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Daily price w/o sales chargeas of 05/24/2023
$2.39
$0.01
YTD Returns w/o sales chargeas of 05/24/2023
2.31%
Pleaseclick hereforperformance current to the most recent quarter-end and month-end.
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Summary
Summary
What is the Income Fund?
The Fund seeks to deliver a high level of current income by investing primarily in a wide range of investment grade fixed income securities.
FOCUS ON CORPORATE CREDIT
The investment team focuses on corporate bonds, diversified with select mortgage, high yield and non-U.S. securities to provide the opportunity for attractive total return.
BUILT ON INTENSIVE RESEARCH
The strategy employs quantitative and fundamental research to drive sector rotation and security selection.
IDENTIFY INCOME
The investment process identifies fixed-income sectors and securities with attractive valuations to provide the opportunity to deliver income.
Yield
Dividend Yield1as of05/24/2023
| w/o sales charge | 4.94% |
| w/ sales charge | 4.82% |
30-Day Standardized Yield2as of04/30/2023 | 4.94% |
Average Yield to Worstas of04/28/2023 | 5.9% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Yield-To-Worst- The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.
Fund Basicsas of 04/28/2023
- Total Net Assets
- $2.88 B
- Inception Date
- 09/19/1932*
- Dividend Frequency
- Monthly
- Fund Gross Expense Ratio
- 0.75%
- Fund Net Expense Ratio
- 0.75%
- Number of Holdings
- 313
- Minimum Initial Investment
- $1,500+
In addition, the Fund has amended its strategy on December 14, 2007.
*
The Fund changed its investment strategy on 01/01/1982. Performance is calculated from this date.
Fund Expense Ratio :
Gross0.75%
Net0.75%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1982 |
|---|
| w/o sales charge | 4.55% | -1.49% | 0.31% | 1.66% | 2.25% | 6.98% |
| Lipper Category Avg. Corporate Debt Funds BBB-Rated | 4.32% | -0.50% | -1.92% | 1.64% | 1.88% | - |
| Bloomberg U.S. Credit Bond Index | 4.26% | 0.72% | -1.92% | 1.88% | 2.08% | 7.77% |
| w/ sales charge | 2.40% | -3.71% | -0.41% | 1.22% | 2.02% | 6.93% |
Fund Expense Ratio :
Gross0.75%
Net0.75%
Fund Expense Ratio :
Gross0.75%
Net0.75%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1982 |
|---|
| w/o sales charge | 3.71% | -6.32% | 1.78% | 1.35% | 2.34% | 6.98% |
| Lipper Category Avg. Corporate Debt Funds BBB-Rated | 3.59% | -6.26% | -0.54% | 1.32% | 1.99% | - |
| Bloomberg U.S. Credit Bond Index | 3.45% | -5.31% | -0.70% | 1.54% | 2.18% | 7.76% |
| w/ sales charge | 1.57% | -8.34% | 1.02% | 0.92% | 2.11% | 6.92% |
Fund Expense Ratio :
Gross0.75%
Net0.75%
Returns with sales charges reflect a maximum sales charge of 2.25%.
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.
| Type | Assets |
|---|---|
| Investment Grade Corporate | |
| High Yield Corporate | |
| ABS | |
| U.S. Government Related | |
| Bank Loans | |
| CLO | |
| CMBS | |
| Sovereign | |
| 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 | |
| 3-4.99 years | |
| 5-6.99 years | |
| 7-9.99 years | |
| Greater than 10 years |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distributionas of 04/28/2023View Portfolio
| Rating | Assets |
|---|---|
| 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
Andrew H. O'Brien, CFA
Partner & Portfolio Manager
25 Years of Industry Experience
Robert A. Lee
Partner & Co-Head of Taxable Fixed Income
32 Years of Industry Experience
Kewjin Yuoh
Partner & Portfolio Manager
29 Years of Industry Experience
Steven F. Rocco, CFA
Partner & Co-Head of Taxable Fixed Income
22 Years of Industry Experience
Yoana N. Koleva, CFA
Partner, Portfolio Manager
20 Years of Industry Experience
Eric P. Kang
Managing Director, Portfolio Manager
24 Years of Industry Experience
Supported By 76Investment Professionals with16Years Avg. Industry Experience
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Performance
Performance
Dividend Yield1as of05/24/2023
| w/o sales charge | 4.94% |
| w/ sales charge | 4.82% |
30-Day Standardized Yield2as of04/30/2023
| Subsidized5 | Un-Subsidized6 | |
|---|---|---|
| w/o sales charge | 4.94% | 4.94% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Fund Expense Ratio :
Gross0.75%
Net0.75%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1982 |
|---|
| w/o sales charge | 4.55% | -1.49% | 0.31% | 1.66% | 2.25% | 6.98% |
| Lipper Category Avg. Corporate Debt Funds BBB-Rated | 4.32% | -0.50% | -1.92% | 1.64% | 1.88% | - |
| Bloomberg U.S. Credit Bond Index | 4.26% | 0.72% | -1.92% | 1.88% | 2.08% | 7.77% |
| w/ sales charge | 2.40% | -3.71% | -0.41% | 1.22% | 2.02% | 6.93% |
Fund Expense Ratio :
Gross0.75%
Net0.75%
Fund Expense Ratio :
Gross0.75%
Net0.75%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1982 |
|---|
| w/o sales charge | 3.71% | -6.32% | 1.78% | 1.35% | 2.34% | 6.98% |
| Lipper Category Avg. Corporate Debt Funds BBB-Rated | 3.59% | -6.26% | -0.54% | 1.32% | 1.99% | - |
| Bloomberg U.S. Credit Bond Index | 3.45% | -5.31% | -0.70% | 1.54% | 2.18% | 7.76% |
| w/ sales charge | 1.57% | -8.34% | 1.02% | 0.92% | 2.11% | 6.92% |
Fund Expense Ratio :
Gross0.75%
Net0.75%
Returns with sales charges reflect a maximum sales charge of 2.25%.
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.
| Year | Fund Returns | Bloomberg U.S. Credit Bond Index |
|---|
| 2022 | -15.48% | -15.26% |
| 2021 | 1.30% | -1.08% |
| 2020 | 7.95% | 9.35% |
| 2019 | 12.92% | 13.80% |
| 2018 | -2.69% | -2.11% |
| 2017 | 6.93% | 6.18% |
| 2016 | 8.74% | 5.63% |
| 2015 | -3.09% | -0.77% |
| 2014 | 7.23% | 7.53% |
| 2013 | 0.27% | -2.01% |
| 2012 | 12.51% | - |
| 2011 | 6.55% | - |
| 2010 | 10.84% | - |
| 2009 | 30.23% | - |
| 2008 | -10.16% | - |
| 2007 | 6.17% | - |
| 2006 | 3.58% | - |
| 2005 | 2.23% | - |
| 2004 | 3.81% | - |
| 2003 | 1.58% | - |
| Year | Q1 | Q2 | Q3 | Q4 | Yearly Returns |
|---|
| 2023 | 3.71% | - | - | - | 2.31% |
| 2022 | -6.43% | -7.61% | -4.98% | 2.89% | -15.48% |
| 2021 | -2.55% | 3.52% | 0.41% | 0.00% | 1.30% |
| 2020 | -9.10% | 11.02% | 2.97% | 3.88% | 7.95% |
| 2019 | 5.20% | 3.54% | 2.37% | 1.26% | 12.92% |
| 2018 | -1.49% | -0.76% | 0.67% | -1.13% | -2.69% |
| 2017 | 2.33% | 1.94% | 1.59% | 0.89% | 6.93% |
| 2016 | 3.07% | 4.36% | 2.75% | -1.61% | 8.74% |
| 2015 | 1.83% | -1.72% | -2.09% | -1.09% | -3.09% |
| 2014 | 3.72% | 3.64% | -0.19% | -0.06% | 7.23% |
| 2013 | 1.20% | -3.53% | 0.57% | 2.12% | 0.27% |
| 2012 | 3.78% | 1.28% | 4.69% | 2.24% | 12.51% |
| 2011 | 2.04% | 2.35% | -0.43% | 2.47% | 6.55% |
| 2010 | 3.37% | 1.82% | 5.77% | -0.43% | 10.84% |
| 2009 | 2.64% | 13.30% | 9.57% | 2.21% | 30.23% |
| 2008 | 1.16% | 0.53% | -6.43% | -5.59% | -10.16% |
| 2007 | 1.14% | -0.86% | 2.73% | 3.07% | 6.17% |
| 2006 | -0.92% | -0.15% | 3.53% | 1.14% | 3.58% |
| 2005 | -0.23% | 2.87% | -0.97% | 0.59% | 2.23% |
| 2004 | 2.46% | -2.48% | 2.95% | 0.91% | 3.81% |
| 2003 | 0.61% | 1.69% | -0.87% | 0.14% | 1.58% |
| 2002 | 0.09% | 4.04% | 4.29% | 1.10% | 9.81% |
| 2001 | 2.33% | 0.31% | 4.76% | -0.60% | 6.91% |
| 2000 | 1.62% | 2.04% | 3.20% | 4.05% | 11.36% |
| 1999 | -0.35% | -1.21% | 0.43% | -0.40% | -1.57% |
| 1998 | 1.25% | 2.41% | 3.95% | 0.11% | 7.90% |
| 1997 | -1.58% | 4.08% | 3.24% | 3.20% | 9.16% |
| 1996 | -2.75% | -0.01% | 1.64% | 2.84% | 1.65% |
| 1995 | 4.23% | 4.46% | 2.13% | 4.02% | 15.65% |
| 1994 | -3.44% | -1.73% | 0.49% | 0.39% | -4.25% |
| 1993 | 3.77% | 3.02% | 2.37% | -0.15% | 9.22% |
| 1992 | -2.13% | 3.64% | 4.99% | 0.58% | 7.10% |
| 1991 | 2.39% | 1.03% | 6.79% | 5.81% | 16.90% |
| 1990 | -1.25% | 3.79% | 0.19% | 6.37% | 9.23% |
| 1989 | 0.71% | 7.02% | 0.86% | 3.71% | 12.76% |
| 1988 | 4.08% | 1.40% | 2.19% | -0.02% | 7.79% |
| 1987 | 2.04% | -3.12% | -3.71% | 6.77% | 1.65% |
| 1986 | 7.51% | -0.68% | 4.27% | 3.27% | 14.97% |
| 1985 | 0.71% | 9.68% | 1.83% | 6.44% | 19.70% |
| 1984 | 1.33% | -2.82% | 7.11% | 6.81% | 12.68% |
| 1983 | 5.62% | 2.63% | 0.80% | 0.64% | 9.95% |
| 1982 | - | 2.91% | 10.87% | 8.62% | 27.89% |
Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.
Growth of $10,000as of 03/31/2023
The chart begins on the Fund's inception date of 01/01/1982.
Based on a hypothetical Class A share investment of $10,000 on 01/01/1982 without sales charge and includes the reinvestment of all distributions.
NAV Historical Prices
| Date | Net Asset Value |
|---|
Portfolio
Portfolio
| Type | Assets |
|---|---|
| Investment Grade Corporate | |
| High Yield Corporate | |
| ABS | |
| U.S. Government Related | |
| Bank Loans | |
| CLO | |
| CMBS | |
| Sovereign | |
| 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 | |
| 3-4.99 years | |
| 5-6.99 years | |
| 7-9.99 years | |
| Greater than 10 years |
The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distributionas of 04/28/2023
| Rating | Assets |
|---|---|
| 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 Detailsas of 04/28/2023
- Total Net Assets
- $2.88 B
- Number of Issues
- 313
- Average Coupon
- 4.82%
- Average Life
- 8.16 Years
- Average Maturity
- 8.15 Years
- Average Effective Duration
- 6.85 Years
- Average Yield to Worst
- 5.9%
To view definitions for the above Portfolio Details,Click here.
Average Coupon- The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.
Average Life -Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security. Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.
Average Effective Duration -The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.
Yield-To-Worst- The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.
| Holding | Coupon | Maturity | Assets |
|---|
| United States Treasury Note/Bond | 3.625% | 02/15/2053 | 1.6% |
| Sprint Capital Corp | 6.875% | 11/15/2028 | 1.5% |
| United States Treasury Inflation Indexed Bonds | 0.250% | 01/15/2025 | 1.2% |
| JPMorgan Chase & Co | 4.912% | 07/25/2033 | 1.2% |
| AT&T Inc | 3.500% | 09/15/2053 | 1.1% |
| BAT Capital Corp | 7.750% | 10/19/2032 | 1.1% |
| Bank of America Corp | 2.687% | 04/22/2032 | 1.1% |
| Continental Resources Inc/OK | 5.750% | 01/15/2031 | 1.0% |
| Netflix Inc | 5.375% | 11/15/2029 | 1.0% |
| Centene Corp | 3.375% | 02/15/2030 | 1.0% |
| % of Total Assets | 11.8% | ||
|---|---|---|---|
| Holding | Coupon | Maturity | Assets |
|---|
| Sprint Capital Corp | 6.875% | 11/15/2028 | 1.5% |
| United States Treasury Note/Bond | 3.625% | 02/15/2053 | 1.4% |
| United States Treasury Inflation Indexed Bonds | 0.250% | 01/15/2025 | 1.2% |
| JPMorgan Chase & Co | 4.912% | 07/25/2033 | 1.2% |
| AT&T Inc | 3.500% | 09/15/2053 | 1.2% |
| BAT Capital Corp | 7.750% | 10/19/2032 | 1.2% |
| Bank of America Corp | 2.687% | 04/22/2032 | 1.1% |
| Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc | 4.700% | 02/01/2036 | 1.1% |
| Continental Resources Inc/OK | 5.750% | 01/15/2031 | 1.0% |
| Netflix Inc | 5.375% | 11/15/2029 | 1.0% |
| Centene Corp | 3.375% | 02/15/2030 | 1.0% |
| VICI Properties LP / VICI Note Co Inc | 4.625% | 06/15/2025 | 0.9% |
| Toronto-Dominion Bank/The | 4.456% | 06/08/2032 | 0.9% |
| Philip Morris International Inc | 5.625% | 11/17/2029 | 0.9% |
| Crown Castle Inc | 3.300% | 07/01/2030 | 0.8% |
| Goldman Sachs Group Inc/The | 2.383% | 07/21/2032 | 0.8% |
| GE HealthCare Technologies Inc | 5.650% | 11/15/2027 | 0.8% |
| Southwest Gas Corp | 4.050% | 03/15/2032 | 0.8% |
| Humana Inc | 3.700% | 03/23/2029 | 0.7% |
| CVS Health Corp | 5.625% | 02/21/2053 | 0.7% |
| Pacific Gas and Electric Co | 4.550% | 07/01/2030 | 0.7% |
| TORONTO DOMINION BANK THE | 0.010% | 04/03/2023 | 0.7% |
| NGPL PipeCo LLC | 4.875% | 08/15/2027 | 0.7% |
| Puget Energy Inc | 4.100% | 06/15/2030 | 0.7% |
| Lowe's Cos Inc | 5.000% | 04/15/2033 | 0.7% |
| Broadcom Inc | 4.150% | 04/15/2032 | 0.7% |
| Workday Inc | 3.800% | 04/01/2032 | 0.7% |
| State of Illinois | 5.100% | 06/01/2033 | 0.7% |
| Regal Rexnord Corp | 6.300% | 02/15/2030 | 0.7% |
| American Tower Corp | 3.800% | 08/15/2029 | 0.7% |
| Kellogg Co | 5.250% | 03/01/2033 | 0.7% |
| Federal electricity commission | 4.688% | 05/15/2029 | 0.6% |
| JT International Financial Services BV | 6.875% | 10/24/2032 | 0.6% |
| Jabil Inc | 0.000% | 04/03/2023 | 0.6% |
| Vistra Operations Co LLC | 3.550% | 07/15/2024 | 0.6% |
| Imperial Brands Finance PLC | 6.125% | 07/27/2027 | 0.6% |
| EQT Corp | 7.000% | 02/01/2030 | 0.6% |
| Amazon.com Inc | 4.700% | 12/01/2032 | 0.6% |
| Cargill Inc | 4.000% | 06/22/2032 | 0.6% |
| Global Payments Inc | 5.300% | 08/15/2029 | 0.6% |
| Texas Natural Gas Securitization Finance Corp | 5.169% | 04/01/2041 | 0.6% |
| Cigna Group/The | 4.375% | 10/15/2028 | 0.6% |
| Viterra Finance BV | 3.200% | 04/21/2031 | 0.6% |
| Citigroup Inc | 2.561% | 05/01/2032 | 0.6% |
| Amgen Inc | 5.250% | 03/02/2033 | 0.5% |
| Avolon Holdings Funding Ltd | 4.250% | 04/15/2026 | 0.5% |
| Toyota Motor Credit Corp | 4.700% | 01/12/2033 | 0.5% |
| Citigroup Inc | 4.910% | 05/24/2033 | 0.5% |
| Oracle Corp | 5.375% | 07/15/2040 | 0.5% |
| Antero Resources Corp | 5.375% | 03/01/2030 | 0.5% |
| Fluor Corp | 4.250% | 09/15/2028 | 0.5% |
| Norfolk Southern Corp | 4.450% | 03/01/2033 | 0.5% |
| Patterson-UTI Energy Inc | 5.150% | 11/15/2029 | 0.5% |
| American Electric Power Co Inc | 5.625% | 03/01/2033 | 0.5% |
| Morgan Stanley | 6.342% | 10/18/2033 | 0.5% |
| Haleon US Capital LLC | 3.625% | 03/24/2032 | 0.5% |
| Duke Energy Corp | 4.500% | 08/15/2032 | 0.5% |
| UBS AG | 5.125% | 05/15/2024 | 0.5% |
| American Express Co | 4.989% | 05/26/2033 | 0.5% |
| ServiceNow Inc | 1.400% | 09/01/2030 | 0.5% |
| US Bancorp | 4.839% | 02/01/2034 | 0.5% |
| State Street Corp | 4.164% | 08/04/2033 | 0.5% |
| Wells Fargo & Co | 3.350% | 03/02/2033 | 0.5% |
| NRG Energy Inc | 4.450% | 06/15/2029 | 0.5% |
| Hilton Worldwide Finance LLC | 6.642% | 06/22/2026 | 0.5% |
| Celanese US Holdings LLC | 5.900% | 07/05/2024 | 0.5% |
| International Flavors & Fragrances Inc | 1.230% | 10/01/2025 | 0.5% |
| nVent Finance Sarl | 4.550% | 04/15/2028 | 0.5% |
| Oracle Corp | 6.125% | 07/08/2039 | 0.5% |
| Bayer Corp/NJ | 6.650% | 02/15/2028 | 0.5% |
| F&G Annuities & Life Inc | 7.400% | 01/13/2028 | 0.5% |
| Humana Inc | 5.875% | 03/01/2033 | 0.4% |
| Amgen Inc | 4.050% | 08/18/2029 | 0.4% |
| Danske Bank A/S | 5.375% | 01/12/2024 | 0.4% |
| Duquesne Light Holdings Inc | 2.775% | 01/07/2032 | 0.4% |
| Earthstone Energy Holdings LLC | 8.000% | 04/15/2027 | 0.4% |
| Oracle Corp | 6.250% | 11/09/2032 | 0.4% |
| Crescent Energy Finance LLC | 7.250% | 05/01/2026 | 0.4% |
| DTE Energy Co | 2.950% | 03/01/2030 | 0.4% |
| IPALCO Enterprises Inc | 4.250% | 05/01/2030 | 0.4% |
| T-Mobile USA Inc | 3.875% | 04/15/2030 | 0.4% |
| AbbVie Inc | 3.200% | 11/21/2029 | 0.4% |
| Amgen Inc | 4.875% | 03/01/2053 | 0.4% |
| Fairstone Financial Issuance Trust I | 5.162% | 10/20/2039 | 0.4% |
| CVS Health Corp | 5.050% | 03/25/2048 | 0.4% |
| Southern Co/The | 2.700% | 08/01/2024 | 0.4% |
| Octane Receivables Trust 2022-2 | 5.850% | 07/20/2028 | 0.4% |
| Eni SpA | 5.700% | 10/01/2040 | 0.4% |
| Booz Allen Hamilton Inc | 3.875% | 09/01/2028 | 0.4% |
| Jacobs Engineering Group Inc | 5.900% | 03/01/2033 | 0.4% |
| JPMorgan Chase & Co | 2.963% | 01/25/2033 | 0.4% |
| Charter Communications Operating LLC | 6.557% | 04/30/2025 | 0.4% |
| Brown & Brown Inc | 4.200% | 03/17/2032 | 0.4% |
| US ULTRA BOND CBT Jun23 | 0.000% | 06/30/2023 | 0.4% |
| Alcoa Netherlands Holding BV | 4.125% | 03/31/2029 | 0.4% |
| Minejesa Capital BV | 4.625% | 08/10/2030 | 0.4% |
| Avis Budget Rental Car Funding AESOP LLC | 3.710% | 08/20/2027 | 0.4% |
| CVS Health Corp | 4.780% | 03/25/2038 | 0.4% |
| Alcon Finance Corp | 5.375% | 12/06/2032 | 0.4% |
| AEP Transmission Co LLC | 5.400% | 03/15/2053 | 0.4% |
| Elevance Health Inc | 2.250% | 05/15/2030 | 0.4% |
| Louisville Gas and Electric Co | 5.450% | 04/15/2033 | 0.4% |
| New York Life Global Funding | 4.550% | 01/28/2033 | 0.4% |
| Oklahoma Gas and Electric Co | 5.600% | 04/01/2053 | 0.4% |
| Oglethorpe Power Corp | 5.950% | 11/01/2039 | 0.4% |
| Virginia Electric and Power Co | 5.450% | 04/01/2053 | 0.4% |
| Public Service Co of Colorado | 5.250% | 04/01/2053 | 0.4% |
| Constellation Energy Generation LLC | 5.800% | 03/01/2033 | 0.4% |
| Latin American Sites SAB de CV | 5.375% | 04/04/2032 | 0.4% |
| NatWest Group PLC | 6.016% | 03/02/2034 | 0.4% |
| Callon Petroleum Co | 8.000% | 08/01/2028 | 0.4% |
| Intercontinental Exchange Inc | 4.350% | 06/15/2029 | 0.4% |
| Avolon Holdings Funding Ltd | 3.950% | 07/01/2024 | 0.4% |
| Aethon United BR LP / Aethon United Finance Corp | 8.250% | 02/15/2026 | 0.4% |
| Aircastle Ltd | 2.850% | 01/26/2028 | 0.4% |
| Madison Park Funding XVII Ltd | 6.315% | 07/21/2030 | 0.4% |
| MSCI Inc | 3.625% | 11/01/2031 | 0.3% |
| Credit Suisse Group AG | 6.373% | 07/15/2026 | 0.3% |
| Wells Fargo & Co | 4.897% | 07/25/2033 | 0.3% |
| AT&T Inc | 4.300% | 02/15/2030 | 0.3% |
| National Australia Bank Ltd | 3.933% | 08/02/2034 | 0.3% |
| Elevance Health Inc | 4.100% | 05/15/2032 | 0.3% |
| Danske Bank A/S | 3.773% | 03/28/2025 | 0.3% |
| US Bancorp | 4.967% | 07/22/2033 | 0.3% |
| California Resources Corp | 7.125% | 02/01/2026 | 0.3% |
| Vermilion Energy Inc | 6.875% | 05/01/2030 | 0.3% |
| Global Payments Inc | 0.000% | 04/03/2023 | 0.3% |
| Permian Resources Operating LLC | 6.875% | 04/01/2027 | 0.3% |
| Spire Missouri Inc | 4.800% | 02/15/2033 | 0.3% |
| Atlantica Sustainable Infrastructure PLC | 4.125% | 06/15/2028 | 0.3% |
| Vital Energy Inc | 10.125% | 01/15/2028 | 0.3% |
| Romark CLO Ltd | 6.465% | 10/23/2030 | 0.3% |
| Liberty Utilities Finance GP 1 | 2.050% | 09/15/2030 | 0.3% |
| Diamondback Energy Inc | 3.125% | 03/24/2031 | 0.3% |
| Assurant Inc. | 3.700% | 02/22/2030 | 0.3% |
| BankUnited Inc | 5.125% | 06/11/2030 | 0.3% |
| EPR Properties | 4.950% | 04/15/2028 | 0.3% |
| SEB Funding LLC | 4.969% | 01/30/2052 | 0.3% |
| Aker BP ASA | 3.100% | 07/15/2031 | 0.3% |
| American Express Co | 4.420% | 08/03/2033 | 0.3% |
| Santander Consumer Auto Receivables Trust 2020-B | 7.030% | 08/15/2028 | 0.3% |
| FactSet Research Systems Inc | 3.450% | 03/01/2032 | 0.3% |
| Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd | 6.084% | 05/15/2036 | 0.3% |
| Westpac Banking Corp | 4.110% | 07/24/2034 | 0.3% |
| International Flavors & Fragrances Inc | 2.300% | 11/01/2030 | 0.3% |
| Regal Rexnord Corp | 6.050% | 04/15/2028 | 0.3% |
| ROCC Holdings LLC | 9.250% | 08/15/2026 | 0.3% |
| Great Wolf Trust 2019-WOLF | 5.976% | 12/15/2036 | 0.3% |
| Hyatt Hotels Corp | 1.300% | 10/01/2023 | 0.3% |
| Rad CLO 7 Ltd | 5.992% | 04/17/2033 | 0.3% |
| Tap Rock Resources LLC | 7.000% | 10/01/2026 | 0.3% |
| Intesa Sanpaolo SpA | 8.248% | 11/21/2033 | 0.3% |
| Bank of America Corp | 2.482% | 09/21/2036 | 0.3% |
| Leidos Inc | 7.125% | 07/01/2032 | 0.3% |
| CarMax Auto Owner Trust 2023-1 | 6.270% | 11/15/2029 | 0.3% |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 1.750% | 10/29/2024 | 0.3% |
| Macquarie Bank Ltd | 3.052% | 03/03/2036 | 0.3% |
| CenterPoint Energy Resources Corp | 5.400% | 03/01/2033 | 0.3% |
| Ovintiv Inc | 6.500% | 02/01/2038 | 0.3% |
| Trimble Inc | 6.100% | 03/15/2033 | 0.3% |
| Oklahoma Gas and Electric Co | 5.400% | 01/15/2033 | 0.3% |
| Berry Petroleum Co LLC | 7.000% | 02/15/2026 | 0.3% |
| Bayer US Finance II LLC | 4.375% | 12/15/2028 | 0.3% |
| GLP Capital LP / GLP Financing II Inc | 5.750% | 06/01/2028 | 0.3% |
| Discover Bank | 4.682% | 08/09/2028 | 0.3% |
| Intact Financial Corp | 5.459% | 09/22/2032 | 0.3% |
| Horizon Therapeutics USA Inc | 6.563% | 03/15/2028 | 0.2% |
| CIFC Funding 2021-IV Ltd | 5.842% | 07/15/2033 | 0.2% |
| Morgan Stanley | 2.484% | 09/16/2036 | 0.2% |
| Capital One Financial Corp | 1.343% | 12/06/2024 | 0.2% |
| Pacific Gas and Electric Co | 6.150% | 01/15/2033 | 0.2% |
| Carvana Auto Receivables Trust 2019-4 | 4.700% | 10/15/2026 | 0.2% |
| Occidental Petroleum Corp | 6.625% | 09/01/2030 | 0.2% |
| Tampa Electric Co | 4.300% | 06/15/2048 | 0.2% |
| Hilcorp Energy I LP / Hilcorp Finance Co | 6.250% | 11/01/2028 | 0.2% |
| Flowserve Corp | 2.800% | 01/15/2032 | 0.2% |
| Wyndham Hotels & Resorts Inc | 6.590% | 05/30/2025 | 0.2% |
| Texas Capital Bancshares Inc | 4.000% | 05/06/2031 | 0.2% |
| Stars Group Holdings BV | 7.409% | 07/21/2026 | 0.2% |
| Eastern Gas Transmission & Storage Inc | 3.000% | 11/15/2029 | 0.2% |
| Molina Healthcare Inc | 4.375% | 06/15/2028 | 0.2% |
| KeyBank NA/Cleveland OH | 5.000% | 01/26/2033 | 0.2% |
| AES Corp/The | 2.450% | 01/15/2031 | 0.2% |
| Protective Life Corp | 8.450% | 10/15/2039 | 0.2% |
| Cellnex Finance Co SA | 3.875% | 07/07/2041 | 0.2% |
| LoanCore 2022-CRE7 Issuer Ltd | 6.108% | 01/17/2037 | 0.2% |
| Avant Loans Funding Trust 2021-REV1 | 4.300% | 07/15/2030 | 0.2% |
| Morgan Stanley | 2.239% | 07/21/2032 | 0.2% |
| Westpac Banking Corp | 2.668% | 11/15/2035 | 0.2% |
| Constellation Brands Inc | 3.150% | 08/01/2029 | 0.2% |
| Fresenius Medical Care US Finance III Inc | 3.000% | 12/01/2031 | 0.2% |
| BNP Paribas SA | 4.375% | 03/01/2033 | 0.2% |
| US 2YR NOTE (CBT) Jun23 | 0.000% | 07/06/2023 | 0.2% |
| PVH Corp | 7.750% | 11/15/2023 | 0.2% |
| UBS Group AG | 2.746% | 02/11/2033 | 0.2% |
| Leidos Inc | 4.375% | 05/15/2030 | 0.2% |
| Manufacturers & Traders Trust Co | 4.650% | 01/27/2026 | 0.2% |
| Cigna Group/The | 2.400% | 03/15/2030 | 0.2% |
| Nabors Industries Ltd | 7.250% | 01/15/2026 | 0.2% |
| BPCE SA | 3.116% | 10/19/2032 | 0.2% |
| Viterra Finance BV | 4.900% | 04/21/2027 | 0.2% |
| Brown-Forman Corp | 4.750% | 04/15/2033 | 0.2% |
| US LONG BOND(CBT) Jun23 | 0.000% | 06/30/2023 | 0.2% |
| Aon Corp | 8.205% | 01/01/2027 | 0.2% |
| Constellation Energy Generation LLC | 6.250% | 10/01/2039 | 0.2% |
| FirstEnergy Transmission LLC | 4.550% | 04/01/2049 | 0.2% |
| CVS Health Corp | 3.250% | 08/15/2029 | 0.2% |
| Navient Corp | 6.750% | 06/25/2025 | 0.2% |
| NatWest Group PLC | 3.032% | 11/28/2035 | 0.2% |
| Baytex Energy Corp | 8.750% | 04/01/2027 | 0.2% |
| Diamondback Energy Inc | 6.250% | 03/15/2033 | 0.2% |
| UBS Group AG | 5.959% | 01/12/2034 | 0.2% |
| NOV Inc | 3.600% | 12/01/2029 | 0.2% |
| Akbank TAS | 6.797% | 04/27/2028 | 0.2% |
| Alpha Development SpA | 4.550% | 09/27/2051 | 0.2% |
| Neuberger Berman Group LLC / Neuberger Berman Finance Corp | 4.500% | 03/15/2027 | 0.2% |
| Diamondback Energy Inc | 3.500% | 12/01/2029 | 0.2% |
| Octagon Loan Funding Ltd | 6.081% | 11/18/2031 | 0.2% |
| Gulfport Energy Corp | 8.000% | 05/17/2026 | 0.2% |
| Eastern Gas Transmission & Storage Inc | 4.600% | 12/15/2044 | 0.2% |
| CIFC Funding 2019-II Ltd | 6.292% | 04/17/2034 | 0.2% |
| Morgan Stanley | 5.297% | 04/20/2037 | 0.2% |
| Marble Point CLO XVII Ltd | 6.108% | 04/20/2033 | 0.2% |
| Selective Insurance Group Inc | 5.375% | 03/01/2049 | 0.2% |
| Ovintiv Inc | 6.625% | 08/15/2037 | 0.2% |
| Hertz Vehicle Financing LLC | 3.980% | 12/26/2025 | 0.2% |
| Global Atlantic Fin Co | 4.700% | 10/15/2051 | 0.2% |
| Bank of New York Mellon Corp/The | 4.596% | 07/26/2030 | 0.2% |
| Viterra Finance BV | 2.000% | 04/21/2026 | 0.2% |
| MHI Holdings LLC | 9.840% | 09/21/2026 | 0.2% |
| Comstock Resources Inc | 5.875% | 01/15/2030 | 0.2% |
| Lendmark Funding Trust 2021-2 | 4.460% | 04/20/2032 | 0.2% |
| Mariner Finance Issuance Trust 2021-A | 5.400% | 03/20/2036 | 0.2% |
| Baltimore Gas and Electric Co | 4.550% | 06/01/2052 | 0.2% |
| CS Master Trust | 8.634% | 04/15/2025 | 0.1% |
| Encino Acquisition Partners Holdings LLC | 8.500% | 05/01/2028 | 0.1% |
| DTE Energy Co | 3.400% | 06/15/2029 | 0.1% |
| Lending Funding Trust 2020-2 | 6.770% | 04/21/2031 | 0.1% |
| GS Mortgage Securities Corp Trust 2021-ROSS | 9.334% | 05/15/2026 | 0.1% |
| Project Alpha Intermediate Holding Inc | 8.840% | 04/26/2024 | 0.1% |
| Voya CLO 2018-4 Ltd | 5.832% | 01/15/2032 | 0.1% |
| Elevance Health Inc | 5.500% | 10/15/2032 | 0.1% |
| EPR Properties | 3.750% | 08/15/2029 | 0.1% |
| Leidos Inc | 5.750% | 03/15/2033 | 0.1% |
| Invitation Homes Operating Partnership LP | 5.840% | 01/31/2025 | 0.1% |
| Kenvue Inc | 5.050% | 03/22/2053 | 0.1% |
| BX Commercial Mortgage Trust 2019-IMC | 6.834% | 04/15/2034 | 0.1% |
| Westlake Automobile Receivables Trust 2021-1 | 3.910% | 09/15/2027 | 0.1% |
| Continental Finance Credit Card ABS Master Trust | 3.660% | 12/15/2028 | 0.1% |
| Elevance Health Inc | 5.125% | 02/15/2053 | 0.1% |
| Mountain View CLO 2017-1 LLC | 5.882% | 10/16/2029 | 0.1% |
| SPX FLOW Inc | 8.750% | 04/01/2030 | 0.1% |
| Aviation Capital Group LLC | 3.500% | 11/01/2027 | 0.1% |
| Sabre GLBL Inc | 7.375% | 09/01/2025 | 0.1% |
| M&T Bank Corp | 5.053% | 01/27/2034 | 0.1% |
| Pacific Gas and Electric Co | 6.700% | 04/01/2053 | 0.1% |
| BBCMS 2019-BWAY Mortgage Trust | 6.552% | 11/15/2034 | 0.1% |
| Neuberger Berman Group LLC / Neuberger Berman Finance Corp | 4.875% | 04/15/2045 | 0.1% |
| Comerica Bank | 2.500% | 07/23/2024 | 0.1% |
| ABN AMRO Bank NV | 3.324% | 03/13/2037 | 0.1% |
| Macquarie Group Ltd | 2.691% | 06/23/2032 | 0.1% |
| Precision Drilling Corp | 6.875% | 01/15/2029 | 0.1% |
| Topaz Solar Farms LLC | 5.750% | 09/30/2039 | 0.1% |
| Santander Consumer Auto Receivables Trust 2021-A | 5.790% | 08/15/2028 | 0.1% |
| HPLY Trust 2019-HIT | 5.684% | 11/15/2036 | 0.1% |
| National Australia Bank Ltd | 2.990% | 05/21/2031 | 0.1% |
| UniCredit S.p.A | 5.459% | 06/30/2035 | 0.1% |
| COMM 2015-PC1 Mortgage Trust | 4.298% | 07/10/2050 | 0.1% |
| Huntington Bancshares Inc/OH | 2.487% | 08/15/2036 | 0.1% |
| Catalent Pharma Solutions Inc | 0.000% | 02/22/2028 | 0.1% |
| CS Master Trust | 8.862% | 04/15/2023 | 0.1% |
| Mariner Finance Issuance Trust 2021-B | 4.680% | 11/20/2036 | 0.1% |
| Vital Energy Inc | 7.750% | 07/31/2029 | 0.1% |
| Assurant Inc. | 2.650% | 01/15/2032 | 0.1% |
| Wells Fargo Commercial Mortgage Trust 2017-C41 | 3.785% | 11/15/2050 | 0.1% |
| Macquarie Bank Ltd | 4.875% | 06/10/2025 | 0.1% |
| Perimeter Master Note Business Trust | 4.230% | 05/15/2024 | 0.1% |
| Western Alliance Bancorp | 3.000% | 06/15/2031 | 0.1% |
| JFIN CLO 2013 Ltd | 6.198% | 01/20/2030 | 0.1% |
| JPMBB Commercial Mortgage Securities Trust 2015-C30 | 4.230% | 07/15/2048 | 0.1% |
| Intesa Sanpaolo SpA | 4.198% | 06/01/2032 | 0.1% |
| Morgan Stanley | 4.431% | 01/23/2030 | 0.0% |
| Leidos Holdings Inc | 5.950% | 12/01/2040 | 0.0% |
| Sri Lanka Government International Bond | 5.875% | 07/25/2022 | 0.0% |
| RESORTS WORLD LAS VEGAS LLC | 6.350% | 04/16/2024 | 0.0% |
| Galaxy XXI CLO Ltd | 5.828% | 04/20/2031 | 0.0% |
| Elevation CLO 2014-2 Ltd | 8.094% | 10/15/2029 | 0.0% |
| Wells Fargo Commercial Mortgage Trust 2013-LC12 | 4.364% | 07/15/2046 | 0.0% |
| LPL Holdings Inc | 6.412% | 11/12/2026 | 0.0% |
| American Airlines Group Inc | 3.750% | 03/01/2025 | 0.0% |
| US 10YR NOTE (CBT)Jun23 | 0.000% | 06/30/2023 | 0.0% |
| GS Mortgage Securities Trust 2015-GS1 | 0.180% | 11/10/2048 | 0.0% |
| CPI Swap | 0.010% | 03/24/2028 | 0.0% |
| CPI Swap | 0.010% | 02/10/2028 | 0.0% |
| Government National Mortgage Association | 0.381% | 07/16/2054 | 0.0% |
| CPI Swap | 0.010% | 03/24/2028 | 0.0% |
| FX USD/CAD 04/23 | 0.000% | 04/20/2023 | 0.0% |
| Alloy Finco Ltd | 0.500% | 03/06/2025 | 0.0% |
| GS Mortgage Securities Trust 2013-GCJ12 | 0.475% | 06/10/2046 | 0.0% |
| Hudsons Bay Simon JV Trust 2015-HBS | 0.493% | 08/05/2034 | 0.0% |
| Hudsons Bay Simon JV Trust 2015-HBS | 0.541% | 08/05/2034 | 0.0% |
| GS Mortgage Securities Trust 2013-GCJ12 | 1.194% | 06/10/2046 | 0.0% |
| OGX Austria GmbH | 8.500% | 06/01/2018 | 0.0% |
| US 5YR NOTE (CBT) Jun23 | 0.000% | 07/06/2023 | -0.1% |
| US 10yr Ultra Fut Jun23 | 0.000% | 06/30/2023 | -0.6% |
Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.
Dividends & Cap Gains
Dividends & Cap Gains
Dividend Payments
For
- YTD Dividends Paidas of05/24/2023
- $0.03790
- Dividend Frequency
- Monthly(Daily Accrual)
| Record Date | Ex-Dividend Date | Reinvest & Payable Date | Dividend | Reinvest Price |
|---|---|---|---|---|
| Daily | Daily | 04/30/2023 | $0.00984 | $2.45 |
| Daily | Daily | 03/31/2023 | $0.00979 | $2.44 |
| Daily | Daily | 02/28/2023 | $0.00917 | $2.39 |
| Daily | Daily | 01/31/2023 | $0.00910 | $2.47 |
Upcoming Dividend Payment Dates
| Record Date | Ex-Dividend Date | Reinvest & Payable Date |
|---|---|---|
| Daily | Daily | 05/31/2023 |
| Daily | Daily | 06/30/2023 |
| Daily | Daily | 07/31/2023 |
| Daily | Daily | 08/31/2023 |
| Daily | Daily | 09/30/2023 |
| Daily | Daily | 10/31/2023 |
| 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 |
|---|---|---|---|---|---|
| 12/16/2021 | 12/17/2021 | $0.0469 | $0.0022 | $0.0491 | $2.94 |
*
Taxed as ordinary income
Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor.
Fees & Expenses
Fees & Expenses
Sales Charge Scheduleas of 05/24/2023
| Sales Charge | Dealer's Concession | Prices at Breakpoint | |
|---|---|---|---|
| Less than$100,000 | 2.25% | 2.00% | $2.45 |
| $100,000 to$249,999 | 1.75% | 1.50% | $2.43 |
| $250,000 to$499,999 | 1.25% | 1.00% | $2.42 |
| $500,000 to$999,999 | 0.00% | 1.00% | $2.39 |
| $1,000,000 to$5,000,000 | 0.00% | 1.00% | $2.39 |
The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.
Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.
For Sales Charge Reductions and WaiversView Full Disclosure
SALES CHARGE REDUCTIONS AND WAIVERS
Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.
Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:
Rights of Accumulation-A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.
- Letter of Intention—In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.
Purchaser—A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.
Eligible fund— An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.
Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:
- purchases of $1 million or more (may be subject to a CDSC);
- purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
- purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
- purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
- certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).
Expense Ratioas of 04/30/2023
| Fund Gross Expense Ratio | Fund Net Expense Ratio | |
|---|---|---|
| 0.75% | 0.75% |
Fund Documents
Fund Documents
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| n/a | Portfolio Holdings 1Q Publish Date:11/03/2015 | ||||
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Summary Prospectus Publish Date:11/03/2015 | |||||
| n/a | Statutory Prospectus 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 | |||||
| Fund Story Publish Date:11/03/2015 | |||||
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*"Barron's Best Fund Families of 2021", #4 ranking in the Taxable Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families. Ranking for the ten-year period ending 12/31/2021 is #2 out of 45 qualifying fund families.
Source: Barron’s, “Barron’s Best Fund Families of 2021,” February 18, 2022. Barron’s rankings are based on asset weighted returns in funds in five categories: generalequity, 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, 2021, 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 2020 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.
To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.
© Refinitiv Lipper 2022. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure.Lippersprovides global, independent fund performance data. 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 investmentvaries 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
Dividend Yieldis a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.
2
The 30-Day Standardized Yieldrepresents 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.
3
The Fund’sDividend Yield, 12-Month Dividend Yield and 7 Day Yieldare shown with and without sales charges and with maximum sales charges. The Fund’sSubsidized Dividendyield 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.
4
The Fund’sUnsubsidized Dividendyield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.
5
The30-day Standardized Subsidizedyields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.
6
The30-day Standardized Unsubsidizedyield does not reflect fee waivers.
IMPORTANT INFORMATION
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 will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. 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 high yield, lower-rated debt securities, sometimes called junk bonds, and may involve greater risks than higher-rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. 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. The Fund may also invest in convertible securities and senior loans, which are subject to increased credit and liquidity risks. These factors can affect Fund performance.
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.
Class A Exceptas noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).
Class A Sharespurchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.
With Sales Charge- Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.
Without Sales Charge- Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.
Returns shown at less than a year reflectaggregate 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 Fund changed its investment strategy on 01/01/1982. Performance is calculated from this date. In addition, the Fund amended it s strategy on December 14, 2007. The historical performance shown of the Fund prior to December 14, 2007, reflects periods when the Fund pursued its previous investment strategy. The change in investment approach may affect the Fund’s performance in the future.
The Bloomberg U.S. Credit Bond Index is the U.S. Credit component of the U.S. Government/Credit index. The index includes publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity, and quality requirements. To qualify, bonds must be SEC-registered. The index includes both corporate and non-corporate sectors. The corporate sectors are Industrial, Utility, and Finance, which include both U.S. and non-U.S. corporations. The non-corporate sectors are Sovereign, Supranational, Foreign Agency, and Foreign Local Government. All returns are market value-weighted inclusive of accrued interest.
Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.
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 AverageExpense Ratioreflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.
TheFund's portfolio is actively managedand portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.
Dividends and Capital Gains:The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.
The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.
Select funds to run a Morningstar Hypothetical Report.
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