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Multi-Asset Income Fund

Summary

Summary

What is the Multi-Asset Income Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in Lord Abbett Funds that invest in a wide variety of bonds along with select US and international stocks.

DIVERSE ASSETS

This Fund is designed with the flexibility to invest in bonds, stocks, and currencies from around the world.

TACTICALLY MANAGED

The investment team can rapidly shift allocations based on market opportunities and to hedge unwanted exposures.

HISTORICALLY DELIVERED HIGH INCOME WITH GROWTH

Led by a senior Investment Committee, the Fund has delivered competitive income with growth.

 

Yield

12-Month Dividend Yield 1 as of 04/07/2020  

w/o sales charge 1.99%

30-Day Standardized Yield 2 as of 02/29/2020  

1.76%

Fund Basicsas of 02/28/2020

Total Net Assets
$1.23 B
Inception Date
06/30/2005
Dividend Frequency
Monthly
Fund Expense Ratio
1.91%
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

1.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2005
w/o sales charge -13.66% -8.21% -0.93% 0.40% 3.57% 3.72%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds -9.99% -4.06% 1.14% 1.72% 4.07% -
Bloomberg Barclays U.S. Aggregate Bond Index 3.15% 8.93% 4.82% 3.36% 3.88% 4.27%
w/ sales charge -14.52% -8.21% -0.93% 0.40% 3.57% 3.72%

Fund Expense Ratio :

1.91%

Fund Expense Ratio :

1.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2005
w/o sales charge -13.66% -8.21% -0.93% 0.40% 3.57% 3.72%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds -9.99% -4.06% 1.14% 1.72% 4.07% -
Bloomberg Barclays U.S. Aggregate Bond Index 3.15% 8.93% 4.82% 3.36% 3.88% 4.27%
w/ sales charge -14.52% -8.21% -0.93% 0.40% 3.57% 3.72%

Fund Expense Ratio :

1.91%

Investment Team

martini
Giulio Martini

Partner, Director of Strategic Asset Allocation

35 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

29 Years of Industry Experience

Jeffrey Herzog
Jeffrey Herzog, Ph.D.

Portfolio Manager

11 Years of Industry Experience

David B. Ritt
David B. Ritt, CFA

Portfolio Manager

22 Years of Industry Experience

Supported By 7 Investment Professionals with 29 Years Avg. Industry Experience

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Performance

Performance

12-Month Dividend Yield 1 as of 04/07/2020  

w/o sales charge 1.99%

30-Day Standardized Yield 2 as of 02/29/2020  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.76% 1.76%

Fund Expense Ratio :

1.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2005
w/o sales charge -13.66% -8.21% -0.93% 0.40% 3.57% 3.72%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds -9.99% -4.06% 1.14% 1.72% 4.07% -
Bloomberg Barclays U.S. Aggregate Bond Index 3.15% 8.93% 4.82% 3.36% 3.88% 4.27%
w/ sales charge -14.52% -8.21% -0.93% 0.40% 3.57% 3.72%

Fund Expense Ratio :

1.91%

Fund Expense Ratio :

1.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2005
w/o sales charge -13.66% -8.21% -0.93% 0.40% 3.57% 3.72%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds -9.99% -4.06% 1.14% 1.72% 4.07% -
Bloomberg Barclays U.S. Aggregate Bond Index 3.15% 8.93% 4.82% 3.36% 3.88% 4.27%
w/ sales charge -14.52% -8.21% -0.93% 0.40% 3.57% 3.72%

Fund Expense Ratio :

1.91%

Year Fund Returns Bloomberg Barclays U.S. Aggregate Bond Index
2019 14.97% 8.72%
2018 -7.09% 0.01%
2017 8.29% 3.54%
2016 8.56% 2.65%
2015 -4.14% 0.55%
2014 2.73% 5.97%
2013 9.97% -2.02%
2012 11.96% 4.22%
2011 0.32% 7.84%
2010 11.87% 6.54%
2009 34.94% -
2008 -23.90% -
2007 2.27% -
2006 9.36% -
2005 1.17% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -13.66% - - - -13.21%
2019 8.14% 2.38% -0.48% 4.34% 14.97%
2018 -0.36% 0.22% 2.63% -9.35% -7.09%
2017 2.70% 1.45% 1.90% 2.00% 8.29%
2016 0.38% 2.65% 3.79% 1.50% 8.56%
2015 1.89% -0.26% -5.43% -0.25% -4.14%
2014 2.21% 2.83% -2.17% -0.09% 2.73%
2013 3.90% -0.83% 3.38% 3.25% 9.97%
2012 6.59% -2.02% 4.24% 2.85% 11.96%
2011 3.82% 0.69% -8.79% 5.21% 0.32%
2010 3.87% -3.30% 7.17% 3.93% 11.87%
2009 0.66% 13.73% 12.55% 4.72% 34.94%
2008 -4.93% 0.43% -8.09% -13.28% -23.90%
2007 2.12% 1.12% 0.58% -1.53% 2.27%
2006 1.85% -0.09% 3.34% 4.00% 9.36%
2005 - - 0.83% 0.34% 1.17%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 12/31/2019

  • Risk assets rose across the board, with the S&P 500 rising 9.07% and bonds rallying during the quarter as well. The Fed cut its benchmark interest rate in October to a target range of 1.5%-1.75%, subsequently leaving the range unchanged in December and indicating that no action is likely next year amid persistently low inflation. In addition to the Fed’s continued accommodative stance, trade tensions subsided dramatically after U.S. President Donald Trump announced a “phase one” trade deal with China, set to be signed sometime in January. Finally, U.K. Prime Minister Boris Johnson’s Conservative Party won a commanding majority in the country’s general election, granting Johnson the power to drive through his Brexit deal and take the U.K. out of the EU before the January 31 deadline.
  • The broad general U.S. bond market, as measured by the Bloomberg Barclays Aggregate Bond Index, was positive for the quarter. High yield corporate bonds experienced positive returns for the quarter, returning 2.61%, with modest spread compression. Higher-quality tiers of the high yield market outperformed during most of the period before a sharp rally occurred in the “CCC” segment in December.
  • In today’s environment in which there has been a bias towards perceived safety, we believe there is more opportunity in risk assets. The investment climate remains favorable for harvesting carry, where bank loans and high yield bonds are attractive options.
  • We increased the portfolio’s allocation towards leveraged loans, investment grade bonds, and international equities this quarter. The portfolio’s allocation to short duration bonds and U.S. equities was reduced.
Holding Assets
High Yield Fund 16.7%
Ultra Short Bond Fund 15.2%
Fundamental Equity Fund 10.5%
Core Fixed Income Fund 9.8%
Floating Rate Fund 6.1%
Emerging Markets Bond Fund 5.4%
Convertible Fund 5.2%
Inflation Focused Fund 5.1%
International Equity Fund 5.1%
Growth Leaders Fund 4.9%
International Value Fund 4.9%
Growth Opportunities Fund 4.1%
Mid Cap Stock Fund 2.9%
Holding Assets
FX TWD/USD 04/200.8%
FX HUF/USD 04/200.8%
FX ILS/USD 04/200.8%
FX PEN/USD 04/200.8%
FX KRW/USD 04/200.8%
FX MXN/USD 04/200.4%
FX RUB/USD 04/200.4%
FX INR/USD 04/200.4%
FX TRY/USD 04/200.4%
FX ZAR/USD 04/200.4%
FX RUB/USD 04/200.4%
FX MXN/USD 04/200.4%
FX ZAR/USD 04/200.4%
FX INR/USD 04/200.4%
FX TRY/USD 04/200.4%
FX USD/HUF 04/200.0%
FX USD/PEN 04/20-0.4%
FX USD/ILS 04/20-0.4%
FX USD/KRW 04/20-0.4%
FX USD/HUF 04/20-0.4%
FX USD/TWD 04/20-0.4%
FX USD/ILS 04/20-0.4%
FX USD/TWD 04/20-0.4%
FX USD/PEN 04/20-0.4%
FX USD/KRW 04/20-0.4%
FX USD/HUF 04/20-0.4%
FX USD/TRY 04/20-0.8%
FX USD/RUB 04/20-0.8%
FX USD/ZAR 04/20-0.8%
FX USD/MXN 04/20-0.8%
FX USD/INR 04/20-0.8%
FX Vol Swap USD/JPY 6.975% 10/23/20-7.0%
FX Vol Swap USD/JPY 6.75% 5/14/20-7.0%
S&P500 EMINI FUT MAR20-7.0%
FX Vol Swap EUR/USD 5.95% 10/23/20-7.0%
FX Vol Swap EUR/USD 5.425% 5/14/20-7.0%

Equity Sector Allocation as of 02/28/2020

Rating Assets
Information Technology
Financials
Health Care
Consumer Discretionary
Industrials
Telecommunication Services
Consumer Staples
Energy
Materials
Utilities
Real Estate
Unclassified

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 04/07/2020
$0.039
Dividend Frequency
Monthly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
03/30/2020 03/31/2020 03/31/2020 $0.01770 $13.32
02/27/2020 02/28/2020 02/28/2020 $0.00980 $14.97
01/30/2020 01/31/2020 01/31/2020 $0.01170 $15.39

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
04/29/2020 04/30/2020 04/30/2020
05/28/2020 05/29/2020 05/29/2020
06/29/2020 06/30/2020 06/30/2020
07/30/2020 07/31/2020 07/31/2020
08/27/2020 08/28/2020 08/28/2020
09/29/2020 09/30/2020 09/30/2020
10/29/2020 10/30/2020 10/30/2020
11/24/2020 11/25/2020 11/25/2020
12/29/2020 12/30/2020 12/30/2020

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/21/2015 12/22/2015 $0.3429 $0.0172 $0.3601 $13.72

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
12/21/2020 12/22/2020

Fees & Expenses

Fees & Expenses

Expense Ratioas of 03/31/2020

1.91%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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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
Commentary
Publish Date:11/03/2015
Capital Markets Presentation
Publish Date:11/03/2015
Brochure
Publish Date:11/03/2015

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Class C - Class C shares are subject to ongoing 12b-1 service and distribution fees as well as a maximum CDSC of 1 percent if you redeem your shares before the first anniversary of your original purchase.

Class C shares are only offered to certain eligible investors.  For additional information, see the Fund’s current prospectus.

The Barclays U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. 

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