LTRFX | Total Return Fund Class F | Lord Abbett
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Total Return Fund

Summary

Summary

What is the Total Return Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in U.S. investment grade corporate, government, and mortgage- and asset-backed securities, with select allocations to high yield and foreign debt securities.

 

EXPERIENCED INVESTMENT TEAM

Managed through collaboration among 40+ investment professionals in portfolio management, credit research, and trading.

DISCIPLINED, FLEXIBLE APPROACH

Utilizes a blend of fundamental research and quantitative analysis in seeking to add value through sector rotation, security selection, and rigorous risk management.

CONSISTENT, RISK-ADJUSTED RETURNS

Has offered a track record of generating above-average returns with below-average risk in a variety of market environments, versus its peers in the Morningstar Intermediate-Term Bond Category.

Yield

Dividend Yield 1 as of 12/02/2020  

w/o sales charge 2.16%

30-Day Standardized Yield 2 as of 10/31/2020  

1.52%

Fund Basicsas of 10/30/2020

Total Net Assets
$4.18 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Expense Ratio
0.58%
Number of Holdings
576

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 6.72% 6.84% 4.84% 4.27% 4.05% 4.96%
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg Barclays U.S. Aggregate Bond Index 7.36% 7.28% 5.45% 4.34% 3.71% 4.48%

Fund Expense Ratio :

0.58%

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 5.27% 5.53% 4.35% 4.01% 3.88% 4.92%
Lipper Category Avg. Core Bond Funds 6.69% 6.90% 4.97% 4.15% 3.64% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.79% 6.98% 5.24% 4.18% 3.64% 4.49%

Fund Expense Ratio :

0.58%

Type Assets
Investment Grade Corporate
MBS
U.S. Government Related
ABS
High Yield Corporate
CMBS
Sovereign
Bank Loans
Other
Cash
Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

Credit Quality Distribution as of 10/30/2020 View Portfolio

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

INVESTMENT TEAM

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner & Portfolio Manager

22 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

Supported By 62 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 12/02/2020  

w/o sales charge 2.16%

30-Day Standardized Yield 2 as of 10/31/2020  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.52% 1.52%

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 6.72% 6.84% 4.84% 4.27% 4.05% 4.96%
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg Barclays U.S. Aggregate Bond Index 7.36% 7.28% 5.45% 4.34% 3.71% 4.48%

Fund Expense Ratio :

0.58%

Fund Expense Ratio :

0.58%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 5.27% 5.53% 4.35% 4.01% 3.88% 4.92%
Lipper Category Avg. Core Bond Funds 6.69% 6.90% 4.97% 4.15% 3.64% -
Bloomberg Barclays U.S. Aggregate Bond Index 6.79% 6.98% 5.24% 4.18% 3.64% 4.49%

Fund Expense Ratio :

0.58%

Year Fund Returns Bloomberg Barclays U.S. Aggregate Bond Index
2019 8.42% 8.72%
2018 -0.83% 0.01%
2017 3.92% 3.54%
2016 4.14% 2.65%
2015 -0.54% 0.55%
2014 6.22% 5.97%
2013 -1.30% -2.02%
2012 7.84% 4.22%
2011 7.31% 7.84%
2010 7.82% 6.54%
2009 15.95% -
2008 -1.22% -
2007 5.31% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -1.15% 4.45% 1.95% - 6.44%
2019 3.25% 3.02% 1.68% 0.25% 8.42%
2018 -1.49% -0.33% 0.28% 0.71% -0.83%
2017 1.16% 1.45% 0.86% 0.40% 3.92%
2016 2.84% 2.64% 1.26% -2.56% 4.14%
2015 1.61% -1.47% -0.02% -0.62% -0.54%
2014 2.36% 2.53% 0.08% 1.14% 6.22%
2013 0.52% -2.79% 0.52% 0.49% -1.30%
2012 1.85% 1.87% 2.83% 1.07% 7.84%
2011 0.94% 2.11% 2.50% 1.56% 7.31%
2010 2.47% 2.88% 3.34% -1.02% 7.82%
2009 2.59% 5.59% 6.28% 0.72% 15.95%
2008 1.00% -0.01% -1.94% -0.24% -1.22%
2007 1.44% -0.68% 2.18% 2.29% 5.31%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
MBS
U.S. Government Related
ABS
High Yield Corporate
CMBS
Sovereign
Bank Loans
Other
Cash
Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

Credit Quality Distribution as of 10/30/2020

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

Portfolio Positioning as of 9/30/2020

  • We modestly increased the Fund’s allocation to high yield emerging market debt as we saw attractive relative value within the asset class.
  • We decreased the Fund’s allocation to asset-backed securities (ABS) over the quarter, as the asset class has experienced significant spread tightening and we found attractive relative value elsewhere, however we maintained our overweight position to the sector. We favor high quality ABS that are backed by credit cards and auto loans, and we have avoided areas of the market that have been more directly exposed to the impact of the coronavirus (such as container and aircraft ABS).
  • We feel valuations are attractive compared to underlying economic fundamentals.  The Fed continues to provide an environment of significantly low volatility, negative real yields, and support to maintain market liquidity.

Portfolio Details as of 10/30/2020

Total Net Assets
$4.18 B
Number of Issues
576
Average Coupon
3.18%
Average Life
6.2 Years
Average Maturity
6.2 Years
Average Effective Duration
5.72 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 12/02/2020
$0.254
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2020 $0.01955 $10.91
Daily Daily 10/31/2020 $0.01902 $10.75
Daily Daily 09/30/2020 $0.02144 $10.80
Daily Daily 08/31/2020 $0.02283 $10.84
Daily Daily 07/31/2020 $0.02364 $10.90
Daily Daily 06/30/2020 $0.02458 $10.66
Daily Daily 05/31/2020 $0.02520 $10.57
Daily Daily 04/30/2020 $0.02683 $10.46
Daily Daily 03/31/2020 $0.02619 $10.28
Daily Daily 02/29/2020 $0.02313 $10.77
Daily Daily 01/31/2020 $0.02244 $10.66

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2020

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/15/2016 12/16/2016 - $0.0324 $0.0324 $10.17

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/17/2020 12/18/2020

Fees & Expenses

Fees & Expenses

Expense Ratioas of 10/31/2020

0.58%

Fund Documents

Fund Documents

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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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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
Publish Date:11/03/2015

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Class F - The inception date for Class F shares is September 28, 2007. The performance quotations for Class F are based on the following methods of calculation: (a) for periods prior to September 28, 2007, a restated figure is used based on the Fund's Class I performance, which does not have a 12b-1 fee, adjusted to reflect the Rule 12b-1 rate differential between Class I and Class F; and (b) for periods after September 28, 2007, actual Class F performance is used reflecting all charges and fees applicable to Class F shares.

Class F shares are available only to eligible fee-based advisory programs and certain registered investment advisers. For additional information, see the Fund’s current prospectus.

Class F - The inception date for Class F Shares is August 31, 2020. The performance quotations for Class F are based on the following methods of calculation: (a) for periods prior to August 31, 2020, a restated figure is used based on the Fund's Class I performance, adjusted to reflect the fees and expenses of Class F Shares ; and (b) for periods after August 31, 2020, actual Class F performance is used reflecting all charges and fees applicable to Class F shares.

Class F shares are available only to eligible fee-based advisory programs and certain registered investment advisers. For additional information, see the Fund’s current prospectus.

The Barclays U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. 

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