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Global Bond Fund

Daily price w/o sales charge as of 01/24/2020

$10.14

$0.00

YTD Returns w/o sales charge as of 01/24/2020

0.30%

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 01/24/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.08% 1.09%
w/ sales charge 3.01% 1.06%

30-Day Standardized Yield 2 as of 12/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.91% 0.00%

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

Expense Ratioas of 12/31/2019

Expense ratio details, Click here.

Fund Basicsas of 12/31/2019

Total Net Assets
$10.87 M
Inception Date
08/01/2018
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
292
Minimum Initial Investment
$1,000+

Fund Expense Ratio :

Gross 2.77%

Net 0.78%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge 8.32% 8.32% - - - 4.73%
Lipper Category Avg. Global Income Funds 8.21% 8.21% - - - -
Bloomberg Barclays Global Aggregate Index 6.84% 6.84% - - - 5.09%
w/ sales charge 5.92% 5.92% - - - 3.07%

Fund Expense Ratio :

Gross 2.77%

Net 0.78%

Fund Expense Ratio :

Gross 2.77%

Net 0.78%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge 8.32% 8.32% - - - 4.73%
Lipper Category Avg. Global Income Funds 8.21% 8.21% - - - -
Bloomberg Barclays Global Aggregate Index 6.84% 6.84% - - - 5.09%
w/ sales charge 5.92% 5.92% - - - 3.07%

Fund Expense Ratio :

Gross 2.77%

Net 0.78%

Investment Team

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

Partner & Portfolio Manager

21 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

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

Partner & Portfolio Manager

18 Years of Industry Experience

Annika M. Lombardi
Annika M. Lombardi

Portfolio Manager

12 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 2.77%

Net 0.78%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge 8.32% 8.32% - - - 4.73%
Lipper Category Avg. Global Income Funds 8.21% 8.21% - - - -
Bloomberg Barclays Global Aggregate Index 6.84% 6.84% - - - 5.09%
w/ sales charge 5.92% 5.92% - - - 3.07%

Fund Expense Ratio :

Gross 2.77%

Net 0.78%

Fund Expense Ratio :

Gross 2.77%

Net 0.78%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge 8.32% 8.32% - - - 4.73%
Lipper Category Avg. Global Income Funds 8.21% 8.21% - - - -
Bloomberg Barclays Global Aggregate Index 6.84% 6.84% - - - 5.09%
w/ sales charge 5.92% 5.92% - - - 3.07%

Fund Expense Ratio :

Gross 2.77%

Net 0.78%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns Bloomberg Barclays Global Aggregate Index
2019 8.32% 6.84%
2018 -1.42% -1.20%
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 - - - - 0.32%
2019 3.28% 3.35% 0.00% 1.48% 8.32%
2018 - - - -1.10% -1.42%

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

Type Assets
Non-US Corp High Grade
US Corp High Grade
Sovereign Developed
Govt
Currency
US Corp High Yield
Non-US Corp High Yield
ABS
MBS Passthrough
Sovereign Emerging
CMBS
US Bank Loan High Yield
MBS Other
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 12/31/2019

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 12/31/2019

Total Net Assets
$10.87 M
Number of Issues
292
Average Coupon
3.89%
Average Life
7.51 Years
Average Maturity
8.55 Years
Average Effective Duration
5.6 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 JAN 3.500% 03/01/2049 3.4%
30-YR UMBS-TBA PROD JAN 3.000% 05/01/2049 3.3%
U.S. Treasury Note/Bond 2.250% 12/31/2023 2.2%
Country Garden Holdings Co. Ltd. 4.750% 01/17/2023 1.9%
U.S. Treasury Note/Bond 2.750% 11/15/2047 1.5%
CPUK Finance Ltd 3.588% 08/28/2025 1.3%
U.S. Treasury Note/Bond 1.750% 11/15/2029 1.3%
Pinewood Finance Co Ltd 3.250% 09/30/2025 1.3%
U.S. Treasury Note/Bond 1.750% 12/31/2024 1.3%
UniCredit S.p.A. 6.950% 10/31/2022 1.2%
% of Total Assets 18.7%
Holding Coupon Maturity Assets
30-YR UMBS-TBA PROD DEC3.500% 03/01/20493.4%
30-YR UMBS-TBA PROD DEC3.000% 05/01/20493.4%
U.S. Treasury Note/Bond1.500% 11/30/20243.0%
U.S. Treasury Note/Bond2.250% 12/31/20232.2%
Country Garden Holdings Co. Ltd.4.750% 01/17/20231.9%
U.S. Treasury Note/Bond2.750% 11/15/20471.6%
U.S. Treasury Note/Bond1.750% 11/15/20291.4%
CPUK Finance Ltd3.588% 08/28/20251.3%
Pinewood Finance Co Ltd3.250% 09/30/20251.3%
UniCredit S.p.A.6.950% 10/31/20221.2%
Mclaren Finance PLC5.000% 08/01/20221.2%
Kerry Group Financial Services Unltd Co2.375% 09/10/20251.2%
Techem Verwaltungsgesellschaft 674 mbH6.000% 07/30/20261.1%
Bacardi Ltd.2.750% 07/03/20231.1%
Netflix, Inc.3.875% 11/15/20291.1%
Cassa Depositi e Prestiti SpA2.125% 09/27/20231.1%
Piaggio & C SpA3.625% 04/30/20251.1%
Newell Rubbermaid, Inc.3.750% 10/01/20211.1%
Credit Suisse Group AG1.250% 07/17/20251.1%
Motion Bondco DAC4.500% 11/15/20271.1%
Lincoln Financing SARL3.625% 04/01/20241.1%
Ubisoft Entertainment SA1.289% 01/30/20231.1%
Aroundtown SA1.450% 07/09/20281.1%
Carnival plc1.000% 10/28/20291.0%
DH Europe Finance II Sarl0.450% 03/18/20281.0%
Intrum Justitia AB3.000% 09/15/20271.0%
Lloyds Bank plc6.500% 09/14/20201.0%
NBCUniversal Enterprise, Inc.5.250% 06/19/20991.0%
CPS Auto Receivables Trust 2016-C5.920% 06/15/20221.0%
U.S. Treasury Note/Bond3.625% 08/15/20431.0%
American Express Credit Account Master Trust2.670% 10/17/20221.0%
Perimeter Master Note Business Trust4.230% 05/15/20241.0%
United Kingdom Gilt1.500% 07/22/20470.9%
Discover Card Execution Note Trust1.900% 10/17/20220.9%
Spain Government Bond4.200% 01/31/20370.9%
Italy Buoni Poliennali Del Tesoro1.750% 07/01/20240.9%
Ally Master Owner Trust3.300% 07/17/20230.9%
United Kingdom Gilt1.625% 10/22/20280.8%
China Development Bank3.680% 02/26/20260.8%
China Development Bank3.480% 01/08/20290.8%
French Republic Government Bond OAT1.250% 05/25/20360.8%
U.S. Treasury Note/Bond4.500% 02/15/20360.8%
Towd Point Mortgage Trust 2019-HY22.708% 05/25/20580.8%
U.S. Treasury Note/Bond2.250% 08/15/20490.8%
Wells Fargo & Co.3.473% 03/04/20210.7%
French Republic Government Bond OAT2.000% 05/25/20480.7%
Martin Marietta Materials, Inc.2.887% 12/20/20190.7%
Chesapeake Funding II LLC2.135% 08/15/20300.7%
EUROFIMA3.900% 12/19/20250.7%
Japan Government Thirty Year Bond0.400% 06/20/20490.7%
BAT International Finance plc6.375% 12/12/20190.7%
ESB Finance DAC6.500% 03/05/20200.7%
OPB Finance Trust2.980% 01/25/20270.6%
African Development Bank Group3.350% 08/08/20280.6%
Norgeskreditt AS4.250% 06/16/20210.5%
State of North Rhine-Westphalia Germany1.500% 06/12/20400.5%
Japan Government Twenty Year Bond1.400% 09/20/20340.5%
United Kingdom Gilt1.750% 09/07/20370.5%
Cox Communications, Inc.8.375% 03/01/20390.5%
Goldman Sachs Group, Inc.5.250% 07/27/20210.5%
Macquarie Bank Ltd.6.625% 04/07/20210.5%
Malaysia Government Bond3.478% 06/14/20240.5%
Brightsphere Investment Group Inc4.800% 07/27/20260.5%
Province of Ontario, Canada2.900% 06/02/20280.5%
Indonesia Treasury Bond8.375% 03/15/20240.5%
Macquarie Group Ltd.3.763% 11/28/20280.5%
Neuberger Berman Group LLC4.875% 04/15/20450.5%
Japan Government Twenty Year Bond0.400% 03/20/20390.5%
Southern Power Co2.937% 12/20/20200.5%
Province of Saskatchewan Canada4.750% 06/01/20400.5%
Spain Government Bond1.850% 07/30/20350.5%
Citigroup, Inc.3.710% 03/30/20210.5%
Marathon Petroleum Corp.5.375% 10/01/20220.5%
Morgan Stanley3.458% 01/20/20220.5%
Bank of America Corp.2.369% 07/21/20210.5%
City of Montreal Canada4.250% 12/01/20320.5%
JPMorgan Chase & Co.3.003% 03/09/20210.5%
Brazil Notas do Tesouro Nacional Serie F10.000% 01/01/20290.5%
Italy Buoni Poliennali Del Tesoro2.450% 09/01/20330.5%
United Kingdom Gilt4.250% 12/07/20270.5%
JP Morgan Chase Commercial Mortgage Securities Tru2.765% 06/15/20320.4%
International Finance Corp.4.250% 08/21/20230.4%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.4%
Petroleos Mexicanos5.500% 02/24/20250.4%
Valero Energy Corp.10.500% 03/15/20390.4%
Brazil Letras do Tesouro Nacional0.000% 07/01/20220.4%
British Telecommunications plc8.625% 03/26/20200.4%
United Kingdom Gilt0.750% 07/22/20230.4%
Dell International LLC / EMC Corp.8.350% 07/15/20460.4%
Drive Auto Receivables Trust3.360% 10/17/20220.4%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.4%
Toronto Hydro Corp3.540% 11/18/20210.4%
Italy Buoni Poliennali Del Tesoro3.850% 09/01/20490.4%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.4%
Spain Government Bond1.450% 04/30/20290.3%
Telstra Corp., Ltd.7.750% 07/15/20200.3%
TransDigm, Inc.6.250% 03/15/20260.3%
Federal National Mortgage Assoc.4.000% 01/01/20480.3%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.3%
General Motors Co.6.750% 04/01/20460.3%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.3%
Origin Energy Finance Ltd.5.450% 10/14/20210.3%
Republic of Ireland1.700% 05/15/20370.3%
Continental Resources, Inc.5.000% 09/15/20220.3%
Ecopetrol S.A.5.875% 05/28/20450.3%
Republic of El Salvador6.375% 01/18/20270.3%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.3%
COMM Mortgage Trust4.584% 07/10/20500.3%
Italy Buoni Poliennali Del Tesoro1.350% 04/01/20300.3%
Republic of Turkey7.375% 02/05/20250.3%
Swedbank Hypotek AB1.000% 09/18/20240.3%
Netflix, Inc.5.875% 02/15/20250.3%
Bahamas Government International Bond6.950% 11/20/20290.3%
MPLX L.P.3.002% 09/09/20210.3%
Petroleos Mexicanos5.350% 02/12/20280.3%
South Africa Government Bond8.750% 02/28/20480.3%
United Kingdom Gilt2.000% 07/22/20200.3%
Federal Home Loan Mortgage Corp.4.000% 10/01/20490.3%
Puget Energy, Inc.5.625% 07/15/20220.3%
BAT Capital Corp3.038% 08/15/20220.3%
Numericable Group S.A.7.375% 05/01/20260.3%
Caesars Palace Las Vegas Trust 2017-VICI4.499% 10/15/20340.3%
YPF S.A.8.750% 04/04/20240.3%
Patrick Industries, Inc.7.500% 10/15/20270.3%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.2%
RBS Global & Rexnord Corp.4.875% 12/15/20250.2%
COMM Mortgage Trust4.584% 07/10/20500.2%
Newmont Mining Corp.3.700% 03/15/20230.2%
Hungary Government Bond3.000% 08/21/20300.2%
PPL WEM Ltd./Western Power Distribution Ltd.5.375% 05/01/20210.2%
New Zealand Local Government Funding Agency Bond2.750% 04/15/20250.2%
General Electric Co.3.103% 04/15/20200.2%
BA Credit Card Trust1.950% 08/15/20220.2%
Hyundai Capital America3.450% 03/12/20210.2%
United Mexican States, MTN4.750% 03/08/20440.2%
JP Morgan Chase Commercial Mortgage Securities Tru4.765% 06/15/20350.2%
Trimble Navigation Ltd.4.900% 06/15/20280.2%
Embraer Netherlands Finance BV5.050% 06/15/20250.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.2%
Navient Corp.6.750% 06/25/20250.2%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.2%
DKT Finance ApS9.375% 06/17/20230.2%
Glencore Finance Canada Ltd.5.550% 10/25/20420.2%
Santander Drive Auto Receivables Trust 2018-34.070% 08/15/20240.2%
OCI NV6.625% 04/15/20230.2%
Goldman Sachs Group, Inc.6.750% 10/01/20370.2%
Calpine Corp.5.500% 02/01/20240.2%
Fibria Overseas Finance Ltd.5.250% 05/12/20240.2%
AMC Networks, Inc.4.750% 08/01/20250.2%
Empresas Publicas de Medellin ESP8.375% 11/08/20270.2%
William Carter Co.5.625% 03/15/20270.2%
Tesla Motors, Inc.5.300% 08/15/20250.2%
JP Morgan Chase Commercial Mortgage Securities Tru3.065% 06/15/20320.2%
Gray Television, Inc.7.000% 05/15/20270.2%
National Oilwell Varco, Inc.3.950% 12/01/20420.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
TRI Pointe Homes LLC5.250% 06/01/20270.2%
Egypt Government Bond15.700% 11/07/20270.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
CF Industries, Inc.5.150% 03/15/20340.2%
Popular, Inc.6.125% 09/14/20230.2%
DISH DBS Corp.7.750% 07/01/20260.2%
Century Communities, Inc.6.750% 06/01/20270.2%
Ingevity Corp.4.500% 02/01/20260.2%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.2%
Spain Government Bond2.700% 10/31/20480.2%
Buckeye Partners L.P.6.375% 01/22/20780.2%
Drive Auto Receivables Trust3.660% 11/15/20240.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
Itron, Inc.5.000% 01/15/20260.2%
JB Poindexter & Co., Inc.7.125% 04/15/20260.1%
Panther BF Aggregator 2 LP / Panther Finance Co In8.500% 05/15/20270.1%
BWAY Holding Co.7.250% 04/15/20250.1%
EW Scripps Co.5.125% 05/15/20250.1%
General Electric Co.6.150% 08/07/20370.1%
WeWork Cos Inc7.875% 05/01/20250.1%
AmeriCredit Automobile Receivables 2015-43.720% 12/08/20210.1%
MEG Energy Corp.7.000% 03/31/20240.1%
Oasis Petroleum, Inc.6.875% 03/15/20220.1%
Intelsat Jackson Holdings SA5.500% 08/01/20230.1%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.1%
BBA US Holdings Inc4.000% 03/01/20280.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
Ashland, Inc.6.875% 05/15/20430.1%
Kingdom of Belgium Government Bond1.900% 06/22/20380.1%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.1%
EPR Properties4.950% 04/15/20280.1%
NRG Energy, Inc.5.750% 01/15/20280.1%
New Gold, Inc.6.250% 11/15/20220.1%
BBCMS 2019-BWAY Mortgage Trust2.756% 11/25/20340.1%
TIBCO Software, Inc.11.375% 12/01/20210.1%
United Rentals, Inc.5.500% 05/15/20270.1%
Hayward Acquisition Corp.5.202% 08/05/20240.1%
Nexstar Broadcasting, Inc.5.625% 07/15/20270.1%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.1%
Enterprise Development Authority/The12.000% 07/15/20240.1%
Range Resources Corp.5.000% 08/15/20220.1%
Helix Gen Funding, LLC5.452% 06/03/20240.1%
Mattel, Inc.5.450% 11/01/20410.1%
IRB Holding Corp6.750% 02/15/20260.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
Match Group, Inc.5.000% 12/15/20270.1%
Transocean Poseidon Ltd6.875% 02/01/20270.1%
Molina Healthcare, Inc.4.875% 06/15/20250.1%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.1%
Hub International Ltd.7.000% 05/01/20260.1%
Freeport-McMoRan, Inc.3.875% 03/15/20230.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
BBCMS 2019-BWAY Mortgage Trust3.110% 11/25/20340.1%
Centennial Resource Production LLC6.875% 04/01/20270.1%
Sprint Capital Corp.6.875% 11/15/20280.1%
Genworth Holdings Inc4.900% 08/15/20230.1%
Geo Group, Inc.6.000% 04/15/20260.1%
Peru Government Bond5.400% 08/12/20340.1%
Indigo Natural Resources LLC6.875% 02/15/20260.1%
SM Energy Co.6.750% 09/15/20260.1%
Ashtead Capital, Inc.4.250% 11/01/20290.1%
MEG Energy Corp.6.500% 01/15/20250.1%
GLP Capital L.P. / GLP Financing II, Inc.5.750% 06/01/20280.1%
CNO Financial Group, Inc.5.250% 05/30/20250.1%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.1%
Pulte Group, Inc.5.500% 03/01/20260.1%
AHP Health Partners Inc9.750% 07/15/20260.1%
Kingdom of Belgium Government Bond1.600% 06/22/20470.1%
Toll Brothers Finance Corp.4.875% 03/15/20270.1%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.1%
Energizer Holdings, Inc.6.375% 07/15/20260.1%
Weight Watchers International, Inc.8.625% 12/01/20250.1%
Williams Scotsman International Inc7.875% 12/15/20220.1%
NGPL Pipeco LLC4.875% 08/15/20270.1%
Cloud Crane LLC10.125% 08/01/20240.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
Century Communities, Inc.5.875% 07/15/20250.1%
Buena Vista Gaming Authority13.000% 04/01/20230.0%
Western Digital Corp.4.750% 02/15/20260.0%
Barminco Finance Pty Ltd.6.625% 05/15/20220.0%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.0%
Tronox Inc6.500% 04/15/20260.0%
Hadrian Merger Sub Inc8.500% 05/01/20260.0%
Surgery Center Holdings, Inc.6.750% 07/01/20250.0%
Rain CII Carbon LLC7.250% 04/01/20250.0%
West Street Merger Sub Inc6.375% 09/01/20250.0%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.0%
Fresh Market, Inc.9.750% 05/01/20230.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
FX GBP/USD 12/190.000% 12/11/20190.0%
FX USD/AUD 01/200.000% 01/31/20200.0%
General Electric Co.3.100% 01/09/20230.0%
General Electric Co.3.450% 05/15/20240.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
FX USD/PEN 01/200.000% 01/27/20200.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
FX USD/HUF 01/200.000% 01/27/20200.0%
FX USD/BRL 12/190.000% 12/10/20190.0%
FX TRY/USD 01/200.000% 01/24/20200.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
FX USD/MYR 02/200.000% 02/06/20200.0%
FX RUB/USD 12/190.000% 12/11/20190.0%
FX USD/JPY 01/200.000% 01/31/20200.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
FX USD/CAD 12/190.000% 12/18/20190.0%
Credit Index Swap1.000% 12/20/20240.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
FX USD/TWD 01/200.000% 01/30/20200.0%
FX CNH/USD 02/200.000% 02/04/20200.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
FX SEK/USD 01/200.000% 01/27/20200.0%
FX MXN/USD 12/190.000% 12/13/20190.0%
FX USD/IDR 12/190.000% 12/17/20190.0%
US 2YR NOTE (CBT) MAR200.000% 04/03/20200.0%
US 5YR NOTE (CBT) MAR200.000% 04/03/20200.0%
FX NZD/USD 01/200.000% 01/28/20200.0%
FX CAD/USD 12/190.000% 12/18/20190.0%
FX USD/THB 01/200.000% 01/27/20200.0%
FX USD/GBP 12/190.000% 12/11/20190.0%
FX USD/ZAR 12/190.000% 12/11/20190.0%
FX CHF/USD 01/200.000% 01/31/20200.0%
FX EUR/USD 12/190.000% 12/09/20190.0%
FX KRW/USD 02/200.000% 02/27/20200.0%
FX EUR/USD 12/190.000% 12/09/20190.0%
FX EUR/USD 12/190.000% 12/09/20190.0%
FX COP/USD 01/200.000% 01/27/20200.0%
FX JPY/USD 01/200.000% 01/31/2020-0.1%
FX USD/GBP 12/190.000% 12/11/2019-0.2%

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

Sales Charge Schedule as of 01/24/2020

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $10.37
$100,000 to $249,999 1.75% 1.50% $10.32
$250,000 to $499,999 1.25% 1.00% $10.27
$500,000 to $999,999 0.00% 1.00% $10.14
$1,000,000 to $5,000,000 0.00% 1.00% $10.14

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 12/31/2019

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
Publish Date:11/03/2015
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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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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.      

                    

 

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.

 

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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