LOGVX | Income Fund Class F3 | Lord Abbett
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Income Fund

Daily price w/o sales charge as of 10/21/2021

$2.97

arrowDown$0.01

YTD Returns w/o sales charge as of 10/21/2021

0.67%

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 10/21/2021  

w/o sales charge 3.21%

30-Day Standardized Yield 2 as of 09/30/2021  

2.19%

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

Fund Basicsas of 09/30/2021

Total Net Assets
$3.11 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.48%
Number of Holdings
438

Fund Expense Ratio :

0.48%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 1.50% 5.52% 7.17% 5.09% 5.62% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -0.96% 1.90% 7.16% 4.34% 4.75% -
Bloomberg U.S. Credit Bond Index -1.30% 1.45% 7.10% 4.37% 4.60% -

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 1.50% 5.52% 7.17% 5.09% 5.62% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -0.96% 1.90% 7.16% 4.34% 4.75% -
Bloomberg U.S. Credit Bond Index -1.30% 1.45% 7.10% 4.37% 4.60% -

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
Bank Loans
U.S. Government Related
CLO
CMBS
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 09/30/2021 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

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 10/21/2021  

w/o sales charge 3.21%

30-Day Standardized Yield 2 as of 09/30/2021  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.19% 2.19%

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 1.50% 5.52% 7.17% 5.09% 5.62% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -0.96% 1.90% 7.16% 4.34% 4.75% -
Bloomberg U.S. Credit Bond Index -1.30% 1.45% 7.10% 4.37% 4.60% -

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 1.50% 5.52% 7.17% 5.09% 5.62% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated -0.96% 1.90% 7.16% 4.34% 4.75% -
Bloomberg U.S. Credit Bond Index -1.30% 1.45% 7.10% 4.37% 4.60% -

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 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% 3.59% 0.48% - 0.67%
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
CLO
CMBS
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 09/30/2021

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 09/30/2021

Total Net Assets
$3.11 B
Number of Issues
438
Average Coupon
3.89%
Average Life
9.64 Years
Average Maturity
9.4 Years
Average Effective Duration
6.93 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 0.625% 07/31/2026 3.5%
United States Treasury Note/Bond 2.000% 08/15/2051 2.1%
United States Treasury Note/Bond 1.125% 05/15/2040 1.7%
United States Treasury Note/Bond 1.250% 08/15/2031 1.6%
General Electric Co 3.449% 06/15/2199 1.5%
Seminole Tribe of Florida 4.331% 07/08/2024 1.4%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl 4.700% 02/01/2036 1.3%
Pacific Gas and Electric Co 4.550% 07/01/2030 1.0%
AT&T Inc 4.300% 02/15/2030 1.0%
Oracle Corp 6.125% 07/08/2039 0.9%
% of Total Assets 16.0%
Holding Coupon Maturity Assets
United States Treasury Note/Bond0.625% 07/31/20263.6%
United States Treasury Note/Bond2.000% 08/15/20512.2%
United States Treasury Note/Bond1.125% 05/15/20401.8%
General Electric Co3.514% 06/15/21991.5%
Seminole Tribe of Florida4.331% 07/08/20241.3%
Pacific Gas and Electric Co4.550% 07/01/20301.0%
AT&T Inc4.300% 02/15/20301.0%
General Motors Co6.750% 04/01/20460.9%
United States Treasury Note/Bond1.625% 05/15/20310.8%
United States Treasury Note/Bond1.250% 08/15/20310.8%
AT&T Inc2.875% 05/01/21990.8%
AT&T Inc3.500% 09/15/20530.8%
Hilton Worldwide Finance, LLC1.995% 06/22/20260.8%
Time Warner Cable LLC7.300% 07/01/20380.8%
PSEG Power LLC8.625% 04/15/20310.7%
Murphy USA Inc2.250% 01/21/20280.7%
NGPL Pipeco LLC4.875% 08/15/20270.7%
Altria Group Inc5.950% 02/14/20490.7%
Ford Motor Co7.450% 07/16/20310.7%
Lamar Media Corp1.608% 02/26/20270.7%
VICI Properties 1 LLC1.865% 12/20/20240.7%
JBS USA Lux S.A. (fka JBS USA, LLC)3.101% 05/01/20260.6%
Bank of America Corp2.687% 04/22/20320.6%
Citigroup Inc2.561% 05/01/20320.6%
BAT Capital Corp4.390% 08/15/20370.6%
Trans Union LLC2.272% 11/13/20260.6%
NRG Energy Inc4.450% 06/15/20290.5%
Hess Corp5.600% 02/15/20410.5%
United Rentals North America Inc3.875% 11/15/20270.5%
Dell International LLC / EMC Corp.8.350% 07/15/20460.5%
Charter Communications Operating LLC6.484% 10/23/20450.5%
Bayer Corp6.650% 02/15/20280.5%
UBS AG5.125% 05/15/20240.5%
ENI SpA5.700% 10/01/20400.5%
United States Treasury Note/Bond2.250% 08/15/20490.5%
Cenovus Energy Inc5.375% 07/15/20250.5%
Nielsen Finance LLC (VNU, Inc.)3.831% 10/04/20230.5%
HCA Inc5.500% 06/15/20470.5%
Exelon Generation Co LLC6.250% 10/01/20390.5%
Global Payments Inc3.200% 08/15/20290.5%
Boeing Co/The5.805% 05/01/20500.5%
American Campus Communities Operating Partnership3.875% 01/30/20310.4%
Vistra Operations Co LLC3.550% 07/15/20240.4%
Apache Corp5.100% 09/01/20400.4%
Bank of Ireland Group PLC4.125% 09/19/20270.4%
Danske Bank A/S5.375% 01/12/20240.4%
Dell International LLC / EMC Corp.6.020% 06/15/20260.4%
Universal Health Services Inc2.650% 10/15/20300.4%
CIFC Funding 2021-I Ltd1.675% 04/25/20330.4%
Charles Schwab Corp/The5.375% 09/01/21990.4%
Avis Budget Rental Car Funding3.710% 08/20/20270.4%
El Paso Electric Co6.000% 05/15/20350.4%
VMware Inc4.700% 05/15/20300.4%
Puget Energy Inc4.100% 06/15/20300.4%
CNO Financial Group Inc5.250% 05/30/20250.4%
XPO Logistics, Inc.2.188% 02/24/20250.4%
Oglethorpe Power Corp5.950% 11/01/20390.4%
Goldman Sachs Group Inc/The6.750% 10/01/20370.4%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.4%
Nvent Finance Sarl4.550% 04/15/20280.4%
National Australia Bank Ltd3.933% 08/02/20340.4%
BlueMountain CLO XXVIII Ltd1.626% 04/15/20340.4%
Fluor Corp4.250% 09/15/20280.4%
Ally Financial Inc8.000% 11/01/20310.4%
Anglo American Capital plc5.625% 04/01/20300.4%
BankUnited Inc5.125% 06/11/20300.4%
NVR Inc3.000% 05/15/20300.4%
Boeing Co/The5.150% 05/01/20300.4%
IPALCO Enterprises Inc4.250% 05/01/20300.4%
Patterson-UTI Energy Inc3.950% 02/01/20280.4%
Devon Energy Corp4.500% 01/15/20300.4%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.4%
Williams Cos Inc/The8.750% 03/15/20320.4%
CNO Financial Group Inc5.250% 05/30/20290.4%
DaVita HealthCare Partners Inc. (fka DaVita Inc.)1.607% 08/12/20240.4%
Assurant Inc3.700% 02/22/20300.4%
Aircastle Ltd4.250% 06/15/20260.4%
Huntington Ingalls Industries Inc3.844% 05/01/20250.3%
Alcoa Nederland Holding BV4.125% 03/31/20290.3%
One Bryant Park Trust 2019-OBP2.516% 09/15/20540.3%
Diamondback Energy Inc3.500% 12/01/20290.3%
MPT Operating Partnership LP / MPT Finance Corp4.625% 08/01/20290.3%
Suncor Energy Inc7.875% 06/15/20260.3%
Aircastle Ltd2.850% 01/26/20280.3%
Carnival Corp11.500% 04/01/20230.3%
Duquesne Light Holdings Inc2.775% 01/07/20320.3%
Westpac Banking Corp4.110% 07/24/20340.3%
HCA Healthcare Inc1.843% 06/23/20280.3%
Madison Park Funding XVII Ltd1.634% 07/21/20300.3%
Elmwood CLO VIII Ltd1.684% 01/20/20340.3%
Owens Illinois, Inc.0.000% 06/25/20240.3%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.3%
Braskem Netherlands Finance BV4.500% 01/31/20300.3%
Metropolitan Transportation Authority6.668% 11/15/20390.3%
Occidental Petroleum Corp6.625% 09/01/20300.3%
Leidos Inc7.125% 07/01/20320.3%
Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.3%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.3%
UBS AG/Stamford CT7.625% 08/17/20220.3%
Niagara Park Clo Ltd1.734% 07/17/20320.3%
FirstEnergy Transmission LLC4.550% 04/01/20490.3%
Canadian Natural Resources Ltd.7.200% 01/15/20320.3%
Suncor Energy Ventures Corp4.500% 04/01/20220.3%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.3%
Bain Capital Credit CLO 2017-11.104% 07/20/20300.3%
Park Aerospace Holdings Ltd5.500% 02/15/20240.3%
DaVita HealthCare Partners Inc. (fka DaVita Inc.)1.856% 08/12/20260.3%
Freeport-McMoRan Inc5.450% 03/15/20430.3%
Romark CLO Ltd1.788% 10/23/20300.3%
First American Financial Corp2.400% 08/15/20310.3%
GLP Capital LP / GLP Financing II Inc5.750% 06/01/20280.3%
Navient Corp6.750% 06/25/20250.3%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20360.3%
CenturyLink, Inc.2.336% 01/28/20250.3%
Bayer US Finance II LLC4.375% 12/15/20280.3%
CBAM 2017-1 Ltd3.884% 07/20/20300.3%
Protective Life Corp8.450% 10/15/20390.3%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.3%
EPR Properties4.950% 04/15/20280.3%
Arbor Realty Collateralized Loan Obligation Ltd1.496% 05/15/20360.3%
Tapestry Inc4.125% 07/15/20270.3%
Texas Capital Bancshares Inc4.000% 05/06/20310.3%
Invitation Homes Operating Partnership LP2.000% 08/15/20310.3%
Oracle Corp6.125% 07/08/20390.3%
Continental Resources Inc/OK4.900% 06/01/20440.3%
Westinghouse Air Brake Technologies Corp4.950% 09/15/20280.3%
Discover Bank4.682% 08/09/20280.3%
PulteGroup Inc6.375% 05/15/20330.3%
State of Illinois5.100% 06/01/20330.3%
Emera US Finance LP4.750% 06/15/20460.3%
Ready Capital Mortgage Financing 2021-FL5 LLC3.084% 04/25/20380.3%
Netflix Inc3.625% 05/15/20270.3%
Great Wolf Trust 2019-WOLF1.130% 12/15/20360.3%
Goodman US Finance Three LLC3.700% 03/15/20280.3%
MPLX LP1.285% 09/09/20220.3%
Westpac Banking Corp2.668% 11/15/20350.3%
Playtika Holding Corp2.835% 03/05/20280.3%
BFLD 2019-DPLO2.336% 10/15/20340.3%
Charter Communications, Inc. CL A1.865% 04/30/20250.3%
Suzano Austria GmbH3.750% 01/15/20310.3%
Kayne CLO 7 Ltd1.334% 04/17/20330.3%
Exeter Automobile Receivables Trust 2020-33.440% 08/17/20260.3%
Enbridge Energy Partners LP7.500% 04/15/20380.2%
OCP Clo 2019-17 Ltd1.734% 07/20/20320.2%
Morgan Stanley5.875% 12/31/20990.2%
Regeneron Pharmaceuticals Inc1.750% 09/15/20300.2%
Glencore Finance Canada Ltd5.550% 10/25/20420.2%
Lendmark Funding Trust 2019-15.340% 12/20/20270.2%
Carvana Auto Receivables Trust 2019-44.700% 10/15/20260.2%
Logmein Inc4.847% 08/14/20270.2%
AerCap Ireland Capital DAC / AerCap Global Aviatio3.500% 01/15/20250.2%
Imperial Brands Finance PLC3.875% 07/26/20290.2%
One New York Plaza Trust 2020-1NYP1.596% 01/15/20260.2%
Central American Bottling Corp.5.750% 01/31/20270.2%
Exeter Automobile Receivables Trust 2020-35.560% 06/15/20270.2%
Anglo American Capital plc4.750% 04/10/20270.2%
Aon Corp8.205% 01/01/20270.2%
Halliburton Co7.450% 09/15/20390.2%
Oleoducto Central SA4.000% 07/14/20270.2%
Avant Loans Funding Trust 2021-REV14.300% 07/15/20300.2%
Stanley Black & Decker Inc4.000% 03/15/20600.2%
Neuberger Berman Group LLC / Neuberger Berman Fina4.500% 03/15/20270.2%
Universal Health Services Inc5.000% 06/01/20260.2%
Time Warner Entertainment Co LP8.375% 07/15/20330.2%
CIFC Funding 2021-IV Ltd1.144% 07/15/20330.2%
Dell International LLC2.000% 09/19/20250.2%
Nutrition & Biosciences2.505% 01/17/20250.2%
Boeing Co0.000% 02/06/20220.2%
PVH Corp7.750% 11/15/20230.2%
Cleco Power LLC6.000% 12/01/20400.2%
Centene Corp4.625% 12/15/20290.2%
Macquarie Bank Ltd3.052% 03/03/20360.2%
Neuberger Berman Group LLC / Neuberger Berman Fina4.875% 04/15/20450.2%
Selective Insurance Group Inc5.375% 03/01/20490.2%
Invitation Homes, Inc.0.000% 01/31/20250.2%
Kayne CLO II Ltd1.626% 10/15/20310.2%
Skyworks Solutions Inc3.000% 06/01/20310.2%
E*TRADE Financial Corp4.500% 06/20/20280.2%
Laredo Petroleum Inc10.125% 01/15/20280.2%
American Homes 4 Rent LP4.250% 02/15/20280.2%
CNH Industrial Capital LLC4.375% 04/05/20220.2%
Western Alliance Bancorp3.000% 06/15/20310.2%
Citigroup Commercial Mortgage Trust 2016-P35.057% 04/15/20490.2%
Churchill Downs Incorporated2.107% 03/10/20280.2%
BX Commercial Mortgage Trust 2019-XL1.546% 10/15/20360.2%
Comcast Hulu Holdings LLC0.913% 03/15/20240.2%
Wyndham Hotels & Resorts3.972% 03/28/20250.2%
Delos Finance Sarl4.081% 10/06/20230.2%
Fairstone Financial Issuance Trust I5.162% 10/20/20390.2%
FirstEnergy Corp4.400% 07/15/20270.2%
Morgan Stanley2.239% 07/21/20320.2%
AES Corp/The2.450% 01/15/20310.2%
NOV Inc3.600% 12/01/20290.2%
BX Commercial Mortgage Trust 2019-XL2.096% 10/15/20360.2%
Boeing Co/The5.705% 05/01/20400.2%
Mariner Finance Issuance Trust 2021-A5.400% 03/20/20360.2%
Viterra Finance BV3.200% 04/21/20310.2%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.2%
Banijay Group US Holding3.841% 02/04/20250.2%
Webster Financial Corp4.100% 03/25/20290.2%
Global Atlantic Fin Co4.700% 10/15/20510.2%
Kraft Heinz Foods Co4.875% 10/01/20490.2%
Owens Corning7.000% 12/01/20360.2%
AstraZeneca plc6.450% 09/15/20370.2%
Buckeye Partners LP6.375% 01/22/20780.2%
CyrusOne LP / CyrusOne Finance Corp3.450% 11/15/20290.2%
Ovintiv Inc6.625% 08/15/20370.2%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.2%
CoStar Group Inc2.800% 07/15/20300.2%
Toll Brothers Finance Corp4.875% 03/15/20270.2%
Global Payments Inc.0.000% 07/09/20240.2%
Berry Petroleum Co LLC7.000% 02/15/20260.2%
Boeing Co/The4.875% 05/01/20250.2%
AerCap Ireland Capital DAC / AerCap Global Aviatio3.875% 01/23/20280.2%
BX Commercial Mortgage Trust 2019-XL1.896% 10/15/20360.2%
Morgan Stanley5.000% 11/24/20250.2%
Steel Dynamics Inc5.000% 12/15/20260.2%
Cigna Corp6.125% 11/15/20410.2%
GS Mortgage Securities Corp Trust 2021-ROSS4.746% 05/15/20260.2%
Goldman Sachs Group Inc/The2.383% 07/21/20320.2%
Independence Energy Finance LLC7.250% 05/01/20260.2%
Expedia Group Inc2.950% 03/15/20310.2%
Lundin Energy Finance BV3.100% 07/15/20310.2%
Avolon Holdings Funding Ltd4.250% 04/15/20260.2%
Expedia Group Inc4.625% 08/01/20270.2%
Avolon Tlb Borrower 1 Us2.750% 12/01/20270.2%
Marble Point CLO XVII Ltd3.884% 04/20/20330.2%
Hertz Vehicle Financing LLC3.980% 12/26/20250.2%
Oasis Petroleum Inc0.000% -0.2%
KKR CLO 30 Ltd2.134% 10/17/20310.2%
American Airlines 2014-1 Class B Pass Through Trus4.375% 10/01/20220.2%
Octagon Loan Funding Ltd1.305% 11/18/20310.2%
Puget Energy Inc3.650% 05/15/20250.2%
Enbridge Inc6.000% 01/15/20770.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
Fresenius Medical Care US Finance III Inc3.750% 06/15/20290.2%
Marble Point CLO XVII Ltd1.434% 04/20/20330.2%
Glencore Funding LLC2.850% 04/27/20310.2%
Centene Corp2.625% 08/01/20310.2%
Toll Brothers Finance Corp3.800% 11/01/20290.1%
Bath & Body Works Inc6.875% 11/01/20350.1%
PFP 2019-6 Ltd2.196% 04/14/20370.1%
BBVA Bancomer SA/Texas5.125% 01/18/20330.1%
Mountain View CLO 2017-1 LLC1.216% 10/16/20290.1%
Prosus NV3.680% 01/21/20300.1%
Barings CLO Ltd 2019-III1.734% 04/20/20310.1%
Benchmark 2020-B22 Mortgage Trust2.000% 01/15/20540.1%
Brightsphere Investment Group Inc4.800% 07/27/20260.1%
Origin Energy Finance Ltd5.450% 10/14/20210.1%
PulteGroup Inc7.875% 06/15/20320.1%
Midcap Financial Issuer Trust6.500% 05/01/20280.1%
Banco Nacional de Comercio Exterior SNC2.720% 08/11/20310.1%
Sri Lanka Government International Bond5.875% 07/25/20220.1%
Topaz Solar Farms LLC5.750% 09/30/20390.1%
CS Master Trust4.042% 04/15/20250.1%
BNP Paribas SA4.500% 08/25/21990.1%
Oracle Corp2.950% 04/01/20300.1%
Aviation Capital Group LLC3.500% 11/01/20270.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
Flagship Credit Auto Trust 2019-14.080% 02/18/20250.1%
Westlake Automobile Receivables Trust 2021-14.310% 09/15/20270.1%
Continental Finance Credit Card ABS Master Trust3.660% 12/15/20280.1%
BX Commercial Mortgage Trust 2019-IMC2.246% 04/15/20340.1%
American Homes 4 Rent LP4.900% 02/15/20290.1%
ZAXBY'S FUNDING LLC3.238% 07/30/20510.1%
Voya CLO 2018-4 Ltd1.166% 01/15/20320.1%
Fresenius Medical Care US Finance III Inc2.375% 02/16/20310.1%
Avolon Holdings Funding Ltd5.125% 10/01/20230.1%
BBCMS 2019-BWAY Mortgage Trust1.706% 11/15/20340.1%
Kraft Heinz Foods Co4.375% 06/01/20460.1%
Lending Funding Trust 2020-26.770% 04/21/20310.1%
Macquarie Group Ltd2.691% 06/23/20320.1%
Specialty Building Products Holdings LLC / SBP Fin6.375% 09/30/20260.1%
Wind River 2015-2 CLO Ltd2.726% 10/15/20270.1%
NiSource Inc5.950% 06/15/20410.1%
American Homes 4 Rent LP2.375% 07/15/20310.1%
KKR CLO 18 Ltd1.834% 07/18/20300.1%
Diamondback Energy Inc4.750% 05/31/20250.1%
Westpac Banking Corp4.322% 11/23/20310.1%
National Australia Bank Ltd2.990% 05/21/20310.1%
Foursight Capital Automobile Receivables Trust 2014.190% 11/15/20230.1%
Wells Fargo Commercial Mortgage Trust4.610% 09/15/20480.1%
Glencore Finance Canada Ltd6.000% 11/15/20410.1%
Freeport-McMoRan Inc4.250% 03/01/20300.1%
Ally Financial Inc4.700% 08/15/21990.1%
Duquesne Light Holdings Inc6.250% 08/15/20350.1%
United States Steel Corp6.875% 03/01/20290.1%
Ford Motor Co3.335% 12/31/20220.1%
Ovintiv Inc6.500% 02/01/20380.1%
COMM 2015-PC1 Mortgage Trust4.463% 07/10/20500.1%
Hawaiian Brand Intellectual Property Ltd / Hawaiia5.750% 01/20/20260.1%
PDC Energy Inc5.750% 05/15/20260.1%
Viper Energy Partners LP5.375% 11/01/20270.1%
Nordstrom Inc4.375% 04/01/20300.1%
Gulfport Energy Operating Corp8.000% 05/17/20260.1%
Matador Resources Co5.875% 09/15/20260.1%
Eastern Gas Transmission & Storage Inc4.600% 12/15/20440.1%
Assurant Inc2.650% 01/15/20320.1%
New Jersey Transportation Trust Fund Authority4.131% 06/15/20420.1%
HPLY Trust 2019-HIT1.096% 11/15/20360.1%
American Axle & Manufacturing Inc6.875% 07/01/20280.1%
PetSmart Inc / PetSmart Finance Corp7.750% 02/15/20290.1%
Nationstar Mortgage Holdings Inc5.500% 08/15/20280.1%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.1%
Nabors Industries Ltd7.250% 01/15/20260.1%
OneMain Finance Corp4.000% 09/15/20300.1%
Boeing Co/The5.930% 05/01/20600.1%
Party City Holdings Inc8.750% 02/15/20260.1%
Range Resources Corp8.250% 01/15/20290.1%
Shift4 Payments LLC / Shift4 Payments Finance Sub4.625% 11/01/20260.1%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.1%
NCL Corp Ltd3.625% 12/15/20240.1%
Clarios Global LP / Clarios US Finance Co8.500% 05/15/20270.1%
Perimeter Master Note Business Trust4.230% 05/15/20240.1%
Royal Caribbean Cruises Ltd3.700% 03/15/20280.1%
Uber Technologies Inc6.250% 01/15/20280.1%
Pike Corp5.500% 09/01/20280.1%
AerCap Ireland Capital DAC / AerCap Global Aviatio4.875% 01/16/20240.1%
US Renal Care Inc10.625% 07/15/20270.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
Cheniere Corpus Christi Holdings LLC3.700% 11/15/20290.1%
J.P. Morgan Chase Commercial Mortgage Securities T3.392% 06/05/20320.1%
Freeport-McMoRan Inc5.250% 09/01/20290.1%
Shea Homes LP / Shea Homes Funding Corp.4.750% 02/15/20280.1%
Citigroup Inc4.600% 03/09/20260.1%
Hess Corporation2.558% 03/16/20230.1%
SM Energy Co6.625% 01/15/20270.1%
CS Master Trust4.266% 04/15/20230.1%
VistaJet Malta Finance PLC / XO Management Holding10.500% 06/01/20240.1%
Twilio Inc3.875% 03/15/20310.1%
SM Energy Co6.750% 09/15/20260.1%
Leidos Inc4.375% 05/15/20300.1%
Centene Corp2.450% 07/15/20280.1%
Switch Ltd3.750% 09/15/20280.1%
Ahead DB Holdings LLC6.625% 05/01/20280.1%
California Resources Corp7.125% 02/01/20260.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Planet Fitness Master Issuer LLC3.858% 12/05/20490.1%
VMC Finance 2019-FL3 LLC1.193% 09/15/20360.1%
MHP Lux SA6.950% 04/03/20260.1%
Kennedy-Wilson Inc4.750% 03/01/20290.1%
Scientific Games International, Inc.2.835% 08/14/20240.1%
Twilio Inc3.625% 03/15/20290.1%
Cellnex Finance Co SA3.875% 07/07/20410.1%
Intesa Sanpaolo SpA4.198% 06/01/20320.1%
Macquarie Bank Ltd4.875% 06/10/20250.1%
MEG Energy Corp7.125% 02/01/20270.1%
JFIN CLO 2013 Ltd1.524% 01/20/20300.1%
Signal Peak CLO 2 LLC2.984% 04/20/20290.1%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.1%
Turkiye Vakiflar Bankasi TAO5.750% 01/30/20230.1%
Benefit Street Partners Clo XII Ltd3.176% 10/15/20300.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
Great Wolf Trust 2019-WOLF2.828% 12/15/20360.1%
Ken Garff Automotive LLC4.875% 09/15/20280.1%
Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd8.000% 09/20/20250.1%
JPMBB Commercial Mortgage Securities Trust4.408% 07/15/20480.1%
American Airlines Group Inc3.750% 03/01/20250.1%
Carvana Co5.875% 10/01/20280.1%
EagleView Technology Corporation3.585% 08/14/20250.1%
Scientific Games International, Inc.7.250% 11/15/20290.1%
Glencore Funding LLC4.125% 05/30/20230.1%
Carvana Co5.625% 10/01/20250.1%
Leidos Holdings Inc5.950% 12/01/20400.1%
Zayo Group Holdings Inc6.125% 03/01/20280.1%
SL Green Realty Corp4.500% 12/01/20220.1%
Yamana Gold Inc2.630% 08/15/20310.1%
E*TRADE Financial Corp3.800% 08/24/20270.1%
EQT Corp3.625% 05/15/20310.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 12/15/20230.1%
Park Intermediate Holdings LLC / PK Domestic Prope5.875% 10/01/20280.1%
Laredo Petroleum Inc7.750% 07/31/20290.0%
Wells Fargo Commercial Mortgage Trust4.443% 07/15/20460.0%
BlueMountain CLO 2013-1 Ltd1.884% 01/20/20290.0%
Oglethorpe Power Corp4.200% 12/01/20420.0%
Physicians Realty LP3.950% 01/15/20280.0%
Turkiye Vakiflar Bankasi TAO5.625% 05/30/20220.0%
Hardee's Funding LLC5.710% 06/20/20480.0%
GS Mortgage Securities Trust 2015-GC324.609% 07/10/20480.0%
Deephaven Residential Mortgage Trust 2020-12.339% 01/25/20600.0%
Resorts World Las Vegas LLC1.598% 04/16/20240.0%
Verus Securitization Trust 2020-12.417% 01/25/20600.0%
MHP Lux SA6.250% 09/19/20290.0%
ZF North America Capital Inc4.500% 04/29/20220.0%
Metropolitan Edison Co4.000% 04/15/20250.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
Galaxy XXI CLO Ltd1.154% 04/20/20310.0%
Danske Bank A/S4.375% 06/12/20280.0%
Elevation CLO 2014-2 Ltd3.326% 10/15/20290.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
BAT Capital Corp4.700% 04/02/20270.0%
OCP SA3.750% 06/23/20310.0%
Halcyon Loan Advisors Funding Ltd.2.275% 07/25/20270.0%
CSX Transportation Inc7.875% 05/15/20430.0%
Glencore Funding LLC3.000% 10/27/20220.0%
New Jersey Transportation Trust Fund Authority4.081% 06/15/20390.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.0%
State of Illinois4.950% 06/01/20230.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
Glencore Finance Canada Ltd4.250% 10/25/20220.0%
Stericycle Inc3.528% 11/17/20220.0%
Doncasters US Finance LLC (Doncasters US LLC)8.500% 03/31/20240.0%
NGPL Pipeco LLC3.250% 07/15/20310.0%
Residential Mortgage Loan Trust 2020-12.376% 02/25/20240.0%
Leidos Inc5.500% 07/01/20330.0%
GS Mortgage Securities Trust 2013-GCJ120.655% 06/10/20460.0%
GS Mortgage Securities Trust 2013-GCJ121.535% 06/10/20460.0%
CPS Auto Trust4.610% 12/15/20220.0%
Hudsons Bay Simon JV Trust 2015-HBS0.723% 08/05/20340.0%
UTEX Industries0.000% -0.0%
Merrill Lynch Mortgage Investors Trust Series6.250% 10/25/20360.0%
GS Mortgage Securities Trust 2015-GS10.330% 11/10/20480.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Westinghouse Air Brake Technologies Corp3.200% 06/15/20250.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Occidental Petroleum Corp1.575% 08/15/20220.0%
Government National Mortgage Association0.495% 07/16/20540.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Avery Point IV CLO Ltd1.725% 04/25/20260.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap0.000% 08/17/20610.0%
Hudsons Bay Simon JV Trust 2015-HBS0.665% 08/05/20340.0%
Occidental Petroleum Corp3.500% 08/15/20290.0%
UTEX Industries5.250% 11/01/20240.0%
UTEX Industries8.500% 11/01/20240.0%
Dommo Energia SA0.000% -0.0%
UTEX Industries0.000% -0.0%
Freddie Mac REMICS0.000% 08/15/20220.0%
OGX Austria GmbH8.500% 06/01/20220.0%
US 10YR ULTRA FUT DEC210.000% 12/31/20210.0%
US 2YR NOTE (CBT) DEC210.000% 01/05/20220.0%
US LONG BOND(CBT) DEC210.000% 12/31/20210.0%
US ULTRA BOND CBT DEC210.000% 12/31/20210.0%
Commercial Mortgage Backed Index Swap0.000% 11/17/20590.0%
EURO-BOBL FUT DEC210.000% 12/10/20210.0%
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 REMICS982.654% 04/15/20220.0%
US 5YR NOTE (CBT) DEC210.000% 01/05/20220.0%
FX USD/CAD 10/210.000% 10/20/20210.0%
CPI Swap0.010% 08/11/20260.0%
CPI Swap0.010% 06/16/20260.0%
CPI Swap0.010% 06/16/20260.0%

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 10/21/2021
$0.074
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2021 $0.00795 $3.00
Daily Daily 08/31/2021 $0.00818 $3.03
Daily Daily 07/31/2021 $0.00846 $3.04
Daily Daily 06/30/2021 $0.00818 $3.01
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 10/31/2021
Daily Daily 11/30/2021
Daily Daily 12/31/2021

Fees & Expenses

Fees & Expenses

Expense Ratioas of 09/30/2021

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
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Summary Prospectus
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Statutory Prospectus
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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
Fund Story
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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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