LIFKX | Inflation Focused Fund Class R4 | Lord Abbett

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Inflation Focused Fund

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Summary

Summary

What is the Inflation Focused Fund?

The Fund seeks to deliver total returns that exceed the rate of inflation in the U.S. over a full inflation cycle and current income by combining investments in inflation swaps with a portfolio of short duration credit. 
 

EXPERIENCED INVESTMENT TEAM

The strategy is managed through a collaboration among 40+ investment professionals in portfolio management, credit research, and trading.

HIGHER INCOME POTENTIAL WITH LOWER DURATION

By utilizing short duration credit, the strategy generates the highest income stream in the Morningstar category with one-third the duration of the average TIPS-based portfolio.

TRUE INFLATION PROTECTION

By using inflation swaps to hedge exposure to investor expectations of future inflation, the strategy isolates inflation risk with much less nominal interest rate exposure than the Morningstar category.  As such, the strategy is designed to do well when inflation expectation increase.

 

Yield

Dividend Yield 1 as of 12/06/2022  

w/o sales charge 3.67%

30-Day Standardized Yield 2 as of 11/30/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 4.38% 4.37%

Fund Basicsas of 10/31/2022

Total Net Assets
$2.82 B
Inception Date
06/30/2015
Dividend Frequency
Monthly
Fund Expense Ratio
0.69%
Number of Holdings
973
 
Inflation Resource Center

Flexible Fixed-Income Solutions for a Number of Market Outcomes

In today's market environment, many are focused on the potential investment implications of rising inflation. While Lord Abbett's experts say they don't think now is the time to make drastic changes to a portfolio, this Reource Center provides thoughtful insights and potential solutions for a number of situation-based outcomes.

Learn More

 

 

Fund Expense Ratio :

0.69%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -4.27% -3.55% 4.40% 3.04% 1.13% -
Lipper Category Avg. Inflation Protected Bond Funds -8.91% -8.69% 1.72% 2.16% 0.75% -

Fund Expense Ratio :

0.69%

Fund Expense Ratio :

0.69%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -6.62% -5.03% 3.97% 2.62% 1.06% -
Lipper Category Avg. Inflation Protected Bond Funds -11.34% -9.83% 0.91% 1.65% 0.57% -

Fund Expense Ratio :

0.69%

RELATED CONTENT

Equities: Identifying Potential Inflation Winners and Losers
December 7, 2021

We believe investors should focus on the stocks of four types of companies that may be best- positioned to prosper during a sustained period of rising prices.

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

Credit Quality Distribution as of 10/31/2022 View Portfolio

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

INVESTMENT TEAM

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

28 Years of Industry Experience

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

Partner & Portfolio Manager

24 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

21 Years of Industry Experience

Leah G. Traub
Leah G. Traub, Ph.D.

Partner & Portfolio Manager

21 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

31 Years of Industry Experience

Supported By 70 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 12/06/2022  

w/o sales charge 3.67%

30-Day Standardized Yield 2 as of 11/30/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 4.38% 4.37%

Fund Expense Ratio :

0.69%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -4.27% -3.55% 4.40% 3.04% 1.13% -
Lipper Category Avg. Inflation Protected Bond Funds -8.91% -8.69% 1.72% 2.16% 0.75% -

Fund Expense Ratio :

0.69%

Fund Expense Ratio :

0.69%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -6.62% -5.03% 3.97% 2.62% 1.06% -
Lipper Category Avg. Inflation Protected Bond Funds -11.34% -9.83% 0.91% 1.65% 0.57% -

Fund Expense Ratio :

0.69%

Year Fund Returns
2021 10.17%
2020 5.78%
2019 4.90%
2018 -1.32%
2017 1.20%
2016 4.98%
2015 -2.27%
2014 -5.24%
2013 -1.75%
2012 9.75%
2011 -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -0.42% -4.11% -2.20% - -4.21%
2021 4.26% 1.53% 2.34% 1.70% 10.17%
2020 -14.79% 10.42% 6.12% 5.94% 5.78%
2019 2.67% 0.31% -1.38% 3.27% 4.90%
2018 0.40% 1.03% 0.70% -3.38% -1.32%
2017 0.63% -1.53% 1.12% 1.00% 1.20%
2016 -0.91% -0.66% 2.44% 4.12% 4.98%
2015 -0.19% 1.71% -4.70% 1.01% -2.27%
2014 0.01% 2.20% -2.82% -4.60% -5.24%
2013 0.56% -3.76% 1.31% 0.20% -1.75%
2012 5.33% -0.93% 3.08% 2.04% 9.75%
2011 - - -5.99% 2.19% -

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

Credit Quality Distribution as of 10/31/2022

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

Portfolio Positioning as of 9/30/2022

  • During the quarter we focused on shifting the Fund’s overall positioning to be higher in quality and liquidity. Specifically, we used less volatile market days to take gains in lower quality holdings and reposition the portfolio to a higher quality profile, taking advantage of short-term liquidity.
  • The sales of lower quality holdings were primarily within the high yield bond and bank loan allocations. Within both leveraged credit sectors, we focused on selling securities lower in the credit stack as well as consumer cyclical issues. Overall, while we took down the Fund’s weight and risk within each leveraged credit sector, we have maintained these allocations with an emphasis on BB’s and issues within the basic industry sector while remaining cautious of exposure to securities further down the credit stack and those within the consumer cyclical category.
  • In addition, we reduced the portfolio’s modest exposure to non-agency residential mortgage-backed securities (RMBS) as we looked to trim the portfolio’s real estate related risk and recognize the potential negative impact of rising mortgage rates on home prices and the ability of homeowners to make payments in an economic downturn.
  • The largest increase was to the Fund’s allocation to investment grade corporate bonds. This aligns with the overall up-in-liquidity, up-in-quality theme during the quarter. We specifically sought issuers with strong balance sheet in defensive sectors.
  • We also increased the Fund’s allocation to short-term U.S. Treasuries. This was intended to increase the quality and liquidity within the portfolio. Furthermore, we believe that the 2-year Treasury yield has priced in several expected Fed rate hikes.
  • Lastly, we also increased the allocation to high-quality asset-backed securities (ABS). This was also consistent with the up-in-liquidity, up-in-quality theme during the quarter. We specifically focused on adding to AAA-rated consumer-backed credit card receivables and auto-loans. Any sales within the ABS sector were “whole business” ABS with labor-intensive business collateral.

Portfolio Details as of 10/31/2022

Total Net Assets
$2.82 B
Number of Issues
973
Average Coupon
4%
Average Life
1.98 Years
Average Maturity
1.99 Years
Average Effective Duration
2.96 Years
Average Yield to Worst
6.84%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 12/06/2022
$0.332
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2022 $0.03566 $11.65
Daily Daily 10/31/2022 $0.03222 $11.60
Daily Daily 09/30/2022 $0.02814 $11.43
Daily Daily 08/31/2022 $0.03301 $11.99
Daily Daily 07/31/2022 $0.03309 $12.15
Daily Daily 06/30/2022 $0.03029 $11.78
Daily Daily 05/31/2022 $0.03326 $12.25
Daily Daily 04/30/2022 $0.02953 $12.36
Daily Daily 03/31/2022 $0.02780 $12.38
Daily Daily 02/28/2022 $0.02416 $12.47
Daily Daily 01/31/2022 $0.02504 $12.41

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 11/30/2022

0.69%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Publish Date:11/03/2015
Publish Date:11/03/2015

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