LIFAX | Inflation Focused Fund Class A | Lord Abbett
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Inflation Focused Fund

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 12/06/2021  

w/o sales charge 1.93%
w/ sales charge 1.89%

30-Day Standardized Yield 2 as of 10/31/2021  

0.69%

Expense Ratioas of 11/30/2021

Fund Basicsas of 10/29/2021

Total Net Assets
$3.31 B
Inception Date
04/29/2011
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
1369
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

0.70%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 9.39% 12.59% 6.11% 4.08% 2.36% 1.99%
Lipper Category Avg. Inflation Protected Bond Funds 5.07% 6.38% 7.36% 4.48% 2.46% -
w/ sales charge 6.91% 10.07% 5.30% 3.61% 2.12% 1.77%

Fund Expense Ratio :

0.70%

Fund Expense Ratio :

0.70%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 8.35% 14.80% 5.19% 4.61% 2.59% 1.93%
Lipper Category Avg. Inflation Protected Bond Funds 3.58% 5.79% 6.44% 3.84% 2.52% -
w/ sales charge 5.89% 12.17% 4.40% 4.14% 2.36% 1.70%

Fund Expense Ratio :

0.70%

RELATED CONTENT

Inflation Protection: A Closer Look at CPI Swaps
November 8, 2021

With investors increasingly focused on the prospect of higher inflation, we examine a popular alternative to traditional inflation hedging strategies

Investing amid Inflation Uncertainty
May 17, 2021

So far, inflation has not accelerated after massive U.S. fiscal stimulus—but it’s still early in the game. Giulio Martini shares his insights on the implications for investors.

Type Assets
Investment Grade Corporate
CMBS
High Yield Corporate
U.S. Government Related
ABS
Bank Loans
CLO
MBS
Sovereign
Other
Cash
Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years

Credit Quality Distribution as of 10/29/2021 View Portfolio

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

INVESTMENT TEAM

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

27 Years of Industry Experience

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

Partner & Portfolio Manager

22 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

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

Partner & Portfolio Manager

19 Years of Industry Experience

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

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Performance

Performance

Dividend Yield 1 as of 12/06/2021  

w/o sales charge 1.93%
w/ sales charge 1.89%

30-Day Standardized Yield 2 as of 10/31/2021  

  Subsidized5 Un-Subsidized6
w/o sales charge 0.69% 0.69%

Fund Expense Ratio :

0.70%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 9.39% 12.59% 6.11% 4.08% 2.36% 1.99%
Lipper Category Avg. Inflation Protected Bond Funds 5.07% 6.38% 7.36% 4.48% 2.46% -
w/ sales charge 6.91% 10.07% 5.30% 3.61% 2.12% 1.77%

Fund Expense Ratio :

0.70%

Fund Expense Ratio :

0.70%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 8.35% 14.80% 5.19% 4.61% 2.59% 1.93%
Lipper Category Avg. Inflation Protected Bond Funds 3.58% 5.79% 6.44% 3.84% 2.52% -
w/ sales charge 5.89% 12.17% 4.40% 4.14% 2.36% 1.70%

Fund Expense Ratio :

0.70%

Year Fund Returns
2020 5.93%
2019 4.86%
2018 -1.28%
2017 1.33%
2016 4.96%
2015 -2.22%
2014 -5.20%
2013 -1.76%
2012 9.87%
2011 -3.48%
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 4.26% 1.62% 2.27% - 9.16%
2020 -14.80% 10.55% 6.13% 5.96% 5.93%
2019 2.60% 0.41% -1.37% 3.19% 4.86%
2018 0.40% 0.95% 0.71% -3.28% -1.28%
2017 0.73% -1.53% 1.13% 1.01% 1.33%
2016 -0.90% -0.65% 2.45% 4.05% 4.96%
2015 -0.17% 1.72% -4.68% 1.03% -2.22%
2014 0.02% 2.20% -2.74% -4.66% -5.20%
2013 0.51% -3.67% 1.32% 0.15% -1.76%
2012 5.40% -0.99% 3.16% 2.05% 9.87%
2011 - - -5.92% 2.13% -3.48%

Growth of $10,000 as of 07/31/2021

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
CMBS
High Yield Corporate
U.S. Government Related
ABS
Bank Loans
CLO
MBS
Sovereign
Other
Cash
Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years

Credit Quality Distribution as of 10/29/2021

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

Portfolio Positioning as of 9/30/2021

  • Over the quarter, we added risk exposure to the portfolio’s commercial mortgage-backed securities (CMBS) allocation using relatively longer duration corporate bonds, predominantly in the financials sector, as a funding source. The additions to CMBS in the portfolio have been focused on floating rate single-asset, single-borrower deals with high quality tenants in strong geographic areas. CMBS offer more attractive value relative to corporate bonds, in our view. We believe this securitized asset class has delivered attractive relative carry and has been supported by economic growth and a supportive Federal Government. However, in-depth due diligence is essential as geography matters and rent roll analysis is key. That said, our team continues to identify idiosyncratic opportunities in the CMBS markets.
  • ·We also increased the portfolio’s allocation to mortgage-backed securities (MBS). Specifically, we have added to RMBS warehouse deals which we believe to have attractive relative value and spread pick-up.
  • ·The portfolio’s allocation to both investment grade and high yield corporate bonds decreased over the period. As mentioned above, as short-term investment grade corporate bond spreads tighten, they have been a source for funding investments in securitized products. In terms of short-maturity high yield exposure, the decrease was a result of idiosyncratic selling opportunities and not a signal that we are less constructive on the asset class. The low duration high yield corporate bond allocation, though modest relative to the predominantly investment grade portfolio, continues to be a key driver of alpha in the Fund.  

Portfolio Details as of 10/29/2021

Total Net Assets
$3.31 B
Number of Issues
1369
Average Coupon
2.65%
Average Life
2.23 Years
Average Maturity
2.24 Years
Average Effective Duration
1.63 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 12/06/2021
$0.272
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2021 $0.01998 $12.44
Daily Daily 10/31/2021 $0.01891 $12.49
Daily Daily 09/30/2021 $0.02022 $12.36
Daily Daily 08/31/2021 $0.02267 $12.29
Daily Daily 07/31/2021 $0.02194 $12.28
Daily Daily 06/30/2021 $0.02336 $12.15
Daily Daily 05/31/2021 $0.02329 $12.20
Daily Daily 04/30/2021 $0.02792 $12.13
Daily Daily 03/31/2021 $0.02993 $12.03
Daily Daily 02/28/2021 $0.03384 $11.86
Daily Daily 01/31/2021 $0.03027 $11.84

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2021

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 12/06/2021

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $12.70
$100,000 to $249,999 1.75% 1.50% $12.63
$250,000 to $499,999 1.25% 1.00% $12.57
$500,000 to $999,999 0.00% 1.00% $12.41
$1,000,000 to $5,000,000 0.00% 1.00% $12.41

Expense Ratioas of 11/30/2021

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Publish Date:11/03/2015
Fact Sheet
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