Short Duration Core Bond Fund

LDCAX

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Daily price w/o sales charge as of 01/17/2020

$9.90

$0.00

YTD Returns w/o sales charge as of 01/17/2020

0.20%

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 01/17/2020

	Subsidized	Un-Subsidized
w/o sales charge	3.38%	0.87%
w/ sales charge	3.30%	0.85%

30-Day Standardized Yield as of 12/31/2019

	Subsidized	Un-Subsidized
w/o sales charge	1.94%	1.28%

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

Expense Ratioas of 12/31/2019

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 03/31/2020. 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 Basicsas of 12/31/2019

Total Net Assets: $51.31 M
Inception Date: 04/20/2017
Dividend Frequency: Monthly (Daily Accrual)
Number of Holdings: 409
Minimum Initial Investment: $1,500+

Type	Assets
ABS
Investment Grade Corporate
U.S. Government Related
CMBS
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 12/31/2019 View Portfolio

Rating	Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

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

26 Years of Industry Experience

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

22 Years of Industry Experience

Supported By 66 Investment Professionals with 17 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 01/17/2020

	Subsidized³	Un-Subsidized⁴
w/o sales charge	3.38%	0.87%
w/ sales charge	3.30%	0.85%

30-Day Standardized Yield ² as of 12/31/2019

	Subsidized	Un-Subsidized
w/o sales charge	1.94%	1.28%

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

Fund Expense Ratio :

Gross 3.11%

Net 0.60%

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

w/o sales charge	4.66%	4.66%	-	-	-	2.54%
Lipper Category Avg. Short Investment Grade Debt Funds	4.46%	4.46%	-	-	-	-
Bloomberg Barclays 1-3 Year US Government/Credit Bond Index	4.03%	4.03%	-	-	-	2.14%
w/ sales charge	2.31%	2.31%	-	-	-	1.68%

Fund Expense Ratio :

Gross 3.11%

Net 0.60%

Fund Expense Ratio :

Gross 3.11%

Net 0.60%

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

w/o sales charge	4.66%	4.66%	-	-	-	2.54%
Lipper Category Avg. Short Investment Grade Debt Funds	4.46%	4.46%	-	-	-	-
Bloomberg Barclays 1-3 Year US Government/Credit Bond Index	4.03%	4.03%	-	-	-	2.14%
w/ sales charge	2.31%	2.31%	-	-	-	1.68%

Fund Expense Ratio :

Gross 3.11%

Net 0.60%

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.

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

2019	4.66%	4.03%
2018	1.50%	1.60%
2017	0.72%	0.84%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2020	-	-	-	-	0.23%
2019	1.68%	1.43%	0.82%	0.67%	4.66%
2018	-0.12%	0.37%	0.52%	0.72%	1.50%
2017	-	-	0.41%	0.05%	0.72%

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
U.S. Government Related
CMBS
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 12/31/2019

Rating	Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Portfolio Positioning as of 12/31/2019

As a result of softer economic data and spread tightening, we reduced the portfolio’s allocation to investment grade corporate bonds in an attempt to reinvest in sectors that have not seen quite as significant spread compression. Additionally, within investment grade corporate bonds, we primarily reduced the portfolio’s overweight to European financials companies that could potentially be impacted by the Brexit trade.
The portfolio’s commercial mortgage-backed securities (“CMBS”) allocation also came down during the period as a large CMBS deal was repaid. We continue to remain attracted to this domestic asset class, and we believe it offers opportunities for further spread compression. We currently favor single-asset, single-borrower deals at this time, preferring their compelling asset quality, geographic locations, and stronger borrower profiles relative to conduit deals.
Given the continued tightening in corporate credit, we increased the portfolio’s allocation to asset-backed securities (“ABS”), as we believed ABS offered strong relative value opportunities and had not participated in the risk compression seen within investment grade credit. We also increased the portfolio’s allocation to Treasury Inflation-Protected Securities (“TIPS”) in response to the strong labor market and the expectation that inflation may pick up in the next several months.

Portfolio Details as of 12/31/2019

Total Net Assets: $51.31 M
Number of Issues: 409
Average Coupon: 3.1%
Average Life: 2.17 Years
Average Effective Duration: 1.58 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	1.625%	12/31/2021	16.9%
U.S. Treasury Note	0.625%	04/15/2023	4.3%
UBS AG	7.625%	08/17/2022	1.1%
Sabine Pass Liquefaction LLC	5.625%	04/15/2023	1.0%
Bank of America Corp.	3.004%	12/20/2023	1.0%
Morgan Stanley Capital I Trust	3.201%	08/05/2034	1.0%
Avid Automobile Receivables Trust 2019-1	2.820%	07/15/2026	1.0%
World Omni Auto Receivables Trust 2018-D	3.440%	12/16/2024	1.0%
Goldman Sachs Group, Inc.	2.908%	06/05/2023	0.8%
VMC Finance 2019-FL3 LLC	2.837%	09/15/2036	0.8%

% of Total Assets			28.9%

Holding	Coupon	Maturity	Assets

U.S. Treasury Note/Bond	1.500%	11/30/2021	13.3%
U.S. Treasury Note/Bond	2.500%	01/31/2021	1.9%
U.S. Treasury Note	0.625%	04/15/2023	1.8%
Bank of America Corp.	3.004%	12/20/2023	1.2%
Avid Automobile Receivables Trust 2019-1	2.820%	07/15/2026	1.1%
Goldman Sachs Group, Inc.	2.908%	06/05/2023	1.0%
VMC Finance 2019-FL3 LLC	2.863%	09/15/2036	0.9%
GS Mortgage Securities Corp Trust 2019-SMP	2.915%	08/15/2032	0.9%
Sabine Pass Liquefaction LLC	5.625%	04/15/2023	0.9%
Bancorp Commercial Mortgage 2019-CRE6 Trust	2.971%	09/15/2036	0.8%
Atrium Hotel Portfolio Trust 2017-ATRM	2.695%	12/15/2036	0.8%
BDS 2018-FL2	2.713%	08/15/2035	0.8%
VNO Mortgage Trust	3.448%	11/15/2030	0.7%
BB-UBS Trust	3.430%	11/05/2036	0.7%
Santander Drive Auto Receivables Trust 2018-1	3.320%	03/15/2024	0.7%
CHT 2017-COSMO Mortgage Trust	3.265%	11/15/2036	0.7%
Santander Drive Auto Receivables Trust 2018-4	3.560%	07/15/2024	0.6%
UBS AG	7.625%	08/17/2022	0.6%
Discover Card Execution Note Trust	1.890%	10/15/2024	0.6%
Broadcom Inc	3.625%	10/15/2024	0.6%
AmeriCredit Automobile Receivables 2016-1	3.590%	02/08/2022	0.6%
Avolon Holdings Funding Ltd	5.125%	10/01/2023	0.6%
Drive Auto Receivables Trust 2018-2	4.140%	08/15/2024	0.6%
Dell International LLC / EMC Corp.	5.450%	06/15/2023	0.6%
Westlake Automobile Receivables Trust 2018-3	3.320%	10/16/2023	0.6%
Exeter Automobile Receivables Trust 2017-3	3.680%	07/17/2023	0.6%
CPS Auto Receivables Trust 2019-D	2.350%	11/15/2023	0.6%
CPS Auto Receivables Trust 2019-D	2.540%	08/15/2024	0.6%
Exeter Automobile Receivables Trust 2019-4	2.300%	12/15/2023	0.6%
Americredit Automobile Receivables Trust 2018-1	3.500%	01/18/2024	0.6%
CPS Auto Trust	4.610%	12/15/2022	0.6%
AmeriCredit Automobile Receivables Trust 2017-3	2.240%	06/19/2023	0.6%
Fifth Third Auto Trust 2019-1	2.660%	05/16/2022	0.6%
Santander Drive Auto Receivables Trust 2017-1	3.170%	04/17/2023	0.6%
Citibank, Inc.	2.736%	05/20/2022	0.6%
LCM XXII Ltd.	3.126%	10/20/2028	0.6%
Benefit Street Partners CLO IV Ltd	3.216%	01/20/2029	0.6%
Ammc Clo 19 Ltd.	3.141%	10/16/2028	0.6%
Elm CLO 2014-1 Ltd	3.172%	01/17/2029	0.6%
Parallel 2017-1 Ltd	3.276%	07/20/2029	0.6%
Jamestown CLO IX Ltd	3.816%	10/20/2028	0.6%
AT&T, Inc.	3.616%	06/12/2024	0.6%
Benefit Street Partners CLO XI	3.751%	04/15/2029	0.6%
Aircastle Ltd.	4.400%	09/25/2023	0.6%
BAT Capital Corp	3.222%	08/15/2024	0.5%
J.P. Morgan Chase Commercial Mortgage Securities T	3.554%	10/05/2031	0.5%
CSMC Trust 2017-LSTK	2.761%	04/05/2033	0.5%
Leucadia National Corp.	5.500%	10/18/2023	0.5%
PTL Finance Corp.	3.900%	02/01/2024	0.5%
BAMLL Commercial Mortgage Securities Trust 2013-WB	3.652%	03/10/2037	0.5%
Drive Auto Receivables Trust	4.090%	01/15/2026	0.5%
VEREIT Operating Partnership L.P.	4.600%	02/06/2024	0.5%
Japan Bank for International Cooperation/Japan	2.500%	05/23/2024	0.5%
JP Morgan Chase Commercial Mortgage Securities Tru	3.387%	09/05/2032	0.5%
Energy Transfer Operating LP	5.875%	01/15/2024	0.5%
Equinix, Inc.	5.875%	01/15/2026	0.5%
COMM 2016-GCT Mortgage Trust	3.086%	08/10/2029	0.5%
Morgan Stanley	2.720%	07/22/2025	0.5%
JPMorgan Chase & Co.	3.875%	09/10/2024	0.5%
Danske Bank A/S	5.000%	01/12/2022	0.5%
Bayer US Finance II LLC	3.875%	12/15/2023	0.5%
Ford Motor Credit Co. LLC	5.875%	08/02/2021	0.5%
Westlake Automobile Receivables Trust 2019-3	2.150%	02/15/2023	0.5%
Lloyds Bank plc	6.500%	09/14/2020	0.5%
Anglo American Capital plc	3.750%	04/10/2022	0.5%
AerCap Ireland Capital Ltd.	3.500%	05/26/2022	0.5%
CPS Auto Receivables Trust 2017-C	3.790%	06/15/2023	0.5%
Caesars Palace Las Vegas Trust 2017-VICI	3.531%	10/15/2034	0.5%
Westlake Automobile Receivables Trust 2019-1	3.450%	03/15/2024	0.5%
Saudi Arabian Oil Co	2.750%	04/16/2022	0.5%
Danske Bank A/S	2.750%	09/17/2020	0.5%
Cox Communications, Inc.	2.950%	06/30/2023	0.4%
BX Commercial Mortgage Trust 2019-XL	2.685%	10/15/2036	0.4%
Chesapeake Funding II LLC	1.990%	05/15/2029	0.4%
Ford Credit Floorplan Master Owner Trust A	1.980%	01/15/2022	0.4%
GS Mortgage Securities Corp Trust 2019-SMP	3.265%	08/15/2032	0.4%
Textainer Marine Containers VII Ltd	4.110%	07/20/2043	0.4%
General Motors Financial Co., Inc.	5.100%	01/17/2024	0.4%
Capital One Multi-Asset Execution Trust	2.000%	01/17/2023	0.4%
Schlumberger Holdings Corp.	3.750%	05/01/2024	0.4%
Continental Resources, Inc.	5.000%	09/15/2022	0.4%
CNH Industrial NV	4.500%	08/15/2023	0.4%
Las Vegas Sands Corp.	3.200%	08/08/2024	0.3%
Santander Drive Auto Receivables Trust 2017-2	3.490%	07/17/2023	0.3%
Morgan Stanley	3.208%	07/22/2022	0.3%
WFRBS Commercial Mortgage Trust	3.995%	05/15/2047	0.3%
GS Mortgage Securities Corp Trust 2019-70P	0.506%	10/15/2036	0.3%
SoFi Professional Loan Program 2017-E LLC	1.860%	11/26/2040	0.3%
Puget Energy, Inc.	6.500%	12/15/2020	0.3%
Glencore Funding LLC	4.625%	04/29/2024	0.3%
JP Morgan Chase Commercial Mortgage Securities Cor	4.128%	07/05/2031	0.3%
Citigroup Commercial Mortgage Trust	3.024%	09/10/2045	0.3%
Chrysler Capital Auto Receivables Trust 2016-B	3.510%	09/15/2023	0.3%
COMM Mortgage Trust	3.612%	06/10/2046	0.3%
Capital One Prime Auto Receivables Trust 2019-1	2.580%	04/15/2022	0.3%
Royal Caribbean Cruises Ltd.	5.250%	11/15/2022	0.3%
Wells Fargo Commercial Mortgage Trust 2017-RC1	3.118%	01/15/2060	0.3%
Fairstone Financial Issuance Trust I	5.084%	03/21/2033	0.3%
COMM Mortgage Trust	3.819%	06/10/2047	0.3%
Drive Auto Receivables Trust 2017-1	3.840%	03/15/2023	0.2%
Massachusetts Educational Financing Authority	2.890%	04/25/2038	0.2%
Drive Auto Receivables Trust 2019-4	2.700%	02/16/2027	0.2%
Carvana Auto Receivables Trust 2019-3	2.420%	04/15/2022	0.2%
JPMBB Commercial Mortgage Securities Trust 2014-C2	3.801%	09/15/2047	0.2%
COMM 2014-277P Mortgage Trust	3.732%	08/10/2049	0.2%
Carmax Auto Owner Trust 2019-4	2.600%	09/15/2025	0.2%
Ford Motor Credit Co. LLC	0.000%	12/04/2019	0.2%
First Investors Auto Owner Trust 2019-2	2.210%	09/16/2024	0.2%
Foursight Capital Automobile Receivables Trust 201	5.560%	01/16/2024	0.2%
Westlake Automobile Receivables Trust 2019-3	2.490%	10/15/2024	0.2%
First Investors Auto Owner Trust 2019-2	2.710%	12/15/2025	0.2%
Westlake Automobile Receivables Trust 2019-3	2.410%	10/15/2024	0.2%
Carmax Auto Owner Trust 2019-4	2.320%	07/15/2025	0.2%
Mountain Hawk III CLO Ltd.	3.203%	04/18/2025	0.2%
NBCUniversal Enterprise, Inc.	5.250%	06/19/2099	0.2%
Continental Credit Card 2016-1	11.330%	01/15/2025	0.2%
OneMain Financial Issuance Trust 2019-1	3.790%	02/14/2031	0.2%
SCF Equipment Leasing 2019-1 LLC	3.920%	11/20/2026	0.2%
UBS-BAMLL Trust	3.663%	06/10/2030	0.2%
Morgan Stanley Capital I Trust	4.661%	06/15/2044	0.2%
CPS Auto Receivables Trust 2019-A	3.890%	12/16/2024	0.2%
COMM 2013-CCRE9 Mortgage Trust	4.373%	07/10/2045	0.2%
Hudsons Bay Simon JV Trust	3.914%	08/05/2034	0.2%
GS Mortgage Securities Corp. II	3.007%	12/10/2030	0.2%
CPS Auto Receivables Trust 2016-C	5.920%	06/15/2022	0.2%
Foursight Capital Automobile Receivables Trust 201	3.680%	08/15/2023	0.2%
Morgan Stanley Bank of America Merrill Lynch Trust	3.277%	10/15/2030	0.2%
Master Credit Card Trust	3.570%	07/21/2022	0.2%
Foursight Capital Automobile Receivables Trust 201	3.530%	04/17/2023	0.2%
PFS Financing Corp.	2.890%	02/15/2023	0.2%
Amur Equipment Finance Receivables VII LLC	3.090%	03/20/2025	0.2%
Perimeter Master Note Business Trust	4.310%	12/15/2022	0.2%
BX Commercial Mortgage Trust 2019-XL	3.765%	10/15/2036	0.2%
Apex Credit CLO 2016 Ltd	3.236%	10/27/2028	0.2%
BX Commercial Mortgage Trust 2019-XL	3.565%	10/15/2036	0.2%
BX Commercial Mortgage Trust 2019-XL	2.845%	10/15/2036	0.2%
BX Commercial Mortgage Trust 2019-XL	3.215%	10/15/2036	0.2%
GS Mortgage Securities Corp Trust 2019-BOCA	2.965%	06/15/2038	0.2%
GS Mortgage Securities Corp Trust 2019-BOCA	3.265%	06/15/2038	0.2%
BX Commercial Mortgage Trust 2019-XL	3.015%	10/15/2036	0.2%
SCF Equipment Leasing 2019-2 LLC	2.760%	08/20/2026	0.2%
SCF Equipment Leasing 2019-2 LLC	3.110%	06/21/2027	0.2%
Synchrony Credit Card Master Note Trust	2.640%	03/15/2023	0.2%
Avid Automobile Receivables Trust 2019-1	2.620%	02/15/2024	0.2%
Mercedes-Benz Master Owner Trust 2018-BA	2.105%	05/15/2023	0.2%
Phillips 66	2.732%	02/26/2021	0.2%
Caesars Palace Las Vegas Trust 2017-VICI	4.499%	10/15/2034	0.2%
Foursight Capital Automobile Receivables Trust 201	3.240%	09/15/2022	0.2%
Morgan Stanley Capital Barclays Bank Trust 2016-MA	2.200%	09/13/2031	0.2%
WFRBS Commercial Mortgage Trust 2014-C19	4.101%	03/15/2047	0.2%
SCF Equipment Leasing 2019-2 LLC	2.220%	06/20/2024	0.2%
Barclays Bank plc	10.179%	06/12/2021	0.2%
General Motors Financial Co., Inc.	3.150%	06/30/2022	0.2%
First Investors Auto Owner Trust 2018-2	3.230%	12/15/2022	0.2%
Hyundai Capital America	3.256%	03/12/2021	0.2%
Arivo Acceptance Auto Loan Receivables Trust 2019-	2.990%	07/15/2024	0.2%
UBS-Barclays Commercial Mortgage Trust	3.244%	04/10/2046	0.2%
CFCRE Commercial Mortgage Trust 2018-TAN	4.236%	02/15/2033	0.2%
HCA, Inc.	5.000%	03/15/2024	0.2%
CarMax Auto Owner Trust	2.880%	10/15/2021	0.2%
COMM 2014-LC15 Mortgage Trust	4.006%	04/10/2047	0.2%
Bank of The West Auto Trust 2017-1	2.110%	01/15/2023	0.2%
MPLX L.P.	5.250%	01/15/2025	0.2%
Caesars Palace Las Vegas Trust 2017-VICI	3.835%	10/15/2034	0.2%
JPMBB Commercial Mortgage Securities Trust	3.494%	01/15/2048	0.2%
Lincoln National Corp.	4.200%	03/15/2022	0.2%
GS Mortgage Securities Corp Trust 2019-SMP	0.587%	08/15/2032	0.2%
Entergy Corp.	5.125%	09/15/2020	0.2%
Puget Energy, Inc.	5.625%	07/15/2022	0.2%
Goldman Sachs Group, Inc.	3.377%	04/26/2022	0.2%
Smithfield Foods, Inc.	2.650%	10/03/2021	0.2%
Nissan Motor Acceptance Corp.	2.550%	03/08/2021	0.2%
Ford Motor Credit Co. LLC	3.065%	09/24/2020	0.2%
Drive Auto Receivables Trust 2019-4	2.840%	11/17/2025	0.2%
TAL Advantage VI LLC	4.500%	04/20/2042	0.2%
Chesapeake Funding II LLC	2.135%	08/15/2030	0.2%
Flagship Credit Auto Trust 2019-1	3.390%	01/16/2024	0.2%
Capital One Multi-Asset Execution Trust	2.275%	09/16/2024	0.2%
American Express Credit Account Master Trust	2.215%	09/16/2024	0.2%
Dollar Tree, Inc.	3.003%	04/17/2020	0.2%
Zoetis, Inc.	2.576%	08/20/2021	0.2%
Flagship Credit Auto Trust	3.840%	09/15/2022	0.2%
International Lease Finance Corp.	8.250%	12/15/2020	0.1%
SOFI PROFESSIONAL LOAN PROGRAM 2017-F LLC	2.050%	01/25/2041	0.1%
MPLX L.P.	3.202%	09/09/2022	0.1%
J.P. Morgan Chase Commercial Mortgage Securities T	2.798%	10/05/2031	0.1%
Occidental Petroleum Corp.	2.900%	08/15/2024	0.1%
Santander Drive Auto Receivables Trust 2016-1	4.020%	04/15/2022	0.1%
Towd Point Asset Trust 2018-SL1	2.308%	01/25/2046	0.1%
AstraZeneca plc	3.073%	06/10/2022	0.1%
Ausgrid Finance Pty Ltd	3.850%	05/01/2023	0.1%
SCF Equipment Leasing 2018-1 LLC	3.630%	10/20/2024	0.1%
Newell Rubbermaid, Inc.	3.850%	04/01/2023	0.1%
BBCMS Trust	3.323%	09/10/2028	0.1%
Diamond Resorts Owner Trust 2018-1	4.190%	01/21/2031	0.1%
General Electric Co.	3.450%	05/15/2024	0.1%
MPLX L.P.	6.250%	10/15/2022	0.1%
TCF Auto Receivables Owner Trust 2016-PT1	4.200%	04/15/2024	0.1%
Caesars Palace Las Vegas Trust 2017-VICI	4.138%	10/15/2034	0.1%
TCF Auto Receivables Owner Trust 2016-1	3.500%	07/17/2023	0.1%
Healthcare Trust of America Holdings LP	3.700%	04/15/2023	0.1%
MPLX L.P.	3.500%	12/01/2022	0.1%
UBS-Barclays Commercial Mortgage Trust	2.850%	12/10/2045	0.1%
Texas Eastern Transmission L.P.	2.800%	10/15/2022	0.1%
RETL 2019-RVP	3.865%	03/15/2036	0.1%
Motiva Enterprises LLC	5.750%	01/15/2020	0.1%
California Republic Auto Receivables Trust	2.700%	09/15/2021	0.1%
Ford Credit Auto Owner Trust	2.190%	07/15/2022	0.1%
Glencore Funding LLC	4.125%	05/30/2023	0.1%
JP Morgan Chase Commercial Mortgage Securities Cor	4.767%	07/05/2031	0.1%
Park Aerospace Holdings Ltd	4.500%	03/15/2023	0.1%
World Financial Network Credit Card Master Trust	2.660%	08/15/2024	0.1%
Energy Transfer Partners LP / Regency Energy Finan	5.000%	10/01/2022	0.1%
World Financial Network Credit Card Master Trust	2.030%	04/15/2025	0.1%
General Motors Financial Co., Inc.	3.550%	07/08/2022	0.1%
SCF Equipment Leasing 2017-2 LLC	3.410%	12/20/2023	0.1%
UBS-Barclays Commercial Mortgage Trust	3.525%	05/10/2063	0.1%
Pentair Finance SA	3.150%	09/15/2022	0.1%
Occidental Petroleum Corp.	3.637%	08/15/2022	0.1%
BX Commercial Mortgage Trust 2018-BIOA	2.436%	03/15/2037	0.1%
Cheniere Corpus Christi Holdings LLC	5.875%	03/31/2025	0.1%
GM Financial Consumer Automobile Receivables Trust	3.370%	08/16/2024	0.1%
Hewlett Packard Enterprise Co.	2.807%	03/12/2021	0.1%
Westlake Automobile Receivables Trust 2019-2	3.060%	02/15/2023	0.1%
Sierra Timeshare 2016-1 Receivables Funding LLC	3.080%	03/21/2033	0.1%
MSCG Trust	2.612%	06/07/2035	0.1%
Express Scripts Holding Co.	2.874%	11/30/2020	0.1%
Aircastle Ltd.	5.000%	04/01/2023	0.1%
Morgan Stanley Bank of America Merrill Lynch Trust	4.064%	02/15/2047	0.1%
Macquarie Bank Ltd.	6.625%	04/07/2021	0.1%
Cardinal Health, Inc.	3.180%	06/15/2022	0.1%
UBS-Barclays Commercial Mortgage Trust	3.091%	08/10/2049	0.1%
Westlake Automobile Receivables Trust 2018-3	2.980%	01/18/2022	0.1%
General Motors Financial Co., Inc.	4.200%	03/01/2021	0.1%
Philip Morris International, Inc.	3.250%	11/10/2024	0.1%
Chesapeake Funding II LLC	1.910%	08/15/2029	0.1%
Canadian Pacific Railway Co.	9.450%	08/01/2021	0.1%
AstraZeneca plc	2.789%	08/17/2023	0.1%
Highwoods Realty L.P.	3.625%	01/15/2023	0.1%
Jersey Central Power & Light Co.	4.700%	04/01/2024	0.1%
California Republic Auto Receivables Trust 2017-1	2.910%	12/15/2022	0.1%
Duqesne Light Holdings, Inc.	6.400%	09/15/2020	0.1%
WFRBS Commercial Mortgage Trust	4.869%	02/15/2044	0.1%
Martin Marietta Materials, Inc.	2.800%	05/22/2020	0.1%
Reynolds American, Inc.	4.850%	09/15/2023	0.1%
Flagship Credit Auto Trust 2018-3	3.590%	12/16/2024	0.1%
American Credit Acceptance Receivables Trust 2019-	3.050%	05/12/2023	0.1%
General Electric Co.	3.103%	04/15/2020	0.1%
Cardinal Health, Inc.	3.500%	11/15/2024	0.1%
J.P. Morgan Chase Commercial Mortgage Securities T	3.905%	10/15/2032	0.1%
GM Financial Automobile Leasing Trust 2019-2	2.670%	06/21/2021	0.1%
Toronto-Dominion Bank	2.540%	12/01/2022	0.1%
Exeter Automobile Receivables Trust 2017-3	2.810%	09/15/2022	0.1%
Jefferies Group LLC	6.875%	04/15/2021	0.1%
Morgan Stanley	4.875%	11/01/2022	0.1%
D.R. Horton, Inc.	2.500%	10/15/2024	0.1%
HSBC USA, Inc.	9.300%	06/01/2021	0.1%
Vistra Operations Co LLC	3.550%	07/15/2024	0.1%
Drive Auto Receivables Trust 2019-3	2.630%	09/15/2022	0.1%
Florida Power & Light Co.	2.639%	05/06/2022	0.1%
PTL Finance Corp.	3.450%	07/01/2024	0.1%
Energy Transfer Operating LP	7.600%	02/01/2024	0.1%
GM Financial Consumer Automobile Receivables Trust	2.990%	03/16/2022	0.1%
HMH Trust 2017-NSS	3.787%	07/05/2031	0.1%
Suncor Energy Ventures Corp	9.400%	09/01/2021	0.1%
Hilton Orlando Trust 2018-ORL	2.535%	12/15/2034	0.1%
PPL WEM Ltd./Western Power Distribution Ltd.	5.375%	05/01/2021	0.1%
Goldman Sachs Group, Inc.	5.750%	01/24/2022	0.1%
Wells Fargo Commercial Mortgage Trust 2018-C48	4.224%	01/15/2052	0.1%
Broadcom Inc	3.125%	10/15/2022	0.1%
WFRBS Commercial Mortgage Trust	4.903%	06/15/2045	0.1%
Georgia Power Co.	2.200%	09/15/2024	0.1%
JP Morgan Chase Commercial Mortgage Securities Tru	2.765%	06/15/2032	0.1%
Morgan Stanley Capital I Trust	3.773%	03/15/2045	0.1%
WFRBS Commercial Mortgage Trust 2013-C18	3.896%	12/15/2046	0.1%
ReadyCap Commercial Mortgage Trust 2018-4	3.390%	02/27/2051	0.1%
Hyundai Capital America	3.450%	03/12/2021	0.1%
WGL Holdings, Inc.	2.986%	03/12/2020	0.1%
Hewlett Packard Enterprise Co.	3.009%	10/05/2021	0.1%
Brixmor Operating Partnership L.P.	3.303%	02/01/2022	0.1%
ConAgra Brands, Inc.	3.028%	10/22/2020	0.1%
J.P. Morgan Chase Commercial Mortgage Securities T	4.143%	10/05/2031	0.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.	2.650%	01/15/2023	0.1%
BX Trust 2018-GW	2.565%	05/15/2035	0.1%
TCF Auto Receivables Owner Trust 2016-PT1	2.920%	10/17/2022	0.1%
Wells Fargo Commercial Mortgage Trust 2014-LC16	3.548%	08/15/2050	0.1%
Drive Auto Receivables Trust	4.530%	08/15/2023	0.1%
WFRBS Commercial Mortgage Trust 2012-C9	2.870%	11/15/2045	0.0%
BAT Capital Corp	2.789%	09/06/2024	0.0%
NXP BV / NXP Funding LLC	4.875%	03/01/2024	0.0%
Dominion Resources, Inc.	3.071%	08/15/2024	0.0%
Vulcan Materials Co.	2.559%	03/01/2021	0.0%
OneMain Financial Issuance Trust 2016-1A	3.660%	02/20/2029	0.0%
Kraft Heinz Foods Co.	2.475%	02/10/2021	0.0%
Spectra Energy Partners L.P.	4.600%	06/15/2021	0.0%
UBS-Barclays Commercial Mortgage Trust	3.185%	03/10/2046	0.0%
Government National Mortgage Association	2.700%	08/16/2058	0.0%
Woodside Finance Ltd.	4.600%	05/10/2021	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	4.248%	07/05/2033	0.0%
Sempra Energy	2.803%	01/15/2021	0.0%
FREMF Mortgage Trust	3.259%	04/25/2046	0.0%
Great Wolf Trust 2017-WOLF	3.865%	09/15/2034	0.0%
Shelter Growth CRE 2018-FL1 Issuer Ltd	2.765%	01/15/2035	0.0%
BX Trust 2017-SLCT	3.165%	07/15/2034	0.0%
SL Green Operating Partnership L.P.	3.250%	10/15/2022	0.0%
Conn's Receivables Funding 2018-A LLC	3.250%	01/15/2023	0.0%
International Lease Finance Corp.	8.625%	01/15/2022	0.0%
SMB Private Education Loan Trust 2018-B	2.085%	12/16/2024	0.0%
Diamond Resorts Owner Trust	3.080%	11/20/2028	0.0%
Drive Auto Receivables Trust	3.720%	09/16/2024	0.0%
GM Financial Automobile Leasing Trust 2019-2	2.670%	03/21/2022	0.0%
Concho Resources, Inc.	4.375%	01/15/2025	0.0%
Motel 6 Trust 2017-MTL6	3.915%	08/15/2034	0.0%
Stonemont Portfolio Trust 2017-STONE	3.774%	08/20/2030	0.0%
Vulcan Materials Co.	3.010%	06/15/2020	0.0%
National Oilwell Varco, Inc.	2.600%	12/01/2022	0.0%
Government National Mortgage Association	3.000%	01/16/2048	0.0%
Continental Resources, Inc.	4.500%	04/15/2023	0.0%
Cox Communications, Inc.	3.150%	08/15/2024	0.0%
Healthcare Realty Trust, Inc.	3.750%	04/15/2023	0.0%
West Town Mall Trust 2017-KNOX	4.491%	07/05/2030	0.0%
West Town Mall Trust 2017-KNOX	4.491%	07/05/2030	0.0%
Colonial Pipeline Co.	3.500%	10/15/2020	0.0%
Government National Mortgage Association	2.750%	02/16/2058	0.0%
Government National Mortgage Association	2.700%	04/16/2057	0.0%
Access Point Funding I 2017-1 LLC	3.060%	04/15/2029	0.0%
SCANA Corp.	4.750%	05/15/2021	0.0%
SCANA Corp.	6.250%	04/01/2020	0.0%
Evergy Inc	2.450%	09/15/2024	0.0%
QUALCOMM, Inc.	2.686%	05/20/2020	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	3.865%	06/15/2032	0.0%
BX Trust 2017-APPL	3.815%	07/15/2034	0.0%
BX Trust 2017-SLCT	3.815%	07/15/2034	0.0%
Orange Lake Timeshare Trust 2015-A	2.880%	09/08/2027	0.0%
San Diego Gas & Electric Co	1.914%	02/01/2022	0.0%
Occidental Petroleum Corp.	2.700%	08/15/2022	0.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr	2.934%	11/15/2035	0.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr	3.264%	11/15/2035	0.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr	3.614%	11/15/2035	0.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr	3.914%	11/15/2035	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	3.424%	07/05/2033	0.0%
Caesars Palace Las Vegas Trust 2017-VICI	0.538%	10/15/2034	0.0%
Midwest Connector Capital Co LLC	3.625%	04/01/2022	0.0%
Fifth Third Auto Trust 2019-1	2.690%	11/16/2026	0.0%
Catholic Health Initiatives	2.760%	10/01/2024	0.0%
Becton, Dickinson & Co.	3.194%	12/29/2020	0.0%
JPMBB Commercial Mortgage Securities Trust 2013-C1	4.133%	08/15/2046	0.0%
Wabtec Corp.	4.150%	03/15/2024	0.0%
Texas Eastern Transmission L.P.	4.125%	12/01/2020	0.0%
Illinois, IL	4.950%	06/01/2023	0.0%
Wells Fargo Commercial Mortgage Trust 2015-C26	2.991%	02/15/2048	0.0%
PNM Resources, Inc.	3.250%	03/09/2021	0.0%
Citigroup Commercial Mortgage Trust	2.944%	02/10/2048	0.0%
WFRBS Commercial Mortgage Trust 2012-C10	2.875%	12/15/2045	0.0%
Chase Issuance Trust	2.770%	03/15/2023	0.0%
Equifax, Inc.	3.028%	08/15/2021	0.0%
Flagship Credit Auto Trust 2017-3	2.590%	07/15/2022	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	2.724%	07/05/2033	0.0%
SLIDE 2018-FUN	3.015%	06/15/2031	0.0%
SLIDE 2018-FUN	3.315%	06/15/2031	0.0%
SLIDE 2018-FUN	2.665%	06/15/2031	0.0%
First Investors Auto Owner Trust	2.410%	12/15/2022	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	3.365%	06/15/2032	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	3.065%	06/15/2032	0.0%
UBS-Citigroup Commercial Mortgage Trust	3.595%	01/10/2045	0.0%
Southern Copper Corp.	5.375%	04/16/2020	0.0%
Dominion Resources, Inc.	2.715%	08/15/2021	0.0%
Motel 6 Trust 2017-MTL6	3.165%	08/15/2034	0.0%
FREMF Mortgage Trust	3.281%	05/25/2045	0.0%
Associated Bank NA/Green Bay WI	3.500%	08/13/2021	0.0%
ACC Trust 2018-1	3.700%	12/21/2020	0.0%
CarMax Auto Owner Trust	1.400%	08/15/2021	0.0%
Holcim US Finance Sarl & Cie SCS	6.000%	12/30/2019	0.0%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The	2.615%	01/15/2033	0.0%
Dr. Pepper Snapple Group, Inc.	3.200%	11/15/2021	0.0%
Government National Mortgage Association	2.750%	02/16/2058	0.0%
Government National Mortgage Association	2.750%	02/16/2058	0.0%
Aircastle Ltd.	5.500%	02/15/2022	0.0%
Fresenius Medical Care US Finance II, Inc.	4.750%	10/15/2024	0.0%
Trimble Navigation Ltd.	4.150%	06/15/2023	0.0%
IHS Markit Ltd	3.625%	05/01/2024	0.0%
Santander Drive Auto Receivables Trust 2017-2	2.790%	08/15/2022	0.0%
Sunoco Logistics Partners L.P.	4.400%	04/01/2021	0.0%
Dominion Resources, Inc.	4.104%	04/01/2021	0.0%
Johnson Controls International plc	5.000%	03/30/2020	0.0%
E*TRADE Financial Corp.	2.950%	08/24/2022	0.0%
Government National Mortgage Association	2.600%	07/16/2058	0.0%
Celanese US Holdings LLC	5.875%	06/15/2021	0.0%
Aircastle Ltd.	7.625%	04/15/2020	0.0%
Bayer US Finance II LLC	2.750%	07/15/2021	0.0%
Drive Auto Receivables Trust	3.340%	09/15/2022	0.0%
RPI Finance Trust	3.869%	05/04/2022	0.0%
Commercial Mortgage Backed Index Swap	2.000%	05/11/2063	0.0%
MSCG Trust	3.460%	11/15/2034	0.0%
Commercial Mortgage Backed Index Swap	1.500%	05/11/2063	0.0%
CNH Capital LLC	4.875%	04/01/2021	0.0%
TransAlta Corp.	4.500%	11/15/2022	0.0%
Flagship Credit Auto Trust 2017-4	2.070%	04/15/2022	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%
Williams Cos., Inc.	7.875%	09/01/2021	0.0%
SCANA Corp.	4.125%	02/01/2022	0.0%
General Electric Co.	3.100%	01/09/2023	0.0%
Ascentium Equipment Receivables 2017-1 Trust	2.290%	06/10/2021	0.0%
Commercial Mortgage Backed Index Swap	1.500%	05/11/2063	0.0%
FX USD/CAD 12/19	0.000%	12/13/2019	0.0%
CAN 5YR FUT MAR20	0.000%	03/31/2020	0.0%
US 2YR NOTE (CBT) MAR20	0.000%	04/03/2020	0.0%
US 5YR NOTE (CBT) MAR20	0.000%	04/03/2020	0.0%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 01/17/2020: $0
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	12/31/2019	$0.02786	$9.89
Daily	Daily	11/30/2019	$0.02323	$9.89
Daily	Daily	10/31/2019	$0.02475	$9.91
Daily	Daily	09/30/2019	$0.02155	$9.90
Daily	Daily	08/31/2019	$0.02339	$9.92
Daily	Daily	07/31/2019	$0.02557	$9.88
Daily	Daily	06/30/2019	$0.02690	$9.89
Daily	Daily	05/31/2019	$0.02700	$9.86
Daily	Daily	04/30/2019	$0.02585	$9.83
Daily	Daily	03/31/2019	$0.02480	$9.83
Daily	Daily	02/28/2019	$0.02404	$9.78
Daily	Daily	01/31/2019	$0.02408	$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	01/31/2020
Daily	Daily	02/29/2020
Daily	Daily	03/31/2020
Daily	Daily	04/30/2020
Daily	Daily	05/31/2020
Daily	Daily	06/30/2020
Daily	Daily	07/31/2020
Daily	Daily	08/31/2020
Daily	Daily	09/30/2020
Daily	Daily	10/31/2020
Daily	Daily	11/30/2020
Daily	Daily	12/31/2020

Fees & Expenses

Sales Charge Schedule as of 01/17/2020

	Sales Charge	Dealer's Concession	Prices at Breakpoint
Less than $100,000	2.25%	2.00%	$10.13
$100,000 to $249,999	1.75%	1.50%	$10.08
$250,000 to $499,999	1.25%	1.00%	$10.03
$500,000 to $999,999	0.00%	1.00%	$9.90
$1,000,000 to $5,000,000	0.00%	1.00%	$9.90

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers Click here.

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

Rights of Accumulation - A purchaser may combine the value of Class A, B, C, F, and P shares of any eligible fund currently owned with a new purchase of Class A shares of any eligible fund in order to reduce the sales charge on the new purchase. Class I, R2, and R3 share holdings may not be combined for these purposes.

To the extent that your financial intermediary is able to do so, the value of Class A, B, C, F, and P shares of eligible funds determined for the purpose of reducing the sales charge of a new purchase under the Rights of Accumulation will be calculated at the higher of: 1) the aggregate current maximum offering price of your existing Class A, B, C, F, and P shares of eligible funds or 2) the aggregate amount you invested in such shares (including dividend reinvestments but excluding capital appreciation) less any withdrawals. You should retain any information and account records necessary to substantiate the historical amounts you and any related purchasers have invested in eligible funds. You must inform a fund and/or your financial intermediary at the time of purchase if you believe your purchase qualifies for a reduced sales charge; you may be requested to provide documentation of your holdings in order to verify your eligibility. If you do not do so, you may not receive all sales charge reductions for which you are eligible.
Letter of Intention — In order to reduce your Class A front-end sales charge, a purchaser may combine purchases of Class A, B, C, F, and P shares of any eligible fund the purchaser intends to make over the next 13 months in determining the applicable sales charge. The 13-month Letter of Intention period commences on the day that the Letter of Intention is received by a fund, and the purchaser must tell a fund that later purchases are subject to the Letter of Intention. Purchases submitted prior to the date the Letter of Intention is received by a fund are not counted toward the sales charge reduction. Current holdings under Rights of Accumulation may be included in a Letter of Intention in order to reduce the sales charge for purchases during the 13-month period covered by the Letter of Intention. Shares purchased through reinvestment of dividends or distributions are not included. Class I, R2, and R3 share holdings may not be combined for these purposes. Class A shares valued at 5% of the amount of intended purchases are escrowed and may be redeemed to cover the additional sales charges payable if the intended purchases under the Letter of Intention is not completed. The Letter of Intention is neither a binding obligation on you to buy nor on a fund to sell any or all of an intended purchase amount.

Purchaser — A purchaser includes: 1) an individual; 2) an individual, his or her spouse, and children under the age of 21; 3) retirement and benefit plans, including a 401(k) plan, profit-sharing plan, money purchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, nonprofit organization, school district, or church to which employer contributions are made, as well as SIMPLE IRA plans and SEP-IRA plans; or 4) a trustee or other fiduciary purchasing shares for a single trust, estate, or single fiduciary account. An individual may include under item (1) his or her holdings in eligible funds as described above in IRAs, as a sole participant of a retirement and benefit plan sponsored by the individual's business, and as a participant in a 403(b) plan to which only pretax salary deferrals are made. An individual and his or her spouse may include under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit plans sponsored by a business owned by either or both of them. A retirement and benefit plan under item (3) includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries, and all qualified retirement and benefit plans of multiple employers registered in the name of a single bank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

purchases of $1 million or more (may be subject to a CDSC);
purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

EXPENSE RATIOas of 12/31/2019

Expense ratio details, Click here.

Fund Documents

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

	0Documents selected				Order
	Summary Prospectus Publish Date:11/03/2015
n/a	Statutory Prospectus Publish Date:11/03/2015
n/a	Prospectus (XBRL) Publish Date:11/03/2015
	SAI Publish Date:11/03/2015
	Annual Report Publish Date:11/03/2015
	Semi-Annual Report Publish Date:11/03/2015
	Fact Sheet Publish Date:11/03/2015
	Commentary Publish Date:11/03/2015

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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 will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. 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. 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.

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.

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

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

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and distribution fees.

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1.50% if the shares are repurchased before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and distribution fees.

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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Lord Abbett aspires to be the most respected asset manager in the world. Rooted in the values that have shaped the firm since our founding in 1929, our vision continues to guide our actions and strengthen our culture.

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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 01/17/2020

30-Day Standardized Yield as of 12/31/2019

Expense Ratioas of 12/31/2019

Fund Basicsas of 12/31/2019

CREDIT QUALITY DISTRIBUTION as of 12/31/2019 View Portfolio

INVESTMENT TEAM

Your Representative

Performance

Performance

Dividend Yield 1 as of 01/17/2020

30-Day Standardized Yield 2 as of 12/31/2019

Fund Expense Ratio :

Gross 3.11%

Net 0.60%

Fund Expense Ratio :

Gross 3.11%

Net 0.60%

Fund Expense Ratio :

Gross 3.11%

Net 0.60%

Fund Expense Ratio :

Gross 3.11%

Net 0.60%

NAV Historical Prices

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 12/31/2019

Portfolio Positioning as of 12/31/2019

Portfolio Details as of 12/31/2019

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 01/17/2020

EXPENSE RATIOas of 12/31/2019

Fund Documents

Fund Documents

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Dividend Yield ¹ as of 01/17/2020

30-Day Standardized Yield ² as of 12/31/2019