Image alt tag

Error!

There was a problem contacting the server. Please try after sometime.

Sorry, we are unable to process your request.

Error!

We're sorry, but the Insights and Intelligence Tool is temporarily unavailable

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Error!

We're sorry, but the Literature Center checkout function is temporarily unavailable.

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

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.

Reset Your Password

Financial Professionals*

Your password must be a minimum of characters.

Confirmation Message

Your LordAbbett.com password was successully updated. This page will be refreshed after 3 seconds.

OK

 

National Tax Free Fund

Summary

Summary

What is the National Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal taxation by investing primarily in investment grade municipal bonds with select exposure to lower-rated municipal bonds.

Yield

Dividend Yield 1 as of 10/23/2019  

w/o sales charge 2.97%
w/ sales charge 2.90%

30-Day Standardized Yield 2 as of 09/30/2019  

1.68%

Fund Basicsas of 09/30/2019

Total Net Assets
$2.93 B
Inception Date
04/02/1984
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
753
Minimum Initial Investment
$1,000+

Expense Ratioas of 09/30/2019

Fund Expense Ratio :

Gross 0.77%

Net 0.74%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/02/1984
w/o sales charge 8.67% 9.70% 3.63% 4.33% 5.09% 6.40%
Lipper Category Avg. General & Insured Municipal Debt Funds 7.09% 8.20% 3.00% 3.48% 4.09% -
Bloomberg Barclays Municipal Bond Index 6.75% 8.55% 3.19% 3.66% 4.16% -
w/ sales charge 6.19% 7.19% 2.85% 3.86% 4.86% 6.33%

Fund Expense Ratio :

Gross 0.77%

Net 0.74%

Fund Expense Ratio :

Gross 0.77%

Net 0.74%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/02/1984
w/o sales charge 8.67% 9.70% 3.63% 4.33% 5.09% 6.40%
Lipper Category Avg. General & Insured Municipal Debt Funds 7.09% 8.20% 3.00% 3.48% 4.09% -
Bloomberg Barclays Municipal Bond Index 6.75% 8.55% 3.19% 3.66% 4.16% -
w/ sales charge 6.19% 7.19% 2.85% 3.86% 4.86% 6.33%

Fund Expense Ratio :

Gross 0.77%

Net 0.74%

RELATED CONTENT

Muni Matters: Demystifying Non-Rated Muni Bonds
October 14, 2019

Here’s a closer look at this $82 billion segment of the tax-free bond market—and how portfolio managers might find opportunities in the sector.

California Charter Schools: How Might Political Shifts Affect Credit?
August 23, 2019

Legislation under consideration in Sacramento could influence future authorizations of charter schools.

The Hospital’s Transformation to Healthcare Delivery System
August 22, 2019

Not-for-profit hospitals are aiming to lower costs and improve patient outcomes as they offer a broader range of services.

Sector Assets
Transportation
IDR/PCR
Healthcare/Hospital
Lease
Special Tax
GO Local
GO State
Education
Water & Sewer
Housing
Power
Pre-Refunded
VRDN
Other
Insured
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 09/30/2019 View Portfolio

Rating Assets
AAA
AA
A
BBB
< BBB
Not Rated

Investment Team

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

32 Years of Industry Experience

Greg Shuman
Gregory M. Shuman, CFA

Portfolio Manager

9 Years of Industry Experience

Supported By 15 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 10/23/2019  

w/o sales charge 2.97%
w/ sales charge 2.90%

30-Day Standardized Yield 2 as of 09/30/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.68% 1.68%

Fund Expense Ratio :

Gross 0.77%

Net 0.74%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/02/1984
w/o sales charge 8.67% 9.70% 3.63% 4.33% 5.09% 6.40%
Lipper Category Avg. General & Insured Municipal Debt Funds 7.09% 8.20% 3.00% 3.48% 4.09% -
Bloomberg Barclays Municipal Bond Index 6.75% 8.55% 3.19% 3.66% 4.16% -
w/ sales charge 6.19% 7.19% 2.85% 3.86% 4.86% 6.33%

Fund Expense Ratio :

Gross 0.77%

Net 0.74%

Fund Expense Ratio :

Gross 0.77%

Net 0.74%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/02/1984
w/o sales charge 8.67% 9.70% 3.63% 4.33% 5.09% 6.40%
Lipper Category Avg. General & Insured Municipal Debt Funds 7.09% 8.20% 3.00% 3.48% 4.09% -
Bloomberg Barclays Municipal Bond Index 6.75% 8.55% 3.19% 3.66% 4.16% -
w/ sales charge 6.19% 7.19% 2.85% 3.86% 4.86% 6.33%

Fund Expense Ratio :

Gross 0.77%

Net 0.74%

Year Fund Returns Bloomberg Barclays Municipal Bond Index
2018 0.72% 1.28%
2017 7.07% 5.45%
2016 0.36% 0.25%
2015 3.28% 3.30%
2014 12.83% 9.05%
2013 -6.11% -2.55%
2012 13.75% 6.78%
2011 11.08% 10.70%
2010 2.20% 2.38%
2009 24.60% 12.91%
2008 -15.24% -
2007 -1.44% -
2006 4.57% -
2005 3.69% -
2004 3.85% -
2003 4.65% -
2002 8.83% -
2001 4.15% -
2000 12.71% -
1999 -5.56% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 3.56% 2.83% 2.05% - 8.41%
2018 -1.13% 1.18% -0.26% 0.94% 0.72%
2017 1.87% 2.10% 1.68% 1.25% 7.07%
2016 2.14% 3.51% -0.05% -5.03% 0.36%
2015 1.24% -1.22% 1.35% 1.90% 3.28%
2014 4.72% 3.50% 2.28% 1.77% 12.83%
2013 0.58% -4.82% -1.93% 0.00% -6.11%
2012 4.76% 2.75% 3.78% 1.82% 13.75%
2011 -0.10% 5.03% 3.41% 2.38% 11.08%
2010 2.25% 1.57% 4.52% -5.86% 2.20%
2009 7.21% 5.87% 11.02% -1.11% 24.60%
2008 -1.89% 0.54% -6.18% -8.41% -15.24%
2007 0.72% -0.58% -0.55% -1.03% -1.44%
2006 0.26% -0.13% 3.19% 1.21% 4.57%
2005 0.19% 3.26% -0.38% 0.60% 3.69%
2004 1.71% -3.15% 3.95% 1.42% 3.85%
2003 0.92% 2.86% -0.84% 1.66% 4.65%
2002 1.01% 3.03% 5.02% -0.44% 8.83%
2001 1.60% 0.32% 2.88% -0.68% 4.15%
2000 3.45% 1.13% 2.09% 5.52% 12.71%
1999 1.03% -2.59% -2.39% -1.65% -5.56%
1998 1.05% 1.82% 3.27% 0.10% 6.36%
1997 -0.49% 3.56% 3.49% 3.14% 10.02%
1996 -1.79% 0.87% 2.40% 2.49% 3.98%
1995 7.66% 1.62% 2.71% 4.76% 17.71%
1994 -6.40% -0.27% 0.52% -2.26% -8.27%
1993 4.83% 3.39% 3.68% 0.60% 13.00%
1992 0.25% 4.14% 2.16% 1.95% 8.72%
1991 2.17% 2.00% 3.93% 3.88% 12.51%
1990 0.33% 2.36% 0.06% 4.35% 7.22%
1989 0.54% 5.79% -0.24% 3.21% 9.53%
1988 3.58% 2.40% 3.21% 2.89% 12.60%
1987 2.61% -5.00% -3.03% 6.14% 0.36%
1986 9.43% -0.87% 5.46% 4.96% 20.07%
1985 3.71% 8.30% -1.48% 8.13% 19.63%
1984 - - 5.84% 5.87% 6.19%

Growth of $10,000 as of 07/31/2019

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Sector Assets
Transportation
IDR/PCR
Healthcare/Hospital
Lease
Special Tax
GO Local
GO State
Education
Water & Sewer
Housing
Power
Pre-Refunded
VRDN
Other
Insured
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
State Assets
CA
IL
NY
PA
NJ
TX
FL
OH
MA
MD
CT
AZ
KY
GA
MI
CO
AL
HI
NC
Puerto Rico
VA
MN
IN
NE
LA
NV
MO
SC
WI
OK
ME
OR
WY
WA
DIST. OF COLUMBIA
MT
DE
TN
WV
NH
AR
OT
IA
VT
DC
ND
NM

Credit Quality Distribution as of 09/30/2019

Rating Assets
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Positioning as of 09/30/2019

  • Relative to its benchmark, the Bloomberg Barclays Municipal Bond Index, the portfolio is underweight bonds in the 1- to 12-year maturity range, while maintaining an overweight to longer maturity bonds.
  • The portfolio continues to maintain an overweight in revenue bonds, specifically in the transportation, health care, and industrial development sectors, given their dedicated income streams and favorable return prospects.
  • The portfolio continues to maintain an overweight in lower tier investment grade bonds due to the incremental yield advantage and relatively attractive credit spreads.

Portfolio Details as of 09/30/2019

Total Net Assets
$2.93 B
Number of Issues
753
Average Coupon
4.7%
Average Effective Maturity
20.1 Years
Average Effective Duration
6.66 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 10/23/2019
$0.274
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2019 $0.02908 $11.80
Daily Daily 08/31/2019 $0.02925 $11.92
Daily Daily 07/31/2019 $0.02984 $11.71
Daily Daily 06/30/2019 $0.03059 $11.65
Daily Daily 05/31/2019 $0.03052 $11.62
Daily Daily 04/30/2019 $0.03095 $11.46
Daily Daily 03/31/2019 $0.03077 $11.42
Daily Daily 02/28/2019 $0.03249 $11.22
Daily Daily 01/31/2019 $0.03137 $11.16

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
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/10/1998 12/18/1998 - - $0.1900 $11.75

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

Sales Charge Schedule as of 10/23/2019

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $12.02
$100,000 to $249,999 1.75% 1.50% $11.96
$250,000 to $499,999 1.25% 1.00% $11.90
$500,000 to $999,999 0.00% 1.00% $11.75
$1,000,000 to $5,000,000 0.00% 1.00% $11.75

Expense Ratioas of 09/30/2019

Fund Documents

Fund Documents

Download fund documents & literature, create email subscriptions, and place direct mail order

0Documents selected
Order
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
Commentary
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

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

The Bloomberg Barclays Municipal Bond Index a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market.  Bonds must be rated investment-grade (Baa3/BBB- or higher) by at least two ratings agencies.  They must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate, have a dated-date after December 31, 1990, and must be at least one year from their maturity date.

Select funds to run a Morningstar Hypothetical Report.

    Please confirm your literature shipping address

    Please review the address information below and make any necessary changes.

    All literature orders will be shipped to the address that you enter below. This information can be edited at any time.

    Current Literature Shipping Address

    * Required field