LTRAX | Total Return Fund Class A | 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

Average Yield to Maturity as of 11/29/2024

5.29%

30-Day Standardized Yield 1 as of 11/30/2024  

4.47%

Fund Basicsas of 11/29/2024

Total Net Assets
$3.73 B
Inception Date
08/31/2000
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.65%
Fund Net Expense Ratio
0.65%
Number of Holdings
543
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 0.65%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 4.17% 8.13% -1.68% 0.41% 1.61% 4.19%
Lipper Category Avg. Core Bond Funds 3.48% 7.42% -1.85% 0.25% 1.54% -
Bloomberg U.S. Aggregate Bond Index 2.93% 6.88% -1.95% -0.01% 1.52% 3.86%
w/ sales charge 1.86% 5.66% -2.41% -0.05% 1.37% 4.09%

Fund Expense Ratio :

Gross 0.65%

Net 0.65%

Fund Expense Ratio :

Gross 0.65%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 5.37% 12.37% -1.25% 0.68% 1.86% 4.27%
Lipper Category Avg. Core Bond Funds 4.93% 11.99% -1.39% 0.58% 1.82% -
Bloomberg U.S. Aggregate Bond Index 4.45% 11.57% -1.39% 0.33% 1.84% 3.95%
w/ sales charge 3.04% 9.88% -1.99% 0.23% 1.63% 4.17%

Fund Expense Ratio :

Gross 0.65%

Net 0.65%

Type Assets
Investment Grade Corporate
MBS
U.S. Government Related
ABS
High Yield Corporate
CMBS
CLO
Bank Loans
Sovereign
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 11/29/2024 View Portfolio

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

INVESTMENT TEAM

Kewjin Yuoh
Kewjin Yuoh

Partner, Portfolio Manager

30 Years of Industry Experience

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

Partner, Portfolio Manager

26 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

23 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

33 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

16 Years of Industry Experience

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

Partner & Portfolio Manager

23 Years of Industry Experience

Harris Trifon
Harris Trifon

Partner, Portfolio Manager

24 Years of Industry Experience

Karen  J. Gunnerson
Karen J. Gunnerson

Senior Managing Director, Portfolio Manager

14 Years of Industry Experience

Supported By 61 Investment Professionals with 14 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 11/29/2024

5.29%

30-Day Standardized Yield 1 as of 11/30/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 4.47% 4.47%

Fund Expense Ratio :

Gross 0.65%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 4.17% 8.13% -1.68% 0.41% 1.61% 4.19%
Lipper Category Avg. Core Bond Funds 3.48% 7.42% -1.85% 0.25% 1.54% -
Bloomberg U.S. Aggregate Bond Index 2.93% 6.88% -1.95% -0.01% 1.52% 3.86%
w/ sales charge 1.86% 5.66% -2.41% -0.05% 1.37% 4.09%

Fund Expense Ratio :

Gross 0.65%

Net 0.65%

Fund Expense Ratio :

Gross 0.65%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 08/31/2000
w/o sales charge 5.37% 12.37% -1.25% 0.68% 1.86% 4.27%
Lipper Category Avg. Core Bond Funds 4.93% 11.99% -1.39% 0.58% 1.82% -
Bloomberg U.S. Aggregate Bond Index 4.45% 11.57% -1.39% 0.33% 1.84% 3.95%
w/ sales charge 3.04% 9.88% -1.99% 0.23% 1.63% 4.17%

Fund Expense Ratio :

Gross 0.65%

Net 0.65%

Year Fund Returns Bloomberg U.S. Aggregate Bond Index
2023 6.30% 5.53%
2022 -14.08% -13.01%
2021 -0.11% -1.54%
2020 7.36% 7.51%
2019 8.32% 8.72%
2018 -0.93% 0.01%
2017 3.82% 3.54%
2016 4.05% 2.65%
2015 -0.64% 0.55%
2014 6.12% 5.97%
2013 -1.40% -
2012 7.73% -
2011 7.20% -
2010 7.59% -
2009 15.67% -
2008 -1.22% -
2007 5.68% -
2006 4.15% -
2005 2.30% -
2004 4.28% -
Year Q1 Q2 Q3 Q4
2024 -0.20% 0.29% 5.28% -
2023 3.13% -0.71% -2.67% 6.64%
2022 -5.76% -6.05% -4.50% 1.62%
2021 -2.42% 2.27% 0.05% 0.05%
2020 -1.17% 4.52% 1.83% 2.06%
2019 3.22% 2.99% 1.66% 0.22%
2018 -1.51% -0.35% 0.26% 0.69%
2017 1.14% 1.43% 0.83% 0.37%
2016 2.82% 2.71% 1.14% -2.59%
2015 1.58% -1.50% 0.05% -0.74%
2014 2.33% 2.50% 0.06% 1.11%
2013 0.49% -2.81% 0.49% 0.47%
2012 1.82% 1.94% 2.71% 1.04%
2011 1.01% 2.09% 2.38% 1.53%
2010 2.42% 2.75% 3.31% -1.05%
2009 2.42% 5.52% 6.23% 0.75%
2008 1.08% -0.04% -2.05% -0.19%
2007 1.48% -0.75% 2.63% 2.24%
2006 -0.38% -0.28% 3.62% 1.18%
2005 -0.37% 3.02% -0.71% 0.39%
2004 2.33% -2.29% 3.11% 1.15%
2003 1.50% 3.00% -0.12% 0.56%
2002 0.10% 2.26% 3.47% 2.65%
2001 3.41% 0.54% 4.68% 0.47%

Growth of $10,000 as of 11/30/2024

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
MBS
U.S. Government Related
ABS
High Yield Corporate
CMBS
CLO
Bank Loans
Sovereign
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 11/29/2024

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

Portfolio Positioning as of 09/30/2024

  • Overall rates positioning contributed to relative performance. While the portfolio’s shorter duration positioning detracted from relative performance with the fall in rates, this was more than offset by the portfolio’s yield curve positioning, leading to an overall positive impact. More specifically, as the short end of the curve decreased more than longer end, the portfolio’s underweight to the 5- and 10-year part of the curve and overweight the 2-year part of the curve contributed to relative returns.
  • An allocation to high yield corporate bonds contributed to relative returns. We reduced the portfolio’s overall exposure to high yield corporates, rotating the portfolio up in quality into other sectors.
  • Security selection within investment grade corporate bonds contributed to relative performance, specifically within the Financials sector. We remain overweight the Financials sector and increased our exposure to some of the larger regional banks over the period.
  • The portfolio’s allocation to ABS and collateralized loan obligations (CLOs) modestly contributed to relative performance. Within CLOs, we decreased the portfolio’s exposure to rotate into other sectors we believe offer better relative value. Within ABS, we modestly increased our overall exposure, adding to AA-rated ABS.
  • The portfolio’s allocation to agency mortgage-backed securities (MBS) detracted from relative performance. We maintained our exposure to MBS as we believe this is an attractive asset class for high quality carry and it may perform well as rate volatility continues to decline.

Portfolio Details as of 11/29/2024

Total Net Assets
$3.73 B
Average Effective Duration
5.83 Years
Average Life
8.09 Years
Average Maturity
8.09 Years
Number of Issues
543
Average Yield to Maturity
5.29%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 12/10/2024
$0.37727
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2024 $0.03351 $8.81
Daily Daily 10/31/2024 $0.03380 $8.74
Daily Daily 09/30/2024 $0.03391 $8.98
Daily Daily 08/31/2024 $0.03479 $8.90
Daily Daily 07/31/2024 $0.03509 $8.79
Daily Daily 06/30/2024 $0.03454 $8.63
Daily Daily 05/31/2024 $0.03479 $8.58
Daily Daily 04/30/2024 $0.03456 $8.48
Daily Daily 03/31/2024 $0.03445 $8.71
Daily Daily 02/29/2024 $0.03368 $8.66
Daily Daily 01/31/2024 $0.03415 $8.79

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2024

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

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 12/10/2024

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $9.01
$100,000 to $249,999 1.75% 1.50% $8.97
$250,000 to $499,999 1.25% 1.00% $8.92
Greater than $500,000 0.00% 1.00% $8.81

Expense Ratioas of 11/30/2024

Fund Gross Expense Ratio 0.65%
Fund Net Expense Ratio 0.65%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Semi-Annual Tailored Shareholder Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
* includes items 7-11 of form N-CSR as required, if any.

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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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