New York Tax Free Fund

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NYLAX

New York Tax Free Fund

NYLAX

Daily price w/o sales charge as of 07/01/2022

$10.51

$0.07

YTD Returns w/o sales charge as of 07/01/2022

-12.50%

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

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Summary

What is the New York Tax Free Fund?

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

Yield

Dividend Yield ¹ as of 07/01/2022

w/o sales charge

2.03%

30-Day Standardized Yield ² as of 05/31/2022

2.45%

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

Fund Basicsas of 05/31/2022

Total Net Assets: $459.94 M
Inception Date: 07/15/1996
Dividend Frequency: Monthly
Fund Expense Ratio: 1.42%
Number of Holdings: 329
Minimum Initial Investment: $1,000+

Fund Expense Ratio :

1.42%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/15/1996

w/o sales charge	-13.09%	-13.11%	-1.89%	0.16%	1.46%	3.28%
Lipper Category Avg. New York Municipal Debt Funds	-	-	-	-	-	-
Bloomberg Municipal Bond Index	-8.98%	-8.57%	-0.18%	1.51%	2.38%	-
w/ sales charge	-13.95%	-13.11%	-1.89%	0.16%	1.46%	3.28%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

1.42%

Fund Expense Ratio :

1.42%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/15/1996

w/o sales charge	-13.09%	-13.11%	-1.89%	0.16%	1.46%	3.28%
Lipper Category Avg. New York Municipal Debt Funds	-	-	-	-	-	-
Bloomberg Municipal Bond Index	-8.98%	-8.57%	-0.18%	1.51%	2.38%	-
w/ sales charge	-13.95%	-13.11%	-1.89%	0.16%	1.46%	3.28%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

1.42%

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 05/31/2022 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 14 Investment Professionals with 15 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 07/01/2022

w/o sales charge

2.03%

30-Day Standardized Yield ² as of 05/31/2022

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	2.45%	2.45%

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

Fund Expense Ratio :

1.42%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/15/1996

w/o sales charge	-13.09%	-13.11%	-1.89%	0.16%	1.46%	3.28%
Lipper Category Avg. New York Municipal Debt Funds	-	-	-	-	-	-
Bloomberg Municipal Bond Index	-8.98%	-8.57%	-0.18%	1.51%	2.38%	-
w/ sales charge	-13.95%	-13.11%	-1.89%	0.16%	1.46%	3.28%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

1.42%

Fund Expense Ratio :

1.42%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/15/1996

w/o sales charge	-13.09%	-13.11%	-1.89%	0.16%	1.46%	3.28%
Lipper Category Avg. New York Municipal Debt Funds	-	-	-	-	-	-
Bloomberg Municipal Bond Index	-8.98%	-8.57%	-0.18%	1.51%	2.38%	-
w/ sales charge	-13.95%	-13.11%	-1.89%	0.16%	1.46%	3.28%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

1.42%

Year	Fund Returns	Bloomberg Municipal Bond Index

2021	2.76%	1.52%
2020	3.77%	5.21%
2019	7.63%	7.54%
2018	0.35%	1.28%
2017	4.02%	5.45%
2016	-0.11%	0.25%
2015	2.48%	3.30%
2014	10.77%	9.05%
2013	-5.53%	-2.55%
2012	9.83%	6.78%
2011	8.58%	-
2010	0.59%	-
2009	22.18%	-
2008	-13.24%	-
2007	-0.51%	-
2006	3.99%	-
2005	2.19%	-
2004	3.33%	-
2003	3.68%	-
2002	8.95%	-

Year	Q1	Q2	Q3	Q4	Yearly Returns

2022	-7.88%	-5.66%	-	-	-12.50%
2021	-0.03%	2.81%	-1.04%	1.02%	2.76%
2020	-2.67%	2.47%	0.66%	3.36%	3.77%
2019	3.23%	2.32%	1.64%	0.25%	7.63%
2018	-1.04%	0.83%	-0.33%	0.90%	0.35%
2017	1.43%	1.84%	0.51%	0.19%	4.02%
2016	1.72%	3.07%	-0.12%	-4.60%	-0.11%
2015	0.81%	-1.25%	1.34%	1.58%	2.48%
2014	4.09%	2.92%	2.02%	1.34%	10.77%
2013	0.12%	-4.24%	-1.15%	-0.32%	-5.53%
2012	3.79%	2.10%	2.78%	0.84%	9.83%
2011	0.25%	4.08%	2.70%	1.32%	8.58%
2010	1.56%	1.06%	3.78%	-5.57%	0.59%
2009	6.72%	5.58%	9.24%	-0.74%	22.18%
2008	-2.40%	1.16%	-6.52%	-6.00%	-13.24%
2007	0.44%	-0.99%	0.39%	-0.35%	-0.51%
2006	-0.07%	-0.36%	3.40%	1.01%	3.99%
2005	-0.27%	2.68%	-0.50%	0.29%	2.19%
2004	1.52%	-2.85%	3.76%	0.96%	3.33%
2003	0.46%	2.71%	-0.70%	1.19%	3.68%
2002	0.94%	2.87%	5.53%	-0.57%	8.95%
2001	1.56%	0.54%	2.19%	-0.62%	3.71%
2000	3.27%	0.99%	2.38%	6.14%	13.33%
1999	0.79%	-2.41%	-2.09%	-1.60%	-5.24%
1998	0.99%	1.53%	2.97%	-0.25%	5.32%
1997	-0.78%	3.17%	2.46%	2.61%	7.62%
1996	-	-	-	2.14%	4.64%

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

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 05/31/2022

Rating	Assets
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Details as of 05/31/2022

Total Net Assets: $459.94 M
Number of Issues: 329
Average Coupon: 4.5%
Average Effective Maturity: 18.1 Years
Average Effective Duration: 8.2 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

New York Transportation Development Corp	5.250%	01/01/2050	2.8%
New York Liberty Development Corp	5.000%	11/15/2044	1.9%
New York Liberty Development Corp	5.250%	10/01/2035	1.9%
New York Liberty Development Corp	2.875%	11/15/2046	1.3%
Port Authority of New York & New Jersey	4.000%	09/01/2043	1.1%
New York State Dormitory Authority	4.000%	03/15/2043	1.1%
Oneida County Local Development Corp	4.000%	12/01/2049	1.0%
New York Liberty Development Corp	2.800%	09/15/2069	0.9%
New York Liberty Development Corp	5.500%	10/01/2037	0.9%
Metropolitan Transportation Authority	5.250%	11/15/2028	0.9%

% of Total Assets			13.8%

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

New York Transportation Development Corp	5.250%	01/01/2050	2.8%
New York Liberty Development Corp	5.000%	11/15/2044	1.9%
New York Liberty Development Corp	5.250%	10/01/2035	1.9%
New York Liberty Development Corp	2.875%	11/15/2046	1.3%
Port Authority of New York & New Jersey	4.000%	09/01/2043	1.1%
New York State Dormitory Authority	4.000%	03/15/2043	1.1%
Oneida County Local Development Corp	4.000%	12/01/2049	1.0%
New York Liberty Development Corp	2.800%	09/15/2069	0.9%
New York Liberty Development Corp	5.500%	10/01/2037	0.9%
Metropolitan Transportation Authority	5.250%	11/15/2028	0.9%
New York State Dormitory Authority	4.000%	09/01/2050	0.8%
Port Authority of New York & New Jersey	5.000%	11/15/2031	0.8%
New York City Industrial Development Agency	9.422%	03/01/2026	0.8%
New York City Municipal Water Finance Authority	5.000%	06/15/2046	0.8%
New York State Dormitory Authority	5.000%	03/15/2032	0.7%
New York Transportation Development Corp	4.000%	01/01/2036	0.7%
TSASC Inc/NY	5.000%	06/01/2048	0.7%
City of New York NY	5.000%	08/01/2029	0.7%
New York City Transitional Finance Authority Futur	5.000%	08/01/2041	0.7%
New York State Dormitory Authority	5.000%	02/15/2041	0.7%
Brooklyn Arena Local Development Corp	5.000%	07/15/2042	0.7%
City of New York NY	4.000%	08/01/2034	0.7%
Metropolitan Transportation Authority	4.750%	11/15/2045	0.7%
New York City Municipal Water Finance Authority	4.000%	06/15/2049	0.7%
New York Transportation Development Corp	4.000%	04/30/2053	0.7%
Port Authority of New York & New Jersey	5.000%	09/15/2033	0.7%
Port Authority of New York & New Jersey	5.000%	11/15/2032	0.7%
New York City Transitional Finance Authority Futur	5.000%	08/01/2042	0.7%
Metropolitan Transportation Authority	4.000%	11/15/2051	0.6%
City of New York NY	5.000%	12/01/2044	0.6%
New York City Transitional Finance Authority Futur	5.000%	08/01/2040	0.6%
Metropolitan Transportation Authority	5.000%	11/15/2045	0.6%
New York Transportation Development Corp	4.000%	12/01/2041	0.6%
New York Transportation Development Corp	5.000%	10/01/2040	0.6%
New York City Transitional Finance Authority Futur	5.000%	02/01/2043	0.6%
New York State Dormitory Authority	4.000%	08/15/2050	0.6%
Dutchess County Local Development Corp	4.000%	09/01/2051	0.6%
Metropolitan Transportation Authority	5.000%	11/15/2029	0.5%
New York State Dormitory Authority	4.000%	07/01/2045	0.5%
Build NYC Resource Corp	4.000%	07/01/2049	0.5%
New York Transportation Development Corp	5.000%	01/01/2036	0.5%
New York City Municipal Water Finance Authority	5.000%	06/15/2036	0.5%
Long Island Power Authority	5.250%	09/01/2029	0.5%
New York Transportation Development Corp	4.000%	12/01/2038	0.5%
New York City Transitional Finance Authority Futur	5.000%	02/01/2047	0.5%
New York City Transitional Finance Authority Futur	5.000%	11/01/2030	0.5%
Westchester County Local Development Corp	5.000%	11/01/2046	0.5%
New York City Transitional Finance Authority Build	5.000%	07/15/2035	0.5%
New York State Dormitory Authority	5.000%	02/15/2042	0.5%
Hudson Yards Infrastructure Corp	5.000%	02/15/2031	0.5%
Hempstead Town Local Development Corp	4.000%	02/01/2039	0.5%
New York State Dormitory Authority	5.000%	03/15/2043	0.5%
New York State Dormitory Authority	5.000%	03/15/2045	0.5%
Triborough Bridge & Tunnel Authority	4.000%	11/15/2044	0.5%
Nassau County Local Economic Assistance Corp	5.000%	07/01/2028	0.5%
Port Authority of New York & New Jersey	4.000%	07/15/2036	0.5%
Jefferson County Civic Facility Development Corp	5.000%	11/01/2037	0.5%
Nassau County Tobacco Settlement Corp	5.125%	06/01/2046	0.5%
Long Island Power Authority	5.000%	09/01/2034	0.5%
Metropolitan Transportation Authority	5.000%	11/15/2050	0.5%
New York State Dormitory Authority	5.000%	07/01/2040	0.5%
Dutchess County Local Development Corp	4.000%	07/01/2049	0.5%
New York Liberty Development Corp	2.100%	11/15/2032	0.5%
City of New York NY	4.000%	08/01/2037	0.5%
New York State Dormitory Authority	5.000%	12/01/2029	0.5%
Port Authority of New York & New Jersey	5.000%	11/15/2041	0.5%
Triborough Bridge & Tunnel Authority	4.000%	05/15/2046	0.5%
New York State Urban Development Corp	5.000%	03/15/2033	0.5%
New York State Dormitory Authority	4.000%	03/15/2047	0.4%
New York City Transitional Finance Authority Futur	4.000%	05/01/2043	0.4%
Triborough Bridge & Tunnel Authority	4.000%	11/15/2048	0.4%
New York Transportation Development Corp	4.000%	07/01/2031	0.4%
New York Transportation Development Corp	4.000%	07/01/2046	0.4%
New York State Dormitory Authority	4.000%	05/01/2045	0.4%
New York State Dormitory Authority	4.000%	03/15/2048	0.4%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	5.000%	07/01/2058	0.4%
Trust for Cultural Resources of The City of New Yo	4.000%	12/01/2033	0.4%
Westchester Tobacco Asset Securitization Corp	5.125%	06/01/2051	0.4%
Buffalo Municipal Water Finance Authority	5.000%	07/01/2048	0.4%
Metropolitan Transportation Authority	5.000%	11/15/2030	0.4%
City of New York NY	5.000%	08/01/2026	0.4%
Erie County Industrial Development Agency/The	5.000%	05/01/2027	0.4%
New York City Municipal Water Finance Authority	5.000%	06/15/2036	0.4%
New York City Municipal Water Finance Authority	5.000%	06/15/2048	0.4%
Dutchess County Local Development Corp	5.000%	07/01/2035	0.4%
New York State Thruway Authority	5.000%	01/01/2036	0.4%
New York City Industrial Development Agency	5.000%	07/01/2028	0.4%
City of New York NY	5.000%	08/01/2027	0.4%
Metropolitan Transportation Authority	5.000%	11/15/2029	0.4%
Metropolitan Transportation Authority	5.000%	11/15/2033	0.4%
New York State Dormitory Authority	4.000%	08/01/2037	0.4%
New York Transportation Development Corp	4.000%	12/01/2042	0.4%
New York City Municipal Water Finance Authority	5.000%	06/15/2035	0.4%
Niagara Area Development Corp	4.750%	11/01/2042	0.4%
New York City Industrial Development Agency	3.000%	01/01/2040	0.4%
New York City Industrial Development Agency	4.000%	03/01/2045	0.4%
Westchester County Local Development Corp	4.000%	06/01/2033	0.4%
Brookhaven Local Development Corp	4.000%	10/01/2045	0.4%
New York City Transitional Finance Authority Futur	4.000%	11/01/2042	0.4%
New York City Transitional Finance Authority Futur	5.000%	11/01/2032	0.4%
New York State Dormitory Authority	5.000%	07/01/2042	0.4%
New York City Municipal Water Finance Authority	5.250%	06/15/2037	0.4%
New York State Dormitory Authority	5.000%	01/01/2047	0.4%
New York State Urban Development Corp	4.000%	03/15/2047	0.4%
New York City Housing Development Corp	3.350%	11/01/2065	0.4%
New York Transportation Development Corp	5.250%	08/01/2031	0.4%
Metropolitan Transportation Authority	5.000%	11/15/2033	0.4%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	0.000%	07/01/2051	0.4%
New York City Municipal Water Finance Authority	5.000%	06/15/2035	0.4%
Port Authority of New York & New Jersey	5.000%	10/15/2027	0.4%
New York City Industrial Development Agency	4.000%	03/01/2045	0.3%
New York City Educational Construction Fund	4.000%	04/01/2038	0.3%
New York City Industrial Development Agency	3.000%	03/01/2049	0.3%
New York State Urban Development Corp	5.000%	03/15/2036	0.3%
Long Island Power Authority	4.000%	09/01/2038	0.3%
New York City Transitional Finance Authority Futur	4.000%	11/01/2042	0.3%
New York Transportation Development Corp	5.000%	01/01/2023	0.3%
City of New York NY	5.000%	08/01/2043	0.3%
New York City Industrial Development Agency	3.000%	03/01/2049	0.3%
New York City Transitional Finance Authority Futur	5.000%	05/01/2043	0.3%
Troy Capital Resource Corp	5.000%	08/01/2032	0.3%
City of New York NY	5.000%	04/01/2045	0.3%
New York State Dormitory Authority	4.000%	08/01/2038	0.3%
New York State Thruway Authority	4.000%	01/01/2041	0.3%
New York Transportation Development Corp	4.000%	10/31/2046	0.3%
Build NYC Resource Corp	5.000%	06/15/2051	0.3%
Build NYC Resource Corp	4.000%	07/01/2044	0.3%
New York State Environmental Facilities Corp	2.875%	12/01/2044	0.3%
New York City Transitional Finance Authority Futur	5.000%	05/01/2035	0.3%
New York State Dormitory Authority	5.000%	03/15/2027	0.3%
Broome County Local Development Corp	3.000%	04/01/2037	0.3%
Metropolitan Transportation Authority	5.250%	11/15/2031	0.3%
New York Transportation Development Corp	4.000%	12/01/2040	0.3%
New York State Urban Development Corp	4.000%	03/15/2044	0.3%
New York City Health and Hospitals Corp	4.000%	02/15/2045	0.3%
New York State Dormitory Authority	5.250%	01/01/2034	0.3%
Dutchess County Local Development Corp	4.000%	07/01/2044	0.3%
Long Island Power Authority	5.000%	09/01/2047	0.3%
Build NYC Resource Corp	5.000%	08/01/2033	0.3%
Build NYC Resource Corp	5.000%	07/01/2041	0.3%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.750%	07/01/2053	0.3%
Triborough Bridge & Tunnel Authority	5.000%	11/15/2047	0.3%
Metropolitan Transportation Authority	5.250%	11/15/2035	0.3%
Hudson Yards Infrastructure Corp	5.000%	02/15/2033	0.3%
Puerto Rico Electric Power Authority	0.000%	07/01/2036	0.3%
Dutchess County Local Development Corp	4.000%	07/01/2035	0.3%
New York State Dormitory Authority	5.000%	08/01/2033	0.3%
Troy Capital Resource Corp	4.000%	09/01/2036	0.3%
Erie Tobacco Asset Securitization Corp	0.000%	06/01/2060	0.3%
Erie County Industrial Development Agency/The	5.000%	05/01/2028	0.2%
New York Counties Tobacco Trust IV	0.000%	06/01/2060	0.2%
New York State Dormitory Authority	5.000%	07/01/2028	0.2%
Port Authority of New York & New Jersey	5.000%	04/01/2036	0.2%
New York State Dormitory Authority	5.000%	07/01/2029	0.2%
New York Transportation Development Corp	5.375%	08/01/2036	0.2%
City of New York NY	5.000%	08/01/2026	0.2%
New York City Municipal Water Finance Authority	5.250%	06/15/2047	0.2%
Metropolitan Transportation Authority	5.000%	11/15/2034	0.2%
New York State Urban Development Corp	5.000%	03/15/2040	0.2%
Port Authority of New York & New Jersey	5.000%	09/15/2028	0.2%
Port Authority of New York & New Jersey	5.000%	09/15/2034	0.2%
City of New York NY	5.000%	10/01/2039	0.2%
New York State Dormitory Authority	5.000%	07/01/2039	0.2%
Long Island Power Authority	4.000%	09/01/2039	0.2%
Metropolitan Transportation Authority	5.000%	11/15/2041	0.2%
New York State Dormitory Authority	5.000%	02/15/2039	0.2%
New York Transportation Development Corp	5.000%	12/01/2035	0.2%
Triborough Bridge & Tunnel Authority	5.000%	11/15/2038	0.2%
New York State Dormitory Authority	5.000%	12/01/2026	0.2%
TSASC Inc/NY	5.000%	06/01/2034	0.2%
Brookhaven Local Development Corp	5.000%	10/01/2050	0.2%
Genesee County Funding Corp/The	5.250%	12/01/2052	0.2%
Port Authority of New York & New Jersey	5.000%	10/15/2033	0.2%
Build NYC Resource Corp	5.000%	06/01/2040	0.2%
New York State Dormitory Authority	5.000%	10/01/2027	0.2%
Dutchess County Local Development Corp	5.000%	07/01/2045	0.2%
Suffolk Tobacco Asset Securitization Corp	0.000%	06/01/2066	0.2%
Dutchess County Local Development Corp	5.000%	07/01/2051	0.2%
Long Island Power Authority	5.000%	09/01/2039	0.2%
New York City Industrial Development Agency	3.000%	01/01/2046	0.2%
New York State Dormitory Authority	5.000%	05/01/2028	0.2%
New York City Transitional Finance Authority Futur	4.000%	08/01/2039	0.2%
Westchester County Local Development Corp	5.000%	06/01/2047	0.2%
Niagara Frontier Transportation Authority	5.000%	04/01/2027	0.2%
Southold Local Development Corp	5.000%	12/01/2045	0.2%
Westchester County Local Development Corp	5.000%	11/01/2033	0.2%
Buffalo & Erie County Industrial Land Development	5.000%	11/15/2037	0.2%
New York State Dormitory Authority	4.000%	07/01/2045	0.2%
Westchester County Local Development Corp	5.000%	11/01/2034	0.2%
Monroe County Industrial Development Corp/NY	4.000%	07/01/2043	0.2%
New York Liberty Development Corp	7.250%	11/15/2044	0.2%
Brookhaven Local Development Corp	4.000%	11/01/2045	0.2%
Brookhaven Local Development Corp	4.000%	11/01/2055	0.2%
New York Transportation Development Corp	4.000%	12/01/2041	0.2%
Troy Capital Resource Corp	4.000%	09/01/2040	0.2%
New York City Housing Development Corp	4.500%	02/15/2048	0.2%
Niagara Area Development Corp	5.000%	07/01/2052	0.2%
Dutchess County Local Development Corp	4.000%	07/01/2037	0.2%
Tompkins County Development Corp	5.000%	07/01/2044	0.2%
Metropolitan Transportation Authority	5.000%	11/15/2028	0.2%
New York Transportation Development Corp	3.000%	08/01/2031	0.2%
Broome County Local Development Corp	3.000%	04/01/2036	0.2%
New York State Dormitory Authority	5.000%	05/01/2023	0.2%
Niagara Frontier Transportation Authority	5.000%	04/01/2036	0.2%
Nassau County Tobacco Settlement Corp	0.000%	06/01/2060	0.2%
Hempstead Town Local Development Corp	5.000%	07/01/2034	0.2%
Port Authority of New York & New Jersey	5.000%	09/01/2032	0.2%
New York State Dormitory Authority	5.000%	07/01/2032	0.2%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.329%	07/01/2040	0.2%
New York State Dormitory Authority	5.000%	07/01/2028	0.2%
Troy Capital Resource Corp	4.000%	09/01/2034	0.2%
New York State Dormitory Authority	3.000%	02/01/2050	0.2%
New York Transportation Development Corp	4.000%	10/31/2041	0.2%
New York State Dormitory Authority	5.000%	07/01/2033	0.2%
New York State Housing Finance Agency	3.150%	11/01/2054	0.2%
Niagara Frontier Transportation Authority	5.000%	04/01/2038	0.2%
New York Liberty Development Corp	5.150%	11/15/2034	0.2%
City of Syracuse NY	4.000%	05/15/2034	0.2%
New York State Dormitory Authority	4.000%	07/01/2037	0.2%
Metropolitan Transportation Authority	5.250%	11/15/2032	0.2%
Territory of Guam	4.000%	01/01/2042	0.2%
Hempstead Town Local Development Corp	5.000%	07/01/2037	0.1%
Buffalo & Fort Erie Public Bridge Authority	5.000%	01/01/2034	0.1%
Guam Government Waterworks Authority	5.000%	01/01/2050	0.1%
Buffalo Municipal Water Finance Authority	5.000%	07/01/2043	0.1%
Nassau County Local Economic Assistance Corp	5.000%	07/01/2027	0.1%
Onondaga Civic Development Corp	5.000%	07/01/2046	0.1%
New York State Dormitory Authority	5.000%	07/01/2028	0.1%
Nassau County Local Economic Assistance Corp	5.000%	07/01/2033	0.1%
New York State Dormitory Authority	5.000%	07/01/2035	0.1%
Rockland Tobacco Asset Securitization Corp	0.000%	08/15/2060	0.1%
City of New York NY	5.500%	05/01/2044	0.1%
Hempstead Town Local Development Corp	5.000%	07/01/2042	0.1%
Hempstead Town Local Development Corp	5.000%	07/01/2039	0.1%
New York Transportation Development Corp	5.000%	12/01/2034	0.1%
Schenectady County Capital Resource Corp	5.250%	07/01/2052	0.1%
Hempstead Town Local Development Corp	5.000%	06/01/2029	0.1%
New York State Dormitory Authority	5.000%	08/01/2035	0.1%
TSASC Inc/NY	5.000%	06/01/2041	0.1%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit	5.000%	07/01/2030	0.1%
New York Transportation Development Corp	5.000%	12/01/2042	0.1%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit	5.000%	07/01/2047	0.1%
St Lawrence County Industrial Development Agency	5.000%	09/01/2038	0.1%
Onondaga Civic Development Corp	5.000%	07/01/2036	0.1%
Monroe County Industrial Development Corp/NY	4.000%	12/01/2035	0.1%
New York State Dormitory Authority	5.000%	07/01/2032	0.1%
St Lawrence County Industrial Development Agency	5.000%	09/01/2037	0.1%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.329%	07/01/2040	0.1%
Metropolitan Transportation Authority	5.250%	11/15/2034	0.1%
Commonwealth of Puerto Rico	0.000%	11/01/2043	0.1%
New York State Dormitory Authority	4.000%	07/01/2047	0.1%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	0.000%	07/01/2031	0.1%
Westchester County Local Development Corp	5.000%	07/01/2042	0.1%
New York State Dormitory Authority	4.000%	07/01/2034	0.1%
New York State Environmental Facilities Corp	2.750%	09/01/2050	0.1%
New York State Dormitory Authority	4.000%	08/01/2036	0.1%
Guam Government Waterworks Authority	5.000%	07/01/2036	0.1%
Monroe County Industrial Development Corp/NY	4.000%	12/01/2036	0.1%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	0.000%	07/01/2033	0.1%
Monroe Tobacco Asset Securitization Corp	0.000%	06/01/2061	0.1%
Dutchess County Local Development Corp	5.000%	07/01/2033	0.1%
New York State Dormitory Authority	5.000%	08/01/2034	0.1%
Onondaga Civic Development Corp	4.000%	07/01/2041	0.1%
New York State Dormitory Authority	5.000%	07/01/2046	0.1%
Onondaga Civic Development Corp	5.000%	07/01/2035	0.1%
Monroe County Industrial Development Corp/NY	5.000%	07/01/2031	0.1%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.550%	07/01/2040	0.1%
Hempstead Town Local Development Corp	5.000%	06/01/2032	0.1%
Port Authority of New York & New Jersey	5.000%	09/15/2048	0.1%
Erie Tobacco Asset Securitization Corp	0.000%	06/01/2055	0.1%
Niagara Frontier Transportation Authority	5.000%	04/01/2039	0.1%
Troy Capital Resource Corp	4.000%	09/01/2035	0.1%
Albany Capital Resource Corp	5.000%	05/01/2030	0.1%
Hempstead Town Local Development Corp	5.000%	06/01/2031	0.1%
New York Transportation Development Corp	4.000%	12/01/2039	0.1%
Metropolitan Transportation Authority	4.000%	11/15/2035	0.1%
Metropolitan Transportation Authority	5.000%	11/15/2030	0.1%
New York State Dormitory Authority	4.000%	07/01/2036	0.1%
Dutchess County Local Development Corp	4.000%	07/01/2040	0.1%
TSASC Inc/NY	5.000%	06/01/2035	0.1%
Brookhaven Local Development Corp	3.375%	10/01/2040	0.1%
Buffalo & Erie County Industrial Land Development	5.000%	07/01/2025	0.1%
Onondaga Civic Development Corp	4.000%	07/01/2040	0.1%
County of Erie NY	5.000%	09/15/2028	0.1%
Dutchess County Local Development Corp	5.000%	07/01/2046	0.1%
Dutchess County Local Development Corp	5.000%	07/01/2034	0.1%
Port Authority of New York & New Jersey	5.000%	09/15/2029	0.1%
Monroe County Industrial Development Corp/NY	5.000%	12/01/2034	0.1%
New York State Dormitory Authority	5.000%	07/01/2027	0.1%
City of New Rochelle NY	5.000%	07/01/2029	0.1%
Albany Capital Resource Corp	5.000%	05/01/2032	0.1%
Build NYC Resource Corp	5.000%	01/01/2035	0.1%
Troy Capital Resource Corp	4.000%	09/01/2031	0.1%
New York City Industrial Development Agency	0.000%	03/01/2044	0.1%
New York Transportation Development Corp	2.250%	08/01/2026	0.1%
City of New Rochelle NY	5.000%	07/01/2030	0.1%
Commonwealth of Puerto Rico	5.625%	07/01/2027	0.1%
Commonwealth of Puerto Rico	5.625%	07/01/2029	0.1%
Commonwealth of Puerto Rico	5.750%	07/01/2031	0.1%
Hempstead Town Local Development Corp	5.000%	06/01/2030	0.1%
Commonwealth of Puerto Rico	5.375%	07/01/2025	0.0%
City of New Rochelle NY	5.000%	07/01/2028	0.0%
Commonwealth of Puerto Rico	5.250%	07/01/2023	0.0%
Westchester County Local Development Corp	5.000%	07/01/2034	0.0%
City of New Rochelle NY	5.000%	07/01/2031	0.0%
Dutchess County Local Development Corp	5.000%	07/01/2041	0.0%
New York State Dormitory Authority	4.000%	01/01/2043	0.0%
Commonwealth of Puerto Rico	4.000%	07/01/2033	0.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.784%	07/01/2058	0.0%
New York City Industrial Development Agency	0.000%	03/01/2043	0.0%
St Lawrence County Industrial Development Agency	5.000%	09/01/2041	0.0%
New York State Thruway Authority	5.000%	01/01/2032	0.0%
Commonwealth of Puerto Rico	4.000%	07/01/2035	0.0%
Build NYC Resource Corp	4.500%	01/01/2025	0.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.550%	07/01/2040	0.0%
Onondaga Civic Development Corp	4.000%	07/01/2038	0.0%
Commonwealth of Puerto Rico	4.000%	07/01/2037	0.0%
Commonwealth of Puerto Rico	0.000%	07/01/2033	0.0%
New York City Industrial Development Agency	0.000%	03/01/2047	0.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	0.000%	07/01/2029	0.0%
TSASC Inc/NY	5.000%	06/01/2036	0.0%
Westchester County Healthcare Corp/NY	6.000%	11/01/2030	0.0%
Commonwealth of Puerto Rico	0.000%	07/01/2024	0.0%
Brooklyn Arena Local Development Corp	0.000%	07/15/2047	0.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev	4.536%	07/01/2053	0.0%
Westchester County Healthcare Corp/NY	6.125%	11/01/2037	0.0%
New York State Dormitory Authority	5.000%	05/01/2023	0.0%
New York State Dormitory Authority	5.000%	02/15/2041	0.0%

Dividends & Cap Gains

Dividend Payments

For

YTD Dividends Paidas of 07/01/2022: $0.098
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	06/30/2022	$0.01775	$10.44
Daily	Daily	05/31/2022	$0.01696	$10.80
Daily	Daily	04/30/2022	$0.01717	$10.68
Daily	Daily	03/31/2022	$0.01580	$11.12
Daily	Daily	02/28/2022	$0.01677	$11.60
Daily	Daily	01/31/2022	$0.01405	$11.72

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	07/31/2022
Daily	Daily	08/31/2022
Daily	Daily	09/30/2022
Daily	Daily	10/31/2022
Daily	Daily	11/30/2022
Daily	Daily	12/31/2022

Capital Gains Distributions

For

Record Date	Reinvest & Payable Date	Long-term	Short-term *	Total	Reinvest Price
12/19/2018	12/20/2018	$0.0038	-	$0.0038	$11.09

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor.

Upcoming Capital Gain Distribution

Record Date	Ex-Dividend Date
12/21/2022	12/22/2022

Fees & Expenses

Expense Ratioas of 05/31/2022

1.42%

Expense ratio details, Click here.

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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	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 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

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.

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

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 York Tax Free Fund?

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

Yield

Dividend Yield 1 as of 07/01/2022

30-Day Standardized Yield 2 as of 05/31/2022

Fund Basicsas of 05/31/2022

Fund Expense Ratio :

1.42%

Fund Expense Ratio :

1.42%

Fund Expense Ratio :

1.42%

Fund Expense Ratio :

1.42%

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Performance

Performance

Dividend Yield 1 as of 07/01/2022

30-Day Standardized Yield 2 as of 05/31/2022

Fund Expense Ratio :

1.42%

Fund Expense Ratio :

1.42%

Fund Expense Ratio :

1.42%

Fund Expense Ratio :

1.42%

NAV Historical Prices

Portfolio

Portfolio

Credit Quality Distribution as of 05/31/2022

Portfolio Details as of 05/31/2022

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Upcoming Dividend Payment Dates

Capital Gains Distributions

Upcoming Capital Gain Distribution

Fees & Expenses

Fees & Expenses

Expense Ratioas of 05/31/2022

Fund Documents

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Dividend Yield ¹ as of 07/01/2022

30-Day Standardized Yield ² as of 05/31/2022

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30-Day Standardized Yield ² as of 05/31/2022