LUBAX | Ultra Short Bond Fund Class A | Lord Abbett

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Ultra Short Bond Fund

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Daily price w/o sales charge as of 10/11/2024

$10.03

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YTD Returns w/o sales charge as of 10/11/2024

4.87%

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Summary

Summary

What is the Ultra Short Bond Fund ?

The Fund seeks to deliver current income consistent with the preservation of capital by investing in a broad range of investment grade ultra-short fixed income and money market securities with a weighted average duration of less than one year.

Yield

Average Yield to Maturity as of 08/30/2024

5.46%

30-Day Standardized Yield 1 as of 09/30/2024  

4.66%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Fund Basicsas of 08/30/2024

Total Net Assets
$10.49 B
Inception Date
10/17/2016
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.43%
Fund Net Expense Ratio
0.43%
Number of Holdings
402
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

0.43%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 4.72% 6.62% 3.38% 2.38% - 2.21%
Lipper Category Avg. Ultra-Short Obligations Funds 4.61% 6.48% 3.43% 2.52% - -
ICE BofA U.S. Treasury Bill Index 4.08% 5.55% 3.49% 2.34% - 2.05%
w/ sales charge 4.72% 6.62% 3.38% 2.38% - 2.21%

Fund Expense Ratio :

0.43%

Fund Expense Ratio :

0.43%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 4.72% 6.62% 3.38% 2.38% - 2.21%
Lipper Category Avg. Ultra-Short Obligations Funds 4.61% 6.48% 3.43% 2.52% - -
ICE BofA U.S. Treasury Bill Index 4.08% 5.55% 3.49% 2.34% - 2.05%
w/ sales charge 4.72% 6.62% 3.38% 2.38% - 2.21%

Fund Expense Ratio :

0.43%

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
Corp Fixed Rate
ABS
Corp Floating
Commercial Paper
CLO
Bank Loans
U.S. Government Related
CMBS
MBS
Sovereign
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
1-2.99 years
3-4.99 years

Credit Quality Distribution as of 08/30/2024 View Portfolio

Rating Assets
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
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

Yoana N. Koleva
Yoana N. Koleva, CFA

Partner, Portfolio Manager

21 Years of Industry Experience

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

Partner, Portfolio Manager

26 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner, Portfolio Manager

30 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

16 Years of Industry Experience

Supported By 82 Investment Professionals with 18 Years Avg. Industry Experience

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Performance

Performance

NAV HISTORICAL PRICES

Date Net Asset Value

Fund Expense Ratio :

Gross 0.43%

Net 0.43%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 4.72% 6.62% 3.38% 2.38% - 2.21%
Lipper Category Avg. Ultra-Short Obligations Funds 4.61% 6.48% 3.43% 2.52% - -
ICE BofA U.S. Treasury Bill Index 4.08% 5.55% 3.49% 2.34% - 2.05%
w/ sales charge 4.72% 6.62% 3.38% 2.38% - 2.21%

Fund Expense Ratio :

Gross 0.43%

Net 0.43%

Fund Expense Ratio :

Gross 0.43%

Net 0.43%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 4.72% 6.62% 3.38% 2.38% - 2.21%
Lipper Category Avg. Ultra-Short Obligations Funds 4.61% 6.48% 3.43% 2.52% - -
ICE BofA U.S. Treasury Bill Index 4.08% 5.55% 3.49% 2.34% - 2.05%

Fund Expense Ratio :

Gross 0.43%

Net 0.43%

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 ICE BofA U.S. Treasury Bill Index
2023 5.80% 5.09%
2022 -0.11% 1.34%
2021 -0.10% 0.05%
2020 1.11% 0.74%
2019 2.83% 2.35%
2018 1.93% 1.88%
2017 1.42% 0.82%
Year Q1 Q2 Q3 Q4
2024 1.46% 1.39% 1.80% -
2023 1.43% 1.06% 1.38% 1.82%
2022 -0.78% -0.56% 0.18% 1.06%
2021 -0.02% 0.09% 0.00% -0.17%
2020 -1.35% 2.14% 0.25% 0.09%
2019 0.86% 0.74% 0.59% 0.62%
2018 0.32% 0.53% 0.66% 0.40%
2017 0.35% 0.39% 0.33% 0.35%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

GROWTH OF $10,000 as of 08/31/2024

The chart begins on the Fund's inception date of 10/17/2016.

Based on a hypothetical Class A share investment of $10,000 on 10/17/2016 without sales charge and includes the reinvestment of all distributions.

 

Portfolio

Portfolio

Type Assets
Corp Fixed Rate
ABS
Corp Floating
Commercial Paper
CLO
Bank Loans
U.S. Government Related
CMBS
MBS
Sovereign
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
1-2.99 years
3-4.99 years

CREDIT QUALITY DISTRIBUTION as of 08/30/2024

Rating Assets
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
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.

Portfolio Positioning as of 06/30/2024

  • The portfolio’s allocation to fixed and floating-rate corporate bonds contributed to performance due to their attractive carry relative to Treasury Bills. Over the quarter, we decreased allocations to short-term corporate bonds given more attractive relative value in other sectors.
  • The portfolio’s allocation to asset backed securities (ABS) led to a positive impact on relative performance. Higher-rated ABS was the portfolio’s largest increase over the quarter given compelling relative value. Using investment grade corporates as a funding source, we’ve reallocated to higher quality ABS, where excess issuance has led to attractive risk adjusted spreads. By accepting this technical headwind, the portfolio has moved up in quality without sacrificing carry.
  • The portfolios allocation to collateralized loan obligations (CLOs) contributed to relative performance over the period given the asset classes greater carry relative to Treasury Bills. The portfolio’s entire allocation in CLOs is AAA-rated and we continue to find this sector as an attractive opportunity set for yield pick up as well as diversification relative to investment grade corporates.
  • The portfolio’s very modest allocation to residential mortgage-backed securities led to a slight negative impact on relative performance. While the allocation generated positive performance, it underperformed Treasury Bills. 

Portfolio Details as of 08/30/2024

Total Net Assets
$10.49 B
Average Effective Duration
0.5 Years
Average Life
0.93 Years
Number of Issues
402
Average Yield to Maturity
5.46%

To view definitions for the above Portfolio Details, Click here.

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

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
HSBC Holdings PLC 2.999% 03/10/2026 1.4%
APA Corp 0.000% 09/03/2024 1.3%
Wells Fargo & Co 2.406% 10/30/2025 1.2%
FMC Corp 0.000% 09/06/2024 1.1%
BNP Paribas SA 2.819% 11/19/2025 1.0%
United States Treasury Inflation Indexed Bonds 0.375% 07/15/2025 1.0%
JPMorgan Chase & Co 2.301% 10/15/2025 0.9%
Citigroup Inc 2.014% 01/25/2026 0.9%
Macquarie Group Ltd 6.207% 11/22/2024 0.8%
Occidental Petroleum Corp 0.000% 12/27/2024 0.8%
% of Total Assets 10.4%
Holding Coupon Maturity Assets
HSBC Holdings PLC2.999% 03/10/20261.4%
APA Corp0.000% 09/03/20241.3%
Wells Fargo & Co2.406% 10/30/20251.2%
FMC Corp0.000% 09/06/20241.1%
BNP Paribas SA2.819% 11/19/20251.0%
United States Treasury Inflation Indexed Bonds0.375% 07/15/20251.0%
JPMorgan Chase & Co2.301% 10/15/20250.9%
Citigroup Inc2.014% 01/25/20260.9%
Macquarie Group Ltd6.207% 11/22/20240.8%
Occidental Petroleum Corp0.000% 12/27/20240.8%
Danske Bank A/S6.466% 01/09/20260.7%
United States Treasury Note/Bond4.250% 01/31/20260.7%
Broadcom Inc6.372% 08/14/20260.7%
JPMorgan Chase & Co5.546% 12/15/20250.7%
United States Treasury Note/Bond4.250% 05/31/20250.7%
Baxter International Inc1.322% 11/29/20240.6%
Discover Card Execution Note Trust3.320% 05/15/20270.6%
Toronto-Dominion Bank/The4.285% 09/13/20240.6%
AT&T Inc5.539% 02/20/20260.6%
Goldman Sachs Group Inc/The5.842% 10/21/20240.6%
Bank of America Corp3.093% 10/01/20250.6%
First-Citizens Bank & Trust Co2.969% 09/27/20250.6%
Ovintiv Inc0.000% 09/20/20240.6%
NextGear Floorplan Master Owner Trust2.800% 03/15/20270.6%
UniCredit SpA2.569% 09/22/20260.6%
Lloyds Banking Group PLC3.511% 03/18/20260.6%
Standard Chartered PLC2.819% 01/30/20260.6%
Whirlpool Corp0.000% 09/17/20240.6%
Microchip Technology Inc6.401% 08/29/20250.5%
Morgan Stanley2.188% 04/28/20260.5%
Santander UK Group Holdings PLC6.833% 11/21/20260.5%
Toyota Motor Credit Corp6.008% 01/05/20260.5%
Brookfield Corporate Treasury Ltd0.000% 09/25/20240.5%
Glencore Funding LLC0.000% 12/20/20240.5%
GA Global Funding Trust6.717% 04/11/20250.5%
GE HealthCare Technologies Inc5.550% 11/15/20240.5%
Ford Credit Auto Owner Trust 2018-REV13.190% 07/15/20310.5%
Rolls-Royce PLC3.625% 10/14/20250.5%
AIB Group PLC7.583% 10/14/20260.5%
Ares XXXIV CLO Ltd6.606% 04/17/20330.5%
Danske Bank A/S1.621% 09/11/20260.5%
Targa Resources Corp0.000% 09/03/20240.5%
Vistra Operations Co LLC5.125% 05/13/20250.5%
Regatta XIV Funding Ltd6.436% 10/25/20310.5%
Wells Fargo & Co2.164% 02/11/20260.5%
Galaxy XXVI CLO Ltd6.291% 11/22/20310.5%
Solventum Corp0.068% 08/15/20250.5%
RTX Corp6.718% 05/07/20250.5%
Bank of America Corp3.384% 04/02/20260.5%
Goldman Sachs Bank USA/New York NY5.414% 05/21/20270.4%
Jefferies Financial Group Inc6.050% 03/12/20250.4%
General Motors Financial Co Inc5.976% 10/15/20240.4%
Bank of Nova Scotia/The5.250% 12/06/20240.4%
Goldman Sachs Bank USA/New York NY6.133% 03/18/20270.4%
Madison Park Funding XLII Ltd6.432% 11/21/20300.4%
General Motors Financial Co Inc6.413% 07/15/20270.4%
UBS Group AG2.593% 09/11/20250.4%
Wells Fargo Bank NA6.399% 08/07/20260.4%
American Honda Finance Corp6.067% 01/09/20260.4%
Bank of Nova Scotia/The6.420% 06/12/20250.4%
Citibank NA6.167% 09/29/20250.4%
Bank of Montreal6.312% 09/25/20250.4%
Toronto-Dominion Bank/The6.434% 07/17/20260.4%
TransCanada PipeLines Ltd6.885% 03/09/20260.4%
Royal Bank of Canada6.432% 07/20/20260.4%
State Street Corp6.188% 08/03/20260.4%
Goldman Sachs Group Inc/The6.403% 08/10/20260.4%
Amur Equipment Finance Receivables XIII LLC5.380% 01/21/20310.4%
Wells Fargo & Co2.188% 04/30/20260.4%
Nissan Auto Lease Trust 2023-B5.690% 07/15/20260.4%
Swedbank AB6.743% 06/15/20260.4%
National Bank of Canada6.262% 03/25/20270.4%
UBS Group AG2.193% 06/05/20260.4%
BPCE SA5.975% 01/18/20270.4%
Santander Drive Auto Receivables Trust 2024-25.800% 09/15/20270.4%
Hyundai Capital America6.663% 11/03/20250.4%
Hyundai Capital America6.493% 08/04/20250.4%
NatWest Markets PLC6.812% 03/22/20250.4%
TICP CLO VII Ltd6.601% 04/15/20330.4%
United States Treasury Note/Bond5.000% 09/30/20250.4%
Svenska Handelsbanken AB2.393% 06/15/20260.4%
BAXTER INTL INC0.066% 09/30/20260.4%
Invitation Homes Operating Partnership LP6.347% 01/31/20250.4%
Bank of America Corp0.981% 09/25/20250.4%
Octagon Investment Partners 30 Ltd6.547% 03/17/20300.4%
Air Lease Corp5.300% 06/25/20260.4%
Honda Auto Receivables 2023-4 Owner Trust5.670% 06/21/20280.4%
Barclays PLC2.852% 05/07/20260.4%
Home Depot Inc/The5.100% 12/24/20250.4%
HSBC Holdings PLC1.645% 04/18/20260.4%
Las Vegas Sands Corp2.900% 06/25/20250.4%
Affirm Asset Securitization Trust 2024-X16.270% 05/15/20290.4%
GA Global Funding Trust0.800% 09/13/20240.4%
Honda Auto Receivables 2023-1 Owner Trust5.040% 04/21/20270.4%
GS Mortgage Securities Corp Trust 2021-ROSS6.751% 05/15/20260.4%
American Express Co6.298% 03/04/20250.3%
Octane Receivables Trust 2024-15.680% 05/20/20300.3%
SBNA Auto Lease Trust 2024-A5.450% 01/20/20260.3%
Qorvo Inc1.750% 12/15/20240.3%
Royal Bank of Canada6.142% 07/23/20270.3%
American Tower Corp1.600% 04/15/20260.3%
BlueMountain Fuji US Clo I Ltd6.524% 07/20/20290.3%
Australia & New Zealand Banking Group Ltd6.036% 07/16/20270.3%
Allegro CLO VII Ltd6.431% 06/13/20310.3%
Mitsubishi UFJ Financial Group Inc6.770% 04/17/20260.3%
F&G Global Funding0.900% 09/20/20240.3%
BNP Paribas SA2.219% 06/09/20260.3%
Madison Park Funding XVII Ltd6.544% 07/21/20300.3%
UBS Group AG4.488% 05/12/20260.3%
Brunswick Corp/DE0.000% 09/27/20240.3%
Westlake Automobile Receivables Trust 2024-15.550% 11/15/20270.3%
OZLM Funding II Ltd6.455% 07/30/20310.3%
Dell Equipment Finance Trust 2023-15.650% 09/22/20280.3%
Ford Credit Auto Lease Trust 2023-A4.940% 03/15/20260.3%
OneMain Direct Auto Receivables Trust 2021-11.260% 07/14/20280.3%
Avolon Holdings Funding Ltd2.125% 02/21/20260.3%
Citigroup Inc5.610% 09/29/20260.3%
GM Financial Automobile Leasing Trust 2024-25.390% 07/20/20270.3%
GLP Capital LP / GLP Financing II Inc5.375% 04/15/20260.3%
Philip Morris International Inc5.125% 11/15/20240.3%
Dryden 40 Senior Loan Fund6.268% 08/15/20310.3%
Bank of America Corp1.658% 03/11/20270.3%
Hyundai Capital America6.858% 01/08/20270.3%
Spire Inc5.300% 03/01/20260.3%
Athene Global Funding5.684% 02/23/20260.3%
VICI Properties LP / VICI Note Co Inc4.625% 06/15/20250.3%
Apidos Clo Xxv6.432% 10/20/20310.3%
Dell Equipment Finance Trust 2024-15.390% 03/22/20300.3%
Enterprise Fleet Financing 2024-1 LLC5.230% 03/20/20300.3%
Corebridge Global Funding6.662% 09/25/20260.3%
Honda Auto Receivables 2024-2 Owner Trust5.270% 11/20/20280.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust1.750% 10/29/20240.3%
DLLAA 2023-1 LLC5.930% 07/20/20260.3%
AutoNation Inc0.000% 09/03/20240.3%
SBNA Auto Lease Trust 2024-B5.670% 11/20/20260.3%
Crestline Denali CLO XVII Ltd6.431% 10/15/20310.3%
Warnermedia Holdings Inc6.412% 03/15/20260.3%
Westlake Automobile Receivables Trust 2021-21.230% 12/15/20260.3%
Daimler Truck Finance North America LLC5.600% 08/08/20250.3%
PEAC Solutions Receivables 2024-1 LLC5.790% 06/21/20270.3%
Capital One Prime Auto Receivables Trust 2022-23.660% 05/17/20270.3%
Benefit Street Partners CLO XIX Ltd6.481% 01/15/20330.3%
National Securities Clearing Corp5.150% 06/26/20260.3%
Madison Park Funding XL Ltd6.586% 05/28/20300.3%
Citizens Bank NA/Providence RI5.284% 01/26/20260.3%
KKR CLO 40 Ltd6.582% 10/20/20340.3%
Barclays PLC7.325% 11/02/20260.3%
Verdant Receivables 2024-1 LLC5.680% 12/12/20310.3%
Flagship Credit Auto Trust 2023-35.890% 07/15/20270.3%
Bank of America Auto Trust 2023-25.740% 06/15/20280.3%
JPMorgan Chase Bank NA6.365% 12/08/20260.3%
HSBC USA Inc6.328% 03/04/20270.3%
BPCE SA5.926% 01/14/20250.3%
Bank of Montreal6.525% 12/11/20260.3%
Keurig Dr Pepper Inc6.243% 03/15/20270.3%
General Motors Financial Co Inc6.689% 05/08/20270.3%
Athene Global Funding6.572% 03/25/20270.3%
American Honda Finance Corp6.134% 03/12/20270.3%
AmeriCredit Automobile Receivables Trust 2023-26.190% 04/19/20270.3%
Australia & New Zealand Banking Group Ltd6.164% 01/18/20270.3%
Hyundai Capital America5.800% 06/26/20250.3%
UBS Group AG4.125% 09/24/20250.3%
Marvell Technology Inc6.727% 12/07/20250.3%
Mercedes-Benz Finance North America LLC5.977% 07/31/20260.3%
GLS Auto Select Receivables Trust 2024-35.590% 10/15/20290.3%
Carmax Auto Owner Trust 2023-25.050% 01/18/20280.3%
Ford Motor Credit Co LLC4.063% 11/01/20240.3%
Boeing Co/The4.875% 05/01/20250.2%
Westlake Automobile Receivables Trust 2024-25.560% 02/15/20280.2%
Ford Motor Credit Co LLC4.389% 01/08/20260.2%
NatWest Group PLC7.472% 11/10/20260.2%
TransCanada PipeLines Ltd6.203% 03/09/20260.2%
Regal Rexnord Corp6.050% 02/15/20260.2%
UBS Group AG3.750% 03/26/20250.2%
Aircastle Ltd5.250% 08/11/20250.2%
Citizens Auto Receivables Trust 2023-15.840% 01/18/20280.2%
Bank of Montreal5.200% 12/12/20240.2%
Magna International Inc5.980% 03/21/20260.2%
Global Payments Inc0.000% 09/03/20240.2%
AT&T Inc0.000% 09/30/20240.2%
Ford Credit Auto Lease Trust 2024-B4.990% 12/15/20270.2%
Westlake Automobile Receivables Trust 2024-15.440% 05/17/20270.2%
Navistar Financial Dealer Note Master Owner Trust5.590% 04/25/20290.2%
Glencore Funding LLC6.418% 04/04/20270.2%
Volkswagen Group of America Finance LLC6.193% 03/20/20260.2%
Merchants Fleet Funding LLC5.820% 04/20/20370.2%
KIND Trust 2021-KIND6.401% 08/15/20380.2%
Galaxy XIX CLO Ltd6.495% 07/24/20300.2%
GLP Capital LP / GLP Financing II Inc5.250% 06/01/20250.2%
Daimler Truck Finance North America LLC6.321% 09/25/20270.2%
Westlake Automobile Receivables Trust 2024-25.620% 03/15/20300.2%
Cigna Group/The5.685% 03/15/20260.2%
Brookfield Infrastructure Holdings Canada Inc0.000% 11/21/20240.2%
Affirm Asset Securitization Trust 2023-B6.820% 09/15/20280.2%
Celanese US Holdings LLC6.050% 03/15/20250.2%
Volkswagen Group of America Finance LLC5.800% 09/12/20250.2%
Skandinaviska Enskilda Banken AB6.257% 03/05/20270.2%
Macquarie Bank Ltd6.250% 07/02/20270.2%
ARI Fleet Lease Trust 2024-B5.540% 04/15/20330.2%
Huntington Auto Trust 2024-15.500% 03/15/20270.2%
Volkswagen Group of America Finance LLC6.294% 09/12/20250.2%
Royal Bank of Canada6.303% 01/19/20270.2%
American Honda Finance Corp6.067% 07/09/20270.2%
Morgan Stanley4.679% 07/17/20260.2%
American Express Co6.338% 10/30/20260.2%
Citigroup Inc3.106% 04/08/20260.2%
American Honda Finance Corp5.934% 08/14/20250.2%
ING Groep NV3.869% 03/28/20260.2%
Sumitomo Mitsui Financial Group Inc6.630% 07/13/20260.2%
Avolon Holdings Funding Ltd4.250% 04/15/20260.2%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.2%
Georgia Power Co6.089% 05/08/20250.2%
Citizens Auto Receivables Trust 2024-25.540% 11/16/20260.2%
Public Storage Operating Co6.056% 04/16/20270.2%
Post Road Equipment Finance 2024-1 LLC5.590% 11/15/20290.2%
Toronto-Dominion Bank/The3.766% 06/06/20250.2%
SFS Auto Receivables Securitization Trust 2024-25.710% 10/20/20270.2%
Lending Funding Trust 2020-22.320% 04/21/20310.2%
Bank of America Corp2.015% 02/13/20260.2%
Hyundai Auto Lease Securitization Trust 2024-B5.410% 05/17/20270.2%
Toyota Auto Receivables 2023-D Owner Trust5.540% 08/15/20280.2%
Hewlett Packard Enterprise Co5.900% 10/01/20240.2%
NRG Energy Inc2.000% 12/02/20250.2%
NextGear Floorplan Master Owner Trust6.454% 03/15/20280.2%
Verizon Master Trust5.230% 11/22/20270.2%
AmeriCredit Automobile Receivables Trust 2024-15.750% 02/18/20280.2%
BXHPP Trust 2021-FILM6.101% 08/15/20360.2%
Ford Credit Auto Owner Trust 2023-C5.530% 09/15/20280.2%
MF1 2021-FL6 Ltd6.553% 07/16/20360.2%
Enterprise Fleet Financing 2024-2 LLC5.740% 12/20/20260.2%
Hertz Vehicle Financing LLC1.210% 12/26/20250.2%
Santander Drive Auto Receivables Trust 2024-35.630% 01/16/20290.2%
Citibank NA6.050% 08/06/20260.2%
GreenSky Home Improvement Trust 2024-15.880% 06/25/20590.2%
ANZ New Zealand Int'l Ltd/London5.931% 02/18/20250.2%
National Australia Bank Ltd6.015% 12/10/20250.2%
Avis Budget Rental Car Funding AESOP LLC1.380% 08/20/20270.2%
BNP Paribas SA1.323% 01/13/20270.2%
Santander Consumer Auto Receivables Trust 2020-A10.120% 01/16/20290.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust1.650% 10/29/20240.2%
SBNA Auto Lease Trust 2023-A6.270% 04/20/20260.2%
Barclays PLC5.304% 08/09/20260.2%
Goldman Sachs Group Inc/The0.855% 02/12/20260.2%
Westlake Automobile Receivables Trust 2023-46.230% 01/15/20270.2%
Connecticut Avenue Securities Trust 2024-R056.349% 07/25/20440.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.450% 10/01/20250.2%
AES Corp/The3.300% 07/15/20250.2%
Credit Acceptance Auto Loan Trust 2023-16.480% 03/15/20330.2%
Ford Motor Credit Co LLC4.134% 08/04/20250.2%
Citizens Bank NA/Providence RI6.064% 10/24/20250.2%
Kroger Co/The4.700% 08/15/20260.2%
Synchrony Card Funding LLC3.860% 07/15/20280.2%
Aviation Capital Group LLC5.500% 12/15/20240.2%
CarMax Auto Owner Trust 2024-25.650% 05/17/20270.2%
Canadian Imperial Bank of Commerce5.144% 04/28/20250.2%
Synchrony Card Funding LLC3.370% 04/15/20280.2%
WGL Holdings Inc9292.000% 09/23/20240.1%
Avolon Holdings Funding Ltd2.875% 02/15/20250.1%
Algonquin Power & Utilities Corp5.365% 06/15/20260.1%
Ford Motor Credit Co LLC2.300% 02/10/20250.1%
SCF Equipment Leasing 2023-1 LLC6.560% 01/22/20300.1%
Ally Bank Auto Credit-Linked Notes Series 2024-A5.681% 05/17/20320.1%
OneMain Direct Auto Receivables Trust 2021-10.870% 07/14/20280.1%
Korea National Oil Corp6.415% 11/14/20260.1%
TCI-Flatiron Clo 2017-1 Ltd6.323% 11/18/20300.1%
Citizens Auto Receivables Trust 2023-26.090% 10/15/20260.1%
Air Lease Corp3.375% 07/01/20250.1%
Affirm Asset Securitization Trust 2023-B6.820% 09/15/20280.1%
GXO Logistics Inc1.650% 07/15/20260.1%
KREF 2021-FL2 Ltd6.521% 02/15/20390.1%
Mercedes-Benz Auto Receivables Trust 2023-25.950% 11/15/20280.1%
Macquarie Group Ltd1.340% 01/12/20270.1%
Santander Drive Auto Receivables Trust 2024-15.250% 04/17/20280.1%
Hyatt Hotels Corp1.800% 10/01/20240.1%
VStrong Auto Receivables Trust 2024-A5.790% 08/16/20270.1%
Viterra Finance BV2.000% 04/21/20260.1%
CarMax Auto Owner Trust 2023-46.080% 12/15/20260.1%
Brown & Brown Inc0.000% 10/27/20260.1%
Canadian Imperial Bank of Commerce5.774% 10/18/20240.1%
GreatAmerica Leasing Receivables Funding LLC Series 2021-21.040% 09/15/20270.1%
Public Storage Operating Co5.950% 07/25/20250.1%
BMW US Capital LLC6.137% 08/13/20260.1%
Korea National Oil Corp6.190% 04/03/20270.1%
VICI Properties LP / VICI Note Co Inc3.750% 02/15/20270.1%
Flagship Credit Auto Trust 2022-34.550% 04/15/20270.1%
DLLST 2024-1 LLC5.330% 01/20/20260.1%
BXMT 2020-FL2 LTD6.351% 02/15/20380.1%
Aqua Finance Trust 2021-A1.540% 07/17/20460.1%
Carmax Select Receivables Trust 2024-A5.780% 09/15/20270.1%
Hertz Vehicle Financing III LLC1.990% 06/25/20260.1%
Ford Credit Auto Lease Trust 2024-A5.290% 06/15/20270.1%
Ford Credit Auto Lease Trust 2024-A5.060% 05/15/20270.1%
VICI Properties LP4.375% 05/15/20250.1%
Navient Private Education Refi Loan Trust 2020-E1.690% 05/15/20690.1%
Home Depot Inc/The5.150% 06/25/20260.1%
Discover Card Execution Note Trust4.930% 06/15/20280.1%
Mercedes-Benz Auto Lease Trust 2024-A5.320% 01/18/20280.1%
Connecticut Avenue Securities Trust 2022-R026.549% 01/25/20420.1%
Digital Realty Trust LP6.377% 03/31/20250.1%
First Investors Auto Owner Trust 2022-26.260% 07/15/20270.1%
Amgen Inc5.507% 03/02/20260.1%
Wells Fargo Commercial Mortgage Trust 2015-C262.910% 02/15/20480.1%
Morgan Stanley0.864% 10/21/20250.1%
Freddie Mac STACR REMIC Trust 2022-DNA16.349% 01/25/20420.1%
Citigroup Commercial Mortgage Trust 2016-C12.944% 05/10/20490.1%
Bank of America Corp2.456% 10/22/20250.1%
Wells Fargo & Co3.908% 04/25/20260.1%
General Motors Financial Co Inc4.350% 04/09/20250.1%
Santander Drive Auto Receivables Trust 2024-15.710% 02/16/20270.1%
Citigroup Commercial Mortgage Trust 2015-GC353.549% 11/10/20480.1%
Goldman Sachs Group Inc/The3.272% 09/29/20250.1%
Chesapeake Funding II LLC5.520% 05/15/20360.1%
JPMDB Commercial Mortgage Securities Trust 2016-C23.144% 06/15/20490.1%
Macquarie Bank Ltd4.875% 06/10/20250.1%
Ford Motor Credit Co LLC4.687% 06/09/20250.1%
BXMT 2021-FL4 Ltd6.501% 05/15/20380.1%
Ovintiv Inc5.650% 05/15/20250.1%
American Electric Power Co Inc5.699% 08/15/20250.1%
LFT CRE 2021-FL1 Ltd6.621% 06/15/20390.1%
Citigroup Commercial Mortgage Trust 2016-P33.329% 04/15/20490.1%
Emera US Finance LP3.550% 06/15/20260.1%
GLS Auto Select Receivables Trust 2024-25.580% 06/17/20300.1%
AmeriCredit Automobile Receivables Trust 2024-15.430% 01/18/20290.1%
BX Trust 2021-ARIA6.350% 10/15/20360.1%
Jackson National Life Global Funding5.600% 04/10/20260.1%
UBS Group AG6.373% 07/15/20260.1%
Societe Generale SA2.226% 01/21/20260.1%
NextEra Energy Capital Holdings Inc5.749% 09/01/20250.1%
SBNA Auto Receivables Trust 2024-A5.700% 03/15/20270.1%
HSBC Holdings PLC2.099% 06/04/20260.1%
AmeriCredit Automobile Receivables Trust 2022-24.810% 04/18/20280.1%
Freddie Mac STACR REMIC Trust 2021-HQA46.299% 12/25/20410.1%
FS RIALTO6.673% 05/16/20380.1%
UBS AG/Stamford CT2.950% 04/09/20250.1%
Morgan Stanley Bank of America Merrill Lynch Trust 2015-C273.473% 12/15/20470.1%
Charter Communications Operating LLC / Charter Communications Operating Capital4.908% 07/23/20250.1%
GLS Auto Receivables Issuer Trust 2021-31.110% 09/15/20260.1%
GM Financial Consumer Automobile Receivables Trust 2023-15.190% 03/16/20260.1%
Aviation Capital Group LLC4.875% 10/01/20250.1%
Exeter Automobile Receivables Trust 2024-35.650% 12/15/20270.1%
Morgan Stanley2.630% 02/18/20260.1%
Avis Budget Rental Car Funding AESOP LLC2.360% 03/20/20260.1%
CSAIL 2016-C6 Commercial Mortgage Trust2.823% 01/15/20490.1%
HPEFS Equipment Trust 2023-15.430% 08/20/20250.1%
Westlake Flooring Master Trust5.430% 02/15/20280.1%
NextEra Energy Capital Holdings Inc6.051% 03/01/20250.1%
GA Global Funding Trust5.330% 09/13/20240.1%
HSBC Holdings PLC4.292% 09/12/20260.1%
Octagon Investment Partners XIV Ltd6.513% 07/15/20290.1%
Morgan Stanley Bank of America Merrill Lynch Trust 2015-C263.252% 10/15/20480.1%
Santander Drive Auto Receivables Trust 2022-54.740% 10/16/20280.1%
Nissan Auto Receivables 2023-B Owner Trust5.930% 03/15/20280.1%
Wells Fargo Commercial Mortgage Trust 2015-NXS13.148% 05/15/20480.1%
UnitedHealth Group Inc5.850% 07/15/20260.1%
Exeter Automobile Receivables Trust 2024-35.820% 02/15/20270.1%
SCF Equipment Leasing 2024-1 LLC5.880% 11/20/20290.1%
Affirm Asset Securitization Trust 2023-A6.610% 01/18/20280.1%
Carvana Auto Receivables Trust 2021-N11.090% 01/10/20280.1%
Ford Motor Credit Co LLC5.125% 06/16/20250.1%
Fannie Mae Connecticut Avenue Securities6.249% 11/25/20410.1%
East Ohio Gas Co/The1.300% 06/15/20250.1%
Danske Bank A/S3.244% 12/20/20250.1%
Crown Castle Inc1.350% 07/15/20250.1%
RenaissanceRe Finance Inc3.700% 04/01/20250.1%
Aviation Capital Group LLC1.950% 09/20/20260.1%
Wells Fargo Commercial Mortgage Trust 2016-NXS53.370% 01/15/20590.1%
Westlake Automobile Receivables Trust 2023-25.870% 07/15/20260.1%
Morgan Stanley Capital I Trust 2016-UBS93.594% 03/15/20490.1%
Athene Global Funding2.550% 06/29/20250.1%
GA Global Funding Trust1.625% 01/15/20260.0%
CSAIL 2016-C6 Commercial Mortgage Trust3.090% 01/15/20490.0%
Synchrony Financial4.875% 06/13/20250.0%
Cleco Corporate Holdings LLC3.743% 05/01/20260.0%
Discovery Communications LLC3.950% 06/15/20250.0%
Toronto-Dominion Bank/The5.715% 09/10/20240.0%
JPMDB Commercial Mortgage Securities Trust 2016-C22.881% 06/15/20490.0%
Corebridge Global Funding5.750% 07/02/20260.0%
Trimble Inc4.750% 12/01/20240.0%
Bank of Ireland Group PLC6.253% 09/16/20260.0%
Amgen Inc5.250% 03/02/20250.0%
Targa Resources Corp0.000% 09/06/20240.0%
Volkswagen Auto Lease Trust 2022-A3.440% 07/21/20250.0%
Santander Drive Auto Receivables Trust 2023-46.180% 02/16/20270.0%
BAXTER INTL INC0.065% 09/30/20240.0%
Citigroup Commercial Mortgage Trust 2016-GC373.050% 04/10/20490.0%
HGI CRE CLO 2021-FL1 Ltd6.503% 06/16/20360.0%
Capital One Prime Auto Receivables Trust 2023-15.200% 05/15/20260.0%
Ford Motor Credit Co LLC3.375% 11/13/20250.0%
Toyota Motor Credit Corp6.109% 08/07/20260.0%
Flagship Credit Auto Trust 2023-15.380% 12/15/20260.0%
Nuveen Finance LLC4.125% 11/01/20240.0%
Csail 2015-C2 Commercial Mortgage Trust3.231% 06/15/20570.0%
First Investors Auto Owner Trust 2021-20.480% 03/15/20270.0%
CarMax Auto Owner Trust 2023-15.230% 01/15/20260.0%
Affirm Asset Securitization Trust 2022-X11.750% 02/15/20270.0%
Freddie Mac STACR REMIC Trust 2021-DNA66.149% 10/25/20410.0%
Tricolor Auto Securitization Trust 2023-16.480% 08/17/20260.0%
Pagaya AI Debt Trust 2022-12.030% 10/15/20290.0%
Mercedes-Benz Auto Receivables Trust 2023-15.090% 01/15/20260.0%
GLS Auto Receivables Issuer Trust 2021-21.080% 06/15/20260.0%
Octane Receivables Trust 2021-10.930% 03/22/20270.0%
Arivo Acceptance Auto Loan Receivables Trust 2021-11.190% 01/15/20270.0%

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For
YTD Dividends Paidas of 10/11/2024
$0.38117
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2024 $0.04188 $10.03
Daily Daily 08/31/2024 $0.04352 $10.02
Daily Daily 07/31/2024 $0.04321 $10.01
Daily Daily 06/30/2024 $0.04262 $9.98
Daily Daily 05/31/2024 $0.04337 $9.98
Daily Daily 04/30/2024 $0.04208 $9.97
Daily Daily 03/31/2024 $0.04243 $9.97
Daily Daily 02/29/2024 $0.04025 $9.97
Daily Daily 01/31/2024 $0.04180 $9.97

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 10/31/2024
Daily Daily 11/30/2024
Daily Daily 12/31/2024

CAPITAL GAINS DISTRIBUTIONS

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/14/2017 12/15/2017 - $0.0003 $0.0003 $10.01
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 09/30/2024

Fund Gross Expense Ratio 0.43%
Fund Net Expense Ratio 0.43%
Adjusted Expense Ratio -

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
Annual Financial Statements and Other Information *
Publish Date:11/03/2015
Semi-Annual Financial Statements and Other Information *
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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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.      

                    

1

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.

 

2

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

 

3

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

 

IMPORTANT INFORMATION

 

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investing strategy.

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. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. 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. Although the Fund may invest in money market securities, this is not a money market fund. These factors can affect Fund performance. As it is a newly organized fund, the Fund’s performance at this time is very limited. The Fund's performance achieved during its initial period of investment operation may not be replicated over longer periods and may not be indicative of how the Fund will perform in the future. Past performance is no guarantee of future results.

 

 

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.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

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 ICE BofA ML U.S. Treasury Bill Index tracks the performance of US dollar denominated US Treasury Bills publicly issued in the US domestic market. Qualifying securities must have at least one month remaining term to final maturity and a minimum amount outstanding of $1 billion. The benchmark has not been examined by Deloitte & Touche LLP. 
 

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

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.

 

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.

 

Select funds to run a Morningstar Hypothetical Report.

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