LIFAX | Inflation Focused Fund Class A | 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

Average Yield to Maturity as of 05/30/2025

5.26%

Distribution Yield as of 06/18/2025  

4.73%

30-Day Standardized Yield 1 as of 05/31/2025  

4.52%

Fund Basicsas of 05/30/2025

Total Net Assets
$758.13 M
Inception Date
04/29/2011
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.79%
Fund Net Expense Ratio
0.79%
Number of Holdings
753
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 0.79%

Net 0.79%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 3.65% 6.41% 2.83% 6.59% 2.99% 2.09%
Lipper Category Avg. Inflation Protected Bond Funds 3.38% 5.14% 1.26% 2.13% 2.18% -
Bloomberg U.S. TIPS 1-5 Year Index 3.87% 6.97% 2.97% 3.66% 2.77% 2.06%
w/ sales charge 1.29% 3.99% 2.05% 6.09% 2.75% 1.92%

Fund Expense Ratio :

Gross 0.79%

Net 0.79%

Fund Expense Ratio :

Gross 0.79%

Net 0.79%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 3.24% 6.93% 2.54% 8.02% 3.06% 2.08%
Lipper Category Avg. Inflation Protected Bond Funds 3.76% 5.62% 0.51% 2.94% 2.20% -
Bloomberg U.S. TIPS 1-5 Year Index 3.40% 7.27% 2.91% 4.00% 2.79% 2.05%
w/ sales charge 0.89% 4.49% 1.77% 7.54% 2.83% 1.91%

Fund Expense Ratio :

Gross 0.79%

Net 0.79%

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

Credit Quality Distribution as of 05/30/2025 View Portfolio

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

INVESTMENT TEAM

Kewjin Yuoh
Kewjin Yuoh

Partner, Portfolio Manager

31 Years of Industry Experience

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

Partner, Portfolio Manager

27 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

24 Years of Industry Experience

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

Partner & Portfolio Manager

24 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

34 Years of Industry Experience

Supported By 86 Investment Professionals with 17 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 05/30/2025

5.26%

Distribution Yield as of 06/18/2025  

4.73%

30-Day Standardized Yield 1 as of 05/31/2025  

  Subsidized2 Un-Subsidized3
w/o sales charge 4.52% 4.52%

Fund Expense Ratio :

Gross 0.79%

Net 0.79%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 3.65% 6.41% 2.83% 6.59% 2.99% 2.09%
Lipper Category Avg. Inflation Protected Bond Funds 3.38% 5.14% 1.26% 2.13% 2.18% -
Bloomberg U.S. TIPS 1-5 Year Index 3.87% 6.97% 2.97% 3.66% 2.77% 2.06%
w/ sales charge 1.29% 3.99% 2.05% 6.09% 2.75% 1.92%

Fund Expense Ratio :

Gross 0.79%

Net 0.79%

Fund Expense Ratio :

Gross 0.79%

Net 0.79%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 3.24% 6.93% 2.54% 8.02% 3.06% 2.08%
Lipper Category Avg. Inflation Protected Bond Funds 3.76% 5.62% 0.51% 2.94% 2.20% -
Bloomberg U.S. TIPS 1-5 Year Index 3.40% 7.27% 2.91% 4.00% 2.79% 2.05%
w/ sales charge 0.89% 4.49% 1.77% 7.54% 2.83% 1.91%

Fund Expense Ratio :

Gross 0.79%

Net 0.79%

Year Fund Returns Bloomberg U.S. TIPS 1-5 Year Index
2024 4.90% 4.39%
2023 4.10% 4.44%
2022 -4.85% -3.96%
2021 10.29% 5.53%
2020 5.93% 5.70%
2019 4.86% 5.08%
2018 -1.28% 0.41%
2017 1.33% 0.80%
2016 4.96% 3.13%
2015 -2.22% -0.14%
2014 -5.20% -
2013 -1.76% -
2012 9.87% -
Year Q1 Q2 Q3 Q4
2025 3.24% - - -
2024 1.28% 1.35% 2.35% -0.15%
2023 2.70% -1.12% -0.19% 2.71%
2022 -0.49% -4.02% -2.27% 1.94%
2021 4.26% 1.62% 2.27% 1.79%
2020 -14.80% 10.55% 6.13% 5.96%
2019 2.60% 0.41% -1.37% 3.19%
2018 0.40% 0.95% 0.71% -3.28%
2017 0.73% -1.53% 1.13% 1.01%
2016 -0.90% -0.65% 2.45% 4.05%
2015 -0.17% 1.72% -4.68% 1.03%
2014 0.02% 2.20% -2.74% -4.66%
2013 0.51% -3.67% 1.32% 0.15%
2012 5.40% -0.99% 3.16% 2.05%

Growth of $10,000 as of 05/31/2025

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

Credit Quality Distribution as of 05/30/2025

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

Portfolio Positioning as of 12/31/2024

  • The Fund maintains an allocation to CPI Swaps designed to protect investors’ purchasing power during periods of rising inflation. As inflation expectations increased for most of the period, the Fund’s inflation protection led to a positive impact on performance.
  • The portfolio’s allocation to investment grade corporate bonds was one of the primary contributors to relative returns, particularly within the Financial, Energy and Consumer sectors.  Within Financials, we continue to favor diversified financial institutions with strong management teams and business models less dependent on deposits. Over the quarter, we decreased the portfolio’s allocation to investment grade corporates, monetizing positions mainly within the Financial and Utility sectors that have performed well.
  • The portfolio’s allocation to short-term high yield corporate bonds also contributed to relative performance given the sector’s greater carry over the benchmark. Over the quarter, we increased the portfolio’s exposure to the sector, focusing on higher-rated securities with short average lives as well as positions we believe have the potential to be upgraded to investment grade.  
  • An allocation to asset backed securities led to a positive impact on relative performance given a compression of ABS credit spreads and the sector’s outperformance.
  • The portfolio’s modest allocation to emerging market (EM) sovereign bonds slightly detracted from relative performance. Although these holdings represent a small portion of the portfolio, we view EM sovereigns as a high-quality, liquid means to enhance carry. We are focused on individual opportunities in the sector that are attractive from a bottom-up perspective.
  • The portfolio’s longer duration positioning relative to the index detracted from relative performance as yields moved higher over the period.
  • There were no other significant detractors over the period.

Portfolio Details as of 05/30/2025

Total Net Assets
$758.13 M
Average Effective Duration
2.95 Years
Average Life
2.37 Years
Average Maturity
2.37 Years
Number of Issues
753
Average Yield to Maturity
5.26%
Distribution Yield (as of 06/18/2025)
4.73%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 06/18/2025
$0.23044
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 05/31/2025 $0.04632 $11.77
Daily Daily 04/30/2025 $0.05006 $11.81
Daily Daily 03/31/2025 $0.04583 $11.82
Daily Daily 02/28/2025 $0.04412 $11.76
Daily Daily 01/31/2025 $0.04411 $11.67

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 06/30/2025
Daily Daily 07/31/2025
Daily Daily 08/31/2025
Daily Daily 09/30/2025
Daily Daily 10/31/2025
Daily Daily 11/30/2025
Daily Daily 12/31/2025

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 06/18/2025

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $12.03
$100,000 to $249,999 1.75% 1.50% $11.97
$250,000 to $499,999 1.25% 1.00% $11.91
Greater than $500,000 0.00% 1.00% $11.76

Expense Ratioas of 05/31/2025

Fund Gross Expense Ratio 0.79%
Fund Net Expense Ratio 0.79%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Tailored Shareholder Report
Publish Date:11/03/2015
Semi-Annual Tailored Shareholder Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
* includes items 7-11 of form N-CSR as required, if any.

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