LUBVX | Ultra Short Bond Fund Class R5 | Lord Abbett

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Ultra Short Bond Fund

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Daily price w/o sales charge as of 11/29/2023

$9.93

arrowUp$0.01

YTD Returns w/o sales charge as of 11/29/2023

5.29%

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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 10/31/2023

6.41%

30-Day Standardized Yield 1 as of 10/31/2023  

5.47%

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 10/31/2023

Total Net Assets
$8.87 B
Inception Date
10/17/2016
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.28%
Fund Net Expense Ratio
0.28%
Number of Holdings
309

Fund Expense Ratio :

0.28%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 4.46% 5.57% 1.52% 1.80% - 1.79%
Lipper Category Avg. Ultra-Short Obligations Funds 4.37% 5.35% 1.59% 1.83% - -
ICE BofA U.S. Treasury Bill Index 4.10% 4.84% 1.82% 1.79% - 1.60%

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 4.03% 5.06% 1.40% 1.75% - 1.76%
Lipper Category Avg. Ultra-Short Obligations Funds 3.96% 4.94% 1.48% 1.77% - -
ICE BofA U.S. Treasury Bill Index 3.64% 4.53% 1.67% 1.73% - 1.56%

Fund Expense Ratio :

0.28%

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
Corp Floating
ABS
Commercial Paper
CLO
U.S. Government Related
CMBS
Bank Loans
MBS
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
5-6.99 years

Credit Quality Distribution as of 10/31/2023 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

20 Years of Industry Experience

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

Partner, Portfolio Manager

25 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner, Portfolio Manager

29 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

15 Years of Industry Experience

Supported By 78 Investment Professionals with 17 Years Avg. Industry Experience

Your Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

NAV HISTORICAL PRICES

Date Net Asset Value

Fund Expense Ratio :

Gross 0.28%

Net 0.28%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 4.46% 5.57% 1.52% 1.80% - 1.79%
Lipper Category Avg. Ultra-Short Obligations Funds 4.37% 5.35% 1.59% 1.83% - -
ICE BofA U.S. Treasury Bill Index 4.10% 4.84% 1.82% 1.79% - 1.60%
w/ sales charge 4.46% 5.57% 1.52% 1.80% - 1.79%

Fund Expense Ratio :

Gross 0.28%

Net 0.28%

Fund Expense Ratio :

Gross 0.28%

Net 0.28%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 4.03% 5.06% 1.40% 1.75% - 1.76%
Lipper Category Avg. Ultra-Short Obligations Funds 3.96% 4.94% 1.48% 1.77% - -
ICE BofA U.S. Treasury Bill Index 3.64% 4.53% 1.67% 1.73% - 1.56%

Fund Expense Ratio :

Gross 0.28%

Net 0.28%

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
2022 0.04% 1.34%
2021 0.06% 0.05%
2020 1.26% 0.74%
2019 2.99% 2.35%
2018 2.10% 1.88%
2017 1.60% 0.82%
2016 0.19% 0.37%
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 1.47% 1.09% 1.42% - 5.29%
2022 -0.74% -0.52% 0.32% 0.99% 0.04%
2021 0.02% 0.13% 0.04% -0.13% 0.06%
2020 -1.31% 2.18% 0.29% 0.13% 1.26%
2019 1.00% 0.78% 0.63% 0.56% 2.99%
2018 0.36% 0.67% 0.61% 0.44% 2.10%
2017 0.40% 0.44% 0.37% 0.39% 1.60%
2016 - - - - 0.19%

Portfolio

Portfolio

Type Assets
Corp Fixed Rate
Corp Floating
ABS
Commercial Paper
CLO
U.S. Government Related
CMBS
Bank Loans
MBS
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
5-6.99 years

CREDIT QUALITY DISTRIBUTION as of 10/31/2023

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 9/30/2023

  • Despite rising short-term rates, the portfolio’s allocation to fixed-rate corporate bonds contributed due to their attractive carry. Over the quarter, we added to fixed coupon corporate bonds, where we continue to find good value in short-maturity bonds issued by European banks with attractive yields.
  • An allocation to short-term corporate floating-rate notes also contributed as rates rose and their floating coupons adjusted higher. Over the period, we increased exposure to floating rate corporates.
  • The portfolio’s allocation to Commercial Paper also led to a positive impact given the very short maturity nature of the asset class. While we still favor Commercial Paper, we allowed some of our allocation to roll off given more attractive relative value in other sectors.
  • The portfolios allocation to asset-backed securities (ABS) also contributed to the absolute returns of the Strategy. We continue to favor high-quality ABS within the auto and consumer loan sectors, focusing on newly originated loans with superior underwriting. The majority of the reductions in the asset class over the quarter were due to paydowns by various issuers.
  • Additionally, the portfolio’s allocation to collateralized loan obligations (CLO) contributed to returns, as spreads tightened within high quality CLOs. We’re comfortable with the credit profiles of the CLO holdings as the allocation is in very short maturity, AAA-rated issues that exhibit low spread volatility. 

Portfolio Details as of 10/31/2023

Total Net Assets
$8.87 B
Average Effective Duration
0.7 Years
Average Life
0.94 Years
Number of Issues
309
Average Yield to Maturity
6.41%

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

Holding Coupon Maturity Assets
United States Treasury Bill 0.000% 01/09/2024 3.1%
HSBC Holdings PLC 3.803% 03/11/2025 1.3%
NatWest Group PLC 4.269% 03/22/2025 1.3%
Wells Fargo & Co 2.406% 10/30/2025 1.2%
Marathon Oil Corp 0.000% 11/13/2023 1.1%
Hyundai Capital America 0.800% 01/08/2024 1.1%
Bayer Corp 0.000% 07/08/2024 1.1%
Charter Communications Operating LLC 7.074% 04/30/2025 1.1%
BNP Paribas SA 2.819% 11/19/2025 1.1%
Morgan Stanley 5.766% 01/25/2024 1.1%
% of Total Assets 13.5%
Holding Coupon Maturity Assets
United States Treasury Bill0.000% 01/09/20243.1%
NatWest Group PLC4.269% 03/22/20251.3%
HSBC Holdings PLC3.803% 03/11/20251.2%
Hyundai Capital America0.800% 01/08/20241.1%
Bayer Corp0.000% 07/08/20241.1%
Charter Communications Operating LLC7.101% 04/30/20251.1%
Morgan Stanley5.778% 01/25/20241.1%
Danske Bank A/S5.375% 01/12/20241.0%
United States Treasury Note/Bond4.250% 05/31/20251.0%
Macquarie Group Ltd6.207% 11/22/20241.0%
AT&T Inc0.000% 12/19/20230.9%
Crown Castle Inc0.000% 11/02/20230.9%
Brookfield Infrastructure Holdings Canada Inc0.000% 10/05/20230.9%
JPMorgan Chase & Co5.546% 12/15/20250.8%
UniCredit SpA7.830% 12/04/20230.8%
Westlake Automobile Receivables Trust 2021-10.950% 03/16/20260.8%
Brookfield Infrastructure Holdings Canada Inc0.000% 11/02/20230.8%
ENERGY TRANSFER PARTNERS0.000% 10/02/20230.8%
Bank of Ireland Group PLC4.500% 11/25/20230.8%
United States Treasury Note/Bond5.000% 08/31/20250.8%
Citigroup Inc3.352% 04/24/20250.8%
NUTRITION BIOSCIENCES INC0.070% 02/01/20240.8%
Charter Communications Operating LLC / Charter Communications Operating Capital7.284% 02/01/20240.7%
Octagon Investment Partners 30 Ltd6.570% 03/17/20300.7%
Goldman Sachs Group Inc/The5.792% 10/21/20240.7%
BNP Paribas SA2.819% 11/19/20250.7%
Toronto-Dominion Bank/The4.285% 09/13/20240.7%
CommonSpirit Health0.000% 10/25/20230.7%
NextEra Energy Capital Holdings Inc5.725% 11/03/20230.7%
BlueMountain Fuji US Clo I Ltd6.568% 07/20/20290.6%
Conagra Brands Inc0.000% 10/03/20230.6%
Madison Park Funding XI Ltd6.507% 07/23/20290.6%
Glencore Funding LLC4.625% 04/29/20240.6%
Morgan Stanley3.620% 04/17/20250.6%
Morgan Stanley5.945% 01/24/20250.6%
Bank of Montreal6.022% 03/08/20240.6%
Targa Resources Corp0.000% 11/03/20230.6%
BPCE SA5.700% 10/22/20230.6%
Santander UK Group Holdings PLC4.796% 11/15/20240.6%
GE HealthCare Technologies Inc5.550% 11/15/20240.6%
CommonSpirit Health0.000% 11/16/20230.6%
UBS Group AG3.750% 03/26/20250.6%
Jackson National Life Global Funding6.470% 06/28/20240.6%
Madison Park Funding XVII Ltd6.595% 07/21/20300.6%
Octagon Investment Partners XIV Ltd6.520% 07/15/20290.5%
Ford Credit Auto Lease Trust 2023-A4.940% 03/15/20260.5%
Galaxy XIX CLO Ltd6.557% 07/24/20300.5%
DLLAA 2023-1 LLC5.930% 07/20/20260.5%
GA Global Funding Trust6.634% 04/11/20250.5%
Bank of America Corp5.986% 02/04/20250.5%
Bayer Corp0.000% 07/09/20240.5%
General Motors Financial Co Inc5.907% 10/15/20240.5%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.875% 01/16/20240.5%
Bank of Nova Scotia/The5.250% 12/06/20240.5%
Ford Credit Auto Owner Trust 2018-REV13.190% 07/15/20310.5%
Wells Fargo Bank NA6.383% 08/07/20260.5%
AmeriCredit Automobile Receivables Trust 2023-26.190% 04/19/20270.5%
Royal Bank of Canada6.379% 07/20/20260.5%
Octagon Investment Partners 31 Ltd6.638% 07/20/20300.5%
Toronto-Dominion Bank/The6.367% 07/17/20260.5%
Commonwealth Bank of Australia6.060% 03/13/20260.5%
State Street Corp6.170% 08/03/20260.5%
Goldman Sachs Group Inc/The6.387% 08/10/20260.5%
Bank of Nova Scotia/The6.400% 06/12/20250.5%
TransCanada PipeLines Ltd6.832% 03/09/20260.5%
BNP Paribas SA4.705% 01/10/20250.5%
CenterPoint Energy Inc5.972% 05/13/20240.5%
Citibank NA6.125% 09/29/20250.5%
Bank of Montreal21.120% 09/25/20250.5%
JABIL INC0.000% 10/02/20230.5%
Bank of America Corp3.093% 10/01/20250.5%
General Motors Financial Co Inc6.520% 11/17/20230.5%
RWE AG0.000% 10/20/20230.5%
Swedbank AB6.691% 06/15/20260.5%
Arrow Electronics Inc0.000% 10/11/20230.5%
Hyundai Capital America6.474% 08/04/20250.5%
PFS Financing Corp1.000% 10/15/20250.5%
Galaxy XXIII CLO Ltd6.477% 04/24/20290.5%
NatWest Markets PLC6.757% 03/22/20250.5%
Invitation Homes Operating Partnership LP6.416% 01/31/20250.5%
Atrium IX6.637% 05/28/20300.4%
Royal Bank of Canada4.950% 04/25/20250.4%
Svenska Handelsbanken AB2.347% 06/15/20260.4%
LFT CRE 2021-FL1 Ltd7.197% 06/15/20390.4%
TCI-Flatiron Clo 2017-1 Ltd6.601% 11/18/20300.4%
NextEra Energy Capital Holdings Inc2.940% 03/21/20240.4%
Volkswagen Auto Lease Trust 2022-A3.440% 07/21/20250.4%
Crown Castle Inc0.000% 10/05/20230.4%
Avolon Holdings Funding Ltd5.250% 05/15/20240.4%
Barclays PLC2.852% 05/07/20260.4%
UBS AG5.125% 05/15/20240.4%
General Motors Financial Co Inc5.100% 01/17/20240.4%
American Express Co6.246% 03/04/20250.4%
Mitsubishi UFJ Financial Group Inc6.750% 04/17/20260.4%
Mercedes-Benz Finance North America LLC6.240% 03/30/20250.4%
KREF 2021-FL2 Ltd6.517% 02/15/20390.4%
GS Mortgage Securities Corp Trust 2021-ROSS6.597% 05/15/20260.4%
BAXTER INTL INC0.064% 09/30/20240.4%
GA Global Funding Trust0.800% 09/13/20240.4%
Standard Chartered PLC3.785% 05/21/20250.4%
GM Financial Consumer Automobile Receivables Trust 2023-15.190% 03/16/20260.4%
UBS Group AG2.593% 09/11/20250.4%
Danske Bank A/S6.466% 01/09/20260.4%
Honda Auto Receivables 2022-2 Owner Trust3.810% 03/18/20250.4%
Credit Suisse AG/New York NY1.490% 02/02/20240.4%
Toyota Auto Receivables 2022-C Owner Trust3.830% 08/15/20250.4%
BPCE SA5.150% 07/21/20240.4%
Truist Financial Corp5.310% 06/09/20250.4%
Intesa Sanpaolo SpA5.250% 01/12/20240.4%
UBS Group AG4.488% 05/12/20260.4%
Santander Drive Auto Receivables Trust 2022-22.980% 10/15/20260.4%
Glencore Funding LLC0.000% 12/21/20230.4%
Flagship Credit Auto Trust 2023-35.890% 07/15/20270.4%
Brighthouse Financial Global Funding6.040% 04/12/20240.4%
OneMain Direct Auto Receivables Trust 2021-10.870% 07/14/20280.4%
Philip Morris International Inc5.125% 11/15/20240.4%
Enbridge Inc5.950% 02/16/20240.4%
AES Corp/The0.000% 11/06/20230.4%
OneMain Direct Auto Receivables Trust 2021-11.260% 07/14/20280.4%
Morgan Stanley Bank NA6.091% 07/16/20250.3%
UBS Group AG2.193% 06/05/20260.3%
Regatta Funding LP 2013-2A6.420% 01/15/20290.3%
Bank of America Corp3.458% 03/15/20250.3%
Boeing Co/The1.433% 02/04/20240.3%
Standard Chartered PLC5.200% 01/26/20240.3%
Corebridge Global Funding6.603% 09/25/20260.3%
Daimler Truck Finance North America LLC5.600% 08/08/20250.3%
First Investors Auto Owner Trust 2021-20.480% 03/15/20270.3%
Marlette Funding Trust 2021-31.300% 12/15/20310.3%
Westlake Automobile Receivables Trust 2023-25.870% 07/15/20260.3%
Westlake Automobile Receivables Trust 2021-21.230% 12/15/20260.3%
Bank of America Corp3.841% 04/25/20250.3%
LFT CRE 2021-FL1 Ltd6.617% 06/15/20390.3%
BPCE SA5.854% 01/14/20250.3%
Wells Fargo & Co2.164% 02/11/20260.3%
Hyundai Capital America5.800% 06/26/20250.3%
Australia & New Zealand Banking Group Ltd6.012% 07/03/20250.3%
Hertz Vehicle Financing LLC1.210% 12/26/20250.3%
Bank of Montreal5.200% 12/12/20240.3%
AES CORP DISC COML PAPER0.000% 10/02/20230.3%
Lloyds Banking Group PLC3.900% 03/12/20240.3%
TARGA RESOURCES CORP7.068% 07/11/20250.3%
GLS Auto Receivables Issuer Trust 2021-31.110% 09/15/20260.3%
MF1 2021-FL6 Ltd6.545% 07/16/20360.3%
Santander Retail Auto Lease Trust 2021-A0.920% 03/20/20260.3%
KIND Trust 2021-KIND6.397% 08/15/20380.3%
AT&T Inc5.539% 02/20/20260.3%
World Omni Automobile Lease Securitization Trust 2022-A3.210% 02/18/20250.3%
JPMorgan Chase & Co3.845% 06/14/20250.3%
Goldman Sachs Group Inc/The6.701% 03/15/20240.3%
Citizens Auto Receivables Trust 2023-26.090% 10/15/20260.3%
Barclays PLC3.932% 05/07/20250.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust1.750% 10/29/20240.3%
UBS AG/London0.700% 08/09/20240.3%
Park Aerospace Holdings Ltd5.500% 02/15/20240.3%
NatWest Markets PLC5.852% 08/12/20240.3%
CommonSpirit Health0.000% 10/04/20230.3%
Goldman Sachs Group Inc/The6.005% 01/24/20250.3%
Barclays PLC7.325% 11/02/20260.3%
DNB Bank ASA2.968% 03/28/20250.3%
Oracle Corp0.000% 11/03/20230.3%
Sumitomo Mitsui Financial Group Inc6.610% 07/13/20260.3%
Volkswagen Group of America Finance LLC6.242% 09/12/20250.3%
Donlen Fleet Lease Funding 2 LLC0.560% 12/11/20340.2%
Tesla Auto Lease Trust 2021-A1.020% 03/20/20250.2%
Volkswagen Group of America Finance LLC5.800% 09/12/20250.2%
Avolon Holdings Funding Ltd5.125% 10/01/20230.2%
Global Payments Inc0.000% 10/16/20230.2%
ING Groep NV3.869% 03/28/20260.2%
Freddie Mac STACR REMIC Trust 2022-DNA16.315% 01/25/20420.2%
BMW Vehicle Lease Trust 2023-15.270% 02/25/20250.2%
Wells Fargo & Co2.406% 10/30/20250.2%
Toronto-Dominion Bank/The3.766% 06/06/20250.2%
Hewlett Packard Enterprise Co5.900% 10/01/20240.2%
NextGear Floorplan Master Owner Trust6.413% 03/15/20280.2%
Verizon Master Trust5.230% 11/22/20270.2%
F&G Global Funding0.900% 09/20/20240.2%
Parker-Hannifin Corp3.650% 06/15/20240.2%
Bank of America Corp2.015% 02/13/20260.2%
Lending Funding Trust 2020-22.320% 04/21/20310.2%
BXMT 2020-FL2 LTD6.347% 02/15/20380.2%
BXHPP Trust 2021-FILM6.097% 08/15/20360.2%
CBAM 2019-9 Ltd6.841% 02/12/20300.2%
BXMT 2021-FL4 Ltd6.497% 05/15/20380.2%
HPEFS Equipment Trust 2023-15.430% 08/20/20250.2%
GLS Auto Receivables Issuer Trust 2021-21.080% 06/15/20260.2%
Aviation Capital Group LLC4.375% 01/30/20240.2%
ANZ New Zealand Int'l Ltd/London5.920% 02/18/20250.2%
Connecticut Avenue Securities Trust 2022-R026.515% 01/25/20420.2%
TARGA RES CORP DISC COML0.000% 10/02/20230.2%
GA Global Funding Trust1.250% 12/08/20230.2%
HSBC Holdings PLC1.645% 04/18/20260.2%
Bank of America Corp0.981% 09/25/20250.2%
First Investors Auto Owner Trust 2022-26.260% 07/15/20270.2%
Canadian Imperial Bank of Commerce5.144% 04/28/20250.2%
National Fuel Gas Co0.000% 10/18/20230.2%
Pagaya AI Debt Trust 2022-12.030% 10/15/20290.2%
Regatta VIII Funding Ltd6.820% 10/17/20300.2%
Aqua Finance Trust 2021-A1.540% 07/17/20460.2%
First-Citizens Bank & Trust Co2.969% 09/27/20250.2%
CarMax Auto Owner Trust 2023-15.230% 01/15/20260.2%
Benefit Street Partners CLO V-B Ltd6.678% 04/20/20310.2%
GS Mortgage Securities Corp Trust 2018-HULA6.555% 07/15/20250.2%
Ally Auto Receivables Trust 2022-35.290% 06/16/20250.2%
Jersey Central Power & Light Co4.700% 04/01/20240.2%
Bayer US Finance II LLC6.681% 12/15/20230.2%
Great Wolf Trust 2019-WOLF6.481% 12/15/20360.2%
Navient Private Education Refi Loan Trust 2020-E1.690% 05/15/20690.2%
Affirm Asset Securitization Trust 2023-B6.820% 09/15/20280.2%
Santander Retail Auto Lease Trust 2021-C1.110% 03/20/20260.2%
Monongahela Power Co4.100% 04/15/20240.2%
Canadian Imperial Bank of Commerce5.709% 10/18/20240.2%
HGI CRE CLO 2021-FL1 Ltd6.495% 06/16/20360.2%
BPCE SA4.625% 07/11/20240.2%
Public Storage Operating Co5.917% 07/25/20250.1%
Fannie Mae Connecticut Avenue Securities6.215% 11/25/20410.1%
GreatAmerica Leasing Receivables Funding LLC Series 2021-21.040% 09/15/20270.1%
Pacific Gas and Electric Co3.250% 02/16/20240.1%
Flagship Credit Auto Trust 2022-23.280% 08/15/20250.1%
Santander UK Group Holdings PLC1.089% 03/15/20250.1%
Capital One Prime Auto Receivables Trust 2023-15.200% 05/15/20260.1%
Freddie Mac STACR REMIC Trust 2021-HQA36.165% 09/25/20410.1%
Avolon Holdings Funding Ltd3.950% 07/01/20240.1%
Flatiron Clo 17 Ltd6.606% 05/15/20300.1%
Santander Drive Auto Receivables Trust 2023-46.180% 02/16/20270.1%
FS RIALTO6.665% 05/16/20380.1%
Hertz Vehicle Financing III LLC1.990% 06/25/20260.1%
Barclays PLC5.304% 08/09/20260.1%
Hyatt Hotels Corp1.800% 10/01/20240.1%
Dell Equipment Finance Trust 2021-20.810% 12/22/20260.1%
GLS Auto Receivables Issuer Trust 2021-30.780% 11/17/20250.1%
Lloyds Banking Group PLC3.870% 07/09/20250.1%
Bank of Montreal5.662% 12/08/20230.1%
Freddie Mac STACR REMIC Trust 2021-HQA46.265% 12/25/20410.1%
WALGREENS BOOTS0.000% 10/02/20230.1%
Aircastle Ltd4.125% 05/01/20240.1%
Flagship Credit Auto Trust 2021-20.930% 06/15/20270.1%
Morgan Stanley0.864% 10/21/20250.1%
Carvana Auto Receivables Trust 2022-P34.420% 12/10/20250.1%
Bank of America Corp2.456% 10/22/20250.1%
Exeter Automobile Receivables Trust 2022-44.330% 02/17/20260.1%
L3Harris Technologies Inc0.000% 08/29/20240.1%
Ovintiv Inc5.650% 05/15/20250.1%
American Electric Power Co Inc5.699% 08/15/20250.1%
Carvana Auto Receivables Trust 2021-N11.090% 01/10/20280.1%
Flagship Credit Auto Trust 2023-15.380% 12/15/20260.1%
BX Trust 2021-ARIA6.346% 10/15/20360.1%
Hilton Orlando Trust 2018-ORL6.399% 12/15/20340.1%
Hyundai Capital America3.400% 06/20/20240.1%
NextEra Energy Capital Holdings Inc5.749% 09/01/20250.1%
Citigroup Inc4.140% 05/24/20250.1%
Flagship Credit Auto Trust 2022-34.060% 10/15/20250.1%
National Fuel Gas Co0.000% 10/02/20230.1%
Credit Suisse AG/New York NY2.950% 04/09/20250.1%
Affirm Asset Securitization Trust 2022-X11.750% 02/15/20270.1%
Avis Budget Rental Car Funding AESOP LLC2.360% 03/20/20260.1%
NextEra Energy Capital Holdings Inc6.051% 03/01/20250.1%
GA Global Funding Trust5.310% 09/13/20240.1%
CPS Auto Receivables Trust 2022-C4.180% 04/15/20300.1%
Ford Credit Auto Lease Trust 2023-A5.190% 06/15/20250.1%
Hyundai Auto Lease Securitization Trust 2023-A5.200% 04/15/20250.1%
Truist Financial Corp3.750% 12/06/20230.1%
Dell Equipment Finance Trust 2021-20.940% 12/22/20260.1%
Atalaya Equipment Leasing Trust 21-11.230% 05/15/20260.1%
Dell Equipment Finance Trust 2021-21.210% 06/22/20270.1%
GM Financial Automobile Leasing Trust 2023-15.270% 06/20/20250.1%
Mercedes-Benz Auto Receivables Trust 2023-15.090% 01/15/20260.1%
Santander Drive Auto Receivables Trust 2021-20.900% 06/15/20260.1%
NextEra Energy Capital Holdings Inc4.200% 06/20/20240.1%
Santander Retail Auto Lease Trust 2021-B0.840% 06/20/20250.1%
Toronto-Dominion Bank/The5.662% 09/10/20240.1%
GLS Auto Receivables Issuer Trust 2021-11.200% 01/15/20270.1%
Santander Retail Auto Lease Trust 2021-C0.500% 03/20/20250.0%
Amgen Inc5.250% 03/02/20250.0%
Tricolor Auto Securitization Trust 2023-16.480% 08/17/20260.0%
Octane Receivables Trust 2021-10.930% 03/22/20270.0%
Avant Loans Funding Trust 2021-REV11.210% 07/15/20300.0%
Connecticut Avenue Securities Trust 2021-R016.065% 10/25/20410.0%
Santander Consumer Auto Receivables Trust 2021-A0.330% 10/15/20250.0%
Tricolor Auto Securitization Trust 2022-13.300% 02/18/20250.0%
Foursight Capital Automobile Receivables Trust 2021-20.810% 05/15/20260.0%
Exeter Automobile Receivables Trust 2022-65.730% 11/17/20250.0%
LMREC 2021-CRE4 LLC6.488% 04/22/20370.0%
Marlette Funding Trust 2021-21.060% 09/15/20310.0%
Santander Retail Auto Lease Trust 2022-A0.970% 03/20/20250.0%
BBVA Bancomer SA/Texas4.375% 04/10/20240.0%
Arivo Acceptance Auto Loan Receivables Trust 2021-11.190% 01/15/20270.0%
PenFed Auto Receivables Owner Trust 2022-A3.830% 12/16/20240.0%
Freddie Mac STACR REMIC Trust 2021-DNA66.115% 10/25/20410.0%
Freddie Mac STACR REMIC Trust 2021-HQA26.015% 12/25/20330.0%
BDS 2020-FL5 LTD6.595% 02/16/20370.0%
US 2YR NOTE (CBT) Dec230.000% 01/04/20240.0%

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For
YTD Dividends Paidas of 11/29/2023
$0.36120
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 10/31/2023 $0.04065 $9.89
Daily Daily 09/30/2023 $0.03997 $9.89
Daily Daily 08/31/2023 $0.04049 $9.90
Daily Daily 07/31/2023 $0.03891 $9.89
Daily Daily 06/30/2023 $0.03672 $9.87
Daily Daily 05/31/2023 $0.03637 $9.87
Daily Daily 04/30/2023 $0.03449 $9.88
Daily Daily 03/31/2023 $0.03319 $9.87
Daily Daily 02/28/2023 $0.03014 $9.87
Daily Daily 01/31/2023 $0.03028 $9.87

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 11/30/2023
Daily Daily 12/31/2023

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

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 10/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.28% 0.28%

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 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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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.

 

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.

 

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