/200.000% 04/30/20200.0%
FX PEN/USD 04/200.000% 04/24/20200.0%
FX USD/EUR 06/200.000% 06/09/20200.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.0%
FX EUR/USD 06/200.000% 06/09/20200.0%
US ULTRA BOND CBT JUN200.000% 06/30/20200.0%
US 5YR NOTE (CBT) JUN200.000% 07/06/20200.0%
FX USD/CAD 06/200.000% 06/15/20200.0%
FX EUR/USD 06/200.000% 06/09/20200.0%
FX USD/JPY 04/200.000% 04/30/20200.0%
FX EUR/USD 06/200.000% 06/09/20200.0%
Credit Index Swap1.000% 06/20/20250.0%
FX CAD/USD 06/200.000% 06/15/20200.0%
FX USD/SEK 04/200.000% 04/27/20200.0%
FX SEK/USD 04/200.000% 04/27/20200.0%
FX USD/JPY 04/200.000% 04/30/20200.0%
FX CNH/USD 05/200.000% 05/06/20200.0%
FX KRW/USD 05/200.000% 05/26/20200.0%
FX THB/USD 04/200.000% 04/09/20200.0%
FX USD/KRW 05/200.000% 05/26/20200.0%
FX RUB/USD 06/200.000% 06/11/20200.0%
Credit Index Swap5.000% 12/20/20240.0%
FX IDR/USD 06/200.000% 06/11/20200.0%
FX USD/JPY 04/200.000% 04/30/20200.0%
FX EUR/USD 06/200.000% 06/09/20200.0%
FX IDR/USD 06/200.000% 06/11/20200.0%
FX USD/AUD 04/200.000% 04/30/20200.0%
FX EUR/USD 06/200.000% 06/09/20200.0%
FX INR/USD 04/200.000% 04/13/20200.0%
FX NOK/USD 06/200.000% 06/11/20200.0%
FX AUD/USD 04/200.000% 04/30/20200.0%
FX TRY/USD 04/200.000% 04/24/2020-0.1%
FX NZD/USD 04/200.000% 04/28/2020-0.1%
FX MXN/USD 06/200.000% 06/18/2020-0.1%
FX COP/USD 04/200.000% 04/24/2020-0.1%
Credit Index Swap1.000% 12/20/2024-1.1%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Fees & Expenses

Fees & Expenses

Expense Ratioas of 04/30/2020

Fund Gross Expense Ratio Fund Net Expense Ratio
3.33% 1.08%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
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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.

 

 

IMPORTANT INFORMATION

 

New Fund 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.

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.

 

 

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.

 

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 Global Aggregate Index provided a broad-based measure of the global investment-grade fixed income markets. The three major components of this index are the U.S. Aggregate, the Pan-European Aggregate, and the Asian-Pacific Aggregate Indices. The Index also includes Eurodollar and Euro-Yen corporate bonds, Candadian government, agency and corporate securities, and USD investment grade 144A securities.

 

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.

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