LISAX | Intermediate Tax Free Fund Class A | 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

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 01/21/2022  

w/o sales charge 1.90%
w/ sales charge 1.85%

30-Day Standardized Yield 2 as of 12/31/2021  

0.64%

Fund Basicsas of 12/31/2021

Total Net Assets
$6.77 B
Inception Date
06/30/2003
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
1303
Minimum Initial Investment
$1,000+

Expense Ratioas of 12/31/2021

Fund Expense Ratio :

0.70%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge 2.08% 2.08% 4.59% 3.98% 3.36% 3.80%
Lipper Category Avg. Intermediate Municipal Debt Funds 1.52% 1.52% 4.07% 3.41% 2.84% -
Bloomberg 1-15 Year Municipal Index 0.87% 0.87% 3.99% 3.57% 3.05% 3.73%
w/ sales charge -0.21% -0.21% 3.78% 3.52% 3.12% 3.67%

Fund Expense Ratio :

0.70%

Fund Expense Ratio :

0.70%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge 2.08% 2.08% 4.59% 3.98% 3.36% 3.80%
Lipper Category Avg. Intermediate Municipal Debt Funds 1.52% 1.52% 4.07% 3.41% 2.84% -
Bloomberg 1-15 Year Municipal Index 0.87% 0.87% 3.99% 3.57% 3.05% 3.73%
w/ sales charge -0.21% -0.21% 3.78% 3.52% 3.12% 3.67%

Fund Expense Ratio :

0.70%

RELATED CONTENT

What’s Behind Municipal Bonds’ Recent Volatility?
October 14, 2021

Concerns about rates and supply/demand factors have weighed on municipal bonds in recent weeks, but we expect that longer-term market fundamentals will remain positive

Sector Assets
Transportation
IDR/PCR
Healthcare/Hospital
GO State
GO Local
Lease
Special Tax
Education
Power
Water & Sewer
Muni_Pre-Refunded
Housing
Pre-Refunded
VRDN
Treasury
Other
Resource Recovery
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 12/31/2021 View Portfolio

Rating Assets
AAA
AA
A
BBB
< BBB
Not Rated

INVESTMENT TEAM

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

34 Years of Industry Experience

Daniel T. Vande Velde
Daniel T. Vande Velde

Partner & Portfolio Manager

31 Years of Industry Experience

Supported By 16 Investment Professionals with 13 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 01/21/2022  

w/o sales charge 1.90%
w/ sales charge 1.85%

30-Day Standardized Yield 2 as of 12/31/2021  

  Subsidized5 Un-Subsidized6
w/o sales charge 0.64% 0.64%

Fund Expense Ratio :

0.70%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge 2.08% 2.08% 4.59% 3.98% 3.36% 3.80%
Lipper Category Avg. Intermediate Municipal Debt Funds 1.52% 1.52% 4.07% 3.41% 2.84% -
Bloomberg 1-15 Year Municipal Index 0.87% 0.87% 3.99% 3.57% 3.05% 3.73%
w/ sales charge -0.21% -0.21% 3.78% 3.52% 3.12% 3.67%

Fund Expense Ratio :

0.70%

Fund Expense Ratio :

0.70%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2003
w/o sales charge 2.08% 2.08% 4.59% 3.98% 3.36% 3.80%
Lipper Category Avg. Intermediate Municipal Debt Funds 1.52% 1.52% 4.07% 3.41% 2.84% -
Bloomberg 1-15 Year Municipal Index 0.87% 0.87% 3.99% 3.57% 3.05% 3.73%
w/ sales charge -0.21% -0.21% 3.78% 3.52% 3.12% 3.67%

Fund Expense Ratio :

0.70%

Year Fund Returns Bloomberg 1-15 Year Municipal Index
2021 2.08% 0.87%
2020 4.15% 4.73%
2019 7.61% 6.44%
2018 1.13% 1.58%
2017 5.08% 4.33%
2016 -0.64% 0.01%
2015 2.86% 2.83%
2014 8.35% 6.36%
2013 -2.82% -1.05%
2012 6.40% 4.74%
2011 9.87% -
2010 3.49% -
2009 12.09% -
2008 -0.40% -
2007 3.44% -
2006 3.91% -
2005 1.50% -
2004 2.29% -
2003 1.16% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 -0.04% 2.04% -0.58% 0.65% 2.08%
2020 -3.08% 3.34% 1.21% 2.74% 4.15%
2019 2.98% 2.34% 1.55% 0.55% 7.61%
2018 -1.04% 1.02% -0.01% 1.17% 1.13%
2017 1.70% 1.84% 1.22% 0.24% 5.08%
2016 1.60% 2.28% 0.05% -4.43% -0.64%
2015 1.14% -1.15% 1.36% 1.50% 2.86%
2014 3.10% 2.37% 1.48% 1.17% 8.35%
2013 0.64% -3.29% -0.16% -0.01% -2.82%
2012 1.53% 1.78% 2.09% 0.85% 6.40%
2011 0.39% 3.79% 2.98% 2.40% 9.87%
2010 1.75% 1.95% 3.37% -3.48% 3.49%
2009 4.33% 1.79% 6.55% -0.94% 12.09%
2008 0.77% 0.04% -1.49% 0.31% -0.40%
2007 0.71% -0.77% 2.34% 1.14% 3.44%
2006 -0.16% -0.21% 3.44% 0.82% 3.91%
2005 -0.88% 2.24% -0.42% 0.58% 1.50%
2004 1.14% -2.23% 2.98% 0.45% 2.29%
2003 - - 0.16% 0.99% 1.16%

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

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

PORTFOLIO BREAKDOWN as of 12/31/2021

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

PORTFOLIO BREAKDOWN as of 12/31/2021

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 12/31/2021

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

Credit QUALITY DISTRIBUTION as of 12/31/2021

Rating Assets
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Positioning as of 09/30/2021

  • As the economy further reopens and recovers, we expect the credit fundamentals of the municipal market to remain positive. The credit outlook may continue to strengthen as the unprecedented fiscal spending over the last eighteen months continues to trickle down to state and local governments. Overall, in excess of $1 trillion in emergency aid was earmarked for municipalities, amounting to approximately one quarter of the total outstanding of municipal bonds. Given this strong credit backdrop, we are positive on credit risk and the Fund is overweight lower-rated, investment grade bonds. Additionally, while primarily invested in high quality bonds, the Fund is modestly overweight bonds rated below BBB relative to its benchmark due to relatively attractive credit spreads.
  • From a sector perspective, we currently favor the Transportation, Industrial Development, and Healthcare sectors.
  • On August 10, 2021, the U.S. Senate voted to pass the Infrastructure Investment and Jobs Act. The legislation provides nearly $1 trillion in total spending over the next five years, resulting in $550 billion in new spending. The Infrastructure Investment and Jobs Act is currently being debated on in the House of Representatives and some House members are fighting for the inclusion of advanced refunding and direct pay bonds, both of which were not included in the Senate’s version of the Bill. From a technical perspective, the reinstatement of advanced refunding could result in a notable increase in issuance for the municipal market.
  • The House of Representatives’ Ways and Means Committee has drafted legislation that, among other measures, would increase the rate on the top individual tax bracket from 37% to 39.6% for individuals earning more than $400,000 and households earning more than $450,000 as well as raise the corporate tax rate to 26.5%. An increase to the top individual tax bracket would allow high earners a higher tax-equivalent yield and potentially lead to a higher demand from the retail segment of the market, which has the largest ownership of municipal bonds. The next largest segment holding municipal bonds is financial services firms, such as banks and insurance companies. Should the corporate tax rate rise, it may result in growing demand from these firms as well for tax free bonds.

Portfolio Details as of 12/31/2021

Total Net Assets
$6.77 B
Number of Issues
1303
Average Coupon
4.5%
Average Effective Maturity
10.5 Years
Average Effective Duration
5.18 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 01/21/2022
$0
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 12/31/2021 $0.01766 $11.35
Daily Daily 11/30/2021 $0.01817 $11.36
Daily Daily 10/31/2021 $0.01772 $11.27
Daily Daily 09/30/2021 $0.01837 $11.33
Daily Daily 08/31/2021 $0.01795 $11.46
Daily Daily 07/31/2021 $0.01826 $11.52
Daily Daily 06/30/2021 $0.01931 $11.45
Daily Daily 05/31/2021 $0.02091 $11.42
Daily Daily 04/30/2021 $0.01998 $11.38
Daily Daily 03/31/2021 $0.01974 $11.28
Daily Daily 02/28/2021 $0.02149 $11.23
Daily Daily 01/31/2021 $0.02445 $11.45

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 01/31/2022
Daily Daily 02/28/2022
Daily Daily 03/31/2022
Daily Daily 04/30/2022
Daily Daily 05/31/2022
Daily Daily 06/30/2022
Daily Daily 07/31/2022
Daily Daily 08/31/2022
Daily Daily 09/30/2022
Daily Daily 10/31/2022
Daily Daily 11/30/2022
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

Sales Charge Schedule as of 01/21/2022

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $11.44
$100,000 to $249,999 1.75% 1.50% $11.38
$250,000 to $499,999 0.00% 1.00% $11.18
$500,000 to $999,999 0.00% 1.00% $11.18
$1,000,000 to $5,000,000 0.00% 1.00% $11.18

Expense Ratioas of 12/31/2021

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
n/a
Prospectus (XBRL)
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