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 05/17/2019  

w/o sales charge 3.54%

30-Day Standardized Yield 2 as of 04/30/2019  

2.66%

Fund Basicsas of 04/30/2019

Total Net Assets
$47.19 B
Inception Date
07/21/2009
Dividend Frequency
Monthly
Fund Expense Ratio
0.89%
Number of Holdings
1678

Fund Expense Ratio :

0.89%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 2.40% 3.64% 2.43% 1.89% 3.62% -
Lipper Category Avg. Short Investment Grade Debt Funds 1.98% 3.19% 1.90% 1.40% 2.58% -
ICE BofAML 1-3 Year U.S. Corporate Index 2.18% 4.13% 2.15% 1.90% 3.31% -

Fund Expense Ratio :

0.89%

Fund Expense Ratio :

0.89%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 1.86% 3.16% 2.51% 1.84% 3.85% -
Lipper Category Avg. Short Investment Grade Debt Funds 1.66% 2.89% 1.95% 1.39% 2.72% -
ICE BofAML 1-3 Year U.S. Corporate Index 1.84% 3.89% 2.18% 1.89% 3.59% -

Fund Expense Ratio :

0.89%

RELATED CONTENT

Gauging the Opportunity in Short Duration Credit
January 28, 2019

Short-term securities such as corporate bonds, ABS, and CMBS, recently offered yields near multi-year highs, with lower volatility than core bonds.

The Appeal of Short Duration Credit in Strategic Cash Management
December 17, 2018

Yields more than compensate cash managers for taking on minimal credit risk.

Volatility Worries? Consider This Diversified Approach to Income
November 26, 2018

A strategic combination of ultra-short and short-term fixed-income securities, along with bank loans, may be an attractive option for income and total return amid market turmoil.

Type Assets
CMBS
ABS
Investment Grade Corporate
High Yield Corporate
Bank Loans
U.S. Government Related
MBS
Sovereign
Other
Cash
Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years

Credit Quality Distribution as of 04/30/2019 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

21 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Supported By 67 Investment Professionals with 15 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 05/17/2019  

w/o sales charge 3.54%

30-Day Standardized Yield 2 as of 04/30/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.66% 2.66%

Fund Expense Ratio :

0.89%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 2.40% 3.64% 2.43% 1.89% 3.62% -
Lipper Category Avg. Short Investment Grade Debt Funds 1.98% 3.19% 1.90% 1.40% 2.58% -
ICE BofAML 1-3 Year U.S. Corporate Index 2.18% 4.13% 2.15% 1.90% 3.31% -

Fund Expense Ratio :

0.89%

Fund Expense Ratio :

0.89%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 1.86% 3.16% 2.51% 1.84% 3.85% -
Lipper Category Avg. Short Investment Grade Debt Funds 1.66% 2.89% 1.95% 1.39% 2.72% -
ICE BofAML 1-3 Year U.S. Corporate Index 1.84% 3.89% 2.18% 1.89% 3.59% -

Fund Expense Ratio :

0.89%

Year Fund Returns ICE BofAML 1-3 Year U.S. Corporate Index
2018 1.17% 1.62%
2017 1.99% 1.91%
2016 3.47% 2.39%
2015 0.37% 1.01%
2014 1.21% 1.19%
2013 1.55% 1.78%
2012 6.11% 4.49%
2011 2.88% 1.76%
2010 6.06% 4.86%
2009 16.79% 14.69%
2008 -1.38% -
2007 5.72% -
2006 3.37% -
2005 0.77% -
2004 1.08% -
2003 1.56% -
2002 7.35% -
2001 6.04% -
2000 8.63% -
1999 2.31% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 1.86% - - - 2.58%
2018 -0.10% 0.19% 0.67% 0.41% 1.17%
2017 0.88% 0.62% 0.60% -0.12% 1.99%
2016 0.94% 1.85% 0.68% -0.03% 3.47%
2015 1.12% 0.22% -0.47% -0.49% 0.37%
2014 0.84% 0.85% -0.23% -0.25% 1.21%
2013 0.84% -0.89% 0.65% 0.95% 1.55%
2012 2.36% 0.50% 2.22% 0.90% 6.11%
2011 1.01% 0.80% -0.69% 1.75% 2.88%
2010 2.15% 1.01% 2.53% 0.25% 6.06%
2009 - 5.48% 4.68% 1.70% 16.79%
2008 - - - - -1.38%
2007 - - - - 5.72%
2006 - - - - 3.37%
2005 - - - - 0.77%
2004 - - - - 1.08%
2003 - - - - 1.56%
2002 - - - - 7.35%
2001 - - - -0.50% 6.04%
2000 - - - - 8.63%
1999 - - - - 2.31%
1998 - - - - 6.04%
1997 - - - - 6.38%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
CMBS
ABS
Investment Grade Corporate
High Yield Corporate
Bank Loans
U.S. Government Related
MBS
Sovereign
Other
Cash
Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years

Credit Quality Distribution as of 04/30/2019

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

Portfolio Positioning as of 03/31/2019

  • The portfolio maintained its diversified exposure to various credit-sensitive sectors of the market beyond the corporate bonds represented in its benchmark, the ICE BofAML 1-3 Year U.S. Corporate Index.
  • Following the increased volatility and spread widening that occurred at the end of 2018, we increased the portfolio’s exposure to investment grade corporate bonds, maintaining a focus on the “BBB” credit tier. As demand for high quality short term corporates increased and spreads tightened, we reduced the allocation capitalizing on the gain, and reallocated to commercial paper and bank loans. Given our fundamental outlook and the market flow environment, we believed investment grade bank loans offered attractive relative value versus investment grade corporate credit.
  • We also increased the portfolio’s allocation to asset-backed securities ("ABS"). We remain attracted to ABS that are backed by auto loans and credit card receivables and believe this area of the market offers relative value and opportunities to capture favorable risk-adjusted spread. In particular, we continue to focus on higher-quality securities and have opportunistically added to slightly longer maturities as spreads have become more attractive.
  • We reduced the portfolio’s allocation to commercial mortgage-backed securities ("CMBS"). While we continue to maintain a positive outlook on the commercial real-estate sector, particularly within single-asset, single-borrower deals, we decreased the portfolio’s exposure in “AAA” rated CMBS in order to take advantage of opportunities in other sectors.

Portfolio Details as of 04/30/2019

Total Net Assets
$47.19 B
Number of Issues
1678
Average Coupon
3.90%
Average Life
2.34 Years
Average Maturity
2.34 Years
Average Effective Duration
1.91 Years