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Short Duration Core Bond Fund

Daily price w/o sales charge as of 05/17/2019

$9.83

$0.00

YTD Returns w/o sales charge as of 05/17/2019

1.83%

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

Click here to view all legal text including risk information

Summary

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 05/17/2019  

  Subsidized Un-Subsidized
w/o sales charge 2.53% 0.02%

30-Day Standardized Yield as of 04/30/2019  

  Subsidized Un-Subsidized
w/o sales charge 1.99% 0.67%

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

Fund Basicsas of 04/30/2019

Total Net Assets
$18.55 M
Inception Date
04/20/2017
Dividend Frequency
Monthly
Fund Gross Expense Ratio
3.90%
Fund Net Expense Ratio
1.39%
Number of Holdings
326
Minimum Initial Investment
$1,500+
Type Assets
ABS
Investment Grade Corporate
U.S. Government Related
CMBS
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 04/30/2019 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
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
Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner & Portfolio Manager

21 Years of Industry Experience

Supported By 69 Investment Professionals with 15 Years Avg. Industry Experience

Your Representative

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

Performance

Performance

Dividend Yield 1 as of 05/17/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.53% 0.02%

30-Day Standardized Yield 2 as of 04/30/2019  

  Subsidized Un-Subsidized
w/o sales charge 1.99% 0.67%

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

Fund Expense Ratio :

Gross 3.90%

Net 1.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/19/2017
w/o sales charge 1.71% 2.89% - - - 1.29%
Lipper Category Avg. Short Investment Grade Debt Funds 1.98% 3.19% - - - -
Bloomberg Barclays 1-3 Year US Government/Credit Bond Index 1.44% 3.37% - - - 1.58%
w/ sales charge 0.71% 2.89% - - - 1.29%

Fund Expense Ratio :

Gross 3.90%

Net 1.39%

Fund Expense Ratio :

Gross 3.90%

Net 1.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/19/2017
w/o sales charge 1.39% 2.45% - - - 1.18%
Lipper Category Avg. Short Investment Grade Debt Funds 1.66% 2.89% - - - -
Bloomberg Barclays 1-3 Year US Government/Credit Bond Index 1.21% 3.03% - - - 1.53%
w/ sales charge 0.39% 2.45% - - - 1.18%

Fund Expense Ratio :

Gross 3.90%

Net 1.39%

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
2018 0.73% 1.60%
2017 0.18% 0.84%
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 1.39% - - - 1.84%
2018 -0.31% 0.17% 0.33% 0.54% 0.73%
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

Portfolio

Type Assets
ABS
Investment Grade Corporate
U.S. Government Related
CMBS
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 04/30/2019

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
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.

Portfolio Positioning as of 03/31/2019

  • We maintain a positive outlook on U.S. domestic growth and are cautiously optimistic in the U.S. economy. In response to the U.S. Federal Reserve’s (“Fed”) dovish policy stance, we believe it will take a significant amount of economic growth, a tight labor market, and a pick-up in inflation for the Fed to resume tightening. Therefore, we believe volatility will remain subdued and risk assets will benefit.
  • During the fourth quarter of 2018, we had increased the portfolio’s allocation to “BBB” rated investment grade corporate bonds in order to capitalize on spreads widening. As investor demand for short credit increased and spreads began to tighten during the first quarter of 2019, we allowed risk assets to run off and reallocated to U.S. Treasuries in an attempt to reduce the risk profile of the portfolio.
  • We also reduced the portfolio’s allocation to asset-backed securities. While we continue to believe this sector offers attractive risk-adjusted spread, relative value and liquidity, specifically within auto loans and credit card receivables, we decreased the portfolio’s exposure, allowing spread assets to mature.
  • We increased the portfolio’s exposure to commercial mortgage-backed securities (“CMBS”). We maintain a positive outlook for the CMBS market, as we believe this sector offers attractive risk-adjusted returns. In particular, we remain attracted to single-asset, single-borrower issues over traditional CMBS and conduit CMBS due to their strong underwriting standards and lower spread volatility.

Portfolio Details as of 04/30/2019

Total Net Assets
$18.55 M
Number of Issues
326
Average Coupon
3.56%
Average Life
2.34 Years
Average Effective Duration
1.74 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 2.500% 01/31/2021 21.4%
U.S. Treasury Note 0.625% 04/15/2023 4.3%
ALM VII Ltd 4.077% 10/15/2028 1.4%
Lloyds Bank plc 6.500% 09/14/2020 1.1%
Anglo American Capital plc 3.750% 04/10/2022 1.1%
CPS Auto Receivables Trust 2017-C 3.790% 06/15/2023 1.1%
Saudi Arabian Oil Co 2.750% 04/16/2022 1.1%
Danske Bank A/S 2.750% 09/17/2020 1.1%
Mountain Hawk III CLO Ltd. 3.801% 04/18/2025 0.8%
WFRBS Commercial Mortgage Trust 3.995% 05/15/2047 0.8%
% of Total Assets 34.2%
Holding Coupon Maturity Assets
U.S. Treasury Note/Bond2.500% 01/31/202121.1%
U.S. Treasury Note0.625% 04/15/20234.4%
ALM VII Ltd4.267% 10/15/20281.4%
U.S. Treasury Note/Bond2.500% 01/31/20241.4%
Lloyds Bank plc6.500% 09/14/20201.2%
CPS Auto Receivables Trust 2017-C3.790% 06/15/20231.1%
U.S. Treasury Note/Bond2.125% 03/31/20241.0%
Mountain Hawk III CLO Ltd.3.980% 04/18/20251.0%
WFRBS Commercial Mortgage Trust3.995% 05/15/20470.8%
Citigroup Commercial Mortgage Trust3.024% 09/10/20450.8%
Massachusetts Educational Financing Authority3.721% 04/25/20380.7%
Santander UK Group Holdings plc3.125% 01/08/20210.7%
Wells Fargo Commercial Mortgage Trust 2017-RC13.118% 01/15/20600.6%
Fairstone Financial Issuance Trust I5.084% 03/21/20330.6%
COMM Mortgage Trust3.819% 06/10/20470.6%
Drive Auto Receivables Trust 2017-13.840% 03/15/20230.6%
Sabine Pass Liquefaction LLC5.625% 04/15/20230.6%
Vodafone Group plc3.750% 01/16/20240.6%
Dell International LLC / EMC Corp.5.450% 06/15/20230.6%
Continental Credit Card 2016-111.330% 01/15/20250.6%
JPMBB Commercial Mortgage Securities Trust 2014-C23.801% 09/15/20470.6%
Jefferies Group LLC8.500% 07/15/20190.6%
CPS Auto Receivables Trust 2016-C5.920% 06/15/20220.6%
Morgan Stanley Capital I Trust4.661% 06/15/20440.6%
Ford Motor Credit Co. LLC0.000% 12/04/20190.6%
BB-UBS Trust3.430% 11/05/20360.6%
Drive Auto Receivables Trust4.090% 01/15/20260.6%
NBCUniversal Enterprise, Inc.5.250% 06/19/20990.6%
CPS Auto Receivables Trust 2019-A3.890% 12/16/20240.6%
Foursight Capital Automobile Receivables Trust 2013.680% 08/15/20230.6%
OneMain Financial Issuance Trust 2019-13.790% 02/14/20310.6%
Foursight Capital Automobile Receivables Trust 2013.530% 04/17/20230.6%
Hudsons Bay Simon JV Trust3.914% 08/05/20340.6%
Master Credit Card Trust3.570% 07/21/20220.6%
Bank of America Corp.3.004% 12/20/20230.6%
Westlake Automobile Receivables Trust 2018-33.320% 10/16/20230.6%
Foursight Capital Automobile Receivables Trust 2013.240% 09/15/20220.6%
Mercedes-Benz Master Owner Trust 2018-BA2.824% 05/15/20230.6%
PFS Financing Corp.2.890% 02/15/20230.6%
Synchrony Credit Card Master Note Trust2.640% 03/15/20230.6%
Morgan Stanley Bank of America Merrill Lynch Trust3.277% 10/15/20300.6%
Bank of The West Auto Trust 2017-12.110% 01/15/20230.6%
Caesars Palace Las Vegas Trust 2017-VICI3.531% 10/15/20340.5%
Chesapeake Funding II LLC2.854% 08/15/20300.5%
Westlake Automobile Receivables Trust 2018-32.980% 01/18/20220.5%
Morgan Stanley Capital Barclays Bank Trust 2016-MA2.200% 09/13/20310.5%
Barclays Bank plc10.179% 06/12/20210.5%
Yara International ASA7.875% 06/11/20190.5%
Hilton Grand Vacations Trust 2018-A3.540% 02/25/20320.5%
WFRBS Commercial Mortgage Trust 2014-C194.101% 03/15/20470.5%
General Motors Financial Co., Inc.3.150% 06/30/20220.5%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.5%
UBS-Barclays Commercial Mortgage Trust3.244% 04/10/20460.5%
COMM Mortgage Trust3.612% 06/10/20460.5%
AmeriCredit Automobile Receivables Trust 2017-32.240% 06/19/20230.5%
Macquarie Group Ltd.7.625% 08/13/20190.5%
CFCRE Commercial Mortgage Trust 2018-TAN4.236% 02/15/20330.5%
OneMain Financial Issuance Trust 2016-1A3.660% 02/20/20290.5%
Towd Point Asset Trust 2018-SL13.090% 01/25/20460.4%
Caesars Palace Las Vegas Trust 2017-VICI3.835% 10/15/20340.4%
COMM 2014-LC15 Mortgage Trust4.006% 04/10/20470.4%
Diamond Resorts Owner Trust 2018-14.190% 01/21/20310.4%
JPMBB Commercial Mortgage Securities Trust3.494% 01/15/20480.4%
Continental Resources, Inc.5.000% 09/15/20220.4%
Entergy Corp.5.125% 09/15/20200.4%
Goldman Sachs Group, Inc.3.618% 04/26/20220.4%
Exeter Automobile Receivables Trust 2017-33.680% 07/17/20230.4%
BBCMS Trust3.323% 09/10/20280.4%
Cox Communications, Inc.2.950% 06/30/20230.4%
Discover Financial Services5.200% 04/27/20220.4%
Capital One Multi-Asset Execution Trust2.994% 09/16/20240.4%
American Express Credit Account Master Trust2.934% 09/16/20240.4%
Glencore Finance Canada Ltd.4.950% 11/15/20210.4%
Flagship Credit Auto Trust 2019-13.390% 01/16/20240.4%
Newell Rubbermaid, Inc.3.850% 04/01/20230.4%
Navient Student Loan Trust 2017-23.536% 12/27/20660.4%
Dollar Tree, Inc.3.149% 04/17/20200.4%
International Lease Finance Corp.8.250% 12/15/20200.4%
J.P. Morgan Chase Commercial Mortgage Securities T2.798% 10/05/20310.4%
Santander Drive Auto Receivables Trust 2016-14.020% 04/15/20220.4%
International Lease Finance Corp.5.875% 08/15/20220.4%
PerkinElmer, Inc.5.000% 11/15/20210.4%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.4%
GM Financial Consumer Automobile Receivables Trust2.990% 03/16/20220.4%
SLC Student Loan Trust 2008-14.211% 12/15/20320.3%
Chesapeake Funding II LLC1.910% 08/15/20290.3%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.3%
Sierra Timeshare 2016-1 Receivables Funding LLC3.080% 03/21/20330.3%
Chesapeake Funding II LLC1.990% 05/15/20290.3%
SMB Private Education Loan Trust 2018-B2.804% 12/16/20240.3%
National Oilwell Varco, Inc.2.600% 12/01/20220.3%
Tesoro Logistics L.P.6.250% 10/15/20220.3%
Goldman Sachs Group, Inc.5.750% 01/24/20220.3%
Energy Transfer Partners LP / Regency Energy Finan5.875% 03/01/20220.3%
Time Warner Cable LLC8.250% 04/01/20190.3%
Caesars Palace Las Vegas Trust 2017-VICI4.138% 10/15/20340.3%
Healthcare Trust of America Holdings LP3.700% 04/15/20230.3%
Aircastle Ltd.4.400% 09/25/20230.3%
Motiva Enterprises LLC5.750% 01/15/20200.3%
Drive Auto Receivables Trust5.150% 08/15/20220.3%
UBS-Barclays Commercial Mortgage Trust2.850% 12/10/20450.3%
California Republic Auto Receivables Trust2.700% 09/15/20210.3%
Goldman Sachs Group, Inc.2.908% 06/05/20230.3%
Ford Credit Auto Owner Trust2.190% 07/15/20220.3%
BAT Capital Corp3.222% 08/15/20240.3%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.3%
Engs Commercial Finance Trust 2018-12.970% 02/22/20210.3%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.3%
MSCG Trust2.612% 06/07/20350.3%
General Motors Financial Co., Inc.3.200% 07/06/20210.3%
BX Commercial Mortgage Trust 2018-BIOA3.155% 03/15/20370.2%
Pentair Finance SA3.150% 09/15/20220.2%
Macquarie Bank Ltd.6.625% 04/07/20210.2%
GM Financial Consumer Automobile Receivables Trust3.370% 08/16/20240.2%
Willis North America, Inc.7.000% 09/29/20190.2%
Morgan Stanley Bank of America Merrill Lynch Trust4.064% 02/15/20470.2%
World Financial Network Credit Card Master Trust3.340% 04/17/20230.2%
Shelter Growth CRE 2018-FL1 Issuer Ltd3.484% 01/15/20350.2%
Conn's Receivables Funding 2018-A LLC3.250% 01/15/20230.2%
General Motors Financial Co., Inc.4.200% 03/01/20210.2%
ACC Trust 2018-13.700% 12/21/20200.2%
WFRBS Commercial Mortgage Trust4.869% 02/15/20440.2%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.2%
Duqesne Light Holdings, Inc.6.400% 09/15/20200.2%
Martin Marietta Materials, Inc.3.327% 05/22/20200.2%
General Electric Co.5.300% 02/11/20210.2%
Flagship Credit Auto Trust 2018-33.590% 12/16/20240.2%
Santander Drive Auto Receivables Trust 2018-43.560% 07/15/20240.2%
General Electric Co.3.236% 04/15/20200.2%
J.P. Morgan Chase Commercial Mortgage Securities T3.743% 07/15/20340.2%
J.P. Morgan Chase Commercial Mortgage Securities T4.624% 10/15/20320.2%
U.S. Treasury Note/Bond2.875% 10/31/20200.2%
Jefferies Group LLC6.875% 04/15/20210.2%
Exeter Automobile Receivables Trust 2017-32.810% 09/15/20220.2%
ReadyCap Commercial Mortgage Trust 2018-43.390% 02/27/20510.2%
Broadcom Corp. / Broadcom Cayman Finance Ltd.2.650% 01/15/20230.2%
Drive Auto Receivables Trust4.530% 08/15/20230.2%
HSBC USA, Inc.9.300% 06/01/20210.2%
Chesapeake Funding II LLC2.110% 03/15/20280.2%
ITC Holdings Corp.5.500% 01/15/20200.2%
International Lease Finance Corp.5.875% 04/01/20190.2%
Puget Energy, Inc.5.625% 07/15/20220.2%
Great Wolf Trust 2017-WOLF4.734% 09/15/20340.2%
BX Trust 2017-SLCT3.884% 07/15/20340.2%
JP Morgan Chase Commercial Mortgage Securities Cor4.128% 07/05/20310.2%
PPL WEM Ltd./Western Power Distribution Ltd.5.375% 05/01/20210.2%
World Financial Network Credit Card Master Trust2.150% 04/17/20230.2%
Hilton Orlando Trust 2018-ORL3.254% 12/15/20340.2%
JP Morgan Chase Commercial Mortgage Securities Tru3.484% 06/15/20320.2%
HMH Trust 2017-NSS3.787% 07/05/20310.2%
Glencore Funding LLC3.125% 04/29/20190.2%
Life Technologies Corp.5.000% 01/15/20210.2%
Wells Fargo Commercial Mortgage Trust 2018-C484.224% 01/15/20520.1%
Liberty Property L.P.4.750% 10/01/20200.1%
WFRBS Commercial Mortgage Trust4.757% 06/15/20450.1%
Florida Gas Transmission Co., LLC7.900% 05/15/20190.1%
UBS-Barclays Commercial Mortgage Trust3.525% 05/10/20630.1%
Enbridge Energy Partners L.P.4.200% 09/15/20210.1%
Morgan Stanley Capital I Trust3.773% 03/15/20450.1%
Goldcorp, Inc.3.625% 06/09/20210.1%
WFRBS Commercial Mortgage Trust 2013-C183.896% 12/15/20460.1%
Hyundai Capital America3.450% 03/12/20210.1%
WFRBS Commercial Mortgage Trust 2012-C92.870% 11/15/20450.1%
Diamond Resorts Owner Trust3.080% 11/20/20280.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.009% 10/05/20310.1%
J.P. Morgan Chase Commercial Mortgage Securities T3.554% 10/05/20310.1%
BX Trust 2018-GW3.284% 05/15/20350.1%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.1%
Wells Fargo Commercial Mortgage Trust 2014-LC163.548% 08/15/20500.1%
Leucadia National Corp.5.500% 10/18/20230.1%
Spectra Energy Partners L.P.4.600% 06/15/20210.1%
Woodside Finance Ltd.4.600% 05/10/20210.1%
UBS-Barclays Commercial Mortgage Trust3.185% 03/10/20460.1%
Dominion Resources, Inc.2.962% 07/01/20190.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.443% 07/15/20340.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.248% 07/05/20330.1%
FREMF Mortgage Trust3.155% 04/25/20460.1%
Government National Mortgage Association2.700% 08/16/20580.1%
Motel 6 Trust 2017-MTL64.634% 08/15/20340.1%
Compass Bank5.500% 04/01/20200.1%
General Electric Co.2.700% 10/09/20220.1%
Stonemont Portfolio Trust 2017-STONE4.538% 08/20/20300.1%
Puget Energy, Inc.6.000% 09/01/20210.1%
Drive Auto Receivables Trust3.010% 11/15/20210.1%
NV Energy, Inc.6.250% 11/15/20200.1%
Drive Auto Receivables Trust3.720% 09/16/20240.1%
MSCG Trust3.348% 11/15/20340.1%
EnCana Corp.6.500% 05/15/20190.1%
Canadian Pacific Railway Co.9.450% 08/01/20210.1%
FREMF Mortgage Trust3.359% 05/25/20450.1%
Ausgrid Finance Pty Ltd3.850% 05/01/20230.1%
Royal Caribbean Cruises Ltd.5.250% 11/15/20220.1%
Orange Lake Timeshare Trust 2015-A2.880% 09/08/20270.1%
Government National Mortgage Association3.000% 01/16/20480.1%
World Financial Network Credit Card Master Trust1.980% 06/15/20230.1%
Continental Resources, Inc.4.500% 04/15/20230.1%
Drive Auto Receivables Trust2.610% 08/16/20210.1%
CarMax Auto Owner Trust1.400% 08/15/20210.1%
Healthcare Realty Trust, Inc.3.750% 04/15/20230.1%
Colonial Pipeline Co.3.500% 10/15/20200.1%
West Town Mall Trust 2017-KNOX4.346% 07/05/20300.1%
Senior Housing Properties Trust3.250% 05/01/20190.1%
Cox Communications, Inc.3.150% 08/15/20240.1%
West Town Mall Trust 2017-KNOX4.346% 07/05/20300.1%
San Diego Gas & Electric Co1.914% 02/01/20220.1%
Caesars Palace Las Vegas Trust 2017-VICI0.393% 10/15/20340.1%
Government National Mortgage Association2.750% 02/16/20580.1%
JP Morgan Chase Commercial Mortgage Securities Tru4.584% 06/15/20320.1%
Government National Mortgage Association2.700% 04/16/20570.1%
SCANA Corp.6.250% 04/01/20200.1%
SCANA Corp.4.750% 05/15/20210.1%
LSTAR Commercial Mortgage Trust2.729% 04/20/20480.1%
QUALCOMM, Inc.3.194% 05/20/20200.1%
BX Trust 2017-APPL4.534% 07/15/20340.1%
BX Trust 2017-SLCT4.534% 07/15/20340.1%
Discover Financial Services10.250% 07/15/20190.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr4.484% 11/15/20350.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr4.184% 11/15/20350.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.834% 11/15/20350.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.504% 11/15/20350.1%
Dr. Pepper Snapple Group, Inc.4.057% 05/25/20230.1%
Midwest Connector Capital Co LLC3.625% 04/01/20220.1%
Goldman Sachs Group, Inc.2.876% 10/31/20220.1%
Jersey Central Power & Light Co.4.700% 04/01/20240.1%
JPMBB Commercial Mortgage Securities Trust 2013-C14.133% 08/15/20460.1%
Texas Eastern Transmission L.P.4.125% 12/01/20200.1%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.1%
Citigroup Commercial Mortgage Trust2.944% 02/10/20480.1%
Chase Issuance Trust2.770% 03/15/20230.1%
Wells Fargo Commercial Mortgage Trust 2015-C262.991% 02/15/20480.1%
JP Morgan Chase Commercial Mortgage Securities Tru4.084% 06/15/20320.1%
Vulcan Materials Co.3.276% 03/01/20210.1%
WFRBS Commercial Mortgage Trust 2012-C102.875% 12/15/20450.1%
J.P. Morgan Chase Commercial Mortgage Securities T3.432% 07/05/20330.1%
Vulcan Materials Co.3.388% 06/15/20200.1%
First Investors Auto Owner Trust2.720% 04/17/20230.1%
First Investors Auto Owner Trust2.410% 12/15/20220.1%
Flagship Credit Auto Trust 2017-32.590% 07/15/20220.1%
JP Morgan Chase Commercial Mortgage Securities Tru3.784% 06/15/20320.1%
SLIDE 2018-FUN4.034% 06/15/20310.1%
SLIDE 2018-FUN3.384% 06/15/20310.1%
SLIDE 2018-FUN3.734% 06/15/20310.1%
Southern Copper Corp.5.375% 04/16/20200.1%
Nexen, Inc.6.200% 07/30/20190.1%
UBS-Citigroup Commercial Mortgage Trust3.595% 01/10/20450.1%
Motel 6 Trust 2017-MTL63.884% 08/15/20340.1%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The3.334% 01/15/20330.0%
Morgan Stanley4.875% 11/01/20220.0%
American Credit Acceptance Receivables Trust 2015-4.840% 10/12/20210.0%
Office Properties Income Trust3.750% 08/15/20190.0%
Santander Drive Auto Receivables Trust 2017-22.790% 08/15/20220.0%
Associated Bank NA/Green Bay WI3.500% 08/13/20210.0%
Drive Auto Receivables Trust3.340% 09/15/20220.0%
Bank of America Corp.2.328% 10/01/20210.0%
General Electric Co.3.100% 01/09/20230.0%
General Electric Co.3.150% 09/07/20220.0%
AT&T, Inc.3.956% 06/12/20240.0%
Illinois, IL4.950% 06/01/20230.0%
Holcim US Finance Sarl & Cie SCS6.000% 12/30/20190.0%
Roper Industries, Inc.3.650% 09/15/20230.0%
Dr. Pepper Snapple Group, Inc.3.200% 11/15/20210.0%
Government National Mortgage Association2.750% 02/16/20580.0%
Government National Mortgage Association2.750% 02/16/20580.0%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.0%
Aircastle Ltd.5.500% 02/15/20220.0%
Sunoco Logistics Partners L.P.4.400% 04/01/20210.0%
Johnson Controls International plc5.000% 03/30/20200.0%
Dominion Resources, Inc.4.104% 04/01/20210.0%
W.R. Berkley Corp.5.375% 09/15/20200.0%
Trimble Navigation Ltd.4.150% 06/15/20230.0%
E*TRADE Financial Corp.2.950% 08/24/20220.0%
Sempra Energy2.936% 01/15/20210.0%
Government National Mortgage Association2.600% 07/16/20580.0%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.0%
Aircastle Ltd.7.625% 04/15/20200.0%
Celanese US Holdings LLC5.875% 06/15/20210.0%
Aircastle Ltd.5.000% 04/01/20230.0%
Pioneer Natural Resources Co.7.500% 01/15/20200.0%
PNM Resources, Inc.3.250% 03/09/20210.0%
Bayer US Finance II LLC2.750% 07/15/20210.0%
Santander Drive Auto Receivables Trust 2017-22.210% 10/15/20210.0%
American Credit Acceptance Receivables Trust 2018-2.720% 03/10/20210.0%
RPI Finance Trust3.869% 05/04/20220.0%
Express Scripts Holding Co.4.750% 11/15/20210.0%
CNH Capital LLC4.375% 04/05/20220.0%
General Motors Financial Co., Inc.5.100% 01/17/20240.0%
Glencore Funding LLC4.125% 05/30/20230.0%
Equifax, Inc.3.600% 08/15/20210.0%
General Electric Co.3.450% 05/15/20240.0%
First Investors Auto Owner Trust2.000% 03/15/20220.0%
CNH Capital LLC4.875% 04/01/20210.0%
Willis Group Holdings5.750% 03/15/20210.0%
Alexandria Real Estate Equities, Inc.4.000% 01/15/20240.0%
Aircastle Ltd.5.125% 03/15/20210.0%
TransAlta Corp.4.500% 11/15/20220.0%
Glencore Funding LLC2.875% 04/16/20200.0%
Phillips 663.289% 02/26/20210.0%
General Electric Co.3.375% 03/11/20240.0%
Ascentium Equipment Receivables 2017-1 Trust2.290% 06/10/20210.0%
Commercial Mortgage Backed Index Swap2.000% 05/11/20630.0%
Commercial Mortgage Backed Index Swap1.500% 05/11/20630.0%
Commercial Mortgage Backed Index Swap1.500% 05/11/20630.0%
Williams Cos., Inc.7.875% 09/01/20210.0%
SCANA Corp.4.125% 02/01/20220.0%
AmeriCredit Automobile Receivables Trust 2017-31.690% 12/18/20200.0%
Commercial Mortgage Backed Index Swap2.000% 05/11/20630.0%
Commercial Mortgage Backed Index Swap1.500% 05/11/20630.0%
FX USD/CAD 06/190.000% 06/19/20190.0%
US 2YR NOTE (CBT) JUN190.000% 07/03/20190.0%
CAN 5YR FUT JUN190.000% 06/28/20190.0%
US 5YR NOTE (CBT) JUN190.000% 07/03/20190.0%

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For
YTD Dividends Paidas of 05/17/2019
$0.076
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2019 $0.02069 $9.83
Daily Daily 03/31/2019 $0.01915 $9.82
Daily Daily 02/28/2019 $0.01850 $9.78
Daily Daily 01/31/2019 $0.01776 $9.78

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 05/31/2019
Daily Daily 06/30/2019
Daily Daily 07/31/2019
Daily Daily 08/31/2019
Daily Daily 09/30/2019
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 04/30/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
3.90% 1.39%

Expense ratio details, Click here.

Fund Documents

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.      

                    

1

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.

 

2

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.

 

3

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.

 

4

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.

 

Select funds to run a Morningstar Hypothetical Report.

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