LALDX | Short Duration Income Fund Class A | Lord Abbett

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Short Duration Income Fund

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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

Dividend Yield 1 as of 06/24/2022  

w/o sales charge 2.81%
w/ sales charge 2.75%

30-Day Standardized Yield 2 as of 05/31/2022  

2.63%

Expense Ratioas of 05/31/2022

Fund Basicsas of 05/31/2022

Total Net Assets
$56.90 B
Inception Date
11/04/1993
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
1353
Minimum Initial Investment
$1,500+
 
Inflation Resource Center

Flexible Fixed-Income Solutions for a Number of Market Outcomes

In today's market environment, many are focused on the potential investment implications of rising inflation. While Lord Abbett's experts say they don't think now is the time to make drastic changes to a portfolio, this Reource Center provides thoughtful insights and potential solutions for a number of situation-based outcomes.

Learn More

 

 

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 11/04/1993
w/o sales charge -3.30% -3.20% 0.98% 1.64% 2.14% 3.80%
Lipper Category Avg. Short Investment Grade Debt Funds -3.26% -3.63% 0.73% 1.24% 1.30% -
ICE BofA 1-3 Year U.S. Corporate Index -3.31% -3.74% 1.10% 1.67% 1.85% 4.13%
w/ sales charge -5.57% -5.44% 0.19% 1.17% 1.89% 3.72%

Fund Expense Ratio :

0.58%

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 11/04/1993
w/o sales charge -2.78% -2.04% 1.46% 1.87% 2.19% 3.84%
Lipper Category Avg. Short Investment Grade Debt Funds -2.64% -2.58% 1.23% 1.47% 1.38% -
ICE BofA 1-3 Year U.S. Corporate Index -3.16% -3.18% 1.45% 1.80% 1.87% 4.16%
w/ sales charge -5.06% -4.32% 0.66% 1.40% 1.95% 3.76%

Fund Expense Ratio :

0.58%

RELATED CONTENT

Podcast: Addressing a Core Issue for Fixed-Income Investors
October 26, 2021

In this podcast, investment strategist Joseph Graham discusses why investors may wish to rethink their current allocations to core bonds

Type Assets
Investment Grade Corporate
CMBS
ABS
High Yield Corporate
Bank Loans
CLO
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 05/31/2022 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

24 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

28 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

21 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

31 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

14 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

22 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Managing Director, Portfolio Manager

19 Years of Industry Experience

Supported By 71 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 06/24/2022  

w/o sales charge 2.81%
w/ sales charge 2.75%

30-Day Standardized Yield 2 as of 05/31/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.63% 2.63%

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 11/04/1993
w/o sales charge -3.30% -3.20% 0.98% 1.64% 2.14% 3.80%
Lipper Category Avg. Short Investment Grade Debt Funds -3.26% -3.63% 0.73% 1.24% 1.30% -
ICE BofA 1-3 Year U.S. Corporate Index -3.31% -3.74% 1.10% 1.67% 1.85% 4.13%
w/ sales charge -5.57% -5.44% 0.19% 1.17% 1.89% 3.72%

Fund Expense Ratio :

0.58%

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 11/04/1993
w/o sales charge -2.78% -2.04% 1.46% 1.87% 2.19% 3.84%
Lipper Category Avg. Short Investment Grade Debt Funds -2.64% -2.58% 1.23% 1.47% 1.38% -
ICE BofA 1-3 Year U.S. Corporate Index -3.16% -3.18% 1.45% 1.80% 1.87% 4.16%
w/ sales charge -5.06% -4.32% 0.66% 1.40% 1.95% 3.76%

Fund Expense Ratio :

0.58%

Year Fund Returns ICE BofA 1-3 Year U.S. Corporate Index
2021 1.13% -0.01%
2020 2.95% 4.16%
2019 5.42% 5.43%
2018 1.23% 1.62%
2017 2.29% 1.91%
2016 4.01% 2.39%
2015 0.43% 1.01%
2014 1.73% 1.19%
2013 1.62% 1.78%
2012 6.64% 4.49%
2011 3.16% -
2010 6.38% -
2009 16.97% -
2008 -1.09% -
2007 5.89% -
2006 3.54% -
2005 0.92% -
2004 1.18% -
2003 1.79% -
2002 7.60% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -2.78% - - - -4.57%
2021 0.38% 0.84% 0.09% -0.17% 1.13%
2020 -5.42% 5.89% 1.17% 1.60% 2.95%
2019 2.17% 1.66% 0.66% 0.83% 5.42%
2018 -0.03% 0.26% 0.74% 0.25% 1.23%
2017 0.72% 0.69% 0.68% 0.18% 2.29%
2016 1.24% 1.69% 0.98% 0.04% 4.01%
2015 0.97% 0.52% -0.40% -0.65% 0.43%
2014 0.91% 1.15% -0.15% -0.17% 1.73%
2013 0.69% -0.82% 0.95% 0.81% 1.62%
2012 2.43% 0.79% 2.08% 1.19% 6.64%
2011 1.08% 1.09% -0.84% 1.81% 3.16%
2010 2.24% 1.08% 2.60% 0.33% 6.38%
2009 4.07% 5.55% 4.90% 1.51% 16.97%
2008 1.13% 0.93% -1.59% -1.53% -1.09%
2007 1.48% 0.09% 2.00% 2.21% 5.89%
2006 0.28% 0.27% 2.19% 0.76% 3.54%
2005 -0.47% 1.37% -0.24% 0.27% 0.92%
2004 1.43% -2.02% 1.66% 0.15% 1.18%
2003 0.83% 1.04% -0.31% 0.23% 1.79%
2002 0.39% 2.64% 3.25% 1.13% 7.60%
2001 2.35% 0.94% 3.51% -0.39% 6.54%
2000 1.63% 2.09% 2.48% 2.67% 9.18%
1999 0.89% 0.45% 0.97% 0.50% 2.81%
1998 1.15% 1.60% 3.44% 0.25% 6.56%
1997 0.03% 2.40% 2.40% 1.92% 6.90%
1996 -1.22% -0.43% 1.01% 1.96% 1.30%
1995 3.33% 2.82% 1.24% 2.37% 10.11%
1994 -2.85% -1.16% 0.40% 0.10% -3.48%
1993 - - - - 0.47%

Growth of $10,000 as of 07/31/2021

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
Investment Grade Corporate
CMBS
ABS
High Yield Corporate
Bank Loans
CLO
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 05/31/2022

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

Portfolio Positioning as of 3/31/2022

  • Over the quarter, we added exposure to corporate bonds, specifically adding to investment grade credit within the financials and banking industries. We took up high grade risk at the beginning of March as spreads widened and concessions grew in the primary market. We also added to high yield, non-energy commodities including metals and mining issues as we continue to look to hedge inflationary risks. Banks, financials, and energy continue to be the portfolio’s largest overweights within corporate credit.
  • We also added exposure to CMBS as U.S. commercial real estate delinquencies continue to fall from 2020 levels and the asset class is providing attractive carry relative to like-rated corporate bonds. Specifically, we focused on adding to industrial-backed single-borrower deals and multi-family commercial real estate collateralized-loan obligations (CRE CLO).
  • Lastly, we added to bank loans over the quarter. We continue to favor floating rate credit risk. We believe the asset class will continue to benefit from strong fundamentals and robust technicals.
  • We decreased the portfolio’s exposure to high-quality asset-backed securities (ABS) and U.S. Treasuries over the period.

Portfolio Details as of 05/31/2022

Total Net Assets
$56.90 B
Number of Issues
1353
Average Coupon
3.11%
Average Life
2.22 Years
Average Maturity
2.23 Years
Average Effective Duration
2.24 Years