LAGVX | Income Fund Class A | Lord Abbett

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Income Fund

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Daily price w/o sales charge as of 09/28/2023

$2.31

$0.00

YTD Returns w/o sales charge as of 09/28/2023

0.63%

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

Average Yield to Maturity as of 08/31/2023

6.27%

30-Day Standardized Yield 1 as of 08/31/2023  

5.36%

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

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Fund Basicsas of 08/31/2023

Total Net Assets
$3.32 B
Inception Date
09/19/1932*
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.75%
Fund Net Expense Ratio
0.75%
Number of Holdings
369
Minimum Initial Investment
$1,500+

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

*

The Fund changed its investment strategy on 01/01/1982. Performance is calculated from this date.

Fund Expense Ratio :

Gross 0.75%

Net 0.75%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/01/1982
w/o sales charge 3.25% 0.63% -2.82% 1.27% 2.69% 6.89%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 2.68% 0.25% -4.30% 1.11% 2.28% -
Bloomberg U.S. Credit Bond Index 2.70% 0.85% -4.08% 1.32% 2.47% 7.66%
w/ sales charge 1.13% -1.75% -3.57% 0.84% 2.44% 6.84%

Fund Expense Ratio :

Gross 0.75%

Net 0.75%

Fund Expense Ratio :

Gross 0.75%

Net 0.75%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/01/1982
w/o sales charge 3.26% 0.95% -1.84% 1.41% 2.67% 6.92%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 3.17% 0.94% -3.49% 1.43% 2.32% -
Bloomberg U.S. Credit Bond Index 3.13% 1.39% -3.38% 1.65% 2.51% 7.71%
w/ sales charge 1.13% -1.43% -2.63% 0.97% 2.42% 6.87%

Fund Expense Ratio :

Gross 0.75%

Net 0.75%

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
U.S. Government Related
Bank Loans
ABS
MBS
CLO
CMBS
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 08/31/2023 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

25 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

32 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

29 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

22 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Partner, Portfolio Manager

20 Years of Industry Experience

Eric P. Kang
Eric P. Kang

Managing Director, Portfolio Manager

24 Years of Industry Experience

Supported By 76 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 08/31/2023

6.27%

30-Day Standardized Yield 1 as of 08/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 5.36% 5.36%

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

Fund Expense Ratio :

Gross 0.75%

Net 0.75%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/01/1982
w/o sales charge 3.25% 0.63% -2.82% 1.27% 2.69% 6.89%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 2.68% 0.25% -4.30% 1.11% 2.28% -
Bloomberg U.S. Credit Bond Index 2.70% 0.85% -4.08% 1.32% 2.47% 7.66%
w/ sales charge 1.13% -1.75% -3.57% 0.84% 2.44% 6.84%

Fund Expense Ratio :

Gross 0.75%

Net 0.75%

Fund Expense Ratio :

Gross 0.75%

Net 0.75%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/01/1982
w/o sales charge 3.26% 0.95% -1.84% 1.41% 2.67% 6.92%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 3.17% 0.94% -3.49% 1.43% 2.32% -
Bloomberg U.S. Credit Bond Index 3.13% 1.39% -3.38% 1.65% 2.51% 7.71%
w/ sales charge 1.13% -1.43% -2.63% 0.97% 2.42% 6.87%

Fund Expense Ratio :

Gross 0.75%

Net 0.75%

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 U.S. Credit Bond Index
2022 -15.48% -15.26%
2021 1.30% -1.08%
2020 7.95% 9.35%
2019 12.92% 13.80%
2018 -2.69% -2.11%
2017 6.93% 6.18%
2016 8.74% 5.63%
2015 -3.09% -0.77%
2014 7.23% 7.53%
2013 0.27% -2.01%
2012 12.51% -
2011 6.55% -
2010 10.84% -
2009 30.23% -
2008 -10.16% -
2007 6.17% -
2006 3.58% -
2005 2.23% -
2004 3.81% -
2003 1.58% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 3.71% -0.44% - - 0.63%
2022 -6.43% -7.61% -4.98% 2.89% -15.48%
2021 -2.55% 3.52% 0.41% 0.00% 1.30%
2020 -9.10% 11.02% 2.97% 3.88% 7.95%
2019 5.20% 3.54% 2.37% 1.26% 12.92%
2018 -1.49% -0.76% 0.67% -1.13% -2.69%
2017 2.33% 1.94% 1.59% 0.89% 6.93%
2016 3.07% 4.36% 2.75% -1.61% 8.74%
2015 1.83% -1.72% -2.09% -1.09% -3.09%
2014 3.72% 3.64% -0.19% -0.06% 7.23%
2013 1.20% -3.53% 0.57% 2.12% 0.27%
2012 3.78% 1.28% 4.69% 2.24% 12.51%
2011 2.04% 2.35% -0.43% 2.47% 6.55%
2010 3.37% 1.82% 5.77% -0.43% 10.84%
2009 2.64% 13.30% 9.57% 2.21% 30.23%
2008 1.16% 0.53% -6.43% -5.59% -10.16%
2007 1.14% -0.86% 2.73% 3.07% 6.17%
2006 -0.92% -0.15% 3.53% 1.14% 3.58%
2005 -0.23% 2.87% -0.97% 0.59% 2.23%
2004 2.46% -2.48% 2.95% 0.91% 3.81%
2003 0.61% 1.69% -0.87% 0.14% 1.58%
2002 0.09% 4.04% 4.29% 1.10% 9.81%
2001 2.33% 0.31% 4.76% -0.60% 6.91%
2000 1.62% 2.04% 3.20% 4.05% 11.36%
1999 -0.35% -1.21% 0.43% -0.40% -1.57%
1998 1.25% 2.41% 3.95% 0.11% 7.90%
1997 -1.58% 4.08% 3.24% 3.20% 9.16%
1996 -2.75% -0.01% 1.64% 2.84% 1.65%
1995 4.23% 4.46% 2.13% 4.02% 15.65%
1994 -3.44% -1.73% 0.49% 0.39% -4.25%
1993 3.77% 3.02% 2.37% -0.15% 9.22%
1992 -2.13% 3.64% 4.99% 0.58% 7.10%
1991 2.39% 1.03% 6.79% 5.81% 16.90%
1990 -1.25% 3.79% 0.19% 6.37% 9.23%
1989 0.71% 7.02% 0.86% 3.71% 12.76%
1988 4.08% 1.40% 2.19% -0.02% 7.79%
1987 2.04% -3.12% -3.71% 6.77% 1.65%
1986 7.51% -0.68% 4.27% 3.27% 14.97%
1985 0.71% 9.68% 1.83% 6.44% 19.70%
1984 1.33% -2.82% 7.11% 6.81% 12.68%
1983 5.62% 2.63% 0.80% 0.64% 9.95%
1982 - 2.91% 10.87% 8.62% 27.89%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 08/31/2023

The chart begins on the Fund's inception date of 01/01/1982.

Based on a hypothetical Class A share investment of $10,000 on 01/01/1982 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
Investment Grade Corporate
High Yield Corporate
U.S. Government Related
Bank Loans
ABS
MBS
CLO
CMBS
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 08/31/2023

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

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

Portfolio Details as of 08/31/2023

Total Net Assets
$3.32 B
Average Effective Duration
6.98 Years
Average Life
8.24 Years
Average Maturity
8.2 Years
Number of Issues
369
Average Yield to Maturity
6.27%

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

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

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

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

Holding Coupon Maturity Assets
United States Treasury Note/Bond 3.625% 05/15/2053 1.5%
United States Treasury Bill 0.000% 09/14/2023 1.5%
Sprint Capital Corp 6.875% 11/15/2028 1.3%
United States Treasury Note/Bond 3.875% 08/15/2033 1.2%
BAT Capital Corp 7.750% 10/19/2032 1.1%
United States Treasury Note/Bond 4.375% 08/15/2043 1.1%
United States Treasury Inflation Indexed Bonds 0.250% 01/15/2025 1.1%
JPMorgan Chase & Co 4.912% 07/25/2033 1.0%
Continental Resources Inc/OK 5.750% 01/15/2031 1.0%
Bank of America Corp 2.687% 04/22/2032 0.9%
% of Total Assets 11.7%
Holding Coupon Maturity Assets
United States Treasury Note/Bond3.625% 05/15/20531.9%
Sprint Capital Corp6.875% 11/15/20281.3%
United States Treasury Inflation Indexed Bonds0.250% 01/15/20251.1%
BAT Capital Corp7.750% 10/19/20321.1%
JPMorgan Chase & Co4.912% 07/25/20331.0%
Continental Resources Inc/OK5.750% 01/15/20311.0%
Bank of America Corp2.687% 04/22/20321.0%
United States Treasury Bill0.000% 08/31/20230.9%
Centene Corp3.375% 02/15/20300.9%
Netflix Inc5.375% 11/15/20290.9%
Electricite de France SA6.250% 05/23/20330.8%
Broadcom Inc3.469% 04/15/20340.8%
VICI Properties LP / VICI Note Co Inc4.625% 06/15/20250.8%
AT&T Inc3.500% 09/15/20530.7%
Philip Morris International Inc5.625% 11/17/20290.7%
Toronto-Dominion Bank/The4.456% 06/08/20320.7%
Comision Federal de Electricidad4.688% 05/15/20290.7%
Crown Castle Inc3.300% 07/01/20300.7%
Goldman Sachs Group Inc/The2.383% 07/21/20320.7%
Pacific Gas and Electric Co4.550% 07/01/20300.7%
GE HealthCare Technologies Inc5.650% 11/15/20270.7%
Southwest Gas Corp4.050% 03/15/20320.7%
Regal Rexnord Corp6.300% 02/15/20300.6%
Humana Inc3.700% 03/23/20290.6%
NGPL PipeCo LLC4.875% 08/15/20270.6%
Workday Inc3.800% 04/01/20320.6%
Antero Resources Corp5.375% 03/01/20300.6%
Puget Energy Inc4.100% 06/15/20300.6%
Lowe's Cos Inc5.000% 04/15/20330.6%
LPL Holdings Inc4.375% 05/15/20310.6%
State of Illinois5.100% 06/01/20330.6%
American Tower Corp3.800% 08/15/20290.6%
Kellogg Co5.250% 03/01/20330.6%
JT International Financial Services BV6.875% 10/24/20320.6%
EQT Corp7.000% 02/01/20300.6%
Vistra Operations Co LLC3.550% 07/15/20240.6%
Imperial Brands Finance PLC6.125% 07/27/20270.5%
Stars Group Holdings BV7.754% 07/21/20260.5%
Global Payments Inc5.300% 08/15/20290.5%
Viterra Finance BV3.200% 04/21/20310.5%
Amazon.com Inc4.700% 12/01/20320.5%
Cargill Inc4.000% 06/22/20320.5%
Patterson-UTI Energy Inc5.150% 11/15/20290.5%
Aircastle Ltd6.500% 07/18/20280.5%
Bayer Corp/NJ6.650% 02/15/20280.5%
Texas Natural Gas Securitization Finance Corp5.169% 04/01/20410.5%
Citigroup Inc2.561% 05/01/20320.5%
Ovintiv Inc6.250% 07/15/20330.5%
Oracle Corp6.125% 07/08/20390.5%
Amgen Inc5.250% 03/02/20330.5%
Avolon Holdings Funding Ltd4.250% 04/15/20260.5%
Amgen Inc4.875% 03/01/20530.5%
American Express Co5.043% 05/01/20340.5%
Oracle Corp5.375% 07/15/20400.5%
Citigroup Inc4.910% 05/24/20330.5%
Intesa Sanpaolo SpA6.625% 06/20/20330.5%
Haleon US Capital LLC3.625% 03/24/20320.5%
Duke Energy Corp4.500% 08/15/20320.4%
Morgan Stanley6.342% 10/18/20330.4%
Citigroup Inc6.174% 05/25/20340.4%
UBS AG5.125% 05/15/20240.4%
United States Treasury Note/Bond1.625% 11/15/20500.4%
ServiceNow Inc1.400% 09/01/20300.4%
State Street Corp4.164% 08/04/20330.4%
HCA Inc5.500% 06/01/20330.4%
US Bancorp4.839% 02/01/20340.4%
American Express Co4.989% 05/26/20330.4%
Wells Fargo & Co3.350% 03/02/20330.4%
International Flavors & Fragrances Inc1.230% 10/01/20250.4%
Hilton Worldwide Finance LLC7.148% 06/22/20260.4%
NRG Energy Inc4.450% 06/15/20290.4%
Celanese US Holdings LLC5.900% 07/05/20240.4%
nVent Finance Sarl4.550% 04/15/20280.4%
Diamondback Energy Inc6.250% 03/15/20330.4%
F&G Annuities & Life Inc7.400% 01/13/20280.4%
Pfizer Investment Enterprises Pte Ltd4.750% 05/19/20330.4%
Bacardi Ltd / Bacardi-Martini BV5.400% 06/15/20330.4%
MSCI Inc3.625% 11/01/20310.4%
Barclays PLC7.119% 06/27/20340.4%
Humana Inc5.875% 03/01/20330.4%
Amgen Inc4.050% 08/18/20290.4%
Horizon Therapeutics USA Inc7.156% 03/15/20280.4%
Crescent Energy Finance LLC7.250% 05/01/20260.4%
Booz Allen Hamilton Inc3.875% 09/01/20280.4%
Danske Bank A/S5.375% 01/12/20240.4%
Earthstone Energy Holdings LLC8.000% 04/15/20270.4%
Fairstone Financial Issuance Trust I5.162% 10/20/20390.4%
DTE Energy Co2.950% 03/01/20300.4%
US 10yr Ultra Fut Sep230.000% 09/29/20230.4%
Oracle Corp6.250% 11/09/20320.4%
Duquesne Light Holdings Inc2.775% 01/07/20320.4%
Minejesa Capital BV4.625% 08/10/20300.4%
IPALCO Enterprises Inc4.250% 05/01/20300.4%
Southern Co/The2.700% 08/01/20240.4%
CVS Health Corp5.050% 03/25/20480.3%
T-Mobile USA Inc3.875% 04/15/20300.3%
Brown & Brown Inc4.200% 03/17/20320.3%
Jacobs Engineering Group Inc5.900% 03/01/20330.3%
Avis Budget Rental Car Funding AESOP LLC3.710% 08/20/20270.3%
AbbVie Inc3.200% 11/21/20290.3%
Octane Receivables Trust 2022-25.850% 07/20/20280.3%
Charter Communications Operating LLC7.067% 04/30/20250.3%
Eni SpA5.700% 10/01/20400.3%
JPMorgan Chase & Co2.963% 01/25/20330.3%
Callon Petroleum Co8.000% 08/01/20280.3%
Occidental Petroleum Corp6.375% 09/01/20280.3%
AEP Transmission Co LLC5.400% 03/15/20530.3%
Louisville Gas and Electric Co5.450% 04/15/20330.3%
Oklahoma Gas and Electric Co5.600% 04/01/20530.3%
CVS Health Corp4.780% 03/25/20380.3%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.3%
Constellation Energy Generation LLC5.800% 03/01/20330.3%
Sitios Latinoamerica SAB de CV5.375% 04/04/20320.3%
Standard Chartered PLC6.296% 07/06/20340.3%
Barclays PLC6.224% 05/09/20340.3%
Virginia Electric and Power Co5.450% 04/01/20530.3%
Alcon Finance Corp5.375% 12/06/20320.3%
Elevance Health Inc2.250% 05/15/20300.3%
Mitsubishi UFJ Financial Group Inc5.406% 04/19/20340.3%
Cox Communications Inc5.700% 06/15/20330.3%
CVS Health Corp5.250% 01/30/20310.3%
IQVIA Inc5.700% 05/15/20280.3%
UBS Group AG6.373% 07/15/20260.3%
Oglethorpe Power Corp5.950% 11/01/20390.3%
ITC Holdings Corp5.400% 06/01/20330.3%
ARAMARK SERVICES INC.7.933% 06/22/20300.3%
Ashtead Capital Inc5.950% 10/15/20330.3%
Liberty Utilities Finance GP 12.050% 09/15/20300.3%
Morgan Stanley5.424% 07/21/20340.3%
XCEL ENERGY INC5.450% 08/15/20330.3%
Aircastle Ltd2.850% 01/26/20280.3%
New York Life Global Funding4.550% 01/28/20330.3%
Kinross Gold Corp6.250% 07/15/20330.3%
Avolon Holdings Funding Ltd3.950% 07/01/20240.3%
Madison Park Funding XVII Ltd7.095% 07/21/20300.3%
Danske Bank A/S3.773% 03/28/20250.3%
Atlantica Sustainable Infrastructure PLC4.125% 06/15/20280.3%
Fifth Third Bancorp6.339% 07/27/20290.3%
Intercontinental Exchange Inc4.350% 06/15/20290.3%
MB Aerospace Holdings II Corp0.000% 01/22/20250.3%
National Australia Bank Ltd3.933% 08/02/20340.3%
Trimble Inc6.100% 03/15/20330.3%
California Resources Corp7.125% 02/01/20260.3%
AT&T Inc4.300% 02/15/20300.3%
Wells Fargo & Co4.897% 07/25/20330.3%
Vermilion Energy Inc6.875% 05/01/20300.3%
Permian Resources Operating LLC6.875% 04/01/20270.3%
National Grid PLC5.809% 06/12/20330.3%
Elevance Health Inc4.100% 05/15/20320.3%
Spire Missouri Inc4.800% 02/15/20330.3%
Palomino Funding Trust I7.233% 05/17/20280.3%
US Bancorp4.967% 07/22/20330.3%
EPR Properties4.950% 04/15/20280.3%
Berry Petroleum Co LLC7.000% 02/15/20260.3%
Romark CLO Ltd7.257% 10/23/20300.3%
SM Energy Co6.500% 07/15/20280.3%
Diamondback Energy Inc3.125% 03/24/20310.3%
Assurant Inc3.700% 02/22/20300.3%
EIG Pearl Holdings Sarl3.545% 08/31/20360.3%
SEB Funding LLC4.969% 01/30/20520.3%
American Express Co4.420% 08/03/20330.3%
Catalent Pharma Solutions Inc3.125% 02/15/20290.3%
Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.3%
FactSet Research Systems Inc3.450% 03/01/20320.3%
Apache Corp5.100% 09/01/20400.3%
CarMax Auto Owner Trust 2023-16.270% 11/15/20290.3%
BankUnited Inc5.125% 06/11/20300.3%
Regal Rexnord Corp6.050% 04/15/20280.3%
Project Alpha Intermediate Holding Inc9.319% 04/26/20240.3%
Great Wolf Trust 2019-WOLF6.370% 12/15/20360.3%
Civitas Resources Inc8.750% 07/01/20310.3%
International Flavors & Fragrances Inc2.300% 11/01/20300.3%
Hyatt Hotels Corp1.300% 10/01/20230.3%
AT&T Inc5.400% 02/15/20340.2%
Avolon Holdings Funding Ltd6.375% 05/04/20280.2%
Earthstone Energy Holdings LLC9.875% 07/15/20310.2%
Rad CLO 7 Ltd6.770% 04/17/20330.2%
Comstock Resources Inc5.875% 01/15/20300.2%
Bank of America Corp2.482% 09/21/20360.2%
Cellnex Finance Co SA3.875% 07/07/20410.2%
Macquarie Bank Ltd3.052% 03/03/20360.2%
Ovintiv Inc6.500% 02/01/20380.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust1.750% 10/29/20240.2%
Intesa Sanpaolo SpA8.248% 11/21/20330.2%
Citizens Bank NA/Providence RI4.119% 05/23/20250.2%
Occidental Petroleum Corp6.450% 09/15/20360.2%
Keane Group Holdings LLC0.000% 05/25/20250.2%
CenterPoint Energy Resources Corp5.400% 03/01/20330.2%
Aviation Capital Group LLC6.375% 07/15/20300.2%
L3Harris Technologies Inc5.600% 07/31/20530.2%
General Electric Co8.882% 06/15/21720.2%
GLP Capital LP / GLP Financing II Inc5.750% 06/01/20280.2%
Leidos Inc7.125% 07/01/20320.2%
Discover Bank4.682% 08/09/20280.2%
Bayer US Finance II LLC4.375% 12/15/20280.2%
Pacific Gas and Electric Co6.700% 04/01/20530.2%
Oklahoma Gas and Electric Co5.400% 01/15/20330.2%
Evergy Metro Inc4.950% 04/15/20330.2%
Morgan Stanley2.484% 09/16/20360.2%
Carvana Auto Receivables Trust 2019-44.700% 10/15/20260.2%
Intact Financial Corp5.459% 09/22/20320.2%
Capital One Financial Corp1.343% 12/06/20240.2%
BEP Ulterra Holdings Inc10.669% 11/26/20250.2%
Occidental Petroleum Corp6.625% 09/01/20300.2%
CIFC Funding 2021-IV Ltd6.620% 07/15/20330.2%
Baytex Energy Corp8.500% 04/30/20300.2%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.2%
Broadcom Inc4.150% 04/15/20320.2%
Flowserve Corp2.800% 01/15/20320.2%
ARSENAL AIC PARENT LLC0.000% 07/26/20300.2%
Pacific Gas and Electric Co6.150% 01/15/20330.2%
AES Corp/The2.450% 01/15/20310.2%
Eastern Gas Transmission & Storage Inc3.000% 11/15/20290.2%
Texas Capital Bancshares Inc4.000% 05/06/20310.2%
Molina Healthcare Inc4.375% 06/15/20280.2%
Avant Loans Funding Trust 2021-REV14.300% 07/15/20300.2%
Bank of America Corp2.299% 07/21/20320.2%
LoanCore 2022-CRE7 Issuer Ltd6.618% 01/17/20370.2%
BNP Paribas SA4.375% 03/01/20330.2%
KeyBank NA/Cleveland OH5.000% 01/26/20330.2%
Fresenius Medical Care US Finance III Inc3.000% 12/01/20310.2%
Constellation Brands Inc3.150% 08/01/20290.2%
Morgan Stanley2.239% 07/21/20320.2%
Westpac Banking Corp2.668% 11/15/20350.2%
UBS Group AG2.746% 02/11/20330.2%
Manufacturers & Traders Trust Co4.650% 01/27/20260.2%
Protective Life Corp8.450% 10/15/20390.2%
PVH Corp7.750% 11/15/20230.2%
Venture Global LNG Inc8.375% 06/01/20310.2%
Aon Corp8.205% 01/01/20270.2%
Vital Energy Inc10.125% 01/15/20280.2%
Leidos Inc4.375% 05/15/20300.2%
BPCE SA3.116% 10/19/20320.2%
Huntington Bancshares Inc/OH2.625% 08/06/20240.2%
Occidental Petroleum Corp8.875% 07/15/20300.2%
Nabors Industries Ltd7.250% 01/15/20260.2%
Cigna Group/The2.400% 03/15/20300.2%
Brown-Forman Corp4.750% 04/15/20330.2%
Viterra Finance BV4.900% 04/21/20270.2%
BAT CAPITAL CORP6.343% 08/02/20300.2%
Navient Corp6.750% 06/25/20250.2%
NatWest Group PLC3.032% 11/28/20350.2%
CVS Health Corp3.250% 08/15/20290.2%
FirstEnergy Transmission LLC4.550% 04/01/20490.2%
Constellation Energy Generation LLC6.250% 10/01/20390.2%
Crescent Energy Finance LLC9.250% 02/15/20280.2%
Baytex Energy Corp8.750% 04/01/20270.2%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.2%
Wells Fargo & Co5.574% 07/25/20290.2%
UBS Group AG5.959% 01/12/20340.2%
NOV Inc3.600% 12/01/20290.2%
Octagon Loan Funding Ltd6.525% 11/18/20310.2%
Wells Fargo & Co5.389% 04/24/20340.2%
Diamondback Energy Inc3.500% 12/01/20290.2%
SMBC Aviation Capital Finance DAC5.450% 05/03/20280.2%
Triumph Group Inc7.750% 08/15/20250.2%
Imperva Inc0.000% 01/12/20260.2%
Bank of New York Mellon Corp/The4.967% 04/26/20340.2%
CIFC Funding 2019-II Ltd7.070% 04/17/20340.2%
IQVIA Inc0.000% 06/16/20270.2%
Seminole Tribe of Florida Inc0.000% 05/13/20270.2%
Morgan Stanley5.297% 04/20/20370.2%
Marble Point CLO XVII Ltd6.888% 04/20/20330.2%
Ovintiv Inc6.625% 08/15/20370.2%
HEICO Corp5.350% 08/01/20330.1%
Selective Insurance Group Inc5.375% 03/01/20490.1%
Hertz Vehicle Financing LLC3.980% 12/26/20250.1%
Eastern Gas Transmission & Storage Inc4.600% 12/15/20440.1%
Rockcliff Energy II LLC5.500% 10/15/20290.1%
UBS Group AG3.869% 01/12/20290.1%
Viterra Finance BV2.000% 04/21/20260.1%
KeyCorp2.250% 04/06/20270.1%
Bank of New York Mellon Corp/The4.596% 07/26/20300.1%
Petroleos Mexicanos6.490% 01/23/20270.1%
Lendmark Funding Trust 2021-24.460% 04/20/20320.1%
Mariner Finance Issuance Trust 2021-A5.400% 03/20/20360.1%
Matador Resources Co6.875% 04/15/20280.1%
CS Master Trust9.285% 04/15/20250.1%
Baltimore Gas and Electric Co4.550% 06/01/20520.1%
Lending Funding Trust 2020-26.770% 04/21/20310.1%
Global Atlantic Fin Co4.700% 10/15/20510.1%
DTE Energy Co3.400% 06/15/20290.1%
Voya CLO 2018-4 Ltd6.610% 01/15/20320.1%
Westlake Automobile Receivables Trust 2021-13.910% 09/15/20270.1%
BX Commercial Mortgage Trust 2019-IMC7.486% 04/15/20340.1%
PacifiCorp4.150% 02/15/20500.1%
Leidos Inc5.750% 03/15/20330.1%
Invitation Homes Operating Partnership LP6.419% 01/31/20250.1%
Elevance Health Inc5.500% 10/15/20320.1%
American Tower Corp5.550% 07/15/20330.1%
AEP Texas Inc5.400% 06/01/20330.1%
Transocean Inc7.500% 04/15/20310.1%
Aviation Capital Group LLC3.500% 11/01/20270.1%
M&T Bank Corp5.053% 01/27/20340.1%
NatWest Group PLC6.016% 03/02/20340.1%
Seadrill Finance Ltd8.375% 08/01/20300.1%
GS Mortgage Securities Corp Trust 2021-ROSS9.986% 05/15/20260.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
Intesa Sanpaolo SpA4.198% 06/01/20320.1%
Topaz Solar Farms LLC5.750% 09/30/20390.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Macquarie Group Ltd2.691% 06/23/20320.1%
Santander Consumer Auto Receivables Trust 2021-A5.790% 08/15/20280.1%
UniCredit SpA5.459% 06/30/20350.1%
HPLY Trust 2019-HIT6.336% 11/15/20360.1%
Mountain View CLO 2017-1 LLC6.660% 10/16/20290.1%
KeyCorp4.789% 06/01/20330.1%
COMM 2015-PC1 Mortgage Trust4.289% 07/10/20500.1%
BBCMS 2019-BWAY Mortgage Trust6.946% 11/15/20340.1%
Catalent Pharma Solutions Inc7.406% 02/22/20280.1%
Mariner Finance Issuance Trust 2021-B4.680% 11/20/20360.1%
Vital Energy Inc7.750% 07/31/20290.1%
Assurant Inc2.650% 01/15/20320.1%
Western Alliance Bancorp3.000% 06/15/20310.1%
McCormick & Co Inc/MD4.950% 04/15/20330.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Macquarie Bank Ltd4.875% 06/10/20250.1%
Beacon Roofing Supply Inc6.500% 08/01/20300.1%
JPMBB Commercial Mortgage Securities Trust 2015-C304.227% 07/15/20480.0%
JFIN CLO 2013 Ltd6.978% 01/20/20300.0%
Morgan Stanley4.431% 01/23/20300.0%
Leidos Holdings Inc5.950% 12/01/20400.0%
US 5YR NOTE (CBT) Sep230.000% 10/04/20230.0%
SPX FLOW Inc8.750% 04/01/20300.0%
RESORTS WORLD LAS VEGAS LLC6.932% 04/16/20240.0%
Galaxy XXI CLO Ltd6.608% 04/20/20310.0%
LPL Holdings Inc6.963% 11/12/20260.0%
Perimeter Master Note Business Trust4.230% 05/15/20240.0%
US 10YR NOTE (CBT)Sep230.000% 09/29/20230.0%
Avolon Holdings Funding Ltd2.750% 02/21/20280.0%
Wells Fargo Commercial Mortgage Trust 2013-LC124.195% 07/15/20460.0%
GS Mortgage Securities Trust 2015-GS10.179% 11/10/20480.0%
CPI Swap0.010% 02/10/20280.0%
CPI Swap0.010% 03/24/20280.0%
CPI Swap0.010% 03/24/20280.0%
CPI Swap0.010% 01/15/20240.0%
Government National Mortgage Association0.381% 07/16/20540.0%
FX USD/CAD 11/230.000% 11/20/20230.0%
Hudsons Bay Simon JV Trust 2015-HBS0.493% 08/05/20340.0%
Hudsons Bay Simon JV Trust 2015-HBS0.541% 08/05/20340.0%
CPI Swap0.010% 07/15/20250.0%
CPI Swap0.010% 07/15/20240.0%
OGX Austria GmbH8.500% 06/01/20180.0%
US LONG BOND(CBT) Sep230.000% 09/29/2023-0.1%
US ULTRA BOND CBT Sep230.000% 09/29/2023-0.2%
US 2YR NOTE (CBT) Sep230.000% 10/04/2023-0.3%

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 09/28/2023
$0.07760
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 08/31/2023 $0.01010 $2.38
Daily Daily 07/31/2023 $0.00996 $2.41
Daily Daily 06/30/2023 $0.00987 $2.40
Daily Daily 05/31/2023 $0.00977 $2.41
Daily Daily 04/30/2023 $0.00984 $2.45
Daily Daily 03/31/2023 $0.00979 $2.44
Daily Daily 02/28/2023 $0.00917 $2.39
Daily Daily 01/31/2023 $0.00910 $2.47

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 09/30/2023
Daily Daily 10/31/2023
Daily Daily 11/30/2023
Daily Daily 12/31/2023

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. 

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 09/28/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $2.36
$100,000 to $249,999 1.75% 1.50% $2.35
$250,000 to $499,999 1.25% 1.00% $2.34
$500,000 to $999,999 0.00% 1.00% $2.31
$1,000,000 to $5,000,000 0.00% 1.00% $2.31

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers View Full Disclosure

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

  • Rights of Accumulation - A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.

  • Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

  • purchases of $1 million or more (may be subject to a CDSC);
  • purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
  • purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
  • purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
  • certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

 

Expense Ratioas of 08/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.75% 0.75%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
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

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

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.

 

2

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

3

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 A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, 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% if the shares are redeemed 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 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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