Income Fund
Daily price w/o sales charge as of 09/26/2016
$2.85
$0.00
YTD Returns w/o sales charge as of 09/26/2016
10.47%
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
The Fund seeks to deliver a high level of current income by investing primarily in a wide range of investment grade fixed income securities.
Yield
Dividend Yield 1 as of 09/26/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 3.85% | 3.73% |
| w/ sales charge | 3.75% | 3.64% |
30-Day Standardized Yield 2 as of 08/31/2016
| Subsidized5 | Un-Subsidized6 | |
|---|---|---|
| w/o sales charge | 3.27% | 3.16% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Expense Ratioas of 08/31/2016
Expense ratio details, Click here.
The net expense ratio takes into account a contractual management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through 03/31/2017. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.
Fund Basicsas of 08/31/2016
- Total Net Assets
- $1.87 B
- Inception Date
- 09/19/1932*
- Dividend Frequency
- Monthly (Daily Accrual)
- Number of Holdings
- 572
- CUSIP
- 543916308
- Minimum Initial Investment
- $1,500+
The Fund changed its investment strategy on 01/01/1982. Performance is calculated from this date.
Expense ratio details, Click here.
The net expense ratio takes into account a contractual management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through 03/31/2017. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.
Fund Expense Ratio :
Gross 0.90%
Net 0.78%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1982 |
|---|
| w/o sales charge | 10.18% | 8.61% | 5.62% | 5.42% | 6.80% | 8.03% |
| Lipper Category Avg. Corporate Debt Funds BBB-Rated | 9.43% | 8.82% | 5.49% | 4.87% | 5.66% | - |
| Barclays U.S. Credit Bond Index | 9.16% | 9.14% | 5.83% | 4.94% | 5.92% | 9.05% |
| w/ sales charge | 7.75% | 6.28% | 4.77% | 4.92% | 6.55% | 7.96% |
Fund Expense Ratio :
Gross 0.90%
Net 0.78%
Fund Expense Ratio :
Gross 0.90%
Net 0.78%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1982 |
|---|
| w/o sales charge | 7.56% | 4.17% | 4.71% | 5.17% | 6.83% | 7.99% |
| Lipper Category Avg. Corporate Debt Funds BBB-Rated | 7.47% | 6.66% | 4.73% | 4.89% | 5.71% | - |
| Barclays U.S. Credit Bond Index | 7.54% | 7.55% | 5.26% | 5.20% | 6.11% | 9.05% |
| w/ sales charge | 5.19% | 1.99% | 3.86% | 4.66% | 6.58% | 7.92% |
Fund Expense Ratio :
Gross 0.90%
Net 0.78%
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 of future results.
| Type | Assets |
|---|---|
| Investment Grade Corporate | |
| ABS | |
| High Yield Corporate | |
| U.S. Government Related | |
| Currency | |
| CMBS | |
| Bank Loans | |
| MBS | |
| Sovereign | |
| Other | |
| Cash |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
| Maturity | Assets |
|---|---|
| Less than 1 year | |
| 1-2.99 years | |
| 3-4.99 years | |
| 5-6.99 years | |
| 7-9.99 years | |
| Greater than 10 years |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distribution as of 08/31/2016 View Portfolio
| Rating | Assets |
|---|---|
| U.S. Treasury | |
| Agency | |
| AAA | |
| AA | |
| A | |
| BBB | |
| <BBB | |
| Not Rated |
Ratings provided by Standard & Poor's and Moody's. Where S&P and Moody's rate a security differently, Lord Abbett uses the higher credit rating. 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 are not rated. The credit quality distribution breakdown is not an S&P credit rating or an opinion of S&P as to the credit worthiness of the portfolio.
Investment Team
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Performance
Performance
Dividend Yield 1 as of 09/26/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 3.85% | 3.73% |
| w/ sales charge | 3.75% | 3.64% |
30-Day Standardized Yield 2 as of 08/31/2016
| Subsidized5 | Un-Subsidized6 | |
|---|---|---|
| w/o sales charge | 3.27% | 3.16% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Fund Expense Ratio :
Gross 0.90%
Net 0.78%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1982 |
|---|
| w/o sales charge | 10.18% | 8.61% | 5.62% | 5.42% | 6.80% | 8.03% |
| Lipper Category Avg. Corporate Debt Funds BBB-Rated | 9.43% | 8.82% | 5.49% | 4.87% | 5.66% | - |
| Barclays U.S. Credit Bond Index | 9.16% | 9.14% | 5.83% | 4.94% | 5.92% | 9.05% |
| w/ sales charge | 7.75% | 6.28% | 4.77% | 4.92% | 6.55% | 7.96% |
Fund Expense Ratio :
Gross 0.90%
Net 0.78%
Fund Expense Ratio :
Gross 0.90%
Net 0.78%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1982 |
|---|
| w/o sales charge | 7.56% | 4.17% | 4.71% | 5.17% | 6.83% | 7.99% |
| Lipper Category Avg. Corporate Debt Funds BBB-Rated | 7.47% | 6.66% | 4.73% | 4.89% | 5.71% | - |
| Barclays U.S. Credit Bond Index | 7.54% | 7.55% | 5.26% | 5.20% | 6.11% | 9.05% |
| w/ sales charge | 5.19% | 1.99% | 3.86% | 4.66% | 6.58% | 7.92% |
Fund Expense Ratio :
Gross 0.90%
Net 0.78%
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 of future results.
Best returns
| Durations | Fund Returns | Blended Index |
|---|
| 3-Mo | 13.72 | 20.07 |
| 1-Yr | 38.79 | 24.56 |
Worst returns
| Durations | Fund Returns | Blended Index |
|---|
| 3-Mo | -16.36 | -8.54 |
| 1-Yr | -15.52 | -8.66 |
Best & Worst returns reflect a cumulative return for the three-month and one-year periods.
| Year | Fund Returns | Barclays U.S. Credit Bond Index |
|---|
| 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% | 16.04% |
| 2008 | -10.16% | -3.08% |
| 2007 | 6.17% | 5.11% |
| 2006 | 3.58% | 4.26% |
| 2005 | 2.23% | - |
| 2004 | 3.81% | - |
| 2003 | 1.58% | - |
| 2002 | 9.81% | - |
| 2001 | 6.91% | - |
| 2000 | 11.36% | - |
| 1999 | -1.57% | - |
| 1998 | 7.90% | - |
| 1997 | 9.16% | - |
| 1996 | 1.65% | - |
| Year | Q1 | Q2 | Q3 | Q4 | Yearly Returns |
|---|
| 2016 | 3.07% | 4.36% | - | - | 10.47% |
| 2015 | 1.83% | -1.72% | -2.09% | -1.09% | -3.09% |
| 2014 | 3.72% | 3.64% | -0.19% | -0.06% | 7.23% |
| 2013 | 1.20% | -3.53% | 0.57% | 2.12% | 0.27% |
| 2012 | 3.78% | 1.28% | 4.69% | 2.24% | 12.51% |
| 2011 | 2.04% | 2.35% | -0.43% | 2.47% | 6.55% |
| 2010 | 3.37% | 1.82% | 5.77% | -0.43% | 10.84% |
| 2009 | 2.64% | 13.30% | 9.57% | 2.21% | 30.23% |
| 2008 | 1.16% | 0.53% | -6.43% | -5.59% | -10.16% |
| 2007 | 1.14% | -0.86% | 2.73% | 3.07% | 6.17% |
| 2006 | -0.92% | -0.15% | 3.53% | 1.14% | 3.58% |
| 2005 | -0.23% | 2.87% | -0.97% | 0.59% | 2.23% |
| 2004 | 2.46% | -2.48% | 2.95% | 0.91% | 3.81% |
| 2003 | 0.61% | 1.69% | -0.87% | 0.14% | 1.58% |
| 2002 | 0.09% | 4.04% | 4.29% | 1.10% | 9.81% |
| 2001 | 2.33% | 0.31% | 4.76% | -0.60% | 6.91% |
| 2000 | 1.62% | 2.04% | 3.20% | 4.05% | 11.36% |
| 1999 | -0.35% | -1.21% | 0.43% | -0.40% | -1.57% |
| 1998 | 1.25% | 2.41% | 3.95% | 0.11% | 7.90% |
| 1997 | -1.58% | 4.08% | 3.24% | 3.20% | 9.16% |
| 1996 | -2.75% | -0.01% | 1.64% | 2.84% | 1.65% |
| 1995 | 4.23% | 4.46% | 2.13% | 4.02% | 15.65% |
| 1994 | -3.44% | -1.73% | 0.49% | 0.39% | -4.25% |
| 1993 | 3.77% | 3.02% | 2.37% | -0.15% | 9.22% |
| 1992 | -2.13% | 3.64% | 4.99% | 0.58% | 7.10% |
| 1991 | 2.39% | 1.03% | 6.79% | 5.81% | 16.90% |
| 1990 | -1.25% | 3.79% | 0.19% | 6.37% | 9.23% |
| 1989 | 0.71% | 7.02% | 0.86% | 3.71% | 12.76% |
| 1988 | 4.08% | 1.40% | 2.19% | -0.02% | 7.79% |
| 1987 | 2.04% | -3.12% | -3.71% | 6.77% | 1.65% |
| 1986 | 7.51% | -0.68% | 4.27% | 3.27% | 14.97% |
| 1985 | 0.71% | 9.68% | 1.83% | 6.44% | 19.70% |
| 1984 | 1.33% | -2.82% | 7.11% | 6.81% | 12.68% |
| 1983 | 5.62% | 2.63% | 0.80% | 0.64% | 9.95% |
| 1982 | - | 2.91% | 10.87% | 8.62% | 27.89% |
Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.
Growth of $10,000 as of 08/31/2016
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
| Rating | Assets |
|---|---|
| Investment Grade Corporate | |
| ABS | |
| High Yield Corporate | |
| U.S. Government Related | |
| Currency | |
| CMBS | |
| Bank Loans | |
| MBS | |
| Sovereign | |
| Other | |
| Cash |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
| Rating | Assets |
|---|---|
| Less than 1 year | |
| 1-2.99 years | |
| 3-4.99 years | |
| 5-6.99 years | |
| 7-9.99 years | |
| Greater than 10 years |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distribution as of 08/31/2016
| Rating | Assets |
|---|---|
| U.S. Treasury | |
| Agency | |
| AAA | |
| AA | |
| A | |
| BBB | |
| <BBB | |
| Not Rated |
Ratings provided by Standard & Poor's and Moody's. Where S&P and Moody's rate a security differently, Lord Abbett uses the higher credit rating. 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 are not rated. The credit quality distribution breakdown is not an S&P credit rating or an opinion of S&P as to the credit worthiness of the portfolio.
Portfolio Details as of 08/31/2016
- Total Net Assets
- $1.87 B
- Number of Issues
- 572
- Average Coupon
- 4.62%
- Average Life
- 9.1 Years
- Average Effective Duration
- 5.69 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% | 08/31/2021 | 7.5% |
| U.S. Treasury Note/Bond | 1.250% | 03/31/2021 | 2.6% |
| U.S. Treasury Note/Bond | 1.750% | 10/31/2020 | 2.3% |
| AT&T, Inc. | 6.000% | 08/15/2040 | 1.6% |
| Verizon Communications, Inc. | 5.850% | 09/15/2035 | 1.3% |
| Kinder Morgan, Inc. | 7.750% | 01/15/2032 | 0.9% |
| Time Warner, Inc. | 7.625% | 04/15/2031 | 0.8% |
| Actavis Funding SCS | 4.550% | 03/15/2035 | 0.8% |
| General Motors Co. | 6.600% | 04/01/2036 | 0.8% |
| Time Warner Cable, Inc. | 7.300% | 07/01/2038 | 0.8% |
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.
| Holding | Coupon | Maturity | Assets |
|---|
| U.S. Treasury Note/Bond | 1.125% | 07/31/2021 | 3.6% |
| U.S. Treasury Note/Bond | 1.250% | 03/31/2021 | 2.6% |
| U.S. Treasury Note/Bond | 1.750% | 10/31/2020 | 2.4% |
| AT&T, Inc. | 6.300% | 01/15/2038 | 1.4% |
| Verizon Communications, Inc. | 5.850% | 09/15/2035 | 1.3% |
| 21st Century Fox America, Inc. | 6.750% | 01/09/2038 | 0.9% |
| General Motors Co. | 6.600% | 04/01/2036 | 0.9% |
| AT&T, Inc. | 6.500% | 09/01/2037 | 0.9% |
| Actavis Funding SCS | 4.550% | 03/15/2035 | 0.9% |
| Kinder Morgan, Inc. | 7.750% | 01/15/2032 | 0.9% |
| Time Warner, Inc. | 7.625% | 04/15/2031 | 0.8% |
| Amgen, Inc. | 6.400% | 02/01/2039 | 0.8% |
| Time Warner Cable, Inc. | 7.300% | 07/01/2038 | 0.8% |
| New York City Indl Dev Agy | 11.000% | 03/01/2029 | 0.7% |
| Teachers Insurance & Annuity Association of Americ | 4.900% | 09/15/2044 | 0.7% |
| Citigroup, Inc. | 6.125% | 12/31/2099 | 0.7% |
| ENI SpA | 5.700% | 10/01/2040 | 0.7% |
| Montell Finance Co. BV | 8.100% | 03/15/2027 | 0.6% |
| Scottrade Financial Services, Inc. | 6.125% | 07/11/2021 | 0.6% |
| UBS Group Funding Jersey Ltd. | 4.125% | 04/15/2026 | 0.6% |
| Enterprise Products Operating LLC | 7.550% | 04/15/2038 | 0.6% |
| Amazon.com, Inc. | 4.800% | 12/05/2034 | 0.6% |
| Commonwealth Bank of Australia | 4.500% | 12/09/2025 | 0.6% |
| Ford Motor Co. | 7.450% | 07/16/2031 | 0.6% |
| Viacom, Inc. | 6.875% | 04/30/2036 | 0.6% |
| Bank of America Corp. | 4.450% | 03/03/2026 | 0.6% |
| U.S. Treasury Note/Bond | 1.375% | 05/31/2021 | 0.5% |
| Goldman Sachs Group, Inc. | 6.750% | 10/01/2037 | 0.5% |
| Government National Mortgage Association | 2.900% | 02/16/2049 | 0.5% |
| EPR Properties | 5.250% | 07/15/2023 | 0.5% |
| Ruby Pipeline LLC | 6.000% | 04/01/2022 | 0.5% |
| North Texas Tollway Auth | 8.910% | 02/01/2030 | 0.5% |
| Hewlett Packard Enterprise Co. | 4.900% | 10/15/2025 | 0.5% |
| Aon plc | 8.205% | 01/01/2027 | 0.5% |
| Citibank Credit Card Issuance Trust | 1.320% | 09/07/2018 | 0.5% |
| Ford Motor Co. | 6.375% | 02/01/2029 | 0.5% |
| HCP, Inc. | 3.400% | 02/01/2025 | 0.5% |
| Yara International ASA | 7.875% | 06/11/2019 | 0.5% |
| U.S. Treasury Note/Bond | 2.625% | 11/15/2020 | 0.5% |
| Georgia-Pacific LLC | 8.875% | 05/15/2031 | 0.4% |
| Gulfstream Natural Gas System LLC | 4.600% | 09/15/2025 | 0.4% |
| Florida Gas Transmission Co., LLC | 4.350% | 07/15/2025 | 0.4% |
| Capital One Multi-Asset Execution Trust | 0.880% | 11/15/2019 | 0.4% |
| Cox Communications, Inc. | 8.375% | 03/01/2039 | 0.4% |
| Aquarion Co. | 4.000% | 08/15/2024 | 0.4% |
| IFM US Colonial Pipeline 2 LLC | 6.450% | 05/01/2021 | 0.4% |
| JPMorgan Chase & Co. | 6.750% | 12/31/2099 | 0.4% |
| Old Mutual plc | 8.000% | 06/03/2021 | 0.4% |
| KLA-Tencor Corp. | 4.650% | 11/01/2024 | 0.4% |
| Neuberger Berman Group LLC | 5.875% | 03/15/2022 | 0.4% |
| Capital Auto Receivables Asset Trust | 2.710% | 11/20/2019 | 0.4% |
| Avis Budget Rental Car Funding | 2.802% | 05/20/2018 | 0.4% |
| Bank of America Corp. | 6.500% | 12/31/2099 | 0.4% |
| Protective Life Corp. | 8.450% | 10/15/2039 | 0.4% |
| Exelon Generation Co. LLC | 6.250% | 10/01/2039 | 0.4% |
| Energy Transfer Partners L.P. | 7.500% | 07/01/2038 | 0.4% |
| Santander UK plc | 7.950% | 10/26/2029 | 0.4% |
| General Electric Co. | 5.000% | 12/31/2099 | 0.4% |
| Valero Energy Corp. | 10.500% | 03/15/2039 | 0.4% |
| Carnival plc | 7.875% | 06/01/2027 | 0.4% |
| Seminole Tribe of Florida | 6.535% | 10/01/2020 | 0.4% |
| Bank of New York Mellon Corp. | 4.950% | 12/31/2099 | 0.4% |
| Southeast Supply Header LLC | 4.250% | 06/15/2024 | 0.4% |
| Midcontinent Express Pipeline LLC | 6.700% | 09/15/2019 | 0.4% |
| Southern Star Central Corp. | 5.125% | 07/15/2022 | 0.4% |
| FirstEnergy Solutions Corp. | 6.050% | 08/15/2021 | 0.4% |
| Macquarie Bank Ltd. | 6.625% | 04/07/2021 | 0.4% |
| Discover Card Execution Note Trust | 1.220% | 10/15/2019 | 0.4% |
| PVH Corp. | 7.750% | 11/15/2023 | 0.4% |
| Trinity Industries, Inc. | 4.550% | 10/01/2024 | 0.4% |
| Wells Fargo & Co. | 5.875% | 12/31/2099 | 0.4% |
| Citigroup, Inc. | 5.950% | 12/31/2099 | 0.4% |
| NXP BV / NXP Funding LLC | 4.625% | 06/01/2023 | 0.4% |
| Bank of America Corp. | 3.875% | 08/01/2025 | 0.4% |
| Expedia, Inc. | 5.000% | 02/15/2026 | 0.3% |
| Discovery Communications LLC | 6.350% | 06/01/2040 | 0.3% |
| JPMorgan Chase & Co. | 5.300% | 12/31/2099 | 0.3% |
| Aviation Capital Group Corp. | 6.750% | 04/06/2021 | 0.3% |
| Las Vegas Sands LLC | 3.250% | 12/19/2020 | 0.3% |
| Morgan Stanley | 4.350% | 09/08/2026 | 0.3% |
| Mylan, Inc. | 3.950% | 06/15/2026 | 0.3% |
| Apache Corp. | 6.000% | 01/15/2037 | 0.3% |
| Verizon Communications, Inc. | 4.400% | 11/01/2034 | 0.3% |
| Diamond 1 Finance Corp. / Diamond 2 Finance Corp. | 8.100% | 07/15/2036 | 0.3% |
| Weatherford International Ltd. Bermuda | 9.875% | 03/01/2039 | 0.3% |
| Lender Processing Services, Inc. | 5.750% | 04/15/2023 | 0.3% |
| Williams Cos., Inc. | 8.750% | 03/15/2032 | 0.3% |
| Walgreen Co. | 4.500% | 11/18/2034 | 0.3% |
| Brixmor Operating Partnership L.P. | 3.850% | 02/01/2025 | 0.3% |
| The Royal Bank of Scotland Group PLC | 4.800% | 04/05/2026 | 0.3% |
| AbbVie, Inc. | 4.300% | 05/14/2036 | 0.3% |
| Diamond 1 Finance Corp. / Diamond 2 Finance Corp. | 6.020% | 06/15/2026 | 0.3% |
| Verizon Communications, Inc. | 6.400% | 09/15/2033 | 0.3% |
| Discover Bank | 3.450% | 07/27/2026 | 0.3% |
| Cleco Corp. | 4.973% | 05/01/2046 | 0.3% |
| Capital Auto Receivables Asset Trust | 2.350% | 07/22/2019 | 0.3% |
| Dominion Resources, Inc. | 7.000% | 06/15/2038 | 0.3% |
| Bank of America Corp. | 4.250% | 10/22/2026 | 0.3% |
| Barrick International Barbados Corp. | 6.350% | 10/15/2036 | 0.3% |
| California Republic Auto Receivables Trust | 2.530% | 06/15/2021 | 0.3% |
| Municipal Elec Auth of Georgia | 7.055% | 04/01/2057 | 0.3% |
| Anadarko Holding Co. | 7.950% | 04/15/2029 | 0.3% |
| Starwood Hotels & Resorts Worldwide, Inc. | 4.500% | 10/01/2034 | 0.3% |
| Drive Auto Receivables Trust 2016-B | 1.380% | 08/15/2018 | 0.3% |
| Priceline.com, Inc. | 3.600% | 06/01/2026 | 0.3% |
| Central American Bottling Corp. | 6.750% | 02/09/2022 | 0.3% |
| Shell International Finance BV | 6.375% | 12/15/2038 | 0.3% |
| California Republic Auto Receivables Trust | 1.750% | 01/15/2021 | 0.3% |
| Colonial Pipeline Co. | 7.630% | 04/15/2032 | 0.3% |
| COMM Mortgage Trust | 3.898% | 03/10/2031 | 0.3% |
| Dominion Resources, Inc. | 5.750% | 10/01/2054 | 0.3% |
| Hanover Insurance Group, Inc. | 4.500% | 04/15/2026 | 0.3% |
| Lloyds Banking Group plc | 4.582% | 12/10/2025 | 0.3% |
| Kraft Heinz Foods Co. | 6.875% | 01/26/2039 | 0.3% |
| Trans-Allegheny Interstate Line Co. | 3.850% | 06/01/2025 | 0.3% |
| Leaf Receivables Funding 11 LLC | 1.000% | 06/15/2017 | 0.3% |
| Intesa Sanpaolo SpA | 5.710% | 01/15/2026 | 0.3% |
| Morgan Stanley | 5.550% | 12/31/2099 | 0.3% |
| Oaktree EIF I Series A1 Ltd. | 3.279% | 10/18/2027 | 0.3% |
| Morgan Stanley Bank of America Merrill Lynch Trust | 3.989% | 12/15/2046 | 0.3% |
| Frontier Communications Corp. | 6.875% | 01/15/2025 | 0.3% |
| AGL Capital Corp. | 3.250% | 06/15/2026 | 0.3% |
| DCP Midstream LLC | 6.750% | 09/15/2037 | 0.3% |
| GM Financial Automobile Leasing Trust | 1.220% | 01/22/2018 | 0.3% |
| Helmerich & Payne International Drilling Co. | 4.650% | 03/15/2025 | 0.3% |
| Leidos, Inc. | 7.125% | 07/01/2032 | 0.3% |
| CIFC Funding Ltd. | 1.829% | 04/16/2025 | 0.3% |
| Enterprise Products Operating LLC | 4.465% | 08/01/2066 | 0.3% |
| Oceaneering International, Inc. | 4.650% | 11/15/2024 | 0.3% |
| Hospitality Properties Trust | 4.650% | 03/15/2024 | 0.3% |
| Engs Commercial Finance Trust | 2.310% | 10/22/2021 | 0.3% |
| Kraft Heinz Foods Co. | 6.750% | 03/15/2032 | 0.3% |
| Mercedes-Benz Auto Lease Trust 2016-A | 1.340% | 07/16/2018 | 0.3% |
| Blue Cube Spinco, Inc. | 10.000% | 10/15/2025 | 0.2% |
| SunTrust Auto Receivables Trust | 0.990% | 06/15/2018 | 0.2% |
| Teva Pharmaceutical Finance Co., LLC | 6.150% | 02/01/2036 | 0.2% |
| Celanese US Holdings LLC | 4.625% | 11/15/2022 | 0.2% |
| Fortress Credit BSL II Ltd. | 2.188% | 10/19/2025 | 0.2% |
| Ford Credit Floorplan Master Owner Trust A | 1.200% | 02/15/2019 | 0.2% |
| NextGear Floorplan Master Owner Trust | 1.800% | 07/15/2019 | 0.2% |
| Buckeye Partners L.P. | 4.875% | 02/01/2021 | 0.2% |
| Ford Credit Auto Owner Trust | 1.080% | 03/15/2019 | 0.2% |
| CPS Auto Receivables Trust | 2.070% | 11/15/2019 | 0.2% |
| Emera, Inc. | 6.750% | 06/15/2076 | 0.2% |
| Energy Transfer Partners L.P. | 6.625% | 10/15/2036 | 0.2% |
| Source Gas LLC | 5.900% | 04/01/2017 | 0.2% |
| CIFC Funding Ltd. | 2.141% | 05/24/2026 | 0.2% |
| Glencore Finance Canada Ltd. | 6.000% | 11/15/2041 | 0.2% |
| SunTrust Auto Receivables Trust | 3.240% | 01/16/2023 | 0.2% |
| Enbridge Energy Partners L.P. | 8.050% | 10/01/2037 | 0.2% |
| Orange S.A. | 9.000% | 03/01/2031 | 0.2% |
| Americredit Automobile Receivables Trust | 1.270% | 07/08/2019 | 0.2% |
| JPMorgan Commercial Mortgage-Backed Securities Tru | 5.636% | 03/18/2051 | 0.2% |
| ABN Amro Bank NV | 4.750% | 07/28/2025 | 0.2% |
| New Gold, Inc. | 6.250% | 11/15/2022 | 0.2% |
| International Paper Co. | 7.300% | 11/15/2039 | 0.2% |
| QVC, Inc. | 4.375% | 03/15/2023 | 0.2% |
| Navient Corp. | 4.875% | 06/17/2019 | 0.2% |
| Omega Healthcare Investors, Inc. | 4.500% | 04/01/2027 | 0.2% |
| Goldcorp, Inc. | 5.450% | 06/09/2044 | 0.2% |
| Vale Overseas Ltd. | 6.875% | 11/10/2039 | 0.2% |
| California Republic Auto Receivables Trust 2016-1 | 1.500% | 12/17/2018 | 0.2% |
| Precision Drilling Corp. | 5.250% | 11/15/2024 | 0.2% |
| Reynolds American, Inc. | 8.125% | 05/01/2040 | 0.2% |
| Sanchez Energy Corp. | 6.125% | 01/15/2023 | 0.2% |
| Macquarie Equipment Funding Trust 2014-A | 1.230% | 07/20/2021 | 0.2% |
| Sabine Pass Liquefaction LLC | 6.250% | 03/15/2022 | 0.2% |
| Ally Auto Receivables Trust | 1.250% | 04/15/2019 | 0.2% |
| Hudsons Bay Simon JV Trust | 4.666% | 08/05/2034 | 0.2% |
| JFIN Revolver CLO Ltd. | 1.936% | 02/20/2022 | 0.2% |
| National Oilwell Varco, Inc. | 3.950% | 12/01/2042 | 0.2% |
| Drive Auto Receivables Trust 2016-B | 1.670% | 07/15/2019 | 0.2% |
| SCE Trust III | - | - | 0.2% |
| ITC Holdings Corp. | 3.250% | 06/30/2026 | 0.2% |
| Emera US Finance L.P. | 4.750% | 06/15/2046 | 0.2% |
| Oaktree CLO Ltd. | 2.226% | 10/20/2026 | 0.2% |
| OZLM VII Ltd. | 2.169% | 07/17/2026 | 0.2% |
| JBS USA LLC/JBS USA Finance, Inc. | 7.250% | 06/01/2021 | 0.2% |
| Chicago Parking Meters LLC | 5.489% | 12/30/2020 | 0.2% |
| Halliburton Co. | 6.700% | 09/15/2038 | 0.2% |
| Capital Auto Receivables Asset Trust | 0.990% | 10/20/2017 | 0.2% |
| Charter Communications Operating LLC | 6.384% | 10/23/2035 | 0.2% |
| BHP Billiton Finance USA Ltd. | 6.750% | 10/19/2075 | 0.2% |
| Ford Credit Floorplan Master Owner Trust A | 1.920% | 01/15/2019 | 0.2% |
| Kerr-McGee Corp. | 7.875% | 09/15/2031 | 0.2% |
| FNMA Conventional Interm. 15yr | 3.000% | 05/31/2030 | 0.2% |
| Univision Communications, Inc. | 8.500% | 05/15/2021 | 0.2% |
| Seminole Tribe of Florida | 3.000% | 04/29/2020 | 0.2% |
| Leaf Receivables Funding 10 LLC | 2.030% | 08/17/2020 | 0.2% |
| Shackleton CLO Ltd. | 2.132% | 05/07/2026 | 0.2% |
| Hudsons Bay Simon JV Trust | 5.159% | 08/05/2034 | 0.2% |
| Exelon Generation Co. LLC | 5.600% | 06/15/2042 | 0.2% |
| Frontier Communications Corp. | 10.500% | 09/15/2022 | 0.2% |
| Citigroup, Inc. | 5.950% | 12/31/2099 | 0.2% |
| Octagon Investment Partners XIX Ltd. | 2.200% | 04/15/2026 | 0.2% |
| Express Scripts Holding Co. | 4.800% | 07/15/2046 | 0.2% |
| Santander Drive Auto Receivables Trust 2015-5 | 3.650% | 12/15/2021 | 0.2% |
| Time Warner Cable, Inc. | 6.550% | 05/01/2037 | 0.2% |
| NCF Dealer Floorplan Master Trust | 8.987% | 03/21/2022 | 0.2% |
| VTR Finance B.V. | 6.875% | 01/15/2024 | 0.2% |
| Duqesne Light Holdings, Inc. | 6.250% | 08/15/2035 | 0.2% |
| Omega Healthcare Investors, Inc. | 5.875% | 03/15/2024 | 0.2% |
| Schlumberger Holdings Corp. | 4.000% | 12/21/2025 | 0.2% |
| Citigroup, Inc. | 4.125% | 07/25/2028 | 0.2% |
| First Niagara Financial Group, Inc. | 7.250% | 12/15/2021 | 0.2% |
| CSMC Trust | 4.373% | 09/15/2037 | 0.2% |
| Verizon Communications, Inc. | 5.050% | 03/15/2034 | 0.2% |
| Apollo Credit Funding Ltd. | 2.150% | 04/15/2027 | 0.2% |
| Hilcorp Energy L.P. / Hilcorp Finance Co. | 7.625% | 04/15/2021 | 0.2% |
| Chrysler Capital Auto Receivables Trust 2015-B | 2.700% | 12/15/2020 | 0.2% |
| NextGear Floorplan Master Owner Trust | 2.740% | 04/15/2021 | 0.2% |
| CarMax Auto Owner Trust 2016-1 | 1.300% | 04/15/2019 | 0.2% |
| Kerr-McGee Corp. | 7.125% | 10/15/2027 | 0.2% |
| Zimmer Biomet Holdings, Inc. | 4.250% | 08/15/2035 | 0.2% |
| AMC Networks, Inc. | 2.000% | 12/16/2019 | 0.2% |
| Drive Auto Receivables Trust | 3.840% | 07/15/2021 | 0.2% |
| Canadian Natural Resources Ltd. | 0.000% | 08/08/2016 | 0.2% |
| Capital Auto Receivables Asset Trust | 1.390% | 09/20/2018 | 0.2% |
| CNH Wholesale Master Note Trust | 1.081% | 08/15/2019 | 0.2% |
| Equinix, Inc. | 5.750% | 01/01/2025 | 0.2% |
| Chrysler Capital Auto Receivables Trust | 1.270% | 05/15/2019 | 0.2% |
| CSL Capital, LLC | 8.250% | 10/15/2023 | 0.2% |
| Aetna, Inc. | 4.250% | 06/15/2036 | 0.1% |
| Puget Sound Energy, Inc. | 6.974% | 06/01/2067 | 0.1% |
| Mohegan Tribal Gaming Authority | 11.000% | 09/15/2018 | 0.1% |
| COMM 2015-LC23 Mortgage Trust | 3.646% | 10/10/2053 | 0.1% |
| Trinity Acquisition plc | 4.400% | 03/15/2026 | 0.1% |
| Neuberger Berman Group LLC | 4.875% | 04/15/2045 | 0.1% |
| Tenet Healthcare Corp. | 8.000% | 08/01/2020 | 0.1% |
| North Texas Tollway Auth | 8.410% | 02/01/2030 | 0.1% |
| Cent CLO Ltd. | 2.082% | 10/29/2025 | 0.1% |
| NEFF Corp. | 7.250% | 06/09/2021 | 0.1% |
| Avis Budget Rental Car Funding | 2.970% | 02/20/2020 | 0.1% |
| Toyota Auto Receivables 2016-B Owner Trust | 1.020% | 10/15/2018 | 0.1% |
| Popular, Inc. | 7.000% | 07/01/2019 | 0.1% |
| Bank of America Corp. | 4.200% | 08/26/2024 | 0.1% |
| OZLM Funding Ltd. | 3.052% | 07/22/2027 | 0.1% |
| Wells Fargo Commercial Mortgage Trust 2016-C33 | 3.896% | 03/15/2059 | 0.1% |
| Royal Caribbean Cruises Ltd. | 7.500% | 10/15/2027 | 0.1% |
| Carlyle Global Market Strategies CLO Ltd. | 1.829% | 04/18/2025 | 0.1% |
| ROC Finance LLC/ROC Finance 1 Corp. | 12.125% | 09/01/2018 | 0.1% |
| Cent CLO Ltd. | 1.835% | 07/23/2025 | 0.1% |
| Kasima, LLC (Digital Cinema) | 3.250% | 05/17/2021 | 0.1% |
| Avis Budget Rental Car Funding | 2.460% | 07/20/2020 | 0.1% |
| Capsugel S.A. | 7.000% | 05/15/2019 | 0.1% |
| Globo Comunicacao e Participacoes SA | 5.307% | 05/11/2022 | 0.1% |
| US Cellular Corp. | 6.700% | 12/15/2033 | 0.1% |
| U.S. Treasury Note/Bond | 1.625% | 05/15/2026 | 0.1% |
| AmeriCredit Automobile Receivables Trust | 0.940% | 02/08/2019 | 0.1% |
| Drive Auto Receivables Trust 2016-A | 3.170% | 05/15/2020 | 0.1% |
| California Republic Auto Receivables Trust 2015-4 | 1.600% | 09/17/2018 | 0.1% |
| Avis Budget Rental Car Funding | 2.630% | 12/20/2021 | 0.1% |
| T-Mobile USA, Inc. | 6.542% | 04/28/2020 | 0.1% |
| Teck Resources Ltd. | 4.500% | 01/15/2021 | 0.1% |
| Energy Transfer Partners L.P. | 8.250% | 11/15/2029 | 0.1% |
| PNC Financial Services Group, Inc. | 6.750% | 12/31/2099 | 0.1% |
| CNH Equipment Trust | 1.890% | 04/15/2022 | 0.1% |
| Walgreen Co. | 4.800% | 11/18/2044 | 0.1% |
| Morgan Stanley | 3.125% | 07/27/2026 | 0.1% |
| Venture XVIII CLO Ltd. | 2.130% | 10/15/2026 | 0.1% |
| Drive Auto Receivables Trust | 2.120% | 06/17/2019 | 0.1% |
| MEG Energy Corp. | 6.375% | 01/30/2023 | 0.1% |
| Trinidad Drilling Ltd. | 7.875% | 01/15/2019 | 0.1% |
| FTS International, Inc. | 8.153% | 06/15/2020 | 0.1% |
| Wells Fargo Commercial Mortgage Trust | 4.297% | 07/15/2046 | 0.1% |
| Regency Energy Partners L.P. | 5.875% | 03/01/2022 | 0.1% |
| Continental Resources, Inc. | 7.125% | 04/01/2021 | 0.1% |
| ARC Properties Operating Partnership L.P. | 4.875% | 06/01/2026 | 0.1% |
| Bumble Bee Holdco S.C.A/Inc. | 9.625% | 03/15/2018 | 0.1% |
| GS Mortgage Securities Trust | 1.706% | 06/10/2046 | 0.1% |
| Qwest Capital Funding, Inc. | 6.875% | 07/15/2028 | 0.1% |
| M&T Bank Auto Receivables Trust | 1.570% | 08/15/2018 | 0.1% |
| Florida East Coast Railway Corp. | 6.750% | 05/01/2019 | 0.1% |
| Santander Drive Auto Receivables Trust 2016-1 | 4.020% | 04/15/2022 | 0.1% |
| Carrizo Oil & Gas, Inc. | 7.500% | 09/15/2020 | 0.1% |
| International Automotive Components Group S.A. | 9.125% | 06/01/2018 | 0.1% |
| R&R Pik plc | 9.250% | 05/15/2018 | 0.1% |
| OHA Loan Funding Ltd. | 2.126% | 02/15/2027 | 0.1% |
| Ascentium Equipment Receivables 2016-1 Trust | 0.950% | 04/10/2017 | 0.1% |
| Stone Tower CLO VI Ltd. | 0.999% | 04/17/2021 | 0.1% |
| Santander Drive Auto Receivables Trust 2016-2 | 1.380% | 07/15/2019 | 0.1% |
| HCP, Inc. | 4.000% | 12/01/2022 | 0.1% |
| Chrysler Capital Auto Receivables Trust 2016-A | 1.470% | 04/15/2019 | 0.1% |
| OM Asset Management plc | 4.800% | 07/27/2026 | 0.1% |
| Canadian Natural Resources Ltd. | 6.500% | 02/15/2037 | 0.1% |
| Tengizchevroil Finance Co International Ltd | 4.000% | 08/15/2026 | 0.1% |
| Macquarie Bank Ltd. | 4.875% | 06/10/2025 | 0.1% |
| Banco de Bogota SA | 6.250% | 05/12/2026 | 0.1% |
| Nationstar Mortgage LLC / Nationstar Capital Corp. | 7.875% | 10/01/2020 | 0.1% |
| Capital One Multi-Asset Execution Trust | 1.260% | 01/15/2020 | 0.1% |
| Barclays Dryrock Issuance Trust 2016-1 | 1.520% | 05/16/2022 | 0.1% |
| Qatar Government International Bond | 3.250% | 06/02/2026 | 0.1% |
| Emdeon, Inc. | 11.000% | 12/31/2019 | 0.1% |
| PPL UK Distribution Holdings Ltd. | 7.250% | 12/15/2017 | 0.1% |
| Avis Budget Rental Car Funding | 3.270% | 02/20/2018 | 0.1% |
| U.S. Treasury Note/Bond | 2.500% | 02/15/2046 | 0.1% |
| AES Red Oak LLC | 8.540% | 11/30/2019 | 0.1% |
| Westchester CLO Ltd. | 0.862% | 08/01/2022 | 0.1% |
| Albemarle Corp. | 0.000% | 08/05/2016 | 0.1% |
| Red de Carreteras de Occidente SAPIB de CV | 9.000% | 06/10/2028 | 0.1% |
| Honda Auto Receivables Owner Trust | 1.130% | 09/16/2019 | 0.1% |
| ARC Properties Operating Partnership L.P. | 3.000% | 02/06/2019 | 0.1% |
| IASIS Healthcare LLC / IASIS Capital Corp. | 8.375% | 05/15/2019 | 0.1% |
| Express Scripts Holding Co. | 6.125% | 11/15/2041 | 0.1% |
| TI Group Automotive Systems LLC | 8.750% | 07/15/2023 | 0.1% |
| AmeriCredit Automobile Receivables Trust | 2.180% | 06/08/2020 | 0.1% |
| FAGE International SA/ FAGE USA Dairy Industry Inc | 9.875% | 02/01/2020 | 0.1% |
| Bank of America Corp. | 6.300% | 12/31/2099 | 0.1% |
| WaveDivision Escrow LLC / WaveDivision Escrow Corp | 8.125% | 09/01/2020 | 0.1% |
| Barrick North America Finance LLC | 7.500% | 09/15/2038 | 0.1% |
| COMM 2015-LC23 Mortgage Trust | 4.646% | 10/10/2053 | 0.1% |
| Coveris Holdings S.A. | 7.875% | 11/01/2019 | 0.1% |
| GS Mortgage Securities Trust | 0.542% | 06/10/2046 | 0.1% |
| Aleris International, Inc. | 9.500% | 04/01/2021 | 0.1% |
| J. Crew Group, Inc. | 4.000% | 03/05/2021 | 0.1% |
| Jfin Revolver Clo Ltd. | 1.852% | 04/22/2020 | 0.1% |
| Shingle Springs Tribal Gaming Auth | 9.750% | 09/01/2021 | 0.1% |
| New Enterprise Stone & Lime Co., Inc. | 11.000% | 09/01/2018 | 0.1% |
| GE Dealer Floorplan Master Note Trust | 1.237% | 04/22/2019 | 0.1% |
| Century Intermediate Holding Co. | 9.750% | 02/15/2019 | 0.1% |
| Digicel Group Ltd. | 7.125% | 04/01/2022 | 0.1% |
| GAHR Commericial Mortgage Trust | 3.382% | 12/15/2034 | 0.1% |
| Wells Fargo Commercial Mortgage Trust 2016-C33 | 3.123% | 03/15/2059 | 0.1% |
| PaperWorks Industries, Inc. | 9.500% | 08/15/2019 | 0.1% |
| Diamond 1 Finance Corp. / Diamond 2 Finance Corp. | 7.125% | 06/15/2024 | 0.1% |
| Columbia Pipeline Group, Inc. | 4.500% | 06/01/2025 | 0.1% |
| DBWF Mortgage Trust | 3.421% | 06/10/2034 | 0.1% |
| SM Energy Co. | 6.125% | 11/15/2022 | 0.1% |
| Omega Healthcare Investors, Inc. | 4.950% | 04/01/2024 | 0.1% |
| Rivers Pittsburgh Borrower L.P./Rivers Pittsburgh | 9.500% | 06/15/2019 | 0.1% |
| Dell Equipment Finance Trust | 1.720% | 09/22/2020 | 0.1% |
| Credit Suisse Mortgage Capital Certificates | 5.939% | 09/15/2039 | 0.1% |
| CCM Merger, Inc. | 9.125% | 05/01/2019 | 0.1% |
| Moxie Liberty LLC | 7.500% | 08/21/2020 | 0.1% |
| California Republic Auto Receivables Trust 2015-4 | 2.040% | 01/15/2020 | 0.1% |
| Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp. | 6.375% | 06/01/2021 | 0.1% |
| Avis Budget Rental Car Funding | 2.500% | 02/20/2021 | 0.1% |
| FAGE International SA/ FAGE USA Dairy Industry Inc | 5.625% | 08/15/2026 | 0.1% |
| Restoration Hardware Holdings, Inc. | 0.000% | 07/15/2020 | 0.1% |
| Goldentree Loan Opportunities Ltd. | 1.979% | 04/17/2022 | 0.1% |
| Citibank Credit Card Issuance Trust | 1.020% | 02/22/2019 | 0.1% |
| Citigroup Commercial Mortgage Trust 2016-P3 | 4.998% | 04/15/2049 | 0.1% |
| EMI Music Publishing Group North America Holdings | 7.625% | 06/15/2024 | 0.1% |
| Hyundai Auto Receivables Trust | 1.010% | 02/15/2019 | 0.1% |
| Serta Simmons Holdings LLC | 8.125% | 10/01/2020 | 0.1% |
| Thompson Creek Metals Co., Inc. | 12.500% | 05/01/2019 | 0.1% |
| Tennessee Gas Pipeline Co. | 8.375% | 06/15/2032 | 0.1% |
| CarMax Auto Owner Trust | 0.980% | 01/15/2019 | 0.1% |
| Dow Chemical Co. | 9.400% | 05/15/2039 | 0.1% |
| Air Lease Corp. | 4.250% | 09/15/2024 | 0.1% |
| Avis Budget Rental Car Funding | 3.410% | 11/20/2017 | 0.1% |
| California Republic Auto Receivables Trust 2015-4 | 3.730% | 11/15/2021 | 0.1% |
| Porsche Innovative Lease Owner Trust | 1.030% | 11/20/2017 | 0.1% |
| Province of Neuquen | 8.625% | 05/12/2028 | 0.1% |
| Willis North America, Inc. | 7.000% | 09/29/2019 | 0.1% |
| Sovereign Bank | 8.750% | 05/30/2018 | 0.1% |
| Chaparral Energy, Inc. | 8.250% | 09/01/2021 | 0.1% |
| Drive Auto Receivables Trust | 2.280% | 06/17/2019 | 0.1% |
| Schaeffler Holding Finance BV | 6.875% | 08/15/2018 | 0.1% |
| Revlon Escrow Corp. | 6.250% | 08/01/2024 | 0.1% |
| Kinder Morgan Energy Partners L.P. | 7.400% | 03/15/2031 | 0.1% |
| GS Mortgage Securities Trust | 4.412% | 07/10/2048 | 0.1% |
| Nationstar Mortgage LLC / Nationstar Capital Corp. | 6.500% | 07/01/2021 | 0.1% |
| Appalachian Power Co. | 7.000% | 04/01/2038 | 0.1% |
| Santander Drive Auto Receivables Trust | 1.820% | 05/15/2019 | 0.1% |
| Grupo Idesa S.A. de C.V. | 7.875% | 12/18/2020 | 0.1% |
| Beam Suntory, Inc. | 6.625% | 07/15/2028 | 0.1% |
| New Albertson's, Inc. | 7.450% | 08/01/2029 | 0.1% |
| Merrill Lynch Mortgage Investors Trust Series | 6.250% | 10/25/2036 | 0.1% |
| Restoration Hardware Holdings, Inc. | 0.000% | 06/15/2019 | 0.1% |
| Memorial Resource Development Corp. | 5.875% | 07/01/2022 | 0.1% |
| Templar Energy LLC | 8.500% | 11/25/2020 | 0.1% |
| Drive Auto Receivables Trust | 1.380% | 10/15/2018 | 0.1% |
| Flagship Credit Auto Trust 2015-3 | 2.380% | 10/15/2020 | 0.1% |
| WFRBS Commercial Mortgage Trust | 2.300% | 06/15/2045 | 0.1% |
| OneMain Financial Issuance Trust 2016-1A | 3.660% | 02/20/2029 | 0.0% |
| Digicel Ltd. | 6.750% | 03/01/2023 | 0.0% |
| Government National Mortgage Association | 0.604% | 07/16/2054 | 0.0% |
| Drive Auto Receivables Trust | 4.590% | 01/17/2023 | 0.0% |
| Santander Drive Auto Receivables Trust 2016-2 | 2.080% | 02/16/2021 | 0.0% |
| Viacom, Inc. | 4.850% | 12/15/2034 | 0.0% |
| Provincia de Mendoza Argentina | 8.375% | 05/19/2024 | 0.0% |
| WFRBS Commercial Mortgage Trust | 1.190% | 05/15/2047 | 0.0% |
| Navient Corp. | 6.625% | 07/26/2021 | 0.0% |
| JPMBB Commercial Mortgage Securities Trust | 4.312% | 07/15/2048 | 0.0% |
| CarMax Auto Owner Trust | 0.820% | 06/15/2018 | 0.0% |
| Hudsons Bay Simon JV Trust | 0.541% | 08/05/2034 | 0.0% |
| Kinder Morgan, Inc. | 7.800% | 08/01/2031 | 0.0% |
| NCF Dealer Floorplan Master Trust | 5.987% | 03/21/2022 | 0.0% |
| Diamond Resorts Owner Trust | 2.990% | 05/22/2028 | 0.0% |
| Kraft Heinz Foods Co. | 7.125% | 08/01/2039 | 0.0% |
| Sequoia Mortgage Trust | 2.069% | 09/25/2042 | 0.0% |
| Bill Barrett Corp. | 7.000% | 10/15/2022 | 0.0% |
| BRF SA | 7.750% | 05/22/2018 | 0.0% |
| GTH Finance BV | 7.250% | 04/26/2023 | 0.0% |
| Citigroup, Inc. | 4.450% | 09/29/2027 | 0.0% |
| Citigroup Commercial Mortgage Trust 2016-P3 | 2.804% | 04/15/2049 | 0.0% |
| Gruposura Finance | 5.500% | 04/29/2026 | 0.0% |
| BMW Vehicle Owner Trust 2013-A | 1.120% | 04/27/2020 | 0.0% |
| GS Mortgage Securities Trust | 0.185% | 11/10/2048 | 0.0% |
| CarMax Auto Owner Trust | 0.800% | 07/16/2018 | 0.0% |
| CSMC Series | 3.000% | 06/27/2037 | 0.0% |
| Hudsons Bay Simon JV Trust | 0.493% | 08/05/2034 | 0.0% |
| SLM Private Education Loan Trust | 1.231% | 10/16/2023 | 0.0% |
| Affiliated Managers Group, Inc. | 4.250% | 02/15/2024 | 0.0% |
| Affiliated Managers Group, Inc. | 3.500% | 08/01/2025 | 0.0% |
| Banc of America Commercial Mortgage Trust | 4.366% | 09/15/2048 | 0.0% |
| Teck Resources Ltd. | 4.750% | 01/15/2022 | 0.0% |
| Block Communications, Inc. | 7.250% | 02/01/2020 | 0.0% |
| FX BRL/USD 09/16 | - | 09/09/2016 | 0.0% |
| MPH Acquisition Holdings LLC | 7.125% | 06/01/2024 | 0.0% |
| Santander Drive Auto Receivables Trust | 2.570% | 04/15/2021 | 0.0% |
| Glencore Funding LLC | 4.625% | 04/29/2024 | 0.0% |
| Neiman Marcus Group Ltd. Inc. | 8.000% | 10/15/2021 | 0.0% |
| FX USD/GBP 09/16 | - | 09/13/2016 | 0.0% |
| First National Master Note Trust 2015-1 | 1.251% | 09/15/2020 | 0.0% |
| TCF Auto Receivables Owner Trust 2015-2 | 4.240% | 08/15/2022 | 0.0% |
| Windsor Financing, LLC | 6.250% | 12/05/2017 | 0.0% |
| AmeriCredit Automobile Receivables Trust | 0.900% | 09/10/2018 | 0.0% |
| CSMC Series | 3.000% | 07/27/2036 | 0.0% |
| Ally Auto Receivables Trust | 0.850% | 01/16/2018 | 0.0% |
| Banco de Galicia y Buenos Aires | 8.250% | 07/19/2026 | 0.0% |
| CarMax Auto Owner Trust | 0.970% | 04/16/2018 | 0.0% |
| FX ZAR/USD 10/16 | - | 10/13/2016 | 0.0% |
| Honda Auto Receivables Owner Trust | 0.690% | 09/18/2017 | 0.0% |
| JPMBB Commercial Mortgage Securities Trust | 1.245% | 04/15/2047 | 0.0% |
| Cablevision SA/Argentina | 6.500% | 06/15/2021 | 0.0% |
| TCF Auto Receivables Owner Trust | 3.530% | 03/15/2022 | 0.0% |
| FX CLP/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX CLP/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX IDR/USD 09/16 | - | 09/09/2016 | 0.0% |
| Hyundai Auto Receivables Trust | 0.730% | 06/15/2018 | 0.0% |
| Rite Aid Corp. | 9.250% | 03/15/2020 | 0.0% |
| FX KRW/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX BRL/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX ZAR/USD 09/16 | - | 09/09/2016 | 0.0% |
| MKS Instruments, Inc. | 4.250% | 04/19/2023 | 0.0% |
| FX KRW/USD 10/16 | - | 10/13/2016 | 0.0% |
| WFRBS Commercial Mortgage Trust | 0.572% | 05/15/2047 | 0.0% |
| FX HUF/USD 10/16 | - | 10/13/2016 | 0.0% |
| SLM Private Education Loan Trust | 1.581% | 08/15/2023 | 0.0% |
| FX PLN/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX IDR/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX CNY/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX RON/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX KRW/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX ILS/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX INR/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX SGD/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX USD/TRY 08/16 | - | 08/12/2016 | 0.0% |
| FX PHP/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX PEN/USD 08/16 | - | 08/12/2016 | 0.0% |
| California Republic Auto Receivables Trust | 0.850% | 05/15/2018 | 0.0% |
| FX USD/CAD 09/16 | - | 09/09/2016 | 0.0% |
| FX BRL/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX IDR/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX INR/USD 08/16 | - | 08/12/2016 | 0.0% |
| JPMBB Commercial Mortgage Securities Trust | 0.280% | 04/15/2047 | 0.0% |
| FX USD/COP 08/16 | - | 08/12/2016 | 0.0% |
| FX RUB/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX CZK/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX INR/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX RON/USD 08/16 | - | 08/12/2016 | 0.0% |
| Federal Home Loan Mortgage Corp. | 0.000% | 08/15/2022 | 0.0% |
| FX TRY/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX USD/EUR 08/16 | - | 08/16/2016 | 0.0% |
| FX USD/TRY 08/16 | - | 08/12/2016 | 0.0% |
| FX ILS/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX ZAR/USD 10/16 | - | 10/13/2016 | 0.0% |
| OGX Petroleo e Gas S.A. | - | - | 0.0% |
| FX CZK/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX ZAR/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX KRW/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX CNY/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX USD/PEN 08/16 | - | 08/12/2016 | 0.0% |
| Afren plc | 10.250% | 04/08/2019 | 0.0% |
| FX USD/RUB 08/16 | - | 08/12/2016 | 0.0% |
| Federal Home Loan Mortgage Corp. | 0.000% | 09/15/2022 | 0.0% |
| FX RUB/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX IDR/USD 10/16 | - | 10/13/2016 | 0.0% |
| Afren plc | 6.625% | 12/09/2020 | 0.0% |
| Federal Home Loan Mortgage Corp. | 0.000% | 06/15/2021 | 0.0% |
| Federal Home Loan Mortgage Corp. | 0.000% | 10/15/2021 | 0.0% |
| FX SGD/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX THB/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX THB/USD 10/16 | - | 10/13/2016 | 0.0% |
| Federal Home Loan Mortgage Corp. | 0.000% | 07/01/2022 | 0.0% |
| FX INR/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX INR/USD 09/16 | - | 09/09/2016 | 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 National Mortgage Assoc. | 0.000% | 04/25/2022 | 0.0% |
| FX MXN/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX ARS/USD 09/16 | - | 09/13/2016 | 0.0% |
| US 2YR NOTE (CBT) SEP16 | 0.000% | 10/05/2016 | 0.0% |
| US ULTRA BOND CBT SEP16 | 0.000% | 09/30/2016 | 0.0% |
| US LONG BOND(CBT) SEP16 | 0.000% | 09/30/2016 | 0.0% |
| Federal National Mortgage Assoc. | 9.500% | 08/25/2021 | 0.0% |
| Federal Home Loan Mortgage Corp. | 1008.500% | 04/15/2021 | 0.0% |
| Federal Home Loan Mortgage Corp. | 982.654% | 04/15/2022 | 0.0% |
| FX IDR/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX USD/GBP 10/16 | - | 10/19/2016 | 0.0% |
| FX BRL/USD 10/16 | - | 10/13/2016 | 0.0% |
| Federal Home Loan Mortgage Corp. | 1007.000% | 02/15/2022 | 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. | 900.950% | 12/15/2020 | 0.0% |
| Federal National Mortgage Assoc. | 1008.000% | 12/25/2021 | 0.0% |
| Federal Home Loan Mortgage Corp. | 1010.500% | 02/15/2021 | 0.0% |
| Federal Home Loan Mortgage Corp. | 409.000% | 04/15/2021 | 0.0% |
| Federal Home Loan Mortgage Corp. | 1008.400% | 11/15/2021 | 0.0% |
| FX MXN/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX RUB/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX CLP/USD 09/16 | - | 09/09/2016 | 0.0% |
| OGX Austria GmbH | 8.500% | 06/01/2018 | 0.0% |
| Federal Home Loan Mortgage Corp. | 494.140% | 08/15/2021 | 0.0% |
| Federal Home Loan Mortgage Corp. | 1095.350% | 10/15/2020 | 0.0% |
| Federal Home Loan Mortgage Corp. | 1009.000% | 02/15/2021 | 0.0% |
| FX USD/SGD 08/16 | - | 08/12/2016 | 0.0% |
| FX USD/TWD 09/16 | - | 09/12/2016 | 0.0% |
| FX BRL/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX IDR/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX USD/TWD 09/16 | - | 09/12/2016 | 0.0% |
| FX USD/GBP 10/16 | - | 10/19/2016 | 0.0% |
| US 10YR NOTE (CBT)SEP16 | 0.000% | 09/30/2016 | 0.0% |
| US 5YR NOTE (CBT) SEP16 | 0.000% | 10/05/2016 | 0.0% |
| FX USD/CLP 08/16 | - | 08/12/2016 | 0.0% |
| FX CLP/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX USD/CZK 09/16 | - | 09/09/2016 | 0.0% |
| FX USD/ILS 09/16 | - | 09/09/2016 | 0.0% |
| FX USD/KRW 08/16 | - | 08/12/2016 | 0.0% |
| FX MXN/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX USD/ILS 09/16 | - | 09/09/2016 | 0.0% |
| FX USD/IDR 08/16 | - | 08/12/2016 | 0.0% |
| FX HUF/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX USD/RON 08/16 | - | 08/12/2016 | 0.0% |
| FX RON/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX USD/HUF 08/16 | - | 08/12/2016 | 0.0% |
| FX USD/SGD 08/16 | - | 08/12/2016 | 0.0% |
| FX USD/TWD 09/16 | - | 09/12/2016 | 0.0% |
| FX PEN/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX PLN/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX USD/CLP 08/16 | - | 08/12/2016 | 0.0% |
| FX RUB/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX USD/CNH 10/16 | - | 10/11/2016 | 0.0% |
| FX MYR/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX USD/CNH 10/16 | - | 10/11/2016 | 0.0% |
| FX USD/TRY 09/16 | - | 09/09/2016 | 0.0% |
| FX RUB/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX ARS/USD 10/16 | - | 10/03/2016 | 0.0% |
| FX MYR/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX COP/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX COP/USD 09/16 | - | 09/09/2016 | 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% |
| FX PEN/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX USD/EUR 10/16 | - | 10/13/2016 | 0.0% |
| FX MXN/USD 10/16 | - | 10/13/2016 | 0.0% |
| Commercial Mortgage Backed Index Swap | 0.350% | 10/17/2057 | 0.0% |
| FX COP/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX ARS/USD 08/16 | - | 08/29/2016 | 0.0% |
| FX TRY/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX RUB/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX MXN/USD 08/16 | - | 08/12/2016 | 0.0% |
| FX COP/USD 09/16 | - | 09/09/2016 | 0.0% |
| FX TRY/USD 10/16 | - | 10/13/2016 | 0.0% |
| FX ARS/USD 09/16 | - | 09/13/2016 | 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
Dividends & Cap Gains
Dividend Payments
- YTD Dividends Paidas of 09/26/2016
- $0.076
- Dividend Frequency
- Monthly (Daily Accrual)
| Record Date | Ex-Dividend Date | Reinvest & Payable Date | Dividend | Reinvest Price |
|---|---|---|---|---|
| Daily | Daily | 08/31/2016 | $0.00913 | $2.85 |
| Daily | Daily | 07/31/2016 | $0.00898 | $2.84 |
| Daily | Daily | 06/30/2016 | $0.00920 | $2.80 |
| Daily | Daily | 05/31/2016 | $0.00913 | $2.75 |
| Daily | Daily | 04/30/2016 | $0.00942 | $2.76 |
| Daily | Daily | 03/31/2016 | $0.00985 | $2.71 |
| Daily | Daily | 02/29/2016 | $0.01040 | $2.61 |
| Daily | Daily | 01/31/2016 | $0.01051 | $2.62 |
Upcoming Dividend Payment Dates
| Record Date | Ex-Dividend Date | Reinvest & Payable Date |
|---|---|---|
| Daily | Daily | 09/30/2016 |
| Daily | Daily | 10/31/2016 |
| Daily | Daily | 11/30/2016 |
| Daily | Daily | 12/31/2016 |
Capital Gains Distributions
| 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 |
|---|---|
| 12/15/2016 | 12/16/2016 |
Fees & Expenses
Fees & Expenses
Sales Charge Schedule as of 09/26/2016
| Sales Charge | Dealer's Concession | Prices at Breakpoint | |
|---|---|---|---|
| Less than $100,000 | 2.25% | 2.00% | $2.92 |
| $100,000 to $249,999 | 1.75% | 1.50% | $2.90 |
| $250,000 to $499,999 | 1.25% | 1.00% | $2.89 |
| $500,000 to $999,999 | 0.00% | 1.00% | $2.85 |
| $1,000,000 to $5,000,000 | 0.00% | 1.00% | $2.85 |
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.
Expense Ratioas of 08/31/2016
Expense ratio details, Click here.
The net expense ratio takes into account a contractual management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through 03/31/2017. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.
Fund Review
Fund Review
Fund Review*Class A Share at net asset value (NAV). For the latest NAV, including maximum sales charges (MOP) performance information, visit us at lordabbett.com. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted.
If applicable, “Modestly” is defined as any under or outperformance within 100 basis points (bps) for equity funds and 50 basis points (bps) for fixed income funds as compared to the Fund's benchmark.
1“Press Release—Federal Reserve Issues FOMC Statement," Federal Reserve, June 15, 2016.
2“Economic Projections of Federal Reserve Board Members and Federal Reserve Bank Presidents, June 2016,” Federal Reserve, June 15, 2016.
3The Consumer Price Index (CPI) measures the price changes for each item in a predetermined basket of goods and services, and the inputs are weighted according to their importance to consumers.
4“News Release: Consumer Price Index Summary,” Bureau of Labor Statistics, June 16, 2016.
5“News Release: Employment Situation Summary,” Bureau of Labor Statistics, June 3, 2016.
6The BofA Merrill Lynch U.S. Treasury Index tracks the performance of U.S. dollar-denominated sovereign debt publicly issued by the U.S. government in its domestic market. Qualifying securities must have at least one year remaining term to final maturity, a fixed coupon schedule, and a minimum amount outstanding of $1 billion. Qualifying securities must have at least 18 months to final maturity at the time of issuance. Callable perpetual securities qualify provided they are at least one year from the first call date. Fixed-to-floating rate securities also qualify provided they are callable within the fixed rate period and are at least one year from the last call prior to the date the bond transitions from a fixed to a floating-rate security. Bills, inflation-linked debt, and strips are excluded from the index; however, original issue zero coupon bonds are included in the index and the amounts outstanding of qualifying coupon securities are not reduced by any portions that have been stripped. Securities issued or marketed primarily to retail investors do not qualify for inclusion in the index. Index constituents are capitalization-weighted based on their current amount outstanding times the market price plus accrued interest.
7The BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization‐weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro‐rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro‐rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro‐rata basis.
8The Credit Suisse Leveraged Loan Index is designed to mirror the investable universe of the U.S. dollar-denominated leveraged loan market. The CS Leveraged Loan Index, which includes reinvested dividends, has been taken from published sources.
9The Barclays U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment.
10The BofA Merrill Lynch All Convertibles, All Qualities Index contains issues that have a greater than $50 million aggregate market value. The issues are U.S. dollar-denominated, sold into the U.S. market, and publicly traded in the United States.
11The Barclays U.S. Corporate Bond Index includes all publicly held issued, fixed-rate, nonconvertible investment-grade corporate debt. The index is composed of both U.S. and Brady bonds.
12The Barclays Mortgage-Backed Securities Index is an unmanaged index composed of all fixed securities mortgage pools by GNMA, FNMA, and the FHLMC, including GNMA graduated payment mortgages.
13The Barclays U.S. CMBS Investment Grade Index measures the market of conduit and fusion CMBS deals with a minimum current deal size of $300 million. The index is divided into two subcomponents: the U.S. Aggregate-eligible component, which contains bonds that are ERISA eligible under the underwriter's exemption, and the non-U.S. Aggregate-eligible component, which consists of bonds that are not ERISA eligible.
14The BofA Merrill Lynch U.S. Municipal Securities Index tracks the performance of U.S. dollar-denominated investment-grade tax-exempt debt publicly issued by U.S. states and territories, and their political subdivisions, in the U.S. domestic market. Qualifying securities must have at least one year remaining term to final maturity, a fixed coupon schedule, and an investment-grade rating (based on an average of Moody’s, Standard & Poor’s, and Fitch). Minimum size requirements vary based on the initial term to final maturity at time of issuance. Securities with an initial term to final maturity greater than or equal to one year and less than five years must have a current amount outstanding of at least $10 million. Securities with an initial term to final maturity greater than or equal to five years and less than 10 years must have a current amount outstanding of at least $15 million. Securities with an initial term to final maturity of 10 years or more must have a current amount outstanding of at least $25 million. The call date on which a pre-refunded bond will be redeemed is used for purposes of determining qualification with respect to final maturity requirements. Original issue zero coupon bonds are included in the index. Taxable municipal securities and 144a securities are excluded from the index.
15The J.P. Morgan Corporate Emerging Markets Bond Index Broad Diversified (CEMBI BD) is a market capitalization-weighted index that tracks total returns of U.S. dollar-denominated debt instruments issued by corporate entities in emerging markets countries. The index limits the current face amount allocations of the bonds in the CEMBI Broad by constraining the total face amount outstanding for countries with larger debt stocks.
16The 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.
The indexes are presented for informational purposes only and are not presented to illustrate any specific product or security. Unless otherwise specified, indexes reflect total return, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. Past performance is not a reliable indicator or guarantee of future results.
The Fund’s portfolio is actively managed and, therefore, its holdings and the weightings of a particular issuer or particular sector as a percentage of portfolio assets may change significantly over time. Sectors may include many industries. The mention of specific portfolio holdings 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.
A Note about Risk: The Fund is subject to the general risks and considerations 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.
Treasuries are debt securities issued by the U.S. government and secured by its full faith and credit. Income from Treasury securities is exempt from state and local taxes.
Effective December 14, 2007, the Fund transitioned its investment approach from a U.S. government and government-sponsored enterprises strategy to a corporate bond-oriented fixed-income strategy.
The credit quality of the securities in a portfolio are assigned by a nationally recognized statistical rating organization (NRSRO), such as Standard & Poor’s, Moody’s, or Fitch, as an indication of an issuer’s creditworthiness. 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.
The views and information discussed in this commentary are as of June 30, 2016, are subject to change, and may not reflect the views of the firm as a whole. The views expressed in market commentaries are at a specific point in time, are opinions only, and should not be relied upon as a forecast, research, or investment advice regarding a particular investment or the markets in general. Information discussed should not be considered a recommendation to purchase or sell securities.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Lord Abbett Funds. This and other important information is contained in the Fund's summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional or Lord Abbett Distributor LLC at 888-522-2388, or visit us at www.lordabbett.com. Read the prospectus carefully before investing.
Fund Documents
Fund Documents
Download fund documents & literature, create email subscriptions, and place direct mail order
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Summary Prospectus
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Statutory Prospectus
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Prospectus (XBRL)
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SAI
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Annual Report
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Semi-Annual Report
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Fact Sheet
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Fixed Income Flyer
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