LUBWX | Ultra Short Bond Fund Class R6 | Lord Abbett
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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 05/07/2021  

w/o sales charge 0.53%

30-Day Standardized Yield 2 as of 03/31/2021  

0.35%

Fund Basicsas of 03/31/2021

Total Net Assets
$19.85 B
Inception Date
10/17/2016
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 0.08% 1.44% 1.95% - - 1.84%
Lipper Category Avg. Ultra-Short Obligations Funds 0.18% 2.12% 1.92% - - -
ICE BofA U.S. Treasury Bill Index 0.03% 0.12% 1.50% - - 1.29%

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 0.03% 2.56% 2.03% - - 1.87%
Lipper Category Avg. Ultra-Short Obligations Funds 0.11% 3.32% 1.95% - - -
ICE BofA U.S. Treasury Bill Index 0.02% 0.12% 1.55% - - 1.32%

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.

Type Assets
Corp Floating
ABS
Corp Fixed Rate
Commercial Paper
U.S. Government Related
Other
Cash
Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years

Credit Quality Distribution as of 03/31/2021 View Portfolio

Rating Assets
A-1/P-1
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

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 64 Investment Professionals with 16 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
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 0.03% - - - 0.09%
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

Portfolio

Type Assets
Corp Floating
ABS
Corp Fixed Rate
Commercial Paper
U.S. Government Related
Other
Cash
Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years

CREDIT QUALITY DISTRIBUTION as of 03/31/2021

Rating Assets
A-1/P-1
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB
<BBB
Not Rated

Portfolio Positioning as of 12/31/2020

  • The Fund invests in a combination of corporate floating and fixed rate notes, commercial paper, and ABS to capture excess yield while mitigating credit, liquidity, and duration risk.
  • The primary shift in Fund’s 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 short-term rates are expected to remain lower for longer. The Fund’s commercial paper allocation has also decreased as a result of weaker supply in the market.
  • Overall, the Fund remains high-quality, short-term, and very liquid. We remain focused on maintaining a high degree of liquidity, which should allow us to continue to take advantage of attractive opportunities in the front-end markets.
  • We feel valuations are fair, though tight relative to historical levels. This is justified by improving economic fundamentals and an abundance of liquidity in the market. Overall, we continue to have a broadly constructive view on credit, and are positioning the Fund based on relative value, underlying fundamentals, and our top-down view. 

Portfolio Details as of 03/31/2021

Total Net Assets
$19.85 B
Number of Issues
514
Average Coupon
1.42%
Average Life
1.08 Years
Average Effective Duration
0.54 Years

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For
YTD Dividends Paidas of 05/07/2021
$0.017
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2021 $0.00481 $10.03
Daily Daily 03/31/2021 $0.00443 $10.03
Daily Daily 02/28/2021 $0.00431 $10.04
Daily Daily 01/31/2021 $0.00415 $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 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

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
12/16/2021 12/17/2021

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 04/30/2021

0.25%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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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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