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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 08/19/2019  

w/o sales charge 3.68%

30-Day Standardized Yield 2 as of 07/31/2019  

2.59%

Fund Basicsas of 07/31/2019

Total Net Assets
$1.34 B
Inception Date
06/30/2015
Dividend Frequency
Monthly
Fund Expense Ratio
0.92%

Fund Expense Ratio :

0.92%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 11.94% 3.83% 5.97% 3.96% 7.32% -
Lipper Category Avg. Mixed-Asset Target Alloc Consv Funds 9.33% 4.54% 4.43% 3.67% 5.88% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.35% 8.08% 2.17% 3.05% 3.75% -

Fund Expense Ratio :

0.92%

Fund Expense Ratio :

0.92%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 11.29% 4.07% 6.55% 3.56% 7.91% -
Lipper Category Avg. Mixed-Asset Target Alloc Consv Funds 8.97% 5.38% 4.94% 3.39% 6.31% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.11% 7.87% 2.31% 2.95% 3.90% -

Fund Expense Ratio :

0.92%

RELATED CONTENT

Asset Allocation: Why Active Management Matters
April 17, 2017

One attraction of actively managed multi-asset funds is their flexibility to capitalize on divergent performance across asset classes through tactical allocation

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 08/19/2019  

w/o sales charge 3.68%

30-Day Standardized Yield 2 as of 07/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.59% 2.59%

Fund Expense Ratio :

0.92%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 11.94% 3.83% 5.97% 3.96% 7.32% -
Lipper Category Avg. Mixed-Asset Target Alloc Consv Funds 9.33% 4.54% 4.43% 3.67% 5.88% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.35% 8.08% 2.17% 3.05% 3.75% -

Fund Expense Ratio :

0.92%

Fund Expense Ratio :

0.92%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 11.29% 4.07% 6.55% 3.56% 7.91% -
Lipper Category Avg. Mixed-Asset Target Alloc Consv Funds 8.97% 5.38% 4.94% 3.39% 6.31% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.11% 7.87% 2.31% 2.95% 3.90% -

Fund Expense Ratio :

0.92%

Year Fund Returns Bloomberg Barclays U.S. Aggregate Bond Index
2018 -6.21% 0.01%
2017 9.42% 3.54%
2016 9.68% 2.65%
2015 -3.18% 0.55%
2014 3.70% 5.97%
2013 11.07% -2.02%
2012 13.10% 4.22%
2011 1.29% 7.84%
2010 12.93% 6.54%
2009 36.36% 5.93%
2008 -23.10% -
2007 3.28% -
2006 10.42% -
2005 - -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 8.44% 2.63% - - 10.58%
2018 -0.19% 0.49% 2.94% -9.17% -6.21%
2017 2.94% 1.67% 2.19% 2.30% 9.42%
2016 0.57% 2.96% 4.06% 1.79% 9.68%
2015 2.17% -0.08% -5.22% 0.06% -3.18%
2014 2.42% 3.12% -1.95% 0.14% 3.70%
2013 4.14% -0.60% 3.61% 3.55% 11.07%
2012 6.87% -1.80% 4.56% 3.08% 13.10%
2011 4.12% 0.88% -8.56% 5.46% 1.29%
2010 4.09% -3.05% 7.43% 4.16% 12.93%
2009 0.94% 14.00% 12.82% 5.04% 36.36%
2008 -4.67% 0.69% -7.88% -13.03% -23.10%
2007 2.40% 1.34% 0.84% -1.30% 3.28%
2006 2.11% 0.12% 3.57% 4.29% 10.42%
2005 - - 1.06% 0.61% -

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 06/30/2019

  • Risk assets continued their rally with only the month of May, as an outlier, showing signs of weakness following an announcement that the U.S. would move forward with tariff increases on imports from China. In Emerging Markets, during the month of April, concerns over supply and an announcement by the Trump Administration ending waivers on Iranian oil sanctions sent the commodity’s price notably higher.
  • Given weaker economic data from around the globe, risks to the trade outlook, and persisting low inflation, the U.S. Federal Reserve (Fed) and the European Central Bank (ECB) signaled monetary stimulus in June. This reversed the softness in May, leading risk assets such as equities and credit to experience a rally.
  • Credit spreads continued to tighten after widening significantly at the tail end of 2018. We believe there is still room to tighten further given valuations are well below recent peaks. Thus, the risk/reward profile of risk assets such as convertibles, high yield bonds and stocks continues to be relatively attractive.
  • We increased the portfolio’s allocation towards large cap equities and investment grade bonds this quarter. The portfolio’s allocation to small cap equities, high yield bonds and convertible bonds was reduced while we maintained the portfolio’s exposure to international equity and emerging market bonds.
Holding Assets
Ultra Short Bond Fund 20.2%
High Yield Fund 16.6%
Convertible Fund 12.6%
Mid Cap Stock Fund 8.4%
Fundamental Equity Fund 7.6%
Inflation Focused Fund 6.4%
Growth Opportunities Fund 6.1%
International Equity Fund 5.5%
International Value Fund 5.5%
Emerging Markets Bond Fund 5.1%
Growth Leaders Fund 5.0%
Core Fixed Income Fund 1.0%
Holding Assets
SPX Put Option Citi (2549.13) 5/18/202.0%
SPX Call Option JPM (3157.12) 5/18/202.0%
SPX Call Option Citi (3115.60) 5/18/202.0%
SPX Put Option JPM (2296.09) 5/18/202.0%
SPX Put Option Citi (2265.89) 5/18/202.0%
SPX Put Option JPM (2583.10) 5/18/202.0%
MSCI EAFE SEP191.0%
MSCI EMGMKT SEP191.0%
Forward Volatility Agreement 1Y2Y5Y 3/5/201.0%
S&P500 EMINI FUT SEP191.0%

Equity Sector Allocation as of 07/31/2019

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 08/19/2019
$0.197
Dividend Frequency
Monthly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
07/30/2019 07/31/2019 07/31/2019 $0.02530 $14.82
06/27/2019 06/28/2019 06/28/2019 $0.04240 $14.76
05/30/2019 05/31/2019 05/31/2019 $0.02240 $14.40
04/29/2019 04/30/2019 04/30/2019 $0.02470 $14.72
03/28/2019 03/29/2019 03/29/2019 $0.03850 $14.47
02/27/2019 02/28/2019 02/28/2019 $0.02380 $14.46
01/30/2019 01/31/2019 01/31/2019 $0.02010 $14.16

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
08/29/2019 08/30/2019 08/30/2019
09/26/2019 09/27/2019 09/27/2019
10/30/2019 10/31/2019 10/31/2019
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 $13.47

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 07/31/2019

0.92%

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 R5 - The inception date for Class R5 shares is June 30, 2015. The performance quotations for Class R5 are based on the following methods of calculation: (a) for periods prior to June 30, 2015, a restated figure is used based on the historical performance of the Fund’s portfolio since inception to reflect all charges and fees applicable to Class R5 shares; and (b) for periods after June 30, 2015, actual Class R5 performance is used, which reflects all charges and fees applicable to Class R5 shares.

Class R5 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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