LOGVX | Income Fund Class F3 | Lord Abbett

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Income Fund

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Daily price w/o sales charge as of 05/20/2022

$2.57

arrowUp$0.01

YTD Returns w/o sales charge as of 05/20/2022

-11.06%

Overall Morningstar Ratings

Corporate Bond
as of 04/30/2022

Morningstar rated the Lord Abbett Income Fund class F3 share 4 and 4 stars among 191 and 165 Corporate Bond Funds for the overall rating and the 3 and 5 year periods ended 4/30/2022, respectively.

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 Income Fund?

The Fund seeks to deliver a high level of current income by investing primarily in a wide range of investment grade fixed income securities. 
 

FOCUS ON CORPORATE CREDIT

The investment team focuses on corporate bonds, diversified with select mortgage, high yield and non-U.S. securities to provide the opportunity for attractive total return.

BUILT ON INTENSIVE RESEARCH

The strategy employs quantitative and fundamental research to drive sector rotation and security selection.

IDENTIFY INCOME

The investment process identifies fixed-income sectors and securities with attractive valuations to provide the opportunity to deliver income.

 

Yield

Dividend Yield 1 as of 05/20/2022  

w/o sales charge 3.84%

30-Day Standardized Yield 2 as of 04/30/2022  

3.86%

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

Fund Basicsas of 03/31/2022

Total Net Assets
$2.95 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.45%
Number of Holdings
380

Fund Expense Ratio :

0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -10.22% -7.68% 1.78% 2.49% 3.72% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -11.72% -9.85% 1.08% 1.88% 2.76% -
Bloomberg U.S. Credit Bond Index -12.27% -10.13% 0.81% 1.87% 2.75% -

Fund Expense Ratio :

0.45%

Fund Expense Ratio :

0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -6.37% -2.47% 3.46% 3.64% 4.27% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -7.08% -4.06% 3.00% 3.12% 3.47% -
Bloomberg U.S. Credit Bond Index -7.42% -4.16% 2.81% 3.18% 3.44% -

Fund Expense Ratio :

0.45%

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.

Type Assets
Investment Grade Corporate
High Yield Corporate
Bank Loans
U.S. Government Related
CMBS
CLO
ABS
MBS
Sovereign
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity 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 03/31/2022 View Portfolio

Rating Assets
U.S. Treasury
AAA
AA
A
BBB
<BBB
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 median, but if there are only two ratings, the lower rating is used. 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.

INVESTMENT TEAM

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

Partner & Portfolio Manager

23 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

30 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

27 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

20 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Managing Director, Portfolio Manager

18 Years of Industry Experience

Eric P. Kang
Eric P. Kang

Portfolio Manager

22 Years of Industry Experience

Supported By 68 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 05/20/2022  

w/o sales charge 3.84%

30-Day Standardized Yield 2 as of 04/30/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.86% 3.86%

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

Fund Expense Ratio :

0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -10.22% -7.68% 1.78% 2.49% 3.72% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -11.72% -9.85% 1.08% 1.88% 2.76% -
Bloomberg U.S. Credit Bond Index -12.27% -10.13% 0.81% 1.87% 2.75% -

Fund Expense Ratio :

0.45%

Fund Expense Ratio :

0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -6.37% -2.47% 3.46% 3.64% 4.27% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -7.08% -4.06% 3.00% 3.12% 3.47% -
Bloomberg U.S. Credit Bond Index -7.42% -4.16% 2.81% 3.18% 3.44% -

Fund Expense Ratio :

0.45%

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 U.S. Credit Bond Index
2021 1.58% -1.08%
2020 8.25% 9.35%
2019 13.22% 13.80%
2018 -2.41% -2.11%
2017 7.25% 6.18%
2016 9.06% 5.63%
2015 -2.81% -0.77%
2014 7.54% 7.53%
2013 0.57% -2.01%
2012 12.84% 9.37%
2011 6.85% -
2010 11.58% -
2009 30.90% -
2008 -10.13% -
2007 7.07% -
2006 - -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -6.37% - - - -11.05%
2021 -2.48% 3.59% 0.48% 0.08% 1.58%
2020 -9.04% 11.09% 3.05% 3.95% 8.25%
2019 5.27% 3.61% 2.44% 1.34% 13.22%
2018 -1.42% -0.69% 0.74% -1.06% -2.41%
2017 2.05% 2.38% 1.32% 1.31% 7.25%
2016 3.14% 4.44% 2.83% -1.53% 9.06%
2015 1.90% -1.65% -2.02% -1.01% -2.81%
2014 3.79% 3.71% -0.11% 0.01% 7.54%
2013 1.28% -3.45% 1.00% 1.84% 0.57%
2012 3.85% 1.36% 4.77% 2.32% 12.84%
2011 2.10% 2.42% -0.36% 2.55% 6.85%
2010 3.83% 1.88% 5.48% 0.00% 11.58%
2009 3.23% 12.96% 9.72% 2.32% 30.90%
2008 1.27% 0.26% -5.95% -5.90% -10.13%
2007 1.26% -0.76% 3.25% 3.19% 7.07%
2006 - - - 0.86% -

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
Investment Grade Corporate
High Yield Corporate
Bank Loans
U.S. Government Related
CMBS
CLO
ABS
MBS
Sovereign
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity 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 03/31/2022

Rating Assets
U.S. Treasury
AAA
AA
A
BBB
<BBB
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 median, but if there are only two ratings, the lower rating is used. 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 Details as of 03/31/2022

Total Net Assets
$2.95 B
Number of Issues
380
Average Coupon
3.98%
Average Life
8.46 Years
Average Maturity
8.43 Years
Average Effective Duration
6.73 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Life - Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security.  Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.

Average 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
United States Treasury Note/Bond 2.375% 02/15/2042 4.8%
United States Treasury Note/Bond 1.875% 02/15/2032 2.0%
United States Treasury Note/Bond 2.250% 02/15/2052 1.9%
Setanta Aircraft Leasing DAC 3.006% 11/05/2028 1.4%
Seminole Tribe of Florida Inc 2.207% 07/08/2024 1.3%
United States Treasury Note/Bond 2.500% 03/31/2027 1.3%
JBS USA LUX SA 2.804% 05/01/2026 1.1%
Broadcom Inc 4.150% 11/15/2030 1.0%
Continental Resources Inc/OK 5.750% 01/15/2031 0.9%
Murphy USA Inc 2.250% 01/31/2028 0.9%
% of Total Assets 16.6%
Holding Coupon Maturity Assets
United States Treasury Note/Bond2.375% 02/15/20424.8%
United States Treasury Note/Bond1.875% 02/15/20322.0%
United States Treasury Note/Bond2.250% 02/15/20521.9%
Setanta Aircraft Leasing DAC3.006% 11/05/20281.4%
Seminole Tribe of Florida Inc2.207% 07/08/20241.3%
United States Treasury Note/Bond2.500% 03/31/20271.3%
JBS USA LUX SA2.804% 05/01/20261.1%
Broadcom Inc4.150% 11/15/20301.0%
Continental Resources Inc/OK5.750% 01/15/20310.9%
Murphy USA Inc2.250% 01/31/20280.9%
Pacific Gas and Electric Co4.550% 07/01/20300.9%
Avolon TLB Borrower 1 US LLC2.750% 12/01/20270.8%
Hilton Worldwide Finance LLC2.207% 06/22/20260.8%
General Motors Co6.750% 04/01/20460.7%
NGPL PipeCo LLC4.875% 08/15/20270.7%
Lamar Media Corp1.968% 02/05/20270.7%
Sprint Capital Corp6.875% 11/15/20280.7%
Time Warner Cable LLC7.300% 07/01/20380.7%
Freeport-McMoRan Inc5.250% 09/01/20290.7%
Netflix Inc5.375% 11/15/20290.7%
Constellation Energy Generation LLC6.250% 10/01/20390.6%
Bank of America Corp2.687% 04/22/20320.6%
Dell International LLC / EMC Corp8.350% 07/15/20460.6%
Citigroup Inc2.561% 05/01/20320.6%
Southwestern Energy Co3.301% 06/22/20270.6%
Braskem Netherlands Finance BV4.500% 01/31/20300.6%
Oracle Corp5.375% 07/15/20400.6%
Coinbase Global Inc3.375% 10/01/20280.6%
Churchill Downs Inc2.457% 03/17/20280.5%
Fluor Corp4.250% 09/15/20280.5%
XPO Logistics Inc1.992% 02/24/20250.5%
Puget Energy Inc4.100% 06/15/20300.5%
United Rentals North America Inc3.875% 11/15/20270.5%
Walker & Dunlop Inc2.331% 12/16/20280.5%
Comision Federal de Electricidad4.688% 05/15/20290.5%
NRG Energy Inc4.450% 06/15/20290.5%
UBS AG5.125% 05/15/20240.5%
Alcoa Nederland Holding BV4.125% 03/31/20290.5%
Oracle Corp6.125% 07/08/20390.5%
nVent Finance Sarl4.550% 04/15/20280.5%
Bayer Corp6.650% 02/15/20280.5%
Workday Inc3.800% 04/01/20320.5%
Aircastle Ltd2.850% 01/26/20280.5%
Eni SpA5.700% 10/01/20400.5%
Duquesne Light Holdings Inc2.775% 01/07/20320.4%
Vistra Operations Co LLC3.550% 07/15/20240.4%
Charter Communications Operating LLC / Charter Communications Operating Capital6.484% 10/23/20450.4%
United States Treasury Note/Bond1.500% 01/31/20270.4%
Bank of Ireland Group PLC4.125% 09/19/20270.4%
State of Illinois5.100% 06/01/20330.4%
Danske Bank A/S5.375% 01/12/20240.4%
Centene Corp4.625% 12/15/20290.4%
Oracle Corp2.875% 03/25/20310.4%
Fairstone Financial Issuance Trust I5.162% 10/20/20390.4%
Nielsen Finance LLC2.306% 10/04/20230.4%
NUTRITION BIOSCIENCES INC0.019% 01/17/20250.4%
Southwestern Energy Co5.375% 03/15/20300.4%
Brown & Brown Inc4.200% 03/17/20320.4%
Suzano Austria GmbH3.750% 01/15/20310.4%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.4%
Oglethorpe Power Corp5.950% 11/01/20390.4%
BlueMountain CLO XXVIII Ltd1.741% 04/15/20340.4%
Avis Budget Rental Car Funding AESOP LLC3.710% 08/20/20270.4%
Minejesa Capital BV4.625% 08/10/20300.4%
CNO Financial Group Inc5.250% 05/30/20250.4%
Oleoducto Central SA4.000% 07/14/20270.4%
Glencore Funding LLC2.850% 04/27/20310.4%
EPR Properties4.950% 04/15/20280.4%
Colbun SA3.150% 03/06/20300.4%
America Movil SAB de CV5.375% 04/04/20320.4%
National Australia Bank Ltd3.933% 08/02/20340.4%
Anglo American Capital PLC5.625% 04/01/20300.4%
Goldman Sachs Group Inc/The6.750% 10/01/20370.4%
BankUnited Inc5.125% 06/11/20300.4%
Callon Petroleum Co8.000% 08/01/20280.4%
IPALCO Enterprises Inc4.250% 05/01/20300.4%
Ally Financial Inc8.000% 11/01/20310.4%
Freddie Mac STACR REMIC Trust 2021-HQA41.049% 12/25/20410.3%
Madison Park Funding XVII Ltd1.755% 07/21/20300.3%
Danske Bank A/S0.000% 03/28/20250.3%
Alpek SAB de CV4.250% 09/18/20290.3%
CNO Financial Group Inc5.250% 05/30/20290.3%
Sands China Ltd3.250% 08/08/20310.3%
Viterra Finance BV3.200% 04/21/20310.3%
Minsur SA4.500% 10/28/20310.3%
CSN Resources SA5.875% 04/08/20320.3%
Adani Ports & Special Economic Zone Ltd4.375% 07/03/20290.3%
AES Panama Generation Holdings SRL4.375% 05/31/20300.3%
MPT Operating Partnership LP / MPT Finance Corp4.625% 08/01/20290.3%
Assurant Inc3.700% 02/22/20300.3%
Williams Cos Inc/The8.750% 03/15/20320.3%
MSCI Inc3.250% 08/15/20330.3%
Suncor Energy Inc7.875% 06/15/20260.3%
Occidental Petroleum Corp6.200% 03/15/20400.3%
Centennial Resource Production LLC6.875% 04/01/20270.3%
Lundin Energy Finance BV3.100% 07/15/20310.3%
Freddie Mac Structured Agency Credit Risk Debt Notes0.949% 11/25/20410.3%
One Bryant Park Trust 2019-OBP2.516% 09/15/20540.3%
Qorvo Inc3.375% 04/01/20310.3%
Triton Container International Ltd / TAL International Container Corp3.250% 03/15/20320.3%
BPCE SA3.116% 10/19/20320.3%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.3%
Qorvo Inc4.375% 10/15/20290.3%
Westpac Banking Corp4.110% 07/24/20340.3%
Bain Capital Credit CLO 2017-1 Ltd1.224% 07/20/20300.3%
UBS AG/Stamford CT7.625% 08/17/20220.3%
Burlington Coat Factory Warehouse Corp2.460% 06/24/20280.3%
Romark CLO Ltd1.908% 10/23/20300.3%
DaVita Inc2.207% 08/12/20260.3%
AT&T Inc3.500% 09/15/20530.3%
Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.3%
American Tower Corp2.100% 06/15/20300.3%
Macquarie Bank Ltd3.052% 03/03/20360.3%
Voya CLO 2019-3 Ltd3.391% 10/17/20320.3%
CBAM 2017-1 Ltd4.004% 07/20/20300.3%
Bank of America Corp2.482% 09/21/20360.3%
Occidental Petroleum Corp6.625% 09/01/20300.3%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.3%
Crescent Energy Finance LLC7.250% 05/01/20260.3%
Leidos Inc7.125% 07/01/20320.3%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd1.797% 05/15/20360.3%
Canadian Natural Resources Ltd7.200% 01/15/20320.3%
MEG Energy Corp5.875% 02/01/20290.3%
Navient Corp6.750% 06/25/20250.3%
Time Warner Entertainment Co LP8.375% 07/15/20330.3%
EQT Corp7.500% 02/01/20300.3%
Ready Capital Mortgage Financing 2021-FL5 LLC3.457% 04/25/20380.3%
GLP Capital LP / GLP Financing II Inc5.750% 06/01/20280.3%
Toll Brothers Finance Corp4.875% 03/15/20270.3%
Great Wolf Trust 2019-WOLF1.431% 12/15/20360.3%
Texas Capital Bancshares Inc4.000% 05/06/20310.3%
Discover Bank4.682% 08/09/20280.3%
Charter Communications Operating LLC2.210% 04/30/20250.3%
BFLD 2019-DPLO2.637% 10/15/20340.3%
Morgan Stanley2.484% 09/16/20360.3%
American Airlines 2021-1 Class A Pass Through Trust2.875% 01/11/20360.3%
Rad CLO 7 Ltd1.441% 04/17/20330.3%
Agrosuper SA4.600% 01/20/20320.3%
Bayer US Finance II LLC4.375% 12/15/20280.3%
Cenovus Energy Inc5.375% 07/15/20250.3%
OCP Clo 2019-17 Ltd1.854% 07/20/20320.3%
Ovintiv Inc6.500% 02/01/20380.3%
Flowserve Corp2.800% 01/15/20320.3%
Invitation Homes Operating Partnership LP2.000% 08/15/20310.3%
Protective Life Corp8.450% 10/15/20390.3%
LogMeIn Inc5.218% 08/31/20270.3%
Exeter Automobile Receivables Trust 2020-33.440% 08/17/20260.3%
CROCS INC3.500% 02/17/20290.3%
Hess Corp5.600% 02/15/20410.3%
Lendmark Funding Trust 2019-15.340% 12/20/20270.3%
Carvana Auto Receivables Trust 2019-44.700% 10/15/20260.2%
One New York Plaza Trust 2020-1NYP1.897% 01/15/20360.2%
PulteGroup Inc6.375% 05/15/20330.2%
BNP Paribas SA4.375% 03/01/20330.2%
Syniverse Holdings Inc6.000% 03/09/20230.2%
Westpac Banking Corp2.668% 11/15/20350.2%
CyrusOne LP / CyrusOne Finance Corp2.150% 11/01/20300.2%
Cellnex Finance Co SA3.875% 07/07/20410.2%
Huntington Bancshares Inc/OH2.487% 08/15/20360.2%
CIFC Funding 2021-IV Ltd1.291% 07/15/20330.2%
Trans Union LLC2.207% 11/16/20260.2%
Exeter Automobile Receivables Trust 2020-35.560% 06/15/20270.2%
Avant Loans Funding Trust 2021-REV14.300% 07/15/20300.2%
Invitation Homes Operating Partnership LP1.468% 01/31/20250.2%
PVH Corp7.750% 11/15/20230.2%
Laredo Petroleum Inc10.125% 01/15/20280.2%
Aon Corp8.205% 01/01/20270.2%
Glencore Finance Canada Ltd5.550% 10/25/20420.2%
LoanCore 2022-CRE7 Issuer Ltd1.600% 01/17/20370.2%
Crowdstrike Holdings Inc3.000% 02/15/20290.2%
Rad CLO 2 Ltd1.741% 10/15/20310.2%
FirstEnergy Transmission LLC4.550% 04/01/20490.2%
Comcast Hulu Holdings LLC0.000% 03/15/20240.2%
Wells Fargo & Co3.350% 03/02/20330.2%
NatWest Group PLC3.032% 11/28/20350.2%
United States Steel Corp6.875% 03/01/20290.2%
JPMorgan Chase & Co2.963% 01/25/20330.2%
Delos Finance Sarl2.756% 10/06/20230.2%
CNH Industrial Capital LLC4.375% 04/05/20220.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
Neighborly Issuer 2022-13.695% 01/30/20520.2%
Nabors Industries Ltd7.250% 01/15/20260.2%
Alfa Desarrollo SpA4.550% 09/27/20510.2%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.2%
BX Commercial Mortgage Trust 2019-XL1.847% 10/15/20360.2%
American Tower Corp4.050% 03/15/20320.2%
Halliburton Co7.450% 09/15/20390.2%
VMware Inc4.700% 05/15/20300.2%
Citigroup Commercial Mortgage Trust 2016-P34.888% 04/15/20490.2%
BROADCOM INC4.150% 04/15/20320.2%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.2%
Selective Insurance Group Inc5.375% 03/01/20490.2%
CF Industries Inc5.375% 03/15/20440.2%
NOV Inc3.600% 12/01/20290.2%
FirstEnergy Corp4.400% 07/15/20270.2%
Baytex Energy Corp8.750% 04/01/20270.2%
EPR Properties3.750% 08/15/20290.2%
CF Industries Inc5.150% 03/15/20340.2%
BX Commercial Mortgage Trust 2019-XL2.397% 10/15/20360.2%
Morgan Stanley2.239% 07/21/20320.2%
Berry Petroleum Co LLC7.000% 02/15/20260.2%
AES Corp/The2.450% 01/15/20310.2%
Freddie Mac STACR REMIC Trust 2022-DNA11.949% 01/25/20420.2%
Global Atlantic Fin Co4.700% 10/15/20510.2%
Weatherford International Ltd8.625% 04/30/20300.2%
Lendmark Funding Trust 2021-24.460% 04/20/20320.2%
Steel Dynamics Inc5.000% 12/15/20260.2%
Gulfport Energy Corp8.000% 05/17/20260.2%
Freeport-McMoRan Inc4.250% 03/01/20300.2%
Civitas Resources Inc5.000% 10/15/20260.2%
GS Mortgage Securities Corp Trust 2021-ROSS5.047% 05/15/20260.2%
Mariner Finance Issuance Trust 2021-A5.400% 03/20/20360.2%
BX Commercial Mortgage Trust 2019-XL2.197% 10/15/20360.2%
Oaktree CLO 2019-4 Ltd2.504% 10/20/20320.2%
Octagon Loan Funding Ltd1.668% 11/18/20310.2%
Country Garden Holdings Co Ltd3.875% 10/22/20300.2%
CoStar Group Inc2.800% 07/15/20300.2%
Marble Point CLO XVII Ltd4.004% 04/20/20330.2%
Marble Point CLO XVII Ltd1.554% 04/20/20330.2%
Morgan Stanley5.000% 11/24/20250.2%
Diamondback Energy Inc3.125% 03/24/20310.2%
Lending Funding Trust 2020-26.770% 04/21/20310.2%
Ovintiv Inc6.625% 08/15/20370.2%
Eastern Gas Transmission & Storage Inc4.600% 12/15/20440.2%
Canacol Energy Ltd5.750% 11/24/20280.2%
T-Mobile USA Inc3.500% 04/15/20310.2%
Hertz Vehicle Financing LLC3.980% 12/26/20250.2%
SM Energy Co6.625% 01/15/20270.2%
PFP 2019-6 Ltd2.487% 04/14/20370.2%
Goldman Sachs Group Inc/The2.383% 07/21/20320.2%
Freddie Mac Structured Agency Credit Risk Debt Notes1.899% 11/25/20410.2%
Bank Hapoalim BM3.255% 01/21/20320.2%
Anglo American Capital PLC3.875% 03/16/20290.2%
Barings CLO Ltd 2019-III1.854% 04/20/20310.2%
AMMC CLO 23 Ltd3.291% 10/17/20310.2%
FactSet Research Systems Inc3.450% 03/01/20320.2%
Mountain View CLO 2017-1 LLC1.331% 10/16/20290.1%
Connecticut Avenue Securities Trust 2022-R011.999% 12/25/20410.1%
Toll Brothers Finance Corp3.800% 11/01/20290.1%
CS Master Trust4.449% 04/15/20250.1%
Dell International LLC / EMC Corp3.375% 12/15/20410.1%
BBVA Bancomer SA/Texas5.125% 01/18/20330.1%
Chegg Inc0.000% 09/01/20260.1%
Charter Communications Operating LLC / Charter Communications Operating Capital5.250% 04/01/20530.1%
Flagship Credit Auto Trust 2019-14.080% 02/18/20250.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.1%
Westlake Automobile Receivables Trust 2021-13.910% 09/15/20270.1%
Voya CLO 2018-4 Ltd1.281% 01/15/20320.1%
BX Commercial Mortgage Trust 2019-IMC2.547% 04/15/20340.1%
HCA Inc4.625% 03/15/20520.1%
BBCMS 2019-BWAY Mortgage Trust2.007% 11/15/20340.1%
Continental Finance Credit Card ABS Master Trust3.660% 12/15/20280.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
CSMC 2022-NQM12.265% 11/25/20660.1%
Wind River 2015-2 CLO Ltd2.841% 10/15/20270.1%
Redwood Star Merger Sub Inc8.750% 04/01/20300.1%
Aviation Capital Group LLC3.500% 11/01/20270.1%
BNP Paribas SA4.500% 08/25/21700.1%
Topaz Solar Farms LLC5.750% 09/30/20390.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
Fannie Mae Connecticut Avenue Securities2.099% 11/25/20410.1%
Carlyle Global Market Strategies CLO 2015-5 Ltd2.554% 01/20/20320.1%
First American Financial Corp2.400% 08/15/20310.1%
Comstock Resources Inc5.875% 01/15/20300.1%
T-Mobile USA Inc3.875% 04/15/20300.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Wells Fargo Commercial Mortgage Trust 2015-SG14.455% 09/15/20480.1%
Macquarie Group Ltd2.691% 06/23/20320.1%
American Homes 4 Rent LP2.375% 07/15/20310.1%
FORD MOTOR COMPANY2.200% 12/31/20220.1%
Westpac Banking Corp4.322% 11/23/20310.1%
Angel Oak Mortgage Trust 2021-71.978% 10/25/20660.1%
Penn Virginia Holdings LLC9.250% 08/15/20260.1%
UniCredit SpA5.459% 06/30/20350.1%
National Australia Bank Ltd2.990% 05/21/20310.1%
American Airlines Group Inc3.750% 03/01/20250.1%
Carriage Purchaser Inc7.875% 10/15/20290.1%
PDC Energy Inc5.750% 05/15/20260.1%
Santander Consumer Auto Receivables Trust 2021-A5.790% 08/15/20280.1%
Matador Resources Co5.875% 09/15/20260.1%
Viper Energy Partners LP5.375% 11/01/20270.1%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.1%
IEA Energy Services LLC6.625% 08/15/20290.1%
Duquesne Light Holdings Inc6.250% 08/15/20350.1%
Ally Financial Inc4.700% 08/15/21700.1%
Mohegan Gaming & Entertainment8.000% 02/01/20260.1%
Condor Merger Sub Inc7.375% 02/15/20300.1%
CEC Entertainment LLC6.750% 05/01/20260.1%
Stonegate Pub Co Financing 2019 PLC8.000% 07/13/20250.1%
COMM 2015-PC1 Mortgage Trust4.324% 07/10/20500.1%
LBM Acquisition LLC6.250% 01/15/20290.1%
Sylvamo Corp7.000% 09/01/20290.1%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.1%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.1%
VistaJet Malta Finance PLC / XO Management Holding Inc6.375% 02/01/20300.1%
Bombardier Inc6.000% 02/15/20280.1%
HPLY Trust 2019-HIT1.397% 11/15/20360.1%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.1%
Midcap Financial Issuer Trust6.500% 05/01/20280.1%
Carnival Corp5.750% 03/01/20270.1%
Perimeter Master Note Business Trust4.230% 05/15/20240.1%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
Seaspan Corp5.500% 08/01/20290.1%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.1%
GSK Consumer Healthcare Capital US LLC3.625% 03/24/20320.1%
Mariner Finance Issuance Trust 2021-B4.680% 11/20/20360.1%
ASP Unifrax Holdings Inc7.500% 09/30/20290.1%
Laredo Petroleum Inc7.750% 07/31/20290.1%
Party City Holdings Inc8.750% 02/15/20260.1%
CA Magnum Holdings5.375% 10/31/20260.1%
J.P. Morgan Chase Commercial Mortgage Securities Trust 2017-MARK3.392% 06/05/20320.1%
Park River Holdings Inc5.625% 02/01/20290.1%
Assurant Inc2.650% 01/15/20320.1%
Pike Corp5.500% 09/01/20280.1%
Logan Group Co Ltd4.500% 01/13/20280.1%
Sunac China Holdings Ltd7.000% 07/09/20250.1%
Western Alliance Bancorp3.000% 06/15/20310.1%
CS Master Trust4.574% 04/15/20230.1%
California Resources Corp7.125% 02/01/20260.1%
Southwest Gas Corp4.050% 03/15/20320.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust3.300% 01/30/20320.1%
Tap Rock Resources LLC7.000% 10/01/20260.1%
Leidos Inc4.375% 05/15/20300.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Metropolitan Edison Co4.000% 04/15/20250.1%
Planet Fitness Master Issuer LLC3.858% 12/05/20490.1%
JFIN CLO 2013 Ltd1.644% 01/20/20300.1%
Signal Peak CLO 2 LLC3.104% 04/20/20290.1%
Sri Lanka Government International Bond5.875% 07/25/20220.1%
Macquarie Bank Ltd4.875% 06/10/20250.1%
Benefit Street Partners Clo XII Ltd3.291% 10/15/20300.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
Great Wolf Trust 2019-WOLF3.129% 12/15/20360.1%
Intesa Sanpaolo SpA4.198% 06/01/20320.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
Kosmos Energy Ltd7.750% 05/01/20270.1%
SEB Funding LLC4.969% 01/30/20520.1%
JPMBB Commercial Mortgage Securities Trust 2015-C304.264% 07/15/20480.1%
Peabody Energy Corp6.375% 03/31/20250.1%
Diamondback Energy Inc3.500% 12/01/20290.1%
Morgan Stanley4.431% 01/23/20300.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 06/15/20250.0%
Leidos Holdings Inc5.950% 12/01/20400.0%
Wells Fargo Commercial Mortgage Trust 2013-LC124.305% 07/15/20460.0%
AMMC CLO 24 Ltd2.004% 01/20/20350.0%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.0%
RESORTS WORLD LAS VEGAS LLC1.960% 04/16/20240.0%
VMC Finance 2019-FL3 LLC1.497% 09/15/20360.0%
GS Mortgage Securities Trust 2015-GC324.422% 07/10/20480.0%
Galaxy XXI CLO Ltd1.274% 04/20/20310.0%
Elevation CLO 2014-2 Ltd3.441% 10/15/20290.0%
Helmerich & Payne Inc2.900% 09/29/20310.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
Verus Securitization Trust 2020-12.417% 01/25/20600.0%
Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
Hudsons Bay Simon JV Trust 2015-HBS0.541% 08/05/20340.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.0%
GS Mortgage Securities Trust 2013-GCJ120.519% 06/10/20460.0%
GS Mortgage Securities Trust 2015-GS10.181% 11/10/20480.0%
Merrill Lynch Mortgage Investors Trust Series 2006-AF26.250% 10/25/20360.0%
GS Mortgage Securities Trust 2013-GCJ121.390% 06/10/20460.0%
Government National Mortgage Association0.502% 07/16/20540.0%
FX USD/GBP 06/220.000% 06/07/20220.0%
Hudsons Bay Simon JV Trust 2015-HBS0.493% 08/05/20340.0%
FX USD/CAD 04/220.000% 04/20/20220.0%
Freddie Mac REMICS0.000% 08/15/20220.0%
OGX Austria GmbH8.500% 06/01/20180.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
LAC0.010% 12/31/20500.0%
US LONG BOND(CBT) Jun220.000% 06/30/20220.0%
US ULTRA BOND CBT Jun220.000% 06/30/2022-0.1%
US 2YR NOTE (CBT) Jun220.000% 07/06/2022-0.2%
US 5YR NOTE (CBT) Jun220.000% 07/06/2022-0.3%

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.

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 05/20/2022
$0.032
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2022 $0.00823 $2.60
Daily Daily 03/31/2022 $0.00826 $2.72
Daily Daily 02/28/2022 $0.00797 $2.80
Daily Daily 01/31/2022 $0.00767 $2.86

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 05/31/2022
Daily Daily 06/30/2022
Daily Daily 07/31/2022
Daily Daily 08/31/2022
Daily Daily 09/30/2022
Daily Daily 10/31/2022
Daily Daily 11/30/2022
Daily Daily 12/31/2022

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 $0.0469 $0.0022 $0.0491 $2.94
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/19/2022 12/20/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 04/30/2022

0.45%

Fund Documents

Fund Documents

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Fund Story
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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.      

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

3

The Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

 

4

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

 

5

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

6

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

 

IMPORTANT INFORMATION

 

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 will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. 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. The Fund may also invest in convertible securities and senior loans, which are subject to increased credit and liquidity risks. These factors can affect Fund performance.

 

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.

 

 

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

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 Fund changed its investment strategy on 01/01/1982. Performance is calculated from this date. In addition, the Fund amended it s strategy on December 14, 2007. The historical performance shown of the Fund prior to December 14, 2007, reflects periods when the Fund pursued its previous investment strategy. The change in investment approach may affect the Fund’s performance in the future.

 

The Bloomberg U.S. Credit Bond Index is the U.S. Credit component of the U.S. Government/Credit index. The index includes publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity, and quality requirements. To qualify, bonds must be SEC-registered. The index includes both corporate and non-corporate sectors. The corporate sectors are Industrial, Utility, and Finance, which include both U.S. and non-U.S. corporations. The non-corporate sectors are Sovereign, Supranational, Foreign Agency, and Foreign Local Government. All returns are market value-weighted inclusive of accrued interest.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

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.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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