Income Fund

LAGVX

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Daily price w/o sales charge as of 04/03/2020

$2.60

$0.01

YTD Returns w/o sales charge as of 04/03/2020

-9.76%

Please click here for performance current to the most recent quarter-end and month-end.

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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 04/03/2020

w/o sales charge	4.34%
w/ sales charge	4.24%

30-Day Standardized Yield ² as of 02/29/2020

2.61%

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

Expense Ratioas of 02/29/2020

Fund Basicsas of 02/28/2020

Total Net Assets: $2.89 B
Inception Date: 09/19/1932*
Dividend Frequency: Monthly (Daily Accrual)
Number of Holdings: 675
Minimum Initial Investment: $1,500+

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

Fund Expense Ratio :

0.77%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 01/01/1982

w/o sales charge	-9.10%	-2.43%	1.43%	2.02%	4.52%	7.40%
Lipper Category Avg. Corporate Debt Funds BBB-Rated	-	-	-	-	-	-
Bloomberg Barclays U.S. Credit Bond Index	-3.14%	5.10%	4.19%	3.28%	4.75%	8.46%
w/ sales charge	-11.24%	-4.49%	0.72%	1.53%	4.29%	7.33%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

0.77%

Fund Expense Ratio :

0.77%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 01/01/1982

w/o sales charge	-9.10%	-2.43%	1.43%	2.02%	4.52%	7.40%
Lipper Category Avg. Corporate Debt Funds BBB-Rated	-	-	-	-	-	-
Bloomberg Barclays U.S. Credit Bond Index	-3.14%	5.10%	4.19%	3.28%	4.75%	8.46%
w/ sales charge	-11.24%	-4.49%	0.72%	1.53%	4.29%	7.33%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

0.77%

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
ABS
Bank Loans
Sovereign
CMBS
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 02/28/2020 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, CFA

Partner & Portfolio Manager

21 Years of Industry Experience

Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Yoana N. Koleva, CFA

Managing Director & Portfolio Manager

16 Years of Industry Experience

Eric P. Kang

Portfolio Manager

20 Years of Industry Experience

Supported By 62 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Dividend Yield ¹ as of 04/03/2020

w/o sales charge	4.34%
w/ sales charge	4.24%

30-Day Standardized Yield ² as of 02/29/2020

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	2.61%	2.61%

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

Fund Expense Ratio :

0.77%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 01/01/1982

w/o sales charge	-9.10%	-2.43%	1.43%	2.02%	4.52%	7.40%
Lipper Category Avg. Corporate Debt Funds BBB-Rated	-	-	-	-	-	-
Bloomberg Barclays U.S. Credit Bond Index	-3.14%	5.10%	4.19%	3.28%	4.75%	8.46%
w/ sales charge	-11.24%	-4.49%	0.72%	1.53%	4.29%	7.33%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

0.77%

Fund Expense Ratio :

0.77%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 01/01/1982

w/o sales charge	-9.10%	-2.43%	1.43%	2.02%	4.52%	7.40%
Lipper Category Avg. Corporate Debt Funds BBB-Rated	-	-	-	-	-	-
Bloomberg Barclays U.S. Credit Bond Index	-3.14%	5.10%	4.19%	3.28%	4.75%	8.46%
w/ sales charge	-11.24%	-4.49%	0.72%	1.53%	4.29%	7.33%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

0.77%

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

Year	Fund Returns	Bloomberg Barclays U.S. Credit Bond Index

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%	9.37%
2011	6.55%	8.35%
2010	10.84%	8.47%
2009	30.23%	-
2008	-10.16%	-
2007	6.17%	-
2006	3.58%	-
2005	2.23%	-
2004	3.81%	-
2003	1.58%	-
2002	9.81%	-
2001	6.91%	-
2000	11.36%	-

Year	Q1	Q2	Q3	Q4	Yearly Returns

2020	-9.10%	-	-	-	-9.74%
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 02/29/2020

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

Type	Assets
Investment Grade Corporate
High Yield Corporate
U.S. Government Related
ABS
Bank Loans
Sovereign
CMBS
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 02/28/2020

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

Portfolio Positioning as of 12/31/2019

While the financials sector continues to be the largest absolute position, we reduced the portfolio’s exposure during the fourth quarter, specifically taking down the portfolio’s allocation to financial companies located within the U.K. and Europe. As the market has begun to come to terms with ‘Brexit,’ we were able to capitalize on favorable trades.
We increased the portfolio’s exposure to high yield corporate bonds, primarily focusing on opportunities within the energy sector. We are attracted to high yield corporate bonds within the energy sector that have seen significant spread widening during the quarter. We increased the portfolio’s allocation to take advantage of the relative value opportunities and potential spread compression in the upcoming months.
Although we still generally consider the consumer, non-cyclicals sector to be fairly valued and faced with event risks, we have identified select opportunities that led to a reduction in the portfolio’s notable underweight. Within the consumer, non-cyclicals sector, we increased the portfolio’s allocation to a few health care and pharmaceutical names, taking advantage of idiosyncratic opportunities that we found attractive.
Relative to the benchmark, the portfolio is overweight the utilities sector. We continue 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.

Portfolio Details as of 02/28/2020

Total Net Assets: $2.89 B
Number of Issues: 675
Average Coupon: 4.61%
Average Life: 8.99 Years
Average Maturity: 8.99 Years
Average Effective Duration: 6.7 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	1.125%	02/28/2025	4.0%
U.S. Treasury Note/Bond	1.500%	02/15/2030	2.1%
Verizon Communications, Inc.	3.010%	05/15/2025	1.3%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl	4.700%	02/01/2036	1.3%
Japan Treasury Discount Bill	0.000%	04/13/2020	1.2%
AbbVie, Inc.	4.250%	11/21/2049	1.0%
U.S. Treasury Note/Bond	1.375%	01/31/2022	1.0%
CVS Caremark Corp.	4.300%	03/25/2028	0.8%
AT&T, Inc.	3.312%	06/12/2024	0.8%
Time Warner Cable LLC	7.300%	07/01/2038	0.8%

% of Total Assets			14.3%

Holding	Coupon	Maturity	Assets

U.S. Treasury Note/Bond	1.125%	02/28/2025	4.0%
U.S. Treasury Note/Bond	1.500%	02/15/2030	2.1%
Verizon Communications, Inc.	3.010%	05/15/2025	1.3%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl	4.700%	02/01/2036	1.3%
Japan Treasury Discount Bill	0.000%	04/13/2020	1.2%
AbbVie, Inc.	4.250%	11/21/2049	1.0%
U.S. Treasury Note/Bond	1.375%	01/31/2022	1.0%
CVS Caremark Corp.	4.300%	03/25/2028	0.8%
AT&T, Inc.	3.312%	06/12/2024	0.8%
Time Warner Cable LLC	7.300%	07/01/2038	0.8%
AT&T, Inc.	6.000%	08/15/2040	0.7%
General Motors Co.	6.750%	04/01/2046	0.7%
General Electric Co.	5.000%	12/31/2099	0.6%
PSEG Power LLC	8.625%	04/15/2031	0.6%
BAT Capital Corp	4.390%	08/15/2037	0.6%
Ford Motor Co.	7.450%	07/16/2031	0.6%
NBCUniversal Enterprise, Inc.	5.250%	06/19/2099	0.5%
UBS AG Registered Shares	5.125%	05/15/2024	0.5%
Goldman Sachs Group, Inc.	6.750%	10/01/2037	0.5%
ENI SpA	5.700%	10/01/2040	0.5%
Cox Communications, Inc.	8.375%	03/01/2039	0.5%
Helmerich & Payne, Inc.	4.650%	03/15/2025	0.5%
CVS Caremark Corp.	4.780%	03/25/2038	0.5%
Universal Health Services, Inc.	4.750%	08/01/2022	0.5%
Valero Energy Corp.	10.500%	03/15/2039	0.5%
U.S. Treasury Note	0.500%	04/15/2024	0.5%
Danske Bank A/S	5.375%	01/12/2024	0.5%
Bank of Ireland Group PLC	4.125%	09/19/2027	0.5%
U.S. Treasury Note/Bond	2.000%	02/15/2050	0.5%
Las Vegas Sands Corp.	3.900%	08/08/2029	0.4%
Dell International LLC / EMC Corp.	8.350%	07/15/2046	0.4%
EPR Properties	4.950%	04/15/2028	0.4%
Bacardi Ltd.	4.700%	05/15/2028	0.4%
NGPL Pipeco LLC	4.875%	08/15/2027	0.4%
National Australia Bank Ltd.	3.933%	08/02/2034	0.4%
Ovintiv Inc	0.000%	03/26/2020	0.4%
Nvent Finance Sarl	4.550%	04/15/2028	0.4%
Energy Transfer Partners L.P.	0.000%	03/04/2020	0.4%
RPI Finance Trust	0.000%	02/07/2025	0.4%
Sabine Pass Liquefaction LLC	5.625%	04/15/2023	0.4%
Bermuda Government International Bond	3.717%	01/25/2027	0.4%
Ally Financial, Inc.	8.000%	11/01/2031	0.4%
Patterson-UTI Energy, Inc.	3.950%	02/01/2028	0.4%
Royal Caribbean Cruises Ltd.	7.500%	10/15/2027	0.4%
Bank of America Corp.	4.450%	03/03/2026	0.4%
Wells Fargo Capital X	5.950%	12/15/2036	0.4%
Catholic Health Initiatives	3.347%	10/01/2029	0.4%
Williams Cos., Inc.	8.750%	03/15/2032	0.4%
Suncor Energy, Inc.	7.875%	06/15/2026	0.4%
Aircastle Ltd.	4.250%	06/15/2026	0.4%
NRG Energy, Inc.	4.450%	06/15/2029	0.4%
Alimentation Couche-Tard, Inc.	2.950%	01/25/2030	0.4%
Continental Resources, Inc.	5.000%	09/15/2022	0.4%
Macquarie Group Ltd.	4.654%	03/27/2029	0.4%
Smithfield Foods, Inc.	5.200%	04/01/2029	0.3%
Enbridge Energy Partners L.P.	7.500%	04/15/2038	0.3%
Altria Group, Inc.	5.950%	02/14/2049	0.3%
BAT International Finance plc	0.000%	03/25/2020	0.3%
Boeing Co	0.000%	02/06/2022	0.3%
Bank of America Corp.	3.824%	01/20/2028	0.3%
Teachers Insurance & Annuity Association of Americ	4.900%	09/15/2044	0.3%
UBS AG	7.625%	08/17/2022	0.3%
Sabine Pass Liquefaction LLC	5.875%	06/30/2026	0.3%
Baidu, Inc.	3.875%	09/29/2023	0.3%
CNH Capital LLC	4.375%	04/05/2022	0.3%
Oglethorpe Power Corp.	5.950%	11/01/2039	0.3%
FirstEnergy Transmission LLC	4.550%	04/01/2049	0.3%
Apache Corp.	5.100%	09/01/2040	0.3%
HCA, Inc.	5.125%	06/15/2039	0.3%
Canadian Natural Resources Ltd.	7.200%	01/15/2032	0.3%
TransAlta Corp.	4.500%	11/15/2022	0.3%
HCA, Inc.	5.500%	06/15/2047	0.3%
VEREIT Operating Partnership L.P.	4.875%	06/01/2026	0.3%
Park Aerospace Holdings Ltd	5.500%	02/15/2024	0.3%
MPLX L.P.	5.250%	01/15/2025	0.3%
General Electric Co.	6.150%	08/07/2037	0.3%
Leidos, Inc.	7.125%	07/01/2032	0.3%
Freeport-McMoRan, Inc.	5.450%	03/15/2043	0.3%
Hess Corp.	5.800%	04/01/2047	0.3%
Protective Life Corp.	8.450%	10/15/2039	0.3%
Ausgrid Finance Pty Ltd	4.350%	08/01/2028	0.3%
New York and Presbyterian Hospital/The	3.954%	08/01/2119	0.3%
CNO Financial Group, Inc.	5.250%	05/30/2025	0.3%
DPL, Inc.	4.350%	04/15/2029	0.3%
Navient Corp.	6.750%	06/25/2025	0.3%
Discover Bank	4.682%	08/09/2028	0.3%
Dell International LLC / EMC Corp	6.020%	06/15/2026	0.3%
Burlington Northern Santa Fe LLC	5.750%	05/01/2040	0.3%
Dollar Tree, Inc.	4.200%	05/15/2028	0.3%
Wabtec Corp.	4.700%	09/15/2028	0.3%
Fresenius Medical Care US Finance II, Inc.	5.875%	01/31/2022	0.3%
MPLX L.P.	3.202%	09/09/2022	0.3%
CNAC HK Finbridge Co Ltd	4.125%	07/19/2027	0.3%
ZF North America Capital, Inc.	4.750%	04/29/2025	0.3%
Santander UK plc	7.950%	10/26/2029	0.3%
Cheniere Corpus Christi Holdings LLC	7.000%	06/30/2024	0.3%
Kayne CLO 7 Ltd	0.000%	04/17/2033	0.3%
Centene Corp.	4.625%	12/15/2029	0.3%
Trimble Navigation Ltd.	4.900%	06/15/2028	0.3%
Walgreen Co.	3.800%	11/18/2024	0.3%
Carnival plc	7.875%	06/01/2027	0.3%
AerCap Ireland Capital Ltd.	3.500%	01/15/2025	0.3%
National Fuel Gas Co.	3.750%	03/01/2023	0.3%
Aon plc	8.205%	01/01/2027	0.3%
SOUND POINT CLO XVII	3.419%	10/20/2030	0.3%
Anglo American Capital plc	4.750%	04/10/2027	0.2%
JBS USA LUX SA / JBS USA Food Co / JBS USA Finance	6.500%	04/15/2029	0.2%
Imperial Tobacco Finance plc	3.875%	07/26/2029	0.2%
Global Atlantic Fin Co	4.400%	10/15/2029	0.2%
Universal Health Services, Inc.	5.000%	06/01/2026	0.2%
Bank of Montreal	3.803%	12/15/2032	0.2%
Federal Home Loan Mortgage Corp.	4.000%	10/01/2049	0.2%
PVH Corp.	7.750%	11/15/2023	0.2%
Emera, Inc.	6.750%	06/15/2076	0.2%
Netflix, Inc.	3.625%	05/15/2027	0.2%
Consolidated Communications	4.610%	10/05/2023	0.2%
Emera US Finance L.P.	4.750%	06/15/2046	0.2%
Broadcom Inc	0.000%	03/24/2020	0.2%
American Airlines Class B Pass Through Trust	4.375%	10/01/2022	0.2%
Sabine Pass Liquefaction LLC	5.750%	05/15/2024	0.2%
Time Warner Entertainment Co. L.P.	8.375%	07/15/2033	0.2%
American Axle & Manufacturing, Inc.	3.880%	04/06/2024	0.2%
Shackleton 2019-XIV Clo Ltd	3.719%	07/20/2030	0.2%
Playtika Holding Corp	7.603%	12/03/2024	0.2%
BX Commercial Mortgage Trust 2019-XL	3.109%	10/15/2036	0.2%
Fox Corp	5.476%	01/25/2039	0.2%
Occidental Petroleum Corp.	7.875%	09/15/2031	0.2%
Glencore Finance Canada Ltd.	5.550%	10/25/2042	0.2%
Hilcorp Energy L.P. / Hilcorp Finance Co.	6.250%	11/01/2028	0.2%
Sprint Communications, Inc.	4.125%	02/02/2024	0.2%
Cleco Power LLC	6.000%	12/01/2040	0.2%
Elanco Animal Health Incorporated	3.404%	02/04/2027	0.2%
WOW! (Wide Open West)	4.889%	08/18/2023	0.2%
Neuberger Berman Group LLC	4.875%	04/15/2045	0.2%
Wyndham Hotels & Resorts	3.972%	03/28/2025	0.2%
Citigroup, Inc.	2.666%	01/29/2031	0.2%
Halliburton Co.	7.450%	09/15/2039	0.2%
Kinross Gold Corp.	4.500%	07/15/2027	0.2%
BX Commercial Mortgage Trust 2019-XL	3.659%	10/15/2036	0.2%
Fresenius Medical Care US Finance II, Inc.	4.750%	10/15/2024	0.2%
El Paso Electric Co.	5.000%	12/01/2044	0.2%
Kansas City Southern	4.200%	11/15/2069	0.2%
Selective Insurance Group, Inc.	5.375%	03/01/2049	0.2%
Midwest Connector Capital Co LLC	3.900%	04/01/2024	0.2%
Owens Corning	4.300%	07/15/2047	0.2%
Assurant, Inc.	3.700%	02/22/2030	0.2%
Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.875%	01/15/2027	0.2%
American Homes 4 Rent LP	4.250%	02/15/2028	0.2%
Brixmor Operating Partnership L.P.	3.850%	02/01/2025	0.2%
AutoNation, Inc.	0.000%	03/02/2020	0.2%
Equinix, Inc.	5.375%	05/15/2027	0.2%
Citigroup, Inc.	3.668%	07/24/2028	0.2%
ALM VII Ltd	3.681%	07/15/2029	0.2%
Dominion Resources, Inc.	7.000%	06/15/2038	0.2%
Mount Sinai Hospitals Group Inc	3.737%	07/01/2049	0.2%
Cleco Corp.	4.973%	05/01/2046	0.2%
Bayer US Finance II LLC	4.375%	12/15/2028	0.2%
U.S. Treasury Note/Bond	1.125%	02/28/2022	0.2%
BX Commercial Mortgage Trust 2019-XL	3.459%	10/15/2036	0.2%
Bayer US Finance II LLC	3.875%	12/15/2023	0.2%
Webster Financial Corp.	4.100%	03/25/2029	0.2%
Enel Finance International N.V.	2.750%	04/06/2023	0.2%
GATX Corp.	4.550%	11/07/2028	0.2%
Northwell Healthcare, Inc.	3.979%	11/01/2046	0.2%
SL Green Operating Partnership L.P.	3.250%	10/15/2022	0.2%
JB y Co SA de CV	3.750%	05/13/2025	0.2%
Tencent Holdings Ltd.	3.595%	01/19/2028	0.2%
Steel Dynamics, Inc.	5.000%	12/15/2026	0.2%
SCANA Corp.	4.125%	02/01/2022	0.2%
Lloyds Bank plc	6.500%	09/14/2020	0.2%
Air Medical Group Holdings, Inc.	4.932%	04/28/2022	0.2%
AerCap Ireland Capital Ltd.	3.875%	01/23/2028	0.2%
National Oilwell Varco, Inc.	3.950%	12/01/2042	0.2%
Cimarex Energy Co.	4.375%	03/15/2029	0.2%
Tenneco, Inc.	5.000%	07/15/2026	0.2%
Weyerhaeuser Co.	8.500%	01/15/2025	0.2%
Owens Corning	7.000%	12/01/2036	0.2%
Schaeffler Verwaltung Zwei GmbH	4.750%	09/15/2026	0.2%
Hanover Insurance Group, Inc.	4.500%	04/15/2026	0.2%
E*TRADE Financial Corp.	5.875%	12/31/2099	0.2%
NextEra Energy Capital Holdings, Inc.	2.630%	02/25/2022	0.2%
Bank of America Corp.	2.559%	10/01/2021	0.2%
Venture XXIV CLO Ltd	3.869%	10/20/2028	0.2%
LYB Americas Finance Co	3.445%	03/29/2022	0.2%
Puget Energy, Inc.	3.650%	05/15/2025	0.2%
Allegany Park CLO Ltd	5.536%	01/20/2033	0.2%
BlueMountain CLO 2016-1 Ltd	3.169%	04/20/2027	0.2%
AI Aqua Merger Sub, Inc.	0.000%	12/13/2023	0.2%
Government National Mortgage Association	2.600%	06/16/2057	0.2%
Baidu, Inc.	3.625%	07/06/2027	0.2%
Bayer Corp	6.650%	02/15/2028	0.2%
Marble Point CLO XVII Ltd	0.000%	04/20/2033	0.2%
Bahamas Government International Bond	6.950%	11/20/2029	0.2%
Spirit AeroSystems, Inc.	4.600%	06/15/2028	0.2%
Phosagro OAO via Phosagro Bond Funding Ltd	3.949%	04/24/2023	0.2%
Radian Group, Inc.	4.875%	03/15/2027	0.2%
Hardee's Funding LLC	4.959%	06/20/2048	0.2%
Berry Petroleum Co.	7.000%	02/15/2026	0.2%
National Oilwell Varco, Inc.	3.600%	12/01/2029	0.2%
Kaisa Group Holdings Ltd.	9.375%	06/30/2024	0.2%
Hudson Pacific Properties LP	4.650%	04/01/2029	0.2%
Hess Corp.	5.600%	02/15/2041	0.2%
Cigna Corp	6.125%	11/15/2041	0.2%
Panera Bread Company	3.375%	07/18/2022	0.2%
Neuberger Berman Group LLC	4.500%	03/15/2027	0.2%
Enbridge, Inc.	6.000%	01/15/2077	0.2%
Geo Group, Inc.	6.000%	04/15/2026	0.2%
Origin Energy Finance Ltd.	5.450%	10/14/2021	0.2%
Centennial Resource Production LLC	6.875%	04/01/2027	0.2%
Southern Copper Corp.	5.250%	11/08/2042	0.2%
Stanley Black & Decker, Inc.	4.000%	03/15/2060	0.2%
Macquarie Bank Ltd.	6.625%	04/07/2021	0.2%
PFP 2019-6 Ltd	3.750%	04/14/2037	0.2%
Equinix, Inc.	5.875%	01/15/2026	0.2%
Viking Cruises Ltd.	5.875%	09/15/2027	0.2%
Continental Resources, Inc.	4.900%	06/01/2044	0.2%
Exelon Generation Co. LLC	5.750%	10/01/2041	0.2%
BBVA Bancomer SA	5.125%	01/18/2033	0.2%
Mountain View CLO 2017-1 LLC	0.000%	10/16/2029	0.2%
American Airlines Class B Pass Through Trust	5.600%	07/15/2020	0.2%
Navient Corp.	5.000%	03/15/2027	0.2%
Garda World Security Corp	4.625%	02/15/2027	0.2%
World Financial Network Credit Card Master Trust	2.030%	04/15/2025	0.2%
Centene Corp.	3.375%	02/15/2030	0.2%
Exelon Generation Co. LLC	6.250%	10/01/2039	0.2%
Nationstar Mortgage Holdings, Inc.	9.125%	07/15/2026	0.2%
Octagon Investment Partners 29 Ltd	0.000%	01/24/2033	0.2%
PPL WEM Ltd./Western Power Distribution Ltd.	5.375%	05/01/2021	0.2%
NiSource, Inc.	5.950%	06/15/2041	0.1%
Energy Transfer Partners L.P.	0.000%	03/16/2020	0.1%
Oasis Petroleum, Inc.	6.875%	03/15/2022	0.1%
Octagon Investment Partners 30 Ltd	3.519%	03/17/2030	0.1%
Brightsphere Investment Group Inc	4.800%	07/27/2026	0.1%
Kennametal, Inc.	4.625%	06/15/2028	0.1%
Zimmer Biomet Holdings, Inc.	5.750%	11/30/2039	0.1%
Energy Transfer Partners L.P.	0.000%	03/03/2020	0.1%
Flagship Credit Auto Trust 2019-1	4.080%	02/18/2025	0.1%
Royal Caribbean Cruises Ltd.	5.250%	11/15/2022	0.1%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor	4.080%	12/15/2047	0.1%
Mississippi Power Co.	4.250%	03/15/2042	0.1%
Royal Caribbean Cruises Ltd.	0.000%	03/23/2020	0.1%
Weibo Corp.	3.500%	07/05/2024	0.1%
Cheniere Corpus Christi Holdings LLC	5.125%	06/30/2027	0.1%
Front Range BidCo Inc	4.000%	03/01/2027	0.1%
Airxcel, Inc.	6.103%	04/28/2025	0.1%
TIBCO Software, Inc.	11.375%	12/01/2021	0.1%
BCPE Cycle Merger Sub II Inc	10.625%	07/15/2027	0.1%
National Fuel Gas Co.	4.900%	12/01/2021	0.1%
Spectra Energy Partners L.P.	2.827%	06/05/2020	0.1%
Hardee's Funding LLC	5.710%	06/20/2048	0.1%
Buckeye Partners L.P.	6.375%	01/22/2078	0.1%
American Airlines Class B Pass Through Trust	5.625%	01/15/2021	0.1%
Veritas	6.158%	01/27/2023	0.1%
CVS Caremark Corp.	5.050%	03/25/2048	0.1%
Brand Energy & Infrastructure Services Inc	8.500%	07/15/2025	0.1%
Anglo American Capital plc	4.500%	03/15/2028	0.1%
Energy Transfer Partners L.P.	0.000%	03/06/2020	0.1%
Lincoln National Corp.	7.000%	06/15/2040	0.1%
BNP Paribas S.A.	4.500%	02/25/2170	0.1%
BBCMS 2019-BWAY Mortgage Trust	3.269%	11/25/2034	0.1%
Solera Finance, Inc.	10.500%	03/01/2024	0.1%
Vulcan Materials Co.	2.557%	03/01/2021	0.1%
Avolon Holdings Funding Ltd	5.125%	10/01/2023	0.1%
Range Resources Corp.	5.000%	03/15/2023	0.1%
BSPRT 2018-FL4 Issuer Ltd	2.708%	09/15/2035	0.1%
Sempra Energy	4.000%	02/01/2048	0.1%
Unum Group	5.750%	08/15/2042	0.1%
Healthcare Trust of America Holdings LP	3.100%	02/15/2030	0.1%
Calpine Corp.	5.500%	02/01/2024	0.1%
American Axle & Manufacturing, Inc.	6.500%	04/01/2027	0.1%
Aviation Capital Group Corp.	0.000%	03/16/2020	0.1%
Spirit Realty LP	3.400%	01/15/2030	0.1%
Citigroup, Inc.	3.887%	01/10/2028	0.1%
Carlisle Cos., Inc.	2.750%	03/01/2030	0.1%
CSMC 2020-AFC1 Trust	2.240%	02/25/2050	0.1%
SM Energy Co.	6.625%	01/15/2027	0.1%
KKR CLO 18 Ltd	3.527%	07/18/2030	0.1%
Lincoln National Corp.	6.300%	10/09/2037	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.790%	01/20/2022	0.1%
Appalachian Power Co.	7.000%	04/01/2038	0.1%
World Financial Network Credit Card Master Trust	2.660%	08/15/2024	0.1%
Chobani LLC / Chobani Finance Corp Inc	7.500%	04/15/2025	0.1%
Foursight Capital Automobile Receivables Trust 201	4.190%	11/15/2023	0.1%
Jamestown CLO IX Ltd	4.469%	10/20/2028	0.1%
Duke Energy Corp.	4.200%	06/15/2049	0.1%
Madison Park Funding XXXVI Ltd	3.750%	01/15/2033	0.1%
Exelon Generation Co. LLC	5.600%	06/15/2042	0.1%
Westpac Banking Corp.	4.322%	11/23/2031	0.1%
DTE Energy Co.	6.375%	04/15/2033	0.1%
MPLX L.P.	6.875%	12/31/2099	0.1%
Centene Corp.	5.375%	06/01/2026	0.1%
Duqesne Light Holdings, Inc.	6.250%	08/15/2035	0.1%
Country Garden Holdings Co. Ltd.	4.750%	09/28/2023	0.1%
Crown Castle International Corp.	0.000%	03/06/2020	0.1%
Flextronics International Ltd.	0.000%	03/03/2020	0.1%
Westpac Banking Corp.	4.110%	07/24/2034	0.1%
Energy Transfer Operating LP	5.875%	01/15/2024	0.1%
Signature Aviation US Holdings Inc	4.000%	03/01/2028	0.1%
Keurig Dr Pepper Inc.	3.495%	02/08/2023	0.1%
Provident Funding Associates L.P. / PFG Finance Co	6.375%	06/15/2025	0.1%
Enel Finance International N.V.	4.250%	09/14/2023	0.1%
MEG Energy Corp.	7.000%	03/31/2024	0.1%
CEOC, LLC (aka Caesars Entertainment Operating Company)	4.093%	10/07/2024	0.1%
Barclays Bank plc	10.179%	06/12/2021	0.1%
E*TRADE Financial Corp.	4.500%	06/20/2028	0.1%
Silversea Cruise Finance Ltd.	7.250%	02/01/2025	0.1%
Interstate Power & Light Co	3.500%	09/30/2049	0.1%
Century Communities, Inc.	5.875%	07/15/2025	0.1%
Valeant Pharmaceuticals International, Inc.	6.125%	04/15/2025	0.1%
Imperial Tobacco Finance plc	3.125%	07/26/2024	0.1%
CNH Capital LLC	4.875%	04/01/2021	0.1%
GCI LLC	6.875%	04/15/2025	0.1%
Nissan Motor Acceptance Corp.	2.651%	09/28/2022	0.1%
Northwoods Capital 20 Ltd	6.151%	01/25/2030	0.1%
Resorts World Las Vegas LLC	0.000%	04/16/2024	0.1%
Stericycle Inc	0.000%	11/17/2022	0.1%
Ford Motor Co	3.335%	12/31/2022	0.1%
AerCap Ireland Capital Ltd.	4.875%	01/16/2024	0.1%
Perimeter Master Note Business Trust	4.230%	05/15/2024	0.1%
BWAY Holding Co.	7.250%	04/15/2025	0.1%
National Fuel Gas Co.	3.950%	09/15/2027	0.1%
Waste Pro USA Inc	5.500%	02/15/2026	0.1%
VMC Finance 2019-FL3 LLC	2.758%	09/15/2036	0.1%
US Cellular Corp.	6.700%	12/15/2033	0.1%
Palmer Square Loan Funding 2018-1 Ltd	2.431%	04/15/2026	0.1%
Panther BF Aggregator 2 LP / Panther Finance Co In	8.500%	05/15/2027	0.1%
F-Brasile SpA / F-Brasile US LLC	7.375%	08/15/2026	0.1%
Bill Barrett Corp.	7.000%	10/15/2022	0.1%
Hecla Mining Co.	7.250%	02/15/2028	0.1%
Endeavor Energy Resources L.P.	5.750%	01/30/2028	0.1%
ION Trading Technologies S.A.R.L.	6.064%	11/21/2024	0.1%
Conn's Receivables Funding 2017-B LLC	5.950%	11/15/2022	0.1%
Sabal Trail Transmission LLC	4.246%	05/01/2028	0.1%
Hadrian Merger Sub Inc	8.500%	05/01/2026	0.1%
Laredo Petroleum Holdings, Inc.	10.125%	01/15/2028	0.1%
Planet Fitness Master Issuer LLC	3.858%	12/05/2049	0.1%
WeWork Cos Inc	7.875%	05/01/2025	0.1%
CP VI Bella Midco, LLC	4.353%	12/27/2024	0.1%
Kilroy Realty L.P.	4.375%	10/01/2025	0.1%
North Texas Tollway Auth	8.410%	02/01/2030	0.1%
Sophia LP / Sophia Finance, Inc.	9.000%	09/30/2023	0.1%
Verus Securitization Trust 2020-1	2.417%	01/25/2060	0.1%
Elevation CLO 2014-2 Ltd	5.031%	10/15/2029	0.1%
Energy Transfer Operating LP	9.000%	11/01/2024	0.1%
Forterra, Inc.	4.603%	10/25/2023	0.1%
BAT International Finance plc	0.000%	03/26/2020	0.1%
Great Wolf Trust 2019-WOLF	4.391%	12/15/2036	0.1%
Cleveland Electric Illuminating Co.	3.500%	04/01/2028	0.1%
CenterPoint Energy, Inc.	0.000%	03/02/2020	0.1%
Adient Global Holdings Ltd.	4.875%	08/15/2026	0.1%
Seven Generations Energy Ltd.	6.875%	06/30/2023	0.1%
Viper Energy Partners LP	5.375%	11/01/2027	0.1%
Hunt Cos Inc	6.250%	02/15/2026	0.1%
Callon Petroleum Co.	6.375%	07/01/2026	0.1%
Northwoods Capital 20 Ltd	4.701%	01/25/2030	0.1%
Starfruit Finco BV / Starfruit US Holdco LLC	8.000%	10/01/2026	0.1%
CPS Auto Trust	4.610%	12/15/2022	0.1%
Diebold, Inc.	8.500%	04/15/2024	0.1%
SCANA Corp.	4.750%	05/15/2021	0.1%
Scientific Games International, Inc.	6.625%	05/15/2021	0.1%
U.S. Treasury Note/Bond	3.625%	08/15/2043	0.1%
Cheniere Corpus Christi Holdings LLC	3.700%	11/15/2029	0.1%
Acadia Healthcare Co., Inc.	5.625%	02/15/2023	0.1%
Itron, Inc.	5.000%	01/15/2026	0.1%
Wabash National Corp.	5.500%	10/01/2025	0.1%
AbbVie, Inc.	4.875%	11/14/2048	0.1%
SURA Asset Management SA	4.375%	04/11/2027	0.1%
Cedar Funding VI CLO Ltd	3.419%	10/20/2028	0.1%
Acwa Power Management And Investments One Ltd	5.950%	12/15/2039	0.1%
Interstate Power & Light Co	3.600%	04/01/2029	0.1%
Citigroup, Inc.	4.600%	03/09/2026	0.1%
Scientific Games International, Inc.	7.250%	11/15/2029	0.1%
Gulfstream Natural Gas System LLC	4.600%	09/15/2025	0.1%
Starwood Mortgage Residential Trust 2020-1	2.275%	02/25/2050	0.1%
Freeport-McMoRan, Inc.	4.250%	03/01/2030	0.1%
KazMunayGas National Co.	6.375%	10/24/2048	0.1%
Shea Homes LP / Shea Homes Funding Corp.	4.750%	02/15/2028	0.1%
BMW Vehicle Lease Trust 2019-1	2.790%	03/22/2021	0.1%
Mountain View CLO X Ltd	3.198%	10/13/2027	0.1%
MediArena Acquisition B.V. (fka AP NMT Acquisition B.V.)	7.659%	08/13/2021	0.1%
Deephaven Residential Mortgage Trust 2020-1	2.339%	01/25/2060	0.1%
AMMC CLO XIV Ltd	3.494%	07/25/2029	0.1%
Yum! Brands, Inc.	6.875%	11/15/2037	0.1%
Newell Rubbermaid, Inc.	3.850%	04/01/2023	0.1%
Freeport-McMoRan, Inc.	5.250%	09/01/2029	0.1%
Wells Fargo Commercial Mortgage Trust 2017-C41	3.785%	11/15/2050	0.1%
Capitol Investment Merger Sub 2 LLC	10.000%	08/01/2024	0.1%
Adani Transmission Ltd	4.000%	08/03/2026	0.1%
Valmont Industries, Inc.	5.250%	10/01/2054	0.1%
Syngenta Wilmington, Inc.	0.000%	04/06/2020	0.1%
Southern California Edison Co.	0.000%	03/02/2020	0.1%
Illinois, IL	5.100%	06/01/2033	0.1%
Williams Scotsman International Inc	7.875%	12/15/2022	0.1%
Government National Mortgage Association	2.700%	07/16/2057	0.1%
Banco Mercantil del Norte SA/Grand Cayman	7.625%	07/06/2167	0.1%
Northrop Grumman Systems Corp.	7.750%	02/15/2031	0.1%
AbbVie, Inc.	4.700%	05/14/2045	0.1%
Nielsen Finance LLC (VNU, Inc.)	3.831%	10/04/2023	0.1%
Titan International, Inc.	6.500%	11/30/2023	0.1%
Global Aircraft Leasing Co Ltd	6.500%	09/15/2024	0.1%
Syngenta Wilmington, Inc.	0.000%	06/02/2020	0.1%
Walgreen Co.	0.000%	07/24/2020	0.1%
Ford Motor Credit Co. LLC	5.584%	03/18/2024	0.1%
Sound Point Clo XV Ltd	4.306%	01/23/2029	0.1%
EPR Properties	4.500%	04/01/2025	0.1%
Granite US Holdings Corp	11.000%	10/01/2027	0.1%
Callon Petroleum Co.	6.250%	04/15/2023	0.1%
Oztel Holdings SPC Ltd	6.625%	04/24/2028	0.1%
Citizens Financial Group, Inc.	4.150%	09/28/2022	0.1%
MHP Lux SA	6.950%	04/03/2026	0.1%
Uber Technologies Inc	7.500%	11/01/2023	0.1%
Madison Park Funding XXXVI Ltd	2.600%	01/15/2033	0.1%
Scientific Games International, Inc.	4.366%	08/14/2024	0.1%
Parsley Energy LLC	6.250%	06/01/2024	0.1%
Air Canada 2015-2 Class B Pass Through Trust	5.000%	12/15/2023	0.1%
Bahamas Government International Bond	6.000%	11/21/2028	0.1%
Mohegan Tribal Gaming Authority	7.875%	10/15/2024	0.1%
Wells Fargo Commercial Mortgage Trust	4.285%	07/15/2046	0.1%
Marathon Petroleum Corp.	5.375%	10/01/2022	0.1%
Government National Mortgage Association	2.750%	02/16/2058	0.1%
Macquarie Bank Ltd.	4.875%	06/10/2025	0.1%
Nationstar Mortgage Holdings, Inc.	6.000%	01/15/2027	0.1%
Ford Motor Credit Co. LLC	5.113%	05/03/2029	0.1%
Jamestown CLO VII Ltd.	3.094%	07/25/2027	0.1%
MPLX L.P.	6.250%	10/15/2022	0.1%
ZF North America Capital, Inc.	4.000%	04/29/2020	0.1%
Minejesa Capital BV	5.625%	08/10/2037	0.1%
QEP Resources, Inc.	6.875%	03/01/2021	0.1%
Salem Fields CLO Ltd 2016-2	3.494%	10/25/2028	0.1%
Florida Power & Light Co.	2.308%	05/06/2022	0.1%
CARLYLE US CLO 2019-4 LTD	5.878%	01/15/2033	0.1%
CenturyLink, Inc.	3.624%	01/28/2025	0.1%
Broadcom Inc	2.916%	11/04/2024	0.1%
HPS Loan Management 10-2016 Ltd	3.569%	01/20/2028	0.1%
Texas Eastern Transmission L.P.	4.125%	12/01/2020	0.1%
Charter Communications Operating LLC	6.484%	10/23/2045	0.1%
Hayward Acquisition Corp.	5.103%	08/05/2024	0.1%
Martin Marietta Materials, Inc.	2.549%	05/22/2020	0.1%
China Evergrande Group	10.000%	04/11/2023	0.1%
Benefit Street Partners Clo XII Ltd	4.881%	10/15/2030	0.1%
Canadian Pacific Railway Co.	7.125%	10/15/2031	0.1%
COMM Mortgage Trust	4.435%	07/10/2050	0.1%
Synchrony Credit Card Master Note Trust	2.820%	10/15/2025	0.1%
New York St Electric & Gas Corp.	3.300%	09/15/2049	0.1%
Yingde Gases Investment Ltd	6.250%	01/19/2023	0.1%
YPF S.A.	6.950%	07/21/2027	0.1%
QEP Resources, Inc.	5.375%	10/01/2022	0.1%
Regatta VI Funding Ltd	3.869%	07/20/2028	0.1%
Matador Resources Co.	5.875%	09/15/2026	0.1%
Spirit Realty LP	4.000%	07/15/2029	0.1%
Arrow Electronics, Inc.	0.000%	03/03/2020	0.1%
Turkiye Vakiflar Bankasi Tao	5.750%	01/30/2023	0.1%
VA Electric & Power Co.	8.875%	11/15/2038	0.1%
Eldorado Resorts, Inc.	6.000%	09/15/2026	0.1%
U.S. Treasury Note/Bond	2.750%	11/15/2047	0.1%
JPMBB Commercial Mortgage Securities Trust	4.269%	07/15/2048	0.1%
Nissan Motor Acceptance Corp.	2.414%	03/15/2021	0.1%
Crown Castle International Corp.	0.000%	03/03/2020	0.1%
AT&T, Inc.	2.875%	02/18/2170	0.1%
GCAT 2019-NQM2 Trust	2.247%	01/25/2060	0.1%
MEG Energy Corp.	7.125%	02/01/2027	0.1%
SL Green Realty Corp.	4.500%	12/01/2022	0.1%
Government National Mortgage Association	2.600%	07/16/2058	0.1%
Glencore Funding LLC	4.125%	05/30/2023	0.1%
Vedanta Resources plc	6.125%	08/09/2024	0.1%
Stericycle Inc	3.269%	11/17/2022	0.1%
Forestar Group, Inc.	5.000%	03/01/2028	0.1%
Palmer Square Loan Funding 2018-1 Ltd	2.881%	04/15/2026	0.1%
SAIC, Inc.	5.950%	12/01/2040	0.1%
E*TRADE Financial Corp.	3.800%	08/24/2027	0.1%
Bank Leumi Le-Israel BM	3.275%	01/29/2031	0.1%
Front Range BidCo Inc	6.125%	03/01/2028	0.1%
Angel Oak Mortgage Trust 2020-1	2.466%	12/25/2059	0.1%
Southern Star Central Corp.	5.125%	07/15/2022	0.1%
Benefit Street Partners CLO XIX Ltd	5.648%	01/15/2033	0.1%
Range Resources Corp.	5.000%	08/15/2022	0.1%
CPG Merger Sub LLC	8.000%	10/01/2021	0.1%
MidOcean Credit CLO VI	3.719%	01/20/2029	0.1%
PVH Corp.	0.000%	05/19/2020	0.1%
Prosus NV	3.680%	01/21/2030	0.1%
MediArena Acquisition B.V. (fka AP NMT Acquisition B.V.)	10.908%	08/13/2022	0.0%
New Residential Mortgage Loan Trust 2020-NQM1	2.464%	01/26/2060	0.0%
Syngenta Finance NV	4.441%	04/24/2023	0.0%
EagleView Technology Corporation	5.113%	08/14/2025	0.0%
BWay Holding Company	5.084%	04/03/2024	0.0%
OHA Loan Funding Ltd.	4.342%	11/15/2032	0.0%
Glencore Funding LLC	0.000%	04/20/2020	0.0%
MEG Energy Corp.	6.500%	01/15/2025	0.0%
Valeant Pharmaceuticals International, Inc.	5.000%	01/30/2028	0.0%
Broadcom Inc	0.000%	03/10/2020	0.0%
COMM 2016-COR1 Mortgage Trust	3.494%	10/10/2049	0.0%
Crown Castle International Corp.	0.000%	03/10/2020	0.0%
Calpine Corp.	5.750%	01/15/2025	0.0%
Regatta XVI Funding Ltd	5.803%	01/15/2033	0.0%
Neuberger Berman Loan Advisers CLO 35 Ltd	5.603%	01/19/2033	0.0%
Thacher Park CLO Ltd.	2.979%	10/20/2026	0.0%
BAT International Finance plc	0.000%	03/23/2020	0.0%
Southwestern Public Svc Co.	4.500%	08/15/2041	0.0%
BlueMountain CLO 2013-1 Ltd	3.569%	01/20/2029	0.0%
BAT International Finance plc	0.000%	04/03/2020	0.0%
Avery Point CLO Ltd.	3.394%	04/25/2026	0.0%
General Motors Financial Co., Inc.	0.000%	04/24/2020	0.0%
BAE Systems Finance Inc	7.500%	07/01/2027	0.0%
Macquarie Bank Ltd./London	6.125%	03/08/2167	0.0%
Regatta XVI Funding Ltd	4.603%	01/15/2033	0.0%
Palmer Square Loan Funding 2018-1 Ltd	3.231%	04/15/2026	0.0%
Duqesne Light Holdings, Inc.	6.400%	09/15/2020	0.0%
Aroundtown SA	5.375%	03/21/2029	0.0%
Genesys Telecommunications Laboratories Inc/Greene	10.000%	11/30/2024	0.0%
Molson Coors Brewing Co.	0.000%	03/02/2020	0.0%
Lockheed Martin Corp.	7.750%	05/01/2026	0.0%
Illinois, IL	4.950%	06/01/2023	0.0%
Broadcom Inc	0.000%	03/18/2020	0.0%
Doncasters US Finance LLC (Doncasters US LLC)	5.445%	04/09/2020	0.0%
Enterprise Development Authority/The	12.000%	07/15/2024	0.0%
Mountain Hawk III CLO Ltd.	3.019%	04/18/2025	0.0%
Citigroup, Inc.	5.950%	12/31/2099	0.0%
Oglethorpe Power Corp.	4.200%	12/01/2042	0.0%
Bowman Park CLO Ltd.	2.863%	11/23/2025	0.0%
Rede D'or Finance Sarl	4.950%	01/17/2028	0.0%
California Republic Auto Receivables Trust 2015-4	3.730%	11/15/2021	0.0%
Royal Caribbean Cruises Ltd.	3.700%	03/15/2028	0.0%
Compass Bank	3.875%	04/10/2025	0.0%
Carrier Global Corp	3.577%	04/05/2050	0.0%
Turkiye Vakiflar Bankasi Tao	5.625%	05/30/2022	0.0%
FirstEnergy Transmission LLC	4.350%	01/15/2025	0.0%
GS Mortgage Securities Trust	4.427%	07/10/2048	0.0%
Royal Caribbean Cruises Ltd.	0.000%	03/26/2020	0.0%
Aviation Capital Group Corp.	0.000%	03/24/2020	0.0%
Smithfield Foods, Inc.	0.000%	03/09/2020	0.0%
Crown Castle International Corp.	0.000%	03/17/2020	0.0%
Benefit Street Partners CLO XIX Ltd	4.448%	01/15/2033	0.0%
Aviation Capital Group Corp.	0.000%	03/12/2020	0.0%
ZF North America Capital, Inc.	4.500%	04/29/2022	0.0%
Joseph T Ryerson & Son, Inc.	11.000%	05/15/2022	0.0%
Financial & Risk US Hold	5.815%	10/01/2025	0.0%
General Electric Co.	2.271%	05/05/2026	0.0%
Boral Finance Pty Ltd	3.000%	11/01/2022	0.0%
MHP Lux SA	6.250%	09/19/2029	0.0%
Residential Mortgage Loan Trust 2020-1	2.376%	02/25/2024	0.0%
Chaparral Energy, Inc.	8.750%	07/15/2023	0.0%
Galaxy XXI CLO Ltd	2.839%	04/20/2031	0.0%
Cent CLO Ltd.	3.105%	10/29/2025	0.0%
Builders FirstSource, Inc.	5.000%	03/01/2030	0.0%
Danske Bank A/S	4.375%	06/12/2028	0.0%
Invitation Homes, Inc.	3.589%	02/06/2022	0.0%
Smithfield Foods, Inc.	3.350%	02/01/2022	0.0%
DRB Prime Student Loan Trust	3.200%	01/25/2040	0.0%
Viking Cruises Ltd.	6.250%	05/15/2025	0.0%
NOVA Chemicals Corp.	5.250%	08/01/2023	0.0%
Broadcom Inc	0.000%	03/26/2020	0.0%
Navios South American Logistics Inc / Navios Logis	7.250%	05/01/2022	0.0%
Palmer Square Loan Funding 2018-5 Ltd	3.219%	01/20/2027	0.0%
Aston Martin Capital Holdings Ltd	6.500%	04/15/2022	0.0%
ACC Trust 2018-1	4.820%	05/20/2021	0.0%
Newell Rubbermaid, Inc.	0.000%	03/04/2020	0.0%
CIFC Funding 2019-VI Ltd	5.885%	01/16/2033	0.0%
Aviation Capital Group Corp.	0.000%	03/27/2020	0.0%
Studio City Co Ltd	7.250%	11/30/2021	0.0%
American Airlines Group, Inc.	3.750%	03/01/2025	0.0%
Enterprise Fleet Financing LLC	2.870%	10/20/2023	0.0%
SM Energy Co.	6.125%	11/15/2022	0.0%
Halcyon Loan Advisors Funding Ltd.	3.944%	07/25/2027	0.0%
ACC Trust 2018-1	6.810%	02/21/2023	0.0%
Aviation Capital Group Corp.	0.000%	03/02/2020	0.0%
General Motors Financial Co., Inc.	0.000%	03/23/2020	0.0%
Country Garden Holdings Co. Ltd.	4.750%	01/17/2023	0.0%
Apex Credit CLO 2017 Ltd	3.751%	04/24/2029	0.0%
Glencore Funding LLC	3.000%	10/27/2022	0.0%
GS Mortgage Securities Trust	1.418%	06/10/2046	0.0%
CSX Corporation, Inc.	7.875%	05/15/2043	0.0%
BAT Capital Corp	3.557%	08/15/2027	0.0%
Callon Petroleum Co.	6.125%	10/01/2024	0.0%
Apex Credit CLO 2016 Ltd	3.644%	10/27/2028	0.0%
GS Mortgage Securities Trust	0.518%	06/10/2046	0.0%
Illinois, IL	5.520%	04/01/2038	0.0%
Santander Drive Auto Receivables Trust 2016-1	4.020%	04/15/2022	0.0%
Motion Bondco DAC	6.625%	11/15/2027	0.0%
Lockheed Martin Tactical Systems Inc	7.625%	06/15/2025	0.0%
Apidos CLO XVI	4.819%	01/19/2025	0.0%
Metropolitan Edison Co.	4.000%	04/15/2025	0.0%
SCF Equipment Leasing 2017-2 LLC	3.410%	12/20/2023	0.0%
Avis Budget Rental Car Funding	2.630%	12/20/2021	0.0%
Glencore Finance Canada Ltd.	4.250%	10/25/2022	0.0%
Callon Petroleum Co.	8.250%	07/15/2025	0.0%
General Motors Financial Co., Inc.	4.250%	05/15/2023	0.0%
UTEX Industries	8.853%	05/22/2022	0.0%
Broadcom Inc	0.000%	03/05/2020	0.0%
Ovintiv Inc	0.000%	04/01/2020	0.0%
Syngenta Wilmington, Inc.	0.000%	05/29/2020	0.0%
SCANA Corp.	6.250%	04/01/2020	0.0%
Eldorado Resorts, Inc.	4.553%	04/17/2024	0.0%
Triumph Group, Inc.	5.250%	06/01/2022	0.0%
Drive Auto Receivables Trust	4.180%	03/15/2024	0.0%
Drive Auto Receivables Trust 2019-2	2.930%	03/15/2022	0.0%
PG&E Corp	5.029%	12/31/2020	0.0%
UTEX Industries	5.603%	05/22/2021	0.0%
El Paso Electric Co.	6.000%	05/15/2035	0.0%
Canadian Pacific Railway Co.	9.450%	08/01/2021	0.0%
Merrill Lynch Mortgage Investors Trust Series	6.250%	10/25/2036	0.0%
National Fuel Gas Co.	0.000%	03/03/2020	0.0%
Government National Mortgage Association	0.623%	07/16/2054	0.0%
Hudsons Bay Simon JV Trust	0.541%	08/05/2034	0.0%
Valeant Pharmaceuticals International, Inc.	7.000%	03/15/2024	0.0%
Avery Point CLO Ltd.	2.816%	07/17/2026	0.0%
EnCana Corp.	0.000%	04/09/2020	0.0%
Kinetic Concepts, Inc. / KCI USA, Inc.	12.500%	11/01/2021	0.0%
Anheuser-Busch InBev Worldwide, Inc.	8.200%	01/15/2039	0.0%
Leidos, Inc.	5.500%	07/01/2033	0.0%
Piedmont Natural Gas Co., Inc.	3.640%	11/01/2046	0.0%
MPH Acquisition Holdings LLC	4.695%	06/07/2023	0.0%
Seneca Park CLO Ltd.	2.956%	07/17/2026	0.0%
Valero Energy Corp.	7.500%	04/15/2032	0.0%
Hyundai Capital America	0.000%	03/02/2020	0.0%
GS Mortgage Securities Trust	0.182%	11/10/2048	0.0%
William Lyon Homes, Inc.	7.000%	08/15/2022	0.0%
WFRBS Commercial Mortgage Trust	0.961%	05/15/2047	0.0%
Public Service Co. of New Mexico	3.850%	08/01/2025	0.0%
Broadcom Inc	0.000%	03/12/2020	0.0%
Cigna Corp	4.800%	07/15/2046	0.0%
General Electric Co.	3.375%	03/11/2024	0.0%
Sequoia Mortgage Trust 2012-4	2.069%	09/25/2042	0.0%
Aviation Capital Group Corp.	0.000%	03/13/2020	0.0%
Interstate Power & Light Co	4.700%	10/15/2043	0.0%
Smithfield Foods, Inc.	0.000%	04/22/2020	0.0%
Hudsons Bay Simon JV Trust	0.493%	08/05/2034	0.0%
Pentair Finance SA	4.500%	07/01/2029	0.0%
Suncor Energy Ventures Corp	4.500%	04/01/2022	0.0%
Doncasters US Finance LLC (Doncasters US LLC)	10.195%	10/09/2020	0.0%
Diamond Resorts Owner Trust	3.080%	11/20/2028	0.0%
Centene Corp.	6.125%	02/15/2024	0.0%
FX USD/EUR 03/20	0.000%	03/09/2020	0.0%
JPMBB Commercial Mortgage Securities Trust	0.750%	04/15/2047	0.0%
WFRBS Commercial Mortgage Trust	0.572%	05/15/2047	0.0%
OneMain Financial Issuance Trust 2016-1A	3.660%	02/20/2029	0.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp	9.750%	06/01/2022	0.0%
Chaparral Energy, Inc.	0.000%	-	0.0%
JPMBB Commercial Mortgage Securities Trust	0.284%	04/15/2047	0.0%
Afren plc	10.250%	04/08/2022	0.0%
Federal Home Loan Mortgage Corp.	0.000%	08/15/2022	0.0%
Templar Energy LLC	0.000%	-	0.0%
Afren plc	6.625%	12/09/2020	0.0%
EURO-SCHATZ FUT MAR20	0.000%	03/10/2020	0.0%
Federal Home Loan Mortgage Corp.	544.714%	12/15/2020	0.0%
Federal Home Loan Mortgage Corp.	1185.497%	09/15/2021	0.0%
Federal Home Loan Mortgage Corp.	982.654%	04/15/2022	0.0%
Federal Home Loan Mortgage Corp.	1195.607%	04/15/2021	0.0%
Federal Home Loan Mortgage Corp.	1007.780%	05/15/2021	0.0%
Federal Home Loan Mortgage Corp.	1008.400%	11/15/2021	0.0%
Federal Home Loan Mortgage Corp.	0.000%	10/15/2021	0.0%
Federal Home Loan Mortgage Corp.	0.000%	06/15/2021	0.0%
Federal Home Loan Mortgage Corp.	0.000%	07/01/2022	0.0%
Federal Home Loan Mortgage Corp.	0.000%	09/15/2022	0.0%
Federal Home Loan Mortgage Corp.	1007.000%	02/15/2022	0.0%
Federal Home Loan Mortgage Corp.	1008.500%	04/15/2021	0.0%
Federal Home Loan Mortgage Corp.	1009.000%	02/15/2021	0.0%
Federal Home Loan Mortgage Corp.	409.000%	04/15/2021	0.0%
Federal Home Loan Mortgage Corp.	900.950%	12/15/2020	0.0%
Federal National Mortgage Assoc.	0.000%	04/25/2022	0.0%
Federal National Mortgage Assoc.	9.500%	08/25/2021	0.0%
Federal National Mortgage Assoc.	1008.000%	12/25/2021	0.0%
OGX Austria GmbH	8.500%	06/01/2019	0.0%
Templar Energy LLC	0.000%	-	0.0%
US 10YR NOTE (CBT)JUN20	0.000%	06/30/2020	0.0%
US 10YR ULTRA FUT JUN20	0.000%	06/30/2020	0.0%
US LONG BOND(CBT) JUN20	0.000%	06/30/2020	0.0%
US ULTRA BOND CBT JUN20	0.000%	06/30/2020	0.0%
US 2YR NOTE (CBT) JUN20	0.000%	07/06/2020	0.0%
US 5YR NOTE (CBT) JUN20	0.000%	07/06/2020	0.0%
FX USD/EUR 03/20	0.000%	03/09/2020	0.0%
Commercial Mortgage Backed Index Swap	0.350%	10/17/2057	0.0%
Commercial Mortgage Backed Index Swap	0.350%	10/17/2057	0.0%
Commercial Mortgage Backed Index Swap	0.350%	10/17/2057	0.0%
Credit Index Swap	5.000%	12/20/2024	0.0%
FX USD/JPY 04/20	0.000%	04/13/2020	0.0%

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

Dividend Payments

For

YTD Dividends Paidas of 04/03/2020: $0.027
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	03/31/2020	$0.00940	$2.62
Daily	Daily	02/29/2020	$0.00876	$2.97
Daily	Daily	01/31/2020	$0.00896	$2.96

Upcoming Dividend Payment Dates

Record Date	Ex-Dividend Date	Reinvest & Payable Date
Daily	Daily	04/30/2020
Daily	Daily	05/31/2020
Daily	Daily	06/30/2020
Daily	Daily	07/31/2020
Daily	Daily	08/31/2020
Daily	Daily	09/30/2020
Daily	Daily	10/31/2020
Daily	Daily	11/30/2020
Daily	Daily	12/31/2020

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
12/17/2020	12/18/2020

Fees & Expenses

Sales Charge Schedule as of 04/03/2020

	Sales Charge	Dealer's Concession	Prices at Breakpoint
Less than $100,000	2.25%	2.00%	$2.66
$100,000 to $249,999	1.75%	1.50%	$2.65
$250,000 to $499,999	1.25%	1.00%	$2.63
$500,000 to $999,999	0.00%	1.00%	$2.60
$1,000,000 to $5,000,000	0.00%	1.00%	$2.60

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 Click here.

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 may combine the value of Class A, B, C, F, and P shares of any eligible fund currently owned with a new purchase of Class A shares of any eligible fund in order to reduce the sales charge on the new purchase. Class I, R2, and R3 share holdings may not be combined for these purposes.

To the extent that your financial intermediary is able to do so, the value of Class A, B, C, F, and P shares of eligible funds determined for the purpose of reducing the sales charge of a new purchase under the Rights of Accumulation will be calculated at the higher of: 1) the aggregate current maximum offering price of your existing Class A, B, C, F, and P shares of eligible funds or 2) the aggregate amount you invested in such shares (including dividend reinvestments but excluding capital appreciation) less any withdrawals. You should retain any information and account records necessary to substantiate the historical amounts you and any related purchasers have invested in eligible funds. You must inform a fund and/or your financial intermediary at the time of purchase if you believe your purchase qualifies for a reduced sales charge; you may be requested to provide documentation of your holdings in order to verify your eligibility. If you do not do so, you may not receive all sales charge reductions for which you are eligible.
Letter of Intention — In order to reduce your Class A front-end sales charge, a purchaser may combine purchases of Class A, B, C, F, and P shares of any eligible fund the purchaser intends to make over the next 13 months in determining the applicable sales charge. The 13-month Letter of Intention period commences on the day that the Letter of Intention is received by a fund, and the purchaser must tell a fund that later purchases are subject to the Letter of Intention. Purchases submitted prior to the date the Letter of Intention is received by a fund are not counted toward the sales charge reduction. Current holdings under Rights of Accumulation may be included in a Letter of Intention in order to reduce the sales charge for purchases during the 13-month period covered by the Letter of Intention. Shares purchased through reinvestment of dividends or distributions are not included. Class I, R2, and R3 share holdings may not be combined for these purposes. Class A shares valued at 5% of the amount of intended purchases are escrowed and may be redeemed to cover the additional sales charges payable if the intended purchases under the Letter of Intention is not completed. The Letter of Intention is neither a binding obligation on you to buy nor on a fund to sell any or all of an intended purchase amount.

Purchaser — A purchaser includes: 1) an individual; 2) an individual, his or her spouse, and children under the age of 21; 3) retirement and benefit plans, including a 401(k) plan, profit-sharing plan, money purchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, nonprofit organization, school district, or church to which employer contributions are made, as well as SIMPLE IRA plans and SEP-IRA plans; or 4) a trustee or other fiduciary purchasing shares for a single trust, estate, or single fiduciary account. An individual may include under item (1) his or her holdings in eligible funds as described above in IRAs, as a sole participant of a retirement and benefit plan sponsored by the individual's business, and as a participant in a 403(b) plan to which only pretax salary deferrals are made. An individual and his or her spouse may include under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit plans sponsored 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 single bank 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 02/29/2020

Fund Documents

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	Summary Prospectus Publish Date:11/03/2015
n/a	Statutory Prospectus Publish Date:11/03/2015
n/a	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
	Fund Story Publish Date:11/03/2015
	Fixed Income Combo Flyer Publish Date:11/03/2015

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^*Barron’s Top Fund Families of 2019, February 14, 2020, #5 in the Taxable Bond Category among 55 fund families. Based on the net total return of the one−year period ending 12/31/2019. #14 Overall ranking among 55 qualifying fund families based on the net total return of the one-year period ending 12/31/2019. Five-year Overall ranking is #30 out of 52 fund families; 10-year Overall ranking is #33 out of 45 fund families.

Source: Barron’s, “Barron’s Top Fund Families of 2019,” February 14, 2020. Barron’s rankings are based on asset weighted returns in funds in five categories: U.S. equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2019, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2019 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well. Barron's Fund Family Rankings are awarded annually.

© Reuters 2020. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

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.

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.

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.

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.

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.

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

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.

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.

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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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

BUILT ON INTENSIVE RESEARCH

IDENTIFY INCOME

Yield

Dividend Yield 1 as of 04/03/2020

30-Day Standardized Yield 2 as of 02/29/2020

Expense Ratioas of 02/29/2020

Fund Basicsas of 02/28/2020

Fund Expense Ratio :

0.77%

Fund Expense Ratio :

0.77%

Fund Expense Ratio :

0.77%

Fund Expense Ratio :

0.77%

Credit Quality Distribution as of 02/28/2020 View Portfolio

INVESTMENT TEAM

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Performance

Performance

Dividend Yield 1 as of 04/03/2020

30-Day Standardized Yield 2 as of 02/29/2020

Fund Expense Ratio :

0.77%

Fund Expense Ratio :

0.77%

Fund Expense Ratio :

0.77%

Fund Expense Ratio :

0.77%

Growth of $10,000 as of 02/29/2020

NAV Historical Prices

Portfolio

Portfolio

Credit Quality Distribution as of 02/28/2020

Portfolio Positioning as of 12/31/2019

Portfolio Details as of 02/28/2020

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Upcoming Dividend Payment Dates

Capital Gains Distributions

Upcoming Capital Gain Distribution

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 04/03/2020

Dividend Yield ¹ as of 04/03/2020

30-Day Standardized Yield ² as of 02/29/2020

Dividend Yield ¹ as of 04/03/2020

30-Day Standardized Yield ² as of 02/29/2020