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Income Fund

Daily price w/o sales charge as of 11/12/2019

$2.88

$0.00

YTD Returns w/o sales charge as of 11/12/2019

11.40%

Overall Morningstar Ratings

Corporate Bond
as of 10/31/2019

Morningstar rated the Lord Abbett Income Fund class I share 4, 3 and 5 stars among 169, 130 and 81 Corporate Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 10/31/2019, 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 11/12/2019  

w/o sales charge 3.90%

30-Day Standardized Yield 2 as of 10/31/2019  

3.06%

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

Fund Basicsas of 09/30/2019

Total Net Assets
$2.60 B
Inception Date
10/19/2004
Dividend Frequency
Monthly
Fund Expense Ratio
0.57%
Number of Holdings
671
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 These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").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 :

0.57%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 12.42% 12.44% 4.97% 4.28% 6.19% 6.03%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 12.72% 13.85% 4.40% 4.03% 5.24% -
Bloomberg Barclays U.S. Credit Bond Index 13.25% 14.88% 4.83% 4.43% 5.32% 5.10%

Fund Expense Ratio :

0.57%

Fund Expense Ratio :

0.57%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 11.67% 10.47% 4.72% 4.29% 6.22% 6.01%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 12.17% 11.66% 3.97% 4.13% 5.28% -
Bloomberg Barclays U.S. Credit Bond Index 12.61% 12.63% 4.33% 4.54% 5.32% 5.09%

Fund Expense Ratio :

0.57%

Returns with sales charges reflect a maximum sales charge of 2.25%.

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
ABS
U.S. Government Related
Bank Loans
CMBS
Sovereign
MBS
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 09/30/2019 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

21 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Supported By 64 Investment Professionals with 15 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Dividend Yield 1 as of 11/12/2019  

w/o sales charge 3.90%

30-Day Standardized Yield 2 as of 10/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.06% 3.06%

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

Fund Expense Ratio :

0.57%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 12.42% 12.44% 4.97% 4.28% 6.19% 6.03%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 12.72% 13.85% 4.40% 4.03% 5.24% -
Bloomberg Barclays U.S. Credit Bond Index 13.25% 14.88% 4.83% 4.43% 5.32% 5.10%

Fund Expense Ratio :

0.57%

Fund Expense Ratio :

0.57%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 11.67% 10.47% 4.72% 4.29% 6.22% 6.01%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 12.17% 11.66% 3.97% 4.13% 5.28% -
Bloomberg Barclays U.S. Credit Bond Index 12.61% 12.63% 4.33% 4.54% 5.32% 5.09%

Fund Expense Ratio :

0.57%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns Bloomberg Barclays U.S. Credit Bond Index
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% 8.35%
2010 11.47% 8.47%
2009 30.77% 16.04%
2008 -10.22% -
2007 6.96% -
2006 3.56% -
2005 2.61% -
2004 0.41% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 5.25% 3.59% 2.42% - 11.40%
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
ABS
U.S. Government Related
Bank Loans
CMBS
Sovereign
MBS
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 09/30/2019

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 09/30/2019

  • Following the sell-off in August, we increased the portfolio’s allocation to investment grade corporate bonds, particularly within the technology and consumer staples sectors, as valuations became more attractive. We reduced the portfolio’s underweight in the consumer, non-cyclicals sector. However, we remain underweight in the pharmaceutical industry due to drug pricing headwinds, regulatory pressures, valuations, and event risk. Overall, we believe the non-cyclical orientation of the consumer staples sector will hold up in a recessionary environment.
  • Relative to the benchmark, the portfolio is overweight the utilities sector. We remain attracted to this defensive sector, as we believe securities within this sector offer attractive yield opportunities while mitigating downside risk due to their non-cyclical nature and their subjection to heavy regulations, which limit leverage.
  • Although we hold an underweight position relative to the benchmark, the financials sector continues to be our largest position. The banking industry has been an ongoing theme in recent months, due to improved credit quality relative to pre-crisis periods, robust underlying mortgage assets, more conservative management teams, and stricter regulations.
  • While we are constructive on the commercial mortgage-backed securities (“CMBS”) sector, particularly to single-asset, single-borrower issues, we reduced the portfolio’s modest allocation in order to take advantage of relative-value opportunities within investment grade corporate bonds.

Portfolio Details as of 09/30/2019

Total Net Assets
$2.60 B
Number of Issues
671
Average Coupon
4.84%
Average Life
8.49 Years
Average Maturity
8.49 Years
Average Effective Duration
6.09 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
U.S. Treasury Note/Bond 1.500% 09/30/2024 4.6%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl 4.700% 02/01/2036 1.4%
AT&T, Inc. 6.000% 08/15/2040 1.1%
CVS Caremark Corp. 4.300% 03/25/2028 1.0%
Verizon Communications, Inc. 3.618% 05/15/2025 1.0%
General Motors Co. 6.750% 04/01/2046 0.8%
U.S. Treasury Note/Bond 3.125% 11/15/2028 0.8%
Tencent Holdings Ltd. 3.595% 01/19/2028 0.8%
Broadcom Corp. / Broadcom Cayman Finance Ltd. 3.875% 01/15/2027 0.7%
Ford Motor Co. 7.450% 07/16/2031 0.6%
% of Total Assets 12.8%
Holding Coupon Maturity Assets
U.S. Treasury Note/Bond1.500% 09/30/20244.6%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20361.4%
AT&T, Inc.6.000% 08/15/20401.1%
J.P.Morgan Securities LLC0.010% -1.1%
CVS Caremark Corp.4.300% 03/25/20281.0%
Verizon Communications, Inc.3.618% 05/15/20251.0%
General Motors Co.6.750% 04/01/20460.8%
U.S. Treasury Note/Bond3.125% 11/15/20280.8%
Tencent Holdings Ltd.3.595% 01/19/20280.8%
J.P.Morgan Securities LLC0.010% -0.7%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.875% 01/15/20270.7%
Ford Motor Co.7.450% 07/16/20310.6%
Time Warner Cable LLC7.300% 07/01/20380.6%
NBCUniversal Enterprise, Inc.5.250% 06/19/20990.6%
BAT Capital Corp4.390% 08/15/20370.6%
Goldman Sachs Group, Inc.6.750% 10/01/20370.6%
UBS AG Registered Shares5.125% 05/15/20240.6%
HCA, Inc.5.125% 06/15/20390.6%
ENI SpA5.700% 10/01/20400.6%
Universal Health Services, Inc.4.750% 08/01/20220.5%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.5%
Kinder Morgan, Inc.7.750% 01/15/20320.5%
Helmerich & Payne, Inc.4.650% 03/15/20250.5%
Citigroup, Inc.3.887% 01/10/20280.5%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.5%
Danske Bank A/S5.375% 01/12/20240.5%
DPL, Inc.4.350% 04/15/20290.5%
CVS Caremark Corp.4.780% 03/25/20380.5%
Valero Energy Corp.10.500% 03/15/20390.5%
GE Capital International Funding Co.4.418% 11/15/20350.5%
PSEG Power LLC8.625% 04/15/20310.5%
Bank of Ireland Group PLC4.125% 09/19/20270.5%
Dell International LLC / EMC Corp.8.350% 07/15/20460.5%
EPR Properties4.950% 04/15/20280.5%
Bacardi Ltd.4.700% 05/15/20280.5%
Patterson-UTI Energy, Inc.3.950% 02/01/20280.4%
U.S. Treasury Note/Bond1.625% 08/15/20290.4%
Sabine Pass Liquefaction LLC5.625% 04/15/20230.4%
Apache Corp.5.100% 09/01/20400.4%
Bermuda Government International Bond3.717% 01/25/20270.4%
Nvent Finance Sarl4.550% 04/15/20280.4%
General Electric Co.5.000% 12/31/20990.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
EnCana Corp.0.000% 10/18/20190.4%
Bank of America Corp.4.450% 03/03/20260.4%
Las Vegas Sands Corp.3.900% 08/08/20290.4%
Wells Fargo Capital X5.950% 12/15/20360.4%
Noble Energy, Inc.0.000% 10/01/20190.4%
NXP BV / NXP Funding LLC4.625% 06/01/20230.4%
Canadian Natural Resources Ltd.7.200% 01/15/20320.4%
Aircastle Ltd.4.250% 06/15/20260.4%
NRG Energy, Inc.4.450% 06/15/20290.4%
South Jersey Gas Co0.000% 10/04/20190.4%
Aviation Capital Group Corp.0.000% 10/18/20190.4%
Wabtec Corp.4.700% 09/15/20280.4%
UBS AG7.625% 08/17/20220.4%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.4%
Bank of America Corp.3.824% 01/20/20280.4%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.4%
Macquarie Group Ltd.4.654% 03/27/20290.4%
Newmont Mining Corp.3.700% 03/15/20230.4%
CNH Capital LLC4.375% 04/05/20220.4%
Trimble Navigation Ltd.4.900% 06/15/20280.4%
Baidu, Inc.3.875% 09/29/20230.4%
Vodafone Group plc4.375% 05/30/20280.4%
TransAlta Corp.4.500% 11/15/20220.4%
U.S. Treasury Note/Bond2.875% 05/15/20490.3%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.3%
Park Aerospace Holdings Ltd5.500% 02/15/20240.3%
Occidental Petroleum Corp.7.875% 09/15/20310.3%
Starbucks Corp.3.550% 08/15/20290.3%
Continental Resources, Inc.5.000% 09/15/20220.3%
Myriad International Holdings BV6.000% 07/18/20200.3%
Energy Transfer Operating LP6.250% 04/15/20490.3%
NGPL Pipeco LLC4.875% 08/15/20270.3%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.3%
Protective Life Corp.8.450% 10/15/20390.3%
Navient Corp.6.750% 06/25/20250.3%
Discover Bank4.682% 08/09/20280.3%
Fresenius Medical Care US Finance II, Inc.5.875% 01/31/20220.3%
American Airlines Class B Pass Through Trust4.375% 10/01/20220.3%
CNO Financial Group, Inc.5.250% 05/30/20250.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
Morgan Stanley3.875% 01/27/20260.3%
Santander Drive Auto Receivables Trust 2015-24.020% 09/15/20220.3%
CRH America Finance, Inc.3.950% 04/04/20280.3%
North Texas Tollway Auth8.910% 02/01/20300.3%
Exelon Generation Co. LLC6.250% 10/01/20390.3%
Dollar Tree, Inc.4.200% 05/15/20280.3%
Santander UK plc7.950% 10/26/20290.3%
Motiva Enterprises LLC5.750% 01/15/20200.3%
CNAC HK Finbridge Co Ltd3.000% 07/19/20200.3%
Air Lease Corp.3.625% 04/01/20270.3%
AerCap Ireland Capital Ltd.3.500% 01/15/20250.3%
Carnival plc7.875% 06/01/20270.3%
Universal Health Services, Inc.5.000% 06/01/20260.3%
Freeport-McMoRan, Inc.5.450% 03/15/20430.3%
SOUND POINT CLO XVII3.878% 10/20/20300.3%
Aon plc8.205% 01/01/20270.3%
National Fuel Gas Co.3.750% 03/01/20230.3%
Williams Cos., Inc.8.750% 03/15/20320.3%
PVH Corp.7.750% 11/15/20230.3%
AT&T, Inc.6.200% 03/15/20400.3%
Imperial Tobacco Finance plc3.875% 07/26/20290.3%
Netflix, Inc.3.625% 05/15/20270.3%
FirstEnergy Transmission LLC4.550% 04/01/20490.3%
Anglo American Capital plc4.750% 04/10/20270.3%
Shackleton 2019-XIV Clo Ltd4.178% 07/20/20300.3%
Harris Corp.4.400% 06/15/20280.3%
Vistra Operations Co LLC4.300% 07/15/20290.3%
Global Atlantic Fin Co4.400% 10/15/20290.3%
PerkinElmer, Inc.3.300% 09/15/20290.3%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.3%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.3%
Wyndham Hotels & Resorts3.972% 03/28/20250.2%
Cleco Power LLC6.000% 12/01/20400.2%
International Paper Co.7.300% 11/15/20390.2%
IFM US Colonial Pipeline 2 LLC6.450% 05/01/20210.2%
Glencore Finance Canada Ltd.5.550% 10/25/20420.2%
Anheuser-Busch InBev Worldwide, Inc.4.750% 01/23/20290.2%
Fidelity National Financial Group4.500% 08/15/20280.2%
Midwest Connector Capital Co LLC3.900% 04/01/20240.2%
National Australia Bank Ltd.3.933% 08/02/20340.2%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.2%
Kinross Gold Corp.4.500% 07/15/20270.2%
The Royal Bank of Scotland Group PLC3.875% 09/12/20230.2%
Neuberger Berman Group LLC4.875% 04/15/20450.2%
American Homes 4 Rent LP4.250% 02/15/20280.2%
El Paso Electric Co.5.000% 12/01/20440.2%
Brixmor Operating Partnership L.P.3.850% 02/01/20250.2%
ALM VII Ltd4.153% 07/15/20290.2%
Halliburton Co.7.450% 09/15/20390.2%
People's United Financial, Inc.3.650% 12/06/20220.2%
AT&T, Inc.6.350% 03/15/20400.2%
Keurig Dr Pepper Inc.3.495% 02/08/20230.2%
Citigroup, Inc.3.668% 07/24/20280.2%
Broadcom Inc3.625% 10/15/20240.2%
Dominion Resources, Inc.7.000% 06/15/20380.2%
Smithfield Foods, Inc.5.200% 04/01/20290.2%
Bombardier, Inc.6.125% 01/15/20230.2%
Enel Finance International N.V.2.750% 04/06/20230.2%
Morgan Stanley3.780% 05/08/20240.2%
GATX Corp.4.550% 11/07/20280.2%
Cleco Corp.4.973% 05/01/20460.2%
Embraer Overseas Ltd.5.696% 09/16/20230.2%
California Republic Auto Receivables Trust2.530% 06/15/20210.2%
SCANA Corp.4.125% 02/01/20220.2%
Webster Financial Corp.4.100% 03/25/20290.2%
JB y Co SA de CV3.750% 05/13/20250.2%
Cimarex Energy Co.4.375% 03/15/20290.2%
Alibaba Group Holding Ltd.3.400% 12/06/20270.2%
Lloyds Bank plc6.500% 09/14/20200.2%
U.S. Treasury Note/Bond2.875% 11/15/20210.2%
Weyerhaeuser Co.8.500% 01/15/20250.2%
Continental Resources, Inc.4.900% 06/01/20440.2%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.2%
IHS Markit Ltd4.000% 03/01/20260.2%
National Oilwell Varco, Inc.3.950% 12/01/20420.2%
Leidos, Inc.7.125% 07/01/20320.2%
Ammc Clo 19 Ltd.3.803% 10/15/20280.2%
Venture XXIV CLO Ltd4.328% 10/20/20280.2%
American Airlines Class B Pass Through Trust5.625% 01/15/20210.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
American Airlines Class B Pass Through Trust5.600% 07/15/20200.2%
Government National Mortgage Association2.600% 06/16/20570.2%
ICG US CLO 2015-2 Ltd3.172% 01/16/20280.2%
AXIS Specialty Finance LLC3.900% 07/15/20290.2%
BlueMountain CLO 2016-1 Ltd3.628% 04/20/20270.2%
WestRock Co.0.000% 10/10/20190.2%
Telefonica Emisiones SAU5.520% 03/01/20490.2%
Hanover Insurance Group, Inc.4.500% 04/15/20260.2%
Global Payments, Inc.3.200% 08/15/20290.2%
General Electric Co.2.700% 10/09/20220.2%
Phosagro OAO via Phosagro Bond Funding Ltd3.949% 04/24/20230.2%
Puget Energy, Inc.3.650% 05/15/20250.2%
Panera Bread Company3.813% 07/18/20220.2%
Hardee's Funding LLC4.959% 06/20/20480.2%
Enbridge, Inc.6.000% 01/15/20770.2%
Baidu, Inc.3.625% 07/06/20270.2%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.2%
Macquarie Bank Ltd.6.625% 04/07/20210.2%
Origin Energy Finance Ltd.5.450% 10/14/20210.2%
Sabine Pass Liquefaction LLC5.750% 05/15/20240.2%
OHA Loan Funding 2016-1 Ltd4.078% 01/20/20280.2%
Hudson Pacific Properties LP4.650% 04/01/20290.2%
Radian Group, Inc.4.875% 03/15/20270.2%
Southern Copper Corp.5.250% 11/08/20420.2%
Expedia, Inc.5.000% 02/15/20260.2%
Neuberger Berman Group LLC4.500% 03/15/20270.2%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.2%
Discover Financial Services4.100% 02/09/20270.2%
Gazprom OAO Via Gaz Capital SA4.950% 02/06/20280.2%
Nationstar Mortgage Holdings, Inc.9.125% 07/15/20260.2%
Roper Industries, Inc.3.850% 12/15/20250.2%
AT&T, Inc.3.616% 06/12/20240.2%
Octagon Investment Partners 30 Ltd3.978% 03/17/20300.2%
Royal Caribbean Cruises Ltd.5.250% 11/15/20220.2%
Express Scripts Holding Co.6.125% 11/15/20410.2%
GS Mortgage Securities Corp Trust 2018-FBLU4.778% 11/15/20350.2%
Equinix, Inc.5.875% 01/15/20260.2%
Assurant, Inc.3.700% 02/22/20300.2%
Energy Transfer Operating LP8.250% 11/15/20290.2%
Northwell Healthcare, Inc.3.979% 11/01/20460.2%
Conn's Receivables Funding 2017-B LLC5.950% 11/15/20220.2%
Geo Group, Inc.6.000% 04/15/20260.2%
Flagship Credit Auto Trust 2019-14.080% 02/18/20250.2%
BBVA Bancomer SA5.125% 01/18/20330.2%
Brightsphere Investment Group Inc4.800% 07/27/20260.2%
Owens Corning4.300% 07/15/20470.2%
Zimmer Biomet Holdings, Inc.5.750% 11/30/20390.2%
Owens Corning7.000% 12/01/20360.2%
Kennametal, Inc.4.625% 06/15/20280.2%
Weibo Corp.3.500% 07/05/20240.2%
National Fuel Gas Co.4.900% 12/01/20210.2%
Embraer Netherlands Finance BV5.050% 06/15/20250.2%
Selective Insurance Group, Inc.5.375% 03/01/20490.2%
Santander UK Group Holdings plc3.823% 11/03/20280.2%
Calpine Corp.5.500% 02/01/20240.2%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.2%
Aegon NV760.000% 10/01/20190.1%
Mississippi Power Co.4.250% 03/15/20420.1%
Spectra Energy Partners L.P.3.179% 06/05/20200.1%
Vulcan Materials Co.3.170% 03/01/20210.1%
Avolon Holdings Funding Ltd5.125% 10/01/20230.1%
Pentair Finance SA2.650% 12/01/20190.1%
Oglethorpe Power Corp.5.050% 10/01/20480.1%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.1%
Equinix, Inc.5.375% 05/15/20270.1%
Solera Finance, Inc.10.500% 03/01/20240.1%
Bank of Montreal3.803% 12/15/20320.1%
Barrick International Barbados Corp.6.350% 10/15/20360.1%
Anglo American Capital plc4.500% 03/15/20280.1%
KKR CLO 18 Ltd4.000% 07/18/20300.1%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.1%
Verizon Communications, Inc.4.862% 08/21/20460.1%
Healthcare Trust of America Holdings LP3.100% 02/15/20300.1%
TIBCO Software, Inc.11.375% 12/01/20210.1%
CVS Caremark Corp.5.050% 03/25/20480.1%
Litton Industries, Inc.7.750% 03/15/20260.1%
Lincoln National Corp.7.000% 06/15/20400.1%
MPLX L.P.6.875% 12/31/20990.1%
Jamestown CLO IX Ltd4.928% 10/20/20280.1%
Capital Auto Receivables Asset Trust3.340% 03/22/20210.1%
Palmer Square Loan Funding 2018-1 Ltd2.903% 04/15/20260.1%
Centene Corp.5.625% 02/15/20210.1%
Pentair Finance SA4.500% 07/01/20290.1%
Foursight Capital Automobile Receivables Trust 2014.190% 11/15/20230.1%
Oasis Petroleum, Inc.6.875% 03/15/20220.1%
Bayer Corp6.650% 02/15/20280.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
Catholic Health Initiatives3.347% 10/01/20290.1%
Spirit Realty LP3.400% 01/15/20300.1%
Burlington Northern Santa Fe LLC6.150% 05/01/20370.1%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.1%
EnCana Corp.0.000% 10/07/20190.1%
Lincoln National Corp.6.300% 10/09/20370.1%
Laredo Petroleum Holdings, Inc.5.625% 01/15/20220.1%
Centene Corp.5.375% 06/01/20260.1%
Unum Group5.750% 08/15/20420.1%
AT&T, Inc.6.250% 03/29/20410.1%
McDonald's Corp.6.300% 03/01/20380.1%
Westpac Banking Corp.4.322% 11/23/20310.1%
Barclays Bank plc10.179% 06/12/20210.1%
Berry Petroleum Co.7.000% 02/15/20260.1%
Tenneco, Inc.5.000% 07/15/20260.1%
Harris Corp.4.400% 06/15/20280.1%
U.S. Treasury Note/Bond3.625% 08/15/20430.1%
Appalachian Power Co.7.000% 04/01/20380.1%
Waste Pro USA Inc5.500% 02/15/20260.1%
Silversea Cruise Finance Ltd.7.250% 02/01/20250.1%
Country Garden Holdings Co. Ltd.4.750% 09/28/20230.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
Energy Transfer Partners L.P.0.000% 10/11/20190.1%
Duqesne Light Holdings, Inc.6.250% 08/15/20350.1%
Westpac Banking Corp.4.110% 07/24/20340.1%
MPLX L.P.5.250% 01/15/20250.1%
Jabil, Inc.0.000% 10/08/20190.1%
PTL Finance Corp.3.450% 07/01/20240.1%
GCI LLC6.875% 04/15/20250.1%
Time Warner Cable LLC6.550% 05/01/20370.1%
IHS Markit Ltd4.250% 05/01/20290.1%
CNH Capital LLC4.875% 04/01/20210.1%
Century Communities, Inc.5.875% 07/15/20250.1%
New Gold, Inc.6.250% 11/15/20220.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
Expedia, Inc.3.800% 02/15/20280.1%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.1%
Level 3 Parent LLC5.750% 12/01/20220.1%
Imperial Tobacco Finance plc3.125% 07/26/20240.1%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
Indika Energy Capital III Pte Ltd5.875% 11/09/20240.1%
Nissan Motor Acceptance Corp.3.020% 09/28/20220.1%
E*TRADE Financial Corp.4.500% 06/20/20280.1%
EnCana Corp.0.000% 11/19/20190.1%
SCE Trust III0.000% -0.1%
FedEx Corp.4.950% 10/17/20480.1%
Smithfield Foods, Inc.0.000% 10/01/20190.1%
Florida Gas Transmission Co., LLC3.875% 07/15/20220.1%
AerCap Ireland Capital Ltd.4.875% 01/16/20240.1%
WeWork Cos Inc7.875% 05/01/20250.1%
BWAY Holding Co.7.250% 04/15/20250.1%
General Electric Co.3.150% 09/07/20220.1%
Emera, Inc.6.750% 06/15/20760.1%
Interstate Power & Light Co3.500% 09/30/20490.1%
Peabody Energy Corp.6.000% 03/31/20220.1%
National Fuel Gas Co.3.950% 09/15/20270.1%
SemGroup Corp.6.375% 03/15/20250.1%
Marvell Technology Group Ltd.4.200% 06/22/20230.1%
US Cellular Corp.6.700% 12/15/20330.1%
Marriott International, Inc.0.000% 10/01/20190.1%
PPL WEM Ltd./Western Power Distribution Ltd.5.375% 05/01/20210.1%
Sabal Trail Transmission LLC4.246% 05/01/20280.1%
Norfolk Southern Corp.5.590% 05/17/20250.1%
CenterPoint Energy, Inc.0.000% 10/01/20190.1%
Seven Generations Energy Ltd.6.875% 06/30/20230.1%
Energy Transfer Operating LP9.000% 11/01/20240.1%
North Texas Tollway Auth8.410% 02/01/20300.1%
Hunt Cos Inc6.250% 02/15/20260.1%
Scientific Games International, Inc.6.625% 05/15/20210.1%
Kilroy Realty L.P.4.375% 10/01/20250.1%
CPS Auto Trust4.610% 12/15/20220.1%
Williams Scotsman International Inc7.875% 12/15/20220.1%
SCANA Corp.4.750% 05/15/20210.1%
Thermo Fisher Scientific, Inc.0.000% 10/28/20190.1%
Wabash National Corp.5.500% 10/01/20250.1%
Itron, Inc.5.000% 01/15/20260.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
Cleveland Electric Illuminating Co.3.500% 04/01/20280.1%
Cedar Funding VI CLO Ltd3.878% 10/20/20280.1%
SURA Asset Management SA4.375% 04/11/20270.1%
ZF North America Capital, Inc.4.750% 04/29/20250.1%
Carrizo Oil & Gas, Inc.6.250% 04/15/20230.1%
Bombardier, Inc.7.500% 03/15/20250.1%
Reynolds Group Issuer, Inc.5.750% 10/15/20200.1%
Acwa Power Management And Investments One Ltd5.950% 12/15/20390.1%
General Electric Co.2.945% 05/05/20260.1%
MMC Norilsk Nickel OJSC via MMC Finance Ltd.4.100% 04/11/20230.1%
Titan International, Inc.6.500% 11/30/20230.1%
Mountain View CLO X Ltd3.653% 10/13/20270.1%
Gulfstream Natural Gas System LLC4.600% 09/15/20250.1%
Interstate Power & Light Co3.600% 04/01/20290.1%
Standard Chartered plc4.247% 01/20/20230.1%
Citigroup, Inc.4.600% 03/09/20260.1%
Cox Enterprises, Inc.0.000% 10/01/20190.1%
AMMC CLO XIV Ltd3.976% 07/25/20290.1%
Government National Mortgage Association2.700% 07/16/20570.1%
Newell Rubbermaid, Inc.3.850% 04/01/20230.1%
Thacher Park CLO Ltd.3.438% 10/20/20260.1%
Bahamas Government International Bond6.950% 11/20/20290.1%
KazMunayGas National Co.6.375% 10/24/20480.1%
Adani Transmission Ltd4.000% 08/03/20260.1%
AbbVie, Inc.4.875% 11/14/20480.1%
Freeport-McMoRan, Inc.5.250% 09/01/20290.1%
Griffon Corp.5.250% 03/01/20220.1%
Yum! Brands, Inc.6.875% 11/15/20370.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 12/15/20230.1%
Northrop Grumman Systems Corp.7.750% 02/15/20310.1%
Vulcan Materials Co.4.700% 03/01/20480.1%
Sound Point Clo XV Ltd4.759% 01/23/20290.1%
Energy Transfer Partners L.P.0.000% 10/02/20190.1%
Syngenta Wilmington, Inc.0.000% 10/21/20190.1%
SL Green Operating Partnership L.P.3.250% 10/15/20220.1%
MHP Lux SA6.950% 04/03/20260.1%
Popular, Inc.6.125% 09/14/20230.1%
Illinois, IL5.100% 06/01/20330.1%
PG&E Corp3.875% 04/27/20210.1%
EPR Properties4.500% 04/01/20250.1%
Palmer Square Loan Funding 2017-1 Ltd4.003% 10/15/20250.1%
Albertsons Cos Inc / Safeway Inc / New Albertsons6.625% 06/15/20240.1%
Magna International, Inc.0.000% 10/08/20190.1%
Banco Mercantil del Norte SA/Grand Cayman7.625% 07/06/21670.1%
Marathon Petroleum Corp.5.375% 10/01/20220.1%
Citizens Financial Group, Inc.4.150% 09/28/20220.1%
Discover Financial Services3.850% 11/21/20220.1%
Ford Motor Credit Co. LLC5.113% 05/03/20290.1%
MPLX L.P.6.250% 10/15/20220.1%
VEREIT Operating Partnership L.P.4.625% 11/01/20250.1%
AbbVie, Inc.4.700% 05/14/20450.1%
Oztel Holdings SPC Ltd6.625% 04/24/20280.1%
Valmont Industries, Inc.5.250% 10/01/20540.1%
ZF North America Capital, Inc.4.000% 04/29/20200.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Jamestown CLO VII Ltd.3.576% 07/25/20270.1%
Salem Fields CLO Ltd 2016-23.976% 10/25/20280.1%
Macquarie Bank Ltd.4.875% 06/10/20250.1%
Wells Fargo Commercial Mortgage Trust4.420% 07/15/20460.1%
GM Financial Automobile Leasing Trust 2017-32.010% 11/20/20200.1%
Texas Eastern Transmission L.P.4.125% 12/01/20200.1%
CDW Corp.5.000% 09/01/20230.1%
HPS Loan Management 10-2016 Ltd3.892% 01/20/20280.1%
Newmont Mining Corp.3.625% 06/09/20210.1%
Minejesa Capital BV5.625% 08/10/20370.1%
Bahamas Government International Bond6.000% 11/21/20280.1%
Martin Marietta Materials, Inc.3.173% 05/22/20200.1%
MEG Energy Corp.6.375% 01/30/20230.1%
Electricite de France SA5.000% 09/21/20480.1%
Mountain Hawk III CLO Ltd.3.500% 04/18/20250.1%
China Evergrande Group10.000% 04/11/20230.1%
Infraestructura Energetica Nova SAB de CV4.875% 01/14/20480.1%
Charter Communications Operating LLC6.484% 10/23/20450.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Bowman Park CLO Ltd.3.328% 11/23/20250.1%
Regatta VI Funding Ltd4.328% 07/20/20280.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
COMM Mortgage Trust4.584% 07/10/20500.1%
Canadian Pacific Railway Co.7.125% 10/15/20310.1%
Santander Drive Auto Receivables Trust 2015-23.020% 04/15/20210.1%
Vedanta Resources plc6.125% 08/09/20240.1%
Yingde Gases Investment Ltd6.250% 01/19/20230.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
T-Mobile USA, Inc.6.000% 04/15/20240.1%
Molson Coors Brewing Co.0.000% 10/01/20190.1%
Enterprise Products Operating LLC7.550% 04/15/20380.1%
YPF S.A.6.950% 07/21/20270.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
New York St Electric & Gas Corp.3.300% 09/15/20490.1%
Turkiye Vakiflar Bankasi Tao5.750% 01/30/20230.1%
T-Mobile USA, Inc.6.375% 03/01/20250.1%
Allegion plc3.500% 10/01/20290.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Drive Auto Receivables Trust 2017-12.840% 04/15/20220.1%
JPMBB Commercial Mortgage Securities Trust4.411% 07/15/20480.1%
Nissan Motor Acceptance Corp.2.930% 03/15/20210.1%
Jabil, Inc.0.000% 10/16/20190.1%
Spirit Realty LP4.000% 07/15/20290.1%
Glencore Funding LLC4.125% 05/30/20230.1%
SL Green Realty Corp.4.500% 12/01/20220.1%
Government National Mortgage Association2.600% 07/16/20580.1%
Eterna Capital Pte Ltd7.500% 12/11/20220.1%
CEOC, LLC (aka Caesars Entertainment Operating Company)4.044% 10/07/20240.1%
Delphi Automotive plc4.350% 03/15/20290.1%
United Rentals North AM4.148% 10/31/20250.1%
VA Electric & Power Co.8.875% 11/15/20380.1%
Red de Carreteras de Occidente SAPIB de CV9.000% 06/10/20280.1%
U.S. Treasury Note/Bond2.750% 11/15/20470.1%
Palmer Square Loan Funding 2018-1 Ltd3.353% 04/15/20260.1%
SESI LLC7.125% 12/15/20210.1%
CVS Caremark Corp.0.000% 10/01/20190.1%
Southern Star Central Corp.5.125% 07/15/20220.1%
Cox Communications, Inc.4.500% 06/30/20430.1%
Cent CLO Ltd.3.586% 10/29/20250.1%
CPG Merger Sub LLC8.000% 10/01/20210.1%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.1%
E*TRADE Financial Corp.3.800% 08/24/20270.1%
MidOcean Credit CLO VI4.178% 01/20/20290.1%
Exelon Generation Co. LLC5.750% 10/01/20410.1%
Northrop Grumman Systems Corp.7.875% 03/01/20260.1%
SAIC, Inc.5.950% 12/01/20400.1%
Park Aerospace Holdings Ltd4.500% 03/15/20230.1%
Syngenta Finance NV4.441% 04/24/20230.1%
Danske Bank A/S2.800% 03/10/20210.1%
Range Resources Corp.5.000% 08/15/20220.1%
Bayer US Finance II LLC3.875% 12/15/20230.1%
BlueMountain CLO 2013-1 Ltd4.028% 01/20/20290.1%
Avery Point CLO Ltd.3.876% 04/25/20260.0%
Alliant Holdings Intermediate LLC8.250% 08/01/20230.0%
Royal Caribbean Cruises Ltd.0.000% 10/01/20190.0%
Energy Transfer Operating LP6.125% 12/15/20450.0%
Enterprise Fleet Financing LLC2.870% 10/20/20230.0%
Madison Park Funding XXI Ltd3.806% 07/25/20290.0%
Sterigenics-Nordion Topco LLC8.125% 11/01/20210.0%
Genesys Telecommunications Laboratories Inc/Greene10.000% 11/30/20240.0%
DRB Prime Student Loan Trust3.200% 01/25/20400.0%
BAE Systems Finance Inc7.500% 07/01/20270.0%
Scientific Games International, Inc.10.000% 12/01/20220.0%
Palmer Square Loan Funding 2018-1 Ltd3.703% 04/15/20260.0%
Duqesne Light Holdings, Inc.6.400% 09/15/20200.0%
Illinois, IL4.950% 06/01/20230.0%
Microchip Technology Inc4.330% 05/23/20250.0%
EnCana Corp.0.000% 10/23/20190.0%
Lockheed Martin Corp.7.750% 05/01/20260.0%
Citigroup, Inc.5.950% 12/31/20990.0%
Macquarie Bank Ltd./London6.125% 03/08/21670.0%
PTL Finance Corp.3.950% 03/10/20250.0%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.0%
ACC Trust 2018-14.820% 05/20/20210.0%
West Fraser Timber Co. Ltd.4.350% 10/15/20240.0%
Rede D'or Finance Sarl4.950% 01/17/20280.0%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.0%
Bombardier, Inc.8.750% 12/01/20210.0%
Triumph Group, Inc.4.875% 04/01/20210.0%
Turkiye Vakiflar Bankasi Tao5.625% 05/30/20220.0%
GS Mortgage Securities Trust4.557% 07/10/20480.0%
FirstEnergy Transmission LLC4.350% 01/15/20250.0%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.0%
Reynolds American, Inc.4.450% 06/12/20250.0%
Emera US Finance L.P.2.700% 06/15/20210.0%
AT&T, Inc.5.350% 09/01/20400.0%
Bill Barrett Corp.7.000% 10/15/20220.0%
Newell Rubbermaid, Inc.5.000% 11/15/20230.0%
ZF North America Capital, Inc.4.500% 04/29/20220.0%
Berkshire Hathaway Finance Corp.4.250% 01/15/20490.0%
Galaxy XXI CLO Ltd3.298% 04/20/20310.0%
UTEX Industries9.294% 05/22/20220.0%
McDonald's Corp.6.300% 10/15/20370.0%
Symantec Corp4.483% 08/01/20210.0%
Colfax Corp.0.000% 12/17/20200.0%
Jabil, Inc.0.000% 10/17/20190.0%
EnCana Corp.0.000% 10/15/20190.0%
SM Energy Co.6.125% 11/15/20220.0%
Smithfield Foods, Inc.3.350% 02/01/20220.0%
Navios South American Logistics Inc / Navios Logis7.250% 05/01/20220.0%
Santander UK plc5.000% 11/07/20230.0%
Doncasters US Finance LLC (Doncasters US LLC)0.000% 04/09/20200.0%
GS Mortgage Securities Trust1.559% 06/10/20460.0%
Studio City Co Ltd7.250% 11/30/20210.0%
Palmer Square Loan Funding 2018-5 Ltd3.678% 01/20/20270.0%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.0%
Danske Bank A/S4.375% 06/12/20280.0%
Eldorado Resorts, Inc.4.553% 04/17/20240.0%
NOVA Chemicals Corp.5.250% 08/01/20230.0%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.0%
GS Mortgage Securities Trust0.654% 06/10/20460.0%
Halcyon Loan Advisors Funding Ltd.4.426% 07/25/20270.0%
Santander Drive Auto Receivables Trust 2016-14.020% 04/15/20220.0%
ACC Trust 2018-16.810% 02/21/20230.0%
Apex Credit CLO 2017 Ltd4.233% 04/24/20290.0%
Country Garden Holdings Co. Ltd.4.750% 01/17/20230.0%
Glencore Funding LLC3.000% 10/27/20220.0%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.0%
Elanco Animal Health Inc4.900% 08/28/20280.0%
AutoNation, Inc.0.000% 10/01/20190.0%
CSX Corporation, Inc.7.875% 05/15/20430.0%
Apex Credit CLO 2016 Ltd4.106% 10/27/20280.0%
Seneca Park CLO Ltd.3.423% 07/17/20260.0%
Boston Scientific Corp.0.000% 11/07/20190.0%
Canadian Tire Corp Ltd0.000% 10/07/20190.0%
Compass Bank3.875% 04/10/20250.0%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.0%
Apidos CLO XVI5.303% 01/19/20250.0%
Illinois, IL5.520% 04/01/20380.0%
Lockheed Martin Tactical Systems Inc7.625% 06/15/20250.0%
Metropolitan Edison Co.4.000% 04/15/20250.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
Avis Budget Rental Car Funding2.630% 12/20/20210.0%
Glencore Finance Canada Ltd.4.250% 10/25/20220.0%
International Lease Finance Corp.5.875% 08/15/20220.0%
General Motors Financial Co., Inc.4.250% 05/15/20230.0%
Avery Point CLO Ltd.3.283% 07/17/20260.0%
SCANA Corp.6.250% 04/01/20200.0%
Petroleos Mexicanos6.490% 01/23/20270.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
Ashtead Capital, Inc.5.625% 10/01/20240.0%
CIT Group, Inc.5.800% 12/31/20990.0%
IHS Markit Ltd3.625% 05/01/20240.0%
Merrill Lynch Mortgage Investors Trust Series6.250% 10/25/20360.0%
General Electric Co.3.375% 03/11/20240.0%
General Electric Co.3.100% 01/09/20230.0%
UTEX Industries6.044% 05/22/20210.0%
Campbell Soup Co.0.000% 10/07/20190.0%
National Fuel Gas Co.0.000% 10/01/20190.0%
Government National Mortgage Association0.623% 07/16/20540.0%
Drive Auto Receivables Trust4.590% 01/17/20230.0%
HudBay Minerals, Inc.7.625% 01/15/20250.0%
Bayer US Finance II LLC3.500% 06/25/20210.0%
Newell Rubbermaid, Inc.0.000% 10/01/20190.0%
Canadian Pacific Railway Co.9.450% 08/01/20210.0%
Intesa Sanpaolo SpA6.500% 02/24/20210.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
Mondelez International, Inc.0.000% 10/01/20190.0%
El Paso Electric Co.6.000% 05/15/20350.0%
Hudsons Bay Simon JV Trust0.723% 08/05/20340.0%
General Electric Co.3.450% 05/15/20240.0%
Milacron LLC4.912% 09/28/20230.0%
Oncor Electric Delivery Co. LLC7.500% 09/01/20380.0%
Drive Auto Receivables Trust3.840% 07/15/20210.0%
Broadcom Inc0.000% 10/08/20190.0%
Jabil, Inc.0.000% 10/01/20190.0%
Kinetic Concepts, Inc. / KCI USA, Inc.12.500% 11/01/20210.0%
Cox Communications, Inc.4.700% 12/15/20420.0%
PG&E Corp5.029% 12/31/20200.0%
Pyxus International Inc9.875% 07/15/20210.0%
Republic of Argentina4.625% 01/11/20230.0%
Kinder Morgan, Inc.0.000% 10/01/20190.0%
NXP BV / NXP Funding LLC3.875% 09/01/20220.0%
Electricite de France SA0.000% 10/07/20190.0%
Sonoco Products Co.0.000% 10/01/20190.0%
GS Mortgage Securities Trust0.330% 11/10/20480.0%
Anheuser-Busch InBev Worldwide, Inc.8.200% 01/15/20390.0%
Bank of America Corp.3.170% 09/15/20260.0%
Range Resources Corp.5.875% 07/01/20220.0%
Triumph Group, Inc.6.250% 09/15/20240.0%
Diageo Capital plc0.000% 10/03/20190.0%
Valero Energy Corp.7.500% 04/15/20320.0%
WFRBS Commercial Mortgage Trust1.133% 05/15/20470.0%
William Lyon Homes, Inc.7.000% 08/15/20220.0%
Enterprise Development Authority/The12.000% 07/15/20240.0%
General Motors Financial Co., Inc.0.000% 10/01/20190.0%
Oncor Electric Delivery Co. LLC7.000% 05/01/20320.0%
Drive Auto Receivables Trust3.020% 11/15/20210.0%
HudBay Minerals, Inc.7.250% 01/15/20230.0%
Bayer US Finance II LLC2.750% 07/15/20210.0%
Glencore Funding LLC4.125% 03/12/20240.0%
Sequoia Mortgage Trust 2012-42.069% 09/25/20420.0%
NRG Yield, Inc.3.250% 06/01/20200.0%
Public Service Co. of New Mexico3.850% 08/01/20250.0%
Duke Energy Corp.0.000% 10/01/20190.0%
Energy Transfer Partners LP / Regency Energy Finan5.000% 10/01/20220.0%
OneMain Financial Issuance Trust 2016-1A3.660% 02/20/20290.0%
Dr. Pepper Snapple Group, Inc.5.085% 05/25/20480.0%
Doncasters US Finance LLC (Doncasters US LLC)10.354% 10/09/20200.0%
Hudsons Bay Simon JV Trust0.665% 08/05/20340.0%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.0%
Aviation Capital Group Corp.0.000% 10/01/20190.0%
South Jersey Gas Co0.000% 10/01/20190.0%
South Jersey Gas Co0.000% 10/07/20190.0%
Hyundai Capital America0.000% 10/07/20190.0%
Magna International, Inc.0.000% 10/07/20190.0%
Interstate Power & Light Co4.700% 10/15/20430.0%
Reynolds Group Issuer, Inc.6.875% 02/15/20210.0%
Altice Luxembourg SA7.750% 05/15/20220.0%
Fiat Chrysler Automobiles N.V.5.250% 04/15/20230.0%
Antero Resources Corp.5.125% 12/01/20220.0%
Vodafone Group plc3.750% 01/16/20240.0%
Range Resources Corp.5.000% 03/15/20230.0%
Diamond Resorts Owner Trust3.080% 11/20/20280.0%
Canadian National Railway Co.7.375% 10/15/20310.0%
Suncor Energy Ventures Corp4.500% 04/01/20220.0%
MEG Energy Corp.6.500% 01/15/20250.0%
Trinity Acquisition plc4.625% 08/15/20230.0%
PG&E Corp5.029% 12/31/20200.0%
Glencore Funding LLC4.625% 04/29/20240.0%
California Republic Auto Receivables Trust1.750% 01/15/20210.0%
Chaparral Energy, Inc.0.000% -0.0%
Washington Gas Light Co0.000% 10/01/20190.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
Union Pacific Corp.6.625% 02/01/20290.0%
JPMBB Commercial Mortgage Securities Trust0.929% 04/15/20470.0%
WFRBS Commercial Mortgage Trust0.736% 05/15/20470.0%
Templar Energy LLC0.000% -0.0%
CSX Corp.6.000% 10/01/20360.0%
DOMMO ENERGIA SA-SP ADR0.000% -0.0%
JPMBB Commercial Mortgage Securities Trust0.460% 04/15/20470.0%
Afren plc10.250% 04/08/20220.0%
Eneva SA0.000% -0.0%
Afren plc6.625% 12/09/20200.0%
Federal Home Loan Mortgage Corp.0.000% 08/15/20220.0%
OGX Austria GmbH8.500% 06/01/20190.0%
Templar Energy LLC0.000% -0.0%
US 10YR NOTE (CBT)DEC190.000% 12/31/20190.0%
US LONG BOND(CBD) DEC190.000% 12/31/20190.0%
US ULTRA BOND CBT DEC190.000% 12/31/20190.0%
EURO-SCHATZ FUT DEC190.000% 12/10/20190.0%
Federal Home Loan Mortgage Corp.544.714% 12/15/20200.0%
Federal Home Loan Mortgage Corp.1185.497% 09/15/20210.0%
Federal Home Loan Mortgage Corp.982.654% 04/15/20220.0%
Federal Home Loan Mortgage Corp.1195.607% 04/15/20210.0%
Federal Home Loan Mortgage Corp.1007.780% 05/15/20210.0%
Federal Home Loan Mortgage Corp.1008.400% 11/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 10/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 06/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 07/01/20220.0%
Federal Home Loan Mortgage Corp.0.000% 09/15/20220.0%
Federal Home Loan Mortgage Corp.1007.000% 02/15/20220.0%
Federal Home Loan Mortgage Corp.1008.500% 04/15/20210.0%
Federal Home Loan Mortgage Corp.1009.000% 02/15/20210.0%
Federal Home Loan Mortgage Corp.1010.500% 02/15/20210.0%
Federal Home Loan Mortgage Corp.409.000% 04/15/20210.0%
Federal Home Loan Mortgage Corp.900.950% 12/15/20200.0%
Federal National Mortgage Assoc.0.000% 04/25/20220.0%
Federal National Mortgage Assoc.9.500% 08/25/20210.0%
Federal National Mortgage Assoc.1008.000% 12/25/20210.0%
FX USD/MXN 11/190.000% 11/14/20190.0%
US 10YR ULTRA FUT DEC190.000% 12/31/20190.0%
US 2YR NOTE (CBT) DEC190.000% 01/06/20200.0%
US 5YR NOTE (CBT) DEC190.000% 01/06/20200.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%

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 11/12/2019
$0.098
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 10/31/2019 $0.00937 $2.91
Daily Daily 09/30/2019 $0.00971 $2.90
Daily Daily 08/31/2019 $0.00961 $2.92
Daily Daily 07/31/2019 $0.00973 $2.87
Daily Daily 06/30/2019 $0.00991 $2.86
Daily Daily 05/31/2019 $0.00992 $2.81
Daily Daily 04/30/2019 $0.00997 $2.80
Daily Daily 03/31/2019 $0.00996 $2.79
Daily Daily 02/28/2019 $0.01021 $2.74
Daily Daily 01/31/2019 $0.00999 $2.73

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.0038 $0.0108 $0.0146 $2.87
*

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
12/17/2019 12/18/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 10/31/2019

0.57%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Publish Date:11/03/2015
Flyer
Publish Date:11/03/2015

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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 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.

 

 

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.

 

Class I - SEC Returns reflect performance for Class I shares at Net Asset Value.

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and distribution fees.

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1.50% if the shares are repurchased before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and distribution fees.

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1.50% if the shares are repurchased before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

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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