LOGVX | Income Fund Class F3 | Lord Abbett
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Income Fund

Daily price w/o sales charge as of 06/11/2021

$3.00

$0.00

YTD Returns w/o sales charge as of 06/11/2021

0.51%

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 06/11/2021  

w/o sales charge 3.34%

30-Day Standardized Yield 2 as of 05/31/2021  

2.40%

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

Fund Basicsas of 04/30/2021

Total Net Assets
$2.93 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.48%
Number of Holdings
447

Fund Expense Ratio :

0.48%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -0.59% 9.12% 6.57% 5.70% 5.26% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -2.43% 4.18% 6.74% 4.82% 4.72% -
Bloomberg Barclays U.S. Credit Bond Index -2.74% 3.32% 6.72% 4.79% 4.68% -

Fund Expense Ratio :

0.48%

Fund Expense Ratio :

0.48%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -2.48% 16.05% 5.77% 5.75% 5.41% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -4.03% 9.49% 5.95% 4.75% 4.86% -
Bloomberg Barclays U.S. Credit Bond Index -4.45% 7.88% 5.95% 4.67% 4.83% -

Fund Expense Ratio :

0.48%

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
U.S. Government Related
Bank Loans
ABS
CMBS
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 04/30/2021 View Portfolio

Rating Assets
U.S. Treasury
Agency
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

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Managing Director, Portfolio Manager

17 Years of Industry Experience

Eric P. Kang
Eric P. Kang

Portfolio Manager

21 Years of Industry Experience

Supported By 61 Investment Professionals with 16 Years Avg. Industry Experience

Contact a Representative

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Performance

Performance

Dividend Yield 1 as of 06/11/2021  

w/o sales charge 3.34%

30-Day Standardized Yield 2 as of 05/31/2021  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.40% 2.40%

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

Fund Expense Ratio :

0.48%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -0.59% 9.12% 6.57% 5.70% 5.26% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -2.43% 4.18% 6.74% 4.82% 4.72% -
Bloomberg Barclays U.S. Credit Bond Index -2.74% 3.32% 6.72% 4.79% 4.68% -

Fund Expense Ratio :

0.48%

Fund Expense Ratio :

0.48%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -2.48% 16.05% 5.77% 5.75% 5.41% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -4.03% 9.49% 5.95% 4.75% 4.86% -
Bloomberg Barclays U.S. Credit Bond Index -4.45% 7.88% 5.95% 4.67% 4.83% -

Fund Expense Ratio :

0.48%

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 U.S. Credit Bond Index
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% 8.35%
2010 11.58% -
2009 30.90% -
2008 -10.13% -
2007 7.07% -
2006 - -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 -2.48% - - - 0.53%
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
U.S. Government Related
Bank Loans
ABS
CMBS
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 04/30/2021

Rating Assets
U.S. Treasury
Agency
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 Positioning as of 03/31/2021

  • Over the quarter, the most notable change in the Fund’s composition was a reduction in the allocation to investment grade corporate credit. With those proceeds, we modestly increased exposure to bond sectors that we believe are better poised to benefit from the re-opening of the economy – such as commercial mortgage-backed securities (CMBS) and collateralized loan obligations (CLOs).
  • We maintained a meaningful off-benchmark allocation within high yield, as we believe the asset class has a strong risk-reward profile and provides attractive relative value.
  • We are investing in the essential and nonessential industries that are benefitting from a continued reopening of the economy. The magnitude and scale of this global pandemic has accelerated some secular shifts which are likely to remain even with access of the vaccine. As such, we remain positive on lower rated credits and are focusing on reopening sectors, such as air lessors, autos, metals, travel & leisure, and energy.
  • While there are short-term volatility risks stemming from COVID-19, we believe economic fundamentals will have an upward trajectory in 2021 as vaccinations continue to lead to a gradual reopening of the economy and latent demand, dormant services, and consumer spending all begin to normalize to pre-pandemic levels. With the Fed’s new approach to monetary policy, an anchored short-end of the yield curve, negative real yields, and very low volatility, the demand for risk can be very strong.

Portfolio Details as of 04/30/2021

Total Net Assets
$2.93 B
Number of Issues
447
Average Coupon
3.88%
Average Life
9.81 Years
Average Maturity
9.81 Years
Average Effective Duration
6.96 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 0.750% 03/31/2026 6.0%
United States Treasury Note/Bond 0.625% 08/15/2030 4.4%
United States Treasury Note/Bond 1.125% 05/15/2040 1.8%
General Electric Co 3.514% 06/15/2199 1.3%
Pacific Gas and Electric Co 4.550% 07/01/2030 1.1%
AT&T Inc 4.300% 02/15/2030 1.0%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl 4.700% 02/01/2036 0.9%
AT&T Inc 2.875% 05/01/2199 0.9%
General Motors Co 6.750% 04/01/2046 0.8%
Murphy USA Inc 2.250% 01/21/2028 0.8%
% of Total Assets 19.0%
Holding Coupon Maturity Assets
United States Treasury Note/Bond0.750% 03/31/20266.0%
United States Treasury Note/Bond0.625% 08/15/20304.4%
United States Treasury Note/Bond1.125% 05/15/20401.8%
General Electric Co3.514% 06/15/21991.3%
Pacific Gas and Electric Co4.550% 07/01/20301.1%
AT&T Inc4.300% 02/15/20301.0%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20360.9%
AT&T Inc2.875% 05/01/21990.9%
General Motors Co6.750% 04/01/20460.8%
Murphy USA Inc2.250% 01/21/20280.8%
Time Warner Cable LLC7.300% 07/01/20380.8%
United States Treasury Note/Bond1.625% 11/15/20500.7%
PSEG Power LLC8.625% 04/15/20310.7%
Helmerich & Payne Inc4.650% 03/15/20250.7%
Ford Motor Co7.450% 07/16/20310.7%
Altria Group Inc5.950% 02/14/20490.7%
Seminole Tribe of Florida4.331% 07/08/20240.6%
VICI Properties 1 LLC3.359% 12/20/20240.6%
Equinix Inc5.375% 05/15/20270.6%
BAT Capital Corp4.390% 08/15/20370.6%
UBS AG5.125% 05/15/20240.5%
Dell International LLC / EMC Corp.8.350% 07/15/20460.5%
Lamar Media Corp1.612% 02/26/20270.5%
NRG Energy Inc4.450% 06/15/20290.5%
Cenovus Energy Inc5.375% 07/15/20250.5%
JBS USA Lux S.A. (fka JBS USA, LLC)3.302% 05/01/20260.5%
Charter Communications Operating LLC6.484% 10/23/20450.5%
AT&T Inc3.500% 09/15/20530.5%
United Rentals North America Inc3.875% 11/15/20270.5%
Orange SA9.000% 03/01/20310.5%
ENI SpA5.700% 10/01/20400.5%
HCA Inc5.500% 06/15/20470.5%
Vistra Operations Co LLC3.550% 07/15/20240.5%
American Campus Communities Operating Partnership3.875% 01/30/20310.5%
Danske Bank A/S5.375% 01/12/20240.5%
Dell International LLC / EMC Corp.6.020% 06/15/20260.5%
NGPL Pipeco LLC4.875% 08/15/20270.4%
Bank of Ireland Group PLC4.125% 09/19/20270.4%
CIFC Funding 2021-I Ltd1.686% 04/25/20330.4%
Charles Schwab Corp/The5.375% 09/01/21990.4%
FirstEnergy Corp4.400% 07/15/20270.4%
CNO Financial Group Inc5.250% 05/30/20250.4%
United States Treasury Note/Bond1.375% 08/15/20500.4%
Universal Health Services Inc2.650% 10/15/20300.4%
Puget Energy Inc4.100% 06/15/20300.4%
Apache Corp5.100% 09/01/20400.4%
XPO Logistics, Inc.3.600% 02/24/20250.4%
BlueMountain CLO XXVIII Ltd1.613% 04/15/20340.4%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.4%
National Australia Bank Ltd3.933% 08/02/20340.4%
Prosus NV3.680% 01/21/20300.4%
Ally Financial Inc8.000% 11/01/20310.4%
BankUnited Inc5.125% 06/11/20300.4%
Oglethorpe Power Corp5.950% 11/01/20390.4%
NVR Inc3.000% 05/15/20300.4%
Boeing Co/The5.805% 05/01/20500.4%
IPALCO Enterprises Inc4.250% 05/01/20300.4%
Patterson-UTI Energy Inc3.950% 02/01/20280.4%
Nvent Finance Sarl4.550% 04/15/20280.4%
DaVita HealthCare Partners Inc. (fka DaVita Inc.)0.000% 08/12/20240.4%
CNO Financial Group Inc5.250% 05/30/20290.4%
Goldman Sachs Group Inc/The6.750% 10/01/20370.4%
Diamondback Energy Inc5.375% 05/31/20250.4%
WPX Energy Inc4.500% 01/15/20300.4%
Huntington Ingalls Industries Inc3.844% 05/01/20250.4%
Assurant Inc3.700% 02/22/20300.4%
Aircastle Ltd4.250% 06/15/20260.4%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.4%
Royalty Pharma PLC2.200% 09/02/20300.4%
Fluor Corp4.250% 09/15/20280.4%
Williams Cos Inc/The8.750% 03/15/20320.4%
Suncor Energy Inc7.875% 06/15/20260.4%
MPT Operating Partnership LP / MPT Finance Corp4.625% 08/01/20290.4%
One Bryant Park Trust 2019-OBP2.516% 09/15/20540.3%
Carnival Corp11.500% 04/01/20230.3%
Elmwood CLO VIII Ltd1.666% 01/20/20340.3%
Madison Park Funding XVII Ltd1.686% 07/21/20300.3%
Global Payments Inc3.200% 08/15/20290.3%
Owens Illinois, Inc.0.000% 06/25/20240.3%
Westpac Banking Corp4.110% 07/24/20340.3%
Hilton Worldwide Finance, LLC2.012% 06/22/20260.3%
Aircastle Ltd2.850% 01/26/20280.3%
UBS AG/Stamford CT7.625% 08/17/20220.3%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.3%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.3%
Leidos Inc7.125% 07/01/20320.3%
Metropolitan Transportation Authority6.668% 11/15/20390.3%
Enbridge Energy Partners LP7.500% 04/15/20380.3%
Suncor Energy Ventures Corp4.500% 04/01/20220.3%
Park Aerospace Holdings Ltd5.500% 02/15/20240.3%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.3%
Hess Corp5.800% 04/01/20470.3%
Canadian Natural Resources Ltd.7.200% 01/15/20320.3%
VMware Inc4.700% 05/15/20300.3%
Alleghany Corp3.625% 05/15/20300.3%
AT&T Inc3.650% 06/01/20510.3%
AbbVie Inc4.250% 11/21/20490.3%
CenturyLink, Inc.2.397% 01/28/20250.3%
GLP Capital LP / GLP Financing II Inc5.750% 06/01/20280.3%
Navient Corp6.750% 06/25/20250.3%
Sabal Trail Transmission LLC4.246% 05/01/20280.3%
Tapestry Inc4.125% 07/15/20270.3%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.3%
FirstEnergy Transmission LLC4.550% 04/01/20490.3%
Freeport-McMoRan Inc5.450% 03/15/20430.3%
CommonSpirit Health3.347% 10/01/20290.3%
Discover Bank4.682% 08/09/20280.3%
Centene Corp4.625% 12/15/20290.3%
Netflix Inc3.625% 05/15/20270.3%
Ready Capital Mortgage Financing 2021-FL5 LLC3.106% 04/25/20380.3%
Great Wolf Trust 2019-WOLF1.149% 12/15/20360.3%
EPR Properties4.950% 04/15/20280.3%
Westinghouse Air Brake Technologies Corp4.950% 09/15/20280.3%
Sysco Corp6.600% 04/01/20500.3%
Texas Capital Bancshares Inc4.000% 05/06/20310.3%
PulteGroup Inc6.375% 05/15/20330.3%
MPLX LP1.330% 09/09/20220.3%
Playtika Holding Corp2.863% 03/05/20280.3%
Expedia Group Inc2.950% 03/15/20310.3%
State of Illinois5.100% 06/01/20330.3%
BFLD 2019-DPLO2.355% 10/15/20340.3%
Emera US Finance LP4.750% 06/15/20460.3%
Protective Life Corp8.450% 10/15/20390.3%
Kayne CLO 7 Ltd1.390% 04/17/20330.3%
Country Garden Holdings Co Ltd4.750% 09/28/20230.3%
New York and Presbyterian Hospital/The3.954% 08/01/21190.3%
Suzano Austria GmbH3.750% 01/15/20310.3%
Westpac Banking Corp2.668% 11/15/20350.3%
Goodman US Finance Three LLC3.700% 03/15/20280.3%
Exeter Automobile Receivables Trust 2020-33.440% 08/17/20260.3%
Kemper Corp2.400% 09/30/20300.3%
Carvana Auto Receivables Trust 2019-44.700% 10/15/20260.3%
Logmein Inc4.860% 08/14/20270.3%
AerCap Ireland Capital DAC / AerCap Global Aviatio3.500% 01/15/20250.3%
Morgan Stanley5.875% 12/31/20990.3%
Diamondback Energy Inc3.500% 12/01/20290.3%
Aon Corp8.205% 01/01/20270.3%
Cox Communications Inc8.375% 03/01/20390.3%
One New York Plaza Trust 2020-1NYP1.615% 01/15/20260.3%
Imperial Brands Finance PLC3.875% 07/26/20290.3%
Regeneron Pharmaceuticals Inc1.750% 09/15/20300.3%
Exeter Automobile Receivables Trust 2020-35.560% 06/15/20270.2%
Continental Resources Inc/OK4.900% 06/01/20440.2%
Anglo American Capital plc4.750% 04/10/20270.2%
Glencore Finance Canada Ltd5.550% 10/25/20420.2%
PVH Corp7.750% 11/15/20230.2%
Universal Health Services Inc5.000% 06/01/20260.2%
Central American Bottling Corp.5.750% 01/31/20270.2%
Time Warner Entertainment Co LP8.375% 07/15/20330.2%
Cimarex Energy Co4.375% 03/15/20290.2%
Stanley Black & Decker Inc4.000% 03/15/20600.2%
Bayer Corp6.650% 02/15/20280.2%
Nutrition & Biosciences0.000% 01/17/20250.2%
Halliburton Co7.450% 09/15/20390.2%
Boeing Co0.000% 02/06/20220.2%
Anglo American Capital plc2.625% 09/10/20300.2%
Shackleton 2019-XIV Clo Ltd2.088% 07/20/20300.2%
Weyerhaeuser Co8.500% 01/15/20250.2%
BX Commercial Mortgage Trust 2019-XL1.565% 10/15/20360.2%
Invitation Homes, Inc.0.000% 01/31/20250.2%
Macquarie Bank Ltd3.052% 03/03/20360.2%
Cleco Power LLC6.000% 12/01/20400.2%
Kayne CLO II Ltd1.684% 10/15/20310.2%
PDC Energy Inc5.750% 05/15/20260.2%
E*TRADE Financial Corp4.500% 06/20/20280.2%
Churchill Downs Incorporated2.120% 03/10/20280.2%
Fairstone Financial Issuance Trust I5.162% 10/20/20390.2%
CNH Industrial Capital LLC4.375% 04/05/20220.2%
Wyndham Hotels & Resorts3.972% 03/28/20250.2%
Citigroup Commercial Mortgage Trust 2016-P35.050% 04/15/20490.2%
Comcast Hulu Holdings LLC0.000% 03/15/20240.2%
Neuberger Berman Group LLC / Neuberger Berman Fina4.875% 04/15/20450.2%
American Homes 4 Rent LP4.250% 02/15/20280.2%
BX Commercial Mortgage Trust 2019-XL2.115% 10/15/20360.2%
Bayer US Finance II LLC4.375% 12/15/20280.2%
Selective Insurance Group Inc5.375% 03/01/20490.2%
Matador Resources Co5.875% 09/15/20260.2%
Shackleton 2015-VIII CLO Ltd2.888% 10/20/20270.2%
Oaktree EIF III Series I Ltd2.188% 10/20/20270.2%
ALM VII Ltd2.034% 07/15/20290.2%
Viper Energy Partners LP5.375% 11/01/20270.2%
AES Corp/The2.450% 01/15/20310.2%
Nielsen Finance LLC (VNU, Inc.)3.831% 10/04/20230.2%
NOV Inc3.600% 12/01/20290.2%
Banijay Group US Holding3.860% 02/04/20250.2%
Boeing Co/The5.705% 05/01/20400.2%
Occidental Petroleum Corp6.625% 09/01/20300.2%
Diamondback Energy Inc2.875% 12/01/20240.2%
BX Commercial Mortgage Trust 2019-XL1.915% 10/15/20360.2%
Berry Petroleum Co LLC7.000% 02/15/20260.2%
CyrusOne LP / CyrusOne Finance Corp3.450% 11/15/20290.2%
Viterra Finance BV3.200% 04/21/20310.2%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.2%
Global Payments Inc.0.000% 07/09/20240.2%
Boeing Co/The4.875% 05/01/20250.2%
Webster Financial Corp4.100% 03/25/20290.2%
AerCap Ireland Capital DAC / AerCap Global Aviatio3.875% 01/23/20280.2%
Steel Dynamics Inc5.000% 12/15/20260.2%
CoStar Group Inc2.800% 07/15/20300.2%
Owens Corning7.000% 12/01/20360.2%
Morgan Stanley5.000% 11/24/20250.2%
Northwell Healthcare Inc3.979% 11/01/20460.2%
MEG Energy Corp6.500% 01/15/20250.2%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.2%
AstraZeneca plc6.450% 09/15/20370.2%
Hess Corp5.600% 02/15/20410.2%
Kaisa Group Holdings Ltd9.375% 06/30/20240.2%
Kraft Heinz Foods Co4.875% 10/01/20490.2%
Ovintiv Inc6.625% 08/15/20370.2%
Kraft Heinz Foods Co4.375% 06/01/20460.2%
Boeing Co/The3.600% 05/01/20340.2%
Buckeye Partners LP6.375% 01/22/20780.2%
Laredo Petroleum Inc10.125% 01/15/20280.2%
Puget Energy Inc3.650% 05/15/20250.2%
Octagon Loan Funding Ltd1.369% 11/18/20310.2%
KKR CLO 30 Ltd2.190% 10/17/20310.2%
Hess Corporation0.000% 03/16/20230.2%
BlueMountain CLO 2016-1 Ltd1.538% 04/20/20270.2%
AI Aqua Merger Sub, Inc.5.032% 12/13/20230.2%
Sri Lanka Government International Bond5.875% 07/25/20220.2%
American Airlines 2014-1 Class B Pass Through Trus4.375% 10/01/20220.2%
Enbridge Inc6.000% 01/15/20770.2%
Marble Point CLO XVII Ltd1.488% 04/20/20330.2%
Fresenius Medical Care US Finance III Inc3.750% 06/15/20290.2%
Cigna Corp6.125% 11/15/20410.2%
Trans Union LLC2.363% 11/13/20260.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
Neuberger Berman Group LLC / Neuberger Berman Fina4.500% 03/15/20270.2%
Glencore Funding LLC2.850% 04/27/20310.2%
PFP 2019-6 Ltd2.216% 04/14/20370.2%
BBVA Bancomer SA/Texas5.125% 01/18/20330.2%
Oasis Petroleum Inc0.000% -0.2%
Mountain View CLO 2017-1 LLC1.274% 10/16/20290.2%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.2%
Benchmark 2020-B22 Mortgage Trust2.000% 01/15/20540.2%
Octagon Investment Partners 29 Ltd1.356% 01/24/20330.2%
L Brands Inc6.875% 11/01/20350.2%
American Axle & Manufacturing Inc6.875% 07/01/20280.2%
Origin Energy Finance Ltd5.450% 10/14/20210.1%
Mariner Finance Issuance Trust 2021-A5.400% 03/20/20360.1%
Brightsphere Investment Group Inc4.800% 07/27/20260.1%
PulteGroup Inc7.875% 06/15/20320.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
Exelon Generation Co LLC5.600% 06/15/20420.1%
Exelon Generation Co LLC5.750% 10/01/20410.1%
Flagship Credit Auto Trust 2019-14.080% 02/18/20250.1%
Boeing Co/The5.150% 05/01/20300.1%
BNP Paribas SA4.500% 08/25/21990.1%
Westlake Automobile Receivables Trust 2021-14.310% 09/15/20270.1%
Exelon Generation Co LLC6.250% 10/01/20390.1%
Topaz Solar Farms LLC5.750% 09/30/20390.1%
Continental Finance Credit Card ABS Master Trust3.660% 12/15/20280.1%
Anglo American Capital plc4.500% 03/15/20280.1%
BX Commercial Mortgage Trust 2019-IMC2.265% 04/15/20340.1%
BBCMS 2019-BWAY Mortgage Trust1.725% 11/15/20340.1%
American Homes 4 Rent LP4.900% 02/15/20290.1%
Fresenius Medical Care US Finance III Inc2.375% 02/16/20310.1%
Avolon Holdings Funding Ltd5.125% 10/01/20230.1%
TCW CLO 2019-1 AMR Ltd3.184% 02/15/20290.1%
Diamondback Energy Inc4.750% 05/31/20250.1%
Wind River 2015-2 CLO Ltd2.784% 10/15/20270.1%
GoldenTree Loan Opportunities IX Ltd.3.177% 10/29/20290.1%
KKR CLO 18 Ltd1.890% 07/18/20300.1%
Specialty Building Products Holdings LLC / SBP Fin6.375% 09/30/20260.1%
Global Payments Inc2.900% 05/15/20300.1%
Oracle Corp2.875% 03/25/20310.1%
Bank of America Corp2.687% 04/22/20320.1%
Citigroup Inc2.561% 05/01/20320.1%
Westpac Banking Corp4.322% 11/23/20310.1%
Caesars Entertainment Inc6.250% 07/01/20250.1%
Foursight Capital Automobile Receivables Trust 2014.190% 11/15/20230.1%
Hayward Acquisition Corp.4.804% 08/05/20240.1%
Duquesne Light Holdings Inc6.250% 08/15/20350.1%
Freeport-McMoRan Inc4.250% 03/01/20300.1%
CCM Merger Inc6.375% 05/01/20260.1%
Ford Motor Co3.335% 12/31/20220.1%
Ally Financial Inc4.700% 08/15/21990.1%
Vertical US Newco Inc5.250% 07/15/20270.1%
Hawaiian Brand Intellectual Property Ltd / Hawaiia5.750% 01/20/20260.1%
NiSource Inc5.950% 06/15/20410.1%
United States Steel Corp6.875% 03/01/20290.1%
Callon Petroleum Co6.250% 04/15/20230.1%
COMM 2015-PC1 Mortgage Trust4.464% 07/10/20500.1%
Uber Technologies Inc6.250% 01/15/20280.1%
HPLY Trust 2019-HIT1.115% 11/15/20360.1%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.1%
Shift4 Payments LLC / Shift4 Payments Finance Sub4.625% 11/01/20260.1%
Ovintiv Inc6.500% 02/01/20380.1%
PetSmart Inc / PetSmart Finance Corp7.750% 02/15/20290.1%
Clarios Global LP / Clarios US Finance Co8.500% 05/15/20270.1%
NCL Corp Ltd3.625% 12/15/20240.1%
Nordstrom Inc4.375% 04/01/20300.1%
Benefit Street Partners CLO XXI Ltd2.984% 07/15/20310.1%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.1%
Party City Holdings Inc8.750% 02/15/20260.1%
Barclays Bank plc10.179% 06/12/20210.1%
Range Resources Corp8.250% 01/15/20290.1%
AerCap Ireland Capital DAC / AerCap Global Aviatio4.875% 01/16/20240.1%
Nationstar Mortgage Holdings Inc5.500% 08/15/20280.1%
Park Intermediate Holdings LLC / PK Domestic Prope5.875% 10/01/20280.1%
Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd8.000% 09/20/20250.1%
Live Nation Entertainment Inc4.750% 10/15/20270.1%
Perimeter Master Note Business Trust4.230% 05/15/20240.1%
Rite Aid Corp8.000% 11/15/20260.1%
Tesla Inc5.300% 08/15/20250.1%
Pike Corp5.500% 09/01/20280.1%
Royal Caribbean Cruises Ltd3.700% 03/15/20280.1%
Nabors Industries Ltd7.250% 01/15/20260.1%
US Renal Care Inc10.625% 07/15/20270.1%
Wells Fargo Commercial Mortgage Trust4.611% 09/15/20480.1%
New Jersey Transportation Trust Fund Authority4.131% 06/15/20420.1%
OneMain Finance Corp4.000% 09/15/20300.1%
Boeing Co/The5.930% 05/01/20600.1%
IHO Verwaltungs GmbH4.750% 09/15/20260.1%
Garda World Security Corp4.625% 02/15/20270.1%
J.P. Morgan Chase Commercial Mortgage Securities T3.392% 06/05/20320.1%
Cheniere Corpus Christi Holdings LLC3.700% 11/15/20290.1%
Freeport-McMoRan Inc5.250% 09/01/20290.1%
VMC Finance 2019-FL3 LLC1.214% 09/15/20360.1%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.1%
Citigroup Inc4.600% 03/09/20260.1%
Shea Homes LP / Shea Homes Funding Corp.4.750% 02/15/20280.1%
Yum! Brands Inc6.875% 11/15/20370.1%
Mountain View CLO X Ltd1.538% 10/13/20270.1%
SM Energy Co6.625% 01/15/20270.1%
Twilio Inc3.875% 03/15/20310.1%
Leidos Inc4.375% 05/15/20300.1%
Valmont Industries Inc5.250% 10/01/20540.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
California Resources Corp7.125% 02/01/20260.1%
Ahead DB Holdings LLC6.625% 05/01/20280.1%
SM Energy Co6.750% 09/15/20260.1%
Switch Ltd3.750% 09/15/20280.1%
OCP CLO 2013-4 Ltd3.176% 04/24/20290.1%
Hardee's Funding LLC5.710% 06/20/20480.1%
Scientific Games International, Inc.2.863% 08/14/20240.1%
Kennedy-Wilson Inc5.000% 03/01/20310.1%
Kennedy-Wilson Inc4.750% 03/01/20290.1%
MEG Energy Corp7.125% 02/01/20270.1%
Planet Fitness Master Issuer LLC3.858% 12/05/20490.1%
Macquarie Bank Ltd4.875% 06/10/20250.1%
MHP Lux SA6.950% 04/03/20260.1%
Twilio Inc3.625% 03/15/20290.1%
JFIN CLO 2013 Ltd1.578% 01/20/20300.1%
HPS Loan Management 10-2016 Ltd1.938% 01/20/20280.1%
Signal Peak CLO 2 LLC3.038% 04/20/20290.1%
Benefit Street Partners Clo XII Ltd3.234% 10/15/20300.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
Turkiye Vakiflar Bankasi TAO5.750% 01/30/20230.1%
Great Wolf Trust 2019-WOLF2.847% 12/15/20360.1%
Scientific Games International, Inc.8.625% 07/01/20250.1%
JPMBB Commercial Mortgage Securities Trust4.409% 07/15/20480.1%
Ken Garff Automotive LLC4.875% 09/15/20280.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 12/15/20230.1%
Glencore Funding LLC4.125% 05/30/20230.1%
EagleView Technology Corporation3.690% 08/14/20250.1%
American Airlines Group Inc3.750% 03/01/20250.1%
Scientific Games International, Inc.7.250% 11/15/20290.1%
SL Green Realty Corp4.500% 12/01/20220.1%
Carvana Co5.875% 10/01/20280.1%
Zayo Group Holdings Inc6.125% 03/01/20280.1%
Carvana Co5.625% 10/01/20250.1%
E*TRADE Financial Corp3.800% 08/24/20270.1%
Leidos Holdings Inc5.950% 12/01/20400.1%
Verus Securitization Trust 2020-12.417% 01/25/20600.1%
Deephaven Residential Mortgage Trust 2020-12.339% 01/25/20600.1%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
NRG Energy Inc2.450% 12/02/20270.0%
BlueMountain CLO 2013-1 Ltd1.938% 01/20/20290.0%
Ovintiv Inc6.500% 08/15/20340.0%
Wells Fargo Commercial Mortgage Trust4.405% 07/15/20460.0%
Avolon Holdings Funding Ltd4.250% 04/15/20260.0%
CPS Auto Trust4.610% 12/15/20220.0%
Turkiye Vakiflar Bankasi TAO5.625% 05/30/20220.0%
Physicians Realty LP3.950% 01/15/20280.0%
Oglethorpe Power Corp4.200% 12/01/20420.0%
GS Mortgage Securities Trust 2015-GC324.569% 07/10/20480.0%
Resorts World Las Vegas LLC0.000% 04/16/20240.0%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.0%
ZF North America Capital Inc4.500% 04/29/20220.0%
Boral Finance Pty Ltd3.000% 11/01/20220.0%
SM Energy Co6.125% 11/15/20220.0%
Metropolitan Edison Co4.000% 04/15/20250.0%
Galaxy XXI CLO Ltd1.208% 04/20/20310.0%
Elevation CLO 2014-2 Ltd3.384% 10/15/20290.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
Danske Bank A/S4.375% 06/12/20280.0%
MHP Lux SA6.250% 09/19/20290.0%
State of Illinois4.950% 06/01/20230.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
Country Garden Holdings Co Ltd4.750% 01/17/20230.0%
Halcyon Loan Advisors Funding Ltd.2.326% 07/25/20270.0%
BAT Capital Corp4.700% 04/02/20270.0%
Glencore Funding LLC3.000% 10/27/20220.0%
CSX Transportation Inc7.875% 05/15/20430.0%
Stericycle Inc3.528% 11/17/20220.0%
Apex Credit CLO 2016 Ltd2.031% 10/27/20280.0%
Vertical Holdco GmbH7.625% 07/15/20280.0%
New Jersey Transportation Trust Fund Authority4.081% 06/15/20390.0%
Residential Mortgage Loan Trust 2020-12.376% 02/25/20240.0%
Glencore Finance Canada Ltd4.250% 10/25/20220.0%
Doncasters US Finance LLC (Doncasters US LLC)8.500% 03/31/20240.0%
Avery Point IV CLO Ltd1.776% 04/25/20260.0%
Canadian Pacific Railway Co9.450% 08/01/20210.0%
GS Mortgage Securities Trust 2013-GCJ121.539% 06/10/20460.0%
GS Mortgage Securities Trust 2013-GCJ120.655% 06/10/20460.0%
DRB Prime Student Loan Trust 2015-D3.200% 01/25/20400.0%
Leidos Inc5.500% 07/01/20330.0%
Hudsons Bay Simon JV Trust 2015-HBS0.723% 08/05/20340.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Merrill Lynch Mortgage Investors Trust Series6.250% 10/25/20360.0%
GS Mortgage Securities Trust 2015-GS10.328% 11/10/20480.0%
UTEX Industries0.000% -0.0%
Cigna Corp4.800% 07/15/20460.0%
Government National Mortgage Association0.577% 07/16/20540.0%
Westinghouse Air Brake Technologies Corp3.200% 06/15/20250.0%
FX USD/EUR 06/210.000% 06/04/20210.0%
Occidental Petroleum Corp1.671% 08/15/20220.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Hudsons Bay Simon JV Trust 2015-HBS0.665% 08/05/20340.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Avery Point V CLO Ltd1.170% 07/17/20260.0%
Occidental Petroleum Corp3.500% 08/15/20290.0%
UTEX Industries8.500% 11/01/20240.0%
UTEX Industries5.250% 11/01/20240.0%
UTEX Industries0.000% -0.0%
Freddie Mac REMICS0.000% 08/15/20220.0%
OGX Austria GmbH8.500% 06/01/20190.0%
US 10YR ULTRA FUT JUN210.000% 06/30/20210.0%
US LONG BOND(CBT) JUN210.000% 06/30/20210.0%
US ULTRA BOND CBT JUN210.000% 06/30/20210.0%
EURO-BOBL FUT JUN210.000% 06/10/20210.0%
Fannie Mae Interest Strip0.000% 04/25/20220.0%
Fannie Mae REMICS1008.000% 12/25/20210.0%
Freddie Mac REMICS0.000% 09/15/20220.0%
Freddie Mac REMICS1007.000% 02/15/20220.0%
Freddie Mac REMICS1008.400% 11/15/20210.0%
Freddie Mac REMICS1185.497% 09/15/20210.0%
Freddie Mac REMICS982.654% 04/15/20220.0%
US 2YR NOTE (CBT) JUN210.000% 07/06/20210.0%
US 5YR NOTE (CBT) JUN210.000% 07/06/20210.0%
Credit Index Swap1.000% 06/20/20260.0%
FX USD/CAD 07/210.000% 07/20/20210.0%

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 06/11/2021
$0.041
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 05/31/2021 $0.00834 $2.97
Daily Daily 04/30/2021 $0.00834 $2.96
Daily Daily 03/31/2021 $0.00832 $2.93
Daily Daily 02/28/2021 $0.00826 $2.98
Daily Daily 01/31/2021 $0.00857 $3.02

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 06/30/2021
Daily Daily 07/31/2021
Daily Daily 08/31/2021
Daily Daily 09/30/2021
Daily Daily 10/31/2021
Daily Daily 11/30/2021
Daily Daily 12/31/2021

Fees & Expenses

Fees & Expenses

Expense Ratioas of 05/31/2021

0.48%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
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
Fund Story
Publish Date:11/03/2015
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.      

                    

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 yield reflects 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 Barclays 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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