LTRRX | Total Return Fund Class R3 | Lord Abbett

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Total Return Fund

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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 06/24/2022  

w/o sales charge 2.73%

30-Day Standardized Yield 2 as of 05/31/2022  

3.15%

Fund Basicsas of 05/31/2022

Total Net Assets
$3.35 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Expense Ratio
0.94%
Number of Holdings
450

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -9.39% -8.61% -0.11% 0.81% 1.72% 3.41%
Lipper Category Avg. Core Bond Funds -9.18% -8.64% 0.19% 1.18% 1.79% -
Bloomberg U.S. Aggregate Bond Index -8.92% -8.22% 0.00% 1.18% 1.71% 3.25%

Fund Expense Ratio :

0.94%

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -5.83% -3.72% 1.67% 1.87% 2.27% 3.73%
Lipper Category Avg. Core Bond Funds -5.93% -4.30% 1.96% 2.21% 2.34% -
Bloomberg U.S. Aggregate Bond Index -5.93% -4.15% 1.69% 2.14% 2.24% 3.52%

Fund Expense Ratio :

0.94%

Type Assets
Investment Grade Corporate
U.S. Government Related
MBS
ABS
High Yield Corporate
CMBS
CLO
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 05/31/2022 View Portfolio

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

INVESTMENT TEAM

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

28 Years of Industry Experience

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

Partner & Portfolio Manager

24 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

21 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

31 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

14 Years of Industry Experience

Leah G. Traub
Leah G. Traub, Ph.D.

Partner & Portfolio Manager

21 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

22 Years of Industry Experience

Supported By 67 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 06/24/2022  

w/o sales charge 2.73%

30-Day Standardized Yield 2 as of 05/31/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.15% 3.15%

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -9.39% -8.61% -0.11% 0.81% 1.72% 3.41%
Lipper Category Avg. Core Bond Funds -9.18% -8.64% 0.19% 1.18% 1.79% -
Bloomberg U.S. Aggregate Bond Index -8.92% -8.22% 0.00% 1.18% 1.71% 3.25%

Fund Expense Ratio :

0.94%

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -5.83% -3.72% 1.67% 1.87% 2.27% 3.73%
Lipper Category Avg. Core Bond Funds -5.93% -4.30% 1.96% 2.21% 2.34% -
Bloomberg U.S. Aggregate Bond Index -5.93% -4.15% 1.69% 2.14% 2.24% 3.52%

Fund Expense Ratio :

0.94%

Year Fund Returns Bloomberg U.S. Aggregate Bond Index
2021 -0.31% -1.54%
2020 6.94% 7.51%
2019 8.10% 8.72%
2018 -1.23% 0.01%
2017 3.42% 3.54%
2016 3.74% 2.65%
2015 -0.93% 0.55%
2014 5.81% 5.97%
2013 -1.69% -2.02%
2012 7.41% 4.22%
2011 6.89% -
2010 7.39% -
2009 15.52% -
2008 -1.46% -
2007 5.12% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -5.83% - - - -11.74%
2021 -2.50% 2.30% -0.03% -0.02% -0.31%
2020 -1.24% 4.35% 1.85% 1.89% 6.94%
2019 3.25% 2.92% 1.48% 0.24% 8.10%
2018 -1.49% -0.42% 0.18% 0.51% -1.23%
2017 1.06% 1.36% 0.76% 0.20% 3.42%
2016 2.74% 2.54% 1.16% -2.66% 3.74%
2015 1.51% -1.57% -0.12% -0.72% -0.93%
2014 2.26% 2.43% -0.11% 1.13% 5.81%
2013 0.42% -2.89% 0.42% 0.39% -1.69%
2012 1.75% 1.87% 2.63% 0.97% 7.41%
2011 0.94% 2.01% 2.31% 1.46% 6.89%
2010 2.37% 2.78% 3.23% -1.12% 7.39%
2009 2.49% 5.49% 6.19% 0.62% 15.52%
2008 0.95% -0.07% -2.00% -0.33% -1.46%
2007 1.44% -0.79% 2.21% 2.19% 5.12%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
U.S. Government Related
MBS
ABS
High Yield Corporate
CMBS
CLO
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 05/31/2022

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

Portfolio Positioning as of 3/31/2022

  • Over the quarter, we added to the portfolio’s bank loan allocation as we continue to favor floating rate credit risk. We believe the asset class will continue to benefit from strong fundamentals and robust technicals.
  • We added to agency mortgage-backed securities (MBS) over the quarter - closing some of our underweight relative to the benchmark and peers. This decision was a relative value trade on recent weakness/underperformance of agency MBS versus other fixed income sectors. However, we plan on remaining underweight agency MBS as the technical backdrop is poor for the asset class given the Fed is likely to shift from a net buyer to net seller by year end.
  • In addition, we added to non-agency RMBS - both non-qualified mortgages and credit risk transfer securities (CRT). We believe strong buyer and refi activity will continue supporting the non-QM market. Also, CRT securities provide a liquid source to gain residential housing credit exposure through mortgages that have been underwritten by government sponsored entities (GSE). Both allocations provide strong risk-adjusted carry, in our opinion.
  • We used the sales of U.S. Treasuries and cash equivalents to fund the purchases of these additions over the quarter.

Portfolio Details as of 05/31/2022

Total Net Assets
$3.35 B
Number of Issues
450
Average Coupon
3.37%
Average Life
7.27 Years
Average Maturity
7.24 Years
Average Effective Duration
6.46 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 06/24/2022
$0.091
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 05/31/2022 $0.02076 $9.38
Daily Daily 04/30/2022 $0.01900 $9.43
Daily Daily 03/31/2022 $0.01906 $9.79
Daily Daily 02/28/2022 $0.01654 $10.09
Daily Daily 01/31/2022 $0.01597 $10.23

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 06/30/2022
Daily Daily 07/31/2022
Daily Daily 08/31/2022
Daily Daily 09/30/2022
Daily Daily 10/31/2022
Daily Daily 11/30/2022
Daily Daily 12/31/2022

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 $0.0629 - $0.0629 $10.49

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/19/2022 12/20/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 05/31/2022

0.94%

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
Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
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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The Bloomberg 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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