LUBYX | Ultra Short Bond Fund Class I | Lord Abbett

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Ultra Short Bond Fund

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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

7 Day Yield 1,4 as of 11/30/2022  

w/o sales charge 3.32%

30-Day Standardized Yield 2 as of 10/31/2022  

3.85%

Fund Basicsas of 10/31/2022

Total Net Assets
$11.71 B
Inception Date
10/17/2016
Dividend Frequency
Monthly
Fund Expense Ratio
0.28%
Number of Holdings
343
Minimum Initial Investment

Fund Expense Ratio :

0.28%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge -0.45% -0.47% 0.35% 1.20% - 1.25%
Lipper Category Avg. Ultra-Short Obligations Funds - - - - - -
ICE BofA U.S. Treasury Bill Index - - - - - -

Fund Expense Ratio :

0.28%

Fund Expense Ratio :

0.28%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge -1.05% -1.18% 0.30% 1.13% - 1.18%
Lipper Category Avg. Ultra-Short Obligations Funds -0.95% -1.12% 0.41% 1.10% - -
ICE BofA U.S. Treasury Bill Index 0.47% 0.47% 0.58% 1.14% - 1.07%

Fund Expense Ratio :

0.28%

RELATED CONTENT

Podcast: Addressing a Core Issue for Fixed-Income Investors
October 26, 2021

In this podcast, investment strategist Joseph Graham discusses why investors may wish to rethink their current allocations to core bonds

Type Assets
Corp Fixed Rate
Corp Floating
ABS
Commercial Paper
CLO
CMBS
U.S. Government Related
Bank Loans
MBS
Cash
Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
Greater than 10 years

Credit Quality Distribution as of 10/31/2022 View Portfolio

Rating Assets
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB
<BBB
Not Rated

INVESTMENT TEAM

Yoana N. Koleva
Yoana N. Koleva, CFA

Partner, Portfolio Manager

19 Years of Industry Experience

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

Partner & Portfolio Manager

24 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

28 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

14 Years of Industry Experience

Supported By 70 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
2021 0.05% 0.05%
2020 1.26% 0.74%
2019 2.98% 2.35%
2018 2.08% 1.88%
2017 1.59% 0.82%
2016 0.19% 0.37%
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -0.74% -0.52% 0.22% - -0.45%
2021 0.02% 0.13% 0.04% -0.13% 0.05%
2020 -1.31% 2.08% 0.39% 0.13% 1.26%
2019 0.89% 0.77% 0.63% 0.65% 2.98%
2018 0.36% 0.57% 0.70% 0.44% 2.08%
2017 0.40% 0.43% 0.36% 0.39% 1.59%
2016 - - - - 0.19%

Portfolio

Portfolio

Type Assets
Corp Fixed Rate
Corp Floating
ABS
Commercial Paper
CLO
CMBS
U.S. Government Related
Bank Loans
MBS
Cash
Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
Greater than 10 years

CREDIT QUALITY DISTRIBUTION as of 10/31/2022

Rating Assets
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB
<BBB
Not Rated

Portfolio Positioning as of 9/30/2022

  • During the quarter we focused on shifting the Fund’s overall positioning to be higher in quality and liquidity. Specifically, we used less volatile market days to take gains in lower quality holdings and reposition the portfolio to a higher quality profile, taking advantage of short-term liquidity.
  • We increased the portfolio’s allocation to asset-backed securities (ABS). This was consistent with the up-in-liquidity, up-in-quality theme during the quarter. We specifically added to AAA-rated consumer-backed credit card receivables and auto-loans. Any sales within the ABS sector were “whole business” ABS with labor-intensive business collateral.
  • Corporate floating-rate notes underperformed in July and August and we used this opportunity to add in several credits.
  • We reduced our overall exposure to commercial mortgage-backed securities (CMBS) and non-agency residential mortgage-backed securities (RMBS) as we looked to trim the portfolio’s real estate related risk.

Portfolio Details as of 10/31/2022

Total Net Assets
$11.71 B
Number of Issues
343
Average Coupon
2.99%
Average Life
1.05 Years
Average Effective Duration
0.62 Years
Average Yield to Worst
5.74%

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For
YTD Dividends Paidas of 11/30/2022
$0.144
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2022 $0.02593 $9.80
Daily Daily 10/31/2022 $0.02298 $9.77
Daily Daily 09/30/2022 $0.01965 $9.79
Daily Daily 08/31/2022 $0.01772 $9.84
Daily Daily 07/31/2022 $0.01404 $9.84
Daily Daily 06/30/2022 $0.01135 $9.82
Daily Daily 05/31/2022 $0.00929 $9.86
Daily Daily 04/30/2022 $0.00746 $9.88
Daily Daily 03/31/2022 $0.00598 $9.90
Daily Daily 02/28/2022 $0.00561 $9.95
Daily Daily 01/31/2022 $0.00468 $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 12/31/2022

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
12/19/2022 12/20/2022

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 10/31/2022

0.28%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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