LTRKX | Total Return Fund Class R4 | Lord Abbett

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Total Return Fund

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Daily price w/o sales charge as of 10/06/2022

$8.66

arrowDown$0.03

YTD Returns w/o sales charge as of 10/06/2022

-15.23%

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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 10/06/2022  

w/o sales charge 3.70%

30-Day Standardized Yield 2 as of 08/31/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.05% 4.04%

Fund Basicsas of 08/31/2022

Total Net Assets
$3.20 B
Inception Date
06/30/2015
Dividend Frequency
Monthly
Fund Expense Ratio
0.69%
Number of Holdings
471

Fund Expense Ratio :

0.69%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -15.48% -15.44% -3.18% -0.52% 0.95% -
Lipper Category Avg. Core Bond Funds -15.00% -15.16% -3.08% -0.31% 0.87% -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% 0.89% -

Fund Expense Ratio :

0.69%

Fund Expense Ratio :

0.69%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -15.48% -15.44% -3.18% -0.52% 0.95% -
Lipper Category Avg. Core Bond Funds -15.00% -15.16% -3.08% -0.31% 0.87% -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% 0.89% -

Fund Expense Ratio :

0.69%

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.

Type Assets
MBS
Investment Grade Corporate
U.S. Government Related
ABS
High Yield Corporate
CMBS
CLO
Sovereign
Bank Loans
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 08/31/2022 View Portfolio

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

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. 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 may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

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

Partner, 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 10/06/2022  

w/o sales charge 3.70%

30-Day Standardized Yield 2 as of 08/31/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 4.05% 4.04%

Fund Expense Ratio :

0.69%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -15.48% -15.44% -3.18% -0.52% 0.95% -
Lipper Category Avg. Core Bond Funds -15.00% -15.16% -3.08% -0.31% 0.87% -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% 0.89% -

Fund Expense Ratio :

0.69%

Fund Expense Ratio :

0.69%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -15.48% -15.44% -3.18% -0.52% 0.95% -
Lipper Category Avg. Core Bond Funds -15.00% -15.16% -3.08% -0.31% 0.87% -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% 0.89% -

Fund Expense Ratio :

0.69%

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.

Year Fund Returns Bloomberg U.S. Aggregate Bond Index
2021 -0.06% -1.54%
2020 7.21% 7.51%
2019 8.26% 8.72%
2018 -0.98% 0.01%
2017 3.78% 3.54%
2016 4.00% 2.65%
2015 -0.68% 0.55%
2014 6.06% 5.97%
2013 -1.44% -2.02%
2012 7.66% 4.22%
2011 7.14% -
2010 7.66% -
2009 15.79% -
2008 -1.21% -
2007 5.79% -
2006 4.37% -
2005 2.41% -
2004 4.31% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -5.77% -6.06% -4.51% - -15.23%
2021 -2.34% 2.26% 0.03% 0.04% -0.06%
2020 -1.18% 4.51% 1.82% 1.96% 7.21%
2019 3.21% 2.98% 1.64% 0.21% 8.26%
2018 -1.52% -0.36% 0.24% 0.67% -0.98%
2017 1.13% 1.42% 0.82% 0.36% 3.78%
2016 2.81% 2.70% 1.13% -2.60% 4.00%
2015 1.57% -1.51% -0.07% -0.65% -0.68%
2014 2.32% 2.49% 0.05% 1.10% 6.06%
2013 0.48% -2.82% 0.48% 0.46% -1.44%
2012 1.81% 1.93% 2.69% 1.03% 7.66%
2011 1.00% 2.07% 2.37% 1.52% 7.14%
2010 2.43% 2.84% 3.29% -1.05% 7.66%
2009 2.45% 5.65% 6.25% 0.69% 15.79%
2008 1.01% -0.01% -2.02% -0.17% -1.21%
2007 1.41% -0.72% 2.75% 2.26% 5.79%
2006 -0.35% -0.25% 3.74% 1.20% 4.37%
2005 -0.25% 2.95% -0.68% 0.41% 2.41%
2004 - - - 1.09% 4.31%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
MBS
Investment Grade Corporate
U.S. Government Related
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 08/31/2022

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

Portfolio Positioning as of 6/30/2022

  • During the quarter we focused on shifting the Fund’s overall positioning to be higher quality and liquidity. Specifically, we used less volatile market days to take gains in lower quality holdings and repositioned the portfolio to a higher quality profile.
  • The sales of lower quality holdings were primarily within the high yield bond and bank loan allocations. Within both leveraged credit sectors, we focused on selling securities at the bottom of the credit stack as well as consumer cyclical issues. Overall, while we took down the Fund’s weight and risk within each leveraged credit sector, we have maintained these allocations with a bias for BB’s and basic industry names while remaining cautious of exposure to securities further down the credit stack and those within the consumer cyclical category.
  • We used the proceeds from selling lower quality holdings to purchase agency residential mortgage-backed securities (MBS) – decreasing a notable underweight to the sector. We believe that the sector is relatively cheap as it has underperformed year-to-date and this shift aligns with the portfolio’s up-in-quality and up-in-liquidity themes. Specifically, we bought up-in-coupon MBS with a focus on 5/5.5’s and some specified pools which are offering an attractive pickup in carry versus the to-be-announced (TBA) market.
  • We maintained the portfolio’s positions within other securitized products – asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), non-agency mortgage-backed securities (RMBS), and collateralized loan obligations (CLO) – over the period. We continued to believe in the benefit of a true multi-sector portfolio and believe the securitized product exposure provides diversification benefits. Also, we focused on shifting the securitized product allocations up-in-quality across the board as part of the broader portfolio theme.
  • We also added to the portfolio’s allocation to sovereign, supranational, and agency (SSA) issues – also aligning with the higher quality theme. We’ve identified short maturity SSA bonds that are providing an attractive pick-up in yield versus U.S. Treasuries.
  • Within investment grade corporate bonds, we focused on shifting the positions up-in-quality from BBB’s to A’s with a focus on adding to the financials, utilities, industrials, and consumer noncyclical sectors. We also favored shorter-term tenors when adding to high-quality investment grade corporate bonds over the quarter. We sold out of idiosyncratic investment grade credits within the consumer cyclical sector and exited some lower-quality industrial names. We maintained our overweight position to the energy sector based on fundamentals and potential tailwinds from continued persistent inflation.

Portfolio Details as of 08/31/2022

Total Net Assets
$3.20 B
Number of Issues
471
Average Coupon
3.81%
Average Life
7.96 Years
Average Maturity
7.93 Years
Average Effective Duration
6.1 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 Life - Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security.  Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.

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
United States Treasury Note/Bond 3.250% 08/31/2024 5.3%
United States Treasury Note/Bond 2.750% 07/31/2027 4.3%
United States Treasury Note/Bond 3.250% 05/15/2042 2.3%
United States Treasury Note/Bond 3.000% 06/30/2024 2.1%
30-YR UMBS-TBA PROD OCT 4.500% 05/01/2052 1.9%
United States Treasury Note/Bond 2.875% 05/15/2052 1.8%
Federal Home Loan Banks 0.000% 09/26/2022 1.8%
30-YR UMBS-TBA PROD SEP 3.000% 03/01/2052 1.8%
30-YR UMBS-TBA PROD SEP 3.500% 04/01/2052 1.7%
30-YR GNMA II-TBA PROD SEP 4.500% 07/01/2052 1.7%
% of Total Assets 24.7%
Holding Coupon Maturity Assets
United States Treasury Note/Bond3.250% 08/31/20245.3%
United States Treasury Note/Bond2.750% 07/31/20274.3%
United States Treasury Note/Bond3.250% 05/15/20422.3%
United States Treasury Note/Bond3.000% 06/30/20242.1%
30-YR UMBS-TBA PROD OCT4.500% 05/01/20521.9%
United States Treasury Note/Bond2.875% 05/15/20521.8%
Federal Home Loan Banks0.000% 09/26/20221.8%
30-YR UMBS-TBA PROD SEP3.000% 03/01/20521.8%
30-YR UMBS-TBA PROD SEP3.500% 04/01/20521.7%
30-YR GNMA II-TBA PROD SEP4.500% 07/01/20521.7%
30-YR UMBS-TBA PROD SEP4.500% 05/01/20521.3%
30-YR UMBS-TBA PROD OCT3.500% 04/01/20521.2%
Fannie Mae Pool2.500% 08/01/20501.1%
United States Treasury Note/Bond3.250% 06/30/20271.1%
Capital One Prime Auto Receivables Trust 2022-12.710% 06/16/20251.0%
30-YR UMBS-TBA PROD SEP5.500% 07/01/20521.0%
Fannie Mae Pool2.500% 09/01/20501.0%
30-YR GNMA II-TBA PROD SEP5.000% 07/01/20520.9%
30-YR UMBS-TBA PROD OCT4.000% 05/01/20520.9%
15-YR UMBS-TBA PROD OCT4.000% 05/01/20370.9%
Citigroup Inc3.980% 03/20/20300.8%
Fannie Mae Pool3.000% 12/01/20480.8%
15-YR UMBS-TBA PROD OCT4.500% 06/01/20370.8%
United States Treasury Note/Bond3.000% 07/31/20240.7%
CPPIB Capital Inc3.124% 04/04/20250.7%
United States Treasury Inflation Indexed Bonds0.125% 02/15/20520.7%
Morgan Stanley4.431% 01/23/20300.7%
Oracle Corp2.875% 03/25/20310.7%
30-YR UMBS-TBA PROD OCT5.000% 06/01/20520.7%
Fannie Mae Pool2.500% 08/01/20500.7%
15-YR UMBS-TBA PROD SEP4.000% 05/01/20370.6%
30-YR UMBS-TBA PROD OCT5.500% 07/01/20520.6%
30-YR UMBS-TBA PROD SEP4.000% 05/01/20520.6%
Intercontinental Exchange Inc4.000% 09/15/20270.6%
Wells Fargo & Co2.393% 06/02/20280.6%
United States Treasury Note/Bond3.375% 11/15/20480.6%
Glencore Funding LLC4.875% 03/12/20290.6%
GM Financial Automobile Leasing Trust 2022-22.930% 10/21/20240.6%
Westpac Banking Corp4.322% 11/23/20310.5%
30-YR GNMA II-TBA PROD OCT4.000% 07/01/20520.5%
CIFC Funding 2021-I Ltd3.893% 04/25/20330.5%
30-YR GNMA II-TBA PROD SEP4.000% 07/01/20520.5%
Province of Ontario Canada3.100% 05/19/20270.5%
Continental Resources Inc/OK5.750% 01/15/20310.5%
Freddie Mac Pool5.000% 08/01/20520.5%
Freddie Mac Pool4.500% 08/01/20520.5%
Fairstone Financial Issuance Trust I5.162% 10/20/20390.5%
Avant Loans Funding Trust 2022-REV16.540% 09/15/20310.5%
Perimeter Master Note Business Trust4.230% 05/15/20240.5%
Genesis Sales Finance Master Trust1.650% 09/22/20250.5%
Fannie Mae Pool5.000% 08/01/20520.5%
Asian Development Bank2.895% 04/06/20270.4%
Kommunalbanken AS2.724% 06/17/20260.4%
Lamar Media Corp3.868% 02/05/20270.4%
JPMorgan Chase & Co3.540% 05/01/20280.4%
Southern Co/The2.700% 08/01/20240.4%
BX Trust 2021-ARIA4.636% 10/15/20360.4%
EQT Corp7.000% 02/01/20300.4%
Fannie Mae Pool2.500% 01/01/20510.4%
nVent Finance Sarl4.550% 04/15/20280.4%
Goldman Sachs Group Inc/The0.627% 11/17/20230.4%
Fannie Mae Pool4.000% 06/01/20520.4%
Anglo American Capital PLC4.000% 09/11/20270.4%
Citigroup Inc3.887% 01/10/20280.4%
ME Funding LLC 2019-16.448% 07/30/20490.4%
Goldman Sachs Group Inc/The2.383% 07/21/20320.4%
Fannie Mae Pool3.500% 04/01/20520.4%
Great Wolf Trust 2019-WOLF3.425% 12/15/20360.4%
30-YR GNMA II-TBA PROD OCT4.500% 07/01/20520.4%
Ready Capital Mortgage Financing 2022-FL8 LLC3.833% 01/25/20370.4%
Dryden Senior Loan Fund3.982% 04/15/20280.4%
US Bancorp4.967% 07/22/20330.4%
Danske Bank A/S3.773% 03/28/20250.4%
Signal Peak CLO 8 Ltd3.980% 04/20/20330.4%
Rad CLO 7 Ltd3.940% 04/17/20330.4%
FirstEnergy Corp4.400% 07/15/20270.4%
Hertz Vehicle Financing III LP1.680% 12/27/20270.4%
Occidental Petroleum Corp6.625% 09/01/20300.4%
BRAVO Residential Funding Trust 2021-NQM20.970% 03/25/20600.4%
Fannie Mae Pool2.500% 12/01/20510.4%
Aviation Capital Group LLC5.500% 12/15/20240.4%
Santander Drive Auto Receivables Trust 2022-54.740% 10/16/20280.4%
Bank of America Corp2.687% 04/22/20320.4%
CVS Health Corp3.250% 08/15/20290.3%
Flagship Credit Auto Trust 2022-34.550% 04/15/20270.3%
Global Payments Inc4.000% 06/01/20230.3%
Charter Communications Operating LLC / Charter Communications Operating Capital2.250% 01/15/20290.3%
Freddie Mac Pool5.000% 08/01/20520.3%
American Express Co4.420% 08/03/20330.3%
VERDE CLO Ltd3.612% 04/15/20320.3%
Exeter Automobile Receivables Trust 2020-33.440% 08/17/20260.3%
Lending Funding Trust 2020-22.320% 04/21/20310.3%
Wells Fargo & Co3.584% 05/22/20280.3%
COMM 2014-UBS4 Mortgage Trust4.869% 08/10/20470.3%
BX Trust 2018-GW3.191% 05/15/20350.3%
Santander UK Group Holdings PLC3.373% 01/05/20240.3%
GS Mortgage Securities Corp II4.358% 08/15/20390.3%
American Express Credit Account Master Trust3.750% 08/16/20270.3%
NextEra Energy Capital Holdings Inc5.000% 07/15/20320.3%
Bank of America Corp3.593% 07/21/20280.3%
GA Global Funding Trust3.850% 04/11/20250.3%
Inter-American Investment Corp2.625% 04/22/20250.3%
Avolon Holdings Funding Ltd2.125% 02/21/20260.3%
Citibank Credit Card Issuance Trust3.161% 05/14/20290.3%
Flagship Credit Auto Trust 2018-45.510% 03/16/20260.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust3.500% 01/15/20250.3%
Vistra Operations Co LLC3.550% 07/15/20240.3%
UBS AG5.125% 05/15/20240.3%
CSMC 2021-BHAR4.391% 11/15/20380.3%
Macquarie Group Ltd4.654% 03/27/20290.3%
Rockford Tower CLO 2018-1 Ltd4.084% 05/20/20310.3%
Constellation Energy Generation LLC6.250% 10/01/20390.3%
Diamondback Energy Inc3.125% 03/24/20310.3%
GS Mortgage Securities Corp II4.041% 11/15/20360.3%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.3%
30-YR GNMA II-TBA PROD OCT3.500% 04/01/20520.3%
Macquarie Group Ltd2.691% 06/23/20320.3%
Carvana Auto Receivables Trust 2020-NP15.200% 07/15/20270.3%
Delta Air Lines Inc7.000% 05/01/20250.3%
COMM 2015-DC1 Mortgage Trust4.441% 02/10/20480.3%
Petroleos Mexicanos6.700% 02/16/20320.3%
SEB Funding LLC4.969% 01/30/20520.3%
Japan International Cooperation Agency3.250% 05/25/20270.3%
BNP Paribas SA4.375% 03/01/20330.3%
Rad CLO 6 Ltd4.090% 01/20/20330.3%
Westlake Automobile Receivables Trust 2020-33.340% 06/15/20260.3%
Ally Financial Inc8.000% 11/01/20310.3%
Cargill Inc4.000% 06/22/20320.3%
Freddie Mac Structured Agency Credit Risk Debt Notes4.833% 07/25/20420.3%
Ford Motor Co3.250% 02/12/20320.3%
CenterPoint Energy Resources Corp4.400% 07/01/20320.2%
Freddie Mac STACR REMIC Trust 2021-HQA34.283% 09/25/20410.2%
Invitation Homes Operating Partnership LP2.000% 08/15/20310.2%
LoanCore 2022-CRE7 Issuer Ltd3.533% 01/17/20370.2%
Sprint Capital Corp8.750% 03/15/20320.2%
Genesis Sales Finance Master Trust1.450% 12/21/20260.2%
Bank of America Corp2.087% 06/14/20290.2%
Freddie Mac Pool2.500% 11/01/20500.2%
Kinder Morgan Energy Partners LP4.250% 09/01/20240.2%
CARLYLE US CLO 2019-1 LTD3.790% 04/20/20310.2%
SCF Equipment Leasing 2021-1 LLC1.930% 09/20/20300.2%
Freddie Mac STACR REMIC Trust 2021-HQA43.133% 12/25/20410.2%
CIM Retail Portfolio Trust 2021-RETL6.141% 08/15/20360.2%
Galaxy Pipeline Assets Bidco Ltd3.250% 09/30/20400.2%
Freddie Mac STACR REMIC Trust 2021-DNA34.283% 10/25/20330.2%
CARLYLE US CLO 2017-3 Ltd3.610% 07/20/20290.2%
Kommuninvest I Sverige AB3.250% 01/16/20240.2%
Fannie Mae Pool4.000% 05/01/20520.2%
Barings CLO Ltd 2019-III3.780% 04/20/20310.2%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT3.876% 07/05/20330.2%
EIG Pearl Holdings Sarl3.545% 08/31/20360.2%
National Fuel Gas Co5.500% 01/15/20260.2%
30-YR UMBS-TBA PROD SEP5.000% 06/01/20520.2%
Lendmark Funding Trust 2021-11.900% 11/20/20310.2%
EPR Properties3.750% 08/15/20290.2%
Gracie Point International Funding 2020-B4.762% 05/02/20230.2%
Wells Fargo & Co3.350% 03/02/20330.2%
Minejesa Capital BV4.625% 08/10/20300.2%
Freddie Mac Pool5.000% 07/01/20520.2%
JPMorgan Chase & Co2.963% 01/25/20330.2%
Fannie Mae Pool2.500% 12/01/20510.2%
Marble Point CLO XVII Ltd4.010% 04/20/20330.2%
Fannie Mae Pool3.500% 07/01/20450.2%
Extended Stay America Trust 2021-ESH4.091% 07/15/20380.2%
Deephaven Residential Mortgage Trust 2021-31.194% 08/25/20660.2%
GS Mortgage Securities Corp Trust 2021-ROSS7.041% 05/15/20260.2%
Connecticut Avenue Securities Trust 2021-R013.733% 10/25/20410.2%
Morgan Stanley2.239% 07/21/20320.2%
Centene Corp4.250% 12/15/20270.2%
BankUnited Inc5.125% 06/11/20300.2%
Angel Oak Mortgage Trust 2022-34.000% 01/25/20670.2%
Broadcom Inc4.150% 04/15/20320.2%
Atrium Hotel Portfolio Trust 2018-ATRM3.341% 06/15/20350.2%
Avis Budget Rental Car Funding AESOP LLC4.080% 02/20/20280.2%
Oaktree CLO 2019-4 Ltd4.960% 10/20/20320.2%
Barings CLO Ltd 2019-III4.310% 04/20/20310.2%
BHMS 2018-ATLS3.641% 07/15/20350.2%
British Airways 2020-1 Class A Pass Through Trust4.250% 05/15/20340.2%
DBWF 2018-GLKS Mortgage Trust3.396% 12/19/20300.2%
EPR Properties4.950% 04/15/20280.2%
Advanced Micro Devices Inc3.924% 06/01/20320.2%
KIND Trust 2021-KIND4.691% 08/15/20380.2%
New Jersey Transportation Trust Fund Authority4.131% 06/15/20420.2%
Freddie Mac Pool3.500% 02/01/20460.2%
AES Corp/The3.950% 07/15/20300.2%
Ovintiv Inc6.500% 02/01/20380.2%
Mountain View CLO 2017-1 LLC3.830% 10/16/20290.2%
Verus Securitization Trust 2021-21.031% 02/25/20660.2%
Ballyrock CLO 2020-2 Ltd3.720% 10/20/20310.2%
Wind River 2021-4 CLO Ltd4.360% 01/20/20350.2%
Ready Capital Mortgage Financing 2021-FL6 LLC4.344% 07/25/20360.2%
Freddie Mac STACR REMIC Trust 2021-DNA73.983% 11/25/20410.2%
Jane Street Group LLC5.274% 01/26/20280.2%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.2%
Amentum Government Services Holdings LLC6.524% 01/29/20270.2%
Nelnet Student Loan Trust 2021-D2.900% 04/20/20620.2%
Freddie Mac STACR REMIC Trust 2021-DNA63.683% 10/25/20410.2%
Quikrete Holdings Inc5.149% 02/01/20270.2%
Duke Energy Corp4.500% 08/15/20320.2%
Signal Peak CLO 2 LLC5.560% 04/20/20290.2%
Trans Union LLC4.774% 12/01/20280.2%
VICI Properties LP / VICI Note Co Inc5.625% 05/01/20240.2%
Aircastle Ltd2.850% 01/26/20280.2%
Race Point IX CLO Ltd5.712% 10/15/20300.2%
CBAM 2017-1 Ltd6.460% 07/20/20300.2%
Fannie Mae Pool4.000% 05/01/20520.2%
Toronto-Dominion Bank/The4.456% 06/08/20320.2%
Mariner Finance Issuance Trust 2021-B3.420% 11/20/20360.2%
Dell International LLC / EMC Corp8.350% 07/15/20460.2%
JPMorgan Chase & Co3.782% 02/01/20280.2%
Glencore Funding LLC2.850% 04/27/20310.2%
Netflix Inc6.375% 05/15/20290.2%
Advanced Micro Devices Inc4.393% 06/01/20520.2%
Fannie Mae Pool5.000% 07/01/20520.2%
Packaging Coordinators Midco Inc6.000% 11/30/20270.2%
Bank of America Corp3.970% 03/05/20290.2%
Bank of America Corp3.004% 12/20/20230.2%
CS Master Trust6.340% 04/15/20250.2%
Live Nation Entertainment Inc4.750% 10/15/20270.2%
State Street Corp4.164% 08/04/20330.2%
Avolon Holdings Funding Ltd4.250% 04/15/20260.2%
Westpac Banking Corp2.894% 02/04/20300.2%
Claros Mortgage Trust Inc6.893% 08/09/20260.2%
Perimeter Master Note Business Trust4.170% 05/15/20240.2%
Braskem Netherlands Finance BV4.500% 01/31/20300.2%
American Tower Corp2.400% 03/15/20250.2%
Fannie Mae Pool2.500% 08/01/20500.2%
AAdvantage Loyalty IP Ltd7.460% 04/20/20280.2%
SLC Student Loan Trust 2008-13.429% 12/15/20320.2%
Morgan Stanley2.484% 09/16/20360.2%
Goldman Sachs Group Inc/The2.615% 04/22/20320.2%
Playtika Holding Corp5.274% 03/13/20280.2%
Charter Communications Operating LLC / Charter Communications Operating Capital6.484% 10/23/20450.2%
Kommuninvest I Sverige AB2.875% 07/03/20240.2%
FactSet Research Systems Inc3.450% 03/01/20320.1%
Elmwood CLO VIII Ltd4.260% 01/20/20340.1%
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara3.000% 06/30/20300.1%
Angel Oak Mortgage Trust 2021-31.068% 05/25/20660.1%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.1%
Time Warner Entertainment Co LP8.375% 07/15/20330.1%
Fannie Mae Pool2.500% 09/01/20510.1%
Fannie Mae Connecticut Avenue Securities4.183% 11/25/20410.1%
Carlyle Global Market Strategies CLO 2015-5 Ltd5.010% 01/20/20320.1%
Viterra Finance BV4.900% 04/21/20270.1%
UnitedHealth Group Inc4.000% 05/15/20290.1%
Apidos CLO XXXV3.760% 04/20/20340.1%
EASTERN GAS TRANSMISSION & STO3.000% 11/15/20290.1%
Bank of America Corp4.000% 01/22/20250.1%
NextEra Energy Capital Holdings Inc4.255% 09/01/20240.1%
Egypt Government International Bond5.800% 09/30/20270.1%
Dell International LLC / EMC Corp3.375% 12/15/20410.1%
Southwest Gas Corp4.050% 03/15/20320.1%
Ares XL CLO Ltd3.382% 01/15/20290.1%
Fannie Mae Pool5.000% 07/01/20520.1%
ONE Gas Inc1.100% 03/11/20240.1%
Bank of America Corp1.658% 03/11/20270.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
Netflix Inc5.875% 11/15/20280.1%
Alfa Desarrollo SpA4.550% 09/27/20510.1%
Aviation Capital Group LLC1.950% 01/30/20260.1%
CF Trust 2019-BOSS5.641% 12/15/20240.1%
Buckeye Partners LP6.375% 01/22/20780.1%
GS Mortgage Securities Corp Trust 2018-RIVR3.341% 07/15/20350.1%
Lendmark Funding Trust 2021-23.090% 04/20/20320.1%
Carvana Auto Receivables Trust 2019-34.600% 07/15/20260.1%
First American Financial Corp2.400% 08/15/20310.1%
Octagon Investment Partners XVII Ltd3.783% 01/25/20310.1%
AEP Transmission Co LLC4.500% 06/15/20520.1%
Bayer Corp6.650% 02/15/20280.1%
Tricolor Auto Securitization Trust 2021-13.230% 09/15/20260.1%
Range Resources Corp8.250% 01/15/20290.1%
American Airlines Group Inc3.750% 03/01/20250.1%
BBCMS 2019-BWAY Mortgage Trust3.347% 11/15/20340.1%
Magallanes Inc3.428% 03/15/20240.1%
Physicians Realty LP2.625% 11/01/20310.1%
Comstock Resources Inc6.750% 03/01/20290.1%
Tenet Healthcare Corp4.875% 01/01/20260.1%
Verus Securitization Trust 2020-51.218% 05/25/20650.1%
Callon Petroleum Co8.000% 08/01/20280.1%
BHMS 2018-ATLS4.291% 07/15/20350.1%
TransDigm Inc6.375% 06/15/20260.1%
CIFC Funding 2014-V Ltd3.940% 10/17/20310.1%
Sunrun Demeter Issuer 2021-2 LLC2.270% 01/30/20570.1%
GREYWOLF CLO VII Ltd3.890% 10/20/20310.1%
United States Treasury Note/Bond2.750% 08/15/20320.1%
Life 2021-BMR Mortgage Trust4.141% 03/15/20380.1%
Wells Fargo Commercial Mortgage Trust 2015-SG14.602% 09/15/20480.1%
MHP Lux SA6.250% 09/19/20290.1%
Weatherford International Ltd8.625% 04/30/20300.1%
Life Time Inc5.750% 01/15/20260.1%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.1%
Genesis Sales Finance Master Trust2.090% 12/21/20260.1%
Calpine Corp5.000% 02/01/20310.1%
Alcoa Nederland Holding BV4.125% 03/31/20290.1%
Mercer International Inc5.125% 02/01/20290.1%
Delta Air Lines Inc / SkyMiles IP Ltd4.750% 10/20/20280.1%
United States Steel Corp6.875% 03/01/20290.1%
Charles River Laboratories International Inc4.250% 05/01/20280.1%
Sprint Capital Corp6.875% 11/15/20280.1%
Navient Corp5.000% 03/15/20270.1%
SM Energy Co6.750% 09/15/20260.1%
Laredo Petroleum Inc9.500% 01/15/20250.1%
Organon & Co / Organon Foreign Debt Co-Issuer BV4.125% 04/30/20280.1%
Option Care Health Inc4.375% 10/31/20290.1%
Gartner Inc3.750% 10/01/20300.1%
Prosus NV3.257% 01/19/20270.1%
Frontier Communications Holdings LLC5.000% 05/01/20280.1%
Baidu Inc2.375% 08/23/20310.1%
Invitation Homes Operating Partnership LP2.300% 11/15/20280.1%
TCW CLO 2022-1 Ltd2.087% 04/22/20330.1%
CSAIL 2016-C7 Commercial Mortgage Trust4.526% 11/15/20490.1%
Foothill-Eastern Transportation Corridor Agency4.094% 01/15/20490.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.1%
American Airlines Inc11.750% 07/15/20250.1%
GSK Consumer Healthcare Capital US LLC3.625% 03/24/20320.1%
Go Daddy Operating Co LLC / GD Finance Co Inc3.500% 03/01/20290.1%
Levi Strauss & Co3.500% 03/01/20310.1%
Nigeria Government International Bond7.143% 02/23/20300.1%
Consumer Loan Underlying Bond CLUB Credit Trust 2019-P24.410% 10/15/20260.1%
Medline Borrower LP3.875% 04/01/20290.1%
Diamondback Energy Inc3.500% 12/01/20290.1%
Atkore Inc4.250% 06/01/20310.1%
Mohegan Gaming & Entertainment8.000% 02/01/20260.1%
Citigroup Inc4.140% 05/24/20250.1%
Aramark Services Inc4.274% 03/11/20250.1%
Mariner Finance Issuance Trust 2021-B4.680% 11/20/20360.1%
Option Care Health Inc5.274% 10/27/20280.1%
Pike Corp5.500% 09/01/20280.1%
SCIENTIFIC GAMES INTL INC5.407% 04/14/20290.1%
Capital One Financial Corp4.166% 05/09/20250.1%
Madison IAQ LLC5.875% 06/30/20290.1%
NGPL PipeCo LLC3.250% 07/15/20310.1%
HGI CRE CLO 2021-FL1 Ltd4.737% 06/16/20360.1%
Novelis Corp3.875% 08/15/20310.1%
Kennedy-Wilson Inc4.750% 02/01/20300.1%
CNX Midstream Partners LP4.750% 04/15/20300.1%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.1%
Jazz Financing Lux Sarl6.024% 04/21/20280.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN3.661% 11/15/20350.1%
COMM 2015-PC1 Mortgage Trust4.290% 07/10/20500.1%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.1%
KUEHG Corp6.000% 02/21/20250.1%
Murphy Oil USA Inc4.750% 09/15/20290.1%
Cheniere Energy Partners LP3.250% 01/31/20320.1%
CS Master Trust6.568% 04/15/20230.1%
MSCI Inc3.625% 11/01/20310.1%
Hilcorp Energy I LP / Hilcorp Finance Co5.750% 02/01/20290.1%
Venture Global Calcasieu Pass LLC4.125% 08/15/20310.1%
Toll Brothers Finance Corp3.800% 11/01/20290.1%
Apidos CLO XXVI4.240% 07/18/20290.1%
Jacobs Entertainment Inc6.750% 02/15/20290.1%
CPS Auto Receivables Trust 2020-C1.710% 08/17/20260.1%
New York City Transitional Finance Authority Future Tax Secured Revenue1.950% 08/01/20340.1%
SunCoke Energy Inc4.875% 06/30/20290.1%
Consumers Energy Co4.200% 09/01/20520.1%
Fannie Mae Pool3.500% 09/01/20510.1%
Condor Merger Sub Inc7.375% 02/15/20300.1%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.1%
NRG Energy Inc4.450% 06/15/20290.1%
Angolan Government International Bond8.750% 04/14/20320.1%
LBM Acquisition LLC6.250% 01/15/20290.1%
Entegris Inc3.625% 05/01/20290.1%
Lendmark Funding Trust 2021-24.460% 04/20/20320.1%
ZipRecruiter Inc5.000% 01/15/20300.1%
AMC Networks Inc4.250% 02/15/20290.1%
CHS/Community Health Systems Inc4.750% 02/15/20310.1%
TK Elevator US Newco Inc5.250% 07/15/20270.1%
Century Communities Inc3.875% 08/15/20290.1%
ELEMENT MAT TEC GR US HLD INC0.000% 06/07/20290.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT4.950% 07/05/20330.1%
HONO 2021-LULU Mortgage Trust3.841% 10/15/20360.1%
Baxalta Inc4.000% 06/23/20250.1%
Standard Industries Inc/NJ4.375% 07/15/20300.1%
Starwood Mortgage Residential Trust 2020-31.486% 04/25/20650.1%
Sabine Pass Liquefaction LLC5.625% 03/01/20250.1%
Coinbase Global Inc3.375% 10/01/20280.1%
Westlake Automobile Receivables Trust 2021-12.330% 08/17/20260.1%
Time Warner Cable LLC7.300% 07/01/20380.1%
Freeport Indonesia PT5.315% 04/14/20320.1%
Assurant Inc2.650% 01/15/20320.1%
Alcoa Nederland Holding BV6.125% 05/15/20280.1%
Centene Corp2.450% 07/15/20280.1%
American Tower Corp2.950% 01/15/20250.1%
SCF Equipment Leasing 2021-1 LLC3.560% 08/20/20320.1%
Party City Holdings Inc8.750% 02/15/20260.1%
Macquarie Bank Ltd3.624% 06/03/20300.1%
PVH Corp7.750% 11/15/20230.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT3.576% 07/05/20330.1%
CSMC 2014-USA OA LLC4.373% 09/15/20370.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.875% 01/16/20240.1%
HGI CRE CLO 2021-FL1 Ltd4.087% 06/16/20360.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT4.549% 07/05/20330.1%
Tengizchevroil Finance Co International Ltd3.250% 08/15/20300.1%
Flagship Credit Auto Trust 2021-10.310% 06/16/20250.1%
Genesis Sales Finance Master Trust4.710% 09/22/20250.1%
MEG Energy Corp5.875% 02/01/20290.1%
Parallel 2017-1 Ltd3.740% 07/20/20290.1%
California Resources Corp7.125% 02/01/20260.1%
Vista Point Securitization Trust 2020-21.475% 04/25/20650.1%
Wells Fargo Commercial Mortgage Trust 2013-LC124.433% 07/15/20460.1%
Goldentree Loan Management US Clo 3 Ltd4.260% 04/20/20300.1%
Fairstone Financial Issuance Trust I6.873% 10/20/20390.1%
Galaxy XXI CLO Ltd3.730% 04/20/20310.1%
Tenet Healthcare Corp6.250% 02/01/20270.1%
CCO Holdings LLC / CCO Holdings Capital Corp5.000% 02/01/20280.1%
Regents of the University of California Medical Center Pooled Revenue3.006% 05/15/20500.1%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd5.341% 05/15/20360.1%
HONO 2021-LULU Mortgage Trust4.241% 10/15/20360.1%
BBCMS 2019-BWAY Mortgage Trust3.701% 11/15/20340.1%
Occidental Petroleum Corp6.125% 01/01/20310.1%
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.1%
Ford Credit Floorplan Master Owner Trust A4.060% 11/15/20300.1%
Massachusetts Educational Financing Authority3.733% 04/25/20380.0%
CPS Auto Receivables Trust 2019-B5.000% 03/17/20250.0%
Towd Point Asset Trust 2018-SL13.044% 01/25/20460.0%
Sri Lanka Government International Bond5.875% 07/25/20220.0%
COMM 2015-PC1 Mortgage Trust4.435% 07/10/20500.0%
ReadyCap Commercial Mortgage Trust 2019-62.833% 10/25/20520.0%
Radiology Partners Inc9.250% 02/01/20280.0%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.0%
Freddie Mac Multifamily Structured Pass Through Certificates2.125% 02/25/20320.0%
Credit Index Swap5.000% 06/20/20270.0%
Credit Suisse Mortgage Capital Certificates1.616% 04/25/20650.0%
Verus Securitization Trust 2020-12.417% 01/25/20600.0%
Pennsylvania Higher Education Assistance Agency3.053% 04/25/20380.0%
AMMC CLO XIII Ltd4.483% 07/24/20290.0%
CPS Auto Receivables Trust 2020-A4.090% 12/15/20250.0%
Avid Automobile Receivables Trust 2019-13.140% 07/15/20260.0%
United Rentals North America Inc4.000% 07/15/20300.0%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.0%
SFAVE Commercial Mortgage Securities Trust 2015-5AVE3.872% 01/05/20430.0%
WFRBS Commercial Mortgage Trust 2014-C230.702% 10/15/20570.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
US 5YR NOTE (CBT) Dec220.000% 01/05/20230.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
US 10yr Ultra Fut Dec220.000% 12/30/20220.0%
FX USD/CAD 10/220.000% 10/20/20220.0%
Avid Automobile Receivables Trust 2019-12.820% 07/15/20260.0%
Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
Hudsons Bay Simon JV Trust 2015-HBS0.723% 08/05/20340.0%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.0%
Citigroup Commercial Mortgage Trust 2014-GC250.309% 10/10/20470.0%
Merrill Lynch Mortgage Investors Trust Series 2006-AF26.250% 10/25/20360.0%
Danske Bank A/S4.375% 06/12/20280.0%
Government National Mortgage Association2.900% 02/16/20530.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
GS Mortgage Securities Trust 2014-GC264.672% 11/10/20470.0%
FX USD/EUR 09/220.000% 09/12/20220.0%
CPS Auto Receivables Trust 2018-B4.260% 03/15/20240.0%
New Century Home Equity Loan Trust Series 2005-A5.454% 08/25/20350.0%
COMM 2014-CCRE19 Mortgage Trust1.091% 08/10/20470.0%
Hudsons Bay Simon JV Trust 2015-HBS0.665% 08/05/20340.0%
FX EUR/USD 09/220.000% 09/12/20220.0%
Avolon TLB Borrower 1 US LLC0.000% 12/01/20270.0%
OGX Austria GmbH8.500% 06/01/20180.0%
SeaWorld Parks & Entertainment Inc5.563% 08/25/20280.0%
Seminole Tribe of Florida Inc4.274% 07/08/20240.0%
ELEMNT MAT TECH GRP US HOL INC0.000% 06/22/20290.0%
LAC0.010% 12/31/20500.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
US 10YR NOTE (CBT)Dec220.000% 12/30/20220.0%
US 2YR NOTE (CBT) Dec220.000% 01/05/20230.0%
US ULTRA BOND CBT Dec220.000% 12/30/20220.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
US LONG BOND(CBT) Dec220.000% 12/30/2022-0.1%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 10/06/2022
$0.206
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2022 $0.02671 $8.64
Daily Daily 08/31/2022 $0.02777 $9.09
Daily Daily 07/31/2022 $0.02695 $9.34
Daily Daily 06/30/2022 $0.02391 $9.13
Daily Daily 05/31/2022 $0.02275 $9.38
Daily Daily 04/30/2022 $0.02098 $9.43
Daily Daily 03/31/2022 $0.02117 $9.79
Daily Daily 02/28/2022 $0.01844 $10.09
Daily Daily 01/31/2022 $0.01816 $10.23

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
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 09/30/2022

0.69%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
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Publish Date:11/03/2015
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Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
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*"Barron's Best Fund Families of 2021", #4 ranking in the Taxable Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families. Ranking for the ten-year period ending 12/31/2021 is #2 out of 45 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2021,” February 18, 2022. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2021, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.

© Refinitiv Lipper 2022. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

+

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.      

                    

+

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

3

The Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

 

4

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

 

5

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

6

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate 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. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can 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.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

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 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. 

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.

 

The Morningstar Intermediate Term Bond Average represents funds that focus on corporate, government, foreign, or other issues with an average duration of greater than or equal to 3.5 years but less than or equal to six years, or an average effective maturity of more than four years but less than 10 years.

 

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.

 

The Net Expense Ratio takes into account a voluntary expense reimbursement arrangement, which may be modified or terminated at any time and without which performance would have been lower.  

 

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.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

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.

Select funds to run a Morningstar Hypothetical Report.

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