Sustainable Municipal Bond Fund

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Sustainable Municipal Bond Fund

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Daily price w/o sales charge as of 05/20/2022

$9.04

arrowUp$0.03

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

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Summary

Summary

What is the Sustainable Municipal Bond Fund?

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

Yield

Dividend Yield 1 as of 05/20/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.85% 1.75%

30-Day Standardized Yield 2 as of 04/30/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.69% 1.43%

Fund Basicsas of 03/31/2022

Total Net Assets
$4.77 M
Inception Date
01/24/2022
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.49%
Fund Net Expense Ratio
0.39%
Number of Holdings
33

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 - - - - - -7.52%
Lipper Category Avg. Intermediate Municipal Debt Funds - - - - - -
Bloomberg 1-15 Year Municipal Index - - - - - -6.21%

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 - - - - - -4.75%
Lipper Category Avg. Intermediate Municipal Debt Funds - - - - - -
Bloomberg 1-15 Year Municipal Index - - - - - -4.20%

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.

The Muni Quarterly

The Muni Quarterly offers insights from our analysts on key topics for municipal bond investors, along with essential market information.

Maturity Assets
5-5.99
9-9.99
14-14.99
0-.99
15-15.99
13-13.99
8-8.99
4-4.99
7-7.99
10-10.99
17-17.99
6-6.99
27-27.99
18-18.99
19-19.99
12-12.99
22-22.99

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

CREDIT QUALITY DISTRIBUTION as of 03/31/2022 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

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

35 Years of Industry Experience

Greg Shuman
Gregory M. Shuman, CFA

Portfolio Manager

12 Years of Industry Experience

Eric Friedland
Eric M. Friedland, CFA

Director of Municipal Bond Research

37 Years of Industry Experience

Daniel S. Solender
Christopher T. English, CFA

Portfolio Manager

12 Years of Industry Experience

Supported By 15 Investment Professionals with 14 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 05/20/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.85% 1.75%

30-Day Standardized Yield 2 as of 04/30/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.69% 1.43%

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 - - - - - -7.52%
Lipper Category Avg. Intermediate Municipal Debt Funds - - - - - -
Bloomberg 1-15 Year Municipal Index - - - - - -6.21%

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 - - - - - -4.75%
Lipper Category Avg. Intermediate Municipal Debt Funds - - - - - -
Bloomberg 1-15 Year Municipal Index - - - - - -4.20%

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 04/30/2022

Fund Gross Expense Ratio Fund Net Expense Ratio
0.49% 0.39%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015

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IMPORTANT INFORMATION

 

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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.      

                    

 

IMPORTANT INFORMATION

 

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investing strategy.

 

A Note ABout Risk: The value of an investment in the Fund will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the prices of debt securities tend to rise. A portion of the income derived from the Fund's portfolio may be subject to the alternative minimum tax. Any capital gains realized may be subject to taxation. Federal, state, and local taxes may apply. There is a risk that a bond issued as tax-exempt may be reclassified by the IRS as taxable, creating taxable rather than tax-exempt income. The Fund is subject to the risk that its investment strategy’s consideration of sustainability-related factors may result in the selection or exclusion of securities of certain investments based on Lord Abbett’s view of these factors and carries the risk that the Fund may underperform funds that do not take sustainability-related factors into account. Sustainability factors may affect the Fund’s exposure to certain issuers, sectors, regions, countries or types of investments, which could negatively impact the Fund’s performance depending on whether such investments are in or out of favor. Certain sustainability-related investments may be dependent on government policies and subsidies, which are subject to change or elimination. Below investment grade bonds involve higher risk than investment grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on those securities. In addition, the Fund is subject to other types of risks, such as call, credit, liquidity, interest rate, and general market risks. From time to time, the Fund may be more exposed to risks affecting a particular state, territory (such as Puerto Rico), municipality, or region. As a result, adverse economic, political, and regulatory conditions affecting a single state, territory, municipality, or region (and their political subdivisions, agencies, instrumentalities, and public authorities) can disproportionately affect the Fund’s performance. These factors can adversely affect Fund performance.

 

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.

 

 

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 1-15 Year Municipal Bond index is the 1-15 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.

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.

 

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.

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.

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