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Global Bond Fund

Daily price w/o sales charge as of 04/03/2020

$9.18

arrowDown$0.03

YTD Returns w/o sales charge as of 04/03/2020

-8.62%

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 04/03/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.40% 1.41%
w/ sales charge 3.32% 1.38%

30-Day Standardized Yield 2 as of 02/29/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.98% 0.22%

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

Expense Ratioas of 02/29/2020

Expense ratio details, Click here.

Fund Basicsas of 02/28/2020

Total Net Assets
$10.91 M
Inception Date
08/01/2018
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
346
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 -7.75% -3.25% - - - -0.90%
Lipper Category Avg. Global Income Funds - - - - - -
Bloomberg Barclays Global Aggregate Index -0.33% 4.20% - - - 4.12%
w/ sales charge -9.80% -5.44% - - - -2.24%

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

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 -7.75% -3.25% - - - -0.90%
Lipper Category Avg. Global Income Funds - - - - - -
Bloomberg Barclays Global Aggregate Index -0.33% 4.20% - - - 4.12%
w/ sales charge -9.80% -5.44% - - - -2.24%

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

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 -7.75% -3.25% - - - -0.90%
Lipper Category Avg. Global Income Funds - - - - - -
Bloomberg Barclays Global Aggregate Index -0.33% 4.20% - - - 4.12%
w/ sales charge -9.80% -5.44% - - - -2.24%

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

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 -7.75% -3.25% - - - -0.90%
Lipper Category Avg. Global Income Funds - - - - - -
Bloomberg Barclays Global Aggregate Index -0.33% 4.20% - - - 4.12%
w/ sales charge -9.80% -5.44% - - - -2.24%

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

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 -7.75% - - - -8.60%
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
Sovereign Developed
US Corp High Grade
US Corp High Yield
Govt
Non-US Corp High Yield
MBS Passthrough
Sovereign Emerging
ABS
Currency
MBS Other
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 02/28/2020

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 02/28/2020

Total Net Assets
$10.91 M
Number of Issues
346
Average Coupon
3.91%
Average Life
8.1 Years
Average Maturity
10.51 Years
Average Effective Duration
6.34 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 MAR 3.500% 06/01/2049 3.4%
30-YR UMBS-TBA PROD APR 3.000% 05/01/2049 3.4%
Country Garden Holdings Co. Ltd. 4.750% 01/17/2023 1.9%
U.S. Treasury Note/Bond 2.750% 11/15/2047 1.7%
China Development Bank 3.480% 01/08/2029 1.5%
U.S. Treasury Note/Bond 1.500% 02/15/2030 1.4%
CPUK Finance Ltd 3.588% 08/28/2025 1.3%
China Development Bank 3.420% 07/02/2024 1.3%
Pinewood Finance Co Ltd 3.250% 09/30/2025 1.2%
UniCredit S.p.A. 6.950% 10/31/2022 1.2%
% of Total Assets 18.3%
Holding Coupon Maturity Assets
30-YR UMBS-TBA PROD MAR3.500% 06/01/20493.4%
30-YR UMBS-TBA PROD APR3.000% 05/01/20493.4%
Country Garden Holdings Co. Ltd.4.750% 01/17/20231.9%
U.S. Treasury Note/Bond2.750% 11/15/20471.7%
China Development Bank3.480% 01/08/20291.5%
U.S. Treasury Note/Bond1.500% 02/15/20301.4%
CPUK Finance Ltd3.588% 08/28/20251.3%
China Development Bank3.420% 07/02/20241.3%
Pinewood Finance Co Ltd3.250% 09/30/20251.2%
UniCredit S.p.A.6.950% 10/31/20221.2%
Comcast Corp.1.500% 02/20/20291.2%
AA Bond Co Ltd2.750% 07/31/20231.2%
Kerry Group Financial Services Unltd Co2.375% 09/10/20251.2%
Bacardi Ltd.2.750% 07/03/20231.1%
Cassa Depositi e Prestiti SpA2.125% 09/27/20231.1%
Mclaren Finance PLC5.000% 08/01/20221.1%
Newell Rubbermaid, Inc.3.750% 10/01/20211.1%
Netflix, Inc.3.875% 11/15/20291.1%
Aroundtown SA1.450% 07/09/20281.1%
Credit Suisse Group AG1.250% 07/17/20251.1%
Ubisoft Entertainment SA1.289% 01/30/20231.1%
Japan Government Two Year Bond0.100% 02/01/20221.0%
Japan Government Twenty Year Bond1.400% 09/20/20341.0%
U.S. Treasury Note/Bond3.625% 08/15/20431.0%
U.S. Treasury Note0.500% 04/15/20241.0%
Lincoln Financing SARL3.625% 04/01/20241.0%
Q-Park Holding I BV2.000% 03/01/20271.0%
AT&T, Inc.2.875% 02/18/21701.0%
RCS & RDS SA3.250% 02/05/20281.0%
Carnival plc1.000% 10/28/20291.0%
Lloyds Bank plc6.500% 09/14/20201.0%
Sigma Holdco BV5.750% 05/15/20261.0%
United Kingdom Gilt1.500% 07/22/20471.0%
Wingstop Funding 2018-1 LLC4.970% 12/05/20481.0%
NBCUniversal Enterprise, Inc.5.250% 06/19/20991.0%
Perimeter Master Note Business Trust4.230% 05/15/20241.0%
Intrum Justitia AB3.000% 09/15/20271.0%
CPS Auto Receivables Trust 2016-C5.920% 06/15/20221.0%
Residential Mortgage Loan Trust 2020-12.376% 02/25/20240.9%
Verus Securitization Trust 2020-12.417% 01/25/20600.9%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.9%
American Express Credit Account Master Trust2.670% 10/17/20220.9%
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%
U.S. Treasury Note/Bond4.500% 02/15/20360.8%
United Kingdom Gilt1.625% 10/22/20280.8%
China Development Bank3.680% 02/26/20260.8%
U.S. Treasury Note/Bond2.000% 02/15/20500.8%
Japan Government Twenty Year Bond0.400% 03/20/20390.8%
French Republic Government Bond OAT2.000% 05/25/20480.8%
U.S. Treasury Note/Bond4.375% 05/15/20400.8%
Wells Fargo & Co.3.473% 03/04/20210.7%
Japan Government Thirty Year Bond0.400% 06/20/20490.7%
City of Toronto Canada3.900% 09/29/20230.7%
ESB Finance DAC6.500% 03/05/20200.6%
EUROFIMA3.900% 12/19/20250.6%
Chesapeake Funding II LLC2.028% 08/15/20300.6%
Brazil Notas do Tesouro Nacional Serie F10.000% 01/01/20290.6%
African Development Bank Group3.350% 08/08/20280.6%
Cox Communications, Inc.8.375% 03/01/20390.5%
United Kingdom Gilt1.750% 09/07/20370.5%
Macquarie Group Ltd.3.763% 11/28/20280.5%
Brightsphere Investment Group Inc4.800% 07/27/20260.5%
Macquarie Bank Ltd.6.625% 04/07/20210.5%
ME Funding LLC 2019-16.448% 07/30/20490.5%
Indonesia Treasury Bond8.375% 03/15/20240.5%
Goldman Sachs Group, Inc.5.250% 07/27/20210.5%
Spain Government Bond1.850% 07/30/20350.5%
Marathon Petroleum Corp.5.375% 10/01/20220.5%
Province of Saskatchewan Canada4.750% 06/01/20400.5%
Citigroup, Inc.3.484% 03/30/20210.5%
City of Montreal Canada4.250% 12/01/20320.5%
Morgan Stanley3.146% 01/20/20220.5%
Bank of America Corp.2.369% 07/21/20210.5%
Italy Buoni Poliennali Del Tesoro2.450% 09/01/20330.5%
South Africa Government Bond8.750% 02/28/20480.5%
United Kingdom Gilt4.250% 12/07/20270.4%
International Finance Corp.4.250% 08/21/20230.4%
Queensland Treasury Corp.1.750% 08/21/20310.4%
JP Morgan Chase Commercial Mortgage Securities Tru2.659% 06/15/20320.4%
British Telecommunications plc8.625% 03/26/20200.4%
United Kingdom Gilt0.750% 07/22/20230.4%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.4%
Brazil Letras do Tesouro Nacional0.000% 07/01/20220.4%
CSAIL 2016-C7 Commercial Mortgage Trust4.387% 11/15/20490.4%
Italy Buoni Poliennali Del Tesoro3.850% 09/01/20490.4%
Neuberger Berman Group LLC4.875% 04/15/20450.4%
Toronto Hydro Corp3.540% 11/18/20210.4%
Spain Government Bond1.450% 04/30/20290.3%
Ecopetrol S.A.5.875% 05/28/20450.3%
General Motors Co.6.750% 04/01/20460.3%
French Republic Government Bond OAT4.500% 04/25/20410.3%
Origin Energy Finance Ltd.5.450% 10/14/20210.3%
Federal National Mortgage Assoc.4.000% 01/01/20480.3%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.3%
Continental Resources, Inc.5.000% 09/15/20220.3%
Dell International LLC / EMC Corp.8.350% 07/15/20460.3%
COMM Mortgage Trust4.435% 07/10/20500.3%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.3%
Italy Buoni Poliennali Del Tesoro1.350% 04/01/20300.3%
Telstra Corp., Ltd.7.750% 07/15/20200.3%
Netflix, Inc.5.875% 02/15/20250.3%
Bahamas Government International Bond6.950% 11/20/20290.3%
Swedbank Hypotek AB1.000% 09/18/20240.3%
U.S. Treasury Note/Bond1.125% 02/28/20250.3%
Republic of Turkey7.375% 02/05/20250.3%
Republic of Turkey6.875% 03/17/20360.3%
MPLX L.P.3.002% 09/09/20210.3%
Petroleos Mexicanos5.350% 02/12/20280.3%
Federal Home Loan Mortgage Corp.4.000% 10/01/20490.3%
United Kingdom Gilt2.000% 07/22/20200.3%
BAT Capital Corp2.790% 08/15/20220.3%
Patrick Industries, Inc.7.500% 10/15/20270.3%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.3%
Great Wolf Trust 2019-WOLF2.693% 12/15/20360.3%
COMM Mortgage Trust4.435% 07/10/20500.3%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.3%
Indonesia Treasury Bond8.375% 03/15/20340.3%
Valero Energy Corp.10.500% 03/15/20390.3%
Numericable Group S.A.7.375% 05/01/20260.2%
PPL WEM Ltd./Western Power Distribution Ltd.5.375% 05/01/20210.2%
United Mexican States, MTN4.750% 03/08/20440.2%
RBS Global & Rexnord Corp.4.875% 12/15/20250.2%
Hungary Government Bond3.000% 08/21/20300.2%
General Electric Co.2.801% 04/15/20200.2%
BA Credit Card Trust1.950% 08/15/20220.2%
Hyundai Capital America3.450% 03/12/20210.2%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.2%
BX Trust 2019-OC113.202% 12/09/20410.2%
Trimble Navigation Ltd.4.900% 06/15/20280.2%
Goldman Sachs Group, Inc.6.750% 10/01/20370.2%
TransDigm, Inc.6.250% 03/15/20260.2%
Santander Drive Auto Receivables Trust 2018-34.070% 08/15/20240.2%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.2%
DKT Finance ApS9.375% 06/17/20230.2%
JP Morgan Chase Commercial Mortgage Securities Tru4.659% 06/15/20350.2%
Navient Corp.6.750% 06/25/20250.2%
Fibria Overseas Finance Ltd.5.250% 05/12/20240.2%
Empresas Publicas de Medellin ESP8.375% 11/08/20270.2%
AMC Networks, Inc.4.750% 08/01/20250.2%
William Carter Co.5.625% 03/15/20270.2%
Egypt Government Bond15.700% 11/07/20270.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Gray Television, Inc.7.000% 05/15/20270.2%
TRI Pointe Homes LLC5.250% 06/01/20270.2%
CF Industries, Inc.5.150% 03/15/20340.2%
JP Morgan Chase Commercial Mortgage Securities Tru2.959% 06/15/20320.2%
WeWork Cos Inc7.875% 05/01/20250.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.2%
DISH DBS Corp.7.750% 07/01/20260.2%
Popular, Inc.6.125% 09/14/20230.2%
Presidio Holdings Inc4.875% 02/01/20270.2%
Buckeye Partners L.P.6.375% 01/22/20780.2%
Century Communities, Inc.6.750% 06/01/20270.2%
JB Poindexter & Co., Inc.7.125% 04/15/20260.2%
Drive Auto Receivables Trust3.660% 11/15/20240.2%
BWAY Holding Co.7.250% 04/15/20250.1%
Ingevity Corp.4.500% 02/01/20260.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
Penn National Gaming, Inc.5.625% 01/15/20270.1%
Panther BF Aggregator 2 LP / Panther Finance Co In8.500% 05/15/20270.1%
Drive Auto Receivables Trust3.360% 10/17/20220.1%
Itron, Inc.5.000% 01/15/20260.1%
EW Scripps Co.5.125% 05/15/20250.1%
AmeriCredit Automobile Receivables 2015-43.720% 12/08/20210.1%
Scientific Games International, Inc.7.250% 11/15/20290.1%
Intelsat Jackson Holdings SA5.500% 08/01/20230.1%
Centene Corp.3.375% 02/15/20300.1%
Laredo Petroleum Holdings, Inc.9.500% 01/15/20250.1%
FX JPY/USD 04/200.000% 04/30/20200.1%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.1%
MEG Energy Corp.7.125% 02/01/20270.1%
Signature Aviation US Holdings Inc4.000% 03/01/20280.1%
Leidos, Inc.7.125% 07/01/20320.1%
FX USD/GBP 03/200.000% 03/05/20200.1%
Mattel, Inc.5.450% 11/01/20410.1%
Oasis Petroleum, Inc.6.875% 03/15/20220.1%
Ashland, Inc.6.875% 05/15/20430.1%
MEDNAX, Inc.6.250% 01/15/20270.1%
EPR Properties4.950% 04/15/20280.1%
Newell Rubbermaid, Inc.5.625% 04/01/20360.1%
Clearway Energy Operating LLC4.750% 03/15/20280.1%
Surgery Center Holdings, Inc.10.000% 04/15/20270.1%
New Gold, Inc.6.250% 11/15/20220.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
Optiv Sec, Inc.4.853% 02/01/20240.1%
Geo Group, Inc.6.000% 04/15/20260.1%
Rite Aid Corp.6.125% 04/01/20230.1%
Playtika Holding Corp7.603% 12/03/20240.1%
Tesla Motors, Inc.5.300% 08/15/20250.1%
Boyd Gaming Corp.4.750% 12/01/20270.1%
BBCMS 2019-BWAY Mortgage Trust2.615% 11/25/20340.1%
Exgen Renewables IV, LLC4.620% 11/28/20240.1%
Valeant Pharmaceuticals International, Inc.5.250% 01/30/20300.1%
Titan Sub LLC6.603% 09/19/20260.1%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.1%
Minotaur Acquisition Inc6.603% 02/27/20260.1%
Navicure Inc5.603% 09/18/20260.1%
Beazer Homes USA, Inc.7.250% 10/15/20290.1%
Sprint Capital Corp.6.875% 11/15/20280.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
Parexel Intl Corp.4.353% 09/27/20240.1%
Hayward Acquisition Corp.5.103% 08/05/20240.1%
DG Investment Intermediate Holdings 2, Inc. (aka Convergint Technologies Holdings, LLC)4.603% 02/03/20250.1%
Select Medical Corp.6.250% 08/15/20260.1%
Uber Technologies Inc8.000% 11/01/20260.1%
Helix Gen Funding, LLC5.353% 06/03/20240.1%
Medallion Midland4.853% 10/31/20240.1%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.1%
Forterra, Inc.4.603% 10/25/20230.1%
Adient US LLC7.000% 05/15/20260.1%
Advisor Group Holdings Inc10.750% 08/01/20270.1%
Twin River Worldwide Holdings Inc6.750% 06/01/20270.1%
Univision Communications Inc.4.353% 03/15/20240.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
ProAmpac PG Borrower LLC5.210% 11/20/20230.1%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.1%
TIBCO Software, Inc.11.375% 12/01/20210.1%
Masonite International Corp.5.375% 02/01/20280.1%
Tenet Healthcare Corp.6.250% 02/01/20270.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
General Electric Co.6.150% 08/07/20370.1%
United Rentals, Inc.5.500% 05/15/20270.1%
Match Group, Inc.5.000% 12/15/20270.1%
NRG Energy, Inc.5.750% 01/15/20280.1%
Enterprise Development Authority/The12.000% 07/15/20240.1%
MPH Acquisition Holdings LLC7.125% 06/01/20240.1%
Freeport-McMoRan, Inc.4.125% 03/01/20280.1%
Nexstar Broadcasting, Inc.5.625% 07/15/20270.1%
PetSmart, Inc.5.660% 03/11/20220.1%
Lower Cadence Holdings L5.603% 05/08/20260.1%
Springleaf Finance Corp.5.375% 11/15/20290.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.1%
NEP/NCP Holdco Inc4.853% 10/05/20250.1%
Kraft Heinz Foods Co.4.375% 06/01/20460.1%
W&T Offshore, Inc.9.750% 11/01/20230.1%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.1%
United Natural Foods Inc5.853% 10/22/20250.1%
Griffon Corp.5.750% 03/01/20280.1%
BBCMS 2019-BWAY Mortgage Trust2.969% 11/25/20340.1%
Murphy Oil Corp.5.875% 12/01/20270.1%
Nomad Buyer, Inc.6.659% 08/01/20250.1%
Mattamy Group Corp.4.625% 03/01/20300.1%
Transocean, Inc.7.250% 11/01/20250.1%
Peru Government Bond5.400% 08/12/20340.1%
Centennial Resource Production LLC6.875% 04/01/20270.1%
Viking Cruises Ltd.5.875% 09/15/20270.1%
MEG Energy Corp.7.000% 03/31/20240.1%
Callon Petroleum Co.6.375% 07/01/20260.1%
Indigo Natural Resources LLC6.875% 02/15/20260.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
SM Energy Co.6.750% 09/15/20260.1%
Shea Homes LP / Shea Homes Funding Corp.4.750% 02/15/20280.1%
Spain Government Bond2.700% 10/31/20480.1%
Radiology Partners Inc9.250% 02/01/20280.1%
Builders FirstSource, Inc.5.000% 03/01/20300.1%
Hecla Mining Co.7.250% 02/15/20280.1%
Presidio Holdings Inc8.250% 02/01/20280.1%
AG Issuer LLC6.250% 03/01/20280.1%
GLP Capital L.P. / GLP Financing II, Inc.5.750% 06/01/20280.1%
CNO Financial Group, Inc.5.250% 05/30/20250.1%
Pulte Group, Inc.5.500% 03/01/20260.1%
Nabors Industries Ltd.7.500% 01/15/20280.1%
Toll Brothers Finance Corp.4.875% 03/15/20270.1%
AHP Health Partners Inc9.750% 07/15/20260.1%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.1%
NGPL Pipeco LLC4.875% 08/15/20270.1%
Cloud Crane LLC10.125% 08/01/20240.0%
Weight Watchers International, Inc.8.625% 12/01/20250.0%
Clearway Energy Operating LLC5.750% 10/15/20250.0%
Century Communities, Inc.5.875% 07/15/20250.0%
Hadrian Merger Sub Inc8.500% 05/01/20260.0%
Buena Vista Gaming Authority13.000% 04/01/20230.0%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.0%
Barminco Finance Pty Ltd.6.625% 05/15/20220.0%
Lithia Motors, Inc.4.625% 12/15/20270.0%
Western Digital Corp.4.750% 02/15/20260.0%
West Street Merger Sub Inc6.375% 09/01/20250.0%
Valeant Pharmaceuticals International, Inc.5.000% 01/30/20280.0%
Surgery Center Holdings, Inc.6.750% 07/01/20250.0%
Rain CII Carbon LLC7.250% 04/01/20250.0%
Tronox Inc6.500% 04/15/20260.0%
Citgo Holding, Inc.9.250% 08/01/20240.0%
Carrier Global Corp3.577% 04/05/20500.0%
FX USD/GBP 03/200.000% 03/05/20200.0%
Front Range BidCo Inc6.125% 03/01/20280.0%
Fresh Market, Inc.9.750% 05/01/20230.0%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.0%
FX USD/AUD 04/200.000% 04/30/20200.0%
FX USD/BRL 03/200.000% 03/06/20200.0%
FX USD/PEN 04/200.000% 04/24/20200.0%
FX USD/ZAR 03/200.000% 03/11/20200.0%
FX EUR/USD 03/200.000% 03/09/20200.0%
FX USD/THB 04/200.000% 04/27/20200.0%
FX USD/NZD 04/200.000% 04/28/20200.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
FX USD/ZAR 03/200.000% 03/11/20200.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
FX USD/BRL 03/200.000% 03/06/20200.0%
Leidos, Inc.5.500% 07/01/20330.0%
FX USD/THB 04/200.000% 04/09/20200.0%
FX USD/IDR 03/200.000% 03/13/20200.0%
FX USD/GBP 03/200.000% 03/05/20200.0%
FX KRW/USD 05/200.000% 05/26/20200.0%
FX USD/TWD 04/200.000% 04/21/20200.0%
FX USD/IDR 03/200.000% 03/13/20200.0%
FX CHF/USD 04/200.000% 04/30/20200.0%
FX CNH/USD 05/200.000% 05/06/20200.0%
FX USD/CAD 03/200.000% 03/05/20200.0%
FX USD/HUF 04/200.000% 04/27/20200.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.0%
FX USD/CNH 05/200.000% 05/06/20200.0%
FX EUR/USD 03/200.000% 03/09/20200.0%
FX USD/EUR 03/200.000% 03/05/20200.0%
FX EUR/USD 03/200.000% 03/05/20200.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
US 5YR NOTE (CBT) JUN200.000% 07/06/20200.0%
FX CAD/USD 03/200.000% 03/05/20200.0%
FX EUR/USD 03/200.000% 03/09/20200.0%
FX SEK/USD 04/200.000% 04/27/20200.0%
FX USD/JPY 04/200.000% 04/30/20200.0%
FX THB/USD 04/200.000% 04/09/20200.0%
FX EUR/USD 03/200.000% 03/09/20200.0%
FX EUR/USD 03/200.000% 03/09/20200.0%
FX USD/COP 04/200.000% 04/24/20200.0%
FX MXN/USD 03/200.000% 03/17/20200.0%
FX INR/USD 04/200.000% 04/13/20200.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
FX CAD/USD 03/200.000% 03/13/20200.0%
FX EUR/USD 03/200.000% 03/09/20200.0%
FX EUR/USD 03/200.000% 03/09/20200.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
FX RUB/USD 03/200.000% 03/11/20200.0%
FX USD/JPY 04/200.000% 04/30/20200.0%
FX EUR/USD 03/200.000% 03/09/20200.0%
FX ZAR/USD 03/200.000% 03/11/20200.0%
FX GBP/USD 03/200.000% 03/05/20200.0%
FX MXN/USD 03/200.000% 03/17/20200.0%
FX COP/USD 04/200.000% 04/24/20200.0%
FX TRY/USD 04/200.000% 04/24/20200.0%
FX NZD/USD 04/200.000% 04/28/20200.0%
FX NOK/USD 03/200.000% 03/11/20200.0%
Credit Index Swap1.000% 12/20/2024-0.3%

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 04/03/2020

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $9.39
$100,000 to $249,999 1.75% 1.50% $9.34
$250,000 to $499,999 1.25% 1.00% $9.30
$500,000 to $999,999 0.00% 1.00% $9.18
$1,000,000 to $5,000,000 0.00% 1.00% $9.18

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 02/29/2020

Expense ratio details, Click here.

Fund Documents

Fund Documents

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Summary 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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* 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.

 

+

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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