ISFAX | Multi-Asset Income Fund Class A | Lord Abbett

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Multi-Asset Income Fund

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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 10/06/2022  

w/o sales charge 6.53%
w/ sales charge 6.39%

30-Day Standardized Yield 2 as of 08/31/2022  

1.84%

Fund Basicsas of 08/31/2022

Total Net Assets
$1.05 B
Inception Date
06/30/2005
Dividend Frequency
Monthly
Fund Expense Ratio
1.12%
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

1.12%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2005
w/o sales charge -17.34% -15.48% 1.91% 2.32% 4.10% 4.75%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds -16.70% -15.00% -0.59% 1.18% 2.96% -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% 0.89% 2.85%
w/ sales charge -19.18% -17.38% 1.14% 1.86% 3.86% 4.61%

Fund Expense Ratio :

1.12%

Fund Expense Ratio :

1.12%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2005
w/o sales charge -17.34% -15.48% 1.91% 2.32% 4.10% 4.75%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds -16.70% -15.00% -0.59% 1.18% 2.96% -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% 0.89% 2.85%
w/ sales charge -19.18% -17.38% 1.14% 1.86% 3.86% 4.61%

Fund Expense Ratio :

1.12%

INVESTMENT TEAM

Giulio Martini
Giulio Martini

Partner, Director of Strategic Asset Allocation

37 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

31 Years of Industry Experience

Jeffrey O. Herzog
Jeffrey O. Herzog, Ph.D.

Managing Director, Portfolio Manager

13 Years of Industry Experience

Supported By 7 Investment Professionals with 27 Years Avg. Industry Experience

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Performance

Performance

12-Month Dividend Yield 1 as of 10/06/2022  

w/o sales charge 6.53%
w/ sales charge 6.39%

30-Day Standardized Yield 2 as of 08/31/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.84% 1.84%

Fund Expense Ratio :

1.12%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2005
w/o sales charge -17.34% -15.48% 1.91% 2.32% 4.10% 4.75%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds -16.70% -15.00% -0.59% 1.18% 2.96% -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% 0.89% 2.85%
w/ sales charge -19.18% -17.38% 1.14% 1.86% 3.86% 4.61%

Fund Expense Ratio :

1.12%

Fund Expense Ratio :

1.12%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2005
w/o sales charge -17.34% -15.48% 1.91% 2.32% 4.10% 4.75%
Lipper Category Avg. Mixed-Asset Trgt Alloc Con Fds -16.70% -15.00% -0.59% 1.18% 2.96% -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% 0.89% 2.85%
w/ sales charge -19.18% -17.38% 1.14% 1.86% 3.86% 4.61%

Fund Expense Ratio :

1.12%

Year Fund Returns Bloomberg U.S. Aggregate Bond Index
2021 7.54% -1.54%
2020 13.81% 7.51%
2019 15.86% 8.72%
2018 -6.41% 0.01%
2017 9.17% 3.54%
2016 9.28% 2.65%
2015 -3.33% 0.55%
2014 3.44% 5.97%
2013 10.82% -2.02%
2012 12.86% 4.22%
2011 1.02% -
2010 12.51% -
2009 35.86% -
2008 -23.38% -
2007 2.91% -
2006 10.09% -
2005 1.48% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -5.60% -10.45% -2.22% - -16.21%
2021 3.21% 2.48% -0.57% 2.25% 7.54%
2020 -13.49% 13.27% 5.05% 10.57% 13.81%
2019 8.33% 2.62% -0.37% 4.61% 15.86%
2018 -0.25% 0.49% 2.79% -9.17% -6.41%
2017 2.93% 1.60% 2.12% 2.23% 9.17%
2016 0.51% 2.81% 3.97% 1.72% 9.28%
2015 2.10% -0.08% -5.25% 0.00% -3.33%
2014 2.35% 3.05% -2.01% 0.08% 3.44%
2013 4.06% -0.60% 3.47% 3.54% 10.82%
2012 6.78% -1.79% 4.48% 3.00% 12.86%
2011 4.02% 0.88% -8.65% 5.38% 1.02%
2010 3.99% -3.12% 7.32% 4.06% 12.51%
2009 0.84% 13.95% 12.67% 4.93% 35.86%
2008 -4.75% 0.60% -7.94% -13.15% -23.38%
2007 2.30% 1.25% 0.75% -1.38% 2.91%
2006 2.05% 0.04% 3.53% 4.16% 10.09%
2005 - - 1.02% 0.45% 1.48%

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

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 6/30/2022

  • Global markets have wrestled with the implications of a more aggressive Fed. Higher CPI inflation and some signs of concern in inflation surveys prompted the Fed to move faster towards restrictive policy territory. With growth concerns intensifying due to weaker-than-expected consumption data and tighter financial conditions, U.S. dollar strength reached close to the levels of the initial COVID outbreak. A worsening outlook in Europe added to growth concerns and USD strength, with some additional pressure from Bank of Japan resolutely sticking to their yield control policy. Although the market narrative is squarely focused on recession, the Fed’s reaction to varying growth and inflation risks will surely impact the outlook for rate sensitive assets like real estate, growth equity, and investment grade bonds.
  • Looking ahead, U.S. Markets are concerned about recession risks emanating from the Fed’s efforts to combat persistent inflation. While unit labor cost growth was consistent with lower than 2 percent inflation when the Fed adopted that rate as its formal target in 2012, it is now more compatible with inflation in the 2.5 percent range. Thus, the Federal Open Market Committee may find that a soft landing is accompanied by inflation closer to 3 percent and will have to decide whether provoking a recession that forces inflation even lower is worth the pain that would impose. We are carefully monitoring the health of the consumer given damage to real incomes from persistent inflation. Consensus estimates of growth declined over the past month as real consumption data arrived worse than expected, posing the scenario of two back-to-back negative quarters of GDP growth. The major pillar confronting that narrative so far is the health of the labor market.
  • Towards the end of the quarter, we reduced risk within the Fund - recognizing increased jeopardy from a more aggressive Fed and worse economic data. We have continued to gravitate towards more core equity exposure by reducing value in favor of growth. Within equities, our value-growth mix is 50-50 and we may add more growth exposure down the line. Given a deteriorating outlook in Europe, we have reduced our international value equity exposure notably. We maintain long end Treasury futures as a recession hedge, but we are somewhat underweight duration and are swapping floating rate bond exposure for core fixed income. We regard convertible bond exposure as an instrument to capture sudden upside in innovation exposure given its current low index delta. A massive rotation of services and goods is creating a disconnect between supply and demand just as the consumer is beset by cost-of-living pressures. This rotation and disconnect is creating recessionary levels of sentiment even though considerable business activity remains intact so far.
Holding Assets
Core Fixed Income Fund 23.6%
High Yield Fund 12.6%
Durable Growth Fund 10.3%
Ultra Short Bond Fund 7.7%
Fundamental Equity Fund 7.3%
Convertible Fund 5.5%
Inflation Focused Fund 5.1%
Emerging Markets Bond Fund 4.6%
International Equity Fund 3.9%
Focused Large Cap Value Fund 3.6%
Growth Leaders Fund 3.2%
International Value Fund 3.1%
Short Duration Income Fund 3.0%
Growth Opportunities Fund 2.5%
Mid Cap Stock Fund 1.6%
Floating Rate Fund 1.5%
Holding Assets
US ULTRA BOND CBT Dec22-1.8%
E-Mini Russ 1000 GSep22-4.8%
IS1222040 LAC EQUITYOPTION---20221118-5.1%
IS1222039 LAC EQUITYOPTION---20220930-5.1%

Equity Sector Allocation as of 08/31/2022

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 10/06/2022
$0.225
Dividend Frequency
Monthly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
09/29/2022 09/30/2022 09/30/2022 $0.03100 $13.90
08/30/2022 08/31/2022 08/31/2022 $0.02340 $14.62
07/28/2022 07/29/2022 07/29/2022 $0.02020 $14.95
06/29/2022 06/30/2022 06/30/2022 $0.04660 $14.29
05/26/2022 05/27/2022 05/27/2022 $0.01890 $15.42
04/28/2022 04/29/2022 04/29/2022 $0.02040 $15.26
03/30/2022 03/31/2022 03/31/2022 $0.03070 $16.05
02/23/2022 02/24/2022 02/24/2022 $0.01990 $15.98
01/27/2022 01/28/2022 01/28/2022 $0.01430 $16.28

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
10/27/2022 10/28/2022 10/28/2022
11/29/2022 11/30/2022 11/30/2022
12/28/2022 12/29/2022 12/29/2022

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
12/21/2022 12/22/2022

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 10/06/2022

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $14.41
$100,000 to $249,999 1.75% 1.50% $14.34
$250,000 to $499,999 1.25% 1.00% $14.27
$500,000 to $999,999 0.00% 1.00% $14.09
$1,000,000 to $5,000,000 0.00% 1.00% $14.09

Expense Ratioas of 09/30/2022

1.12%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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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
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Commentary
Publish Date:11/03/2015

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