LDLTX | Short Duration Income Fund Class R5 | Lord Abbett
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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 04/22/2021  

w/o sales charge 2.72%

30-Day Standardized Yield 2 as of 03/31/2021  

1.39%

Fund Basicsas of 03/31/2021

Total Net Assets
$57.91 B
Inception Date
06/30/2015
Dividend Frequency
Monthly
Fund Expense Ratio
0.39%
Number of Holdings
1526

Fund Expense Ratio :

0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 0.68% 9.50% 3.62% 3.26% 3.09% -
Lipper Category Avg. Short Investment Grade Debt Funds 0.02% 6.48% 3.06% 2.43% 1.85% -
ICE BofA 1-3 Year U.S. Corporate Index 0.02% 5.95% 3.86% 2.85% 2.49% -

Fund Expense Ratio :

0.39%

Fund Expense Ratio :

0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 0.68% 9.50% 3.62% 3.26% 3.09% -
Lipper Category Avg. Short Investment Grade Debt Funds 0.02% 6.48% 3.06% 2.43% 1.85% -
ICE BofA 1-3 Year U.S. Corporate Index 0.02% 5.95% 3.86% 2.85% 2.49% -

Fund Expense Ratio :

0.39%

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Type Assets
Investment Grade Corporate
ABS
CMBS
High Yield Corporate
U.S. Government Related
Bank Loans
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 03/31/2021 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 62 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 04/22/2021  

w/o sales charge 2.72%

30-Day Standardized Yield 2 as of 03/31/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.39% 1.39%

Fund Expense Ratio :

0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 0.68% 9.50% 3.62% 3.26% 3.09% -
Lipper Category Avg. Short Investment Grade Debt Funds 0.02% 6.48% 3.06% 2.43% 1.85% -
ICE BofA 1-3 Year U.S. Corporate Index 0.02% 5.95% 3.86% 2.85% 2.49% -

Fund Expense Ratio :

0.39%

Fund Expense Ratio :

0.39%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 0.68% 9.50% 3.62% 3.26% 3.09% -
Lipper Category Avg. Short Investment Grade Debt Funds 0.02% 6.48% 3.06% 2.43% 1.85% -
ICE BofA 1-3 Year U.S. Corporate Index 0.02% 5.95% 3.86% 2.85% 2.49% -

Fund Expense Ratio :

0.39%

Year Fund Returns ICE BofA 1-3 Year U.S. Corporate Index
2020 3.16% 4.16%
2019 5.64% 5.43%
2018 1.43% 1.62%
2017 2.50% 1.91%
2016 3.97% 2.39%
2015 0.85% 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% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 0.68% - - - 0.85%
2020 -5.15% 5.69% 1.22% 1.67% 3.16%
2019 2.23% 1.72% 0.95% 0.64% 5.64%
2018 0.02% 0.31% 0.79% 0.30% 1.43%
2017 0.77% 0.74% 0.73% 0.23% 2.50%
2016 1.05% 1.74% 1.04% 0.09% 3.97%
2015 1.24% 0.34% -0.34% -0.38% 0.85%
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%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
Investment Grade Corporate
ABS
CMBS
High Yield Corporate
U.S. Government Related
Bank Loans
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 03/31/2021

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

Portfolio Positioning as of 12/31/2020

  • Over the quarter, we modestly increased the Fund’s allocation to sovereign debt, as the asset class has significantly lagged domestic credit. In addition, we slightly increased the Fund’s position within bank loans.
  • We decreased the Fund’s allocation within investment grade corporate debt while taking gains on specific issues which had achieved significant spread tightening over the quarter. In addition, despite slightly decreasing the Fund’s market weight in short-term high yield bonds over the quarter, we modestly increased the allocation on a risk-basis and continue to be constructive on the asset class, favoring yield-to-call paper.
  • We feel valuations are fair, though tight relative to historical levels. This is justified by improving economic fundamentals and an abundance of liquidity in the market. Overall, we continue to have a broadly constructive view on credit, and are positioning the portfolio based on relative value, underlying fundamentals, and our top-down view.
  • We are investing in the essential and nonessential industries that are benefitting from a continued reopening of the economy. The magnitude and scale of this global pandemic has accelerated some secular shifts which are likely to remain even with access of the vaccine. 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 03/31/2021

Total Net Assets
$57.91 B
Number of Issues
1526
Average Coupon
2.79%
Average Life
2.21 Years
Average Maturity
2.21 Years
Average Effective Duration
1.93 Years