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Ultra Short Bond Fund

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

7 Day Yield 1,4 as of 06/03/2020  

w/o sales charge 1.22%

30-Day Standardized Yield 2 as of 04/30/2020  

2.19%

Fund Basicsas of 04/30/2020

Total Net Assets
$18.22 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.25%
Number of Holdings
514

Fund Expense Ratio :

0.25%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 0.37% 1.91% 2.10% - - 2.03%
Lipper Category Avg. Ultra-Short Obligations Funds - - - - - -
ICE BofA U.S. Treasury Bill Index - - - - - -

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge -1.30% 0.68% 1.67% - - 1.63%
Lipper Category Avg. Ultra-Short Obligations Funds -1.74% 0.21% 1.24% - - -
ICE BofA U.S. Treasury Bill Index 0.65% 2.37% 1.86% - - -

Fund Expense Ratio :

0.25%

RELATED CONTENT

Short Credit: Our Answers to Investors’ Top Questions
March 18, 2020

Lord Abbett experts offer their perspective on key topics for investors in short duration and ultra-short bonds.

Short Credit: Our Answers to Investors’ Top Questions
March 18, 2020

Lord Abbett experts offer their perspective on key topics for investors in short duration and ultra-short bonds.

The Lord Abbett Ultra Short Bond Fund: An Update
March 18, 2020

How have we positioned the Fund during the current market volatility?

Type Assets
Corp Floating
Commercial Paper
ABS
U.S. Government Related
Corp Fixed Rate
Cash
Maturity Assets
Less than 1 year
1-2.99 years

Credit Quality Distribution as of 04/30/2020 View Portfolio

Rating Assets
A-1/P-1
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB
<BBB

INVESTMENT TEAM

Yoana N. Koleva
Yoana N. Koleva, CFA

Managing Director & Portfolio Manager

17 Years of Industry Experience

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

Partner & Portfolio Manager

22 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

Supported By 61 Investment Professionals with 16 Years Avg. Industry Experience

Your Representative

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Performance

Performance

NAV HISTORICAL PRICES

Date Net Asset Value
Year Fund Returns ICE BofA U.S. Treasury Bill Index
2019 3.03% 2.35%
2018 2.11% 1.88%
2017 1.63% 0.82%
2016 0.20% 0.37%
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -1.30% - - - 0.48%
2019 1.00% 0.79% 0.64% 0.57% 3.03%
2018 0.37% 0.68% 0.61% 0.44% 2.11%
2017 0.41% 0.44% 0.37% 0.40% 1.63%
2016 - - - - 0.20%

Portfolio

Portfolio

Type Assets
Corp Floating
Commercial Paper
ABS
U.S. Government Related
Corp Fixed Rate
Cash
Maturity Assets
Less than 1 year
1-2.99 years

CREDIT QUALITY DISTRIBUTION as of 04/30/2020

Rating Assets
A-1/P-1
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB
<BBB

Portfolio Positioning as of 3/31/2020

  • Coming into the quarter we had been maintaining a defensive posture within the Fund, focusing on higher-quality opportunities.
  • While the Fund can hold up to 15% in BBB-rated securities, the portfolio’s BBB-rated allocation was at the lower end of the historical range. Additionally, the portfolio’s overall risk levels, in terms of spread duration, were at the lower end of where they have been, historically.
  • We are currently monitoring the impact of the Fed’s new programs within the commercial paper market. We have already noticed commercial paper yields have been adjusting down in response to the CPFF (Commercial Paper Funding Facility), with more buyers willing to step in. We also expect that the Money Market Mutual Fund Liquidity Facility and the Primary Dealer Credit Facility will help support liquidity within the commercial paper market.
  • While there has been a great deal of volatility in rates and spreads, the portfolio remains high-quality, short-term and very liquid. We remain focused on maintaining a high degree of liquidity in the portfolio, which may allow us to take advantage of attractive opportunities as wider spreads present themselves.
  • We continue to favor ABS that are backed by credit cards and auto loans, and have avoided areas of the market that have been more directly exposed to the impact of the coronavirus (such as containers and aircraft ABS).
  • We are monitoring the Fed’s actions in response to the dislocation within the short-term markets. We are hopeful that the policies that have been enacted will help ease some of the dislocation at the front end of the yield curve.

Portfolio Details as of 04/30/2020

Total Net Assets
$18.22 B
Number of Issues
514
Average Coupon
1.63%
Average Life
0.89 Years
Average Effective Duration
0.18 Years

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For
YTD Dividends Paidas of 06/03/2020
$0.076
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 05/31/2020 $0.01196 $9.99
Daily Daily 04/30/2020 $0.01405 $9.95
Daily Daily 03/31/2020 $0.01631 $9.85
Daily Daily 02/29/2020 $0.01620 $10.03
Daily Daily 01/31/2020 $0.01788 $10.03

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 06/30/2020
Daily Daily 07/31/2020
Daily Daily 08/31/2020
Daily Daily 09/30/2020
Daily Daily 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

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

Upcoming Capital Gain Distribution

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
12/17/2020 12/18/2020

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 04/30/2020

0.25%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
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Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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

Class F3 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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