Ultra Short Bond Fund

LUBWX

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Daily price w/o sales charge as of 01/27/2021

$10.04

$0.00

YTD Returns w/o sales charge as of 01/27/2021

0.04%

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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 01/27/2021

w/o sales charge

0.47%

30-Day Standardized Yield ² as of 12/31/2020

0.31%

Fund Basicsas of 12/31/2020

Total Net Assets: $21.45 B
Inception Date: 10/17/2016
Dividend Frequency: Monthly
Fund Expense Ratio: 0.25%
Number of Holdings: 486

Fund Expense Ratio :

0.25%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 10/17/2016

w/o sales charge	1.31%	1.31%	2.14%	-	-	1.97%
Lipper Category Avg. Ultra-Short Obligations Funds	1.43%	1.43%	2.00%	-	-	-
ICE BofA U.S. Treasury Bill Index	0.74%	0.74%	1.65%	-	-	1.39%

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	1.31%	1.31%	2.14%	-	-	1.97%
Lipper Category Avg. Ultra-Short Obligations Funds	1.43%	1.43%	2.00%	-	-	-
ICE BofA U.S. Treasury Bill Index	0.74%	0.74%	1.65%	-	-	1.39%

Fund Expense Ratio :

0.25%

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.

Credit Quality Distribution as of 12/31/2020 View Portfolio

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

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, CFA

Managing Director & Portfolio Manager

17 Years of Industry Experience

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

22 Years of Industry Experience

Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

Adam C. Castle, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

Supported By 63 Investment Professionals with 17 Years Avg. Industry Experience

Your Representative

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

Performance

NAV HISTORICAL PRICES

Date	Net Asset Value

Fund Expense Ratio :

0.25%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 10/17/2016

w/o sales charge	1.31%	1.31%	2.14%	-	-	1.97%
Lipper Category Avg. Ultra-Short Obligations Funds	1.43%	1.43%	2.00%	-	-	-
ICE BofA U.S. Treasury Bill Index	0.74%	0.74%	1.65%	-	-	1.39%

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	1.31%	1.31%	2.14%	-	-	1.97%
Lipper Category Avg. Ultra-Short Obligations Funds	1.43%	1.43%	2.00%	-	-	-
ICE BofA U.S. Treasury Bill Index	0.74%	0.74%	1.65%	-	-	1.39%

Fund Expense Ratio :

0.25%

Year	Fund Returns	ICE BofA U.S. Treasury Bill Index

2020	1.31%	0.74%
2019	3.02%	2.35%
2018	2.11%	1.88%
2017	1.66%	0.82%
2016	0.20%	0.37%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2021	-	-	-	-	0.04%
2020	-1.19%	2.09%	0.30%	0.14%	1.31%
2019	0.89%	0.89%	0.64%	0.57%	3.02%
2018	0.37%	0.68%	0.61%	0.44%	2.11%
2017	0.41%	0.45%	0.38%	0.41%	1.66%
2016	-	-	-	-	0.20%

Portfolio

Type	Assets
Corp Floating
ABS
Commercial Paper
Corp Fixed Rate
U.S. Government Related
Other
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

CREDIT QUALITY DISTRIBUTION as of 12/31/2020

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 9/30/2020

The primary shift in portfolio positioning over the period was a modest shift from corporate floaters to corporate fixed rate paper. We believe there is less incentive to own rate protection via floaters as rates are expected to remain lower for longer. The portfolio’s commercial paper allocation has also decreased as a result of weaker supply.
Overall, the portfolio remains high-quality, short-term and very liquid. We remain focused on maintaining a high degree of liquidity in the portfolio, which should allow us to continue to take advantage of attractive opportunities in the front-end markets.
We feel valuations are attractive compared to underlying economic fundamentals. The Fed continues to provide an environment of significantly low volatility, negative real yields, and support to maintain market liquidity.

Portfolio Details as of 12/31/2020

Total Net Assets: $21.45 B
Number of Issues: 486
Average Coupon: 1.11%
Average Life: 0.89 Years
Average Effective Duration: 0.41 Years

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

Holding	Coupon	Maturity	Assets

United States Treasury Bill	0.000%	02/04/2021	4.7%
U.S. Treasury Note/Bond	0.125%	10/31/2022	1.2%
Wells Fargo & Co.	1.183%	02/11/2022	1.2%
Morgan Stanley	1.452%	01/20/2022	1.1%
Morgan Stanley	0.780%	01/20/2023	1.1%
Vodafone Group plc	0.000%	01/04/2021	1.0%
Goldman Sachs Group, Inc.	1.355%	04/26/2022	1.0%
Goldman Sachs Group, Inc.	1.041%	10/31/2022	1.0%
U.S. Treasury Note/Bond	0.125%	09/30/2022	0.9%
Toronto-Dominion Bank	0.000%	01/11/2021	0.9%

% of Total Assets			14.1%

Holding	Coupon	Maturity	Assets

United States Treasury Bill	0.000%	02/04/2021	4.6%
U.S. Treasury Note/Bond	0.125%	10/31/2022	1.2%
Wells Fargo & Co.	1.183%	02/11/2022	1.2%
Morgan Stanley	1.452%	01/20/2022	1.1%
Morgan Stanley	0.780%	01/20/2023	1.1%
Goldman Sachs Group, Inc.	1.355%	04/26/2022	1.0%
Goldman Sachs Group, Inc.	1.041%	10/31/2022	1.0%
U.S. Treasury Note/Bond	0.125%	09/30/2022	0.9%
Morgan Stanley	1.188%	07/22/2022	0.9%
Alexandria Real Estate Equities, Inc.	0.000%	12/02/2020	0.8%
Toronto-Dominion Bank	0.000%	12/07/2020	0.8%
Bank of America Corp.	3.499%	05/17/2022	0.8%
Toronto-Dominion Bank	0.000%	12/03/2020	0.8%
Bank of America Corp.	2.738%	01/23/2022	0.8%
Toyota Auto Receivables 2020-D Owner Trust	0.230%	05/15/2023	0.7%
Volkswagen Group of America Finance LLC	0.000%	11/08/2021	0.7%
U.S. Concrete, Inc.	0.270%	02/21/2023	0.7%
Canadian Imperial Bank of Commerce	0.884%	03/17/2023	0.7%
UnitedHealth Group, Inc.	0.000%	12/02/2020	0.6%
GM Financial Consumer Automobile Receivables Trust	0.260%	11/16/2023	0.6%
PNC Bank NA	0.708%	07/22/2022	0.6%
Goldman Sachs Group, Inc.	1.006%	02/23/2023	0.6%
Hyundai Capital America	0.000%	12/07/2020	0.6%
Energy East Corp.	0.000%	12/08/2020	0.6%
Brookfield US Holdings Inc	0.000%	12/15/2020	0.6%
Wells Fargo Bank, N.A.	0.902%	09/09/2022	0.6%
Great Plains Energy, Inc.	0.340%	12/15/2022	0.6%
Hyundai Capital America	0.000%	12/08/2020	0.6%
Realty Income Corp.	0.000%	12/11/2020	0.6%
Dominion Resources, Inc.	0.750%	12/01/2020	0.6%
Citigroup, Inc.	2.700%	03/30/2021	0.5%
Glencore Funding LLC	0.000%	01/11/2021	0.5%
HCP, Inc.	0.000%	12/03/2020	0.5%
Crown Castle International Corp.	0.000%	12/09/2020	0.5%
Westlake Automobile Receivables Trust 2020-2	0.930%	02/15/2024	0.5%
IntercontinentalExchange Group, Inc.	0.903%	06/15/2023	0.5%
Bank of Montreal	0.766%	03/10/2023	0.5%
World Financial Network Credit Card Master Trust	2.210%	07/15/2026	0.5%
VW Credit, Inc.	0.000%	12/03/2020	0.5%
U.S. Concrete, Inc.	0.370%	10/18/2024	0.5%
Australia & New Zealand Banking Group Ltd.	0.000%	12/01/2020	0.5%
Ford Credit Auto Owner Trust 2020-C	0.250%	10/15/2023	0.5%
Synchrony Card Funding LLC	2.950%	03/15/2025	0.5%
Daimler Finance North America LLC	0.919%	11/05/2021	0.5%
Citibank, Inc.	0.853%	05/20/2022	0.5%
Hitachi America Capital Ltd	0.000%	12/02/2020	0.5%
Royal Bank of Canada	0.578%	01/17/2023	0.5%
MET Tower Global Funding	0.550%	07/13/2022	0.5%
AbbVie, Inc.	0.691%	11/19/2021	0.4%
Danske Bank A/S	5.000%	01/12/2022	0.4%
Toyota Motor Credit Corp.	1.150%	05/26/2022	0.4%
Walt Disney Co/The	0.000%	04/30/2021	0.4%
US Bank NA	0.642%	12/09/2022	0.4%
Toronto-Dominion Bank	0.569%	03/17/2021	0.4%
Danske Bank A/S	0.000%	05/04/2021	0.4%
HSBC USA, Inc.	0.000%	02/05/2021	0.4%
Macquarie Bank Ltd.	0.706%	11/24/2021	0.4%
Glencore Funding LLC	0.000%	01/12/2021	0.4%
PNC Bank NA	0.581%	02/24/2023	0.4%
Honeywell International, Inc.	0.483%	08/19/2022	0.4%
Walgreen Co.	0.000%	04/27/2021	0.4%
Volkswagen Auto Lease Trust 2020-A	0.580%	04/20/2023	0.4%
Mitsubishi UFJ Financial Grp, Inc.	2.623%	07/18/2022	0.4%
Glencore Funding LLC	0.000%	01/07/2021	0.4%
AbbVie, Inc.	3.450%	03/15/2022	0.4%
Wells Fargo Bank, N.A.	0.871%	05/27/2022	0.4%
Phi, Inc.	0.450%	08/21/2023	0.4%
Zimmer Biomet Holdings, Inc.	0.977%	03/19/2021	0.4%
Royal Bank of Canada	0.532%	10/26/2023	0.4%
UBS AG London	1.750%	04/21/2022	0.4%
Goldman Sachs Group, Inc.	2.876%	10/31/2022	0.4%
Phi, Inc.	0.350%	11/21/2022	0.4%
Ford Credit Auto Owner Trust 2020-B	0.500%	02/15/2023	0.4%
E.I. du Pont de Nemours & Co.	0.000%	12/01/2020	0.4%
Harris Corp.	1.000%	03/10/2023	0.4%
BAT Capital Corp	1.160%	08/15/2022	0.4%
American Express Co.	2.500%	08/01/2022	0.4%
HSBC USA, Inc.	0.000%	02/22/2021	0.4%
Toyota Motor Credit Corp.	0.415%	02/14/2022	0.4%
Synchrony Card Issuance Trust	3.380%	09/15/2024	0.4%
BMW US Capital LLC	0.676%	04/12/2021	0.4%
Cigna Corp	0.949%	09/17/2021	0.4%
Citibank, Inc.	2.844%	05/20/2022	0.4%
Walgreen Co.	0.000%	05/25/2021	0.3%
General Motors Financial Co., Inc.	0.000%	01/19/2021	0.3%
E.I. du Pont de Nemours & Co.	0.000%	12/03/2020	0.3%
American Express Co.	2.750%	05/20/2022	0.3%
LYB International Finance III LLC	1.230%	10/01/2023	0.3%
National Australia Bank Ltd.	0.723%	12/13/2022	0.3%
Walgreen Co.	0.000%	02/26/2021	0.3%
American Express Co.	0.849%	11/05/2021	0.3%
Metropolitan Life Global Funding I	0.653%	01/13/2023	0.3%
Wells Fargo Bank, N.A.	2.897%	05/27/2022	0.3%
Citibank, Inc.	0.798%	02/19/2022	0.3%
American Honda Finance Corp.	0.846%	06/27/2022	0.3%
Danske Bank A/S	0.000%	08/06/2021	0.3%
Bank of Nova Scotia	0.632%	09/15/2023	0.3%
Macquarie Bank Ltd.	0.699%	08/06/2021	0.3%
PNC Bank NA	0.672%	12/09/2022	0.3%
New York Life Global Funding	0.553%	01/10/2023	0.3%
DTE Energy Co.	0.550%	11/01/2022	0.3%
Toronto-Dominion Bank	0.568%	07/30/2021	0.3%
Wells Fargo & Co.	2.625%	07/22/2022	0.3%
Walt Disney Co/The	0.000%	05/17/2021	0.3%
Daimler Finance North America LLC	1.180%	02/15/2022	0.3%
HSBC USA, Inc.	0.000%	02/03/2021	0.3%
General Motors Financial Co., Inc.	0.000%	02/01/2021	0.3%
New York Life Global Funding	0.442%	10/21/2023	0.3%
KeyBank NA	0.911%	02/01/2022	0.3%
Enel Finance International N.V.	2.875%	05/25/2022	0.3%
Cabot Corp.	0.000%	12/01/2020	0.3%
Toronto-Dominion Bank	0.776%	12/01/2022	0.3%
United Technologies Corp.	2.800%	03/15/2022	0.3%
Danske Bank A/S	3.001%	09/20/2022	0.3%
Principal Life Global Funding II	0.704%	10/06/2021	0.3%
Florida Power & Light Co.	0.641%	07/28/2023	0.3%
ConAgra Brands, Inc.	0.000%	04/08/2021	0.3%
Skandinaviska Enskilda Banken AB	0.963%	12/12/2022	0.3%
Branch Banking & Trust Co.	0.870%	05/17/2022	0.3%
AbbVie, Inc.	0.897%	11/21/2022	0.3%
World Omni Automobile Lease Securitization Trust 2	0.320%	09/15/2023	0.3%
ING Groep NV	1.456%	03/29/2022	0.3%
Host Hotels & Resorts L.P.	0.360%	01/17/2023	0.3%
Morgan Stanley	5.500%	07/28/2021	0.3%
BMW US Capital LLC	0.754%	08/13/2021	0.3%
Trillium Credit Card Trust II	3.038%	01/26/2024	0.3%
Catholic Health Initiatives	0.000%	12/02/2020	0.3%
Mercedes-Benz Auto Receivables Trust 2020-1	0.460%	03/15/2023	0.3%
AbbVie, Inc.	0.597%	05/21/2021	0.3%
Goldman Sachs Group, Inc.	0.619%	11/17/2023	0.3%
Drive Auto Receivables Trust 2019-4	2.230%	01/16/2024	0.2%
Hitachi International Treasury Ltd	0.000%	12/01/2020	0.2%
IntercontinentalExchange Group, Inc.	0.000%	12/14/2020	0.2%
Manufacturers & Traders Trust Co	0.886%	12/01/2021	0.2%
Wells Fargo & Co.	1.270%	07/26/2021	0.2%
Daimler Finance North America LLC	0.687%	02/12/2021	0.2%
Dominion Gas Holdings LLC	0.850%	06/15/2021	0.2%
Citigroup, Inc.	1.688%	03/30/2021	0.2%
CenterPoint Energy, Inc.	0.000%	12/02/2020	0.2%
Toyota Auto Receivables 2020-C Owner Trust	0.360%	02/15/2023	0.2%
Reckitt Benckiser Treasury Services PLC	0.857%	06/24/2022	0.2%
CenterPoint Energy, Inc.	0.000%	12/01/2020	0.2%
E.I. du Pont de Nemours & Co.	0.000%	12/14/2020	0.2%
Tesla Auto Lease Trust 2019-A	2.160%	10/20/2022	0.2%
Caterpillar Financial Services Corp.	0.457%	11/12/2021	0.2%
Ford Credit Auto Lease Trust 2019-A	2.900%	05/15/2022	0.2%
Golden Credit Card Trust	0.591%	12/15/2022	0.2%
IntercontinentalExchange Group, Inc.	0.000%	12/08/2020	0.2%
Goldman Sachs Group, Inc.	2.020%	02/25/2021	0.2%
Dell Equipment Finance Trust 2020-2	0.570%	10/23/2023	0.2%
Standard Chartered plc	1.510%	09/10/2022	0.2%
BMW US Capital LLC	0.798%	04/14/2022	0.2%
Swedbank AB	2.800%	03/14/2022	0.2%
Sumitomo Mitsui Financial Group, Inc.	2.784%	07/12/2022	0.2%
Boeing Co.	0.000%	12/02/2020	0.2%
UBS Group AG	2.650%	02/01/2022	0.2%
NextEra Energy Capital Holdings, Inc.	0.806%	08/28/2021	0.2%
Union Bank N.A.	0.850%	03/07/2022	0.2%
Southern Power Co	0.856%	12/20/2020	0.2%
Bank of Montreal	0.658%	01/22/2021	0.2%
Marriott International, Inc.	0.846%	12/01/2020	0.2%
Huntington National Bank	0.756%	02/05/2021	0.2%
World Financial Network Credit Card Master Trust	3.140%	12/15/2025	0.2%
Marsh & McLennan Cos., Inc.	1.506%	12/29/2021	0.2%
Carmax Auto Owner Trust 2019-2	2.680%	03/15/2024	0.2%
Volkswagen Auto Loan Enhanced Trust 2020-1	0.930%	12/20/2022	0.2%
Westlake Automobile Receivables Trust 2019-3	2.150%	02/15/2023	0.2%
Honeywell International, Inc.	0.498%	08/19/2022	0.2%
Caterpillar Financial Services Corp.	0.670%	05/17/2021	0.2%
Royal Bank of Canada	0.627%	07/08/2021	0.2%
BMW Finance NV	1.047%	08/12/2022	0.2%
Bank of Montreal	0.710%	09/10/2021	0.2%
DNB Bank ASA	0.861%	12/02/2022	0.2%
Caterpillar Financial Services Corp.	0.618%	03/08/2021	0.2%
Toyota Motor Credit Corp.	0.379%	08/13/2021	0.2%
Citigroup, Inc.	1.205%	04/25/2022	0.2%
American Express Co.	0.873%	05/20/2022	0.2%
IntercontinentalExchange Group, Inc.	0.000%	09/23/2021	0.2%
GM Financial Consumer Automobile Receivables Trust	2.650%	02/16/2024	0.2%
Chesapeake Funding II LLC	0.621%	01/15/2031	0.2%
Drive Auto Receivables Trust 2020-2	0.850%	07/17/2023	0.2%
Cabot Corp.	0.000%	12/03/2020	0.2%
Volkswagen Auto Lease Trust 2020-A	0.750%	01/22/2024	0.2%
Ford Credit Auto Lease Trust 2020-B	0.500%	12/15/2022	0.2%
Wells Fargo & Co.	3.500%	03/08/2022	0.2%
McDonald's Corp.	0.677%	10/28/2021	0.2%
Vulcan Materials Co.	0.896%	03/01/2021	0.2%
Crown Castle International Corp.	0.000%	12/16/2020	0.2%
Westpac Banking Corp.	0.656%	01/13/2023	0.2%
Brookfield BRP Holdings Canada Inc	0.000%	12/03/2020	0.2%
Wells Fargo & Co.	2.100%	07/26/2021	0.2%
Drive Auto Receivables Trust 2019-4	2.160%	05/15/2023	0.2%
Gilead Sciences, Inc.	0.740%	09/29/2023	0.2%
BAT International Finance plc	0.000%	12/22/2020	0.2%
General Motors Financial Co., Inc.	3.200%	07/06/2021	0.2%
Manufacturers & Traders Trust Co	1.358%	12/28/2020	0.2%
Nordea Bank Abp	4.875%	05/13/2021	0.2%
Capital One Prime Auto Receivables Trust 2020-1	1.640%	06/15/2023	0.2%
Capital One Prime Auto Receivables Trust 2019-2	2.060%	09/15/2022	0.2%
Dell Equipment Finance Trust 2020-2	0.470%	10/24/2022	0.2%
UBS Group AG	1.781%	02/01/2022	0.2%
Daimler Finance North America LLC	3.000%	02/22/2021	0.2%
Mondelez International, Inc.	0.625%	07/01/2022	0.2%
Nissan Auto Receivables 2019-A Owner Trust	2.900%	10/16/2023	0.2%
Protective Life Global Funding	0.826%	06/28/2021	0.2%
E.I. du Pont de Nemours & Co.	0.000%	12/02/2020	0.2%
Duke Energy Progress LLC	0.433%	02/18/2022	0.2%
New York Life Global Funding	0.658%	07/12/2022	0.2%
General Motors Financial Co., Inc.	0.000%	01/21/2021	0.2%
Credit Suisse Group AG	2.800%	04/08/2022	0.2%
Bank of America Corp.	0.947%	06/25/2022	0.2%
Otis Worldwide Corp	0.684%	04/05/2023	0.2%
American Credit Acceptance Receivables Trust 2020-	0.620%	10/13/2023	0.2%
Compass Bank	1.045%	06/11/2021	0.2%
Volkswagen Group of America Finance LLC	1.157%	09/24/2021	0.2%
FMC Corp.	0.000%	12/28/2020	0.2%
Master Credit Card Trust	0.626%	07/21/2022	0.2%
IntercontinentalExchange Group, Inc.	0.000%	12/07/2020	0.2%
AIG Global Funding	0.867%	01/22/2021	0.2%
First National Master Note Trust 2018-1	0.601%	10/15/2024	0.2%
Citigroup, Inc.	1.441%	08/02/2021	0.2%
Ford Motor Credit Co. LLC	1.146%	10/12/2021	0.2%
Ford Credit Auto Lease Trust 2020-A	1.800%	07/15/2022	0.2%
Ford Credit Floorplan Master Owner Trust A	2.950%	05/15/2023	0.2%
GMF Floorplan Owner Revolving Trust	3.130%	03/15/2023	0.2%
Citizens Bank N.A.	0.985%	02/14/2022	0.2%
Barclays Bank plc	10.179%	06/12/2021	0.2%
Nissan Motor Acceptance Corp.	0.833%	03/15/2021	0.1%
Dominion Resources, Inc.	0.776%	09/15/2023	0.1%
Standard Chartered plc	1.333%	10/14/2023	0.1%
Bank of America Corp.	3.300%	01/11/2023	0.1%
McCormick & Co., Inc.	0.000%	12/02/2020	0.1%
Australia & New Zealand Banking Group Ltd.	0.737%	11/21/2022	0.1%
BA Credit Card Trust	3.100%	12/15/2023	0.1%
Cigna Corp	1.165%	07/15/2023	0.1%
Citigroup, Inc.	0.951%	11/04/2022	0.1%
World Financial Network Credit Card Master Trust	3.070%	12/16/2024	0.1%
World Financial Network Credit Card Master Trust	3.460%	07/15/2025	0.1%
General Motors Financial Co., Inc.	4.200%	11/06/2021	0.1%
AstraZeneca plc	0.000%	12/11/2020	0.1%
Host Hotels & Resorts L.P.	0.510%	09/15/2023	0.1%
Prestige Auto Receivables Trust 2019-1	2.450%	05/15/2023	0.1%
Intesa Sanpaolo SpA	6.500%	02/24/2021	0.1%
JPMorgan Chase & Co.	1.275%	01/15/2023	0.1%
Golden Credit Card Trust	2.620%	01/15/2023	0.1%
ABN Amro Bank NV	0.821%	08/27/2021	0.1%
General Motors Financial Co., Inc.	0.000%	01/28/2021	0.1%
Becton, Dickinson & Co.	1.348%	06/06/2022	0.1%
GM Financial Automobile Leasing Trust 2020-2	0.710%	10/20/2022	0.1%
Goldman Sachs Group, Inc.	5.750%	01/24/2022	0.1%
Santander Drive Auto Receivables Trust 2018-3	3.510%	08/15/2023	0.1%
UBS AG	7.625%	08/17/2022	0.1%
Honda Auto Receivables 2020-2 Owner Trust	0.740%	11/15/2022	0.1%
Santander Drive Auto Receivables Trust 2018-2	3.350%	07/17/2023	0.1%
General Motors Financial Co., Inc.	0.000%	01/14/2021	0.1%
Volkswagen Group of America Finance LLC	0.750%	11/23/2022	0.1%
American Electric Power Co., Inc.	0.680%	11/01/2023	0.1%
Santander Consumer Auto Receivables Trust 2020-B	0.460%	08/15/2024	0.1%
Canadian Tire Corp Ltd	0.000%	12/02/2020	0.1%
DLL 2019-3 LLC	2.130%	01/20/2022	0.1%
Barclays Bank plc	1.700%	05/12/2022	0.1%
HSBC USA, Inc.	0.000%	03/03/2021	0.1%
Fifth Third Bank, OH	0.685%	07/26/2021	0.1%
Goldman Sachs Group, Inc.	1.605%	04/23/2021	0.1%
Bayer US Finance II LLC	0.927%	06/25/2021	0.1%
First Investors Auto Owner Trust 2019-2	2.210%	09/16/2024	0.1%
Hyundai Auto Receivables Trust 2020-B	0.380%	03/15/2023	0.1%
PFS Financing Corp.	1.160%	08/15/2024	0.1%
GLS Auto Receivables Issuer Trust 2020-3	0.690%	10/16/2023	0.1%
World Omni Automobile Lease Securitization Trust 2	2.940%	05/16/2022	0.1%
Santander Drive Auto Receivables Trust 2020-2	0.620%	05/15/2023	0.1%
TD Ameritrade Holding Corp.	0.650%	11/01/2021	0.1%
Toyota Motor Credit Corp.	0.817%	01/08/2021	0.1%
Caterpillar Financial Services Corp.	0.497%	01/06/2022	0.1%
John Deere Capital Corp.	0.803%	06/13/2022	0.1%
American Honda Finance Corp.	0.665%	06/11/2021	0.1%
Branch Banking & Trust Co.	0.816%	03/09/2023	0.1%
BP Capital Markets plc	2.500%	11/06/2022	0.1%
Sumitomo Mitsui Financial Group, Inc.	2.846%	01/11/2022	0.1%
Toronto-Dominion Bank	0.534%	09/28/2023	0.1%
Ford Credit Auto Owner Trust 2016-REV1	2.310%	08/15/2027	0.1%
Cabot Corp.	0.000%	12/31/2020	0.1%
Cigna Corp	0.000%	12/08/2020	0.1%
Honeywell International, Inc.	0.613%	08/08/2022	0.1%
GATX Corp.	0.969%	11/05/2021	0.1%
Citigroup, Inc.	1.388%	12/08/2021	0.1%
Ford Credit Auto Owner Trust 2017-REV1	2.620%	08/15/2028	0.1%
General Motors Financial Co., Inc.	0.000%	02/02/2021	0.1%
Bank of America Corp.	1.451%	10/21/2022	0.1%
CenterPoint Energy Resources Corp	0.000%	12/01/2020	0.1%
GM Financial Automobile Leasing Trust 2019-3	2.090%	10/20/2021	0.1%
Walt Disney Co/The	0.000%	05/21/2021	0.1%
SL Green Operating Partnership L.P.	1.260%	08/16/2021	0.1%
Mercedes-Benz Master Owner Trust 2018-BA	0.481%	05/15/2023	0.1%
IntercontinentalExchange Group, Inc.	2.350%	09/15/2022	0.1%
Citigroup, Inc.	2.312%	11/04/2022	0.1%
Daimler Finance North America LLC	3.400%	02/22/2022	0.1%
Mitsubishi UFJ Financial Grp, Inc.	0.895%	07/26/2021	0.1%
AmeriCredit Automobile Receivables Trust 2020-2	0.600%	12/18/2023	0.1%
General Motors Financial Co., Inc.	0.000%	02/16/2021	0.1%
John Deere Capital Corp.	0.718%	06/07/2021	0.1%
Albemarle Corp.	1.330%	11/15/2022	0.1%
British Transco International Finance BV	0.000%	11/04/2021	0.1%
BMW Floorplan Master Owner Trust	3.150%	05/15/2023	0.1%
Albemarle Corp.	0.000%	01/08/2021	0.1%
American Honda Finance Corp.	0.000%	12/08/2020	0.1%
Dominion Resources, Inc.	2.715%	08/15/2021	0.1%
Brookfield BRP Holdings Canada Inc	0.000%	12/14/2020	0.1%
Dave & Buster's, Inc.	0.000%	12/09/2020	0.1%
Toyota Auto Receivables 2019-A Owner Trust	2.910%	07/17/2023	0.1%
Phillips 66	0.834%	02/26/2021	0.1%
World Omni Automobile Lease Securitization Trust 2	3.190%	12/15/2021	0.1%
Manufacturers & Traders Trust Co	0.515%	01/25/2021	0.1%
Tesla Auto Lease Trust 2020-A	0.550%	05/22/2023	0.1%
Canadian Tire Corp Ltd	0.000%	12/03/2020	0.1%
Canadian Tire Corp Ltd	0.000%	12/09/2020	0.1%
CPS Auto Receivables Trust 2020-C	0.630%	03/15/2024	0.1%
Capital One Financial Corp.	1.192%	03/09/2022	0.1%
Cigna Corp	3.900%	02/15/2022	0.1%
Daimler Finance North America LLC	1.136%	02/22/2022	0.1%
Dave & Buster's, Inc.	0.000%	12/10/2020	0.1%
NVR, Inc.	3.950%	09/15/2022	0.1%
Glencore Finance Canada Ltd.	4.250%	10/25/2022	0.1%
Ally Master Owner Trust	3.290%	05/15/2023	0.1%
Synchrony Credit Card Master Note Trust	3.360%	03/15/2024	0.1%
Amur Equipment Finance Receivables VII LLC	2.630%	06/20/2024	0.1%
Ford Credit Auto Owner Trust 2018-B	3.240%	04/15/2023	0.1%
Exeter Automobile Receivables Trust 2020-2	1.130%	08/15/2023	0.1%
Carmax Auto Owner Trust 2019-1	3.050%	03/15/2024	0.1%
First Investors Auto Owner Trust 2019-1	2.890%	03/15/2024	0.1%
Ford Motor Credit Co. LLC	1.114%	04/05/2021	0.1%
SCF Equipment Leasing 2019-2 LLC	2.220%	06/20/2024	0.1%
Volkswagen Auto Loan Enhanced Trust 2018-2	3.250%	04/20/2023	0.1%
NextGear Floorplan Master Owner Trust	0.741%	10/15/2023	0.1%
Discover Card Execution Note Trust	3.040%	07/15/2024	0.1%
Santander UK plc	0.866%	06/01/2021	0.1%
Westlake Automobile Receivables Trust 2019-2	3.060%	02/15/2023	0.1%
Jackson National Life Global Funding	1.036%	06/27/2022	0.1%
Viatris Inc	1.125%	06/22/2022	0.1%
HPEFS Equipment Trust 2020-1	1.730%	02/20/2030	0.1%
General Motors Financial Co., Inc.	0.000%	01/07/2021	0.1%
Foursight Capital Automobile Receivables Trust 202	1.970%	09/15/2023	0.1%
Discover Card Execution Note Trust	3.320%	03/15/2024	0.1%
E.I. du Pont de Nemours & Co.	0.000%	12/21/2020	0.1%
Waste Management, Inc.	0.000%	09/10/2021	0.1%
GM Financial Automobile Leasing Trust 2019-2	2.670%	03/21/2022	0.1%
Citibank, Inc.	3.165%	02/19/2022	0.1%
Dollarama Inc	0.000%	12/03/2020	0.1%
Time Warner Cable LLC	4.125%	02/15/2021	0.1%
Capital One Multi-Asset Execution Trust	0.651%	09/16/2024	0.1%
World Omni Select Auto Trust 2018-1	3.460%	03/15/2023	0.1%
AmeriCredit Automobile Receivables Trust 2019-3	2.170%	01/18/2023	0.1%
Mitsubishi UFJ Financial Grp, Inc.	3.218%	03/07/2022	0.1%
BMW Vehicle Lease Trust 2019-1	2.840%	11/22/2021	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.930%	06/20/2022	0.1%
Rogers Communications, Inc.	0.000%	08/26/2021	0.1%
Nissan Auto Lease Trust 2019-B	2.270%	10/15/2021	0.1%
Harley-Davidson Financial Services Inc	2.850%	01/15/2021	0.1%
ARI Fleet Lease Trust 2020-A	1.770%	08/15/2028	0.1%
Hyundai Auto Lease Securitization Trust 2019-B	2.080%	12/15/2021	0.1%
Morgan Stanley	0.915%	06/10/2022	0.1%
Enterprise Fleet Financing LLC	3.100%	10/20/2023	0.1%
Discover Card Execution Note Trust	3.110%	01/16/2024	0.1%
Enterprise Fleet Financing LLC	2.360%	05/20/2023	0.1%
American Credit Acceptance Receivables Trust 2020-	1.650%	12/13/2023	0.1%
General Motors Financial Co., Inc.	4.375%	09/25/2021	0.1%
CarMax Auto Owner Trust	3.130%	06/15/2023	0.1%
Toyota Auto Receivables 2018-D Owner Trust	3.180%	03/15/2023	0.1%
Walt Disney Co/The	0.000%	05/07/2021	0.1%
Volkswagen Group of America Finance LLC	2.900%	05/13/2022	0.1%
NXP BV / NXP Funding LLC	3.875%	09/01/2022	0.1%
Capital One Multi-Asset Execution Trust	2.840%	12/15/2024	0.1%
Lennar Corp.	5.375%	10/01/2022	0.1%
IHS Markit Ltd	5.000%	11/01/2022	0.1%
GM Financial Automobile Leasing Trust 2019-1	2.980%	12/20/2021	0.0%
GM Financial Consumer Automobile Receivables Trust	1.830%	01/17/2023	0.0%
Emera US Finance L.P.	2.700%	06/15/2021	0.0%
Ally Auto Receivables Trust 2019-4	1.930%	10/17/2022	0.0%
Daimler Finance North America LLC	0.706%	02/22/2021	0.0%
Daimler Finance North America LLC	0.799%	05/04/2021	0.0%
Drive Auto Receivables Trust 2018-5	3.680%	07/15/2023	0.0%
Citibank Credit Card Issuance Trust	2.880%	01/23/2023	0.0%
Aviation Capital Group Corp.	0.938%	07/30/2021	0.0%
Drive Auto Receivables Trust	4.160%	05/15/2024	0.0%
Wells Fargo & Co.	1.374%	01/24/2023	0.0%
Nutrition & Biosciences Inc	0.697%	09/15/2022	0.0%
Lennar Corp.	4.750%	11/15/2022	0.0%
World Omni Auto Receivables Trust 2019-B	2.590%	07/15/2024	0.0%
Flagship Credit Auto Trust 2020-2	1.490%	07/15/2024	0.0%
Aviation Capital Group Corp.	1.196%	06/01/2021	0.0%
Lloyds Banking Group plc	1.106%	06/21/2021	0.0%
Drive Auto Receivables Trust	3.660%	11/15/2024	0.0%
General Motors Financial Co., Inc.	1.818%	01/14/2022	0.0%
Chesapeake Funding II LLC	2.120%	11/15/2029	0.0%
American Express Credit Account Master Trust	3.070%	10/15/2024	0.0%
Roper Industries, Inc.	0.450%	08/15/2022	0.0%
BMW US Capital LLC	0.944%	04/06/2022	0.0%
General Motors Financial Co., Inc.	3.550%	04/09/2021	0.0%
National Bank of Canada	2.150%	10/07/2022	0.0%
AstraZeneca plc	0.930%	06/10/2022	0.0%
AstraZeneca plc	2.375%	06/12/2022	0.0%
Santander Drive Auto Receivables Trust 2016-3	2.800%	08/15/2022	0.0%
Walt Disney Co/The	0.000%	03/26/2021	0.0%
CarMax Auto Owner Trust	1.600%	06/15/2022	0.0%
Barclays Dryrock Issuance Trust	0.471%	07/15/2024	0.0%
Campbell Soup Co.	0.943%	03/15/2021	0.0%
Ford Credit Auto Owner Trust 2020-A	1.030%	10/15/2022	0.0%
Mercedes-Benz Auto Lease Trust 2019-B	2.000%	10/17/2022	0.0%
Santander Retail Auto Lease Trust 2019-B	2.290%	04/20/2022	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.710%	09/08/2022	0.0%
PNC Bank NA	2.232%	07/22/2022	0.0%
Standard Chartered plc	5.700%	01/25/2022	0.0%
Citigroup, Inc.	2.700%	10/27/2022	0.0%
Citigroup, Inc.	0.935%	10/27/2022	0.0%
Conn's Receivables Funding 2019-A LLC	3.400%	10/16/2023	0.0%
Daimler Finance North America LLC	2.850%	01/06/2022	0.0%
American Express Co.	0.901%	02/27/2023	0.0%
Amur Equipment Finance Receivables VI LLC	3.890%	07/20/2022	0.0%
CarMax Auto Owner Trust 2020-2	1.700%	11/15/2024	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.480%	10/20/2023	0.0%
Capital One NA/Mclean VA	2.150%	09/06/2022	0.0%
Mercedes-Benz Auto Lease Trust 2019-A	3.100%	11/15/2021	0.0%
Westlake Automobile Receivables Trust 2018-3	3.320%	10/16/2023	0.0%
BMW Vehicle Lease Trust 2018-1	3.260%	07/20/2021	0.0%
Discover Card Execution Note Trust	0.411%	12/15/2023	0.0%
Drive Auto Receivables Trust 2019-3	2.900%	08/15/2025	0.0%
PPL WEM Ltd./Western Power Distribution Ltd.	5.375%	05/01/2021	0.0%
Fresenius Medical Care US Finance, Inc.	5.750%	02/15/2021	0.0%
Credit Suisse Group AG	0.531%	02/04/2022	0.0%
Barclays plc	1.898%	01/10/2023	0.0%
Anglo American Capital plc	4.125%	04/15/2021	0.0%
GM Financial Consumer Automobile Receivables Trust	2.130%	03/16/2023	0.0%
CNH Capital LLC	4.875%	04/01/2021	0.0%
GM Financial Consumer Automobile Receivables Trust	1.970%	05/16/2022	0.0%
Tesla Auto Lease Trust 2018-B	3.710%	08/20/2021	0.0%
National Australia Bank Ltd.	0.886%	09/20/2021	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.690%	12/20/2023	0.0%
Time Warner Cable LLC	4.000%	09/01/2021	0.0%
KeyBank NA	1.066%	11/22/2021	0.0%
American Express Credit Account Master Trust	0.591%	09/16/2024	0.0%
Cigna Corp	0.000%	03/23/2021	0.0%
Flagship Credit Auto Trust 2018-3	3.070%	02/15/2023	0.0%
Westlake Automobile Receivables Trust 2018-2	3.500%	01/16/2024	0.0%
Prestige Auto Receivables Trust 2019-1	2.440%	07/15/2022	0.0%
Drive Auto Receivables Trust	4.180%	03/15/2024	0.0%
Exelon Corp.	3.497%	06/01/2022	0.0%
CPS Auto Receivables Trust 2020-C	1.010%	01/15/2025	0.0%
ACC Trust 2019-1	3.750%	05/20/2022	0.0%
DLL 2018-1 LLC	3.100%	04/18/2022	0.0%
American Credit Acceptance Receivables Trust 2019-	3.320%	04/12/2023	0.0%
Conn's Receivables Funding 2019-B LLC	2.660%	06/17/2024	0.0%
PNC Bank NA	0.508%	01/22/2021	0.0%
CVS Caremark Corp.	0.962%	03/09/2021	0.0%
Exeter Automobile Receivables Trust 2019-3	2.590%	09/15/2022	0.0%
Drive Auto Receivables Trust 2017-3	3.530%	12/15/2023	0.0%
Westlake Automobile Receivables Trust 2019-1	3.510%	05/16/2022	0.0%
Abe Investment Holdings, Inc.	2.896%	11/04/2022	0.0%
Volkswagen Group of America Finance LLC	1.197%	11/12/2021	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.270%	06/20/2023	0.0%
Citizens Bank N.A.	1.044%	05/26/2022	0.0%
Chesapeake Funding II LLC	0.481%	08/15/2029	0.0%
Drive Auto Receivables Trust	3.720%	09/16/2024	0.0%
General Mills, Inc.	0.811%	04/16/2021	0.0%
SCF Equipment Leasing 2018-1 LLC	3.630%	10/20/2024	0.0%
Marlette Funding Trust 2018-4	3.710%	12/15/2028	0.0%
Jackson National Life Global Funding	0.795%	06/11/2021	0.0%
Drive Auto Receivables Trust 2018-2	3.630%	08/15/2024	0.0%
USAA Auto Owner Trust 2019-1	2.260%	02/15/2022	0.0%
Mercedes-Benz Auto Lease Trust 2018-B	3.210%	09/15/2021	0.0%
Capital One NA/Mclean VA	1.364%	01/30/2023	0.0%
Chesapeake Funding II LLC	0.451%	11/15/2029	0.0%
Enterprise Fleet Financing LLC	2.870%	10/20/2023	0.0%
Fifth Third Auto Trust 2019-1	2.660%	05/16/2022	0.0%
Assurant, Inc.	1.534%	03/26/2021	0.0%
Westgate Resorts 2018-1 LLC	3.380%	12/20/2031	0.0%
Fifth Third Bank, OH	0.891%	02/01/2022	0.0%
Drive Auto Receivables Trust	4.090%	01/15/2026	0.0%
California Republic Auto Receivables Trust 2017-1	2.280%	06/15/2022	0.0%
FREED ABS TRUST 2018-2	3.990%	10/20/2025	0.0%
Flagship Credit Auto Trust 2018-2	2.970%	10/17/2022	0.0%
Hyundai Auto Receivables Trust 2017-B	1.770%	01/18/2022	0.0%
GM Financial Automobile Leasing Trust 2020-1	1.670%	04/20/2022	0.0%
DLL Securitization Trust 2017-A	2.140%	12/15/2021	0.0%
SCF Equipment Leasing 2019-1 LLC	3.040%	03/20/2023	0.0%
Drive Auto Receivables Trust	3.720%	10/17/2022	0.0%
Exeter Automobile Receivables Trust 2016-3	4.220%	06/15/2022	0.0%
Wheels SPV 2 LLC	3.060%	04/20/2027	0.0%
Ascentium Equipment Receivables 2017-1 Trust	2.290%	06/10/2021	0.0%
CarMax Auto Owner Trust 2017-2	1.930%	03/15/2022	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.240%	04/08/2022	0.0%
Exeter Automobile Receivables Trust 2017-1	3.950%	12/15/2022	0.0%
Chesapeake Funding II LLC	1.990%	05/15/2029	0.0%
Honda Auto Receivables 2017-3 Owner Trust	1.790%	09/20/2021	0.0%
Chesapeake Funding II LLC	1.910%	08/15/2029	0.0%
CCG Receivables Trust 2018-1	2.500%	06/16/2025	0.0%
Chesapeake Funding II LLC	0.591%	05/15/2029	0.0%
Avid Automobile Receivables Trust 2018-1	2.840%	08/15/2023	0.0%
TCF Auto Receivables Owner Trust 2016-PT1	1.930%	06/15/2022	0.0%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 01/27/2021: $0
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	12/31/2020	$0.00419	$10.04
Daily	Daily	11/30/2020	$0.00468	$10.04
Daily	Daily	10/31/2020	$0.00502	$10.04
Daily	Daily	09/30/2020	$0.00539	$10.04
Daily	Daily	08/31/2020	$0.00652	$10.04
Daily	Daily	07/31/2020	$0.00814	$10.04
Daily	Daily	06/30/2020	$0.00951	$10.03
Daily	Daily	05/31/2020	$0.01200	$10.00
Daily	Daily	04/30/2020	$0.01413	$9.96
Daily	Daily	03/31/2020	$0.01641	$9.86
Daily	Daily	02/29/2020	$0.01628	$10.04
Daily	Daily	01/31/2020	$0.01798	$10.04

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	01/31/2021
Daily	Daily	02/28/2021
Daily	Daily	03/31/2021
Daily	Daily	04/30/2021
Daily	Daily	05/31/2021
Daily	Daily	06/30/2021
Daily	Daily	07/31/2021
Daily	Daily	08/31/2021
Daily	Daily	09/30/2021
Daily	Daily	10/31/2021
Daily	Daily	11/30/2021
Daily	Daily	12/31/2021

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

Record Date	Ex-Dividend Date
12/16/2021	12/17/2021

Fees & Expenses

EXPENSE RATIOas of 12/31/2020

0.25%

Expense ratio details, Click here.

The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 03/31/2020. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.

Fund Documents

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n/a	Portfolio Holdings 1Q Publish Date:11/03/2015
n/a	Portfolio Holdings 3Q Publish Date:11/03/2015
	Summary Prospectus Publish Date:11/03/2015
n/a	Statutory Prospectus Publish Date:11/03/2015
n/a	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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^*Barron’s Top Fund Families of 2019, February 14, 2020, #5 in the Taxable Bond Category among 55 fund families. Based on the net total return of the one−year period ending 12/31/2019. #14 Overall ranking among 55 qualifying fund families based on the net total return of the one-year period ending 12/31/2019. Five-year Overall ranking is #30 out of 52 fund families; 10-year Overall ranking is #33 out of 45 fund families.

Source: Barron’s, “Barron’s Top Fund Families of 2019,” February 14, 2020. Barron’s rankings are based on asset weighted returns in funds in five categories: U.S. equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2019, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2019 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well. Barron's Fund Family Rankings are awarded annually.

© Reuters 2020. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

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.

The Ultra Short Bond Fund’s 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s 7 Day Yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

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.

The Fund’s 7 Day Yield is shown without sales charges. The Fund’s Subsidized 7 Day Yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s 7 Day Yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

⁴The Ultra Short Bond Fund's 7 Day Yield is computed by averaging daily income dividends declared (net of expenses) in the Fund over the previous 7 days, and dividing that annualized rate by the Fund’s NAV. This is a rolling calculation, updated daily.

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

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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Securing a sustainable future forour clients, our people, and our world. Inspired by our mission, we are committed to creating long-term financial security for our clients, empowering our people, advancing our communities, and ensuring a vibrant future for our planet.

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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 01/27/2021

30-Day Standardized Yield 2 as of 12/31/2020

Fund Basicsas of 12/31/2020

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

RELATED CONTENT

Credit Quality Distribution as of 12/31/2020 View Portfolio

INVESTMENT TEAM

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Performance

Performance

NAV HISTORICAL PRICES

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 12/31/2020

Portfolio Positioning as of 9/30/2020

Portfolio Details as of 12/31/2020

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

CAPITAL GAINS DISTRIBUTIONS

Upcoming Capital Gain Distribution

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 12/31/2020

Fund Documents

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Securing a sustainable future for
our clients, our people, and our world.

Inspired by our mission, we are committed to creating long-term financial security for our clients, empowering our people, advancing our communities, and ensuring a vibrant future for our planet.

7 Day Yield ^1,4 as of 01/27/2021

30-Day Standardized Yield ² as of 12/31/2020