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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 11/13/2019  

w/o sales charge 3.11%

30-Day Standardized Yield 2 as of 10/31/2019  

2.14%

Fund Basicsas of 09/30/2019

Total Net Assets
$1.30 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Expense Ratio
1.42%

Fund Expense Ratio :

1.42%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 11.59% 6.89% 4.91% 3.37% 6.12% 4.86%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds 10.93% 9.04% 5.18% 3.82% 5.58% -
Bloomberg Barclays U.S. Aggregate Bond Index 8.85% 11.51% 3.29% 3.24% 3.73% 4.28%

Fund Expense Ratio :

1.42%

Fund Expense Ratio :

1.42%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 10.55% 0.35% 4.55% 3.40% 6.07% 4.81%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds 10.14% 4.95% 4.55% 3.87% 5.45% -
Bloomberg Barclays U.S. Aggregate Bond Index 8.52% 10.30% 2.92% 3.38% 3.75% 4.29%

Fund Expense Ratio :

1.42%

Investment Team

martini
Giulio Martini

Partner, Director of Strategic Asset Allocation

34 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Jeffrey Herzog
Jeffrey Herzog, Ph.D.

Portfolio Manager

10 Years of Industry Experience

David B. Ritt
David B. Ritt, CFA

Portfolio Manager

21 Years of Industry Experience

Supported By 8 Investment Professionals with 27 Years Avg. Industry Experience

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Performance

Performance

12-Month Dividend Yield 1 as of 11/13/2019  

w/o sales charge 3.11%

30-Day Standardized Yield 2 as of 10/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.14% 2.14%

Fund Expense Ratio :

1.42%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 11.59% 6.89% 4.91% 3.37% 6.12% 4.86%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds 10.93% 9.04% 5.18% 3.82% 5.58% -
Bloomberg Barclays U.S. Aggregate Bond Index 8.85% 11.51% 3.29% 3.24% 3.73% 4.28%

Fund Expense Ratio :

1.42%

Fund Expense Ratio :

1.42%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 10.55% 0.35% 4.55% 3.40% 6.07% 4.81%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds 10.14% 4.95% 4.55% 3.87% 5.45% -
Bloomberg Barclays U.S. Aggregate Bond Index 8.52% 10.30% 2.92% 3.38% 3.75% 4.29%

Fund Expense Ratio :

1.42%

Year Fund Returns Bloomberg Barclays U.S. Aggregate Bond Index
2018 -6.64% 0.01%
2017 8.83% 3.54%
2016 9.10% 2.65%
2015 -3.62% 0.55%
2014 3.26% 5.97%
2013 10.48% -2.02%
2012 12.58% 4.22%
2011 0.81% 7.84%
2010 12.42% 6.54%
2009 35.54% 5.93%
2008 -23.44% -
2007 2.37% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 8.26% 2.56% -0.43% - 12.72%
2018 -0.31% 0.43% 2.73% -9.23% -6.64%
2017 2.80% 1.53% 2.06% 2.16% 8.83%
2016 0.45% 2.75% 3.91% 1.73% 9.10%
2015 2.04% -0.20% -5.31% -0.05% -3.62%
2014 2.29% 2.99% -2.07% 0.09% 3.26%
2013 4.00% -0.72% 3.47% 3.41% 10.48%
2012 6.71% -1.91% 4.41% 3.01% 12.58%
2011 3.98% 0.82% -8.70% 5.31% 0.81%
2010 4.02% -3.22% 7.36% 4.02% 12.42%
2009 0.71% 13.91% 12.64% 4.90% 35.54%
2008 -4.78% 0.56% -7.97% -13.11% -23.44%
2007 2.26% 1.21% 0.34% -1.42% 2.37%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 09/30/2019

  • Risk assets rose almost across the board, with the S&P 500 rising 1.7% and bonds rallying during the quarter as well. The only asset class exhibiting negative returns was non-U.S. equities. The U.S. Federal Reserve cut rates by 25 basis points in July which it announced as insurance against uncertainties as opposed to a shift to monetary policy easing. Despite the accommodative stance, market sentiment shifted to largely risk-off. The shift was driven primarily by the escalating trade tensions between the U.S. and China. Finally, the month of September saw a strong rally in the U.S. equity markets as the U.S. and China agreed to meet in Washington in October to discuss trade, as tensions in Hong Kong eased, as the ECB approved a new asset purchase program, and as a no-deal Brexit became less likely.
  • September shifted to a more risk-on attitude. This was evidenced by factor returns shifting late in the quarter, with value outperforming growth, small caps outperforming large caps, the U.S. dollar outperforming the Japanese yen and short gold positions falling.
  • In today’s environment where equity dividend yields are higher than Treasury yields and where inflation break-evens are falling while consumer prices are exceeding market expectations, we believe that opportunities exist in the equity income and inflation protection spaces.
  • We increased the portfolio’s allocation towards large cap U.S. equities and international equities this quarter. The portfolio’s allocation to convertible bonds was reduced while we maintained the portfolio’s exposure to high yield and short duration bonds.
Holding Assets
Ultra Short Bond Fund 20.6%
High Yield Fund 16.5%
Convertible Fund 11.4%
Fundamental Equity Fund 9.6%
Mid Cap Stock Fund 8.4%
Inflation Focused Fund 6.5%
International Equity Fund 5.5%
International Value Fund 5.5%
Growth Opportunities Fund 5.4%
Emerging Markets Bond Fund 5.3%
Growth Leaders Fund 3.2%
Core Fixed Income Fund 1.0%
Holding Assets
SPX Put Option Citi (2265.89) 5/18/203.0%
SPX Put Option Citi (2549.13) 5/18/203.0%
SPX Call Option Citi (3115.60) 5/18/203.0%
S&P500 EMINI FUT DEC191.9%
MSCI EAFE DEC191.5%
MSCI EMGMKT DEC190.5%

Equity Sector Allocation as of 09/30/2019

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 11/13/2019
$0.210
Dividend Frequency
Monthly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
10/30/2019 10/31/2019 10/31/2019 $0.01840 $14.85
09/26/2019 09/27/2019 09/27/2019 $0.02270 $14.71
08/29/2019 08/30/2019 08/30/2019 $0.01510 $14.73
07/30/2019 07/31/2019 07/31/2019 $0.01860 $14.90
06/27/2019 06/28/2019 06/28/2019 $0.03680 $14.85
05/30/2019 05/31/2019 05/31/2019 $0.01610 $14.48
04/29/2019 04/30/2019 04/30/2019 $0.01850 $14.81
03/28/2019 03/29/2019 03/29/2019 $0.03270 $14.55
02/27/2019 02/28/2019 02/28/2019 $0.01830 $14.54
01/30/2019 01/31/2019 01/31/2019 $0.01370 $14.24

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
11/26/2019 11/27/2019 11/27/2019
12/26/2019 12/27/2019 12/27/2019

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 $13.54

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
12/19/2019 12/20/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 10/31/2019

1.42%

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 R3 - The performance quotations for Class R3 reflect the following methods of calculation: (a) for periods prior to the inception date for Class R3, a restated figure is used based on the Fund's Class A performance, excluding the effect of Class A's maximum sales charge (which does not apply to Class R3, adjusted to reflect the Rule 12b-1 rate differential between Class A and Class R3, which has a higher 12b-1 fee than Class A; and (b) for periods after the inception date for Class R3, actual Class R3 performance is used reflecting all charges and fees applicable to Class R3 shares. Hypothetical performance data for Class R3, as measured from since inception of the Fund using the methodology described above, is not available if the Class A inception date is equal or greater than ten years old. Please refer to the Class R3 performance information for the inception date for Class R3. Please refer to the Class A performance information for the inception date for Class A.

Class R3 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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