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 10/06/2022

$2.36

$0.00

YTD Returns w/o sales charge as of 10/06/2022

-16.91%

Overall Morningstar Ratings

Corporate Bond
as of 08/31/2022

Morningstar rated the Lord Abbett Income Fund class F3 share 4 and 4 stars among 188 and 166 Corporate Bond Funds for the overall rating and the 3 and 5 year periods ended 8/31/2022, 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 10/06/2022  

w/o sales charge 4.86%

30-Day Standardized Yield 2 as of 08/31/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 5.14% 5.13%

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

Fund Basicsas of 08/31/2022

Total Net Assets
$2.61 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.45%
Number of Holdings
361

Fund Expense Ratio :

0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -17.68% -17.62% -2.84% 0.26% 2.32% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -17.91% -17.91% -3.43% -0.15% 1.47% -
Bloomberg U.S. Credit Bond Index -18.07% -17.89% -3.61% -0.05% 1.58% -

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 -17.68% -17.62% -2.84% 0.26% 2.32% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -17.91% -17.91% -3.43% -0.15% 1.47% -
Bloomberg U.S. Credit Bond Index -18.07% -17.89% -3.61% -0.05% 1.58% -

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
MBS
U.S. Government Related
CMBS
ABS
CLO
Bank Loans
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 08/31/2022 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

24 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

31 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

28 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

21 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Partner, Portfolio Manager

19 Years of Industry Experience

Eric P. Kang
Eric P. Kang

Managing Director, Portfolio Manager

23 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 10/06/2022  

w/o sales charge 4.86%

30-Day Standardized Yield 2 as of 08/31/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 5.14% 5.13%

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 -17.68% -17.62% -2.84% 0.26% 2.32% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -17.91% -17.91% -3.43% -0.15% 1.47% -
Bloomberg U.S. Credit Bond Index -18.07% -17.89% -3.61% -0.05% 1.58% -

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 -17.68% -17.62% -2.84% 0.26% 2.32% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -17.91% -17.91% -3.43% -0.15% 1.47% -
Bloomberg U.S. Credit Bond Index -18.07% -17.89% -3.61% -0.05% 1.58% -

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% -7.54% -4.91% - -16.91%
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
MBS
U.S. Government Related
CMBS
ABS
CLO
Bank Loans
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 08/31/2022

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 Details as of 08/31/2022

Total Net Assets
$2.61 B
Number of Issues
361
Average Coupon
4.48%
Average Life
8.83 Years
Average Maturity
8.82 Years
Average Effective Duration
7.14 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 3.250% 05/15/2042 4.2%
AbbVie Inc 3.200% 11/21/2029 1.6%
Southwestern Energy Co 4.704% 06/22/2027 1.5%
Broadcom Inc 4.150% 04/15/2032 1.3%
CVS Health Corp 3.250% 08/15/2029 1.2%
Sprint Capital Corp 6.875% 11/15/2028 1.1%
United States Treasury Inflation Indexed Bonds 0.625% 07/15/2032 1.0%
Toronto-Dominion Bank/The 4.456% 06/08/2032 0.9%
Continental Resources Inc/OK 5.750% 01/15/2031 0.9%
30-YR UMBS-TBA PROD OCT 5.000% 06/01/2052 0.8%
% of Total Assets 14.5%
Holding Coupon Maturity Assets
United States Treasury Note/Bond3.250% 05/15/20424.2%
AbbVie Inc3.200% 11/21/20291.6%
Southwestern Energy Co4.704% 06/22/20271.5%
Broadcom Inc4.150% 04/15/20321.3%
CVS Health Corp3.250% 08/15/20291.2%
Sprint Capital Corp6.875% 11/15/20281.1%
United States Treasury Inflation Indexed Bonds0.625% 07/15/20321.0%
Toronto-Dominion Bank/The4.456% 06/08/20320.9%
Continental Resources Inc/OK5.750% 01/15/20310.9%
30-YR UMBS-TBA PROD OCT5.000% 06/01/20520.8%
NGPL PipeCo LLC4.875% 08/15/20270.8%
VICI Properties LP / VICI Note Co Inc4.625% 06/15/20250.7%
Southwest Gas Corp4.050% 03/15/20320.7%
Cigna Corp4.375% 10/15/20280.7%
Pacific Gas and Electric Co4.550% 07/01/20300.7%
Netflix Inc5.375% 11/15/20290.7%
United States Treasury Inflation Indexed Bonds0.125% 02/15/20520.7%
Workday Inc3.800% 04/01/20320.7%
Cargill Inc4.000% 06/22/20320.6%
Nielsen Finance LLC4.369% 10/04/20230.6%
30-YR UMBS-TBA PROD OCT4.500% 05/01/20520.6%
Time Warner Cable LLC7.300% 07/01/20380.6%
Puget Energy Inc4.100% 06/15/20300.6%
Bank of America Corp2.687% 04/22/20320.6%
Citigroup Inc2.561% 05/01/20320.6%
Constellation Energy Generation LLC6.250% 10/01/20390.6%
EQT Corp7.000% 02/01/20300.6%
Braskem Netherlands Finance BV4.500% 01/31/20300.6%
CenterPoint Energy Resources Corp4.400% 07/01/20320.6%
Fluor Corp4.250% 09/15/20280.6%
Intercontinental Exchange Inc4.350% 06/15/20290.6%
Take-Two Interactive Software Inc4.000% 04/14/20320.6%
Citigroup Inc4.910% 05/24/20330.6%
Charter Communications Operating LLC / Charter Communications Operating Capital6.484% 10/23/20450.6%
Crown Castle Inc3.300% 07/01/20300.6%
Becton Dickinson and Co4.298% 08/22/20320.6%
30-YR UMBS-TBA PROD SEP5.500% 07/01/20520.5%
GSK Consumer Healthcare Capital US LLC3.625% 03/24/20320.5%
American Express Co4.989% 05/26/20330.5%
UBS AG5.125% 05/15/20240.5%
Comision Federal de Electricidad4.688% 05/15/20290.5%
Dell International LLC / EMC Corp8.350% 07/15/20460.5%
Oracle Corp5.375% 07/15/20400.5%
State Street Corp4.164% 08/04/20330.5%
Wells Fargo & Co3.350% 03/02/20330.5%
Alcoa Nederland Holding BV4.125% 03/31/20290.5%
NRG Energy Inc4.450% 06/15/20290.5%
nVent Finance Sarl4.550% 04/15/20280.5%
Bank of Ireland Group PLC4.125% 09/19/20270.5%
30-YR GNMA II-TBA PROD SEP5.000% 07/01/20520.5%
Bayer Corp6.650% 02/15/20280.5%
Vistra Operations Co LLC3.550% 07/15/20240.5%
Fannie Mae Pool2.500% 05/01/20510.5%
Amgen Inc4.050% 08/18/20290.5%
Oracle Corp6.125% 07/08/20390.5%
Danske Bank A/S5.375% 01/12/20240.5%
ServiceNow Inc1.400% 09/01/20300.5%
State of Illinois5.100% 06/01/20330.5%
Duquesne Light Holdings Inc2.775% 01/07/20320.5%
DTE Energy Co2.950% 03/01/20300.5%
Crescent Energy Finance LLC7.250% 05/01/20260.4%
Eni SpA5.700% 10/01/20400.4%
BlueMountain CLO XXVIII Ltd4.012% 04/15/20340.4%
Oracle Corp2.875% 03/25/20310.4%
Fairstone Financial Issuance Trust I5.162% 10/20/20390.4%
Santander Drive Auto Receivables Trust 2022-54.430% 03/15/20270.4%
Southern Co/The2.700% 08/01/20240.4%
Brown & Brown Inc4.200% 03/17/20320.4%
CNO Financial Group Inc5.250% 05/30/20250.4%
Minejesa Capital BV4.625% 08/10/20300.4%
Octane Receivables Trust 2022-25.850% 07/20/20280.4%
30-YR UMBS-TBA PROD SEP4.500% 05/01/20520.4%
Avis Budget Rental Car Funding AESOP LLC3.710% 08/20/20270.4%
JPMorgan Chase & Co2.963% 01/25/20330.4%
30-YR GNMA II-TBA PROD SEP4.500% 07/01/20520.4%
NextEra Energy Capital Holdings Inc5.000% 07/15/20320.4%
Oglethorpe Power Corp5.950% 11/01/20390.4%
America Movil SAB de CV5.375% 04/04/20320.4%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.4%
Freddie Mac STACR REMIC Trust 2021-HQA43.133% 12/25/20410.4%
EPR Properties4.950% 04/15/20280.4%
Glencore Funding LLC2.850% 04/27/20310.4%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.4%
Fidelity National Information Services Inc5.100% 07/15/20320.4%
Credit Suisse Group AG6.373% 07/15/20260.4%
Vermilion Energy Inc6.875% 05/01/20300.4%
JPMorgan Chase & Co4.912% 07/25/20330.4%
Global Payments Inc5.300% 08/15/20290.4%
National Australia Bank Ltd3.933% 08/02/20340.4%
Wells Fargo & Co4.897% 07/25/20330.4%
BankUnited Inc5.125% 06/11/20300.4%
US Bancorp4.967% 07/22/20330.4%
Danske Bank A/S3.773% 03/28/20250.4%
Madison Park Funding XVII Ltd4.232% 07/21/20300.4%
Elevance Health Inc4.100% 05/15/20320.4%
Humana Inc3.125% 08/15/20290.4%
Callon Petroleum Co8.000% 08/01/20280.4%
ONE Gas Inc4.250% 09/01/20320.4%
IPALCO Enterprises Inc4.250% 05/01/20300.4%
Norfolk Southern Corp4.550% 06/01/20530.4%
Freddie Mac STACR REMIC Trust 2021-DNA73.033% 11/25/20410.4%
Aircastle Ltd2.850% 01/26/20280.4%
Goldman Sachs Group Inc/The6.750% 10/01/20370.4%
Penn Virginia Holdings LLC9.250% 08/15/20260.4%
Centennial Resource Production LLC6.875% 04/01/20270.3%
Ally Financial Inc8.000% 11/01/20310.3%
CNO Financial Group Inc5.250% 05/30/20290.3%
Suncor Energy Inc7.875% 06/15/20260.3%
AEP Transmission Co LLC4.500% 06/15/20520.3%
Xiaomi Best Time International Ltd2.875% 07/14/20310.3%
AES Panama Generation Holdings SRL4.375% 05/31/20300.3%
Assurant Inc3.700% 02/22/20300.3%
Diamondback Energy Inc3.125% 03/24/20310.3%
Fannie Mae Pool3.500% 07/01/20450.3%
Romark CLO Ltd4.433% 10/23/20300.3%
One Bryant Park Trust 2019-OBP2.516% 09/15/20540.3%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.3%
American Express Co4.420% 08/03/20330.3%
FactSet Research Systems Inc3.450% 03/01/20320.3%
Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.3%
Aker BP ASA3.100% 07/15/20310.3%
Viterra Finance BV3.200% 04/21/20310.3%
Time Warner Entertainment Co LP8.375% 07/15/20330.3%
Occidental Petroleum Corp6.625% 09/01/20300.3%
Westpac Banking Corp4.110% 07/24/20340.3%
Qorvo Inc3.375% 04/01/20310.3%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd3.791% 05/15/20360.3%
CBAM 2017-1 Ltd6.460% 07/20/20300.3%
Great Wolf Trust 2019-WOLF3.425% 12/15/20360.3%
Bank of America Corp2.482% 09/21/20360.3%
Hyatt Hotels Corp1.300% 10/01/20230.3%
Ready Capital Mortgage Financing 2021-FL5 LLC5.444% 04/25/20380.3%
Macquarie Bank Ltd3.052% 03/03/20360.3%
Bank of America Corp4.571% 04/27/20330.3%
Rad CLO 7 Ltd3.940% 04/17/20330.3%
Navient Corp6.750% 06/25/20250.3%
BFLD 2019-DPLO4.631% 10/15/20340.3%
Toll Brothers Finance Corp4.875% 03/15/20270.3%
Civitas Resources Inc5.000% 10/15/20260.3%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.3%
Ovintiv Inc6.500% 02/01/20380.3%
Leidos Inc7.125% 07/01/20320.3%
Tampa Electric Co5.000% 07/15/20520.3%
Discover Bank4.682% 08/09/20280.3%
OCP Clo 2019-17 Ltd4.310% 07/20/20320.3%
Chord Energy Corp6.375% 06/01/20260.3%
Comstock Resources Inc5.875% 01/15/20300.3%
GLP Capital LP / GLP Financing II Inc5.750% 06/01/20280.3%
Exeter Automobile Receivables Trust 2020-33.440% 08/17/20260.3%
Triton Container International Ltd / TAL International Container Corp3.250% 03/15/20320.3%
Bayer US Finance II LLC4.375% 12/15/20280.3%
American Airlines 2021-1 Class A Pass Through Trust2.875% 01/11/20360.3%
Texas Capital Bancshares Inc4.000% 05/06/20310.3%
Earthstone Energy Holdings LLC8.000% 04/15/20270.3%
Morgan Stanley2.484% 09/16/20360.3%
Carvana Auto Receivables Trust 2019-44.700% 10/15/20260.3%
Berry Petroleum Co LLC7.000% 02/15/20260.3%
One New York Plaza Trust 2020-1NYP3.891% 01/15/20360.3%
Federal Home Loan Bank Discount Notes0.000% 09/23/20220.3%
30-YR UMBS-TBA PROD SEP5.000% 06/01/20520.3%
CIFC Funding 2021-IV Ltd3.562% 07/15/20330.3%
Capital One Financial Corp1.343% 12/06/20240.3%
Exeter Automobile Receivables Trust 2020-35.560% 06/15/20270.3%
NSTAR Electric Co4.550% 06/01/20520.3%
Flowserve Corp2.800% 01/15/20320.3%
Invitation Homes Operating Partnership LP2.000% 08/15/20310.3%
Fresenius Medical Care US Finance III Inc3.000% 12/01/20310.2%
Avant Loans Funding Trust 2021-REV14.300% 07/15/20300.2%
Protective Life Corp8.450% 10/15/20390.2%
BNP Paribas SA4.375% 03/01/20330.2%
Westpac Banking Corp2.668% 11/15/20350.2%
Baytex Energy Corp8.750% 04/01/20270.2%
PVH Corp7.750% 11/15/20230.2%
LoanCore 2022-CRE7 Issuer Ltd3.533% 01/17/20370.2%
Qorvo Inc4.375% 10/15/20290.2%
Rad CLO 2 Ltd4.012% 10/15/20310.2%
Energy Transfer LP0.000% 09/01/20220.2%
PulteGroup Inc6.375% 05/15/20330.2%
Tap Rock Resources LLC7.000% 10/01/20260.2%
Baltimore Gas and Electric Co4.550% 06/01/20520.2%
Laredo Petroleum Inc10.125% 01/15/20280.2%
Aon Corp8.205% 01/01/20270.2%
BPCE SA3.116% 10/19/20320.2%
Cellnex Finance Co SA3.875% 07/07/20410.2%
BX Commercial Mortgage Trust 2019-XL3.841% 10/15/20360.2%
FMG Resources August 2006 Pty Ltd5.875% 04/15/20300.2%
FirstEnergy Transmission LLC4.550% 04/01/20490.2%
Viterra Finance BV4.900% 04/21/20270.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
T-Mobile USA Inc3.875% 04/15/20300.2%
Citigroup Commercial Mortgage Trust 2016-P35.051% 04/15/20490.2%
NatWest Group PLC3.032% 11/28/20350.2%
30-YR UMBS-TBA PROD OCT4.000% 05/01/20520.2%
Nabors Industries Ltd7.250% 01/15/20260.2%
BX Commercial Mortgage Trust 2019-XL4.391% 10/15/20360.2%
Freddie Mac STACR REMIC Trust 2022-DNA14.033% 01/25/20420.2%
Glencore Finance Canada Ltd5.550% 10/25/20420.2%
Eaton Corp4.700% 08/23/20520.2%
Avolon Holdings Funding Ltd3.950% 07/01/20240.2%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.2%
Advanced Micro Devices Inc3.924% 06/01/20320.2%
Alfa Desarrollo SpA4.550% 09/27/20510.2%
EASTERN GAS TRANSMISSION & STO4.600% 12/15/20440.2%
Drive Chassis Holdco LLC9.178% 04/10/20260.2%
Diamondback Energy Inc3.500% 12/01/20290.2%
NOV Inc3.600% 12/01/20290.2%
Gulfport Energy Corp8.000% 05/17/20260.2%
EPR Properties3.750% 08/15/20290.2%
Morgan Stanley2.239% 07/21/20320.2%
AES Corp/The2.450% 01/15/20310.2%
Octagon Loan Funding Ltd4.141% 11/18/20310.2%
BX Commercial Mortgage Trust 2019-XL4.191% 10/15/20360.2%
CF Industries Inc5.150% 03/15/20340.2%
FedEx Corp4.250% 05/15/20300.2%
Selective Insurance Group Inc5.375% 03/01/20490.2%
Morgan Stanley5.297% 04/20/20370.2%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc4.700% 02/01/20360.2%
Oaktree CLO 2019-4 Ltd4.960% 10/20/20320.2%
GS Mortgage Securities Corp Trust 2021-ROSS7.041% 05/15/20260.2%
Marble Point CLO XVII Ltd4.010% 04/20/20330.2%
CIFC Funding 2019-II Ltd4.240% 04/17/20340.2%
CF Industries Inc5.375% 03/15/20440.2%
Ovintiv Inc6.625% 08/15/20370.2%
Mariner Finance Issuance Trust 2021-A5.400% 03/20/20360.2%
Gilead Sciences Inc4.000% 09/01/20360.2%
Morgan Stanley5.000% 11/24/20250.2%
Global Atlantic Fin Co4.700% 10/15/20510.2%
Duke Energy Corp4.500% 08/15/20320.2%
Avolon Holdings Funding Ltd5.250% 05/15/20240.2%
Hertz Vehicle Financing LLC3.980% 12/26/20250.2%
Bank of New York Mellon Corp/The4.596% 07/26/20300.2%
PFP 2019-6 Ltd4.491% 04/14/20370.2%
UnitedHealth Group Inc4.200% 05/15/20320.2%
Freddie Mac STACR REMIC Trust 2021-DNA73.983% 11/25/20410.2%
Lending Funding Trust 2020-26.770% 04/21/20310.2%
Advanced Micro Devices Inc4.393% 06/01/20520.2%
Viterra Finance BV2.000% 04/21/20260.2%
Barings CLO Ltd 2019-III4.310% 04/20/20310.2%
Lendmark Funding Trust 2021-24.460% 04/20/20320.2%
AMMC CLO 23 Ltd5.790% 10/17/20310.2%
Canacol Energy Ltd5.750% 11/24/20280.2%
Mountain View CLO 2017-1 LLC3.830% 10/16/20290.2%
Goldman Sachs Group Inc/The2.383% 07/21/20320.2%
Connecticut Avenue Securities Trust 2022-R014.083% 12/25/20410.2%
CS Master Trust6.340% 04/15/20250.2%
Flagship Credit Auto Trust 2019-14.080% 02/18/20250.2%
Voya CLO 2018-4 Ltd3.552% 01/15/20320.1%
Invitation Homes Operating Partnership LP3.358% 01/31/20250.1%
Imperial Brands Finance PLC6.125% 07/27/20270.1%
Westlake Automobile Receivables Trust 2021-13.910% 09/15/20270.1%
BX Commercial Mortgage Trust 2019-IMC4.541% 04/15/20340.1%
Continental Finance Credit Card ABS Master Trust3.660% 12/15/20280.1%
United States Treasury Note/Bond2.875% 05/15/20520.1%
BBCMS 2019-BWAY Mortgage Trust4.001% 11/15/20340.1%
Peabody Energy Corp6.375% 03/31/20250.1%
Toll Brothers Finance Corp3.800% 11/01/20290.1%
Fannie Mae Connecticut Avenue Securities4.183% 11/25/20410.1%
30-YR UMBS-TBA PROD SEP4.000% 05/01/20520.1%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.1%
Carlyle Global Market Strategies CLO 2015-5 Ltd5.010% 01/20/20320.1%
SPX FLOW Inc8.750% 04/01/20300.1%
Dell International LLC / EMC Corp3.375% 12/15/20410.1%
Aviation Capital Group LLC3.500% 11/01/20270.1%
CSMC 2022-NQM12.265% 11/25/20660.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.1%
30-YR UMBS-TBA PROD OCT5.500% 07/01/20520.1%
Topaz Solar Farms LLC5.750% 09/30/20390.1%
Consumers Energy Co4.200% 09/01/20520.1%
Wells Fargo Commercial Mortgage Trust 2015-SG14.602% 09/15/20480.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
Marble Point CLO XVII Ltd6.460% 04/20/20330.1%
First American Financial Corp2.400% 08/15/20310.1%
Westpac Banking Corp4.322% 11/23/20310.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Santander Consumer Auto Receivables Trust 2021-A5.790% 08/15/20280.1%
Macquarie Group Ltd2.691% 06/23/20320.1%
Ping Identity Corp6.305% 11/22/20280.1%
American Airlines Group Inc3.750% 03/01/20250.1%
PDC Energy Inc5.750% 05/15/20260.1%
National Australia Bank Ltd2.990% 05/21/20310.1%
HPLY Trust 2019-HIT3.391% 11/15/20360.1%
COMM 2015-PC1 Mortgage Trust4.435% 07/10/20500.1%
Perimeter Master Note Business Trust4.230% 05/15/20240.1%
Bombardier Inc6.000% 02/15/20280.1%
Duquesne Light Holdings Inc6.250% 08/15/20350.1%
Angel Oak Mortgage Trust 2021-71.978% 10/25/20660.1%
Huntington Bancshares Inc/OH2.487% 08/15/20360.1%
Laredo Petroleum Inc7.750% 07/31/20290.1%
Midcap Financial Issuer Trust6.500% 05/01/20280.1%
UniCredit SpA5.459% 06/30/20350.1%
Mariner Finance Issuance Trust 2021-B4.680% 11/20/20360.1%
30-YR GNMA II-TBA PROD OCT4.500% 07/01/20520.1%
CS Master Trust6.568% 04/15/20230.1%
Assurant Inc2.650% 01/15/20320.1%
Newark BSL CLO 2 Ltd4.533% 07/25/20300.1%
Western Alliance Bancorp3.000% 06/15/20310.1%
Ryder System Inc1.750% 09/01/20260.1%
California Resources Corp7.125% 02/01/20260.1%
Logan Group Co Ltd4.500% 01/13/20280.1%
SEB Funding LLC4.969% 01/30/20520.1%
Syniverse Holdings LLC/DE9.455% 05/13/20270.1%
US 10yr Ultra Fut Dec220.000% 12/30/20220.1%
JFIN CLO 2013 Ltd4.100% 01/20/20300.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Metropolitan Edison Co4.000% 04/15/20250.1%
Leidos Inc4.375% 05/15/20300.1%
Signal Peak CLO 2 LLC5.560% 04/20/20290.1%
Macquarie Bank Ltd4.875% 06/10/20250.1%
Benefit Street Partners Clo XII Ltd5.562% 10/15/20300.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
Great Wolf Trust 2019-WOLF5.123% 12/15/20360.1%
CoStar Group Inc2.800% 07/15/20300.1%
Country Garden Holdings Co Ltd3.875% 10/22/20300.1%
JPMBB Commercial Mortgage Securities Trust 2015-C304.373% 07/15/20480.1%
Intesa Sanpaolo SpA4.198% 06/01/20320.1%
Sunac China Holdings Ltd7.000% 07/09/20250.1%
ELEMENT MAT TEC GR US HLD INC0.000% 06/07/20290.1%
Morgan Stanley4.431% 01/23/20300.1%
Leidos Holdings Inc5.950% 12/01/20400.0%
RESORTS WORLD LAS VEGAS LLC4.024% 04/16/20240.0%
Sri Lanka Government International Bond5.875% 07/25/20220.0%
Galaxy XXI CLO Ltd3.730% 04/20/20310.0%
Elevation CLO 2014-2 Ltd5.712% 10/15/20290.0%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.0%
Wells Fargo Commercial Mortgage Trust 2013-LC124.433% 07/15/20460.0%
VMC Finance 2019-FL3 LLC3.491% 09/15/20360.0%
SM Energy Co6.625% 01/15/20270.0%
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%
Hudsons Bay Simon JV Trust 2015-HBS0.723% 08/05/20340.0%
FX USD/CAD 10/220.000% 10/20/20220.0%
Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
Merrill Lynch Mortgage Investors Trust Series 2006-AF26.250% 10/25/20360.0%
FX USD/GBP 09/220.000% 09/08/20220.0%
GS Mortgage Securities Trust 2015-GS10.327% 11/10/20480.0%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.0%
GS Mortgage Securities Trust 2013-GCJ120.656% 06/10/20460.0%
GS Mortgage Securities Trust 2013-GCJ121.517% 06/10/20460.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
Government National Mortgage Association0.351% 07/16/20540.0%
US LONG BOND(CBT) Dec220.000% 12/30/20220.0%
Alloy Finco Ltd0.500% 03/06/20250.0%
Hudsons Bay Simon JV Trust 2015-HBS0.665% 08/05/20340.0%
Avolon TLB Borrower 1 US LLC0.000% 12/01/20270.0%
Charter Communications Operating LLC4.280% 04/30/20250.0%
OGX Austria GmbH8.500% 06/01/20180.0%
ELEMNT MAT TECH GRP US HOL INC0.000% 06/22/20290.0%
LAC0.010% 12/31/20500.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
FX GBP/USD 09/220.000% 09/08/20220.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
US ULTRA BOND CBT Dec220.000% 12/30/20220.0%
LAC0.010% 12/31/20500.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
US 2YR NOTE (CBT) Dec220.000% 01/05/20230.0%
BARCLAYS0.010% 12/31/20500.0%
US 5YR NOTE (CBT) Dec220.000% 01/05/20230.0%

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 10/06/2022
$0.078
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2022 $0.00955 $2.34
Daily Daily 08/31/2022 $0.00999 $2.48
Daily Daily 07/31/2022 $0.00946 $2.56
Daily Daily 06/30/2022 $0.00881 $2.49
Daily Daily 05/31/2022 $0.00845 $2.58
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 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 09/30/2022

0.45%

Fund Documents

Fund Documents

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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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