LAIIX | Intermediate Tax Free Fund Class I | Lord Abbett

Tracked Funds

You have 0 funds on your mutual fund watch list.

Begin by selecting funds to create a personalized watch list.

(as of 12/05/2015)

Pending Orders

You have 0 items in your cart.

Subscribe and order forms, fact sheets, presentations, and other documents that can help advisers grow their business.

 

Intermediate Tax Free Fund

Track this Fund
Add to Hypo Tool

Summary

Summary

What is the Intermediate Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal taxation by investing primarily in intermediate-term investment grade municipal bonds.

 

Yield

Dividend Yield 1 as of 12/07/2022  

w/o sales charge 2.78%

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

3.41%

Fund Basicsas of 10/31/2022

Total Net Assets
$4.86 B
Inception Date
01/31/2011
Dividend Frequency
Monthly
Fund Expense Ratio
0.50%
Number of Holdings
1099
Minimum Initial Investment

Fund Expense Ratio :

0.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2011
w/o sales charge -10.05% -9.97% -1.24% 1.12% 1.70% 2.98%
Lipper Category Avg. Intermediate Municipal Debt Funds -7.75% -7.66% -0.62% 1.09% 1.35% -
Bloomberg 1-15 Year Municipal Index -6.39% -6.26% -0.27% 1.51% 1.80% 2.77%

Fund Expense Ratio :

0.50%

Fund Expense Ratio :

0.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2011
w/o sales charge -12.89% -12.28% -2.20% 0.37% 1.58% 2.74%
Lipper Category Avg. Intermediate Municipal Debt Funds -10.47% -10.00% -1.52% 0.38% 1.19% -
Bloomberg 1-15 Year Municipal Index -9.21% -8.86% -1.12% 0.76% 1.64% 2.54%

Fund Expense Ratio :

0.50%

The Muni Quarterly

The Muni Quarterly offers insights from our analysts on key topics for municipal bond investors, along with essential market information.

Sector Assets
IDR/PCR
Transportation
Healthcare/Hospital
GO Local
GO State
Lease
Education
Special Tax
Power
Water & Sewer
Pre-Refunded
Other
Housing
VRDN
Treasury
Maturity Assets
<1 Year
1-3 Years
3-5 Years
5-7 Years
7-9 Years
9-12 Years
12-15 Years
15-18 Years
18-25 Years
25-30 Years
30+ Years

CREDIT QUALITY DISTRIBUTION as of 10/31/2022 View Portfolio

Rating Assets
A-1/MIG1
A-2/MIG2
AAA
AA
A
BBB
< BBB
Not Rated

INVESTMENT TEAM

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

35 Years of Industry Experience

Daniel T. Vande Velde
Daniel T. Vande Velde

Partner & Portfolio Manager

32 Years of Industry Experience

Daniel S. Solender
Christopher T. English, CFA

Portfolio Manager

12 Years of Industry Experience

Supported By 15 Investment Professionals with 14 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Dividend Yield 1 as of 12/07/2022  

w/o sales charge 2.78%

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

  Subsidized5 Un-Subsidized6
w/o sales charge 3.41% 3.41%

Fund Expense Ratio :

0.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2011
w/o sales charge -10.05% -9.97% -1.24% 1.12% 1.70% 2.98%
Lipper Category Avg. Intermediate Municipal Debt Funds -7.75% -7.66% -0.62% 1.09% 1.35% -
Bloomberg 1-15 Year Municipal Index -6.39% -6.26% -0.27% 1.51% 1.80% 2.77%

Fund Expense Ratio :

0.50%

Fund Expense Ratio :

0.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2011
w/o sales charge -12.89% -12.28% -2.20% 0.37% 1.58% 2.74%
Lipper Category Avg. Intermediate Municipal Debt Funds -10.47% -10.00% -1.52% 0.38% 1.19% -
Bloomberg 1-15 Year Municipal Index -9.21% -8.86% -1.12% 0.76% 1.64% 2.54%

Fund Expense Ratio :

0.50%

Year Fund Returns Bloomberg 1-15 Year Municipal Index
2021 2.28% 0.87%
2020 4.35% 4.73%
2019 7.82% 6.44%
2018 1.33% 1.58%
2017 5.29% 4.33%
2016 -0.45% 0.01%
2015 3.06% 2.83%
2014 8.56% 6.36%
2013 -2.63% -1.05%
2012 6.59% 4.74%
2011 10.80% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -6.62% -3.77% -3.05% - -9.28%
2021 0.01% 2.09% -0.52% 0.70% 2.28%
2020 -3.03% 3.39% 1.35% 2.70% 4.35%
2019 3.03% 2.39% 1.60% 0.60% 7.82%
2018 -0.99% 1.07% 0.04% 1.22% 1.33%
2017 1.75% 1.89% 1.27% 0.29% 5.29%
2016 1.64% 2.33% 0.10% -4.39% -0.45%
2015 1.19% -1.10% 1.41% 1.55% 3.06%
2014 3.15% 2.42% 1.62% 1.12% 8.56%
2013 0.69% -3.24% -0.11% 0.04% -2.63%
2012 1.58% 1.83% 2.23% 0.80% 6.59%
2011 - 3.94% 3.02% 2.35% 10.80%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

PORTFOLIO BREAKDOWN as of 10/31/2022

Sector Assets
IDR/PCR
Transportation
Healthcare/Hospital
GO Local
GO State
Lease
Education
Special Tax
Power
Water & Sewer
Pre-Refunded
Other
Housing
VRDN
Treasury

PORTFOLIO BREAKDOWN as of 10/31/2022

Maturity Assets
<1 Year
1-3 Years
3-5 Years
5-7 Years
7-9 Years
9-12 Years
12-15 Years
15-18 Years
18-25 Years
25-30 Years
30+ Years

PORTFOLIO BREAKDOWN as of 10/31/2022

Rating Assets
NY
IL
CA
NJ
TX
PA
FL
GA
AL
OH
Puerto Rico
CT
AZ
LA
KY
IN
CO
MI
MA
TN
WI
VA
MD
NC
WA
UT
SC
HI
OR
MO
DE
DC
IA
NV
MN
NH
OK
WV
ID
RI
MS
ND
VT
KS
AK
NE
Other U.S. Territories
SD
NM

Credit QUALITY DISTRIBUTION as of 10/31/2022

Rating Assets
A-1/MIG1
A-2/MIG2
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Positioning as of 9/30/2022

  • Given the recent rate volatility, the team has been focused on bond structure, including coupon, call protection, and convexity profile, as this has been a primary driver of performance in the current environment. More specifically, we have been selling select bonds priced close to par and buying deep discount or premium bonds due to inherent asymmetry of risk and convexity dynamic. Similarly, we prefer longer call bonds to shorter call bonds because, while both call structures have similar downside, longer call bonds have superior upside potential.
  • We have shortened average maturity since the start of the year, but generally remain overweight longer maturity bonds compared to the benchmark due to relative value opportunities and a relatively steeper yield curve. Although this has detracted year to date, we feel this positioning will contribute to performance in the long term. In terms of yield curve positioning, we are finding some of the most attractive risk/reward profiles in the 9–12-year range.
  • The Fund is overweight the Transportation, IDR and Health Care sectors. We believe the Transportation sector will continue to benefit from pent-up consumer demand after limited travel during the pandemic. Additionally, many parts of the segment are deemed essential and have received significant Federal support over the last few years. The Industrial Development sector is a diversified sector covering many corporate issuers and has a strong liquidity profile given its larger buyer base. Furthermore, many issuers within the sector have strong balance sheets, which we believe will help withstand any potential economic contraction. The Health Care sector has experienced some pressure due to higher costs and staffing shortages, but we continue to find opportunities in larger Hospital systems with strong credit fundamentals. Additionally, the sector has proven resilient during past economic downturns.
  • Given the strong credit backdrop, we are positive on credit risk and the Fund is overweight lower-rated, investment grade bonds. Additionally, while primarily invested in higher quality bonds, the Fund is modestly overweight non-investment grade bonds relative to its benchmark due to relatively attractive risk-adjusted spread.

Portfolio Details as of 10/31/2022

Total Net Assets
$4.86 B
Number of Issues
1099
Average Coupon
4.5%
Average Effective Maturity
8.9 Years
Average Effective Duration
5.78 Years
Average Yield to Worst
4.62%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 12/07/2022
$0.232
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2022 $0.02329 $9.98
Daily Daily 10/31/2022 $0.02247 $9.61
Daily Daily 09/30/2022 $0.02199 $9.71
Daily Daily 08/31/2022 $0.02138 $10.10
Daily Daily 07/31/2022 $0.02091 $10.32
Daily Daily 06/30/2022 $0.02123 $10.08
Daily Daily 05/31/2022 $0.02076 $10.29
Daily Daily 04/30/2022 $0.02092 $10.21
Daily Daily 03/31/2022 $0.02020 $10.54
Daily Daily 02/28/2022 $0.02059 $10.91
Daily Daily 01/31/2022 $0.01893 $11.01

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

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

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/20/2016 12/21/2016 $0.0039 - $0.0039 $10.51

Upcoming Capital Gain Distribution

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date
12/21/2022 12/22/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 11/30/2022

0.50%

Fund Documents

Fund Documents

Download fund documents & literature, create email subscriptions, and place direct mail order

0Documents selected
Order
n/a
Portfolio Holdings 1Q
Publish Date:11/03/2015
n/a
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
n/a
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

To order literature visit full website

You may add to your cart by selecting quantities in each row below.

No rows selected. Please Go back and select at least one fund document

 
Quantity
Quantity
Remove
Remove

The Bloomberg 1-15 Year Municipal Bond index is the 1-15 year component of the Municipal Bond index. The Bloomberg Municipal Bond Index is a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market. The index is a broad measure of the municipal bond market with maturities of at least one year.  To be included in the index, bonds must be rated investment-grade (Baa3/BBB- or higher) by at least two of the following ratings agencies: Moody's, S&P, Fitch. If only two of the three agencies rate the security, the lower rating is used to determine index eligibility. If only one of the three agencies rates a security, the rating must be investment-grade. They must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate, have a dated-date after December 31, 1990, and must be at least one year from their maturity date.

Select funds to run a Morningstar Hypothetical Report.

    Please confirm your literature shipping address

    Please review the address information below and make any necessary changes.

    All literature orders will be shipped to the address that you enter below. This information can be edited at any time.

    Current Literature Shipping Address

    * Required field