LSDAX | Short Duration Tax Free Fund Class A | Lord Abbett
Image alt tag

Page not optimized for mobile browsing

DST vision is best viewed on desktop and tablet

The Muni-Ladder Interest Rate Scenario Tool is only available on desktop and tablet.

PROCEED GO TO LORDABBETT.COM

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)
View All Tracked Funds
View All Tracked Funds

Quick Links

Follow Us

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.

Check Out Go Literature Center

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 Tax Free Fund

Daily price w/o sales charge as of 04/21/2021

$15.92

$0.00

YTD Returns w/o sales charge as of 04/21/2021

0.43%

Please click here for performance current to the most recent quarter-end and month-end.

Click here to view all legal text including risk information

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

Dividend Yield 1 as of 04/21/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 0.90% 0.89%
w/ sales charge 0.88% 0.87%

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

0.27%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Basicsas of 03/31/2021

Total Net Assets
$2.18 B
Inception Date
12/31/2008
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.66%
Fund Net Expense Ratio
0.65%
Number of Holdings
440
Minimum Initial Investment
$1,000+

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.00% 3.77% 2.43% 1.52% 1.55% 1.98%
Lipper Category Avg. Short Municipal Debt Funds 0.01% 2.35% 1.91% 1.34% 1.26% -
Bloomberg Barclays Municipal Bond Short 1-5 Year Index 0.08% 3.33% 2.74% 1.85% 1.81% 2.14%
w/ sales charge -2.27% 1.41% 1.65% 1.06% 1.32% 1.79%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.00% 3.77% 2.43% 1.52% 1.55% 1.98%
Lipper Category Avg. Short Municipal Debt Funds 0.01% 2.35% 1.91% 1.34% 1.26% -
Bloomberg Barclays Municipal Bond Short 1-5 Year Index 0.08% 3.33% 2.74% 1.85% 1.81% 2.14%
w/ sales charge -2.27% 1.41% 1.65% 1.06% 1.32% 1.79%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

RELATED CONTENT

Sector Assets
IDR/PCR
GO Local
Healthcare/Hospital
VRDN
Transportation
GO State
Power
Lease
Housing
Special Tax
Water & Sewer
Education
Other
Pre-Refunded
Muni_Solid_Waste/Res_Recovery

The Fund's portfolio is actively managed and is subject to change.

Maturity Assets
<1 Year
1-2 Years
2-4 Years
4-6 Years
>6 Years

The Fund's portfolio is actively managed and is subject to change.

CREDIT QUALITY DISTRIBUTION as of 03/31/2021

Rating Assets
A-1/MIG1
A-2/MIG2
AAA
AA
A
BBB
< BBB
Not Rated

Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.

INVESTMENT TEAM

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

33 Years of Industry Experience

Daniel T. Vande Velde
Daniel T. Vande Velde

Partner & Portfolio Manager

30 Years of Industry Experience

Supported By 16 Investment Professionals with 13 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 04/21/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 0.90% 0.89%
w/ sales charge 0.88% 0.87%

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

  Subsidized5 Un-Subsidized6
w/o sales charge 0.27% 0.27%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.00% 3.77% 2.43% 1.52% 1.55% 1.98%
Lipper Category Avg. Short Municipal Debt Funds 0.01% 2.35% 1.91% 1.34% 1.26% -
Bloomberg Barclays Municipal Bond Short 1-5 Year Index 0.08% 3.33% 2.74% 1.85% 1.81% 2.14%
w/ sales charge -2.27% 1.41% 1.65% 1.06% 1.32% 1.79%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.00% 3.77% 2.43% 1.52% 1.55% 1.98%
Lipper Category Avg. Short Municipal Debt Funds 0.01% 2.35% 1.91% 1.34% 1.26% -
Bloomberg Barclays Municipal Bond Short 1-5 Year Index 0.08% 3.33% 2.74% 1.85% 1.81% 2.14%
w/ sales charge -2.27% 1.41% 1.65% 1.06% 1.32% 1.79%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns Bloomberg Barclays Municipal Bond Short 1-5 Year Index
2020 2.03% 2.82%
2019 4.06% 3.66%
2018 1.10% 1.77%
2017 1.64% 1.61%
2016 -0.66% 0.07%
2015 0.71% 1.21%
2014 1.58% 1.31%
2013 0.02% 1.14%
2012 2.16% 1.73%
2011 3.46% 3.45%
2010 2.17% -
2009 6.14% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 0.00% - - - 0.43%
2020 -1.67% 1.86% 0.96% 0.91% 2.03%
2019 1.51% 1.24% 0.71% 0.55% 4.06%
2018 -0.13% 0.51% 0.08% 0.63% 1.10%
2017 0.92% 0.73% 0.40% -0.42% 1.64%
2016 0.52% 0.60% 0.01% -1.77% -0.66%
2015 0.31% -0.25% 0.52% 0.14% 0.71%
2014 0.57% 0.56% 0.39% 0.06% 1.58%
2013 0.54% -1.01% 0.17% 0.32% 0.02%
2012 0.75% 0.64% 0.74% 0.02% 2.16%
2011 0.53% 1.42% 0.97% 0.50% 3.46%
2010 0.49% 0.95% 1.36% -0.63% 2.17%
2009 2.36% 0.99% 2.26% 0.41% 6.14%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 03/31/2021

The chart begins on the Fund's inception date of 12/31/2008.

Based on a hypothetical Class A share investment of $10,000 on 12/31/2008 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Sector Assets
IDR/PCR
GO Local
Healthcare/Hospital
VRDN
Transportation
GO State
Power
Lease
Housing
Special Tax
Water & Sewer
Education
Other
Pre-Refunded
Muni_Solid_Waste/Res_Recovery

The Fund's portfolio is actively managed and is subject to change.

Maturity Assets
<1 Year
1-2 Years
2-4 Years
4-6 Years
>6 Years

The Fund's portfolio is actively managed and is subject to change.

State Assets
NY
IL
PA
NJ
TX
CA
AL
OH
FL
NC
CT
VA
LA
AR
MA
MD
GA
WV
IA
DE
SC
KY
IN
CO
NM
MI
MO
NE
WI
OR
ID
TN
AZ
WA
MN
MS
ND
NH
HI
NV
KS
OK
Puerto Rico
DC
WY

CREDIT QUALITY DISTRIBUTION as of 03/31/2021

Rating Assets
A-1/MIG1
A-2/MIG2
AAA
AA
A
BBB
< BBB
Not Rated

Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.

Portfolio Positioning as of 12/31/2020

  • The portfolio is overweight bonds maturing in less than one year. These positions represent a sizable weighting in variable rate demand notes which typically exhibit low volatility and strong liquidity. These securities are always priced at par, and therefore, do not have the duration risk of fixed coupon bonds.
  • The strong underlying credit quality of the municipal market and the ability of issuers in different sectors to respond to the challenges posed by the virus have supported the market’s recovery thus far and may continue to drive positive returns. The CARES Act and positive developments on the vaccine front have also created tailwinds.
  • In terms of quality, we anticipate outperformance of lower tiered credits as they have lagged higher quality credits in the recovery thus far.

Portfolio Details as of 03/31/2021

Total Net Assets
$2.18 B
Number of Issues
440
Average Coupon
3.1%
Average Effective Maturity
4.0 Years
Average Effective Duration
2.63 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Arkansas Development Finance Authority 0.210% 09/01/2044 2.2%
New York City Water & Sewer System 0.070% 06/15/2045 1.7%
State of Texas 4.000% 08/26/2021 1.4%
County of Mason WV 2.750% 10/01/2022 1.3%
Binghamton City School District 1.500% 06/25/2021 1.3%
PEFA Inc 5.000% 09/01/2049 1.3%
State of California 5.000% 12/01/2027 1.2%
North Carolina Medical Care Commission 2.200% 12/01/2048 1.1%
Lower Alabama Gas District/The 4.000% 12/01/2050 1.0%
Industrial Development Board of the City of Mobile 2.900% 07/15/2034 1.0%
% of Total Assets 13.5%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

HOLDINGS as of02/26/2021

Holding Coupon Maturity Assets
New York State Dormitory Authority5.000% 03/31/20212.8%
Arkansas Development Finance Authority0.170% 09/01/20442.2%
State of Texas4.000% 08/26/20211.5%
County of Mason WV2.750% 10/01/20221.3%
Binghamton City School District1.500% 06/25/20211.3%
PEFA Inc5.000% 09/01/20491.3%
North Carolina Medical Care Commission2.200% 12/01/20481.1%
Lower Alabama Gas District/The4.000% 12/01/20501.0%
Port Authority of New York & New Jersey5.000% 01/15/20411.0%
Industrial Development Board of the City of Mobile2.900% 07/15/20341.0%
Clyde-Savannah Central School District1.250% 06/24/20211.0%
Geisinger Authority5.000% 04/01/20431.0%
City of New York NY0.230% 10/01/20461.0%
Lee Memorial Health System1.650% 04/01/20490.9%
Main Street Natural Gas Inc4.000% 03/01/20500.8%
Pittsburgh Water & Sewer Authority0.680% 09/01/20400.8%
Health Care Authority for Baptist Health/The1.900% 11/01/20420.8%
Saranac Central School District1.500% 07/15/20210.8%
City of Fall River MA1.500% 02/04/20220.8%
Katy Independent School District0.355% 08/15/20360.8%
Railsplitter Tobacco Settlement Authority5.250% 06/01/20210.8%
Metropolitan Transportation Authority5.000% 11/15/20450.8%
City of Farmington NM1.100% 06/01/20400.8%
County of Suffolk NY2.000% 07/22/20210.8%
North Carolina Turnpike Authority5.000% 02/01/20240.7%
Development Authority of Appling County0.070% 09/01/20410.7%
Nebraska Public Power District0.600% 01/01/20510.7%
New Jersey Transportation Trust Fund Authority5.000% 12/15/20250.7%
Louisiana Local Government Environmental Facilitie0.875% 02/01/20460.7%
Medina Central School District1.500% 07/16/20210.7%
Black Belt Energy Gas District4.000% 12/01/20490.7%
Commonwealth of Pennsylvania5.000% 07/15/20290.6%
Township of Moorestown NJ2.500% 07/30/20210.6%
School District of Philadelphia/The4.000% 06/30/20210.6%
South Carolina Transportation Infrastructure Bank4.000% 10/01/20330.6%
County of Nassau NY4.000% 03/15/20210.6%
San Antonio Water System2.625% 05/01/20490.6%
Massena Central School District1.500% 08/27/20210.6%
New York State Housing Finance Agency0.750% 11/01/20250.6%
Wise County Industrial Development Authority0.750% 10/01/20400.6%
Metropolitan Transportation Authority5.000% 11/15/20300.6%
Chicago Board of Education5.000% 12/01/20250.5%
County of Nez Perce ID2.750% 10/01/20240.5%
City of Tampa FL4.000% 11/15/20330.5%
Corinth Central School District1.500% 07/23/20210.5%
Lancaster Port Authority5.000% 08/01/20490.5%
Ohio Air Quality Development Authority2.400% 12/01/20380.5%
County of Carroll KY1.550% 09/01/20420.5%
City of San Antonio TX Electric & Gas Systems Reve1.750% 02/01/20490.5%
State of Illinois5.000% 11/01/20230.5%
Grand Parkway Transportation Corp5.000% 02/01/20230.5%
Oregon State Business Development Commission2.400% 12/01/20400.5%
Delaware State Economic Development Authority1.250% 10/01/20450.5%
Lehigh County Industrial Development Authority1.800% 02/15/20270.5%
Bay Area Toll Authority0.716% 04/01/20450.5%
Lansing Board of Water & Light2.000% 07/01/20510.5%
County of Erie NY3.000% 06/24/20210.5%
Wisconsin Health & Educational Facilities Authorit5.000% 02/15/20520.5%
Town of Ledyard CT2.000% 05/11/20210.5%
Maryland Community Development Administration3.500% 03/01/20500.5%
Chesapeake Bay Bridge & Tunnel District5.000% 11/01/20230.5%
New Jersey Transportation Trust Fund Authority1.230% 06/15/20340.5%
Long Island Power Authority0.836% 05/01/20330.5%
University of North Carolina at Chapel Hill0.432% 12/01/20410.5%
Delaware State Economic Development Authority1.250% 10/01/20400.5%
State of New Jersey5.000% 06/01/20260.5%
New Jersey Turnpike Authority5.000% 01/01/20280.5%
Delaware Valley Regional Finance Authority0.240% 11/01/20550.5%
Town of Orleans MA1.500% 02/04/20220.4%
Colorado Health Facilities Authority5.000% 08/01/20490.4%
General Authority of Southcentral Pennsylvania0.630% 06/01/20490.4%
Long Island Power Authority0.850% 09/01/20500.4%
State of California5.000% 08/01/20260.4%
Patriots Energy Group Financing Agency4.000% 10/01/20480.4%
County of Prince George's MD4.000% 08/01/20310.4%
City of San Antonio TX Electric & Gas Systems Reve2.750% 02/01/20480.4%
State of Connecticut5.000% 04/15/20250.4%
Texas Municipal Gas Acquisition & Supply Corp III5.000% 12/15/20280.4%
Parish of St John the Baptist LA2.100% 06/01/20370.4%
State of Illinois5.000% 06/15/20240.4%
Illinois State Toll Highway Authority5.000% 01/01/20240.4%
New Jersey Transportation Trust Fund Authority5.000% 12/15/20240.4%
Northampton County General Purpose Authority1.126% 08/15/20480.4%
State of Connecticut5.000% 11/01/20220.4%
New Jersey Transportation Trust Fund Authority5.000% 06/15/20230.4%
Ohio Higher Educational Facility Commission0.506% 10/01/20440.4%
City of Chicago IL5.000% 01/01/20270.4%
Binghamton City School District1.500% 11/12/20210.4%
Harris County Cultural Education Facilities Financ0.600% 12/01/20490.4%
City of New York NY5.000% 08/01/20210.4%
Metropolitan Transportation Authority5.000% 05/15/20220.4%
Triborough Bridge & Tunnel Authority0.030% 01/01/20320.3%
Texas Municipal Gas Acquisition & Supply Corp III5.000% 12/15/20270.3%
Maryland Health & Higher Educational Facilities Au5.000% 07/01/20450.3%
City of Pittsfield MA1.000% 02/25/20220.3%
Metropolitan Transportation Authority5.000% 09/01/20220.3%
Parish of St Charles LA4.000% 12/01/20400.3%
Triborough Bridge & Tunnel Authority0.000% 01/01/20320.3%
California Infrastructure & Economic Development B0.730% 12/01/20500.3%
Delaware State Economic Development Authority1.050% 01/01/20310.3%
Commonwealth of Pennsylvania5.000% 05/01/20270.3%
State of Connecticut5.000% 10/15/20260.3%
City of Chicago IL Waterworks Revenue5.000% 11/01/20220.3%
California Municipal Finance Authority5.000% 11/01/20270.3%
Michigan State Housing Development Authority4.250% 12/01/20490.3%
Connecticut Housing Finance Authority4.000% 05/15/20490.3%
Texas Municipal Gas Acquisition & Supply Corp III5.000% 12/15/20260.3%
North Carolina Medical Care Commission5.000% 02/01/20510.3%
State of Connecticut Special Tax Revenue5.000% 01/01/20260.3%
Board of Cooperative Educational Services for the1.250% 04/30/20210.3%
E-470 Public Highway Authority0.497% 09/01/20390.3%
Louisa Industrial Development Authority0.750% 11/01/20350.3%
Hospitals & Higher Education Facilities Authority5.000% 07/01/20270.3%
City of Chicago IL5.000% 01/01/20280.3%
Metropolitan Transportation Authority5.000% 11/15/20330.3%
Tennessee Housing Development Agency3.000% 01/01/20510.3%
Kentucky Public Energy Authority4.000% 12/01/20500.3%
Parish of St John the Baptist LA2.125% 06/01/20370.3%
Commonwealth Financing Authority5.000% 06/01/20240.3%
New Jersey Economic Development Authority5.000% 03/01/20250.3%
Main Street Natural Gas Inc5.000% 05/15/20250.3%
State of Maryland Department of Transportation4.000% 09/01/20260.3%
York County Economic Development Authority1.900% 05/01/20330.3%
Northern California Energy Authority4.000% 07/01/20490.3%
Wise County Industrial Development Authority1.200% 11/01/20400.3%
Berks County Municipal Authority/The5.000% 02/01/20400.3%
North Dakota Housing Finance Agency4.000% 01/01/20500.3%
Metropolitan Water Reclamation District of Greater5.000% 12/01/20220.3%
Illinois Finance Authority5.000% 05/15/20500.3%
Allentown Neighborhood Improvement Zone Developmen5.000% 05/01/20280.3%
Ohio Housing Finance Agency4.500% 03/01/20500.2%
New Hampshire Business Finance Authority2.800% 10/01/20330.2%
Chicago Board of Education5.000% 12/01/20340.2%
State of Hawaii5.000% 11/01/20210.2%
Allegheny County Hospital Development Authority5.000% 07/15/20290.2%
Louisa Industrial Development Authority1.900% 11/01/20350.2%
South Carolina State Housing Finance & Development4.000% 01/01/20500.2%
Missouri Housing Development Commission4.250% 05/01/20470.2%
State of Connecticut5.000% 08/15/20210.2%
Central Texas Regional Mobility Authority4.000% 01/01/20220.2%
New Caney Independent School District3.000% 02/15/20500.2%
Charles City County Economic Development Authority2.875% 02/01/20290.2%
Louisville/Jefferson County Metropolitan Governmen1.850% 10/01/20330.2%
Massachusetts Development Finance Agency0.530% 07/01/20380.2%
New York State Housing Finance Agency0.750% 11/01/20250.2%
Chicago O'Hare International Airport5.000% 01/01/20310.2%
County of Miami-Dade FL5.000% 06/01/20260.2%
Chicago Board of Education4.000% 12/01/20210.2%
Western Placer Unified School District2.000% 06/01/20250.2%
Allegheny County Industrial Development Authority4.875% 11/01/20240.2%
Maryland Community Development Administration4.000% 09/01/20490.2%
Minnesota Housing Finance Agency4.250% 07/01/20490.2%
North Carolina Housing Finance Agency4.000% 01/01/20500.2%
New Jersey Economic Development Authority5.000% 06/15/20260.2%
County of Cook IL5.000% 11/15/20260.2%
New Jersey Health Care Facilities Financing Author5.000% 07/01/20260.2%
Chicago Board of Education5.000% 12/01/20310.2%
Texas Municipal Gas Acquisition & Supply Corp III5.000% 12/15/20250.2%
Maricopa County Industrial Development Authority0.600% 01/01/20350.2%
New Jersey Transportation Trust Fund Authority5.000% 06/15/20210.2%
New Jersey Economic Development Authority5.000% 06/15/20210.2%
California Statewide Communities Development Autho3.000% 07/01/20260.2%
County of Warren MS2.900% 09/01/20320.2%
Delaware Valley Regional Finance Authority2.000% 10/01/20290.2%
SA Energy Acquisition Public Facility Corp5.500% 08/01/20210.2%
Triborough Bridge & Tunnel Authority0.020% 01/01/20320.2%
Illinois Finance Authority5.000% 07/15/20570.2%
City of Newark NJ2.000% 10/05/20210.2%
Chicago Board of Education4.000% 12/01/20220.2%
California State Public Works Board5.000% 10/01/20270.2%
Illinois Finance Authority5.000% 02/15/20220.2%
Long Island Power Authority1.650% 09/01/20490.2%
Indianapolis Local Public Improvement Bond Bank5.000% 06/01/20220.2%
Suffolk Tobacco Asset Securitization Corp5.375% 06/01/20280.2%
City of Farmington NM1.875% 04/01/20330.2%
Tobacco Settlement Financing Corp3.200% 06/01/20270.2%
Washington Health Care Facilities Authority2.482% 01/01/20420.2%
Parish of St James LA5.850% 08/01/20410.2%
Chicago Board of Education5.000% 12/01/20220.2%
New Jersey Economic Development Authority5.000% 03/01/20230.2%
New Jersey Turnpike Authority5.000% 01/01/20270.2%
New Jersey Health Care Facilities Financing Author5.000% 07/01/20270.2%
City of Rockport IN3.050% 06/01/20250.2%
Development Authority of Burke County/The1.500% 01/01/20400.2%
Chicago Board of Education4.000% 12/01/20220.2%
State of Connecticut Special Tax Revenue5.000% 10/01/20220.2%
Chicago Board of Education5.000% 12/01/20230.2%
New Jersey Economic Development Authority4.000% 07/01/20220.2%
Texas Private Activity Bond Surface Transportation4.000% 12/31/20300.2%
New Jersey Economic Development Authority5.000% 11/01/20220.2%
Louisiana Offshore Terminal Authority1.650% 09/01/20270.2%
Chicago Board of Education4.000% 12/01/20210.2%
City of New York NY5.000% 10/01/20330.2%
State of Connecticut5.000% 06/15/20220.2%
State of Illinois5.000% 11/01/20250.2%
Kentucky Public Energy Authority4.000% 04/01/20480.2%
Texas Municipal Gas Acquisition & Supply Corp III5.000% 12/15/20230.2%
State of Illinois5.375% 05/01/20230.2%
New Jersey Health Care Facilities Financing Author5.750% 07/01/20370.2%
State of Illinois5.250% 02/01/20300.2%
Texas Municipal Gas Acquisition & Supply Corp III5.000% 12/15/20240.2%
City of Chicago IL Waterworks Revenue5.000% 11/01/20280.1%
County of Escambia FL2.600% 06/01/20230.1%
Industrial Development Board of the City of Mobile1.000% 06/01/20340.1%
Lee Memorial Health System5.000% 04/01/20250.1%
West Virginia Economic Development Authority2.625% 12/01/20420.1%
Allegheny County Hospital Development Authority5.000% 04/01/20260.1%
County of Cook IL5.000% 11/15/20280.1%
Cleveland Department of Public Utilities Division5.000% 11/15/20270.1%
City of Atlantic Beach FL3.000% 11/15/20230.1%
Michigan Finance Authority5.000% 12/01/20260.1%
New York State Dormitory Authority5.000% 09/01/20300.1%
Selma Industrial Development Board2.000% 11/01/20330.1%
New York State Dormitory Authority5.000% 10/01/20240.1%
Parish of St John the Baptist LA2.375% 06/01/20370.1%
State of Illinois5.125% 05/01/20220.1%
American Municipal Power Inc5.250% 02/15/20300.1%
Chicago O'Hare International Airport5.000% 01/01/20290.1%
Monroeville Finance Authority3.000% 02/15/20230.1%
Cleveland Department of Public Utilities Division5.000% 11/15/20280.1%
Illinois Finance Authority5.000% 08/15/20290.1%
New York City Industrial Development Agency5.000% 03/01/20290.1%
Illinois Finance Authority5.000% 08/15/20280.1%
Allentown City School District2.375% 03/31/20210.1%
City of Philadelphia PA5.000% 02/01/20280.1%
City of Philadelphia PA5.000% 02/01/20250.1%
County of Cook IL5.000% 11/15/20270.1%
New Jersey Turnpike Authority2.207% 01/01/20300.1%
New Jersey Economic Development Authority5.000% 03/01/20220.1%
Bay Area Toll Authority1.280% 04/01/20360.1%
Commonwealth Financing Authority5.000% 06/01/20220.1%
Village Community Development District No 131.875% 05/01/20250.1%
Montgomery County Higher Education and Health Auth5.000% 09/01/20280.1%
Chicago Transit Authority5.000% 06/01/20250.1%
Massachusetts Development Finance Agency5.000% 07/01/20240.1%
Chicago Board of Education5.000% 12/01/20330.1%
County of Jefferson AL5.000% 09/15/20230.1%
California Statewide Communities Development Autho3.000% 07/01/20270.1%
Clifton Higher Education Finance Corp5.250% 08/15/20280.1%
New York State Dormitory Authority5.000% 09/01/20290.1%
City of Rockport IN1.350% 07/01/20250.1%
New Jersey Health Care Facilities Financing Author5.000% 07/01/20260.1%
State of New York Mortgage Agency3.500% 04/01/20490.1%
County of Lehigh PA5.000% 07/01/20260.1%
Greeneville Health & Educational Facilities Board5.000% 07/01/20220.1%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit5.000% 07/01/20220.1%
West Virginia Economic Development Authority2.550% 03/01/20400.1%
New York City Industrial Development Agency5.000% 03/01/20300.1%
Public Finance Authority5.000% 12/01/20270.1%
City of Chicago IL Wastewater Transmission Revenue5.000% 01/01/20220.1%
Ohio Air Quality Development Authority1.900% 05/01/20260.1%
Parish of St John the Baptist LA2.200% 06/01/20370.1%
Western Placer Unified School District2.000% 06/01/20250.1%
New York City Industrial Development Agency2.242% 03/01/20260.1%
Ohio Higher Educational Facility Commission2.963% 12/01/20220.1%
Louisiana Offshore Terminal Authority2.000% 10/01/20400.1%
New York State Dormitory Authority5.000% 07/01/20210.1%
New York State Dormitory Authority5.000% 10/01/20250.1%
Pennsylvania Higher Educational Facilities Authori5.000% 08/15/20280.1%
Washington Health Care Facilities Authority1.430% 01/01/20350.1%
City of Rockport IN1.350% 07/01/20250.1%
New York City Housing Development Corp0.700% 05/01/20600.1%
E-470 Public Highway Authority1.128% 09/01/20390.1%
State of California0.842% 12/01/20310.1%
Kentucky Public Energy Authority4.000% 01/01/20490.1%
Development Authority of Monroe County/The1.500% 01/01/20390.1%
Montgomery County Higher Education and Health Auth5.000% 09/01/20270.1%
City of Chicago IL5.250% 01/01/20270.1%
New York State Dormitory Authority5.000% 09/01/20280.1%
California Housing Finance4.000% 03/20/20330.1%
California State Public Works Board5.000% 10/01/20260.1%
Clifton Higher Education Finance Corp5.250% 08/15/20260.1%
State of Connecticut5.000% 09/15/20300.1%
Matagorda County Navigation District No 14.400% 05/01/20300.1%
North Carolina Turnpike Authority5.000% 01/01/20280.1%
New York Transportation Development Corp5.000% 12/01/20260.1%
City of Lenexa KS5.000% 05/15/20220.1%
Kentucky Municipal Power Agency3.450% 09/01/20420.1%
Wappingers Central School District2.000% 08/12/20210.1%
Greeneville Health & Educational Facilities Board5.000% 07/01/20210.1%
New York State Dormitory Authority4.000% 12/01/20210.1%
New York State Dormitory Authority5.000% 09/01/20270.1%
Triborough Bridge & Tunnel Authority5.500% 11/15/20210.1%
County of Cuyahoga OH5.000% 02/15/20250.1%
New York City Industrial Development Agency5.000% 03/01/20280.1%
New York State Dormitory Authority5.000% 08/01/20240.1%
Southeastern Ohio Port Authority5.000% 12/01/20220.1%
Greeneville Health & Educational Facilities Board5.000% 07/01/20230.1%
Industrial Development Authority of the County of3.500% 07/01/20250.1%
Tuscaloosa County Industrial Development Authority4.500% 05/01/20320.1%
California Municipal Finance Authority5.000% 07/01/20260.1%
Central Plains Energy Project5.000% 09/01/20270.1%
State of Connecticut Special Tax Revenue5.000% 05/01/20260.1%
Kentucky Economic Development Finance Authority5.000% 06/01/20250.1%
Oneida County Local Development Corp5.000% 12/01/20270.1%
Pennsylvania Higher Educational Facilities Authori5.000% 08/15/20270.1%
Rangely Hospital District4.500% 11/01/20210.1%
School District of Philadelphia/The5.000% 09/01/20210.1%
Village Community Development District No 132.625% 05/01/20300.1%
New Jersey Health Care Facilities Financing Author5.000% 07/01/20270.1%
City of Philadelphia PA5.000% 02/01/20270.1%
Iowa Finance Authority3.125% 12/01/20220.1%
TSASC Inc/NY5.000% 06/01/20210.1%
Capital Trust Agency Inc4.000% 06/15/20290.1%
City Of South Miami Health Facilities Authority In5.000% 08/15/20230.1%
Matagorda County Navigation District No 12.600% 11/01/20290.1%
Virginia Small Business Financing Authority5.000% 01/01/20250.1%
Cleveland Department of Public Utilities Division5.000% 11/15/20260.1%
Duluth Economic Development Authority4.750% 06/15/20220.1%
New Jersey Economic Development Authority5.000% 06/15/20250.1%
Illinois Finance Authority5.000% 09/01/20280.1%
School District of Philadelphia/The5.000% 09/01/20250.1%
University of California5.000% 05/15/20240.1%
Bay Area Toll Authority4.000% 04/01/20290.1%
Montgomery County Higher Education and Health Auth5.000% 09/01/20260.1%
New Jersey Transportation Trust Fund Authority5.000% 12/15/20230.1%
New York Transportation Development Corp5.000% 12/01/20280.1%
School District of Philadelphia/The5.000% 09/01/20230.1%
Regional Transportation District5.000% 07/15/20290.1%
California County Tobacco Securitization Agency5.000% 06/01/20260.1%
Virginia Small Business Financing Authority5.000% 01/01/20280.1%
Hospital Facilities Authority of Multnomah County5.000% 10/01/20240.1%
City of Chicago IL5.250% 01/01/20230.1%
Cleveland Department of Public Utilities Division5.000% 11/15/20290.1%
Massachusetts Development Finance Agency5.000% 07/01/20220.1%
Montgomery County Higher Education and Health Auth5.000% 09/01/20290.1%
Illinois Finance Authority5.000% 05/15/20250.1%
Development Authority of Appling County1.500% 01/01/20380.1%
School District of Philadelphia/The5.000% 09/01/20220.1%
Washington State Housing Finance Commission2.375% 01/01/20260.1%
Clark County School District5.000% 06/15/20270.1%
Commonwealth Financing Authority5.000% 06/01/20230.1%
District of Columbia5.000% 07/15/20210.1%
New York City Industrial Development Agency5.000% 01/01/20270.1%
Regional Transportation District5.000% 07/15/20270.1%
Virginia Small Business Financing Authority5.000% 01/01/20270.1%
City of Philadelphia PA5.000% 02/01/20260.1%
New York Transportation Development Corp5.000% 12/01/20240.1%
Oneida County Local Development Corp5.000% 12/01/20280.1%
Oneida County Local Development Corp5.000% 12/01/20290.1%
City of Chicago IL Waterworks Revenue5.000% 11/01/20220.1%
City of Lenexa KS5.000% 05/15/20250.1%
Chicago Board of Education5.000% 12/01/20220.1%
City Of South Miami Health Facilities Authority In5.000% 08/15/20220.1%
New York City Industrial Development Agency5.000% 01/01/20290.1%
Troy Capital Resource Corp5.000% 08/01/20220.1%
School District of Philadelphia/The5.000% 09/01/20240.0%
State of Connecticut Special Tax Revenue5.000% 05/01/20250.0%
Virginia Small Business Financing Authority5.000% 01/01/20230.0%
Mississippi Business Finance Corp2.280% 11/01/20320.0%
Regional Transportation District3.000% 01/15/20260.0%
New Jersey Economic Development Authority5.000% 06/15/20220.0%
School District of Philadelphia/The5.000% 09/01/20210.0%
Massachusetts Development Finance Agency5.000% 07/01/20250.0%
Oklahoma Development Finance Authority5.000% 08/15/20260.0%
Philadelphia Gas Works Co5.000% 08/01/20230.0%
New Jersey Health Care Facilities Financing Author5.000% 07/01/20210.0%
Philadelphia Gas Works Co5.000% 08/01/20240.0%
Kirkwood Industrial Development Authority5.000% 05/15/20220.0%
Illinois Finance Authority5.000% 09/01/20290.0%
Maricopa County Industrial Development Authority5.000% 09/01/20220.0%
New York City Industrial Development Agency5.000% 01/01/20280.0%
North Carolina Medical Care Commission5.000% 10/01/20230.0%
Niagara Area Development Corp3.500% 11/01/20240.0%
Maricopa County Industrial Development Authority5.000% 09/01/20210.0%
California County Tobacco Securitization Agency5.000% 06/01/20250.0%
California Municipal Finance Authority5.000% 08/01/20220.0%
Florida Higher Educational Facilities Financial Au5.000% 03/01/20250.0%
California County Tobacco Securitization Agency1.750% 06/01/20300.0%
Illinois Finance Authority5.000% 11/15/20210.0%
Clark County School District3.000% 06/15/20250.0%
Florida Higher Educational Facilities Financial Au5.000% 03/01/20240.0%
Massachusetts Development Finance Agency4.000% 07/01/20210.0%
California County Tobacco Securitization Agency5.000% 06/01/20240.0%
Massachusetts Development Finance Agency5.000% 07/01/20230.0%
Long Island Power Authority5.000% 09/01/20270.0%
Oklahoma Development Finance Authority5.000% 08/15/20250.0%
Long Island Power Authority5.000% 09/01/20260.0%
New Jersey Economic Development Authority5.000% 06/15/20290.0%
Clark County School District3.000% 06/15/20240.0%
Clark County School District5.000% 06/15/20260.0%
City of Santa Fe NM2.250% 05/15/20240.0%
School District of Philadelphia/The5.000% 09/01/20220.0%
State of Ohio5.000% 01/15/20260.0%
State of Ohio4.000% 01/15/20280.0%
Tulsa County Industrial Authority5.000% 11/15/20260.0%
Allentown Neighborhood Improvement Zone Developmen5.000% 05/01/20220.0%
Commonwealth of Pennsylvania5.000% 07/01/20250.0%
Commonwealth of Pennsylvania5.000% 07/01/20230.0%
Maricopa County Industrial Development Authority4.000% 07/01/20290.0%
New Jersey Building Authority5.000% 06/15/20220.0%
School District of Philadelphia/The5.000% 09/01/20230.0%
Franklin County Industrial Development Authority/P5.000% 12/01/20230.0%
Illinois Finance Authority5.000% 09/01/20220.0%
Massachusetts Development Finance Agency4.000% 07/01/20220.0%
Michigan Finance Authority5.000% 07/01/20220.0%
Illinois Finance Authority5.000% 09/01/20210.0%
Antelope Valley Healthcare District5.000% 03/01/20210.0%
Palomar Health5.000% 11/01/20210.0%
Village Community Development District No 123.250% 05/01/20230.0%
New Jersey Economic Development Authority5.000% 06/15/20270.0%
New Jersey Economic Development Authority5.000% 06/15/20280.0%
Pennsylvania Turnpike Commission5.000% 12/01/20260.0%
City of Cleveland OH Airport System Revenue5.000% 01/01/20220.0%
New York Transportation Development Corp5.000% 12/01/20250.0%
Troy Capital Resource Corp5.000% 08/01/20210.0%
Florida Higher Educational Facilities Financial Au5.000% 03/01/20230.0%
Michigan Finance Authority5.000% 07/01/20210.0%
County of Laramie WY4.000% 05/01/20270.0%
Chicago Board of Education5.000% 12/01/20210.0%
Florida Higher Educational Facilities Financial Au5.000% 03/01/20210.0%
Florida Higher Educational Facilities Financial Au5.000% 03/01/20220.0%
City of Sparks NV2.750% 06/15/20280.0%
State of Ohio5.000% 01/15/20270.0%
County of Laramie WY4.000% 05/01/20250.0%
Wisconsin Health & Educational Facilities Authorit3.500% 08/01/20220.0%
Village Community Development District No 132.625% 05/01/20240.0%
County of Laramie WY4.000% 05/01/20260.0%
Allentown Neighborhood Improvement Zone Developmen5.000% 05/01/20230.0%
Montgomery County Industrial Development Authority4.000% 01/01/20230.0%
Peninsula Town Center Community Development Author4.000% 09/01/20230.0%
Industrial Development Authority of the City of Ph5.000% 07/01/20260.0%
Pennsylvania Turnpike Commission5.000% 12/01/20250.0%
Downtown Doral South Community Development Distric3.875% 12/15/20230.0%
City of Sparks NV2.500% 06/15/20240.0%
Industrial Development Authority of the City of Ph5.000% 07/01/20230.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 04/21/2021
$0.040
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 03/31/2021 $0.01196 $15.86
Daily Daily 02/28/2021 $0.01491 $15.84
Daily Daily 01/31/2021 $0.01318 $15.96

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 04/30/2021
Daily Daily 05/31/2021
Daily Daily 06/30/2021
Daily Daily 07/31/2021
Daily Daily 08/31/2021
Daily Daily 09/30/2021
Daily Daily 10/31/2021
Daily Daily 11/30/2021
Daily Daily 12/31/2021

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
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Upcoming Capital Gain Distribution

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
12/21/2021 12/22/2021

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 04/21/2021

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $16.29
$100,000 to $249,999 1.75% 1.50% $16.20
$250,000 to $499,999 1.25% 1.00% $16.12
$500,000 to $999,999 0.00% 1.00% $15.92
$1,000,000 to $5,000,000 0.00% 1.00% $15.92

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers Click here.

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

  • Rights of Accumulation - A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.

  • Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

  • purchases of $1 million or more (may be subject to a CDSC);
  • purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
  • purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
  • purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
  • certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

 

Expense Ratioas of 03/31/2021

Fund Gross Expense Ratio Fund Net Expense Ratio
0.66% 0.65%

Expense ratio details, Click here.

Fund Documents

Fund Documents

Download fund documents & literature, create email subscriptions, and place direct mail order

0Documents selected
Order
n/a
Portfolio Holdings 1Q
Publish Date:11/03/2015
n/a
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
n/a
Statutory Prospectus
Publish Date:11/03/2015
n/a
Prospectus (XBRL)
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

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

The Short Duration Tax Free Fund A share rankings within the Lipper Short Municipal Debt Funds Funds Average as of 12/31/2019 for the one-year time period was 5% (6/136); five year, 26% (25/98); and 10-year, 20% (13/67). Source: Lipper Analytical Services. Lipper Funds Average ranking reflect all share classes within the category and are based on total return and do not reflect the effect of sales charges.

 

+

Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

3

The Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

 

4

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

 

5

The 30-day Standardized Subsidized yield reflects fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

6

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance. Past performance is no guarantee of future results.

Although the Short Duration Tax Free Fund may invest significantly in money market securities and their equivalents for investment purposes as well as for cash management purposes, it is not a money market fund and is not subject to the regulatory requirements applicable to money market funds.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The Bloomberg Barclays Municipal Bond Short 1-5 Year Index is the Muni Short 1-5 year component of the Municipal Bond index. The Bloomberg Barclays 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. 

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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