LDLQX | Short Duration Income Fund Class R2 | Lord Abbett

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.

 

Short Duration Income Fund

Track this Fund
Add to Hypo Tool

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 70+ investment professionals in portfolio management, credit research, and trading.

FLEXIBLE APPROACH

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

Average Yield to Maturity as of 08/31/2023

6.54%

30-Day Standardized Yield 1 as of 08/31/2023  

4.89%

Fund Basicsas of 08/31/2023

Total Net Assets
$44.92 B
Inception Date
07/21/2009
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.98%
Fund Net Expense Ratio
0.98%
Number of Holdings
1123

Fund Expense Ratio :

Gross 0.98%

Net 0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/21/2009
w/o sales charge 2.18% 1.50% -0.32% 1.05% 1.39% 2.34%
Lipper Category Avg. Short Investment Grade Debt Funds 2.82% 2.54% -0.11% 1.38% 1.32% -
ICE BofA 1-3 Year U.S. Corporate Index 2.63% 2.58% -0.26% 1.76% 1.71% 2.37%
w/ sales charge 2.18% 1.50% -0.32% 1.05% 1.39% 2.34%

Fund Expense Ratio :

Gross 0.98%

Net 0.98%

Fund Expense Ratio :

Gross 0.98%

Net 0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/21/2009
w/o sales charge 1.20% 0.75% -0.26% 0.97% 1.33% 2.30%
Lipper Category Avg. Short Investment Grade Debt Funds 1.81% 1.85% -0.09% 1.28% 1.23% -
ICE BofA 1-3 Year U.S. Corporate Index 1.62% 1.76% -0.34% 1.69% 1.65% 2.33%

Fund Expense Ratio :

Gross 0.98%

Net 0.98%

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

Credit Quality Distribution as of 08/31/2023 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

25 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

29 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

32 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

15 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

23 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Partner, Portfolio Manager

20 Years of Industry Experience

Supported By 75 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

Average Yield to Maturity as of 08/31/2023

6.54%

30-Day Standardized Yield 1 as of 08/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 4.89% 4.89%

Fund Expense Ratio :

Gross 0.98%

Net 0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/21/2009
w/o sales charge 2.18% 1.50% -0.32% 1.05% 1.39% 2.34%
Lipper Category Avg. Short Investment Grade Debt Funds 2.82% 2.54% -0.11% 1.38% 1.32% -
ICE BofA 1-3 Year U.S. Corporate Index 2.63% 2.58% -0.26% 1.76% 1.71% 2.37%
w/ sales charge 2.18% 1.50% -0.32% 1.05% 1.39% 2.34%

Fund Expense Ratio :

Gross 0.98%

Net 0.98%

Fund Expense Ratio :

Gross 0.98%

Net 0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/21/2009
w/o sales charge 1.20% 0.75% -0.26% 0.97% 1.33% 2.30%
Lipper Category Avg. Short Investment Grade Debt Funds 1.81% 1.85% -0.09% 1.28% 1.23% -
ICE BofA 1-3 Year U.S. Corporate Index 1.62% 1.76% -0.34% 1.69% 1.65% 2.33%

Fund Expense Ratio :

Gross 0.98%

Net 0.98%

Year Fund Returns ICE BofA 1-3 Year U.S. Corporate Index
2022 -5.13% -4.00%
2021 0.73% -0.01%
2020 2.54% 4.16%
2019 5.01% 5.43%
2018 0.83% 1.62%
2017 1.89% 1.91%
2016 3.60% 2.39%
2015 0.04% 1.01%
2014 1.33% 1.19%
2013 1.23% 1.78%
2012 5.99% -
2011 2.97% -
2010 5.95% -
2009 16.51% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 1.47% -0.27% - - 1.98%
2022 -2.87% -1.89% -1.57% 1.15% -5.13%
2021 0.52% 0.50% -0.01% -0.27% 0.73%
2020 -5.28% 5.52% 1.07% 1.50% 2.54%
2019 2.08% 1.56% 0.80% 0.49% 5.01%
2018 -0.13% 0.17% 0.64% 0.15% 0.83%
2017 0.62% 0.59% 0.58% 0.08% 1.89%
2016 1.15% 1.59% 0.88% -0.06% 3.60%
2015 0.87% 0.42% -0.49% -0.75% 0.04%
2014 0.81% 1.05% -0.25% -0.27% 1.33%
2013 0.81% -1.13% 0.85% 0.71% 1.23%
2012 2.10% 0.70% 1.98% 1.09% 5.99%
2011 0.98% 0.99% -0.72% 1.71% 2.97%
2010 2.13% 1.20% 2.28% 0.23% 5.95%
2009 - 5.46% 4.68% 1.50% 16.51%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

Credit Quality Distribution as of 08/31/2023

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

Portfolio Positioning as of 6/30/2023

  • During the quarter, the 2-year U.S. Treasury yield moved higher from 4.06% to 4.87%. The portfolio was modestly long duration relative to the benchmark in May and June as rates rose, which was a headwind to relative performance.
  • The portfolio’s allocation to commercial mortgage-backed securities (CMBS) detracted from relative performance. Although valuations are compelling across the sector, we remain concerned about the potential for deteriorating commercial real estate fundamentals and continue to manage existing positions proactively and accordingly.  As a result, we reduced the portfolio’s overall exposure to CMBS over the period across both fixed and floating rate SASB. We maintained a high bar to add new positions, with a preference for high quality, liquid names.
  • The portfolios allocation to asset-backed securities (ABS) detracted from relative performance. Despite modest spread tightening within short-term ABS, the sector underperformed corporate credit. We continue to favor high-quality ABS within the auto loan and credit card sectors, focusing on newly originated loans with superior underwriting. We reduced the portfolio’s exposure to ABS over the quarter based on relative value opportunities within other sectors, such as investment grade corporate bonds.
  • While the portfolio’s underweight allocation to investment grade corporate bonds modestly detracted from relative performance, security selection within the asset class more than offset this. More specifically, the portfolio’s allocations to both the Financials and Utilities sectors were positive contributors. We remain conservatively positioned in financials, overweight national champions and super regional banks in the U.S. and European banks. The bank debt the portfolio holds is focused on institutions that have strong deposit franchises with robust credit cultures and strong management teams. We increased the portfolio’s exposure to investment grade corporate bonds with a focus on the following sectors: Financials, Utilities, and non-cyclical sectors such as Health Care.
  • The short-term, high yield allocation also contributed to relative performance over the quarter as credit spreads tightened. We continued to reduce the portfolio’s exposure to lower quality corporate bonds over the period. In some instances in which select high yield issues traded tighter than investment grade bonds, we reduced high yield exposure and reinvested the proceeds into higher quality, more defensive, and higher-yielding bonds. Trims of high yield bonds have either fit the theme of being short and too tight or low quality/higher-beta, where we have been able to sell into recent strength.
  • Additionally, the portfolio’s allocation to collateralized loan obligations (CLO) contributed to relative performance. We’re comfortable with the credit profiles of the CLO book given the allocation is very short in maturity, AAA-rated, and exhibits low spread volatility, and therefore relatively insulated from the fragilities of the broader asset class. We continue to be very selective with respect to spread targets when identifying opportunities within the sector. 

Portfolio Details as of 08/31/2023

Total Net Assets
$44.92 B
Average Effective Duration
1.85 Years
Average Life
1.92 Years
Average Maturity
1.92 Years
Number of Issues
1123
Average Yield to Maturity
6.54%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 09/28/2023
$0.10286
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 08/31/2023 $0.01369 $3.82
Daily Daily 07/31/2023 $0.01313 $3.82
Daily Daily 06/30/2023 $0.01342 $3.81
Daily Daily 05/31/2023 $0.01326 $3.84
Daily Daily 04/30/2023 $0.01311 $3.86
Daily Daily 03/31/2023 $0.01277 $3.86
Daily Daily 02/28/2023 $0.01153 $3.84
Daily Daily 01/31/2023 $0.01196 $3.87

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 09/30/2023
Daily Daily 10/31/2023
Daily Daily 11/30/2023
Daily Daily 12/31/2023

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/17/2013 12/18/2013 $0.0056 $0.0005 $0.0061 $4.56

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.98% 0.98%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Fund Story
Publish Date:11/03/2015

To order literature visit full website

You may add to your cart by selecting quantities in each row below.

No rows selected. Please Go back and select at least one fund document

 
Quantity
Quantity
Remove
Remove

Select funds to run a Morningstar Hypothetical Report.

    Please confirm your literature shipping address

    Please review the address information below and make any necessary changes.

    All literature orders will be shipped to the address that you enter below. This information can be edited at any time.

    Current Literature Shipping Address

    * Required field