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

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Short Duration High Yield Fund

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Daily price w/o sales charge as of 10/06/2022

$9.46

arrowUp$0.01

YTD Returns w/o sales charge as of 10/06/2022

-7.81%

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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 10/06/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 6.87% 5.57%
w/ sales charge 6.72% 5.45%

30-Day Standardized Yield 2 as of 08/31/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 6.37% 5.60%

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

Expense Ratioas of 09/30/2022

Expense ratio details, Click here.

Fund Basicsas of 08/31/2022

Total Net Assets
$31.08 M
Inception Date
05/01/2020
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
458
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 2.01%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge -9.18% -8.49% - - - 3.70%
Lipper Category Avg. Short High Yield Funds -7.23% -6.72% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD -8.83% -8.14% - - - 3.50%
w/ sales charge -11.25% -10.53% - - - 2.74%

Fund Expense Ratio :

Gross 2.01%

Net 0.71%

Fund Expense Ratio :

Gross 2.01%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge -9.18% -8.49% - - - 3.70%
Lipper Category Avg. Short High Yield Funds -7.23% -6.72% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD -8.83% -8.14% - - - 3.50%
w/ sales charge -11.25% -10.53% - - - 2.74%

Fund Expense Ratio :

Gross 2.01%

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

A Powerful Trend That Could Support U.S. High Yield in 2022
December 6, 2021

We expect a surge in “rising stars”—upgrades of U.S. debt issues from high yield to investment grade—over the next two years.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

21 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

14 Years of Industry Experience

Karen J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

12 Years of Industry Experience

Supported By 71 Investment Professionals with 17 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 10/06/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 6.87% 5.57%
w/ sales charge 6.72% 5.45%

30-Day Standardized Yield 2 as of 08/31/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 6.37% 5.60%

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

Fund Expense Ratio :

Gross 2.01%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge -9.18% -8.49% - - - 3.70%
Lipper Category Avg. Short High Yield Funds -7.23% -6.72% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD -8.83% -8.14% - - - 3.50%
w/ sales charge -11.25% -10.53% - - - 2.74%

Fund Expense Ratio :

Gross 2.01%

Net 0.71%

Fund Expense Ratio :

Gross 2.01%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge -9.18% -8.49% - - - 3.70%
Lipper Category Avg. Short High Yield Funds -7.23% -6.72% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD -8.83% -8.14% - - - 3.50%
w/ sales charge -11.25% -10.53% - - - 2.74%

Fund Expense Ratio :

Gross 2.01%

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
2021 5.53% 4.87%
2020 13.93% 3.85%
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -2.10% -7.68% 0.48% - -7.81%
2021 1.94% 2.01% 0.71% 0.76% 5.53%
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 08/31/2022

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 DETAILS as of 08/31/2022

Total Net Assets
$31.08 M
Number of Issues
458
Average Coupon
5.77%
Average Maturity
4.43 Years
Average Effective Duration
2.51 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
TransDigm Inc 5.500% 11/15/2027 1.5%
Ford Motor Co 4.346% 12/08/2026 1.3%
Ford Motor Co 6.625% 10/01/2028 1.2%
Neuberger Berman Loan Advisers CLO 36 Ltd 9.460% 04/20/2033 1.1%
American Airlines Inc 11.750% 07/15/2025 1.0%
United Airlines Inc 4.375% 04/15/2026 0.9%
Sprint Corp 7.625% 03/01/2026 0.8%
CARLYLE US CLO 2019-3 LTD 5.910% 10/20/2032 0.8%
CIFC Funding 2013-IV Ltd 5.569% 04/27/2031 0.8%
AMMC CLO 24 Ltd 9.280% 01/20/2035 0.7%
% of Total Assets 10.1%
Holding Coupon Maturity Assets
TransDigm Inc5.500% 11/15/20271.5%
Ford Motor Co4.346% 12/08/20261.3%
Ford Motor Co6.625% 10/01/20281.2%
Neuberger Berman Loan Advisers CLO 36 Ltd9.460% 04/20/20331.1%
American Airlines Inc11.750% 07/15/20251.0%
United Airlines Inc4.375% 04/15/20260.9%
Sprint Corp7.625% 03/01/20260.8%
CARLYLE US CLO 2019-3 LTD5.910% 10/20/20320.8%
CIFC Funding 2013-IV Ltd5.569% 04/27/20310.8%
AMMC CLO 24 Ltd9.280% 01/20/20350.7%
Welltec International ApS8.250% 10/15/20260.6%
Tenet Healthcare Corp4.875% 01/01/20260.6%
LCPR Senior Secured Financing DAC6.750% 10/15/20270.6%
Matador Resources Co5.875% 09/15/20260.6%
Caesars Entertainment Inc6.250% 07/01/20250.6%
Berry Petroleum Co LLC7.000% 02/15/20260.6%
PDC Energy Inc5.750% 05/15/20260.6%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.6%
Ford Motor Credit Co LLC3.815% 11/02/20270.6%
Geopark Ltd5.500% 01/17/20270.6%
Oceaneering International Inc4.650% 11/15/20240.6%
Teva Pharmaceutical Finance Netherlands III BV3.150% 10/01/20260.6%
Crescent Energy Finance LLC7.250% 05/01/20260.5%
Univision Communications Inc5.125% 02/15/20250.5%
MEG Energy Corp5.875% 02/01/20290.5%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.250% 03/15/20260.5%
Performance Food Group Inc5.500% 10/15/20270.5%
Chord Energy Corp6.375% 06/01/20260.5%
Delta Air Lines Inc4.375% 04/19/20280.5%
Earthstone Energy Holdings LLC8.000% 04/15/20270.5%
Laredo Petroleum Inc9.500% 01/15/20250.5%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.5%
Tenet Healthcare Corp6.125% 10/01/20280.5%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.5%
Lumen Technologies Inc4.000% 02/15/20270.5%
Range Resources Corp4.875% 05/15/20250.5%
Peabody Energy Corp5.205% 03/31/20250.5%
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp6.000% 08/01/20260.5%
H&E Equipment Services Inc3.875% 12/15/20280.5%
DISH DBS Corp5.875% 11/15/20240.4%
Block Inc2.750% 06/01/20260.4%
Vedanta Resources Ltd6.125% 08/09/20240.4%
Air Canada3.875% 08/15/20260.4%
Western Midstream Operating LP3.950% 06/01/20250.4%
CHS/Community Health Systems Inc5.625% 03/15/20270.4%
Live Nation Entertainment Inc4.750% 10/15/20270.4%
OneMain Finance Corp3.500% 01/15/20270.4%
California Resources Corp7.125% 02/01/20260.4%
W&T Offshore Inc9.750% 11/01/20230.4%
Sirius XM Radio Inc3.125% 09/01/20260.4%
Civitas Resources Inc5.000% 10/15/20260.4%
Forestar Group Inc3.850% 05/15/20260.4%
Hillenbrand Inc5.000% 09/15/20260.4%
American Builders & Contractors Supply Co Inc4.000% 01/15/20280.4%
Gulfport Energy Corp8.000% 05/17/20260.4%
Acadia Healthcare Co Inc5.500% 07/01/20280.4%
CNX Resources Corp7.250% 03/14/20270.4%
Boyd Gaming Corp4.750% 12/01/20270.4%
PTC Inc3.625% 02/15/20250.4%
WASH Multifamily Acquisition Inc5.750% 04/15/20260.4%
Molina Healthcare Inc4.375% 06/15/20280.4%
Sensata Technologies BV5.000% 10/01/20250.4%
Petroleos Mexicanos6.490% 01/23/20270.4%
Standard Industries Inc/NJ5.000% 02/15/20270.4%
Vistra Operations Co LLC5.500% 09/01/20260.4%
Calpine Corp5.125% 03/15/20280.4%
HAT Holdings I LLC / HAT Holdings II LLC6.000% 04/15/20250.4%
Tap Rock Resources LLC7.000% 10/01/20260.4%
CITGO Petroleum Corp6.375% 06/15/20260.4%
MGM Resorts International5.500% 04/15/20270.4%
Goldman Sachs Group Inc/The3.650% 02/10/21710.4%
Marriott Ownership Resorts Inc4.750% 01/15/20280.4%
Nexstar Media Inc5.625% 07/15/20270.4%
Baytex Energy Corp8.750% 04/01/20270.4%
FX USD/EUR 09/220.000% 09/12/20220.4%
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp6.000% 03/01/20270.3%
1011778 BC ULC / New Red Finance Inc3.500% 02/15/20290.3%
Sprint Capital Corp6.875% 11/15/20280.3%
Penn Virginia Holdings LLC9.250% 08/15/20260.3%
Hudbay Minerals Inc4.500% 04/01/20260.3%
FMG Resources August 2006 Pty Ltd4.500% 09/15/20270.3%
Weatherford International Ltd11.000% 12/01/20240.3%
Centennial Resource Production LLC5.375% 01/15/20260.3%
Jefferson Capital Holdings LLC6.000% 08/15/20260.3%
AA Bond Co Ltd6.500% 01/31/20260.3%
Granite US Holdings Corp11.000% 10/01/20270.3%
Netflix Inc3.625% 06/15/20250.3%
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp7.500% 05/01/20250.3%
EnerSys4.375% 12/15/20270.3%
Alta Equipment Group Inc5.625% 04/15/20260.3%
Talen Energy Supply LLC6.500% 06/01/20250.3%
Canary Wharf Group Investment Holdings PLC3.375% 04/23/20280.3%
PeopleCert Wisdom Issuer PLC5.750% 09/15/20260.3%
Virgin Media Vendor Financing Notes III DAC4.875% 07/15/20280.3%
Pinewood Finance Co Ltd3.625% 11/15/20270.3%
MHP SE7.750% 05/10/20240.3%
AMC Networks Inc4.750% 08/01/20250.3%
Navient Corp6.750% 06/15/20260.3%
VICI Properties LP / VICI Note Co Inc3.500% 02/15/20250.3%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.500% 04/20/20260.3%
Northriver Midstream Finance LP5.625% 02/15/20260.3%
SBA Communications Corp3.875% 02/15/20270.3%
Banijay Entertainment SASU3.500% 03/01/20250.3%
Griffon Corp5.750% 03/01/20280.3%
JP Morgan Chase Commercial Mortgage Securities Trust 2021-14406.241% 03/15/20360.3%
Pinnacle Bidco PLC5.500% 02/15/20250.3%
Science Applications International Corp4.875% 04/01/20280.3%
Starwood Property Trust Inc4.375% 01/15/20270.3%
Stena International SA3.750% 02/01/20250.3%
IPD 3 BV5.500% 12/01/20250.3%
Bombardier Inc6.000% 02/15/20280.3%
General Electric Co5.159% 06/15/21710.3%
SRS Distribution Inc4.625% 07/01/20280.3%
Liberty Mutual Group Inc3.625% 05/23/20590.3%
OneMain Finance Corp8.250% 10/01/20230.3%
ATS Automation Tooling Systems Inc4.125% 12/15/20280.3%
Prime Security Services Borrower LLC / Prime Finance Inc3.375% 08/31/20270.3%
LABL Inc6.750% 07/15/20260.3%
Beacon Roofing Supply Inc4.500% 11/15/20260.3%
Golden Goose SpA5.196% 05/14/20270.3%
Silgan Holdings Inc4.125% 02/01/20280.3%
Maxar Technologies Inc7.750% 06/15/20270.3%
Kernel Holding SA6.500% 10/17/20240.3%
TerraForm Power Operating LLC5.000% 01/31/20280.3%
Chassix Inc7.563% 11/15/20230.3%
Cullinan Holdco Scsp4.625% 10/15/20260.3%
Quikrete Holdings Inc5.149% 02/01/20270.3%
Madison IAQ LLC4.125% 06/30/20280.3%
Novelis Corp3.250% 11/15/20260.3%
Cellnex Telecom SA1.000% 04/20/20270.3%
Grifols SA2.250% 11/15/20270.3%
MGM Resorts International4.750% 10/15/20280.3%
iQIYI Inc2.000% 04/01/20250.3%
Fortress Transportation and Infrastructure Investors LLC6.500% 10/01/20250.3%
Natural Resource Partners LP / NRP Finance Corp9.125% 06/30/20250.3%
Sunnova Energy Corp5.875% 09/01/20260.3%
Caesars Entertainment Inc8.125% 07/01/20270.3%
Callon Petroleum Co6.375% 07/01/20260.3%
Brinker International Inc5.000% 10/01/20240.3%
Starwood Property Trust Inc3.750% 12/31/20240.3%
Cytokinetics Inc3.500% 07/01/20270.3%
Navient Corp5.875% 10/25/20240.3%
Directv Financing LLC / Directv Financing Co-Obligor Inc5.875% 08/15/20270.3%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer4.250% 10/15/20270.3%
VistaJet Malta Finance PLC / XO Management Holding Inc7.875% 05/01/20270.3%
Berry Global Inc4.875% 07/15/20260.2%
CCO Holdings LLC / CCO Holdings Capital Corp5.125% 05/01/20270.2%
Travel + Leisure Co6.625% 07/31/20260.2%
Option Care Health Inc4.375% 10/31/20290.2%
PBF Holding Co LLC / PBF Finance Corp7.250% 06/15/20250.2%
EnQuest PLC7.000% 10/15/20230.2%
LSB Industries Inc6.250% 10/15/20280.2%
Clear Channel Outdoor Holdings Inc5.125% 08/15/20270.2%
Centene Corp2.450% 07/15/20280.2%
Coronado Finance Pty Ltd10.750% 05/15/20260.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
DISH DBS Corp5.250% 12/01/20260.2%
Citgo Holding Inc9.250% 08/01/20240.2%
Colgate Energy Partners III LLC7.750% 02/15/20260.2%
Lithia Motors Inc4.625% 12/15/20270.2%
AG TTMT Escrow Issuer LLC8.625% 09/30/20270.2%
CQP HOLDCO LP6.000% 06/05/20280.2%
Bread Financial Holdings Inc4.750% 12/15/20240.2%
XHR LP6.375% 08/15/20250.2%
EnLink Midstream LLC5.625% 01/15/20280.2%
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc2.875% 10/15/20260.2%
AMN Healthcare Inc4.625% 10/01/20270.2%
United Rentals North America Inc4.875% 01/15/20280.2%
Penske Automotive Group Inc3.500% 09/01/20250.2%
Hecla Mining Co7.250% 02/15/20280.2%
Service Properties Trust7.500% 09/15/20250.2%
Citigroup Inc3.875% 05/18/21710.2%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC4.625% 01/15/20270.2%
JB Poindexter & Co Inc7.125% 04/15/20260.2%
CROCS INC4.030% 02/17/20290.2%
Cengage Learning Inc7.814% 07/14/20260.2%
Iron Mountain Inc4.875% 09/15/20270.2%
Eco Material Technologies Inc7.875% 01/31/20270.2%
Advisor Group Holdings Inc10.750% 08/01/20270.2%
CCO Holdings LLC / CCO Holdings Capital Corp5.375% 06/01/20290.2%
Asurion LLC0.000% 12/23/20260.2%
CITGO Petroleum Corp7.000% 06/15/20250.2%
Vermilion Energy Inc5.625% 03/15/20250.2%
Buckeye Partners LP3.950% 12/01/20260.2%
CONSOL Energy Inc11.000% 11/15/20250.2%
AECOM5.125% 03/15/20270.2%
Mohegan Gaming & Entertainment8.000% 02/01/20260.2%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.2%
Radian Group Inc4.875% 03/15/20270.2%
Mercer International Inc5.500% 01/15/20260.2%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.2%
Manitowoc Co Inc/The9.000% 04/01/20260.2%
JPMorgan Chase & Co4.000% 10/01/21700.2%
DISH DBS Corp7.750% 07/01/20260.2%
Darling Ingredients Inc5.250% 04/15/20270.2%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.2%
Century Communities Inc6.750% 06/01/20270.2%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.2%
Select Medical Corp6.250% 08/15/20260.2%
Prime Security Services Borrower LLC / Prime Finance Inc5.750% 04/15/20260.2%
EQM Midstream Partners LP4.125% 12/01/20260.2%
Calpine Corp5.250% 06/01/20260.2%
Fastlane Parent Co Inc7.024% 02/04/20260.2%
Taylor Morrison Communities Inc5.875% 06/15/20270.2%
National Mentor Holdings Inc6.010% 03/02/20280.2%
Storable Inc5.554% 04/17/20280.2%
Birkenstock US BidCo Inc5.098% 04/28/20280.2%
Legends Hospitality Holding Co LLC / Legends Hospitality Co-Issuer Inc5.000% 02/01/20260.2%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp5.250% 10/01/20250.2%
Helix Gen Funding LLC6.274% 06/03/20240.2%
USA Compression Partners LP / USA Compression Finance Corp6.875% 04/01/20260.2%
BEP Ulterra Holdings Inc7.774% 11/26/20250.2%
Verscend Escrow Corp9.750% 08/15/20260.2%
Tri Pointe Homes Inc5.250% 06/01/20270.2%
Post Holdings Inc5.625% 01/15/20280.2%
Solaris Midstream Holdings LLC7.625% 04/01/20260.2%
Antero Resources Corp4.250% 09/01/20260.2%
Vistra Corp7.000% 06/15/21710.2%
Hawaiian Airlines 2013-1 Class A Pass Through Certificates3.900% 07/15/20270.2%
SunCoke Energy Inc4.875% 06/30/20290.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
ACProducts Holdings Inc6.482% 05/17/20280.2%
Las Vegas Sands Corp3.500% 08/18/20260.2%
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer5.875% 10/01/20280.2%
Navient Corp6.750% 06/25/20250.2%
Nordstrom Inc4.000% 03/15/20270.2%
Calumet Specialty Products Partners LP / Calumet Finance Corp8.125% 01/15/20270.2%
Hightower Holding LLC6.732% 04/21/20280.2%
Wells Fargo & Co3.900% 03/15/21710.2%
Chesapeake Energy Corp5.500% 02/01/20260.2%
Tiger Acquisition LLC5.774% 06/01/20280.2%
Foundation Building Materials Inc4.489% 01/31/20280.2%
McAfee Corp6.157% 03/01/20290.2%
Oscar Acquisitionco LLC6.109% 04/29/20290.2%
AVSC Holding Corp0.250% 03/03/20250.2%
Kestrel Acquisition LLC6.780% 06/02/20250.2%
Hertz Corp/The4.625% 12/01/20260.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
Perforce Software Inc6.274% 07/01/20260.2%
Gray Television Inc7.000% 05/15/20270.2%
Liberty Mutual Group Inc4.125% 12/15/20510.2%
Exterran Energy Solutions LP / EES Finance Corp8.125% 05/01/20250.2%
EMPLOYBRIDGE LLC7.000% 07/19/20280.2%
OneMain Finance Corp4.000% 09/15/20300.2%
White Cap Buyer LLC6.875% 10/15/20280.2%
GTCR AP Finance Inc8.000% 05/15/20270.2%
Astoria Energy LLC6.024% 12/10/20270.2%
SeaWorld Parks & Entertainment Inc5.563% 08/25/20280.2%
CENTURI GROUP INC4.075% 08/27/20280.2%
Core & Main LP4.319% 07/27/20280.2%
M/I Homes Inc4.950% 02/01/20280.2%
Tenet Healthcare Corp6.250% 02/01/20270.2%
Avis Budget Car Rental LLC4.280% 08/06/20270.2%
Grifols Worldwide Operations USA Inc4.524% 11/15/20270.2%
Lamb Weston Holdings Inc4.875% 05/15/20280.2%
NOVA Chemicals Corp4.875% 06/01/20240.2%
Booz Allen Hamilton Inc3.875% 09/01/20280.2%
PHYSICIAN PARTNERS LLC6.555% 12/23/20280.2%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.2%
DTI Holdco Inc10.327% 04/26/20290.2%
NCR Corp5.000% 10/01/20280.2%
DEXKO GLOBAL INC5.982% 10/04/20280.2%
Global Medical Response Inc6.500% 10/01/20250.2%
SPX FLOW INC.7.055% 04/05/20290.2%
VICI Properties LP / VICI Note Co Inc4.250% 12/01/20260.2%
Warrior Met Coal Inc7.875% 12/01/20280.2%
Eyecare Partners LLC6.000% 11/15/20280.2%
Twitter Inc3.875% 12/15/20270.2%
Colgate Energy Partners III LLC5.875% 07/01/20290.2%
PennyMac Financial Services Inc5.375% 10/15/20250.2%
Full House Resorts Inc8.250% 02/15/20280.2%
Bread Financial Holdings Inc7.000% 01/15/20260.2%
BCPE Empire Holdings Inc7.625% 05/01/20270.1%
Penn Entertainment Inc5.625% 01/15/20270.1%
PROJECT CASTLE INC6.900% 06/01/20290.1%
Park River Holdings Inc5.527% 12/28/20270.1%
Iris Holding Inc10.000% 12/15/20280.1%
NEP Group Inc9.524% 10/19/20260.1%
Truck Hero Inc6.024% 01/31/20280.1%
Service Properties Trust4.350% 10/01/20240.1%
B&G Foods Inc5.250% 04/01/20250.1%
United States Steel Corp6.875% 03/01/20290.1%
Morgan Stanley5.300% 03/15/21710.1%
Hadrian Merger Sub Inc8.500% 05/01/20260.1%
ZoomInfo Technologies LLC/ZoomInfo Finance Corp3.875% 02/01/20290.1%
Pinduoduo Inc0.000% 12/01/20250.1%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp4.250% 02/01/20270.1%
Buckeye Partners LP6.375% 01/22/20780.1%
Century Communities Inc3.875% 08/15/20290.1%
FX USD/GBP 09/220.000% 09/08/20220.1%
Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.1%
Pike Corp5.500% 09/01/20280.1%
Pactiv LLC7.950% 12/15/20250.1%
BCPE Ulysses Intermediate Inc7.750% 04/01/20270.1%
LFS Topco LLC5.875% 10/15/20260.1%
Lindblad Expeditions LLC6.750% 02/15/20270.1%
Specialty Building Products Holdings LLC / SBP Finance Corp6.375% 09/30/20260.1%
AMC Entertainment Holdings Inc12.000% 06/15/20260.1%
AthenaHealth Group Inc5.800% 02/15/20290.1%
Cogent Communications Group Inc3.500% 05/01/20260.1%
Cinemark USA Inc5.250% 07/15/20280.1%
Air Methods Corp8.000% 05/15/20250.1%
Nabors Industries Inc9.000% 02/01/20250.1%
Buckeye Partners LP4.125% 03/01/20250.1%
Vodafone Group PLC3.250% 06/04/20810.1%
Cubic Corp7.320% 05/25/20280.1%
VUE INTERNATIONAL BIDCO PLC0.000% 07/03/20260.1%
Cerevel Therapeutics Holdings Inc2.500% 08/15/20270.1%
CMG Media Corp6.024% 12/17/20260.1%
Sylvamo Corp7.024% 09/13/20280.1%
Amneal Pharmaceuticals LLC5.813% 05/04/20250.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Cheniere Energy Partners LP4.500% 10/01/20290.1%
Kenan Advantage Group Inc/The6.274% 03/24/20260.1%
ASP Unifrax Holdings Inc5.250% 09/30/20280.1%
Fluor Corp4.250% 09/15/20280.1%
Allegiant Travel Co7.250% 08/15/20270.1%
VICI Properties LP / VICI Note Co Inc5.625% 05/01/20240.1%
Park River Holdings Inc5.625% 02/01/20290.1%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.1%
DPL Inc4.350% 04/15/20290.1%
YPF Energia Electrica SA10.000% 07/25/20260.1%
Gibson Brands Inc7.387% 08/11/20280.1%
Ingevity Corp3.875% 11/01/20280.1%
HUB International Ltd7.000% 05/01/20260.1%
Sarepta Therapeutics Inc1.500% 11/15/20240.1%
Murphy Oil Corp6.375% 07/15/20280.1%
Vistra Corp8.000% 04/15/21710.1%
Fly Leasing Ltd7.000% 10/15/20240.1%
Spirit AeroSystems Inc5.500% 01/15/20250.1%
Bleriot US Bidco Inc6.250% 10/31/20260.1%
Global Atlantic Fin Co4.700% 10/15/20510.1%
Trident TPI Holdings Inc9.250% 08/01/20240.1%
Freeport LNG Investments LLLP6.210% 12/21/20280.1%
Sabre GLBL Inc9.250% 04/15/20250.1%
NextEra Energy Operating Partners LP3.875% 10/15/20260.1%
American Airlines Group Inc3.750% 03/01/20250.1%
SEG Holding LLC / SEG Finance Corp5.625% 10/15/20280.1%
CommScope Inc7.125% 07/01/20280.1%
SRM Escrow Issuer LLC6.000% 11/01/20280.1%
Taseko Mines Ltd7.000% 02/15/20260.1%
Cengage Learning Inc9.500% 06/15/20240.1%
Cinemark USA Inc5.875% 03/15/20260.1%
Icebox Holdco III Inc6.000% 12/22/20280.1%
Bristow Group Inc6.875% 03/01/20280.1%
1011778 BC ULC / New Red Finance Inc4.375% 01/15/20280.1%
Sabre GLBL Inc6.024% 12/17/20270.1%
VICI Properties LP / VICI Note Co Inc3.750% 02/15/20270.1%
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc5.000% 06/01/20290.1%
Shift4 Payments LLC / Shift4 Payments Finance Sub Inc4.625% 11/01/20260.1%
Nexstar Media Inc4.750% 11/01/20280.1%
Sabre GLBL Inc7.555% 06/30/20280.1%
Titan International Inc7.000% 04/30/20280.1%
BFLD 2019-DPLO4.931% 10/15/20340.1%
Life Time Inc5.750% 01/15/20260.1%
Shake Shack Inc0.000% 03/01/20280.1%
Caesars Resort Collection LLC / CRC Finco Inc5.750% 07/01/20250.1%
Venture Global Calcasieu Pass LLC3.875% 08/15/20290.1%
Nabors Industries Inc5.750% 02/01/20250.1%
Compass Minerals International Inc4.875% 07/15/20240.1%
SS&C Technologies Inc5.500% 09/30/20270.1%
PARKWAY GENERATION LLC7.274% 02/18/20290.1%
Entegris Escrow Corp4.750% 04/15/20290.1%
Kobe US Midco 2 Inc9.250% 11/01/20260.1%
Rite Aid Corp8.000% 11/15/20260.1%
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp4.875% 04/01/20270.1%
Enova International Inc8.500% 09/15/20250.1%
National CineMedia LLC5.875% 04/15/20280.1%
Synovus Financial Corp0.000% -0.1%
Southwestern Energy Co5.375% 02/01/20290.1%
Tyler Technologies Inc0.250% 03/15/20260.1%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
Liberty Media Corp-Liberty Formula One2.250% 08/15/20270.1%
Citigroup Inc5.950% 07/30/21710.1%
Imola Merger Corp4.750% 05/15/20290.1%
Boyne USA Inc4.750% 05/15/20290.1%
RIVERBED TECHNOLOGY INC2.000% 12/07/20260.1%
Great Wolf Trust 2019-WOLF4.324% 12/15/20360.1%
Maravai Intermediate Holdings LLC5.553% 10/19/20270.1%
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp7.750% 04/15/20250.1%
Carnival Corp4.000% 08/01/20280.1%
SM Energy Co6.625% 01/15/20270.1%
Weatherford International Ltd6.500% 09/15/20280.1%
Ken Garff Automotive LLC4.875% 09/15/20280.1%
Meritage Homes Corp5.125% 06/06/20270.1%
Oregon Clean Energy LLC6.274% 03/01/20260.1%
US Acute Care Solutions LLC6.375% 03/01/20260.1%
Booz Allen Hamilton Inc4.000% 07/01/20290.1%
CPV Shore Holdings LLC6.280% 12/29/20250.1%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.1%
Texas Capital Bancshares Inc4.000% 05/06/20310.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc4.750% 04/30/20270.1%
SCIH Salt Holdings Inc4.875% 05/01/20280.1%
Buena Vista Gaming Authority13.000% 04/01/20230.1%
Travel Leaders Group LLC6.524% 01/25/20240.1%
Carriage Purchaser Inc7.875% 10/15/20290.1%
Sabre GLBL Inc6.024% 12/17/20270.1%
Nabors Industries Inc7.375% 05/15/20270.1%
Tank Holding Corp8.305% 03/31/20280.1%
Magenta Buyer LLC7.250% 07/27/20280.1%
Peabody Energy Corp6.375% 03/31/20250.1%
Ahern Rentals Inc7.375% 05/15/20230.1%
Party City Holdings Inc8.750% 02/15/20260.1%
Nathan's Famous Inc6.625% 11/01/20250.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.500% 03/01/20250.1%
Great Wolf Trust 2019-WOLF5.123% 12/15/20360.1%
Engineered Components & Systems LLC8.380% 08/02/20280.1%
Precision Drilling Corp7.125% 01/15/20260.1%
USIC Holdings Inc9.024% 05/14/20290.0%
Bulldog Purchaser Inc6.305% 09/05/20250.0%
Great Wolf Trust 2019-WOLF3.725% 12/15/20360.0%
Sabre GLBL Inc7.375% 09/01/20250.0%
Elwood Energy LLC8.159% 07/05/20260.0%
US 5YR NOTE (CBT) Dec220.000% 01/05/20230.0%
Party City Holdings Inc6.125% 08/15/20230.0%
Equinox Holdings Inc11.250% 03/08/20240.0%
Baffinland Iron Mines Corp / Baffinland Iron Mines LP8.750% 07/15/20260.0%
LBM Acquisition LLC6.250% 01/15/20290.0%
CANOPY GROWTH CORPORATION11.248% 03/18/20260.0%
Party City Holdings Inc6.625% 08/01/20260.0%
Cubic Corp7.320% 05/25/20280.0%
KKR Industrial Portfolio Trust 2021-KDIP3.641% 12/15/20370.0%
KKR Industrial Portfolio Trust 2021-KDIP3.941% 12/15/20370.0%
KKR Industrial Portfolio Trust 2021-KDIP4.441% 12/15/20370.0%
Anastasia Parent LLC6.000% 08/11/20250.0%
FX USD/GBP 09/220.000% 09/08/20220.0%
SCP Eye Care Services LLC6.750% 03/16/20280.0%
PARKWAY GENERATION LLC7.274% 02/18/20290.0%
FX USD/EUR 09/220.000% 09/12/20220.0%
FX USD/EUR 09/220.000% 09/12/20220.0%
National Mentor Holdings Inc6.010% 03/02/20280.0%
FX USD/EUR 09/220.000% 09/12/20220.0%
SCP Eye Care Services LLC0.045% 03/16/20280.0%
FX USD/EUR 09/220.000% 09/12/20220.0%
ESC GCB144A HERTZ CORP5.500% 10/15/20240.0%
Lightstone Holdco LLC8.051% 02/01/20270.0%
ESC GCB HERTZ CORP6.250% 10/15/20220.0%
FX EUR/USD 09/220.000% 09/12/20220.0%
LSCS HOLDINGS INC.6.750% 12/16/20280.0%
Peraton Corp6.274% 02/01/20280.0%
FX GBP/USD 09/220.000% 09/08/20220.0%
AthenaHealth Group Inc0.035% 02/15/20290.0%
Icebox Holdco III Inc0.038% 12/22/20280.0%
FX EUR/USD 09/220.000% 09/12/20220.0%
FX GBP/USD 09/220.000% 09/08/20220.0%
FX EUR/USD 09/220.000% 09/12/20220.0%
FX GBP/USD 09/220.000% 09/08/20220.0%
FX EUR/USD 09/220.000% 09/12/20220.0%
FX EUR/USD 09/220.000% 09/12/20220.0%
FX EUR/USD 09/220.000% 09/12/20220.0%
FX EUR/USD 09/220.000% 09/12/20220.0%
FX GBP/USD 09/220.000% 09/08/20220.0%
FX GBP/USD 09/220.000% 09/08/20220.0%
US 2YR NOTE (CBT) Dec220.000% 01/05/20230.0%
CPI Swap0.010% 05/12/20520.0%
CPI Swap0.010% 05/12/20520.0%
FX EUR/USD 09/220.000% 09/12/2022-0.1%
Credit Index Swap5.000% 06/20/2027-0.1%

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 10/06/2022

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $9.68
$100,000 to $249,999 1.75% 1.50% $9.63
$250,000 to $499,999 1.25% 1.00% $9.58
$500,000 to $999,999 0.00% 1.00% $9.46
$1,000,000 to $5,000,000 0.00% 1.00% $9.46

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 View Full Disclosure

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 09/30/2022

Expense ratio details, Click here.

Fund Documents

Fund Documents

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*"Barron's Best Fund Families of 2021", #4 ranking in the Taxable Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families. Ranking for the ten-year period ending 12/31/2021 is #2 out of 45 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2021,” February 18, 2022. 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, 2021, 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 2022. 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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