Short Duration Core Bond Fund

LDCCX

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Daily price w/o sales charge as of 05/24/2018

$9.79

$0.00

YTD Returns w/o sales charge as of 05/24/2018

-0.28%

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

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Summary

What is the Short Duration Core Bond Fund ?

The Fund seeks to deliver current income consistent with the preservation of capital by investing in a wide variety of short duration investment grade debt securities including corporate debt securities, U.S. government and government-related securities, and mortgage-backed and other asset-backed securities.

EXPERIENCED, TENURED TEAM

Constructed through the collaboration among 50+ investment professionals with extensive experience managing, researching, and trading short-term debt securities.

HIGH QUALITY, LOW DURATION

Seeks to generate attractive income by investing in a broad range of high-quality, short duration bonds, limiting credit risk and interest rate risk.

LOW EXPENSES

Offers lower expenses relative to its Lipper and Morningstar peer group category average.

Yield

Dividend Yield as of 05/24/2018

	Subsidized	Un-Subsidized
w/o sales charge	2.26%	0.54%

30-Day Standardized Yield as of 04/30/2018

	Subsidized	Un-Subsidized
w/o sales charge	1.56%	0.00%

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

Fund Basicsas of 04/30/2018

Total Net Assets: $9.26 M
Inception Date: 04/20/2017
Dividend Frequency: Monthly
Fund Gross Expense Ratio: 3.12%
Fund Net Expense Ratio: 1.40%
Number of Holdings: 260
CUSIP: 54401X208
Minimum Initial Investment: $1,500+

Type	Assets
ABS
Investment Grade Corporate
CMBS
U.S. Government Related
Sovereign
High Yield Corporate
Bank Loans
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity	Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years

CREDIT QUALITY DISTRIBUTION as of 04/30/2018 View Portfolio

Rating	Assets
U.S. Treasury
AAA
AA
A
BBB
<BBB

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. 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 may not be 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

Kewjin Yuoh

Partner & Portfolio Manager

24 Years of Industry Experience

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

20 Years of Industry Experience

Supported By 63 Investment Professionals with 15 Years Avg. Industry Experience

Your Representative

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

Performance

Dividend Yield ¹ as of 05/24/2018

	Subsidized³	Un-Subsidized⁴
w/o sales charge	2.26%	0.54%

30-Day Standardized Yield ² as of 04/30/2018

	Subsidized	Un-Subsidized
w/o sales charge	1.56%	0.00%

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

Fund Expense Ratio :

Gross 3.12%

Net 1.40%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 04/19/2017

w/o sales charge	-0.42%	-0.28%	-	-	-	-0.24%
Lipper Category Avg. Short Investment Grade Debt Funds	-0.19%	0.60%	-	-	-	-
Bloomberg Barclays 1-3 Year US Government/Credit Bond Index	-0.30%	-0.05%	-	-	-	-0.13%
w/ sales charge	-1.41%	-0.28%	-	-	-	-0.24%

Fund Expense Ratio :

Gross 3.12%

Net 1.40%

Fund Expense Ratio :

Gross 3.12%

Net 1.40%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 04/19/2017

w/o sales charge	-0.31%	-	-	-	-	-0.13%
Lipper Category Avg. Short Investment Grade Debt Funds	-0.21%	-	-	-	-	-
Bloomberg Barclays 1-3 Year US Government/Credit Bond Index	-0.20%	-	-	-	-	-0.03%
w/ sales charge	-1.30%	-	-	-	-	-1.11%

Fund Expense Ratio :

Gross 3.12%

Net 1.40%

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 of future results.

Year	Fund Returns	Bloomberg Barclays 1-3 Year US Government/Credit Bond Index

2017

0.18%

0.84%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2018	-0.31%	-	-	-	-0.28%
2017	-	-	0.21%	-0.14%	0.18%

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

Type	Assets
ABS
Investment Grade Corporate
CMBS
U.S. Government Related
Sovereign
High Yield Corporate
Bank Loans
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity	Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years

CREDIT QUALITY DISTRIBUTION as of 04/30/2018

Rating	Assets
U.S. Treasury
AAA
AA
A
BBB
<BBB

Portfolio Positioning as of 03/31/2018

We remain generally optimistic that the U.S. economy will continue to grow at a moderate pace given implementation of tax cuts, prospects of deregulation, and strong economic fundamentals. However, given the current valuations and the potential for increased volatility, we believe it is prudent to maintain a higher credit-quality bias in order to be opportunistic. We are also seeking carry-oriented and idiosyncratic opportunities that would provide uncorrelated sources of return to the portfolio.
We remain constructive on the fundamentals of domestically focused asset classes, such as commercial mortgage-backed securities (CMBS). We believe these securities provide stable cash flows and meaningful carry opportunities. We have a barbell approach within the portfolio’s CMBS allocation, focusing on the “AAA” rated segment of the market and the “BBB” rated segment where we see attractive fundamentals and relative value.
We moderately increased portfolio’s allocation to investment grade corporate bonds, specifically adding exposure to names that we believe have attractive valuations and positive credit fundamentals.
We modestly decreased the portfolio’s exposure to high-quality asset-backed securities (ABS). While we continue to monitor this sector, as we believe it provides liquidity as well as presents unique opportunities to find pockets of relative value and attractive risk-adjusted spread, we reduced our positioning in order to take advantage of opportunities in other sectors.

Portfolio Details as of 04/30/2018

Total Net Assets: $9.26 M
Number of Issues: 260
Average Coupon: 3.62%
Average Life: 2.20 Years
Average Effective Duration: 1.92 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.

Modified Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates. Duration is expressed as a number of years, and generally, the larger a portfolio’s duration, the greater the interest-rate risk or reward for underlying bond prices. Where applicable, securities, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs and ADRs and futures, are excluded from these calculations.

Holding	Coupon	Maturity	Assets

U.S. Treasury Note/Bond	2.375%	04/30/2020	2.7%
U.S. Treasury Note/Bond	1.875%	12/15/2020	2.7%
Iraq Government AID Bond	2.149%	01/18/2022	2.1%
U.S. Treasury Note/Bond	2.750%	04/30/2023	1.9%
Massachusetts Educational Financing Authority	2.695%	04/25/2038	1.8%
Access Point Funding I 2017-1 LLC	3.060%	04/15/2029	1.7%
Drive Auto Receivables Trust 2017-1	3.840%	03/15/2023	1.2%
Ford Motor Credit Co. LLC	8.125%	01/15/2020	1.2%
Jefferies Group LLC	8.500%	07/15/2019	1.2%
Lloyds Bank plc	6.500%	09/14/2020	1.2%

% of Total Assets			17.7%

Holding	Coupon	Maturity	Assets

U.S. Treasury Note/Bond	2.000%	01/31/2020	5.8%
Iraq Government AID Bond	2.149%	01/18/2022	2.2%
Massachusetts Educational Financing Authority	2.695%	04/25/2038	1.9%
Access Point Funding I 2017-1 LLC	3.060%	04/15/2029	1.8%
U.S. Treasury Note/Bond	1.875%	12/15/2020	1.5%
Jefferies Group LLC	8.500%	07/15/2019	1.2%
Lloyds Bank plc	6.500%	09/14/2020	1.2%
Morgan Stanley	6.625%	04/01/2018	1.1%
OneMain Financial Issuance Trust 2016-1A	3.660%	02/20/2029	1.1%
Foursight Capital Automobile Receivables Trust 201	3.530%	04/17/2023	1.1%
Foursight Capital Automobile Receivables Trust 201	3.240%	09/15/2022	1.1%
Engs Commercial Finance Trust 2018-1	2.970%	02/22/2021	1.1%
NextGear Floorplan Master Owner Trust	2.380%	10/15/2020	1.1%
Exeter Automobile Receivables Trust 2017-3	2.050%	12/15/2021	1.1%
Barclays Dryrock Issuance Trust	2.410%	07/15/2022	1.1%
PFS Financing Corp.	2.890%	02/15/2023	1.1%
CPS Auto Receivables Trust 2017-D	3.010%	10/17/2022	1.1%
Leaf Receivables Funding 12 LLC	2.070%	08/15/2020	1.1%
Citibank Credit Card Issuance Trust	1.920%	04/07/2022	1.1%
Noble Energy, Inc.	5.625%	05/01/2021	1.1%
Bank of The West Auto Trust 2017-1	2.110%	01/15/2023	1.1%
Discover Card Execution Note Trust	2.390%	07/15/2024	1.1%
DLL Securitization Trust 2017-A	2.430%	11/17/2025	1.1%
Yara International ASA	7.875%	06/11/2019	1.1%
SCF Equipment Leasing 2017-2 LLC	3.410%	12/20/2023	1.0%
Macquarie Group Ltd.	7.625%	08/13/2019	0.9%
Province of Ontario, Canada	2.550%	02/12/2021	0.9%
AmeriCredit Automobile Receivables Trust 2017-3	2.240%	06/19/2023	0.9%
General Electric Co.	5.500%	01/08/2020	0.9%
OneMain Financial Issuance Trust 2015	3.190%	03/18/2026	0.9%
CFCRE Commercial Mortgage Trust 2018-TAN	4.236%	02/15/2033	0.9%
Santander UK Group Holdings plc	3.125%	01/08/2021	0.9%
Caesars Palace Las Vegas Trust 2017-VICI	3.835%	10/15/2034	0.9%
Entergy Corp.	5.125%	09/15/2020	0.9%
Bank of America Corp.	6.875%	04/25/2018	0.9%
Caesars Palace Las Vegas Trust 2017-VICI	3.531%	10/15/2034	0.8%
Hyundai Capital America	2.875%	08/09/2018	0.8%
AmeriCredit Automobile Receivables Trust 2017-4	2.040%	07/18/2022	0.8%
FMG Finance Pty Ltd.	9.750%	03/01/2022	0.8%
Drive Auto Receivables Trust 2017-1	3.840%	03/15/2023	0.7%
Santander Drive Auto Receivables Trust 2016-1	4.020%	04/15/2022	0.7%
Huntington Auto Trust 2015-1	1.950%	06/15/2021	0.7%
Nissan Auto Receivables 2017-C Owner Trust	2.120%	04/18/2022	0.7%
Dominion Resources, Inc.	2.500%	12/01/2019	0.7%
Capital One Multi-Asset Execution Trust	1.600%	05/17/2021	0.6%
Tesoro Logistics L.P.	6.250%	10/15/2022	0.6%
Energy Transfer Partners LP / Regency Energy Finan	5.875%	03/01/2022	0.6%
MSCG Trust	2.612%	06/07/2035	0.6%
Citibank Credit Card Issuance Trust	2.880%	01/23/2023	0.6%
Life Technologies Corp.	6.000%	03/01/2020	0.6%
BA Credit Card Trust	2.167%	10/15/2021	0.6%
Goldman Sachs Group, Inc.	2.625%	01/31/2019	0.6%
GreatAmerica Leasing Receivables Funding LLC Serie	2.680%	06/20/2022	0.6%
California Republic Auto Receivables Trust	2.700%	09/15/2021	0.6%
Ford Credit Auto Owner Trust	2.190%	07/15/2022	0.6%
Barclays Dryrock Issuance Trust 2016-1	1.520%	05/16/2022	0.5%
Carmax Auto Owner Trust	1.600%	01/18/2022	0.5%
Kinder Morgan Energy Partners L.P.	6.850%	02/15/2020	0.5%
Pennsylvania Electric Co.	5.200%	04/01/2020	0.5%
VEREIT Operating Partnership L.P.	3.000%	02/06/2019	0.5%
World Financial Network Credit Card Master Trust	2.030%	04/15/2025	0.5%
Drive Auto Receivables Trust	2.610%	08/16/2021	0.5%
BX Commercial Mortgage Trust 2018-BIOA	2.321%	03/15/2037	0.5%
Willis North America, Inc.	7.000%	09/29/2019	0.5%
Kilroy Realty L.P.	6.625%	06/01/2020	0.5%
Buckeye Partners L.P.	2.650%	11/15/2018	0.5%
Discover Financial Services	5.200%	04/27/2022	0.5%
World Financial Network Credit Card Master Trust	3.070%	12/16/2024	0.5%
World Financial Network Credit Card Master Trust	3.340%	04/17/2023	0.5%
International Lease Finance Corp.	8.250%	12/15/2020	0.5%
Glencore Finance Canada Ltd.	4.950%	11/15/2021	0.4%
Dominion Resources, Inc.	1.500%	09/30/2018	0.4%
Taco Bell Funding LLC	3.832%	05/25/2046	0.4%
Santander UK plc	2.500%	03/14/2019	0.4%
Duqesne Light Holdings, Inc.	6.400%	09/15/2020	0.4%
J.P. Morgan Chase Commercial Mortgage Securities T	2.798%	10/05/2031	0.4%
U.S. Treasury Note/Bond	2.375%	01/31/2023	0.4%
Diamond Resorts Owner Trust	3.080%	11/20/2028	0.4%
California Republic Auto Receivables Trust 2017-1	2.910%	12/15/2022	0.4%
Continental Resources, Inc.	5.000%	09/15/2022	0.4%
J.P. Morgan Chase Commercial Mortgage Securities T	2.968%	07/15/2034	0.4%
BX Trust 2017-SLCT	3.177%	07/15/2034	0.4%
J.P. Morgan Chase Commercial Mortgage Securities T	3.917%	10/15/2032	0.4%
Exeter Automobile Receivables Trust 2017-3	2.810%	09/15/2022	0.4%
HSBC USA, Inc.	9.300%	06/01/2021	0.4%
Fifth Third Auto Trust 2017-1	2.030%	07/15/2024	0.4%
International Lease Finance Corp.	5.875%	04/01/2019	0.4%
ITC Holdings Corp.	5.500%	01/15/2020	0.3%
Great Wolf Trust 2017-WOLF	4.027%	09/15/2034	0.3%
MPLX L.P.	5.500%	02/15/2023	0.3%
CNH Equipment Trust	1.650%	09/15/2021	0.3%
Capital One Multi-Asset Execution Trust	2.000%	01/17/2023	0.3%
American Credit Acceptance Receivables Trust 2018-	2.720%	03/10/2021	0.3%
Dell International LLC / EMC Corp.	5.450%	06/15/2023	0.3%
World Financial Network Credit Card Master Trust	2.310%	08/15/2024	0.3%
Chrysler Capital Auto Receivables Trust 2016-A	1.770%	10/15/2020	0.3%
Teva Pharmaceutical Finance Netherlands III BV	1.700%	07/19/2019	0.3%
Hilton Orlando Trust 2018-ORL	2.547%	12/15/2034	0.3%
World Financial Network Credit Card Master Trust	2.150%	04/17/2023	0.3%
CarMax Auto Owner Trust 2017-3	1.970%	04/15/2022	0.3%
HMH Trust 2017-NSS	3.787%	07/05/2031	0.3%
Bunge Ltd. Finance Corp.	8.500%	06/15/2019	0.3%
PPL WEM Ltd./Western Power Distribution Ltd.	5.375%	05/01/2021	0.3%
Northern Natural Gas	4.250%	06/01/2021	0.3%
Buckeye Partners L.P.	5.500%	08/15/2019	0.3%
WFRBS Commercial Mortgage Trust	4.760%	06/15/2045	0.3%
Goldcorp, Inc.	3.625%	06/09/2021	0.3%
Glencore Funding LLC	3.125%	04/29/2019	0.3%
Morgan Stanley Capital I Trust	3.773%	03/15/2045	0.3%
Glencore Funding LLC	2.125%	04/16/2018	0.3%
Hyundai Capital America	2.400%	10/30/2018	0.3%
Western Gas Partners L.P.	2.600%	08/15/2018	0.3%
ReadyCap Commercial Mortgage Trust 2018-4	3.390%	02/27/2051	0.3%
Ford Credit Floorplan Master Owner Trust A	2.390%	08/15/2022	0.3%
CarMax Auto Owner Trust	1.400%	08/15/2021	0.3%
MSCG Trust	3.348%	11/15/2034	0.3%
WFRBS Commercial Mortgage Trust 2012-C9	2.870%	11/15/2045	0.3%
Mylan, Inc.	3.000%	12/15/2018	0.3%
J.P. Morgan Chase Commercial Mortgage Securities T	3.554%	10/05/2031	0.3%
J.P. Morgan Chase Commercial Mortgage Securities T	4.009%	10/05/2031	0.3%
U.S. Treasury Note/Bond	1.875%	04/30/2022	0.3%
U.S. Treasury Note/Bond	1.625%	12/31/2019	0.3%
TCF Auto Receivables Owner Trust 2016-PT1	2.920%	10/17/2022	0.3%
General Motors Financial Co., Inc.	3.150%	06/30/2022	0.3%
LSTAR Commercial Mortgage Trust	2.729%	04/20/2048	0.3%
Enbridge Energy Partners L.P.	9.875%	03/01/2019	0.2%
Citibank Credit Card Issuance Trust	2.680%	06/07/2023	0.2%
Santander Drive Auto Receivables Trust	2.570%	04/15/2021	0.2%
Motel 6 Trust 2017-MTL6	3.927%	08/15/2034	0.2%
Puget Energy, Inc.	6.000%	09/01/2021	0.2%
Magellan Midstream Partners L.P.	6.550%	07/15/2019	0.2%
Anadarko Petroleum Corp.	8.700%	03/15/2019	0.2%
Spectra Energy Partners L.P.	4.600%	06/15/2021	0.2%
Government National Mortgage Association	2.700%	08/16/2058	0.2%
WFRBS Commercial Mortgage Trust	3.223%	09/15/2046	0.2%
American Credit Acceptance Receivables Trust 2015-	4.840%	10/12/2021	0.2%
Compass Bank	5.500%	04/01/2020	0.2%
Healthcare Trust of America Holdings LP	3.375%	07/15/2021	0.2%
CVS Caremark Corp.	3.350%	03/09/2021	0.2%
J.P. Morgan Chase Commercial Mortgage Securities T	3.668%	07/15/2034	0.2%
Dominion Resources, Inc.	2.962%	07/01/2019	0.2%
BBCMS 2017-GLKS Mortgage Trust	2.977%	11/15/2034	0.2%
Stonemont Portfolio Trust 2017-STONE	3.872%	08/20/2030	0.2%
BBCMS 2017-GLKS Mortgage Trust	3.177%	11/15/2034	0.2%
Florida Power & Light Co.	2.069%	11/06/2020	0.2%
World Financial Network Credit Card Master Trust	2.257%	02/15/2022	0.2%
Lazard Group LLC	4.250%	11/14/2020	0.2%
Government National Mortgage Association	3.000%	01/16/2048	0.2%
San Diego Gas & Electric Co	1.914%	02/01/2022	0.2%
Florida Gas Transmission Co., LLC	5.450%	07/15/2020	0.2%
Motiva Enterprises LLC	5.750%	01/15/2020	0.2%
NV Energy, Inc.	6.250%	11/15/2020	0.2%
EnCana Corp.	6.500%	05/15/2019	0.2%
Ally Auto Receivables Trust 2014-3	2.140%	07/15/2020	0.2%
Caesars Palace Las Vegas Trust 2017-VICI	0.393%	10/15/2034	0.2%
AmeriCredit Automobile Receivables Trust 2017-4	2.600%	09/18/2023	0.2%
Activision Blizzard, Inc.	6.125%	09/15/2023	0.2%
Liberty Mutual Group, Inc.	5.000%	06/01/2021	0.2%
General Motors Financial Co., Inc.	3.200%	07/06/2021	0.2%
World Financial Network Credit Card Master Trust	1.980%	06/15/2023	0.2%
Credit Suisse Group AG	5.400%	01/14/2020	0.2%
Continental Resources, Inc.	4.500%	04/15/2023	0.2%
Pioneer Natural Resources Co.	6.875%	05/01/2018	0.2%
E. On International Finance BV	5.800%	04/30/2018	0.2%
International Lease Finance Corp.	7.125%	09/01/2018	0.2%
Senior Housing Properties Trust	3.250%	05/01/2019	0.2%
CarFinance Capital Auto Trust	1.750%	06/15/2021	0.2%
Total System Services, Inc.	2.375%	06/01/2018	0.2%
BX Trust 2017-SLCT	3.827%	07/15/2034	0.2%
Nissan Motor Acceptance Corp.	2.650%	09/26/2018	0.2%
AmeriCredit Automobile Receivables Trust 2017-4	3.080%	12/18/2023	0.2%
Ascentium Equipment Receivables 2016-2 Trust	1.460%	04/10/2019	0.2%
West Town Mall Trust 2017-KNOX	4.346%	07/05/2030	0.2%
Government National Mortgage Association	2.750%	02/16/2058	0.2%
West Town Mall Trust 2017-KNOX	4.346%	07/05/2030	0.2%
Government National Mortgage Association	2.700%	04/16/2057	0.2%
BX Trust 2017-APPL	3.827%	07/15/2034	0.2%
Dell International LLC / EMC Corp	3.480%	06/01/2019	0.1%
Capital One Multi-Asset Execution Trust	2.177%	03/15/2023	0.1%
World Financial Network Credit Card Master Trust	2.660%	08/15/2024	0.1%
Santander Drive Auto Receivables Trust 2017-2	1.600%	03/16/2020	0.1%
Goldman Sachs Group, Inc.	2.876%	10/31/2022	0.1%
Florida Gas Transmission Co., LLC	7.900%	05/15/2019	0.1%
CarMax Auto Owner Trust 2017-3	2.220%	11/15/2022	0.1%
Dell Intl LLC	3.380%	12/31/2018	0.1%
Texas Eastern Transmission L.P.	4.125%	12/01/2020	0.1%
Caesars Palace Las Vegas Trust 2017-VICI	4.138%	10/15/2034	0.1%
International Lease Finance Corp.	7.125%	09/01/2018	0.1%
Caesars Palace Las Vegas Trust 2017-VICI	4.354%	10/15/2034	0.1%
Newell Rubbermaid, Inc.	3.850%	04/01/2023	0.1%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The	2.627%	01/15/2033	0.1%
Chase Issuance Trust	2.770%	03/15/2023	0.1%
Pentair Finance SA	2.900%	09/15/2018	0.1%
Vulcan Materials Co.	2.725%	06/15/2020	0.1%
Wells Fargo Commercial Mortgage Trust 2015-C26	2.991%	02/15/2048	0.1%
Motel 6 Trust 2017-MTL6	3.177%	08/15/2034	0.1%
Citigroup Commercial Mortgage Trust	2.944%	02/10/2048	0.1%
Flagship Credit Auto Trust 2017-3	2.590%	07/15/2022	0.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.	2.375%	01/15/2020	0.1%
First Investors Auto Owner Trust	2.410%	12/15/2022	0.1%
WFRBS Commercial Mortgage Trust 2012-C10	2.875%	12/15/2045	0.1%
First Investors Auto Owner Trust	2.720%	04/17/2023	0.1%
Southern Copper Corp.	5.375%	04/16/2020	0.1%
Nexen, Inc.	6.200%	07/30/2019	0.1%
UBS-Citigroup Commercial Mortgage Trust	3.595%	01/10/2045	0.1%
General Motors Financial Co., Inc.	2.400%	05/09/2019	0.1%
Flagship Credit Auto Trust 2017-4	2.070%	04/15/2022	0.1%
First Investors Auto Owner Trust	2.000%	03/15/2022	0.1%
Martin Marietta Materials, Inc.	2.096%	05/22/2020	0.1%
CVS Caremark Corp.	3.125%	03/09/2020	0.1%
Keurig Green Mountain Inc	3.000%	03/03/2021	0.1%
Santander Drive Auto Receivables Trust 2017-2	2.790%	08/15/2022	0.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.	2.650%	01/15/2023	0.1%
LSTAR Commercial Mortgage Trust	2.767%	01/20/2041	0.1%
Bank of America Corp.	2.328%	10/01/2021	0.1%
Citigroup Commercial Mortgage Trust	1.987%	04/10/2046	0.1%
Holcim US Finance Sarl & Cie SCS	6.000%	12/30/2019	0.1%
Macquarie Group Ltd.	6.000%	01/14/2020	0.1%
Illinois, IL	4.950%	06/01/2023	0.1%
AmeriCredit Automobile Receivables Trust 2017-3	1.690%	12/18/2020	0.1%
Becton, Dickinson & Co.	2.944%	12/29/2020	0.1%
Santander Drive Auto Receivables Trust 2017-2	2.210%	10/15/2021	0.1%
Government National Mortgage Association	2.750%	02/16/2058	0.1%
Government National Mortgage Association	2.750%	02/16/2058	0.1%
Johnson Controls International plc	5.000%	03/30/2020	0.1%
W.R. Berkley Corp.	5.375%	09/15/2020	0.1%
Sunoco Logistics Partners L.P.	4.400%	04/01/2021	0.1%
Kinder Morgan, Inc.	7.250%	06/01/2018	0.1%
COMM Mortgage Trust	2.122%	03/10/2046	0.1%
Ascentium Equipment Receivables 2017-1 Trust	1.870%	07/10/2019	0.1%
Sempra Energy	2.209%	01/15/2021	0.1%
Government National Mortgage Association	2.600%	07/16/2058	0.1%
Pioneer Natural Resources Co.	7.500%	01/15/2020	0.0%
SCANA Corp.	6.250%	04/01/2020	0.0%
SCANA Corp.	4.750%	05/15/2021	0.0%
Columbia Pipeline Group, Inc.	3.300%	06/01/2020	0.0%
PNM Resources, Inc.	3.250%	03/09/2021	0.0%
Drive Auto Receivables Trust	2.560%	06/15/2020	0.0%
Bank of America Corp.	2.369%	07/21/2021	0.0%
RP Select Finance Trust	3.141%	10/14/2021	0.0%
Carmax Auto Owner Trust	1.170%	08/15/2019	0.0%
TCF Auto Receivables Owner Trust 2015-2	2.060%	04/15/2020	0.0%
Goldman Sachs Group, Inc.	6.150%	04/01/2018	0.0%
Glencore Funding LLC	4.125%	05/30/2023	0.0%
AT&T, Inc.	2.850%	02/14/2023	0.0%
Emera US Finance L.P.	2.150%	06/15/2019	0.0%
Phillips 66	2.606%	02/26/2021	0.0%
Glencore Funding LLC	2.500%	01/15/2019	0.0%
Ascentium Equipment Receivables 2017-1 Trust	2.290%	06/10/2021	0.0%
GM Financial Consumer Automobile 2017-1	2.300%	06/16/2023	0.0%
E*TRADE Financial Corp.	2.950%	08/24/2022	0.0%
Morgan Stanley Bank of America Merrill Lynch Trust	1.970%	05/15/2046	0.0%
CarFinance Capital Auto Trust	1.440%	11/16/2020	0.0%
Kinder Morgan Energy Partners L.P.	2.650%	02/01/2019	0.0%
SCANA Corp.	4.125%	02/01/2022	0.0%
WFRBS Commercial Mortgage Trust	1.964%	05/15/2045	0.0%
Commercial Mortgage Backed Index Swap	2.000%	05/11/2063	0.0%
Commercial Mortgage Backed Index Swap	1.500%	05/11/2063	0.0%
Commercial Mortgage Backed Index Swap	2.000%	05/11/2063	0.0%
Commercial Mortgage Backed Index Swap	1.500%	05/11/2063	0.0%
US 5YR NOTE (CBT) JUN18	0.000%	07/05/2018	0.0%
US 2YR NOTE (CBT) JUN18	0.000%	07/05/2018	0.0%
Commercial Mortgage Backed Index Swap	1.500%	05/11/2063	0.0%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 05/24/2018: $0.067
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	04/30/2018	$0.01846	$9.79
Daily	Daily	03/31/2018	$0.01680	$9.82
Daily	Daily	02/28/2018	$0.01652	$9.83
Daily	Daily	01/31/2018	$0.01622	$9.86

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	05/31/2018
Daily	Daily	06/30/2018
Daily	Daily	07/31/2018
Daily	Daily	08/31/2018
Daily	Daily	09/30/2018
Daily	Daily	10/31/2018
Daily	Daily	11/30/2018
Daily	Daily	12/31/2018

Fees & Expenses

EXPENSE RATIOas of 04/30/2018

Fund Gross Expense Ratio	Fund Net Expense Ratio
3.12%	1.40%

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 03/31/2019. 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.

Fund Documents

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	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

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.

12-Month Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to its value with maximum sales charges and without sales charges. The fund’s dividend yield is calculated by dividing the fund’s income distributions over the previous year by the fund’s current 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

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investment strategy. Diversification does not guarantee a profit or protect against loss in declining markets.

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. 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 prices of debt securities tend to rise. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance. The fund performance history at this time is very limited; therefore, performance achieved during its initial period of investment operation may not be replicated over longer periods and may not be indicative of how the Fund will perform in the future. Past performance is no guarantee of future results.

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.

Class C - Class C shares are subject to ongoing 12b-1 service and distribution fees as well as a maximum CDSC of 1 percent if you redeem your shares before the first anniversary of your original purchase.

Class C shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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 Barclays U.S. 1 to 3 Year Government/Credit Index is an unmanaged index that is designed to represent a combination of the Government Bond Index and the Corporate Bond Index, and includes U.S. government Treasury and agency securities, corporate bonds, and Yankee bonds with maturities of 1 to 3 years.

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.

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

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Summary

Summary

What is the Short Duration Core Bond Fund ?

EXPERIENCED, TENURED TEAM

HIGH QUALITY, LOW DURATION

LOW EXPENSES

Yield

Dividend Yield as of 05/24/2018

30-Day Standardized Yield as of 04/30/2018

Fund Basicsas of 04/30/2018

CREDIT QUALITY DISTRIBUTION as of 04/30/2018 View Portfolio

INVESTMENT TEAM

Your Representative

Performance

Performance

Dividend Yield 1 as of 05/24/2018

30-Day Standardized Yield 2 as of 04/30/2018

Fund Expense Ratio :

Gross 3.12%

Net 1.40%

Fund Expense Ratio :

Gross 3.12%

Net 1.40%

Fund Expense Ratio :

Gross 3.12%

Net 1.40%

Fund Expense Ratio :

Gross 3.12%

Net 1.40%

NAV Historical Prices

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 04/30/2018

Portfolio Positioning as of 03/31/2018

Portfolio Details as of 04/30/2018

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

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Dividend Yield ¹ as of 05/24/2018

30-Day Standardized Yield ² as of 04/30/2018