LISDX | Short Duration Tax Free Fund Class I | Lord Abbett

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(as of 12/05/2015)

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Short Duration Tax Free Fund

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Summary

Summary

What is the Short Duration Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal taxation by investing primarily in short-term investment grade municipal bonds.
 

EXPERIENCED TEAM, TRUSTED LEGACY

A firm with over 30 years of experience navigating the nuances of the municipal market. 

HIGH QUALITY, LOW DURATION

The strategy seeks to generate tax-free income by combining high-quality, short maturity bonds with money market securities*, limiting credit risk and interest rate risk.  

STRONG PERFORMANCE

The disciplined process, based on in-depth credit research and strategic portfolio positioning, has provided investors with attractive returns relative to peers. 

* Although the Fund may invest in money market securities, this is not a money market fund.

Yield

30-Day Standardized Yield 1 as of 01/31/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 2.96% 2.95%

Average Yield to Worst as of 01/31/2024

4.13%

Fund Basicsas of 01/31/2024

Total Net Assets
$1.57 B
Inception Date
12/31/2008
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.46%
Fund Net Expense Ratio
0.45%
Number of Holdings
263
Minimum Initial Investment

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.05% 2.32% -0.24% 1.14% 1.11% 1.75%
Lipper Category Avg. Short Municipal Debt Funds 0.09% 2.73% 0.43% 1.11% 0.91% -
Bloomberg Municipal Bond Short 1-5 Year Index -0.18% 2.03% 0.08% 1.27% 1.25% 1.76%
w/ sales charge 0.05% 2.32% -0.24% 1.14% 1.11% 1.75%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 3.39% 3.39% -0.08% 1.22% 1.15% 1.76%
Lipper Category Avg. Short Municipal Debt Funds 3.61% 3.61% 0.48% 1.17% 0.94% -
Bloomberg Municipal Bond Short 1-5 Year Index 3.58% 3.58% 0.22% 1.42% 1.31% 1.78%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

Sector Assets
VRDN
IDR/PCR
Healthcare/Hospital
GO Local
GO State
Housing
Power
Other
Special Tax
Lease
Water & Sewer
Transportation
Education
Pre-Refunded
Maturity Assets
<1 Year
1-2 Years
2-4 Years
4-6 Years
>6 Years

CREDIT QUALITY DISTRIBUTION as of 01/31/2024

Rating Assets
A-1/MIG1
A-3/MIG3
AAA
AA
A
BBB
< BBB
Not Rated

INVESTMENT TEAM

Daniel S. Solender
Daniel S. Solender, CFA

Partner, Director of Tax Free Fixed Income

36 Years of Industry Experience

Daniel T. Vande Velde
Daniel T. Vande Velde

Partner, Portfolio Manager

33 Years of Industry Experience

Supported By 16 Investment Professionals with 12 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Worst as of 01/31/2024

4.13%

30-Day Standardized Yield 1 as of 01/31/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 2.96% 2.95%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.05% 2.32% -0.24% 1.14% 1.11% 1.75%
Lipper Category Avg. Short Municipal Debt Funds 0.09% 2.73% 0.43% 1.11% 0.91% -
Bloomberg Municipal Bond Short 1-5 Year Index -0.18% 2.03% 0.08% 1.27% 1.25% 1.76%
w/ sales charge 0.05% 2.32% -0.24% 1.14% 1.11% 1.75%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 3.39% 3.39% -0.08% 1.22% 1.15% 1.76%
Lipper Category Avg. Short Municipal Debt Funds 3.61% 3.61% 0.48% 1.17% 0.94% -
Bloomberg Municipal Bond Short 1-5 Year Index 3.58% 3.58% 0.22% 1.42% 1.31% 1.78%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

Year Fund Returns Bloomberg Municipal Bond Short 1-5 Year Index
2023 3.39% 3.58%
2022 -4.04% -3.17%
2021 0.55% 0.37%
2020 2.17% 2.82%
2019 4.27% 3.66%
2018 1.29% 1.77%
2017 1.90% 1.61%
2016 -0.46% 0.07%
2015 0.91% 1.21%
2014 1.78% 1.31%
2013 0.21% -
2012 2.35% -
2011 3.64% -
2010 2.36% -
2009 6.39% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2024 - - - - 0.28%
2023 1.13% 0.08% -0.37% 2.54% 3.39%
2022 -3.35% -0.94% -1.40% 1.65% -4.04%
2021 0.05% 0.65% -0.20% 0.05% 0.55%
2020 -1.62% 1.84% 1.01% 0.96% 2.17%
2019 1.49% 1.35% 0.69% 0.67% 4.27%
2018 -0.15% 0.63% 0.06% 0.75% 1.29%
2017 1.04% 0.71% 0.51% -0.37% 1.90%
2016 0.57% 0.65% 0.06% -1.72% -0.46%
2015 0.36% -0.14% 0.50% 0.19% 0.91%
2014 0.68% 0.54% 0.44% 0.11% 1.78%
2013 0.59% -0.96% 0.22% 0.37% 0.21%
2012 0.79% 0.68% 0.79% 0.07% 2.35%
2011 0.58% 1.47% 1.01% 0.54% 3.64%
2010 0.53% 0.99% 1.41% -0.58% 2.36%
2009 2.42% 1.06% 2.32% 0.46% 6.39%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Sector Assets
VRDN
IDR/PCR
Healthcare/Hospital
GO Local
GO State
Housing
Power
Other
Special Tax
Lease
Water & Sewer
Transportation
Education
Pre-Refunded
Maturity Assets
<1 Year
1-2 Years
2-4 Years
4-6 Years
>6 Years
State Assets
NY
IL
AL
PA
TX
NJ
FL
CA
LA
WI
GA
OH
SC
WA
NC
DE
NE
CO
MD
MO
MA
VA
KY
MN
TN
ID
NM
WV
DC
UT
IN
AZ
CT
OR
KS
ND
MI
Other U.S. Territories
OK
NV

CREDIT QUALITY DISTRIBUTION as of 01/31/2024

Rating Assets
A-1/MIG1
A-3/MIG3
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Details as of 01/31/2024

Total Net Assets
$1.57 B
Average Effective Duration
1.96 Years
Average Effective Maturity
3.5 Years
Number of Issues
263
Average Yield to Worst
4.13%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 02/27/2024
$0.03701
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 01/31/2024 $0.03701 $15.04

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 02/29/2024
Daily Daily 03/31/2024
Daily Daily 04/30/2024
Daily Daily 05/31/2024
Daily Daily 06/30/2024
Daily Daily 07/31/2024
Daily Daily 08/31/2024
Daily Daily 09/30/2024
Daily Daily 10/31/2024
Daily Daily 11/30/2024
Daily Daily 12/31/2024

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/19/2013 12/20/2013 $0.0121 - $0.0121 $15.71

Fees & Expenses

Fees & Expenses

Expense Ratioas of 01/31/2024

Fund Gross Expense Ratio Fund Net Expense Ratio
0.46% 0.45%

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

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The Bloomberg Municipal Bond Short 1-5 Year Index is the Muni Short 1-5 year component of the Municipal Bond index. The Bloomberg Municipal Bond Index is a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market. The index is a broad measure of the municipal bond market with maturities of at least one year.  To be included in the index, bonds must be rated investment-grade (Baa3/BBB- or higher) by at least two of the following ratings agencies: Moody's, S&P, Fitch. If only two of the three agencies rate the security, the lower rating is used to determine index eligibility. If only one of the three agencies rates a security, the rating must be investment-grade. They must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate, have a dated-date after December 31, 1990, and must be at least one year from their maturity date. 

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