Short Duration Core Bond Fund

LDCAX

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Daily price w/o sales charge as of 01/21/2021

$9.92

$0.00

YTD Returns w/o sales charge as of 01/21/2021

0.21%

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 01/21/2021

	Subsidized	Un-Subsidized
w/o sales charge	1.90%	0.69%
w/ sales charge	1.85%	0.67%

30-Day Standardized Yield as of 12/31/2020

	Subsidized	Un-Subsidized
w/o sales charge	0.54%	0.35%

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

Expense Ratioas of 12/31/2020

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 03/31/2021. 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 12/31/2020

Total Net Assets: $138.77 M
Inception Date: 04/20/2017
Dividend Frequency: Monthly (Daily Accrual)
Number of Holdings: 469
Minimum Initial Investment: $1,500+

Type	Assets
Investment Grade Corporate
U.S. Government Related
ABS
CMBS
MBS
High Yield Corporate
Sovereign
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
1-3 years
3-5 years
5-7 years
Greater than 10 years

CREDIT QUALITY DISTRIBUTION as of 12/31/2020 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 65 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 01/21/2021

	Subsidized³	Un-Subsidized⁴
w/o sales charge	1.90%	0.69%
w/ sales charge	1.85%	0.67%

30-Day Standardized Yield ² as of 12/31/2020

	Subsidized	Un-Subsidized
w/o sales charge	0.54%	0.35%

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

Fund Expense Ratio :

Gross 1.81%

Net 0.60%

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

w/o sales charge	2.54%	2.54%	2.89%	-	-	2.54%
Lipper Category Avg. Short Investment Grade Debt Funds	3.57%	3.57%	2.97%	-	-	-
Bloomberg Barclays 1-3 Year US Government/Credit Bond Index	3.33%	3.33%	2.98%	-	-	2.46%
w/ sales charge	0.23%	0.23%	2.11%	-	-	1.91%

Fund Expense Ratio :

Gross 1.81%

Net 0.60%

Fund Expense Ratio :

Gross 1.81%

Net 0.60%

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

w/o sales charge	2.54%	2.54%	2.89%	-	-	2.54%
Lipper Category Avg. Short Investment Grade Debt Funds	3.57%	3.57%	2.97%	-	-	-
Bloomberg Barclays 1-3 Year US Government/Credit Bond Index	3.33%	3.33%	2.98%	-	-	2.46%
w/ sales charge	0.23%	0.23%	2.11%	-	-	1.91%

Fund Expense Ratio :

Gross 1.81%

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

2020	2.54%	3.33%
2019	4.66%	4.03%
2018	1.50%	1.60%
2017	0.72%	0.84%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2021	-	-	-	-	0.21%
2020	-3.09%	4.06%	0.91%	0.77%	2.54%
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.

GROWTH OF $10,000 as of 12/31/2020

The chart begins on the Fund's inception date of 04/19/2017.

Based on a hypothetical Class A share investment of $10,000 on 04/19/2017 without sales charge and includes the reinvestment of all distributions.

NAV Historical Prices

Date	Net Asset Value

Portfolio

Type	Assets
Investment Grade Corporate
U.S. Government Related
ABS
CMBS
MBS
High Yield Corporate
Sovereign
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
1-3 years
3-5 years
5-7 years
Greater than 10 years

CREDIT QUALITY DISTRIBUTION as of 12/31/2020

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

Portfolio Positioning

We increased the Fund’s allocation to U.S. Treasuries in the first two months of the quarter as spreads on riskier assets generally narrowed and we continue to prioritize liquidity in the portfolio.
We decreased the Fund’s allocation to CMBS over the quarter and further improved the quality of the position. As spreads continued to repair, we trimmed the portfolio’s position as lingering concerns regarding the fundamentals of lower quality retail and hotel commercial real estate remain.
We also decreased the Fund’s allocation to investment grade corporate bonds as spreads continued to tighten during July and August.
We feel valuations are attractive compared to underlying economic fundamentals. The Fed continues to provide an environment of significantly low volatility, negative real yields, and support to maintain market liquidity.

Portfolio Details as of 12/31/2020

Total Net Assets: $138.77 M
Number of Issues: 469
Average Coupon: 2.58%
Average Life: 2.21 Years
Average Effective Duration: 1.66 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	0.125%	10/31/2022	8.7%
15-YR UMBS-TBA PROD JAN	3.000%	10/01/2034	6.8%
U.S. Treasury Note/Bond	2.500%	01/31/2021	6.7%
U.S. Treasury Note/Bond	0.125%	09/30/2022	5.7%
United States Treasury Bill	0.000%	02/04/2021	1.4%
Citigroup, Inc.	1.678%	05/15/2024	1.1%
Anglo American Capital plc	3.625%	09/11/2024	1.1%
UBS AG	7.625%	08/17/2022	1.1%
Wells Fargo & Co.	2.164%	02/11/2026	1.0%
General Motors Financial Co., Inc.	5.100%	01/17/2024	0.9%

% of Total Assets			34.5%

Holding	Coupon	Maturity	Assets

U.S. Treasury Note/Bond	0.125%	10/31/2022	9.7%
15-YR UMBS-TBA PROD DEC	3.000%	09/01/2034	7.6%
U.S. Treasury Note/Bond	2.500%	01/31/2021	7.4%
U.S. Treasury Note/Bond	0.125%	09/30/2022	6.4%
United States Treasury Bill	0.000%	02/04/2021	1.6%
Citigroup, Inc.	1.678%	05/15/2024	1.2%
UBS AG	7.625%	08/17/2022	1.2%
Wells Fargo & Co.	2.164%	02/11/2026	1.1%
Bank of America Corp.	3.004%	12/20/2023	0.9%
Danske Bank A/S	5.000%	01/12/2022	0.8%
Citigroup, Inc.	4.400%	06/10/2025	0.8%
Dell International LLC / EMC Corp.	5.450%	06/15/2023	0.8%
Anglo American Capital plc	3.625%	09/11/2024	0.8%
Sabine Pass Liquefaction LLC	5.625%	04/15/2023	0.8%
Broadcom Inc	3.625%	10/15/2024	0.8%
Carmax Auto Owner Trust 2019-4	2.320%	07/15/2025	0.6%
Bayer US Finance II LLC	3.875%	12/15/2023	0.6%
Toyota Auto Loan Extended Note Trust 2020-1	1.350%	05/25/2033	0.6%
Wells Fargo & Co.	2.406%	10/30/2025	0.6%
Goldman Sachs Group, Inc.	2.876%	10/31/2022	0.6%
General Motors Financial Co., Inc.	5.100%	01/17/2024	0.6%
Santander Consumer Auto Receivables Trust 2020-B	1.290%	04/15/2026	0.6%
Goldman Sachs Group, Inc.	1.355%	04/26/2022	0.5%
ABN Amro Bank NV	6.250%	04/27/2022	0.5%
Boeing Co.	4.508%	05/01/2023	0.5%
Daimler Finance North America LLC	3.875%	09/15/2021	0.5%
General Motors Financial Co., Inc.	3.700%	05/09/2023	0.5%
Cigna Corp	0.949%	09/17/2021	0.5%
Lendmark Funding Trust 2018-1	3.810%	12/21/2026	0.5%
UBS AG London	1.750%	04/21/2022	0.5%
Lennar Corp.	4.875%	12/15/2023	0.5%
GSI Commerce, Inc.	2.020%	03/20/2028	0.4%
Morgan Stanley	2.720%	07/22/2025	0.4%
Avolon Holdings Funding Ltd	5.250%	05/15/2024	0.4%
AbbVie, Inc.	3.450%	03/15/2022	0.4%
AstraZeneca plc	2.375%	06/12/2022	0.4%
Avis Budget Rental Car Funding	2.970%	03/20/2024	0.4%
Avid Automobile Receivables Trust 2019-1	2.820%	07/15/2026	0.4%
Foursight Capital Automobile Receivables Trust 201	3.680%	08/15/2023	0.4%
Becton, Dickinson & Co.	1.348%	06/06/2022	0.4%
Morgan Stanley Capital I Trust	3.201%	08/05/2034	0.4%
LYB International Finance III LLC	1.230%	10/01/2023	0.4%
Newark BSL CLO 1 Ltd	1.317%	12/21/2029	0.4%
Host Hotels & Resorts L.P.	0.510%	09/15/2023	0.4%
Reynolds American, Inc.	4.450%	06/12/2025	0.4%
Westlake Automobile Receivables Trust 2019-3	2.490%	10/15/2024	0.4%
Ally Financial, Inc.	5.125%	09/30/2024	0.4%
Honda Auto Receivables 2020-2 Owner Trust	1.090%	10/15/2026	0.4%
Santander Drive Auto Receivables Trust 2019-3	2.490%	10/15/2025	0.4%
VeriSign, Inc.	4.625%	05/01/2023	0.4%
Elm CLO 2014-1 Ltd	1.968%	01/17/2029	0.4%
BAT Capital Corp	3.222%	08/15/2024	0.4%
MPLX L.P.	5.250%	01/15/2025	0.4%
Enel Finance International N.V.	4.250%	09/14/2023	0.4%
Glencore Funding LLC	4.625%	04/29/2024	0.3%
General Motors Financial Co., Inc.	3.200%	07/06/2021	0.3%
Bank of America Corp.	2.456%	10/22/2025	0.3%
Otis Worldwide Corp	0.684%	04/05/2023	0.3%
Microchip Technology, Inc.	2.670%	09/01/2023	0.3%
World Financial Network Credit Card Master Trust	2.210%	07/15/2026	0.3%
Enel Finance International N.V.	2.875%	05/25/2022	0.3%
Zimmer Biomet Holdings, Inc.	0.977%	03/19/2021	0.3%
Trinity Acquisition plc	3.500%	09/15/2021	0.3%
Hyundai Auto Receivables Trust 2019-B	2.400%	06/15/2026	0.3%
OZLM Ltd.	1.388%	10/17/2029	0.3%
Continental Resources, Inc.	5.000%	09/15/2022	0.3%
Goldman Sachs Group, Inc.	3.500%	04/01/2025	0.3%
Glencore Funding LLC	4.125%	05/30/2023	0.3%
Master Credit Card Trust II	1.990%	09/21/2024	0.3%
GS Mortgage Securities Corp Trust 2019-SMP	1.291%	08/15/2032	0.3%
Glencore Finance Canada Ltd.	4.950%	11/15/2021	0.3%
Enel Finance International N.V.	2.650%	09/10/2024	0.3%
GS Mortgage Securities Trust	4.243%	08/10/2046	0.3%
VMC Finance 2019-FL3 LLC	1.250%	09/15/2036	0.3%
MVW Owner Trust 2017-1	2.420%	12/20/2034	0.3%
HCA, Inc.	5.250%	06/15/2026	0.3%
Volkswagen Auto Loan Enhanced Trust 2020-1	1.260%	08/20/2026	0.3%
Emera US Finance L.P.	2.700%	06/15/2021	0.3%
Royalty Pharma PLC	1.200%	09/02/2025	0.3%
Benefit Street Partners CLO X Ltd	1.377%	01/15/2029	0.3%
BAT Capital Corp	2.789%	09/06/2024	0.3%
MPLX L.P.	1.342%	09/09/2022	0.3%
Mylan, Inc.	1.208%	05/25/2065	0.3%
UBS AG Registered Shares	5.125%	05/15/2024	0.3%
New Residential Mortgage Loan Trust 2019-NQM3	2.802%	07/25/2049	0.3%
Atrium Hotel Portfolio Trust 2017-ATRM	1.071%	12/15/2036	0.3%
Bayer US Finance II LLC	3.500%	06/25/2021	0.3%
HCA, Inc.	5.250%	04/15/2025	0.3%
Cheniere Corpus Christi Holdings LLC	7.000%	06/30/2024	0.3%
OneMain Financial Issuance Trust 2018-2	3.570%	03/14/2033	0.3%
Santander Drive Auto Receivables Trust 2018-1	3.320%	03/15/2024	0.3%
VNO Mortgage Trust	3.448%	11/15/2030	0.3%
NXP BV / NXP Funding LLC	3.875%	09/01/2022	0.3%
Nutrition & Biosciences Inc	0.697%	09/15/2022	0.3%
AbbVie, Inc.	2.600%	11/21/2024	0.2%
Bancorp Commercial Mortgage 2019-CRE6 Trust	1.194%	09/15/2036	0.2%
BB-UBS Trust	3.430%	11/05/2036	0.2%
Bain Capital Credit CLO 2017-1	1.468%	07/20/2030	0.2%
Prestige Auto Receivables Trust 2017-1	3.610%	10/16/2023	0.2%
COMM 2015-DC1 Mortgage Trust	3.078%	02/10/2048	0.2%
CHT 2017-COSMO Mortgage Trust	1.641%	11/15/2036	0.2%
ME Funding LLC 2019-1	6.448%	07/30/2049	0.2%
Bank of America Corp.	4.000%	01/22/2025	0.2%
Westlake Automobile Receivables Trust 2020-1	2.520%	04/15/2025	0.2%
Citigroup Commercial Mortgage Trust	3.635%	05/10/2035	0.2%
Verus Securitization Trust 2020-5	1.218%	05/25/2065	0.2%
WFLD 2014-MONT Mortgage Trust	3.880%	08/10/2031	0.2%
Avolon Holdings Funding Ltd	5.125%	10/01/2023	0.2%
Daimler Finance North America LLC	3.650%	02/22/2024	0.2%
CPS Auto Receivables Trust 2019-D	2.540%	08/15/2024	0.2%
CPS Auto Receivables Trust 2019-D	2.350%	11/15/2023	0.2%
Global Payments, Inc.	2.650%	02/15/2025	0.2%
IHS Markit Ltd	5.000%	11/01/2022	0.2%
Exeter Automobile Receivables Trust 2019-4	2.300%	12/15/2023	0.2%
Dryden XXVI Senior Loan Fund	1.137%	04/15/2029	0.2%
Volkswagen Group of America Finance LLC	3.125%	05/12/2023	0.2%
NXP BV / NXP Funding LLC	4.625%	06/01/2023	0.2%
Las Vegas Sands Corp.	3.200%	08/08/2024	0.2%
Energy Transfer Operating LP	5.875%	01/15/2024	0.2%
BBCMS Mortgage Trust 2020-C7	2.044%	04/15/2053	0.2%
Westlake Automobile Receivables Trust 2019-3	2.410%	10/15/2024	0.2%
Angel Oak Mortgage Trust 2020-6	1.261%	05/25/2065	0.2%
National Fuel Gas Co.	3.750%	03/01/2023	0.2%
Diamondback Energy, Inc.	5.375%	05/31/2025	0.2%
Nutrition & Biosciences Inc	1.230%	10/01/2025	0.2%
Time Warner Cable LLC	4.125%	02/15/2021	0.2%
Santander Drive Auto Receivables Trust 2018-4	3.560%	07/15/2024	0.2%
Madison Park Funding XI Ltd	1.369%	07/23/2029	0.2%
Citibank, Inc.	0.853%	05/20/2022	0.2%
Oaktree EIF III Series I Ltd	2.218%	10/20/2027	0.2%
Conexant Systems, Inc.	1.557%	10/15/2031	0.2%
Bain Capital Credit CLO 2017-2	1.465%	07/25/2030	0.2%
LCM XXII Ltd.	1.378%	10/20/2028	0.2%
Elm CLO 2014-1 Ltd	1.388%	01/17/2029	0.2%
PTL Finance Corp.	3.900%	02/01/2024	0.2%
Benefit Street Partners CLO IV Ltd	1.468%	01/20/2029	0.2%
GS Mortgage Securities Trust 2015-GC34	3.506%	10/10/2048	0.2%
Huntington Ingalls Industries, Inc.	3.844%	05/01/2025	0.2%
Citigroup Commercial Mortgage Trust 2016-GC37	3.314%	04/10/2049	0.2%
Drive Auto Receivables Trust 2019-1	4.090%	06/15/2026	0.2%
Ammc Clo 19 Ltd.	1.377%	10/16/2028	0.2%
Mountain View CLO 2017-1 LLC	1.320%	10/16/2029	0.2%
LoanCore 2019-CRE2 Issuer Ltd	1.274%	05/15/2036	0.2%
Drive Auto Receivables Trust 2018-5	4.300%	04/15/2026	0.2%
Dell Equipment Finance Trust 2020-2	1.920%	03/23/2026	0.2%
GS Mortgage Securities Trust	3.050%	05/10/2049	0.2%
COMM 2015-LC21 Mortgage Trust	3.708%	07/10/2048	0.2%
SOUND POINT CLO III-R LTD	1.725%	04/15/2029	0.2%
BBCMS 2018-TALL Mortgage Trust	0.863%	03/15/2037	0.2%
CSMC Trust 2017-LSTK	2.761%	04/05/2033	0.2%
Aircastle Ltd.	4.400%	09/25/2023	0.2%
Avery Point VI CLO Ltd	1.275%	08/05/2027	0.2%
JP Morgan Chase Commercial Mortgage Securities Cor	4.128%	07/05/2031	0.2%
Drive Auto Receivables Trust	4.090%	01/15/2026	0.2%
Leucadia National Corp.	5.500%	10/18/2023	0.2%
NGPL Pipeco LLC	4.375%	08/15/2022	0.2%
CPS Auto Trust	4.610%	12/15/2022	0.2%
Vistra Operations Co LLC	3.550%	07/15/2024	0.2%
BAMLL Commercial Mortgage Securities Trust 2013-WB	3.652%	03/10/2037	0.2%
J.P. Morgan Chase Commercial Mortgage Securities T	3.554%	10/05/2031	0.2%
BlueMountain CLO 2015-2 Ltd	1.148%	07/18/2027	0.2%
DBWF 2018-GLKS Mortgage Trust	1.179%	12/19/2030	0.2%
VEREIT Operating Partnership L.P.	4.600%	02/06/2024	0.2%
Vista Point Securitization Trust 2020-1	1.763%	03/25/2065	0.2%
JPMorgan Chase & Co.	3.875%	09/10/2024	0.2%
World Financial Network Credit Card Master Trust	3.140%	12/15/2025	0.2%
Comision Federal de Electricidad	4.875%	01/15/2024	0.2%
Jersey Central Power & Light Co.	4.700%	04/01/2024	0.2%
BBVA Bancomer SA	4.375%	04/10/2024	0.2%
WestRock Co.	3.000%	09/15/2024	0.2%
COMM 2016-GCT Mortgage Trust	3.086%	08/10/2029	0.2%
Starwood Mortgage Residential Trust 2020-3	1.486%	04/25/2065	0.2%
Gazprom OAO Via Gaz Capital SA	4.950%	07/19/2022	0.2%
Baidu, Inc.	3.075%	04/07/2025	0.2%
Tencent Holdings Ltd.	2.985%	01/19/2023	0.2%
Enel Finance International N.V.	2.750%	04/06/2023	0.2%
Tengizchevroil Finance Co. International Ltd.	2.625%	08/15/2025	0.2%
Cox Communications, Inc.	2.950%	06/30/2023	0.2%
Boeing Co.	2.800%	03/01/2023	0.2%
Volkswagen Group of America Finance LLC	2.900%	05/13/2022	0.2%
Saudi Arabian Oil Co	2.750%	04/16/2022	0.2%
Morgan Stanley Capital Barclays Bank Trust 2016-MA	2.200%	09/13/2031	0.2%
Swedbank AB	1.300%	06/02/2023	0.2%
Danske Bank A/S	3.001%	09/20/2022	0.2%
Westlake Automobile Receivables Trust 2019-1	3.450%	03/15/2024	0.2%
Lloyds Banking Group plc	1.326%	06/15/2023	0.2%
JD.com, Inc.	3.125%	04/29/2021	0.2%
Carmax Auto Owner Trust 2020-1	2.340%	11/17/2025	0.2%
COMM Mortgage Trust	3.838%	09/10/2047	0.2%
Palmer Square Loan Funding 2018-5 Ltd	1.068%	01/20/2027	0.2%
CPS Auto Receivables Trust 2018-B	4.260%	03/15/2024	0.2%
BX Commercial Mortgage Trust 2019-XL	1.061%	10/15/2036	0.2%
BMW Floorplan Master Owner Trust	3.150%	05/15/2023	0.2%
Hewlett Packard Enterprise Co.	0.998%	03/12/2021	0.1%
Daimler Finance North America LLC	3.400%	02/22/2022	0.1%
Bank of America Corp.	3.950%	04/21/2025	0.1%
CPS Auto Receivables Trust 2017-C	3.790%	06/15/2023	0.1%
GS Mortgage Securities Corp Trust 2019-SMP	1.641%	08/15/2032	0.1%
FirstEnergy Corp.	2.850%	07/15/2022	0.1%
Morgan Stanley	0.780%	01/20/2023	0.1%
Santander Drive Auto Receivables Trust 2017-1	3.170%	04/17/2023	0.1%
Credit Suisse Mortgage Capital Certificates	1.700%	04/25/2065	0.1%
CNH Industrial NV	4.500%	08/15/2023	0.1%
AerCap Ireland Capital Ltd.	4.875%	01/16/2024	0.1%
GCAT 2020-NQM2 Trust	1.555%	04/25/2065	0.1%
GS Mortgage Securities Corp Trust 2012-ALOHA	3.551%	04/10/2034	0.1%
Hasbro, Inc.	3.000%	11/19/2024	0.1%
Verus Securitization Trust 2020-4	1.502%	05/25/2065	0.1%
Octagon Investment Partners 25 Ltd	1.018%	10/20/2026	0.1%
Boston Scientific Corp.	3.450%	03/01/2024	0.1%
National Fuel Gas Co.	4.900%	12/01/2021	0.1%
Micron Technology, Inc.	2.497%	04/24/2023	0.1%
WFRBS Commercial Mortgage Trust	3.995%	05/15/2047	0.1%
Telefonica Emisiones SAU	5.462%	02/16/2021	0.1%
Protective Life Global Funding	1.082%	06/09/2023	0.1%
Metropolitan Life Global Funding I	0.900%	06/08/2023	0.1%
Morgan Stanley	1.188%	07/22/2022	0.1%
Hewlett Packard Enterprise Co.	1.024%	10/05/2021	0.1%
American Express Credit Account Master Trust	3.070%	10/15/2024	0.1%
J.P. Morgan Chase Commercial Mortgage Securities T	3.884%	01/05/2034	0.1%
Deephaven Residential Mortgage Trust 2020-2	1.692%	05/25/2065	0.1%
AmeriCredit Automobile Receivables Trust 2017-2	2.970%	03/20/2023	0.1%
JP Morgan Chase Commercial Mortgage Securities Tru	1.741%	06/15/2032	0.1%
Bank of America Corp.	0.810%	10/24/2024	0.1%
Citigroup Commercial Mortgage Trust	3.024%	09/10/2045	0.1%
Parsley Energy LLC	5.375%	01/15/2025	0.1%
GLS Auto Receivables Issuer Trust 2020-3	1.920%	05/15/2025	0.1%
Ellington Financial Mortgage Trust 2020-1	2.006%	05/25/2065	0.1%
Carmax Auto Owner Trust 2020-1	2.640%	07/15/2026	0.1%
Ford Credit Auto Owner Trust 2019-C	1.880%	07/15/2022	0.1%
Diamond Resorts Owner Trust 2018-1	4.190%	01/21/2031	0.1%
Vulcan Materials Co.	0.896%	03/01/2021	0.1%
Westlake Automobile Receivables Trust 2019-1	3.260%	10/17/2022	0.1%
Westlake Automobile Receivables Trust 2019-3	2.150%	02/15/2023	0.1%
Verus Securitization Trust 2020-INV1	1.977%	04/25/2060	0.1%
Jackson National Life Global Funding	0.795%	06/11/2021	0.1%
Phillips 66	0.834%	02/26/2021	0.1%
Vista Point Securitization Trust 2020-2	1.475%	04/25/2065	0.1%
COMM Mortgage Trust	3.819%	06/10/2047	0.1%
Fairstone Financial Issuance Trust I	5.084%	03/21/2033	0.1%
Cardinal Health, Inc.	1.083%	06/15/2022	0.1%
AmeriCredit Automobile Receivables Trust 2017-3	2.240%	06/19/2023	0.1%
Wells Fargo Commercial Mortgage Trust 2017-RC1	3.118%	01/15/2060	0.1%
Dominion Resources, Inc.	4.104%	04/01/2021	0.1%
Citigroup Commercial Mortgage Trust 2016-GC36	3.616%	02/10/2049	0.1%
COMM 2014-277P Mortgage Trust	3.732%	08/10/2049	0.1%
First Investors Auto Owner Trust 2019-2	2.710%	12/15/2025	0.1%
Carvana Auto Receivables Trust 2019-2	3.000%	06/17/2024	0.1%
Foursight Capital Automobile Receivables Trust 201	5.560%	01/16/2024	0.1%
SCF Equipment Leasing 2019-2 LLC	2.760%	08/20/2026	0.1%
SCF Equipment Leasing 2019-2 LLC	3.110%	06/21/2027	0.1%
NBCUniversal Enterprise, Inc.	5.250%	06/19/2099	0.1%
NextGear Floorplan Master Owner Trust	3.690%	10/15/2023	0.1%
OneMain Financial Issuance Trust 2019-1	3.790%	02/14/2031	0.1%
Aviation Capital Group Corp.	3.875%	05/01/2023	0.1%
Mercedes-Benz Auto Lease Trust 2019-B	2.000%	10/17/2022	0.1%
Amur Equipment Finance Receivables VII LLC	3.090%	03/20/2025	0.1%
AOA 2015-1177 Mortgage Trust	2.957%	12/13/2029	0.1%
Park Aerospace Holdings Ltd	4.500%	03/15/2023	0.1%
GS Mortgage Securities Corp. II	3.007%	12/10/2030	0.1%
General Motors Financial Co., Inc.	2.750%	06/20/2025	0.1%
PFS Financing Corp.	1.160%	08/15/2024	0.1%
SCF Equipment Leasing 2019-1 LLC	3.920%	11/20/2026	0.1%
Perimeter Master Note Business Trust	4.310%	12/15/2022	0.1%
PFS Financing Corp.	2.890%	02/15/2023	0.1%
Master Credit Card Trust	3.570%	07/21/2022	0.1%
Mercedes-Benz Master Owner Trust 2018-BA	0.481%	05/15/2023	0.1%
UBS-BAMLL Trust	3.663%	06/10/2030	0.1%
Apex Credit CLO 2016 Ltd	1.517%	10/27/2028	0.1%
GS Mortgage Securities Corp Trust 2019-BOCA	1.641%	06/15/2038	0.1%
Dominion Resources, Inc.	3.071%	08/15/2024	0.1%
Equinix, Inc.	1.000%	09/15/2025	0.1%
WFRBS Commercial Mortgage Trust 2014-C19	4.101%	03/15/2047	0.1%
BX Commercial Mortgage Trust 2019-XL	1.221%	10/15/2036	0.1%
BX Commercial Mortgage Trust 2019-XL	1.391%	10/15/2036	0.1%
BX Commercial Mortgage Trust 2019-XL	1.591%	10/15/2036	0.1%
BMW US Capital LLC	3.900%	04/09/2025	0.1%
BX Commercial Mortgage Trust 2019-XL	1.941%	10/15/2036	0.1%
Morgan Stanley Bank of America Merrill Lynch Trust	3.277%	10/15/2030	0.1%
General Motors Financial Co., Inc.	3.150%	06/30/2022	0.1%
Boston Properties, Inc.	4.125%	05/15/2021	0.1%
Morgan Stanley Capital I Trust	4.661%	06/15/2044	0.1%
Hudsons Bay Simon JV Trust	3.914%	08/05/2034	0.1%
Hyundai Capital America	1.138%	03/12/2021	0.1%
Foursight Capital Automobile Receivables Trust 201	3.530%	04/17/2023	0.1%
Massachusetts Educational Financing Authority	1.165%	04/25/2038	0.1%
Barclays Bank plc	10.179%	06/12/2021	0.1%
Canadian Imperial Bank of Commerce	0.950%	06/23/2023	0.1%
Toyota Motor Credit Corp.	1.350%	08/25/2023	0.1%
UBS-Barclays Commercial Mortgage Trust	3.244%	04/10/2046	0.1%
BDS 2018-FL2	1.100%	08/15/2035	0.1%
CFCRE Commercial Mortgage Trust 2018-TAN	4.236%	02/15/2033	0.1%
Lincoln National Corp.	4.200%	03/15/2022	0.1%
Carrier Global Corp	2.242%	02/15/2025	0.1%
Drive Auto Receivables Trust 2019-4	2.840%	11/17/2025	0.1%
Puget Energy, Inc.	5.625%	07/15/2022	0.1%
Nissan Motor Acceptance Corp.	2.550%	03/08/2021	0.1%
Parsley Energy LLC	5.250%	08/15/2025	0.1%
Ameriprise Financial, Inc.	3.000%	04/02/2025	0.1%
CPS Auto Receivables Trust 2018-A	3.050%	12/15/2023	0.1%
J.P. Morgan Chase Commercial Mortgage Securities T	2.798%	10/05/2031	0.1%
Westlake Automobile Receivables Trust 2018-3	3.320%	10/16/2023	0.1%
First Investors Auto Owner Trust 2019-1	2.890%	03/15/2024	0.1%
Ausgrid Finance Pty Ltd	3.850%	05/01/2023	0.0%
SCF Equipment Leasing 2019-2 LLC	2.220%	06/20/2024	0.0%
PPL WEM Ltd./Western Power Distribution Ltd.	5.375%	05/01/2021	0.0%
First Investors Auto Owner Trust 2019-2	2.210%	09/16/2024	0.0%
NXP BV / NXP Funding LLC / NXP USA Inc	2.700%	05/01/2025	0.0%
BMW Vehicle Owner Trust 2019-A	2.050%	05/25/2022	0.0%
MPLX L.P.	3.500%	12/01/2022	0.0%
TCF Auto Receivables Owner Trust 2016-PT1	4.200%	04/15/2024	0.0%
TCF Auto Receivables Owner Trust 2016-1	3.500%	07/17/2023	0.0%
Cantor Commercial Real Estate Lending 2019-CF1	4.411%	05/15/2052	0.0%
Texas Eastern Transmission L.P.	2.800%	10/15/2022	0.0%
Dominion Resources, Inc.	0.750%	12/01/2020	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.270%	06/20/2023	0.0%
World Financial Network Credit Card Master Trust	2.030%	04/15/2025	0.0%
Arivo Acceptance Auto Loan Receivables Trust 2019-	2.990%	07/15/2024	0.0%
Drive Auto Receivables Trust 2017-1	3.840%	03/15/2023	0.0%
UBS-Barclays Commercial Mortgage Trust	3.525%	05/10/2063	0.0%
Avid Automobile Receivables Trust 2019-1	2.620%	02/15/2024	0.0%
Towd Point Asset Trust 2018-SL1	0.749%	01/25/2046	0.0%
Pentair Finance SA	3.150%	09/15/2022	0.0%
Cheniere Corpus Christi Holdings LLC	5.875%	03/31/2025	0.0%
RETL 2019-RVP	2.241%	03/15/2036	0.0%
BX Commercial Mortgage Trust 2018-BIOA	0.812%	03/15/2037	0.0%
Jefferies Group LLC	5.125%	01/20/2023	0.0%
GS Mortgage Securities Corp Trust 2019-70P	0.500%	10/15/2036	0.0%
Morgan Stanley Bank of America Merrill Lynch Trust	4.064%	02/15/2047	0.0%
Wells Fargo Commercial Mortgage Trust 2015-C26	3.580%	02/15/2048	0.0%
Aircastle Ltd.	5.000%	04/01/2023	0.0%
Macquarie Bank Ltd.	6.625%	04/07/2021	0.0%
California Republic Auto Receivables Trust 2017-1	2.910%	12/15/2022	0.0%
Canadian Pacific Railway Co.	9.450%	08/01/2021	0.0%
Cardinal Health, Inc.	3.500%	11/15/2024	0.0%
Catholic Health Initiatives	1.547%	10/01/2025	0.0%
Flagship Credit Auto Trust 2018-3	3.590%	12/16/2024	0.0%
MSCG Trust	2.612%	06/07/2035	0.0%
Natixis Commercial Mortgage Securities Trust 2018-	3.917%	11/15/2032	0.0%
J.P. Morgan Chase Commercial Mortgage Securities T	4.536%	01/05/2034	0.0%
Diamondback Energy, Inc.	4.750%	05/31/2025	0.0%
Mountain Hawk III CLO Ltd.	1.418%	04/18/2025	0.0%
J.P. Morgan Chase Commercial Mortgage Securities T	2.281%	10/15/2032	0.0%
Energy Transfer Operating LP	7.600%	02/01/2024	0.0%
HSBC USA, Inc.	9.300%	06/01/2021	0.0%
Chesapeake Funding II LLC	1.990%	05/15/2029	0.0%
Midwest Connector Capital Co LLC	3.625%	04/01/2022	0.0%
American Electric Power Co., Inc.	0.750%	11/01/2023	0.0%
Hilton Orlando Trust 2018-ORL	0.911%	12/15/2034	0.0%
Wells Fargo Commercial Mortgage Trust 2018-C48	4.224%	01/15/2052	0.0%
Suncor Energy Ventures Corp	9.400%	09/01/2021	0.0%
HMH Trust 2017-NSS	3.787%	07/05/2031	0.0%
Wells Fargo Commercial Mortgage Trust 2015-NXS3	3.354%	09/15/2057	0.0%
Bank of The West Auto Trust 2017-1	2.110%	01/15/2023	0.0%
Morgan Stanley Capital I Trust	3.773%	03/15/2045	0.0%
Hyundai Capital America	3.450%	03/12/2021	0.0%
Hyundai Auto Receivables Trust 2019-B	1.930%	07/15/2022	0.0%
Brixmor Operating Partnership L.P.	1.301%	02/01/2022	0.0%
WFRBS Commercial Mortgage Trust 2013-C18	3.896%	12/15/2046	0.0%
Carmax Auto Owner Trust 2019-3	2.210%	12/15/2022	0.0%
Mercedes-Benz Auto Lease Trust 2019-A	3.100%	11/15/2021	0.0%
Pacific Life Global Funding II	1.200%	06/24/2025	0.0%
BX Trust 2018-GW	0.941%	05/15/2035	0.0%
American Credit Acceptance Receivables Trust 2019-	3.050%	05/12/2023	0.0%
TCF Auto Receivables Owner Trust 2016-PT1	2.920%	10/17/2022	0.0%
WFRBS Commercial Mortgage Trust	4.900%	06/15/2045	0.0%
Wells Fargo Commercial Mortgage Trust 2014-LC16	3.548%	08/15/2050	0.0%
WFRBS Commercial Mortgage Trust 2012-C9	2.870%	11/15/2045	0.0%
SCF Equipment Leasing 2018-1 LLC	3.630%	10/20/2024	0.0%
Newell Rubbermaid, Inc.	4.350%	04/01/2023	0.0%
UBS-Barclays Commercial Mortgage Trust	3.185%	03/10/2046	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%
SL Green Operating Partnership L.P.	3.250%	10/15/2022	0.0%
COMM Mortgage Trust	3.644%	12/10/2047	0.0%
Fifth Third Auto Trust 2019-1	2.660%	05/16/2022	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	1.141%	06/15/2032	0.0%
ReadyCap Commercial Mortgage Trust 2019-6	2.833%	10/25/2052	0.0%
ReadyCap Commercial Mortgage Trust 2018-4	3.390%	02/27/2051	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%
GM Financial Automobile Leasing Trust 2019-2	2.670%	03/21/2022	0.0%
SCF Equipment Leasing 2017-2 LLC	3.410%	12/20/2023	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	4.950%	07/05/2033	0.0%
Westlake Automobile Receivables Trust 2019-2	3.060%	02/15/2023	0.0%
Capital One Prime Auto Receivables Trust 2019-1	2.580%	04/15/2022	0.0%
Government National Mortgage Association	3.000%	01/16/2048	0.0%
Diamond Resorts Owner Trust	3.080%	11/20/2028	0.0%
CNH Capital LLC	4.875%	04/01/2021	0.0%
Ally Financial, Inc.	4.250%	04/15/2021	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	1.788%	07/05/2033	0.0%
Catholic Health Initiatives	2.760%	10/01/2024	0.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr	2.020%	11/15/2035	0.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr	2.350%	11/15/2035	0.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr	2.700%	11/15/2035	0.0%
Wabtec Corp.	4.400%	03/15/2024	0.0%
COMM Mortgage Trust	4.576%	07/10/2050	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	4.549%	07/05/2033	0.0%
Chesapeake Funding II LLC	1.910%	08/15/2029	0.0%
Chase Issuance Trust	2.770%	03/15/2023	0.0%
Equifax, Inc.	1.150%	08/15/2021	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	1.088%	07/05/2033	0.0%
SLIDE 2018-FUN	1.041%	06/15/2031	0.0%
UBS-Citigroup Commercial Mortgage Trust	3.595%	01/10/2045	0.0%
SLIDE 2018-FUN	1.391%	06/15/2031	0.0%
SLIDE 2018-FUN	1.691%	06/15/2031	0.0%
BX Trust 2017-SLCT	2.191%	07/15/2034	0.0%
Citigroup Commercial Mortgage Trust	2.944%	02/10/2048	0.0%
Illinois, IL	4.950%	06/01/2023	0.0%
Motel 6 Trust 2017-MTL6	1.541%	08/15/2034	0.0%
Orange Lake Timeshare Trust 2015-A	2.880%	09/08/2027	0.0%
JP Morgan Chase Commercial Mortgage Securities Tru	1.441%	06/15/2032	0.0%
San Diego Gas & Electric Co	1.914%	02/01/2022	0.0%
Associated Bank NA/Green Bay WI	3.500%	08/13/2021	0.0%
Citigroup Commercial Mortgage Trust 2018-B2	3.788%	03/10/2051	0.0%
Evergy Inc	2.450%	09/15/2024	0.0%
Mercedes-Benz Auto Lease Trust 2018-B	3.210%	09/15/2021	0.0%
Drive Auto Receivables Trust	3.720%	09/16/2024	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%
Aircastle Ltd.	5.500%	02/15/2022	0.0%
GS Mortgage Securities Corp Trust 2019-SMP	0.606%	08/15/2032	0.0%
E*TRADE Financial Corp.	2.950%	08/24/2022	0.0%
Sunoco Logistics Partners L.P.	4.400%	04/01/2021	0.0%
Government National Mortgage Association	2.750%	02/16/2058	0.0%
SLIDE 2018-FUN	0.976%	12/15/2020	0.0%
Celanese US Holdings LLC	5.875%	06/15/2021	0.0%
General Motors Financial Co., Inc.	3.450%	01/14/2022	0.0%
Continental Resources, Inc.	4.500%	04/15/2023	0.0%
Exeter Automobile Receivables Trust 2017-3	2.810%	09/15/2022	0.0%
TransAlta Corp.	4.500%	11/15/2022	0.0%
Flagship Credit Auto Trust 2017-3	2.590%	07/15/2022	0.0%
Ascentium Equipment Receivables 2017-1 Trust	2.290%	06/10/2021	0.0%
US 2YR NOTE (CBT) MAR21	0.000%	04/05/2021	0.0%
US 5YR NOTE (CBT) MAR21	0.000%	04/05/2021	0.0%
Commercial Mortgage Backed Index Swap	0.000%	05/11/2063	0.0%
FX USD/CAD 12/20	0.000%	12/15/2020	0.0%
Commercial Mortgage Backed Index Swap	0.000%	05/11/2063	0.0%
Commercial Mortgage Backed Index Swap	0.000%	05/11/2063	0.0%
Commercial Mortgage Backed Index Swap	0.000%	05/11/2063	-0.1%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 01/21/2021: $0
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	12/31/2020	$0.01568	$9.91
Daily	Daily	11/30/2020	$0.01526	$9.89
Daily	Daily	10/31/2020	$0.01481	$9.87
Daily	Daily	09/30/2020	$0.01487	$9.88
Daily	Daily	08/31/2020	$0.01670	$9.88
Daily	Daily	07/31/2020	$0.01782	$9.87
Daily	Daily	06/30/2020	$0.01868	$9.84
Daily	Daily	05/31/2020	$0.02329	$9.75
Daily	Daily	04/30/2020	$0.02381	$9.68
Daily	Daily	03/31/2020	$0.02340	$9.52
Daily	Daily	02/29/2020	$0.02201	$9.96
Daily	Daily	01/31/2020	$0.02027	$9.94

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	01/31/2021
Daily	Daily	02/28/2021
Daily	Daily	03/31/2021
Daily	Daily	04/30/2021
Daily	Daily	05/31/2021
Daily	Daily	06/30/2021
Daily	Daily	07/31/2021
Daily	Daily	08/31/2021
Daily	Daily	09/30/2021
Daily	Daily	10/31/2021
Daily	Daily	11/30/2021
Daily	Daily	12/31/2021

Fees & Expenses

Sales Charge Schedule as of 01/21/2021

	Sales Charge	Dealer's Concession	Prices at Breakpoint
Less than $100,000	2.25%	2.00%	$10.15
$100,000 to $249,999	1.75%	1.50%	$10.10
$250,000 to $499,999	1.25%	1.00%	$10.05
$500,000 to $999,999	0.00%	1.00%	$9.92
$1,000,000 to $5,000,000	0.00%	1.00%	$9.92

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 (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.
Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored 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 singlebank 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 12/31/2020

Expense ratio details, Click here.

Fund Documents

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n/a	Portfolio Holdings 1Q Publish Date:11/03/2015
n/a	Portfolio Holdings 3Q Publish Date:11/03/2015
	Summary Prospectus Publish Date:11/03/2015
n/a	Statutory Prospectus Publish Date:11/03/2015
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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^*Barron’s Top Fund Families of 2019, February 14, 2020, #5 in the Taxable Bond Category among 55 fund families. Based on the net total return of the one−year period ending 12/31/2019. #14 Overall ranking among 55 qualifying fund families based on the net total return of the one-year period ending 12/31/2019. Five-year Overall ranking is #30 out of 52 fund families; 10-year Overall ranking is #33 out of 45 fund families.

Source: Barron’s, “Barron’s Top Fund Families of 2019,” February 14, 2020. Barron’s rankings are based on asset weighted returns in funds in five categories: U.S. equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2019, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2019 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well. Barron's Fund Family Rankings are awarded annually.

© Reuters 2020. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

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.

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 01/21/2021

30-Day Standardized Yield as of 12/31/2020

Expense Ratioas of 12/31/2020

Fund Basicsas of 12/31/2020

CREDIT QUALITY DISTRIBUTION as of 12/31/2020 View Portfolio

INVESTMENT TEAM

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Performance

Performance

Dividend Yield 1 as of 01/21/2021

30-Day Standardized Yield 2 as of 12/31/2020

Fund Expense Ratio :

Gross 1.81%

Net 0.60%

Fund Expense Ratio :

Gross 1.81%

Net 0.60%

Fund Expense Ratio :

Gross 1.81%

Net 0.60%

Fund Expense Ratio :

Gross 1.81%

Net 0.60%

GROWTH OF $10,000 as of 12/31/2020

NAV Historical Prices

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 12/31/2020

Portfolio Positioning

Portfolio Details as of 12/31/2020

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 01/21/2021

EXPENSE RATIOas of 12/31/2020

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Securing a sustainable future for
our clients, our people, and our world.

Inspired by our mission, we are committed to creating long-term financial security for our clients, empowering our people, advancing our communities, and ensuring a vibrant future for our planet.

Dividend Yield ¹ as of 01/21/2021

30-Day Standardized Yield ² as of 12/31/2020