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 05/26/2023

$2.39

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YTD Returns w/o sales charge as of 05/26/2023

2.34%

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

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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

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 05/26/2023  

w/o sales charge 4.94%
w/ sales charge 4.82%

30-Day Standardized Yield 2 as of 04/30/2023  

4.94%

Average Yield to Worst as of 04/28/2023

5.9%

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

Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.

Fund Basicsas of 04/28/2023

Total Net Assets
$2.88 B
Inception Date
09/19/1932*
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.75%
Fund Net Expense Ratio
0.75%
Number of Holdings
313
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 4.55% -1.49% 0.31% 1.66% 2.25% 6.98%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 4.32% -0.50% -1.92% 1.64% 1.88% -
Bloomberg U.S. Credit Bond Index 4.26% 0.72% -1.92% 1.88% 2.08% 7.77%
w/ sales charge 2.40% -3.71% -0.41% 1.22% 2.02% 6.93%

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 3.71% -6.32% 1.78% 1.35% 2.34% 6.98%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 3.59% -6.26% -0.54% 1.32% 1.99% -
Bloomberg U.S. Credit Bond Index 3.45% -5.31% -0.70% 1.54% 2.18% 7.76%
w/ sales charge 1.57% -8.34% 1.02% 0.92% 2.11% 6.92%

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

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

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

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

Credit Quality Distribution as of 04/28/2023 View Portfolio

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

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

INVESTMENT TEAM

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner & Portfolio Manager

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

Dividend Yield 1 as of 05/26/2023  

w/o sales charge 4.94%
w/ sales charge 4.82%

30-Day Standardized Yield 2 as of 04/30/2023  

  Subsidized5 Un-Subsidized6
w/o sales charge 4.94% 4.94%

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 4.55% -1.49% 0.31% 1.66% 2.25% 6.98%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 4.32% -0.50% -1.92% 1.64% 1.88% -
Bloomberg U.S. Credit Bond Index 4.26% 0.72% -1.92% 1.88% 2.08% 7.77%
w/ sales charge 2.40% -3.71% -0.41% 1.22% 2.02% 6.93%

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 3.71% -6.32% 1.78% 1.35% 2.34% 6.98%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 3.59% -6.26% -0.54% 1.32% 1.99% -
Bloomberg U.S. Credit Bond Index 3.45% -5.31% -0.70% 1.54% 2.18% 7.76%
w/ sales charge 1.57% -8.34% 1.02% 0.92% 2.11% 6.92%

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% - - - -
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 03/31/2023

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

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

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

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

Credit Quality Distribution as of 04/28/2023

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

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

Portfolio Details as of 04/28/2023

Total Net Assets
$2.88 B
Number of Issues
313
Average Coupon
4.82%
Average Life
8.16 Years
Average Maturity
8.15 Years
Average Effective Duration
6.85 Years
Average Yield to Worst
5.9%

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.

Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.

Holding Coupon Maturity Assets
United States Treasury Note/Bond 3.625% 02/15/2053 1.6%
Sprint Capital Corp 6.875% 11/15/2028 1.5%
United States Treasury Inflation Indexed Bonds 0.250% 01/15/2025 1.2%
JPMorgan Chase & Co 4.912% 07/25/2033 1.2%
AT&T Inc 3.500% 09/15/2053 1.1%
BAT Capital Corp 7.750% 10/19/2032 1.1%
Bank of America Corp 2.687% 04/22/2032 1.1%
Continental Resources Inc/OK 5.750% 01/15/2031 1.0%
Netflix Inc 5.375% 11/15/2029 1.0%
Centene Corp 3.375% 02/15/2030 1.0%
% of Total Assets 11.8%
Holding Coupon Maturity Assets
Sprint Capital Corp6.875% 11/15/20281.5%
United States Treasury Note/Bond3.625% 02/15/20531.4%
United States Treasury Inflation Indexed Bonds0.250% 01/15/20251.2%
JPMorgan Chase & Co4.912% 07/25/20331.2%
AT&T Inc3.500% 09/15/20531.2%
BAT Capital Corp7.750% 10/19/20321.2%
Bank of America Corp2.687% 04/22/20321.1%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc4.700% 02/01/20361.1%
Continental Resources Inc/OK5.750% 01/15/20311.0%
Netflix Inc5.375% 11/15/20291.0%
Centene Corp3.375% 02/15/20301.0%
VICI Properties LP / VICI Note Co Inc4.625% 06/15/20250.9%
Toronto-Dominion Bank/The4.456% 06/08/20320.9%
Philip Morris International Inc5.625% 11/17/20290.9%
Crown Castle Inc3.300% 07/01/20300.8%
Goldman Sachs Group Inc/The2.383% 07/21/20320.8%
GE HealthCare Technologies Inc5.650% 11/15/20270.8%
Southwest Gas Corp4.050% 03/15/20320.8%
Humana Inc3.700% 03/23/20290.7%
CVS Health Corp5.625% 02/21/20530.7%
Pacific Gas and Electric Co4.550% 07/01/20300.7%
TORONTO DOMINION BANK THE0.010% 04/03/20230.7%
NGPL PipeCo LLC4.875% 08/15/20270.7%
Puget Energy Inc4.100% 06/15/20300.7%
Lowe's Cos Inc5.000% 04/15/20330.7%
Broadcom Inc4.150% 04/15/20320.7%
Workday Inc3.800% 04/01/20320.7%
State of Illinois5.100% 06/01/20330.7%
Regal Rexnord Corp6.300% 02/15/20300.7%
American Tower Corp3.800% 08/15/20290.7%
Kellogg Co5.250% 03/01/20330.7%
Comision Federal de Electricidad4.688% 05/15/20290.6%
JT International Financial Services BV6.875% 10/24/20320.6%
Jabil Inc0.000% 04/03/20230.6%
Vistra Operations Co LLC3.550% 07/15/20240.6%
Imperial Brands Finance PLC6.125% 07/27/20270.6%
EQT Corp7.000% 02/01/20300.6%
Amazon.com Inc4.700% 12/01/20320.6%
Cargill Inc4.000% 06/22/20320.6%
Global Payments Inc5.300% 08/15/20290.6%
Texas Natural Gas Securitization Finance Corp5.169% 04/01/20410.6%
Cigna Group/The4.375% 10/15/20280.6%
Viterra Finance BV3.200% 04/21/20310.6%
Citigroup Inc2.561% 05/01/20320.6%
Amgen Inc5.250% 03/02/20330.5%
Avolon Holdings Funding Ltd4.250% 04/15/20260.5%
Toyota Motor Credit Corp4.700% 01/12/20330.5%
Citigroup Inc4.910% 05/24/20330.5%
Oracle Corp5.375% 07/15/20400.5%
Antero Resources Corp5.375% 03/01/20300.5%
Fluor Corp4.250% 09/15/20280.5%
Norfolk Southern Corp4.450% 03/01/20330.5%
Patterson-UTI Energy Inc5.150% 11/15/20290.5%
American Electric Power Co Inc5.625% 03/01/20330.5%
Morgan Stanley6.342% 10/18/20330.5%
Haleon US Capital LLC3.625% 03/24/20320.5%
Duke Energy Corp4.500% 08/15/20320.5%
UBS AG5.125% 05/15/20240.5%
American Express Co4.989% 05/26/20330.5%
ServiceNow Inc1.400% 09/01/20300.5%
US Bancorp4.839% 02/01/20340.5%
State Street Corp4.164% 08/04/20330.5%
Wells Fargo & Co3.350% 03/02/20330.5%
NRG Energy Inc4.450% 06/15/20290.5%
Hilton Worldwide Finance LLC6.642% 06/22/20260.5%
Celanese US Holdings LLC5.900% 07/05/20240.5%
International Flavors & Fragrances Inc1.230% 10/01/20250.5%
nVent Finance Sarl4.550% 04/15/20280.5%
Oracle Corp6.125% 07/08/20390.5%
Bayer Corp/NJ6.650% 02/15/20280.5%
F&G Annuities & Life Inc7.400% 01/13/20280.5%
Humana Inc5.875% 03/01/20330.4%
Amgen Inc4.050% 08/18/20290.4%
Danske Bank A/S5.375% 01/12/20240.4%
Duquesne Light Holdings Inc2.775% 01/07/20320.4%
Earthstone Energy Holdings LLC8.000% 04/15/20270.4%
Oracle Corp6.250% 11/09/20320.4%
Crescent Energy Finance LLC7.250% 05/01/20260.4%
DTE Energy Co2.950% 03/01/20300.4%
IPALCO Enterprises Inc4.250% 05/01/20300.4%
T-Mobile USA Inc3.875% 04/15/20300.4%
AbbVie Inc3.200% 11/21/20290.4%
Amgen Inc4.875% 03/01/20530.4%
Fairstone Financial Issuance Trust I5.162% 10/20/20390.4%
CVS Health Corp5.050% 03/25/20480.4%
Southern Co/The2.700% 08/01/20240.4%
Octane Receivables Trust 2022-25.850% 07/20/20280.4%
Eni SpA5.700% 10/01/20400.4%
Booz Allen Hamilton Inc3.875% 09/01/20280.4%
Jacobs Engineering Group Inc5.900% 03/01/20330.4%
JPMorgan Chase & Co2.963% 01/25/20330.4%
Charter Communications Operating LLC6.557% 04/30/20250.4%
Brown & Brown Inc4.200% 03/17/20320.4%
US ULTRA BOND CBT Jun230.000% 06/30/20230.4%
Alcoa Nederland Holding BV4.125% 03/31/20290.4%
Minejesa Capital BV4.625% 08/10/20300.4%
Avis Budget Rental Car Funding AESOP LLC3.710% 08/20/20270.4%
CVS Health Corp4.780% 03/25/20380.4%
Alcon Finance Corp5.375% 12/06/20320.4%
AEP Transmission Co LLC5.400% 03/15/20530.4%
Elevance Health Inc2.250% 05/15/20300.4%
Louisville Gas and Electric Co5.450% 04/15/20330.4%
New York Life Global Funding4.550% 01/28/20330.4%
Oklahoma Gas and Electric Co5.600% 04/01/20530.4%
Oglethorpe Power Corp5.950% 11/01/20390.4%
Virginia Electric and Power Co5.450% 04/01/20530.4%
Public Service Co of Colorado5.250% 04/01/20530.4%
Constellation Energy Generation LLC5.800% 03/01/20330.4%
Sitios Latinoamerica SAB de CV5.375% 04/04/20320.4%
NatWest Group PLC6.016% 03/02/20340.4%
Callon Petroleum Co8.000% 08/01/20280.4%
Intercontinental Exchange Inc4.350% 06/15/20290.4%
Avolon Holdings Funding Ltd3.950% 07/01/20240.4%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.4%
Aircastle Ltd2.850% 01/26/20280.4%
Madison Park Funding XVII Ltd6.315% 07/21/20300.4%
MSCI Inc3.625% 11/01/20310.3%
Credit Suisse Group AG6.373% 07/15/20260.3%
Wells Fargo & Co4.897% 07/25/20330.3%
AT&T Inc4.300% 02/15/20300.3%
National Australia Bank Ltd3.933% 08/02/20340.3%
Elevance Health Inc4.100% 05/15/20320.3%
Danske Bank A/S3.773% 03/28/20250.3%
US Bancorp4.967% 07/22/20330.3%
California Resources Corp7.125% 02/01/20260.3%
Vermilion Energy Inc6.875% 05/01/20300.3%
Global Payments Inc0.000% 04/03/20230.3%
Permian Resources Operating LLC6.875% 04/01/20270.3%
Spire Missouri Inc4.800% 02/15/20330.3%
Atlantica Sustainable Infrastructure PLC4.125% 06/15/20280.3%
Vital Energy Inc10.125% 01/15/20280.3%
Romark CLO Ltd6.465% 10/23/20300.3%
Liberty Utilities Finance GP 12.050% 09/15/20300.3%
Diamondback Energy Inc3.125% 03/24/20310.3%
Assurant Inc3.700% 02/22/20300.3%
BankUnited Inc5.125% 06/11/20300.3%
EPR Properties4.950% 04/15/20280.3%
SEB Funding LLC4.969% 01/30/20520.3%
Aker BP ASA3.100% 07/15/20310.3%
American Express Co4.420% 08/03/20330.3%
Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.3%
FactSet Research Systems Inc3.450% 03/01/20320.3%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd6.084% 05/15/20360.3%
Westpac Banking Corp4.110% 07/24/20340.3%
International Flavors & Fragrances Inc2.300% 11/01/20300.3%
Regal Rexnord Corp6.050% 04/15/20280.3%
ROCC Holdings LLC9.250% 08/15/20260.3%
Great Wolf Trust 2019-WOLF5.976% 12/15/20360.3%
Hyatt Hotels Corp1.300% 10/01/20230.3%
Rad CLO 7 Ltd5.992% 04/17/20330.3%
Tap Rock Resources LLC7.000% 10/01/20260.3%
Intesa Sanpaolo SpA8.248% 11/21/20330.3%
Bank of America Corp2.482% 09/21/20360.3%
Leidos Inc7.125% 07/01/20320.3%
CarMax Auto Owner Trust 2023-16.270% 11/15/20290.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust1.750% 10/29/20240.3%
Macquarie Bank Ltd3.052% 03/03/20360.3%
CenterPoint Energy Resources Corp5.400% 03/01/20330.3%
Ovintiv Inc6.500% 02/01/20380.3%
Trimble Inc6.100% 03/15/20330.3%
Oklahoma Gas and Electric Co5.400% 01/15/20330.3%
Berry Petroleum Co LLC7.000% 02/15/20260.3%
Bayer US Finance II LLC4.375% 12/15/20280.3%
GLP Capital LP / GLP Financing II Inc5.750% 06/01/20280.3%
Discover Bank4.682% 08/09/20280.3%
Intact Financial Corp5.459% 09/22/20320.3%
Horizon Therapeutics USA Inc6.563% 03/15/20280.2%
CIFC Funding 2021-IV Ltd5.842% 07/15/20330.2%
Morgan Stanley2.484% 09/16/20360.2%
Capital One Financial Corp1.343% 12/06/20240.2%
Pacific Gas and Electric Co6.150% 01/15/20330.2%
Carvana Auto Receivables Trust 2019-44.700% 10/15/20260.2%
Occidental Petroleum Corp6.625% 09/01/20300.2%
Tampa Electric Co4.300% 06/15/20480.2%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.2%
Flowserve Corp2.800% 01/15/20320.2%
Wyndham Hotels & Resorts Inc6.590% 05/30/20250.2%
Texas Capital Bancshares Inc4.000% 05/06/20310.2%
Stars Group Holdings BV7.409% 07/21/20260.2%
Eastern Gas Transmission & Storage Inc3.000% 11/15/20290.2%
Molina Healthcare Inc4.375% 06/15/20280.2%
KeyBank NA/Cleveland OH5.000% 01/26/20330.2%
AES Corp/The2.450% 01/15/20310.2%
Protective Life Corp8.450% 10/15/20390.2%
Cellnex Finance Co SA3.875% 07/07/20410.2%
LoanCore 2022-CRE7 Issuer Ltd6.108% 01/17/20370.2%
Avant Loans Funding Trust 2021-REV14.300% 07/15/20300.2%
Morgan Stanley2.239% 07/21/20320.2%
Westpac Banking Corp2.668% 11/15/20350.2%
Constellation Brands Inc3.150% 08/01/20290.2%
Fresenius Medical Care US Finance III Inc3.000% 12/01/20310.2%
BNP Paribas SA4.375% 03/01/20330.2%
US 2YR NOTE (CBT) Jun230.000% 07/06/20230.2%
PVH Corp7.750% 11/15/20230.2%
UBS Group AG2.746% 02/11/20330.2%
Leidos Inc4.375% 05/15/20300.2%
Manufacturers & Traders Trust Co4.650% 01/27/20260.2%
Cigna Group/The2.400% 03/15/20300.2%
Nabors Industries Ltd7.250% 01/15/20260.2%
BPCE SA3.116% 10/19/20320.2%
Viterra Finance BV4.900% 04/21/20270.2%
Brown-Forman Corp4.750% 04/15/20330.2%
US LONG BOND(CBT) Jun230.000% 06/30/20230.2%
Aon Corp8.205% 01/01/20270.2%
Constellation Energy Generation LLC6.250% 10/01/20390.2%
FirstEnergy Transmission LLC4.550% 04/01/20490.2%
CVS Health Corp3.250% 08/15/20290.2%
Navient Corp6.750% 06/25/20250.2%
NatWest Group PLC3.032% 11/28/20350.2%
Baytex Energy Corp8.750% 04/01/20270.2%
Diamondback Energy Inc6.250% 03/15/20330.2%
UBS Group AG5.959% 01/12/20340.2%
NOV Inc3.600% 12/01/20290.2%
Akbank TAS6.797% 04/27/20280.2%
Alfa Desarrollo SpA4.550% 09/27/20510.2%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.2%
Diamondback Energy Inc3.500% 12/01/20290.2%
Octagon Loan Funding Ltd6.081% 11/18/20310.2%
Gulfport Energy Corp8.000% 05/17/20260.2%
Eastern Gas Transmission & Storage Inc4.600% 12/15/20440.2%
CIFC Funding 2019-II Ltd6.292% 04/17/20340.2%
Morgan Stanley5.297% 04/20/20370.2%
Marble Point CLO XVII Ltd6.108% 04/20/20330.2%
Selective Insurance Group Inc5.375% 03/01/20490.2%
Ovintiv Inc6.625% 08/15/20370.2%
Hertz Vehicle Financing LLC3.980% 12/26/20250.2%
Global Atlantic Fin Co4.700% 10/15/20510.2%
Bank of New York Mellon Corp/The4.596% 07/26/20300.2%
Viterra Finance BV2.000% 04/21/20260.2%
MHI Holdings LLC9.840% 09/21/20260.2%
Comstock Resources Inc5.875% 01/15/20300.2%
Lendmark Funding Trust 2021-24.460% 04/20/20320.2%
Mariner Finance Issuance Trust 2021-A5.400% 03/20/20360.2%
Baltimore Gas and Electric Co4.550% 06/01/20520.2%
CS Master Trust8.634% 04/15/20250.1%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.1%
DTE Energy Co3.400% 06/15/20290.1%
Lending Funding Trust 2020-26.770% 04/21/20310.1%
GS Mortgage Securities Corp Trust 2021-ROSS9.334% 05/15/20260.1%
Project Alpha Intermediate Holding Inc8.840% 04/26/20240.1%
Voya CLO 2018-4 Ltd5.832% 01/15/20320.1%
Elevance Health Inc5.500% 10/15/20320.1%
EPR Properties3.750% 08/15/20290.1%
Leidos Inc5.750% 03/15/20330.1%
Invitation Homes Operating Partnership LP5.840% 01/31/20250.1%
Kenvue Inc5.050% 03/22/20530.1%
BX Commercial Mortgage Trust 2019-IMC6.834% 04/15/20340.1%
Westlake Automobile Receivables Trust 2021-13.910% 09/15/20270.1%
Continental Finance Credit Card ABS Master Trust3.660% 12/15/20280.1%
Elevance Health Inc5.125% 02/15/20530.1%
Mountain View CLO 2017-1 LLC5.882% 10/16/20290.1%
SPX FLOW Inc8.750% 04/01/20300.1%
Aviation Capital Group LLC3.500% 11/01/20270.1%
Sabre GLBL Inc7.375% 09/01/20250.1%
M&T Bank Corp5.053% 01/27/20340.1%
Pacific Gas and Electric Co6.700% 04/01/20530.1%
BBCMS 2019-BWAY Mortgage Trust6.552% 11/15/20340.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.1%
Comerica Bank2.500% 07/23/20240.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
Macquarie Group Ltd2.691% 06/23/20320.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Topaz Solar Farms LLC5.750% 09/30/20390.1%
Santander Consumer Auto Receivables Trust 2021-A5.790% 08/15/20280.1%
HPLY Trust 2019-HIT5.684% 11/15/20360.1%
National Australia Bank Ltd2.990% 05/21/20310.1%
UniCredit SpA5.459% 06/30/20350.1%
COMM 2015-PC1 Mortgage Trust4.298% 07/10/20500.1%
Huntington Bancshares Inc/OH2.487% 08/15/20360.1%
Catalent Pharma Solutions Inc0.000% 02/22/20280.1%
CS Master Trust8.862% 04/15/20230.1%
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%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Macquarie Bank Ltd4.875% 06/10/20250.1%
Perimeter Master Note Business Trust4.230% 05/15/20240.1%
Western Alliance Bancorp3.000% 06/15/20310.1%
JFIN CLO 2013 Ltd6.198% 01/20/20300.1%
JPMBB Commercial Mortgage Securities Trust 2015-C304.230% 07/15/20480.1%
Intesa Sanpaolo SpA4.198% 06/01/20320.1%
Morgan Stanley4.431% 01/23/20300.0%
Leidos Holdings Inc5.950% 12/01/20400.0%
Sri Lanka Government International Bond5.875% 07/25/20220.0%
RESORTS WORLD LAS VEGAS LLC6.350% 04/16/20240.0%
Galaxy XXI CLO Ltd5.828% 04/20/20310.0%
Elevation CLO 2014-2 Ltd8.094% 10/15/20290.0%
Wells Fargo Commercial Mortgage Trust 2013-LC124.364% 07/15/20460.0%
LPL Holdings Inc6.412% 11/12/20260.0%
American Airlines Group Inc3.750% 03/01/20250.0%
US 10YR NOTE (CBT)Jun230.000% 06/30/20230.0%
GS Mortgage Securities Trust 2015-GS10.180% 11/10/20480.0%
CPI Swap0.010% 03/24/20280.0%
CPI Swap0.010% 02/10/20280.0%
Government National Mortgage Association0.381% 07/16/20540.0%
CPI Swap0.010% 03/24/20280.0%
FX USD/CAD 04/230.000% 04/20/20230.0%
Alloy Finco Ltd0.500% 03/06/20250.0%
GS Mortgage Securities Trust 2013-GCJ120.475% 06/10/20460.0%
Hudsons Bay Simon JV Trust 2015-HBS0.493% 08/05/20340.0%
Hudsons Bay Simon JV Trust 2015-HBS0.541% 08/05/20340.0%
GS Mortgage Securities Trust 2013-GCJ121.194% 06/10/20460.0%
OGX Austria GmbH8.500% 06/01/20180.0%
US 5YR NOTE (CBT) Jun230.000% 07/06/2023-0.1%
US 10yr Ultra Fut Jun230.000% 06/30/2023-0.6%

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 05/26/2023
$0.03790
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 12/31/2015 $0.01028 $2.66
Daily Daily 11/30/2015 $0.01015 $2.71
Daily Daily 10/31/2015 $0.01035 $2.73
Daily Daily 09/30/2015 $0.01054 $2.72
Daily Daily 08/31/2015 $0.01054 $2.74
Daily Daily 07/31/2015 $0.01028 $2.79
Daily Daily 06/30/2015 $0.01016 $2.81
Daily Daily 05/31/2015 $0.01012 $2.86
Daily Daily 04/30/2015 $0.01027 $2.88
Daily Daily 03/31/2015 $0.01066 $2.89
Daily Daily 02/28/2015 $0.01083 $2.90
Daily Daily 01/31/2015 $0.01088 $2.91

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 05/31/2023
Daily Daily 06/30/2023
Daily Daily 07/31/2023
Daily Daily 08/31/2023
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 05/26/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $2.45
$100,000 to $249,999 1.75% 1.50% $2.43
$250,000 to $499,999 1.25% 1.00% $2.42
$500,000 to $999,999 0.00% 1.00% $2.39
$1,000,000 to $5,000,000 0.00% 1.00% $2.39

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 04/30/2023

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

Fund Documents

Fund Documents

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*"Barron's Best Fund Families of 2021", #4 ranking in the Taxable Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families. Ranking for the ten-year period ending 12/31/2021 is #2 out of 45 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2021,” February 18, 2022. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2021, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

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

© Refinitiv Lipper 2022. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

+

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

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

3

The Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

 

4

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

 

5

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

 

6

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds, and may involve greater risks than higher-rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. The Fund may also invest in convertible securities and senior loans, which are subject to increased credit and liquidity risks. These factors can affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

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

 

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.

Select funds to run a Morningstar Hypothetical Report.

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