LLDYX | Short Duration Income Fund Class I | Lord Abbett
Image alt tag

Error!

There was a problem contacting the server. Please try after sometime.

Sorry, we are unable to process your request.

Error!

We're sorry, but the Insights and Intelligence Tool is temporarily unavailable

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Error!

We're sorry, but the Literature Center checkout function is temporarily unavailable.

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Tracked Funds

You have 0 funds on your mutual fund watch list.

Begin by selecting funds to create a personalized watch list.

(as of 12/05/2015)

Pending Orders

You have 0 items in your cart.

Subscribe and order forms, fact sheets, presentations, and other documents that can help advisers grow their business.

Reset Your Password

Financial Professionals*

Your password must be a minimum of characters.

Confirmation Message

Your LordAbbett.com password was successully updated. This page will be refreshed after 3 seconds.

OK

 

Short Duration Income Fund

Summary

Summary

What is the Short Duration Income Fund?

The Fund seeks to deliver a high level of current income consistent with the preservation of capital by investing in a variety of short maturity debt securities including, corporate bonds, U.S. government securities, and mortgage- and other asset-backed debt securities.
 

EXPERIENCED, TENURED TEAM

Managed through collaboration among 40+ investment professionals in portfolio management, credit research, and trading.

STRATEGIC, FLEXIBLE DESIGN

Pursues an agile, multi-sector approach designed to provide a higher yield than a typical short duration strategy, and a lower duration than a traditional core bond strategy.

STRONG PERFORMANCE

Has offered a track record of solid performance in many market environments. 

 

Yield

Dividend Yield 1 as of 07/23/2021  

w/o sales charge 2.55%

30-Day Standardized Yield 2 as of 06/30/2021  

1.19%

Fund Basicsas of 06/30/2021

Total Net Assets
$60.52 B
Inception Date
10/19/2004
Dividend Frequency
Monthly
Fund Expense Ratio
0.39%
Number of Holdings
1485
Minimum Initial Investment
$1,000,000+

Fund Expense Ratio :

0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 1.08% 4.26% 3.64% 2.97% 3.03% 3.97%
Lipper Category Avg. Short Investment Grade Debt Funds 0.47% 2.73% 3.11% 2.30% 1.82% -
ICE BofA 1-3 Year U.S. Corporate Index 0.36% 1.85% 3.82% 2.70% 2.42% 3.24%

Fund Expense Ratio :

0.39%

Fund Expense Ratio :

0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 1.08% 4.26% 3.64% 2.97% 3.03% 3.97%
Lipper Category Avg. Short Investment Grade Debt Funds 0.47% 2.73% 3.11% 2.30% 1.82% -
ICE BofA 1-3 Year U.S. Corporate Index 0.36% 1.85% 3.82% 2.70% 2.42% 3.24%

Fund Expense Ratio :

0.39%

RELATED CONTENT

In a Changing Fixed Income Market, Consider Short Term Credit
May 11, 2020

In our opinion, the U.S. Fed’s response to the pandemic-related economic shock has created potential investment opportunities in short term credit.

Our Answers to Three Key Questions about Short-Term Corporate Credit
April 21, 2020

Lord Abbett experts offer their perspective on the asset class in the context of current economic and market conditions.

Expert Views on Asset-Backed Securities (ABS) in Volatile Markets
April 13, 2020

Lord Abbett investment leaders discuss the current environment for ABS—and how aspects of these securities designed to protect investors might work during an economic downturn.

Type Assets
Investment Grade Corporate
ABS
CMBS
High Yield Corporate
CLO
Bank Loans
U.S. Government Related
MBS
Sovereign
Other
Cash
Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years

Credit Quality Distribution as of 06/30/2021 View Portfolio

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

INVESTMENT TEAM

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

Partner & Portfolio Manager

22 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

20 Years of Industry Experience

Supported By 61 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 07/23/2021  

w/o sales charge 2.55%

30-Day Standardized Yield 2 as of 06/30/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.19% 1.19%

Fund Expense Ratio :

0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 1.08% 4.26% 3.64% 2.97% 3.03% 3.97%
Lipper Category Avg. Short Investment Grade Debt Funds 0.47% 2.73% 3.11% 2.30% 1.82% -
ICE BofA 1-3 Year U.S. Corporate Index 0.36% 1.85% 3.82% 2.70% 2.42% 3.24%

Fund Expense Ratio :

0.39%

Fund Expense Ratio :

0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 1.08% 4.26% 3.64% 2.97% 3.03% 3.97%
Lipper Category Avg. Short Investment Grade Debt Funds 0.47% 2.73% 3.11% 2.30% 1.82% -
ICE BofA 1-3 Year U.S. Corporate Index 0.36% 1.85% 3.82% 2.70% 2.42% 3.24%

Fund Expense Ratio :

0.39%

Year Fund Returns ICE BofA 1-3 Year U.S. Corporate Index
2020 3.15% 4.16%
2019 5.63% 5.43%
2018 1.43% 1.62%
2017 2.73% 1.91%
2016 3.97% 2.39%
2015 0.86% 1.01%
2014 1.70% 1.19%
2013 1.82% 1.78%
2012 6.84% 4.49%
2011 3.35% 1.76%
2010 6.58% -
2009 17.22% -
2008 -0.43% -
2007 6.26% -
2006 3.90% -
2005 1.28% -
2004 0.09% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 0.42% 0.65% - - 1.24%
2020 -5.38% 5.69% 1.47% 1.66% 3.15%
2019 1.98% 1.71% 0.95% 0.88% 5.63%
2018 -0.22% 0.55% 0.55% 0.54% 1.43%
2017 1.00% 0.74% 0.73% 0.23% 2.73%
2016 1.29% 1.74% 0.80% 0.09% 3.97%
2015 1.24% 0.34% -0.35% -0.37% 0.86%
2014 0.96% 0.97% -0.11% -0.13% 1.70%
2013 0.74% -0.78% 1.00% 0.85% 1.82%
2012 2.47% 0.84% 2.13% 1.24% 6.84%
2011 0.90% 1.14% -0.58% 1.86% 3.35%
2010 2.28% 1.13% 2.43% 0.59% 6.58%
2009 4.13% 5.61% 4.72% 1.78% 17.22%
2008 1.21% 1.40% -1.76% -1.24% -0.43%
2007 1.57% 0.18% 2.09% 2.30% 6.26%
2006 0.37% 0.36% 2.28% 0.85% 3.90%
2005 -0.38% 1.46% -0.15% 0.36% 1.28%
2004 - - - - 0.09%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
Investment Grade Corporate
ABS
CMBS
High Yield Corporate
CLO
Bank Loans
U.S. Government Related
MBS
Sovereign
Other
Cash
Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years

Credit Quality Distribution as of 06/30/2021

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

Portfolio Positioning as of 3/31/2021

  • Over the quarter, we added risk exposure to the portfolio’s commercial mortgage-backed securities (CMBS) allocation. We see CMBS as an asset class that will continue to benefit from the ramping up of COVID-19 vaccines and the subsequent reopening of the economy. Within CMBS, we favor single-asset, single-borrower (SASB) issues particularly within hotel, office, and multi-family properties.
  • We also added to the portfolio’s allocation to short-term high yield bonds. We continue to be constructive on the asset class in general and continue to favor yield-to-call paper.
  • We opportunistically added to the portfolio’s investment grade bank loan and collateralized loan obligations (CLO) allocation. A reflationary environment, rising rates, and strong flows into the asset class all are strong tailwinds for bank loans and CLO. Relative to investment grade corporate bonds, investment grade bank loan valuations are attractive. Moreover, we decreased the portfolio’s allocation to investment grade corporate bonds as we believe valuations on specific issues are full.
  • While there are short-term volatility risks stemming from COVID-19, we believe economic fundamentals will have an upward trajectory in 2021 as vaccinations continue to lead to a gradually reopening of the economy and latent demand, dormant services, and consumer spending all begin to normalize to pre-pandemic levels. With the Fed’s new approach to monetary policy, an anchored short end of the yield curve, negative real yields, and very low volatility, the demand for risk can be very strong.

Portfolio Details as of 06/30/2021

Total Net Assets
$60.52 B
Number of Issues
1485
Average Coupon
2.68%
Average Life
2.07 Years
Average Maturity
2.14 Years
Average Effective Duration
1.75 Years