LAUYX | Income Fund Class I | Lord Abbett

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Income Fund

Daily price w/o sales charge as of 01/14/2022

$2.88

arrowDown$0.02

YTD Returns w/o sales charge as of 01/14/2022

-1.93%

Overall Morningstar Ratings

Corporate Bond
as of 12/31/2021

Morningstar rated the Lord Abbett Income Fund class I share 3, 3 and 4 stars among 191, 149 and 90 Corporate Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 12/31/2021, 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 01/14/2022  

w/o sales charge 3.11%

30-Day Standardized Yield 2 as of 12/31/2021  

2.38%

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

Fund Basicsas of 12/31/2021

Total Net Assets
$3.20 B
Inception Date
10/19/2004
Dividend Frequency
Monthly
Fund Expense Ratio
0.56%
Number of Holdings
399
Minimum Initial Investment
$1,000,000+

+Minimum Exceptions, Click here.

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

In addition, the Fund has amended its strategy on December 14, 2007. 

Fund Expense Ratio :

0.56%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 1.85% 1.85% 7.62% 5.42% 5.30% 5.88%
Lipper Category Avg. Corporate Debt Funds BBB-Rated -0.93% -0.93% 7.32% 4.96% 4.54% -
Bloomberg U.S. Credit Bond Index -1.08% -1.08% 7.17% 5.05% 4.45% 4.95%

Fund Expense Ratio :

0.56%

Fund Expense Ratio :

0.56%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 1.85% 1.85% 7.62% 5.42% 5.30% 5.88%
Lipper Category Avg. Corporate Debt Funds BBB-Rated -0.93% -0.93% 7.32% 4.96% 4.54% -
Bloomberg U.S. Credit Bond Index -1.08% -1.08% 7.17% 5.05% 4.45% 4.95%

Fund Expense Ratio :

0.56%

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 12/31/2021 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

23 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

30 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

27 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

20 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Managing Director, Portfolio Manager

18 Years of Industry Experience

Eric P. Kang
Eric P. Kang

Portfolio Manager

22 Years of Industry Experience

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

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Performance

Performance

Dividend Yield 1 as of 01/14/2022  

w/o sales charge 3.11%

30-Day Standardized Yield 2 as of 12/31/2021  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.38% 2.38%

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

Fund Expense Ratio :

0.56%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 1.85% 1.85% 7.62% 5.42% 5.30% 5.88%
Lipper Category Avg. Corporate Debt Funds BBB-Rated -0.93% -0.93% 7.32% 4.96% 4.54% -
Bloomberg U.S. Credit Bond Index -1.08% -1.08% 7.17% 5.05% 4.45% 4.95%

Fund Expense Ratio :

0.56%

Fund Expense Ratio :

0.56%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 1.85% 1.85% 7.62% 5.42% 5.30% 5.88%
Lipper Category Avg. Corporate Debt Funds BBB-Rated -0.93% -0.93% 7.32% 4.96% 4.54% -
Bloomberg U.S. Credit Bond Index -1.08% -1.08% 7.17% 5.05% 4.45% 4.95%

Fund Expense Ratio :

0.56%

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 1.85% -1.08%
2020 8.16% 9.35%
2019 13.14% 13.80%
2018 -2.50% -2.11%
2017 7.14% 6.18%
2016 8.95% 5.63%
2015 -2.90% -0.77%
2014 7.43% 7.53%
2013 0.47% -2.01%
2012 12.72% 9.37%
2011 6.75% -
2010 11.47% -
2009 30.77% -
2008 -10.22% -
2007 6.96% -
2006 3.56% -
2005 2.61% -
2004 0.41% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 -2.50% 3.57% 0.46% 0.40% 1.85%
2020 -9.06% 11.07% 3.02% 3.93% 8.16%
2019 5.25% 3.59% 2.42% 1.31% 13.14%
2018 -1.44% -0.71% 0.72% -1.08% -2.50%
2017 2.38% 1.99% 1.65% 0.94% 7.14%
2016 3.12% 4.41% 2.80% -1.56% 8.95%
2015 1.87% -1.67% -2.04% -1.04% -2.90%
2014 3.77% 3.69% -0.14% -0.01% 7.43%
2013 1.25% -3.48% 0.97% 1.81% 0.47%
2012 3.83% 1.33% 4.74% 2.29% 12.72%
2011 2.08% 2.40% -0.38% 2.52% 6.75%
2010 3.81% 1.86% 5.45% -0.03% 11.47%
2009 3.21% 12.93% 9.69% 2.30% 30.77%
2008 1.24% 0.24% -5.97% -5.92% -10.22%
2007 1.24% -0.78% 3.22% 3.16% 6.96%
2006 -0.83% -0.05% 3.62% 0.84% 3.56%
2005 -0.13% 2.96% -0.88% 0.68% 2.61%
2004 - - - - 0.41%

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 12/31/2021

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 12/31/2021

Total Net Assets
$3.20 B
Number of Issues
399
Average Coupon
3.72%
Average Life
8.75 Years
Average Maturity
8.71 Years
Average Effective Duration
6.73 Years

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

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

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

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
United States Treasury Note/Bond 1.125% 10/31/2026 3.2%
United States Treasury Note/Bond 1.750% 08/15/2041 3.2%
United States Treasury Note/Bond 1.875% 11/15/2051 2.3%
United States Treasury Note/Bond 1.375% 11/15/2031 1.9%
AT&T Inc 3.500% 09/15/2053 1.4%
Seminole Tribe of Florida Inc 1.854% 07/08/2024 1.2%
Oracle Corp 6.125% 07/08/2039 1.0%
Continental Resources Inc/OK 5.750% 01/15/2031 0.9%
JBS USA LUX SA 2.101% 05/01/2026 0.9%
Pacific Gas and Electric Co 4.550% 07/01/2030 0.9%
% of Total Assets 16.9%
Holding Coupon Maturity Assets
United States Treasury Note/Bond1.125% 10/31/20263.3%
United States Treasury Note/Bond1.750% 08/15/20412.6%
United States Treasury Note/Bond1.250% 08/15/20312.5%
United States Treasury Note/Bond2.000% 08/15/20512.0%
Seminole Tribe of Florida Inc1.840% 07/08/20241.3%
AT&T Inc3.500% 09/15/20531.1%
Oracle Corp6.125% 07/08/20391.0%
Pacific Gas and Electric Co4.550% 07/01/20301.0%
JBS USA LUX SA2.092% 05/01/20260.9%
Murphy USA Inc2.250% 01/31/20280.9%
General Motors Co6.750% 04/01/20460.8%
Hilton Worldwide Finance LLC1.842% 06/22/20260.7%
Time Warner Cable LLC7.300% 07/01/20380.7%
NGPL PipeCo LLC4.875% 08/15/20270.7%
Dell International LLC / EMC Corp8.350% 07/15/20460.7%
Lamar Media Corp1.589% 02/05/20270.6%
Setanta Aircraft Leasing DAC2.140% 11/05/20280.6%
Exelon Generation Co LLC6.250% 10/01/20390.6%
Bank of America Corp2.687% 04/22/20320.6%
Citigroup Inc2.561% 05/01/20320.6%
Aircastle Ltd2.850% 01/26/20280.6%
Trans Union LLC1.840% 11/16/20260.6%
Puget Energy Inc4.100% 06/15/20300.5%
Avolon TLB Borrower 1 US LLC0.000% 12/01/20270.5%
Hess Corp5.600% 02/15/20410.5%
Netflix Inc5.375% 11/15/20290.5%
NRG Energy Inc4.450% 06/15/20290.5%
United Rentals North America Inc3.875% 11/15/20270.5%
XPO Logistics Inc1.831% 02/24/20250.5%
United States Treasury Note/Bond2.250% 08/15/20490.5%
UBS AG5.125% 05/15/20240.5%
Charter Communications Operating LLC / Charter Communications Operating Capital6.484% 10/23/20450.5%
nVent Finance Sarl4.550% 04/15/20280.5%
Bayer Corp6.650% 02/15/20280.5%
Eni SpA5.700% 10/01/20400.5%
Cigna Corp6.125% 11/15/20410.5%
Fluor Corp4.250% 09/15/20280.5%
Nielsen Finance LLC2.089% 10/04/20230.5%
AT&T Inc2.875% 05/01/21700.5%
Churchill Downs Inc2.100% 03/17/20280.4%
Goodman US Finance Three LLC3.700% 03/15/20280.4%
American Campus Communities Operating Partnership LP3.875% 01/30/20310.4%
Vistra Operations Co LLC3.550% 07/15/20240.4%
Freeport-McMoRan Inc5.250% 09/01/20290.4%
Centene Corp4.625% 12/15/20290.4%
Oglethorpe Power Corp5.950% 11/01/20390.4%
CVS Health Corp5.050% 03/25/20480.4%
Danske Bank A/S5.375% 01/12/20240.4%
Bank of Ireland Group PLC4.125% 09/19/20270.4%
CIFC Funding 2021-I Ltd1.674% 04/25/20330.4%
United States Treasury Note/Bond1.125% 05/15/20400.4%
Southwestern Energy Co5.375% 03/15/20300.4%
Avis Budget Rental Car Funding AESOP LLC3.710% 08/20/20270.4%
Charles Schwab Corp/The5.375% 09/01/21700.4%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.4%
Suzano Austria GmbH3.750% 01/15/20310.4%
Fairstone Financial Issuance Trust I5.162% 10/20/20390.4%
Universal Health Services Inc2.650% 10/15/20300.4%
El Paso Electric Co6.000% 05/15/20350.4%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.4%
NUTRITION BIOSCIENCES INC0.014% 01/17/20250.4%
Braskem Netherlands Finance BV4.500% 01/31/20300.4%
VMware Inc4.700% 05/15/20300.4%
Oleoducto Central SA4.000% 07/14/20270.4%
CNO Financial Group Inc5.250% 05/30/20250.4%
Glencore Funding LLC2.850% 04/27/20310.4%
BlueMountain CLO XXVIII Ltd1.624% 04/15/20340.4%
EPR Properties4.950% 04/15/20280.4%
National Australia Bank Ltd3.933% 08/02/20340.4%
Patterson-UTI Energy Inc3.950% 02/01/20280.4%
Continental Resources Inc/OK4.900% 06/01/20440.4%
Goldman Sachs Group Inc/The6.750% 10/01/20370.4%
BankUnited Inc5.125% 06/11/20300.4%
IPALCO Enterprises Inc4.250% 05/01/20300.4%
Coinbase Global Inc3.375% 10/01/20280.4%
Anglo American Capital PLC5.625% 04/01/20300.4%
Ally Financial Inc8.000% 11/01/20310.4%
NVR Inc3.000% 05/15/20300.4%
Santander Holdings USA Inc4.400% 07/13/20270.4%
Boeing Co/The5.150% 05/01/20300.3%
Assurant Inc3.700% 02/22/20300.3%
Viterra Finance BV3.200% 04/21/20310.3%
DaVita Inc0.016% 08/12/20240.3%
CNO Financial Group Inc5.250% 05/30/20290.3%
Williams Cos Inc/The8.750% 03/15/20320.3%
MSCI Inc3.250% 08/15/20330.3%
Alcoa Nederland Holding BV4.125% 03/31/20290.3%
One Bryant Park Trust 2019-OBP2.516% 09/15/20540.3%
Lundin Energy Finance BV3.100% 07/15/20310.3%
MPT Operating Partnership LP / MPT Finance Corp4.625% 08/01/20290.3%
Occidental Petroleum Corp6.200% 03/15/20400.3%
Diamondback Energy Inc3.500% 12/01/20290.3%
Suncor Energy Inc7.875% 06/15/20260.3%
Duquesne Light Holdings Inc2.775% 01/07/20320.3%
BPCE SA3.116% 10/19/20320.3%
Madison Park Funding XVII Ltd1.630% 07/21/20300.3%
Elmwood CLO VIII Ltd1.682% 01/20/20340.3%
HCA Inc1.840% 06/30/20280.3%
Westpac Banking Corp4.110% 07/24/20340.3%
OWENS ILLINOIS INC1.592% 06/25/20240.3%
Broadcom Inc4.150% 11/15/20300.3%
Teachers Insurance & Annuity Association of America4.900% 09/15/20440.3%
Macquarie Bank Ltd3.052% 03/03/20360.3%
Bank of America Corp2.482% 09/21/20360.3%
Huntington Ingalls Industries Inc3.844% 05/01/20250.3%
Freddie Mac Structured Agency Credit Risk Debt Notes0.900% 11/25/20410.3%
Leidos Inc7.125% 07/01/20320.3%
UBS AG/Stamford CT7.625% 08/17/20220.3%
Metropolitan Transportation Authority6.668% 11/15/20390.3%
Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.3%
Niagara Park Clo Ltd1.722% 07/17/20320.3%
Callon Petroleum Co8.000% 08/01/20280.3%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.3%
Occidental Petroleum Corp6.625% 09/01/20300.3%
Bain Capital Credit CLO 2017-1 Ltd1.102% 07/20/20300.3%
Canadian Natural Resources Ltd7.200% 01/15/20320.3%
Romark CLO Ltd1.774% 10/23/20300.3%
Helmerich & Payne Inc2.900% 09/29/20310.3%
Park Aerospace Holdings Ltd5.500% 02/15/20240.3%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.3%
Morgan Stanley2.484% 09/16/20360.3%
Suncor Energy Ventures Corp4.500% 04/01/20220.3%
DaVita Inc1.840% 08/12/20260.3%
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%
Voya CLO 2019-3 Ltd3.323% 10/17/20320.3%
Toll Brothers Finance Corp4.875% 03/15/20270.3%
CBAM 2017-1 Ltd3.882% 07/20/20300.3%
Bayer US Finance II LLC4.375% 12/15/20280.3%
Lumen Technologies Inc2.090% 01/31/20250.3%
Cellnex Finance Co SA3.875% 07/07/20410.3%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd1.490% 05/15/20360.3%
Texas Capital Bancshares Inc4.000% 05/06/20310.3%
Flowserve Corp2.800% 01/15/20320.3%
American Airlines 2021-1 Class A Pass Through Trust2.875% 01/11/20360.3%
Boeing Co/The5.805% 05/01/20500.3%
Protective Life Corp8.450% 10/15/20390.3%
Invitation Homes Operating Partnership LP2.000% 08/15/20310.3%
Emera US Finance LP4.750% 06/15/20460.3%
Discover Bank4.682% 08/09/20280.3%
State of Illinois5.100% 06/01/20330.3%
Ready Capital Mortgage Financing 2021-FL5 LLC3.092% 04/25/20380.3%
Cenovus Energy Inc5.375% 07/15/20250.3%
MEG Energy Corp5.875% 02/01/20290.3%
Great Wolf Trust 2019-WOLF1.124% 12/15/20360.3%
BNP Paribas SA4.375% 03/01/20330.2%
Charter Communications Operating LLC1.850% 04/30/20250.2%
PulteGroup Inc6.375% 05/15/20330.2%
Kayne CLO 7 Ltd1.322% 04/17/20330.2%
Western Alliance Bancorp3.000% 06/15/20310.2%
BFLD 2019-DPLO2.330% 10/15/20340.2%
Westpac Banking Corp2.668% 11/15/20350.2%
Exeter Automobile Receivables Trust 2020-33.440% 08/17/20260.2%
OCP Clo 2019-17 Ltd1.732% 07/20/20320.2%
CyrusOne LP / CyrusOne Finance Corp3.450% 11/15/20290.2%
FirstEnergy Transmission LLC4.550% 04/01/20490.2%
Lendmark Funding Trust 2019-15.340% 12/20/20270.2%
LogMeIn Inc4.839% 08/31/20270.2%
Carvana Auto Receivables Trust 2019-44.700% 10/15/20260.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust3.500% 01/15/20250.2%
Glencore Finance Canada Ltd5.550% 10/25/20420.2%
One New York Plaza Trust 2020-1NYP1.590% 01/15/20260.2%
Independence Energy Finance LLC7.250% 05/01/20260.2%
Central American Bottling Corp5.750% 01/31/20270.2%
Halliburton Co7.450% 09/15/20390.2%
Exeter Automobile Receivables Trust 2020-35.560% 06/15/20270.2%
Aon Corp8.205% 01/01/20270.2%
Avant Loans Funding Trust 2021-REV14.300% 07/15/20300.2%
Ford Motor Co3.250% 02/12/20320.2%
Time Warner Entertainment Co LP8.375% 07/15/20330.2%
Selective Insurance Group Inc5.375% 03/01/20490.2%
Centrica PLC5.375% 10/16/20430.2%
CIFC Funding 2021-IV Ltd1.174% 07/15/20330.2%
Cleco Power LLC6.000% 12/01/20400.2%
NatWest Group PLC3.032% 11/28/20350.2%
CyrusOne LP / CyrusOne Finance Corp2.150% 11/01/20300.2%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.2%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.2%
PVH Corp7.750% 11/15/20230.2%
Stanley Black & Decker Inc4.000% 03/15/20600.2%
Invitation Homes Operating Partnership LP1.090% 01/31/20250.2%
Kayne CLO II Ltd1.624% 10/15/20310.2%
Physicians Realty LP2.625% 11/01/20310.2%
AMMC CLO 24 Ltd1.923% 01/20/20350.2%
Laredo Petroleum Inc10.125% 01/15/20280.2%
Skyworks Solutions Inc3.000% 06/01/20310.2%
Delos Finance Sarl1.882% 10/06/20230.2%
American Homes 4 Rent LP4.250% 02/15/20280.2%
Comcast Hulu Holdings LLC0.965% 03/15/20240.2%
Wyndham Hotels & Resorts Inc1.840% 05/30/20250.2%
CNH Industrial Capital LLC4.375% 04/05/20220.2%
Citigroup Commercial Mortgage Trust 2016-P35.052% 04/15/20490.2%
Scientific Games International Inc2.840% 08/14/20240.2%
EPR Properties3.750% 08/15/20290.2%
Morgan Stanley2.239% 07/21/20320.2%
FirstEnergy Corp4.400% 07/15/20270.2%
BX Commercial Mortgage Trust 2019-XL1.540% 10/15/20360.2%
AES Corp/The2.450% 01/15/20310.2%
NOV Inc3.600% 12/01/20290.2%
Lendmark Funding Trust 2021-24.460% 04/20/20320.2%
Banijay Group US Holding Inc3.838% 03/01/20250.2%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.2%
Mariner Finance Issuance Trust 2021-A5.400% 03/20/20360.2%
Global Atlantic Fin Co4.700% 10/15/20510.2%
BX Commercial Mortgage Trust 2019-XL2.090% 10/15/20360.2%
Eastern Gas Transmission & Storage Inc4.600% 12/15/20440.2%
Global Payments Inc1.467% 07/09/20240.2%
CoStar Group Inc2.800% 07/15/20300.2%
Buckeye Partners LP6.375% 01/22/20780.2%
Morgan Stanley5.875% 03/15/21700.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust3.875% 01/23/20280.2%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.2%
Berry Petroleum Co LLC7.000% 02/15/20260.2%
Steel Dynamics Inc5.000% 12/15/20260.2%
GS Mortgage Securities Corp Trust 2021-ROSS4.740% 05/15/20260.2%
Ovintiv Inc6.625% 08/15/20370.2%
Boeing Co/The5.705% 05/01/20400.2%
Diamondback Energy Inc3.125% 03/24/20310.2%
Expedia Group Inc2.950% 03/15/20310.2%
Goldman Sachs Group Inc/The2.383% 07/21/20320.2%
BX Commercial Mortgage Trust 2019-XL1.890% 10/15/20360.2%
Marble Point CLO XVII Ltd3.882% 04/20/20330.2%
Morgan Stanley5.000% 11/24/20250.2%
Oaktree CLO 2019-4 Ltd2.395% 10/20/20320.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
Octagon Loan Funding Ltd1.340% 11/18/20310.2%
Hertz Vehicle Financing LLC3.980% 12/26/20250.2%
Weatherford International Ltd8.625% 04/30/20300.2%
Marble Point CLO XVII Ltd1.432% 04/20/20330.2%
Continental Resources Inc/OK2.875% 04/01/20320.2%
Bank Hapoalim BM3.255% 01/21/20320.2%
Canacol Energy Ltd5.750% 11/24/20280.2%
Freddie Mac Structured Agency Credit Risk Debt Notes1.850% 11/25/20410.2%
Peabody Energy Corp6.375% 03/31/20250.1%
PFP 2019-6 Ltd2.190% 04/14/20370.1%
Wind River 2021-4 CLO Ltd1.823% 01/20/20350.1%
American Airlines 2014-1 Class B Pass Through Trust4.375% 04/01/20240.1%
Mountain View CLO 2017-1 LLC1.212% 10/16/20290.1%
AMMC CLO 23 Ltd3.191% 10/17/20310.1%
Barings CLO Ltd 2019-III1.732% 04/20/20310.1%
Toll Brothers Finance Corp3.800% 11/01/20290.1%
BBVA Bancomer SA/Texas5.125% 01/18/20330.1%
Benchmark 2020-B22 Mortgage Trust2.000% 01/15/20540.1%
CS Master Trust4.449% 04/15/20250.1%
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 2021-13.910% 09/15/20270.1%
Topaz Solar Farms LLC5.750% 09/30/20390.1%
Midcap Financial Issuer Trust6.500% 05/01/20280.1%
Aviation Capital Group LLC3.500% 11/01/20270.1%
BNP Paribas SA4.500% 08/25/21700.1%
Continental Finance Credit Card ABS Master Trust3.660% 12/15/20280.1%
American Homes 4 Rent LP4.900% 02/15/20290.1%
Voya CLO 2018-4 Ltd1.164% 01/15/20320.1%
BX Commercial Mortgage Trust 2019-IMC2.240% 04/15/20340.1%
BBCMS 2019-BWAY Mortgage Trust1.700% 11/15/20340.1%
CARLYLE US CLO 2019-1 LTD3.482% 04/20/20310.1%
Alfa Desarrollo SpA4.550% 09/27/20510.1%
Avolon Holdings Funding Ltd5.125% 10/01/20230.1%
Fannie Mae Connecticut Avenue Securities2.050% 11/25/20410.1%
Angel Oak Mortgage Trust 2021-71.978% 10/25/20660.1%
Wind River 2015-2 CLO Ltd2.724% 10/15/20270.1%
Lending Funding Trust 2020-26.770% 04/21/20310.1%
Macquarie Group Ltd2.691% 06/23/20320.1%
ZAXBY'S FUNDING LLC3.238% 07/30/20510.1%
Oracle Corp2.875% 03/25/20310.1%
American Homes 4 Rent LP2.375% 07/15/20310.1%
Carlyle Global Market Strategies CLO 2015-5 Ltd2.432% 01/20/20320.1%
Wells Fargo Commercial Mortgage Trust 2015-SG14.603% 09/15/20480.1%
Foursight Capital Automobile Receivables Trust 2018-14.190% 11/15/20230.1%
Westpac Banking Corp4.322% 11/23/20310.1%
National Australia Bank Ltd2.990% 05/21/20310.1%
Duquesne Light Holdings Inc6.250% 08/15/20350.1%
Ally Financial Inc4.700% 08/15/21700.1%
FORD MOTOR COMPANY1.850% 12/31/20220.1%
Santander Consumer Auto Receivables Trust 2021-A5.790% 08/15/20280.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Freeport-McMoRan Inc4.250% 03/01/20300.1%
Gulfport Energy Operating Corp8.000% 05/17/20260.1%
COMM 2015-PC1 Mortgage Trust4.463% 07/10/20500.1%
New Jersey Transportation Trust Fund Authority4.131% 06/15/20420.1%
Seaspan Corp5.500% 08/01/20290.1%
Bombardier Inc6.000% 02/15/20280.1%
Invitation Homes Operating Partnership LP2.300% 11/15/20280.1%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.1%
Mariner Finance Issuance Trust 2021-B4.680% 11/20/20360.1%
Unifrax Escrow Issuer Corp7.500% 09/30/20290.1%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.1%
American Airlines Group Inc3.750% 03/01/20250.1%
Matador Resources Co5.875% 09/15/20260.1%
LBM Acquisition LLC6.250% 01/15/20290.1%
Ovintiv Inc6.500% 02/01/20380.1%
HPLY Trust 2019-HIT1.090% 11/15/20360.1%
Assurant Inc2.650% 01/15/20320.1%
PDC Energy Inc5.750% 05/15/20260.1%
Viper Energy Partners LP5.375% 11/01/20270.1%
Stonegate Pub Co Financing 2019 PLC8.000% 07/13/20250.1%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.1%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.1%
Party City Holdings Inc8.750% 02/15/20260.1%
Uber Technologies Inc6.250% 01/15/20280.1%
CEC Entertainment LLC6.750% 05/01/20260.1%
Nationstar Mortgage Holdings Inc5.500% 08/15/20280.1%
Perimeter Master Note Business Trust4.230% 05/15/20240.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.875% 01/16/20240.1%
NCL Corp Ltd3.625% 12/15/20240.1%
Invesco CLO 2021-3 Ltd1.823% 10/22/20340.1%
OneMain Finance Corp4.000% 09/15/20300.1%
Pike Corp5.500% 09/01/20280.1%
Nabors Industries Ltd7.250% 01/15/20260.1%
Bath & Body Works Inc6.875% 11/01/20350.1%
CA Magnum Holdings5.375% 10/31/20260.1%
Royal Caribbean Cruises Ltd3.700% 03/15/20280.1%
J.P. Morgan Chase Commercial Mortgage Securities Trust 2017-MARK3.392% 06/05/20320.1%
Laredo Petroleum Inc7.750% 07/31/20290.1%
Cheniere Corpus Christi Holdings LLC3.700% 11/15/20290.1%
American Campus Communities Operating Partnership LP2.250% 01/15/20290.1%
US Renal Care Inc10.625% 07/15/20270.1%
SM Energy Co6.625% 01/15/20270.1%
HESS CORPORATION2.100% 03/16/20230.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust3.300% 01/30/20320.1%
VistaJet Malta Finance PLC / XO Management Holding Inc10.500% 06/01/20240.1%
Shea Homes LP / Shea Homes Funding Corp4.750% 02/15/20280.1%
CS Master Trust4.527% 04/15/20230.1%
Fresenius Medical Care US Finance II Inc4.750% 10/15/20240.1%
SM Energy Co6.750% 09/15/20260.1%
Leidos Inc4.375% 05/15/20300.1%
US ULTRA BOND CBT Mar220.000% 03/31/20220.1%
California Resources Corp7.125% 02/01/20260.1%
Twilio Inc3.875% 03/15/20310.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Planet Fitness Master Issuer LLC3.858% 12/05/20490.1%
Switch Ltd3.750% 09/15/20280.1%
Ahead DB Holdings LLC6.625% 05/01/20280.1%
Sri Lanka Government International Bond5.875% 07/25/20220.1%
Brightsphere Investment Group Inc4.800% 07/27/20260.1%
Metropolitan Edison Co4.000% 04/15/20250.1%
Kennedy-Wilson Inc4.750% 03/01/20290.1%
Oasis Petroleum Inc0.000% -0.1%
Macquarie Bank Ltd4.875% 06/10/20250.1%
Intesa Sanpaolo SpA4.198% 06/01/20320.1%
MEG Energy Corp7.125% 02/01/20270.1%
Twilio Inc3.625% 03/15/20290.1%
JFIN CLO 2013 Ltd1.522% 01/20/20300.1%
Signal Peak CLO 2 LLC2.982% 04/20/20290.1%
Benefit Street Partners Clo XII Ltd3.174% 10/15/20300.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
Great Wolf Trust 2019-WOLF2.822% 12/15/20360.1%
Leidos Holdings Inc5.950% 12/01/20400.1%
JPMBB Commercial Mortgage Securities Trust 2015-C304.406% 07/15/20480.1%
Cenovus Energy Inc3.750% 02/15/20520.1%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.1%
VMC Finance 2019-FL3 LLC1.190% 09/15/20360.1%
Carvana Co5.875% 10/01/20280.1%
Kosmos Energy Ltd7.750% 05/01/20270.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 06/15/20250.1%
Morgan Stanley4.431% 01/23/20300.1%
Carvana Co5.625% 10/01/20250.1%
Diamondback Energy Inc4.750% 05/31/20250.0%
FX USD/EUR 12/210.000% 12/10/20210.0%
Wells Fargo Commercial Mortgage Trust 2013-LC124.441% 07/15/20460.0%
GS Mortgage Securities Trust 2015-GC324.574% 07/10/20480.0%
RESORTS WORLD LAS VEGAS LLC1.600% 04/16/20240.0%
Galaxy XXI CLO Ltd1.152% 04/20/20310.0%
Danske Bank A/S4.375% 06/12/20280.0%
Elevation CLO 2014-2 Ltd3.324% 10/15/20290.0%
TRANS UNION LLC0.000% 11/16/20290.0%
Deephaven Residential Mortgage Trust 2020-12.339% 01/25/20600.0%
New Jersey Transportation Trust Fund Authority4.081% 06/15/20390.0%
US 5YR NOTE (CBT) Mar220.000% 04/05/20220.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
State of Illinois4.950% 06/01/20230.0%
Verus Securitization Trust 2020-12.417% 01/25/20600.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.0%
Residential Mortgage Loan Trust 2020-12.376% 02/25/20240.0%
US 2YR NOTE (CBT) Mar220.000% 04/05/20220.0%
FX USD/CAD 01/220.000% 01/20/20220.0%
US LONG BOND(CBT) Mar220.000% 03/31/20220.0%
GS Mortgage Securities Trust 2013-GCJ120.655% 06/10/20460.0%
Hudsons Bay Simon JV Trust 2015-HBS0.723% 08/05/20340.0%
GS Mortgage Securities Trust 2013-GCJ121.531% 06/10/20460.0%
Merrill Lynch Mortgage Investors Trust Series 2006-AF26.250% 10/25/20360.0%
GS Mortgage Securities Trust 2015-GS10.328% 11/10/20480.0%
Government National Mortgage Association0.495% 07/16/20540.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX USD/GBP 12/210.000% 12/07/20210.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Hudsons Bay Simon JV Trust 2015-HBS0.665% 08/05/20340.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
EagleView Technology Corp3.632% 08/14/20250.0%
Dommo Energia SA0.000% -0.0%
Freddie Mac REMICS0.000% 08/15/20220.0%
UTEX INDUSTRIES INC5.250% 12/03/20250.0%
Dommo Energia SA0.000% -0.0%
EURO-BOBL FUTURE Mar220.000% 03/10/20220.0%
Freddie Mac REMICS1007.000% 02/15/20220.0%
Freddie Mac REMICS982.654% 04/15/20220.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
OGX Austria GmbH8.500% 06/01/20180.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%

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 01/14/2022
$0
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 12/31/2021 $0.00745 $2.94
Daily Daily 11/30/2021 $0.00751 $2.99
Daily Daily 10/31/2021 $0.00770 $3.00
Daily Daily 09/30/2021 $0.00777 $3.00
Daily Daily 08/31/2021 $0.00798 $3.03
Daily Daily 07/31/2021 $0.00826 $3.04
Daily Daily 06/30/2021 $0.00800 $3.01
Daily Daily 05/31/2021 $0.00816 $2.97
Daily Daily 04/30/2021 $0.00816 $2.96
Daily Daily 03/31/2021 $0.00813 $2.93
Daily Daily 02/28/2021 $0.00809 $2.98
Daily Daily 01/31/2021 $0.00838 $3.02

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 01/31/2022
Daily Daily 02/28/2022
Daily Daily 03/31/2022
Daily Daily 04/30/2022
Daily Daily 05/31/2022
Daily Daily 06/30/2022
Daily Daily 07/31/2022
Daily Daily 08/31/2022
Daily Daily 09/30/2022
Daily Daily 10/31/2022
Daily Daily 11/30/2022
Daily Daily 12/31/2022

Capital Gains Distributions

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

Taxed as ordinary income

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

Upcoming Capital Gain Distribution

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

Fees & Expenses

Fees & Expenses

Expense Ratioas of 12/31/2021

0.56%

Fund Documents

Fund Documents

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*Barron’s Overall Fund Family of 2020,” #7 overall ranking among 53 qualifying fund families based on the net total return of the one-year period ending 12/31/2020. Five-year overall ranking is #4 out of 50 qualifying fund families; and 10-year overall ranking is #21 out of 44 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2020,” February 20, 2021. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2020, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.

© Refinitiv Lipper 2021. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

+

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

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.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

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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