Sustainable Municipal Bond Fund
Daily price w/o sales charge as of 10/06/2022
$8.86
$0.01
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
Yield
Dividend Yield 1 as of 10/06/2022
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 2.57% | 2.47% |
30-Day Standardized Yield 2 as of 08/31/2022
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 2.78% | 0.98% |
Fund Basicsas of 08/31/2022
- Total Net Assets
- $4.60 M
- Inception Date
- 01/24/2022
- Dividend Frequency
- Monthly
- Fund Gross Expense Ratio
- 0.49%
- Fund Net Expense Ratio
- 0.39%
- Number of Holdings
- 34
Fund Expense Ratio :
Gross 0.49%
Net 0.39%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/20/2022 |
|---|
| w/o sales charge | - | - | - | - | - | -10.69% |
| Lipper Category Avg. Intermediate Municipal Debt Funds | - | - | - | - | - | - |
| Bloomberg 1-15 Year Municipal Index | - | - | - | - | - | -8.12% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 0.49%
Net 0.39%
Fund Expense Ratio :
Gross 0.49%
Net 0.39%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/20/2022 |
|---|
| w/o sales charge | - | - | - | - | - | -10.69% |
| Lipper Category Avg. Intermediate Municipal Debt Funds | - | - | - | - | - | - |
| Bloomberg 1-15 Year Municipal Index | - | - | - | - | - | -8.12% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 0.49%
Net 0.39%
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.
CREDIT QUALITY DISTRIBUTION as of 08/31/2022 View Portfolio
| Rating | Assets |
|---|---|
| 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
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Portfolio
Portfolio
PORTFOLIO BREAKDOWN as of 08/31/2022
| Sector | Assets |
|---|---|
| Healthcare/Hospital | |
| Education | |
| Transportation | |
| GO Local | |
| IDR/PCR | |
| Housing | |
| Water & Sewer | |
| Lease |
The Fund's portfolio is actively managed and is subject to change.
PORTFOLIO BREAKDOWN as of 08/31/2022
| Maturity | Assets |
|---|---|
| 5-5.99 | |
| 6-6.99 | |
| 14-14.99 | |
| 9-9.99 | |
| 12-12.99 | |
| 7-7.99 | |
| 8-8.99 | |
| 4-4.99 | |
| 17-17.99 | |
| 10-10.99 | |
| 27-27.99 | |
| 3-3.99 | |
| 0-.99 |
The Fund's portfolio is actively managed and is subject to change.
PORTFOLIO BREAKDOWN as of 08/31/2022
| Rating | Assets |
|---|---|
| CA | |
| NY | |
| TX | |
| MD | |
| OH | |
| IL | |
| NJ | |
| DC | |
| CT | |
| CO | |
| MN | |
| IA | |
| FL |
Credit QUALITY DISTRIBUTION as of 08/31/2022
| Rating | Assets |
|---|---|
| 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 Details as of 08/31/2022
- Total Net Assets
- $4.60 M
- Number of Issues
- 34
- Average Coupon
- 4.7%
- Average Effective Maturity
- 9.4 Years
- Average Effective Duration
- 5.97 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 |
|---|
| Tarrant County Cultural Education Facilities Finan | 5.000% | 07/01/2053 | 6.0% |
| Board of Managers Joint Guadalupe County-City of S | 4.000% | 12/01/2026 | 4.3% |
| Metropolitan Transportation Authority | 5.000% | 11/15/2032 | 4.0% |
| District of Columbia | 5.000% | 07/01/2037 | 4.0% |
| Connecticut State Health & Educational Facilities | 5.000% | 07/01/2028 | 4.0% |
| Colorado Health Facilities Authority | 5.000% | 05/15/2062 | 3.6% |
| County of Franklin OH | 5.000% | 12/01/2036 | 3.6% |
| State of Ohio | 5.000% | 01/15/2032 | 3.6% |
| New York State Dormitory Authority | 5.000% | 07/15/2029 | 3.5% |
| Maryland Economic Development Corp | 5.000% | 11/12/2028 | 3.5% |
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 of08/31/2022
| Holding | Coupon | Maturity | Assets |
|---|
| Tarrant County Cultural Education Facilities Finan | 5.000% | 07/01/2053 | 6.0% |
| Board of Managers Joint Guadalupe County-City of S | 4.000% | 12/01/2026 | 4.3% |
| Metropolitan Transportation Authority | 5.000% | 11/15/2032 | 4.0% |
| District of Columbia | 5.000% | 07/01/2037 | 4.0% |
| Connecticut State Health & Educational Facilities | 5.000% | 07/01/2028 | 4.0% |
| Colorado Health Facilities Authority | 5.000% | 05/15/2062 | 3.6% |
| County of Franklin OH | 5.000% | 12/01/2036 | 3.6% |
| State of Ohio | 5.000% | 01/15/2032 | 3.6% |
| New York State Dormitory Authority | 5.000% | 07/15/2029 | 3.5% |
| Maryland Economic Development Corp | 5.000% | 11/12/2028 | 3.5% |
| New York State Dormitory Authority | 5.000% | 07/01/2031 | 3.5% |
| California Community Choice Financing Authority | 4.000% | 05/01/2053 | 3.3% |
| Minnesota Higher Education Facilities Authority | 4.000% | 10/01/2036 | 3.3% |
| California Educational Facilities Authority | 4.000% | 10/01/2039 | 3.3% |
| City of Chicago IL Waterworks Revenue | 5.000% | 11/01/2029 | 3.3% |
| Iowa Higher Education Loan Authority | 5.000% | 10/01/2027 | 3.0% |
| Dutchess County Local Development Corp | 5.000% | 07/01/2027 | 2.9% |
| Foothill-Eastern Transportation Corridor Agency | 5.000% | 01/15/2028 | 2.9% |
| California Community Choice Financing Authority | 4.000% | 10/01/2052 | 2.9% |
| New Jersey Economic Development Authority | 5.000% | 06/15/2035 | 2.8% |
| Maryland Community Development Administration | 3.500% | 03/01/2050 | 2.7% |
| New Jersey Transportation Trust Fund Authority | 5.000% | 06/15/2030 | 2.6% |
| Chicago Board of Education | 4.000% | 12/01/2039 | 2.6% |
| Triborough Bridge & Tunnel Authority | 5.000% | 11/15/2029 | 2.4% |
| County of Osceola FL Transportation Revenue | 5.000% | 10/01/2028 | 2.4% |
| Cleveland State University | 5.000% | 06/01/2031 | 2.3% |
| New York State Dormitory Authority | 5.000% | 07/01/2026 | 2.2% |
| San Gorgonio Memorial Health Care District | 5.000% | 08/01/2035 | 2.2% |
| Palomar Health | 4.000% | 08/01/2035 | 2.2% |
| California Housing Finance Agency | 3.750% | 03/25/2035 | 2.1% |
| Build NYC Resource Corp | 2.500% | 06/15/2031 | 1.9% |
| Lee Memorial Health System | 5.000% | 04/01/2029 | 1.2% |
| Stephen F Austin State University | 5.000% | 10/15/2028 | 0.6% |
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.
Performance
Performance
Dividend Yield 1 as of 10/06/2022
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 2.57% | 2.47% |
30-Day Standardized Yield 2 as of 08/31/2022
| Subsidized5 | Un-Subsidized6 | |
|---|---|---|
| w/o sales charge | 2.78% | 0.98% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Fund Expense Ratio :
Gross 0.49%
Net 0.39%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/20/2022 |
|---|
| w/o sales charge | - | - | - | - | - | -10.69% |
| Lipper Category Avg. Intermediate Municipal Debt Funds | - | - | - | - | - | - |
| Bloomberg 1-15 Year Municipal Index | - | - | - | - | - | -8.12% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 0.49%
Net 0.39%
Fund Expense Ratio :
Gross 0.49%
Net 0.39%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/20/2022 |
|---|
| w/o sales charge | - | - | - | - | - | -10.69% |
| Lipper Category Avg. Intermediate Municipal Debt Funds | - | - | - | - | - | - |
| Bloomberg 1-15 Year Municipal Index | - | - | - | - | - | -8.12% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 0.49%
Net 0.39%
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.
Fees & Expenses
Fees & Expenses
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 of the 18-month anniversary of the purchase.
Expense Ratioas of 09/30/2022
| Fund Gross Expense Ratio | Fund Net Expense Ratio | |
|---|---|---|
| 0.49% | 0.39% |
Expense ratio details, Click here.
The net expense is based on estimates for the current fiscal year and takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 01/31/2023. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.
Fund Documents
Fund Documents
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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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SAI
Publish Date:11/03/2015
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Semi-Annual Report
Publish Date:11/03/2015
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Fact Sheet
Publish Date:11/03/2015
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