LTROX | Total Return Fund Class F3 | 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.

Fund Basicsas of 09/30/2020

Total Net Assets
$4.21 B
Inception Date
04/05/2017
Dividend Frequency
Monthly (Daily Accrual)
Fund Expense Ratio
0.37%
Number of Holdings
587
Type Assets
Investment Grade Corporate
U.S. Government Related
MBS
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 09/30/2020 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-Director of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Director 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

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
U.S. Government Related
MBS
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 09/30/2020

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

Portfolio Positioning as of 6/30/2020

  • Over the quarter the largest change in the portfolio composition was a decrease in the U.S. Treasury allocation. With rates rallying in the first quarter as investors flocked into Treasuries and moved out of corporate credit, we saw an opportunity to sell Treasuries in order to aim to take advantage of attractive relative value in risk-on sectors. We also modestly decreased the portfolio’s allocation to CMBS.
  • We used the proceeds from sales of U.S. Treasuries and added to the portfolio’s allocation to corporate credit – both investment grade and high yield. Most notably, we added to corporate issues within consumer non-cyclical, technology, and energy sectors. We believe these sectors will continue to benefit from the gradual re-opening of the economy.
  • We maintained our overweight position within asset-backed securities (ABS). 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).

Portfolio Details as of 09/30/2020

Total Net Assets
$4.21 B
Number of Issues
587
Average Coupon
3.23%
Average Life
6.78 Years
Average Maturity
6.78 Years
Average Effective Duration
5.92 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2020 $0.02318 $10.81
Daily Daily 08/31/2020 $0.02463 $10.85
Daily Daily 07/31/2020 $0.02544 $10.91
Daily Daily 06/30/2020 $0.02633 $10.67
Daily Daily 05/31/2020 $0.02703 $10.57
Daily Daily 04/30/2020 $0.02857 $10.46
Daily Daily 03/31/2020 $0.02799 $10.28
Daily Daily 02/29/2020 $0.02483 $10.77
Daily Daily 01/31/2020 $0.02425 $10.66

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

Fees & Expenses

Fees & Expenses

Fund Documents

Fund Documents

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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
Publish Date:11/03/2015

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Class F3 - The inception date for Class F3 shares is April 4, 2017. The performance quotations for Class F3 are based on the following methods of calculation: (a) for periods prior to June 30, 2015,  a figure is used based on the historical performance of the Fund’s Class I Shares, since inception, restated to reflect all charges and fees applicable to Class F3 shares; (b) for periods prior to April 4, 2017 but after June 30, 2015, performance is based on the historical performance of the Fund’s Class R6 shares, which have an equivalent expense ratio to the Fund’s F3 shares; and (c) for periods after April 4, 2017, actual Class F3 performance is used, which reflects all charges and fees applicable to Class F3 shares.

Class F3 shares are only offered to certain eligible investors. 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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