New Jersey Tax Free Fund

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LONJX

New Jersey Tax Free Fund

LONJX

Daily price w/o sales charge as of 09/23/2022

$4.49

$0.02

YTD Returns w/o sales charge as of 09/23/2022

-14.70%

Please click here for performance current to the most recent quarter-end and month-end.

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Summary

What is the New Jersey Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal and state taxation by investing primarily in New Jersey municipal bonds.

Yield

Dividend Yield ¹ as of 09/23/2022

	Subsidized³	Un-Subsidized⁴
w/o sales charge	3.00%	2.98%

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

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	3.22%	3.18%

Fund Basicsas of 08/31/2022

Total Net Assets: $109.33 M
Inception Date: 04/05/2017
Dividend Frequency: Monthly
Fund Gross Expense Ratio: 0.60%
Fund Net Expense Ratio: 0.58%
Number of Holdings: 197

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	-11.64%	-11.60%	-1.50%	1.33%	2.35%	-
Lipper Category Avg. New Jersey Municipal Debt Funds	-9.49%	-9.49%	-1.12%	1.23%	1.91%	-
Bloomberg Municipal Bond Index	-8.63%	-8.63%	-0.83%	1.28%	2.25%	-

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	-11.68%	-10.98%	-0.67%	1.70%	2.60%	-
Lipper Category Avg. New Jersey Municipal Debt Funds	-9.70%	-9.30%	-0.40%	1.50%	2.08%	-
Bloomberg Municipal Bond Index	-8.98%	-8.57%	-0.18%	1.51%	2.38%	-

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Credit Quality Distribution as of 08/31/2022 View Portfolio

Rating	Assets
AAA
AA
A
BBB
< BBB
Not Rated

Ratings provided by Standard & Poor’s, Moody’s, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating.Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non investment grade bonds (junk bonds) involve higher risks than investment grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities are not rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

INVESTMENT TEAM

Daniel S. Solender, CFA

Partner & Director

35 Years of Industry Experience

Philip B. Herman

Partner, Portfolio Manager

23 Years of Industry Experience

Supported By 16 Investment Professionals with 14 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Dividend Yield ¹ as of 09/23/2022

	Subsidized³	Un-Subsidized⁴
w/o sales charge	3.00%	2.98%

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

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	3.22%	3.18%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	-11.64%	-11.60%	-1.50%	1.33%	2.35%	-
Lipper Category Avg. New Jersey Municipal Debt Funds	-9.49%	-9.49%	-1.12%	1.23%	1.91%	-
Bloomberg Municipal Bond Index	-8.63%	-8.63%	-0.83%	1.28%	2.25%	-

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	-11.68%	-10.98%	-0.67%	1.70%	2.60%	-
Lipper Category Avg. New Jersey Municipal Debt Funds	-9.70%	-9.30%	-0.40%	1.50%	2.08%	-
Bloomberg Municipal Bond Index	-8.98%	-8.57%	-0.18%	1.51%	2.38%	-

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

Year	Fund Returns	Bloomberg Municipal Bond Index

2021	3.37%	1.52%
2020	4.86%	5.21%
2019	8.73%	7.54%
2018	2.01%	1.28%
2017	6.08%	5.45%
2016	1.29%	0.25%
2015	2.70%	3.30%
2014	12.38%	9.05%
2013	-5.73%	-2.55%
2012	11.03%	6.78%
2011	12.49%	-

Year	Q1	Q2	Q3	Q4	Yearly Returns

2022	-6.67%	-5.37%	-	-	-14.70%
2021	0.06%	2.49%	-0.17%	0.97%	3.37%
2020	-2.80%	2.50%	1.83%	3.36%	4.86%
2019	3.21%	2.91%	1.86%	0.50%	8.73%
2018	-0.65%	1.16%	0.54%	0.96%	2.01%
2017	1.46%	2.04%	1.52%	0.94%	6.08%
2016	2.12%	3.67%	0.20%	-4.52%	1.29%
2015	0.91%	-1.90%	1.15%	2.57%	2.70%
2014	4.93%	2.85%	2.18%	1.91%	12.38%
2013	0.31%	-4.27%	-1.74%	-0.09%	-5.73%
2012	4.04%	2.47%	2.99%	1.12%	11.03%
2011	-	5.33%	3.38%	2.44%	12.49%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV Historical Prices

Date	Net Asset Value

Portfolio

Sector	Assets
Transportation
Lease
Healthcare/Hospital
IDR/PCR
Education
GO Local
Special Tax
GO State
Water & Sewer
Power
Pre-Refunded
Treasury
Housing

The Fund's portfolio is actively managed and is subject to change.

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

The Fund's portfolio is actively managed and is subject to change.

Credit Quality Distribution as of 08/31/2022

Rating	Assets
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Details as of 08/31/2022

Total Net Assets: $109.33 M
Number of Issues: 197
Average Coupon: 4.4%
Average Effective Maturity: 16.9 Years
Average Effective Duration: 8.51 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding	Coupon	Maturity	Assets

Tobacco Settlement Financing Corp	5.000%	06/01/2046	2.2%
New Jersey Economic Development Authority	5.250%	09/15/2029	1.6%
New Jersey Economic Development Authority	5.375%	01/01/2043	1.5%
State of New Jersey	4.000%	06/01/2031	1.3%
New Jersey Infrastructure Bank	4.000%	09/01/2047	1.3%
New Jersey Economic Development Authority	3.500%	04/01/2042	1.3%
New Jersey Transportation Trust Fund Authority	5.000%	06/15/2038	1.3%
New Jersey Transportation Trust Fund Authority	0.000%	12/15/2031	1.3%
Garden State Preservation Trust	5.750%	11/01/2028	1.2%
New Jersey Economic Development Authority	4.000%	06/15/2049	1.2%

% of Total Assets			14.2%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Holding	Coupon	Maturity	Assets

Tobacco Settlement Financing Corp	5.000%	06/01/2046	2.1%
New Jersey Economic Development Authority	5.250%	09/15/2029	1.5%
New Jersey Economic Development Authority	3.500%	04/01/2042	1.4%
New Jersey Economic Development Authority	5.375%	01/01/2043	1.4%
New Jersey Infrastructure Bank	4.000%	09/01/2047	1.3%
State of New Jersey	4.000%	06/01/2031	1.3%
New Jersey Transportation Trust Fund Authority	5.000%	06/15/2038	1.2%
New Jersey Transportation Trust Fund Authority	0.000%	12/15/2031	1.2%
Garden State Preservation Trust	5.750%	11/01/2028	1.2%
New Jersey Economic Development Authority	4.000%	06/15/2049	1.2%
New Jersey Transportation Trust Fund Authority	4.000%	06/15/2050	1.2%
Delaware River Joint Toll Bridge Commission	4.000%	07/01/2047	1.1%
Port Authority of New York & New Jersey	5.000%	10/15/2036	1.1%
New Jersey Transportation Trust Fund Authority	4.000%	12/15/2039	1.0%
New Jersey Health Care Facilities Financing Author	4.000%	07/01/2048	1.0%
New Jersey Educational Facilities Authority	5.000%	09/01/2033	1.0%
New Jersey Transportation Trust Fund Authority	5.000%	06/15/2028	1.0%
South Jersey Transportation Authority	4.000%	11/01/2050	0.9%
New Jersey Transportation Trust Fund Authority	4.000%	06/15/2050	0.9%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2039	0.9%
Tobacco Settlement Financing Corp	5.250%	06/01/2046	0.9%
New Jersey Health Care Facilities Financing Author	4.000%	07/01/2044	0.9%
Essex County Improvement Authority	4.000%	08/01/2051	0.9%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2046	0.9%
New Jersey Turnpike Authority	4.000%	01/01/2043	0.9%
New Jersey Turnpike Authority	4.000%	01/01/2048	0.9%
New Jersey Transportation Trust Fund Authority	4.750%	06/15/2038	0.9%
New Jersey Economic Development Authority	4.750%	06/15/2032	0.9%
Union County Utilities Authority	4.750%	12/01/2031	0.9%
New Jersey Economic Development Authority	5.000%	10/01/2047	0.9%
Port Authority of New York & New Jersey	4.000%	09/01/2043	0.8%
New Jersey Economic Development Authority	5.125%	01/01/2039	0.8%
New Jersey Turnpike Authority	5.250%	01/01/2028	0.8%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2043	0.8%
New Jersey Educational Facilities Authority	5.000%	07/01/2030	0.8%
State of New Jersey	4.000%	06/01/2032	0.8%
Rutherford Board of Education	2.500%	12/15/2034	0.8%
Passaic Valley Sewerage Commission	3.000%	12/01/2038	0.8%
Port Authority of New York & New Jersey	4.000%	09/01/2043	0.8%
New Jersey Economic Development Authority	3.000%	08/01/2041	0.8%
Delaware River & Bay Authority	4.000%	01/01/2044	0.7%
State of New Jersey	2.500%	06/01/2038	0.7%
Delaware River Joint Toll Bridge Commission	3.000%	07/01/2049	0.7%
New Jersey Educational Facilities Authority	5.000%	07/01/2041	0.7%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2028	0.7%
New Jersey Health Care Facilities Financing Author	4.000%	07/01/2047	0.7%
City of Atlantic City NJ	5.000%	03/01/2042	0.7%
New Jersey Health Care Facilities Financing Author	3.000%	07/01/2051	0.7%
New Jersey Economic Development Authority	5.000%	06/15/2035	0.7%
Township of Berkeley Heights NJ	4.000%	07/01/2041	0.7%
New Jersey Transportation Trust Fund Authority	5.250%	06/15/2043	0.7%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2041	0.7%
State of New Jersey	5.000%	06/01/2027	0.7%
New Jersey Educational Facilities Authority	4.000%	07/01/2036	0.7%
Cumberland County Improvement Authority/The	4.000%	10/01/2048	0.7%
New Jersey Educational Facilities Authority	3.000%	07/01/2050	0.7%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2029	0.7%
New Jersey Turnpike Authority	5.000%	01/01/2033	0.7%
County of Hudson NJ	2.000%	11/15/2035	0.7%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2031	0.6%
New Jersey Economic Development Authority	5.000%	06/15/2035	0.6%
New Jersey Economic Development Authority	6.500%	04/01/2028	0.6%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2042	0.6%
New Jersey Turnpike Authority	5.000%	01/01/2034	0.6%
New Jersey Economic Development Authority	5.500%	06/01/2033	0.6%
New Jersey Turnpike Authority	5.000%	01/01/2030	0.6%
Gloucester County Improvement Authority/The	4.000%	07/01/2051	0.6%
Essex County Improvement Authority	4.000%	11/01/2049	0.6%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2033	0.6%
Port Authority of New York & New Jersey	5.000%	11/15/2047	0.5%
Port Authority of New York & New Jersey	5.000%	09/15/2033	0.5%
Port Authority of New York & New Jersey	4.000%	07/15/2040	0.5%
New Jersey Higher Education Student Assistance Aut	3.250%	12/01/2039	0.5%
City of Atlantic City NJ	5.000%	03/01/2037	0.5%
New Jersey Health Care Facilities Financing Author	5.750%	07/01/2037	0.5%
New Jersey Transportation Trust Fund Authority	5.000%	06/15/2030	0.5%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	0.000%	07/01/2051	0.5%
New Jersey Turnpike Authority	5.000%	01/01/2031	0.5%
New Jersey Transportation Trust Fund Authority	5.000%	12/15/2036	0.5%
New Jersey Educational Facilities Authority	5.000%	09/01/2036	0.5%
New Jersey Economic Development Authority	5.000%	06/15/2047	0.5%
New Jersey Transportation Trust Fund Authority	0.000%	12/15/2038	0.5%
Newark Housing Authority	4.000%	01/01/2037	0.5%
New Jersey Turnpike Authority	5.000%	01/01/2030	0.5%
Port Authority of New York & New Jersey	5.000%	11/15/2033	0.5%
New Jersey Educational Facilities Authority	4.000%	07/01/2041	0.5%
Delaware River Port Authority	5.000%	01/01/2040	0.5%
Port Authority of New York & New Jersey	5.000%	09/15/2032	0.5%
New Jersey Health Care Facilities Financing Author	5.000%	10/01/2038	0.5%
Port Authority of New York & New Jersey	5.000%	10/15/2035	0.5%
New Jersey Turnpike Authority	5.000%	01/01/2035	0.5%
South Jersey Transportation Authority	5.000%	11/01/2045	0.5%
Camden County Improvement Authority/The	5.000%	02/15/2030	0.5%
Casino Reinvestment Development Authority Inc	5.250%	11/01/2039	0.5%
New Jersey Economic Development Authority	5.000%	06/15/2029	0.5%
South Jersey Transportation Authority	5.000%	11/01/2039	0.5%
New Jersey Economic Development Authority	5.000%	06/01/2042	0.5%
New Jersey Turnpike Authority	5.000%	01/01/2034	0.5%
Port Authority of New York & New Jersey	5.000%	11/15/2032	0.5%
New Jersey Economic Development Authority	5.000%	06/15/2042	0.5%
New Jersey Economic Development Authority	5.000%	06/15/2048	0.5%
Salem County Improvement Authority	4.000%	08/15/2048	0.5%
Casino Reinvestment Development Authority Inc	5.000%	11/01/2032	0.5%
Port Authority of New York & New Jersey	5.000%	11/15/2041	0.5%
Camden County Improvement Authority/The	5.000%	02/15/2032	0.5%
New Jersey Educational Facilities Authority	4.000%	07/01/2046	0.5%
City of Summit NJ	4.000%	07/15/2041	0.5%
Salem County Pollution Control Financing Authority	5.000%	12/01/2023	0.5%
South Jersey Port Corp	5.000%	01/01/2048	0.4%
Gloucester County Improvement Authority/The	4.000%	07/01/2048	0.4%
New Jersey Educational Facilities Authority	4.000%	07/01/2052	0.4%
Hudson County Improvement Authority	4.000%	01/01/2040	0.4%
New Jersey Health Care Facilities Financing Author	4.000%	07/01/2045	0.4%
New Jersey Economic Development Authority	4.000%	08/01/2059	0.4%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2035	0.4%
New Jersey Health Care Facilities Financing Author	2.375%	07/01/2046	0.4%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.329%	07/01/2040	0.4%
New Jersey Health Care Facilities Financing Author	4.000%	07/01/2051	0.4%
New Jersey Transportation Trust Fund Authority	4.250%	12/15/2038	0.4%
New Jersey Higher Education Student Assistance Aut	2.500%	12/01/2040	0.4%
Port Authority of New York & New Jersey	5.000%	07/15/2038	0.4%
New Jersey Economic Development Authority	2.200%	10/01/2039	0.4%
New Jersey Educational Facilities Authority	5.500%	09/01/2033	0.4%
Camden County Improvement Authority/The	5.750%	02/15/2042	0.4%
New Jersey Transportation Trust Fund Authority	5.000%	06/15/2031	0.4%
Guam Power Authority	5.000%	10/01/2034	0.4%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	5.000%	07/01/2058	0.4%
Gloucester County Improvement Authority/The	5.000%	07/01/2044	0.4%
New Jersey Economic Development Authority	5.000%	06/15/2034	0.4%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	0.000%	07/01/2033	0.4%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.550%	07/01/2040	0.3%
New Jersey Turnpike Authority	5.000%	01/01/2037	0.3%
New Jersey Infrastructure Bank	2.000%	09/01/2046	0.3%
Port Authority of New York & New Jersey	5.000%	09/15/2029	0.3%
Salem County Improvement Authority	4.000%	08/15/2042	0.3%
New Jersey Economic Development Authority	5.000%	06/01/2041	0.3%
New Jersey Infrastructure Bank	4.000%	09/01/2036	0.3%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2030	0.3%
New Jersey Educational Facilities Authority	3.250%	07/01/2049	0.3%
New Jersey Educational Facilities Authority	5.000%	07/01/2034	0.3%
New Jersey Transportation Trust Fund Authority	3.000%	06/15/2050	0.3%
Gloucester County Improvement Authority/The	5.000%	11/01/2030	0.3%
Guam Government Waterworks Authority	5.000%	01/01/2050	0.3%
Delaware River Joint Toll Bridge Commission	5.000%	07/01/2030	0.3%
New Jersey Infrastructure Bank	2.125%	09/01/2046	0.3%
City of Newark NJ	4.000%	10/01/2037	0.3%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2033	0.2%
Gloucester County Improvement Authority/The	5.000%	11/01/2029	0.2%
New Jersey Economic Development Authority	4.000%	11/01/2044	0.2%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2034	0.2%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.750%	07/01/2053	0.2%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit	5.000%	07/01/2030	0.2%
City of Newark NJ	4.000%	10/01/2035	0.2%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit	5.000%	07/01/2047	0.2%
Territory of Guam	4.000%	01/01/2042	0.2%
New Jersey Economic Development Authority	5.000%	01/01/2031	0.2%
New Jersey Economic Development Authority	5.000%	06/01/2036	0.2%
New Jersey Higher Education Student Assistance Aut	5.000%	12/01/2028	0.2%
Mercer County Improvement Authority/The	4.000%	04/01/2031	0.2%
New Jersey Educational Facilities Authority	3.000%	07/01/2039	0.2%
New Jersey Educational Facilities Authority	3.000%	07/01/2040	0.2%
New Jersey Economic Development Authority	5.625%	01/01/2052	0.2%
New Jersey Transportation Trust Fund Authority	5.250%	06/15/2041	0.2%
New Jersey Higher Education Student Assistance Aut	4.125%	12/01/2024	0.2%
New Jersey Institute of Technology/NJ	5.000%	07/01/2033	0.2%
New Jersey Educational Facilities Authority	4.000%	07/01/2050	0.2%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	0.000%	07/01/2031	0.1%
City of Jersey City NJ	5.000%	11/01/2033	0.1%
Industrial Pollution Control Financing Authority o	5.000%	12/01/2024	0.1%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2031	0.1%
New Jersey Transportation Trust Fund Authority	4.000%	06/15/2046	0.1%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2030	0.1%
Commonwealth of Puerto Rico	0.000%	11/01/2043	0.1%
New Jersey Health Care Facilities Financing Author	5.000%	07/01/2027	0.1%
Guam Government Waterworks Authority	5.000%	07/01/2036	0.1%
New Jersey Economic Development Authority	5.000%	01/01/2028	0.1%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.329%	07/01/2040	0.1%
Puerto Rico Electric Power Authority	0.000%	07/01/2037	0.1%
Puerto Rico Electric Power Authority	0.000%	07/01/2040	0.1%
New Jersey Housing & Mortgage Finance Agency	3.150%	05/01/2053	0.1%
New Jersey Economic Development Authority	5.000%	07/01/2023	0.1%
Puerto Rico Electric Power Authority	0.000%	07/01/2036	0.1%
Commonwealth of Puerto Rico	5.625%	07/01/2027	0.0%
Commonwealth of Puerto Rico	5.625%	07/01/2029	0.0%
Commonwealth of Puerto Rico	5.375%	07/01/2025	0.0%
Commonwealth of Puerto Rico	5.750%	07/01/2031	0.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.784%	07/01/2058	0.0%
Commonwealth of Puerto Rico	4.000%	07/01/2033	0.0%
Commonwealth of Puerto Rico	4.000%	07/01/2035	0.0%
Commonwealth of Puerto Rico	0.000%	07/01/2033	0.0%
Commonwealth of Puerto Rico	4.000%	07/01/2037	0.0%
Middlesex County Improvement Authority	0.000%	01/01/2037	0.0%
Commonwealth of Puerto Rico	5.250%	07/01/2023	0.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.550%	07/01/2040	0.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.536%	07/01/2053	0.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	0.000%	07/01/2029	0.0%
Commonwealth of Puerto Rico	0.000%	07/01/2024	0.0%
USU2 - Futures	0.000%	01/01/1900	0.0%

Dividends & Cap Gains

Dividend Payments

For

YTD Dividends Paidas of 09/23/2022: $0.088
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	08/31/2022	$0.01123	$4.66
Daily	Daily	07/31/2022	$0.01125	$4.82
Daily	Daily	06/30/2022	$0.01119	$4.68
Daily	Daily	05/31/2022	$0.01096	$4.82
Daily	Daily	04/30/2022	$0.01109	$4.77
Daily	Daily	03/31/2022	$0.01058	$4.98
Daily	Daily	02/28/2022	$0.01118	$5.16
Daily	Daily	01/31/2022	$0.01059	$5.21

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	09/30/2022
Daily	Daily	10/31/2022
Daily	Daily	11/30/2022
Daily	Daily	12/31/2022

Fees & Expenses

Expense Ratioas of 08/31/2022

Fund Gross Expense Ratio	Fund Net Expense Ratio
0.60%	0.58%

Expense ratio details, Click here.

The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 01/31/2023. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower. In addition, the net expense ratio takes into account deductions for certain interest and related expenses from certain of the Fund's investments. Under accounting rules, the Fund recognized additional income in an amount that directly offsets these interest and related expenses. Therefore, the Fund's total returns and net asset value were not affected by such interest and related expenses.

Fund Documents

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n/a	Portfolio Holdings 1Q Publish Date:11/03/2015
n/a	Portfolio Holdings 3Q Publish Date:11/03/2015
	Summary Prospectus Publish Date:11/03/2015
n/a	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 Publish Date:11/03/2015

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Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

The Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

IMPORTANT INFORMATION

*"Barron's Best Fund Families of 2021", #7 ranking in the Tax Exempt Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families. Ranking for the ten-year period ending 12/31/2021 is #4 out of 45 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2021,” February 18, 2022. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2021, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.

© Refinitiv Lipper 2022. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

A Note about Risk: The Fund invests a significant percentage of its assets in the securities of a single state. As a result, an investment in the Fund may be riskier than an investment in other, more diversified municipal bond funds. The value of an investment in the fund will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the price of debt securities tend to rise. High-yield securities, sometimes called "junk bonds" carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. A portion of the income derived from the Fund's portfolio may be subject to the alternative minimum tax. Any capital gains realized may be subject to taxation. Federal, state, and local taxes may apply. There is a risk that a bond issued as tax-exempt may be reclassified by the IRS as taxable, creating taxable rather than tax-exempt income. The Fund may invest in bonds of issuers in Puerto Rico and other U.S. territories, commonwealths, and possessions, and may be affected by local, state, and regional factors. These may include, for example, economic or political developments, erosion of the tax base, and the possibility of credit problems. These factors can affect Fund performance.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns shown at less than a year reflect aggregate total returns.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

The Bloomberg 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.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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Summary

Summary

What is the New Jersey Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal and state taxation by investing primarily in New Jersey municipal bonds.

Yield

Dividend Yield 1 as of 09/23/2022

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

Fund Basicsas of 08/31/2022

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

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Performance

Performance

Dividend Yield 1 as of 09/23/2022

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

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

Fund Expense Ratio :

Gross 0.60%

Net 0.58%

NAV Historical Prices

Portfolio

Portfolio

Credit Quality Distribution as of 08/31/2022

Portfolio Details as of 08/31/2022

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Upcoming Dividend Payment Dates

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2022

Fund Documents

Fund Documents

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Dividend Yield ¹ as of 09/23/2022

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

Dividend Yield ¹ as of 09/23/2022

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