LSYAX | Short Duration High Yield Fund Class A | Lord Abbett
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Short Duration High Yield Fund

Daily price w/o sales charge as of 11/29/2021

$10.85

arrowUp$0.01

YTD Returns w/o sales charge as of 11/29/2021

4.35%

Click here to view all legal text including risk information

Summary

Summary

What is the Short Duration High Yield Fund?

The Fund’s investment objective is to seek a high current income and the opportunity for capital appreciation to produce a high total return.

 

Yield

Dividend Yield 1 as of 11/29/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.08% 1.83%
w/ sales charge 4.96% 1.79%

30-Day Standardized Yield 2 as of 10/31/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.33% 2.26%

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

Expense Ratioas of 10/31/2021

Expense ratio details, Click here.

Fund Basicsas of 10/29/2021

Total Net Assets
$18.73 M
Inception Date
05/01/2020
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
449
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 3.95%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 5.08% 10.03% - - - 12.71%
Lipper Category Avg. Short High Yield Funds 3.84% 8.07% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 4.19% 8.69% - - - 11.90%
w/ sales charge 2.72% 7.59% - - - 11.02%

Fund Expense Ratio :

Gross 3.95%

Net 0.71%

Fund Expense Ratio :

Gross 3.95%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 4.74% 10.35% - - - 13.26%
Lipper Category Avg. Short High Yield Funds 3.69% 8.05% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 4.08% 9.03% - - - 12.58%
w/ sales charge 2.38% 7.89% - - - 11.46%

Fund Expense Ratio :

Gross 3.95%

Net 0.71%

Returns with sales charges reflect a maximum sales charge of 2.25%.

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.

RELATED CONTENT

Yield, Stability, Liquidity, and Diversification: Are Fixed Income Allocations Still Up to the Task?
October 27, 2020

In an era of ultra-low interest rates, we re-examine the purpose and constitution of Core fixed income.

Uncovering Opportunity in a Rebounding U.S. High Yield Market
June 11, 2020

With the broad financial market recovery since late March, U.S. high yield is no longer as dislocated, but the rationale for a strategic allocation to the asset class remains intact in our view.

“Fallen Angels” Gain a Rising Profile in High Yield
June 1, 2020

Bonds downgraded from investment grade to speculative grade historically have outperformed other areas of high yield—but we believe a selective approach to these securities is crucial.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

Karen J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

8 Years of Industry Experience

Supported By 64 Investment Professionals with 16 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 11/29/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.08% 1.83%
w/ sales charge 4.96% 1.79%

30-Day Standardized Yield 2 as of 10/31/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.33% 2.26%

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

Fund Expense Ratio :

Gross 3.95%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 5.08% 10.03% - - - 12.71%
Lipper Category Avg. Short High Yield Funds 3.84% 8.07% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 4.19% 8.69% - - - 11.90%
w/ sales charge 2.72% 7.59% - - - 11.02%

Fund Expense Ratio :

Gross 3.95%

Net 0.71%

Fund Expense Ratio :

Gross 3.95%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 4.74% 10.35% - - - 13.26%
Lipper Category Avg. Short High Yield Funds 3.69% 8.05% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 4.08% 9.03% - - - 12.58%
w/ sales charge 2.38% 7.89% - - - 11.46%

Fund Expense Ratio :

Gross 3.95%

Net 0.71%

Returns with sales charges reflect a maximum sales charge of 2.25%.

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 ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD
2020 13.93% 3.85%
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 1.94% 2.01% 0.71% - 4.35%
2020 - - 4.02% 5.36% 13.93%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Corporate
Bank Loans
CLO
Investment Grade Corporate
CMBS
Other
Cash

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

Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

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

Credit Quality Distribution as of 10/29/2021

Rating Assets
AA
A
BBB
BB
B
CCC
<CCC
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 average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 03/31/2021

  • One of the Fund’s largest sector overweights is in leisure, which is largely driven by the Fund’s allocation to regional gaming credits, such as casinos. In our view, the gaming industry has benefited from strong operating improvements due to drastic cost-cutting including reduced promotional spend, as well as pent-up demand. The Fund’s focus on regional gaming has also benefited from an emphasis on operators who are less reliant on ‘fly-in’ customers and workweek business conferences, both of which are a larger part of the industry in international gaming centers such as Las Vegas.
  • We continue to have a broadly constructive view on high yield credit even while acknowledging that today’s valuations are far less dislocated than they were for much of 2020. Management teams have broadly positioned balance sheets to weather any residual economic softness near term through an active new issue market while also working to preserve margins. For 2021, we believe potential outperformance will likely be sourced by idiosyncratic opportunities within high yield as opposed to broad market moves. We continue to see upside in fallen angels, many of which we believe will regain investment grade status over the coming year or two. Further, while the pandemic has accelerated the secular struggles of segments of the economy, it has produced structural changes with new beneficiaries.  The Fund’s positioning currently reflects this view as we are investing in companies and industries that we believe are better poised to adapt to and benefit from these structural economic changes.

PORTFOLIO DETAILS as of 10/29/2021

Total Net Assets
$18.73 M
Number of Issues
449
Average Coupon
5.6%
Average Maturity
3.58 Years
Average Effective Duration
1.4 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Ford Motor Co 9.000% 04/22/2025 2.6%
Occidental Petroleum Corp 5.550% 03/15/2026 1.9%
Webster Park CLO Ltd 1.932% 07/20/2030 1.3%
TransDigm Inc 5.500% 11/15/2027 1.2%
Welltec International ApS 8.250% 10/15/2026 1.1%
CA Magnum Holdings 5.375% 10/31/2026 1.1%
Empire Resorts Inc 7.750% 11/01/2026 1.1%
American Airlines Inc 11.750% 07/15/2025 1.0%
Tianqi Finco Co Ltd 3.750% 11/28/2022 1.0%
Sprint Corp 7.625% 02/15/2025 0.8%
% of Total Assets 13.1%
Holding Coupon Maturity Assets
Ford Motor Co9.000% 04/22/20252.8%
Occidental Petroleum Corp5.550% 03/15/20261.8%
Webster Park CLO Ltd1.934% 07/20/20301.4%
TransDigm Inc5.500% 11/15/20271.3%
Welltec International ApS8.250% 10/15/20261.1%
Tianqi Finco Co Ltd3.750% 11/28/20221.1%
American Airlines Inc11.750% 07/15/20250.9%
Sprint Corp7.625% 02/15/20250.9%
CIFC Funding 2021-III Ltd3.148% 07/15/20360.8%
Voya CLO 2019-1 Ltd1.676% 04/15/20310.8%
Freeport-McMoRan Inc4.550% 11/14/20240.8%
Netflix Inc3.625% 06/15/20250.8%
Ford Motor Co4.346% 12/08/20260.8%
Navient Corp6.750% 06/25/20250.7%
Royal Caribbean Cruises Ltd9.125% 06/15/20230.7%
Pinnacle Bidco PLC5.500% 02/15/20250.7%
Peach Property Finance GmbH4.375% 11/15/20250.7%
PeopleCert Wisdom Issuer PLC5.750% 09/15/20260.7%
Cogent Communications Group Inc4.375% 06/30/20240.7%
Western Midstream Operating LP3.950% 06/01/20250.7%
Promontoria Holding 264 BV6.750% 08/15/20230.6%
United Airlines Inc4.375% 04/15/20260.6%
Stonegate Pub Co Financing 2019 PLC5.200% 07/31/20250.6%
Centennial Resource Production LLC5.375% 01/15/20260.6%
SM Energy Co5.625% 06/01/20250.6%
Signa Development Finance SCS5.500% 07/23/20260.6%
Inter Media and Communication SpA4.875% 12/31/20220.6%
Matador Resources Co5.875% 09/15/20260.6%
Oceaneering International Inc4.650% 11/15/20240.6%
JP Morgan Chase Commercial Mortgage Securities Tru3.934% 03/15/20360.6%
AMMC CLO 15 Ltd3.526% 01/15/20320.6%
Laredo Petroleum Inc9.500% 01/15/20250.6%
TCW CLO 2017-1A Ltd3.280% 07/29/20290.6%
JPMorgan Chase & Co4.000% 12/31/20990.6%
OneMain Finance Corp8.875% 06/01/20250.5%
Howmet Aerospace Inc6.875% 05/01/20250.5%
General Electric Co3.449% 06/15/21990.5%
Caesars Entertainment Inc6.250% 07/01/20250.5%
California Resources Corp7.125% 02/01/20260.5%
Apache Corp4.625% 11/15/20250.5%
Warrior Met Coal Inc8.000% 11/01/20240.5%
Carnival Corp11.500% 04/01/20230.5%
Range Resources Corp4.875% 05/15/20250.5%
Carnival Corp10.500% 02/01/20260.5%
EQT Corp6.625% 02/01/20250.4%
FMG Resources August 2006 Pty Ltd4.500% 09/15/20270.4%
Southwestern Energy Co6.450% 01/23/20250.4%
HAT Holdings I LLC / HAT Holdings II LLC6.000% 04/15/20250.4%
Buckeye Partners LP6.375% 01/22/20780.4%
Forestar Group Inc3.850% 05/15/20260.4%
MGM Resorts International6.000% 03/15/20230.4%
Grinding Media Inc / Moly-Cop AltaSteel Ltd7.375% 12/15/20230.4%
Quikrete Holdings3.081% 06/11/20280.4%
Turning Point Brands Inc5.625% 02/15/20260.4%
MEG Energy Corp7.125% 02/01/20270.4%
Colgate Energy Partners III LLC7.750% 02/15/20260.4%
Tenet Healthcare Corp4.875% 01/01/20260.4%
OneMain Finance Corp7.125% 03/15/20260.4%
Starfruit US Holdco LLC2.832% 09/20/20250.4%
American Airlines Group Inc3.750% 03/01/20250.4%
TechnipFMC PLC6.500% 02/01/20260.4%
Hawaiian Brand Intellectual Property Ltd / Hawaiia5.750% 01/20/20260.4%
Legacy LifePoint Health LLC4.375% 02/15/20270.4%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.4%
PDC Energy Inc5.750% 05/15/20260.4%
Brinker International Inc5.000% 10/01/20240.4%
CITGO Petroleum Corp7.000% 06/15/20250.4%
Endeavor Energy Resources LP / EER Finance Inc5.500% 01/30/20260.4%
Oasis Petroleum Inc6.375% 06/01/20260.4%
OneMain Finance Corp8.250% 10/01/20230.4%
Trinity Industries Inc4.550% 10/01/20240.4%
Gulfport Energy Operating Corp8.000% 05/17/20260.4%
Precision Drilling Corp7.125% 01/15/20260.4%
VICI Properties LP / VICI Note Co Inc3.500% 02/15/20250.4%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.4%
Berry Petroleum Co LLC7.000% 02/15/20260.4%
USA Compression Partners LP / USA Compression Fina6.875% 04/01/20260.4%
Bombardier Inc7.125% 06/15/20260.3%
BCPE Ulysses Intermediate Inc7.750% 04/01/20270.3%
SkyMiles IP Ltd4.750% 09/16/20270.3%
FXI Holdings Inc7.875% 11/01/20240.3%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.3%
Drive Chassis Holdco LLC7.119% 04/10/20260.3%
Claros Mortgage Trust Inc.6.000% 08/05/20260.3%
Antero Midstream Partners LP / Antero Midstream Fi7.875% 05/15/20260.3%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.3%
Hudbay Minerals Inc4.500% 04/01/20260.3%
TRI Pointe Group Inc / TRI Pointe Homes Inc5.875% 06/15/20240.3%
Air Lease Corp4.650% 06/15/21990.3%
New Home Co Inc/The7.250% 10/15/20250.3%
Fortress Transportation and Infrastructure Investo6.500% 10/01/20250.3%
Advisor Group Holdings Inc10.750% 08/01/20270.3%
Gray Television Inc7.000% 05/15/20270.3%
DISH DBS Corp5.875% 11/15/20240.3%
Melissa & Doug5.435% 06/19/20240.3%
Ingevity Corp4.500% 02/01/20260.3%
Lithia Motors Inc4.625% 12/15/20270.3%
Cedar Fair LP / Canada's Wonderland Co / Magnum Ma5.500% 05/01/20250.3%
Popular Inc6.125% 09/14/20230.3%
Chesapeake Energy Corp5.500% 02/01/20260.3%
CHS/Community Health Systems Inc5.625% 03/15/20270.3%
Energy Transfer LP6.500% 11/15/21990.3%
Independence Energy Finance LLC7.250% 05/01/20260.3%
Ally Financial Inc4.700% 08/15/21990.3%
Brazos Delaware II, LLC4.084% 05/21/20250.3%
WASH Multifamily Acquisition Inc5.750% 04/15/20260.3%
NEXSTAR BROADCASTING GROUP2.582% 06/19/20260.3%
Hudson River Trading LLC3.084% 03/19/20280.3%
CrownRock LP / CrownRock Finance Inc5.625% 10/15/20250.3%
NCL Corp Ltd3.625% 12/15/20240.3%
VistaJet Malta Finance PLC / XO Management Holding10.500% 06/01/20240.3%
PHH Mortgage Corp7.875% 03/15/20260.3%
Contura Energy Inc10.000% 06/14/20240.3%
Manitowoc Co Inc/The9.000% 04/01/20260.3%
EQT Corp3.125% 05/15/20260.3%
Callon Petroleum Co6.125% 10/01/20240.3%
Citigroup Inc3.875% 05/18/21990.3%
Citgo Holding Inc9.250% 08/01/20240.3%
Microchip Technology Inc4.250% 09/01/20250.2%
Esdec Solar Group Bv0.000% 08/23/20280.2%
William Carter Co/The5.500% 05/15/20250.2%
STL Holding Co LLC7.500% 02/15/20260.2%
Air Canada3.875% 08/15/20260.2%
Jefferson Capital Holdings LLC6.000% 08/15/20260.2%
Western Digital Corp4.750% 02/15/20260.2%
Murphy Oil Corp6.875% 08/15/20240.2%
Symphony Finance Sub Llc5.500% 08/03/20280.2%
Radian Group Inc4.875% 03/15/20270.2%
Range Resources Corp5.000% 03/15/20230.2%
Uber Technologies Inc8.000% 11/01/20260.2%
Air Methods Corp8.000% 05/15/20250.2%
Solaris Midstream Holdings LLC7.625% 04/01/20260.2%
Sprint Corp7.625% 03/01/20260.2%
JB Poindexter & Co Inc7.125% 04/15/20260.2%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.2%
Nabors Industries Inc9.000% 02/01/20250.2%
Deliver Buyer, Inc. (aka MHS Holdings, Inc.)5.132% 05/01/20240.2%
Sunnova Energy Corp5.875% 09/01/20260.2%
Panera Bread Company0.000% 07/18/20220.2%
Bath & Body Works Inc9.375% 07/01/20250.2%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.2%
Peabody Energy Corp.2.938% 03/31/20250.2%
Ball Corp5.250% 07/01/20250.2%
Heartland Dental, LLC4.888% 04/30/20250.2%
Insulet Corporation3.750% 04/29/20280.2%
CSC Holdings, LLC (Cablevision)2.334% 07/17/20250.2%
Engineered Machinery Hol4.500% 05/21/20280.2%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.2%
DPL Inc4.125% 07/01/20250.2%
Tronox Inc6.500% 05/01/20250.2%
EyeCare Partners LLC3.882% 02/05/20270.2%
Advisor Group, Inc.4.584% 07/31/20260.2%
PDC Energy Inc6.125% 09/15/20240.2%
Hawaiian Airlines 2013-1 Class A Pass Through Cert3.900% 01/15/20260.2%
BCP Raptor II LLC0.000% 10/22/20250.2%
Coronado Finance Pty Ltd10.750% 05/15/20260.2%
PBF Holding Co LLC / PBF Finance Corp9.250% 05/15/20250.2%
NextEra Energy Operating Partners LP3.875% 10/15/20260.2%
Fastlane Parent Company, Inc.4.584% 12/19/20250.2%
GCP Applied Technologies Inc5.500% 04/15/20260.2%
Spirit AeroSystems Inc5.500% 01/15/20250.2%
Terraform Global Operating LLC6.125% 03/01/20260.2%
Team Health Holdings Inc6.375% 02/01/20250.2%
Radiology Partners Inc9.250% 02/01/20280.2%
Guitar Center Inc8.500% 01/15/20260.2%
Select Medical Corp6.250% 08/15/20260.2%
Granite Holdings US Acquisition4.163% 09/30/20260.2%
Alta Equipment Group Inc5.625% 04/15/20260.2%
City Football Group Ltd4.000% 07/08/20280.2%
Macy's Retail Holdings LLC3.625% 06/01/20240.2%
Datadog Inc0.125% 06/15/20250.2%
Radiate Holdco LLC / Radiate Finance Inc4.500% 09/15/20260.2%
Carvana Co5.625% 10/01/20250.2%
Edelman Financial Center4.250% 03/19/20280.2%
Brand Energy & Infrastructure Services, Inc. (fka5.250% 06/21/20240.2%
Calpine Corp5.250% 06/01/20260.2%
FirstEnergy Corp2.050% 03/01/20250.2%
Northriver Midstream Finance LP5.625% 02/15/20260.2%
Granite Construction Inc2.750% 11/01/20240.2%
Magenta Buyer Llc5.750% 04/29/20280.2%
Triumph Group Inc7.750% 08/15/20250.2%
Party City Holdings Inc8.750% 02/15/20260.2%
Aircastle Ltd5.250% 08/11/20250.2%
Resolute Forest Products Inc4.875% 03/01/20260.2%
Renaissance Holding Corp.0.000% 05/30/20250.2%
BEP Ulterra Holdings Inc.5.334% 11/26/20250.2%
RP Escrow Issuer LLC5.250% 12/15/20250.2%
Robertshaw US Holding Corp. (fka Fox US Bidco Corp4.250% 02/28/20250.2%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.2%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.2%
Callon Petroleum Co9.000% 04/01/20250.2%
Newell Brands Inc4.700% 04/01/20260.2%
Sensata Technologies BV5.000% 10/01/20250.2%
PennyMac Financial Services Inc5.375% 10/15/20250.2%
Compass Minerals International, Inc.4.875% 07/15/20240.2%
Array Technologies Inc3.750% 10/07/20270.2%
Arcline Fm Holdings LLC0.000% 06/17/20280.2%
Live Nation Entertainment Inc2.500% 03/15/20230.2%
Alliance Data Systems Corp4.750% 12/15/20240.2%
Aircastle Ltd5.250% 09/15/21990.2%
Prime Security Services Borrower LLC / Prime Finan5.750% 04/15/20260.2%
BFLD 2019-DPLO2.624% 10/15/20340.2%
Square Inc0.125% 03/01/20250.2%
Life Time Inc5.750% 01/15/20260.2%
Bausch Health Americas Inc8.500% 01/31/20270.2%
TripAdvisor Inc7.000% 07/15/20250.2%
Tenneco Inc5.000% 07/15/20260.2%
Synovus Financial Corp0.000% -0.2%
WP CPP Holdings, LLC4.750% 04/30/20250.2%
Royal Caribbean Cruises Ltd11.500% 06/01/20250.2%
Energy Acquisition LP4.349% 06/26/20250.2%
CCM Merger Inc6.375% 05/01/20260.2%
Herbalife Nutrition Ltd / HLF Financing Inc7.875% 09/01/20250.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
Park-Ohio Industries Inc6.625% 04/15/20270.2%
US Renal Care Inc.5.084% 06/13/20260.2%
Miller's Ale House, Inc.4.837% 05/30/20250.2%
Carnival Corp4.000% 08/01/20280.2%
RBC Bearings Inc0.000% 10/15/20240.2%
NIO Inc0.500% 02/01/20270.2%
Astoria Energy LLC4.500% 12/03/20270.2%
Banijay Group US Holding3.833% 02/04/20250.2%
Shift4 Payments LLC / Shift4 Payments Finance Sub4.625% 11/01/20260.2%
Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd8.000% 09/20/20250.2%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.2%
Novavax Inc3.750% 02/01/20230.2%
Kuehg Corp4.750% 02/14/20250.2%
FMG Resources August 2006 Pty Ltd5.125% 05/15/20240.2%
Vue International Bidco4.536% 06/19/20260.2%
Ally Financial Inc5.750% 11/20/20250.2%
Vail Resorts Inc0.000% 01/01/20260.2%
Clark Equipment Co5.875% 06/01/20250.2%
Ovintiv Exploration Inc5.375% 01/01/20260.2%
Brundage-Bone Concrete Pumping Holdings Inc6.000% 02/01/20260.2%
Citigroup Inc5.950% 12/31/20990.2%
PRA Group Inc7.375% 09/01/20250.2%
Plains All American Pipeline L.P.6.125% 12/31/20990.2%
MGM Resorts International5.500% 04/15/20270.2%
Liftoff Mobile Inc0.000% 09/30/20280.2%
Downstream Development Authority of the Quapaw Tri10.500% 02/15/20230.2%
Mohegan Gaming & Entertainment8.000% 02/01/20260.2%
PS Holdco LLC0.000% 09/23/20280.2%
Goodyear Tire & Rubber Co/The9.500% 05/31/20250.1%
Syniverse Holdings, Inc.6.000% 03/09/20230.1%
Great Wolf Trust 2019-WOLF2.017% 12/15/20360.1%
Outfront Media Capital LLC / Outfront Media Capita6.250% 06/15/20250.1%
Natural Resource Partners LP / NRP Finance Corp9.125% 06/30/20250.1%
Antero Resources Corp4.250% 09/01/20260.1%
Nexstar Media Inc5.625% 07/15/20270.1%
XHR LP6.375% 08/15/20250.1%
ViacomCBS Inc0.000% 04/01/20240.1%
LD Holdings Group LLC6.500% 11/01/20250.1%
DexCom Inc0.750% 12/01/20230.1%
Airbnb Inc0.000% 03/15/20260.1%
Motion Finco LLc4.035% 10/17/20260.1%
US Acute Care Solutions LLC6.375% 03/01/20260.1%
Spectacle Gary Holding11.000% 10/17/20240.1%
Texas Capital Bancshares Inc4.000% 05/06/20310.1%
Atlas Air Worldwide Holdings Inc1.875% 06/01/20240.1%
CryoPort Inc3.000% 06/01/20250.1%
Nathan's Famous Inc6.625% 11/01/20250.1%
Snap Inc0.750% 08/01/20260.1%
Rexnord Zurn Holding0.000% 09/15/20280.1%
Grab Holdings Inc5.500% 01/14/20260.1%
Hadrian Merger Sub Inc8.500% 05/01/20260.1%
Nabors Industries Ltd7.250% 01/15/20260.1%
National Mentor Holdings Inc4.500% 02/17/20280.1%
IH Merger Sub LLC3.500% 01/15/20220.1%
Topgolf International, Inc.7.322% 02/09/20260.1%
Sea Ltd2.375% 12/01/20250.1%
Team Health Holdings, Inc.3.750% 02/06/20240.1%
Spring Education Group, Inc.4.382% 07/30/20250.1%
NEP/NCP Holdco Inc8.794% 10/19/20260.1%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.1%
Sabre GLBL Inc9.250% 04/15/20250.1%
Ahern Rentals Inc7.375% 05/15/20230.1%
Global Medical Response Inc6.500% 10/01/20250.1%
Credit Acceptance Corp5.125% 12/31/20240.1%
Buena Vista Gaming Authority13.000% 04/01/20230.1%
Triumph Group Inc8.875% 06/01/20240.1%
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer In2.875% 10/15/20260.1%
Patrick Industries Inc7.500% 10/15/20270.1%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.1%
Ccs-Cmgc Holdings Inc5.584% 10/01/20250.1%
New Gold Inc6.375% 05/15/20250.1%
Mattel Inc3.375% 04/01/20260.1%
Elwood Energy LLC8.159% 07/05/20260.1%
Rising Tide Holdings Inc5.500% 05/26/20280.1%
IRB Holding Corp7.000% 06/15/20250.1%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.1%
Carnival Corp7.625% 03/01/20260.1%
IIP Operating Partnership LP5.500% 05/25/20260.1%
Talen Energy Supply LLC6.500% 06/01/20250.1%
Anastasia Beverly Hills3.882% 08/11/20250.1%
CITGO Petroleum Corp6.375% 06/15/20260.1%
Global Atlantic Fin Co4.700% 10/15/20510.1%
NCL Corp Ltd12.250% 05/15/20240.1%
Wabash National Corp5.500% 10/01/20250.1%
Gibson Brands, Inc5.750% 06/25/20280.1%
Helix Gen Funding, LLC4.750% 06/03/20240.1%
Diamond Sports Group LLC / Diamond Sports Finance5.375% 08/15/20260.1%
Cyxtera DC Holdings, Inc. (fka Colorado Buyer Inc.)4.000% 05/01/20240.1%
Peabody Energy Corp6.375% 03/31/20250.1%
Landry's Restaurants Inc.3.250% 10/04/20230.1%
Raptor Acquisition Corp / Raptor Co-Issuer LLC4.875% 11/01/20260.1%
United States Steel Corp6.250% 03/15/20260.1%
United PF Holdings LLC4.132% 12/30/20260.1%
Livent Corp4.125% 07/15/20250.1%
Chassix Inc6.111% 11/10/20230.1%
Meritage Homes Corp6.000% 06/01/20250.1%
Boyd Corporation3.748% 09/06/20250.1%
ChampionX Corp6.375% 05/01/20260.1%
Everbridge Inc0.125% 12/15/20240.1%
Cinemark USA, Inc.1.840% 03/31/20250.1%
Specialty Building Products Holdings LLC / SBP Fin6.375% 09/30/20260.1%
Legends Hospitality Holding Co LLC / Legends Hospi5.000% 02/01/20260.1%
LFS Topco LLC5.875% 10/15/20260.1%
Ait Worldwide Logistic H5.500% 03/30/20280.1%
Callon Petroleum Co6.375% 07/01/20260.1%
Antero Resources Corp8.375% 07/15/20260.1%
PetVet Care Centers, LLC4.022% 02/14/20250.1%
Venator Finance Sarl / Venator Materials Corp5.750% 07/15/20250.1%
Fogo De Chao Inc6.648% 04/07/20250.1%
Renewable Energy Group Inc5.875% 06/01/20280.1%
Life Time Fitness, Inc.5.750% 12/19/20240.1%
Diamond Sports Group LLC / Diamond Sports Finance6.625% 08/15/20270.1%
Veritas US Inc / Veritas Bermuda Ltd7.500% 09/01/20250.1%
INTRAWEST RESORTS HLDGS INC4.530% 07/31/20240.1%
Messer Industries USA2.684% 09/28/20250.1%
Murphy Oil Corp5.750% 08/15/20250.1%
Scientific Games International, Inc.8.625% 07/01/20250.1%
IIP Operating Partnership LP3.750% 02/21/20240.1%
NMG Holding Co Inc / Neiman Marcus Group LLC7.125% 04/01/20260.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.500% 03/01/20250.1%
Fair Isaac Corp5.250% 05/15/20260.1%
Bentley Systems Inc0.125% 01/15/20260.1%
FX USD/EUR 12/210.000% 12/10/20210.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Avolon Holdings Funding Ltd5.500% 01/15/20260.1%
Transocean Guardian Ltd5.875% 01/15/20240.1%
USIC Holdings, Inc.7.250% 05/07/20290.1%
JetBlue Airways Corp0.500% 04/01/20260.1%
Party City Holdings Inc6.625% 08/01/20260.1%
Great Wolf Trust 2019-WOLF2.816% 12/15/20360.1%
Boyd Gaming Corp8.625% 06/01/20250.1%
Allied Universal Holdco LLC / Allied Universal Fin9.750% 07/15/20270.1%
MGM Resorts International5.750% 06/15/20250.1%
Torrid LLC6.250% 05/21/20280.1%
Buckeye Partners LP3.950% 12/01/20260.1%
Oryx Midstream Services0.000% 09/29/20280.1%
ModivCare Inc5.875% 11/15/20250.1%
Fresh Market Inc/The9.750% 05/01/20230.1%
JP Morgan Chase Commercial Mortgage Securities Tru1.384% 06/15/20320.1%
MongoDB Inc0.250% 01/15/20260.1%
Associated Asphalt Partners, LLC6.250% 04/05/20240.1%
ASP Unifrax Holdings Inc3.882% 11/05/20250.1%
Coty Inc6.500% 04/15/20260.1%
ASURION LLC3.163% 11/03/20240.1%
Ritchie Bros Auctioneers Inc5.375% 01/15/20250.1%
LSF11 A5 Holdco Llc0.000% 09/30/20280.1%
Bulldog Purchaser Inc.3.975% 08/22/20250.1%
Cvent, Inc.3.834% 11/29/20240.1%
Wayfair Inc0.625% 10/01/20250.1%
Scorpio Tankers Inc3.000% 05/15/20250.1%
Sabre GLBL Inc7.375% 09/01/20250.1%
Great Wolf Trust 2019-WOLF1.418% 12/15/20360.1%
Ladder Capital Finance Holdings LLC/Ladder Capital4.250% 02/01/20270.1%
Bob's Discount Furniture, LLC6.250% 08/08/20230.1%
Engineered Components and Systems, LLC6.500% 07/07/20280.1%
Aramark Intermediate HoldCo Corporation2.901% 03/11/20250.1%
United Airlines 2020-1 Class A Pass Through Trust5.875% 10/15/20270.1%
Coty Inc5.000% 04/15/20260.1%
NCL Corp Ltd5.875% 03/15/20260.1%
Staples Inc10.750% 04/15/20270.1%
Sovos Brands Intermediate5.000% 06/02/20280.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp4.250% 05/30/20230.1%
CPI Acquisition Inc8.625% 03/15/20260.1%
Clarios Global LP6.750% 05/15/20250.1%
Caesars Resort Collection LLC / CRC Finco Inc5.750% 07/01/20250.1%
Equinox Holdings Inc.10.000% 03/08/20240.1%
Staples Inc7.500% 04/15/20260.1%
Boxer Parent Co Inc0.000% 03/22/20260.1%
Newell Brands Inc4.875% 06/01/20250.1%
Canopy Growth Corp9.500% 03/18/20260.1%
Uber Technologies Inc7.500% 05/15/20250.1%
Equinox Holdings Inc.4.000% 03/08/20240.1%
Vail Resorts Inc6.250% 05/15/20250.1%
Arcor SAIC6.000% 07/06/20230.1%
Avient Corp5.750% 05/15/20250.1%
MEG Energy Corp6.500% 01/15/20250.1%
Buckeye Partners LP4.125% 03/01/20250.1%
Imperva Inc5.000% 11/20/20250.1%
MGM Resorts International6.750% 05/01/20250.1%
Picasso Finance Sub Inc6.125% 06/15/20250.1%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.500% 04/20/20260.1%
White Cap Parent LLC8.250% 03/15/20260.1%
Refficiency Holdings LLC4.750% 12/10/20270.1%
Transocean Proteus Ltd6.250% 12/01/20240.1%
Transocean Sentry Ltd5.375% 05/15/20230.1%
Centuri Group Inc3.000% 08/18/20280.1%
Rattler Midstream LP5.625% 07/15/20250.1%
Paysafe Ltd3.250% 06/28/20280.1%
KKR Industrial Portfolio Trust 2021-KDIP2.134% 12/15/20370.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.143% 10/05/20310.1%
SSL Robotics LLC9.750% 12/31/20230.1%
KKR Industrial Portfolio Trust 2021-KDIP1.334% 12/15/20370.1%
KKR Industrial Portfolio Trust 2021-KDIP1.634% 12/15/20370.1%
Mohegan Gaming & Entertainment7.875% 10/15/20240.1%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.1%
IRB Holding Corp6.750% 02/15/20260.1%
Air Medical Group Holdings, Inc.6.244% 03/14/20250.1%
Sensata Technologies BV5.625% 11/01/20240.0%
MGM Growth Properties Operating Partnership LP / M4.625% 06/15/20250.0%
Nabors Industries Inc5.750% 02/01/20250.0%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.0%
WOW! (Wide Open West)4.250% 08/18/20230.0%
Caesars Entertainment Inc8.125% 07/01/20270.0%
CD&R Smokey Buyer Inc6.750% 07/15/20250.0%
Trident TPI Holdings Inc9.250% 08/01/20240.0%
Novelis Corp3.250% 11/15/20260.0%
Caleres Inc6.250% 08/15/20230.0%
Engineered Components and Systems, LLC0.000% 07/07/20280.0%
Comstock Resources Inc7.500% 05/15/20250.0%
Motion Finco LLc0.000% 10/17/20260.0%
FX USD/EUR 12/210.000% 12/10/20210.0%
Spectacle Gary Holding11.000% 11/07/20250.0%
National Mentor Holdings Inc3.750% 02/18/20280.0%
National Mentor Holdings Inc4.500% 02/18/20280.0%
Hertz Corp/The0.000% 10/15/20240.0%
Hertz Corp/The0.000% 10/15/20220.0%
Unifrax I LLC0.000% 08/12/20220.0%
Unifrax I LLC0.000% 08/12/20220.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 11/29/2021

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $11.10
$100,000 to $249,999 1.75% 1.50% $11.04
$250,000 to $499,999 1.25% 1.00% $10.99
$500,000 to $999,999 0.00% 1.00% $10.85
$1,000,000 to $5,000,000 0.00% 1.00% $10.85

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 10/31/2021

Expense ratio details, Click here.

Fund Documents

Fund Documents

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*Barron’s Overall Fund Family of 2020,” #7 overall ranking among 53 qualifying fund families based on the net total return of the one-year period ending 12/31/2020. Five-year overall ranking is #4 out of 50 qualifying fund families; and 10-year overall ranking is #21 out of 44 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2020,” February 20, 2021. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2020, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.

© Refinitiv Lipper 2021. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

+

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.      

                    

 

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 investing strategy

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 your 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. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. 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.

 

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 ICE BofA HY U.S. Corp, Cash Pay, BB-B 1-5 YR USD Index consists of BB-B rated U.S. dollar-denominated corporate bonds publicly issued in the U.S. domestic market with maturities of 1 to 5 years.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

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.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

Select funds to run a Morningstar Hypothetical Report.

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