LDLAX | Short Duration Income Fund Class C | Lord Abbett

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Short Duration Income Fund

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Summary

Summary

What is the Short Duration Income Fund?

The Fund seeks to deliver a high level of current income consistent with the preservation of capital by investing in a variety of short maturity debt securities including, corporate bonds, U.S. government securities, and mortgage- and other asset-backed debt securities.
 

EXPERIENCED, TENURED TEAM

Managed through collaboration among 70+ investment professionals in portfolio management, credit research, and trading.

FLEXIBLE APPROACH

Pursues an agile, multi-sector approach designed to provide a higher yield than a typical short duration strategy, and a lower duration than a traditional core bond strategy.

STRONG PERFORMANCE

Has offered a track record of solid performance in many market environments. 

Yield

Average Yield to Maturity as of 09/30/2024

5.08%

30-Day Standardized Yield 1 as of 09/30/2024  

4.07%

Fund Basicsas of 09/30/2024

Total Net Assets
$42.70 B
Inception Date
07/15/1996
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.21%
Fund Net Expense Ratio
1.21%
Number of Holdings
1161
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 1.21%

Net 1.21%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/15/1996
w/o sales charge 3.95% 6.59% 0.88% 1.16% 1.51% 3.20%
Lipper Category Avg. Short Investment Grade Debt Funds - - - - - -
ICE BofA 1-3 Year U.S. Corporate Index 4.76% 7.71% 1.98% 2.14% 2.23% 3.98%
w/ sales charge 2.95% 5.59% 0.88% 1.16% 1.51% 3.20%

Fund Expense Ratio :

Gross 1.21%

Net 1.21%

Fund Expense Ratio :

Gross 1.21%

Net 1.21%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/15/1996
w/o sales charge 4.37% 7.12% 0.97% 1.29% 1.55% 3.22%
Lipper Category Avg. Short Investment Grade Debt Funds 5.05% 8.20% 1.91% 2.13% 1.96% -
ICE BofA 1-3 Year U.S. Corporate Index 5.22% 8.43% 2.02% 2.32% 2.30% 4.01%
w/ sales charge 3.37% 6.12% 0.97% 1.29% 1.55% 3.22%

Fund Expense Ratio :

Gross 1.21%

Net 1.21%

Type Assets
Investment Grade Corporate
ABS
CLO
High Yield Corporate
CMBS
MBS
Bank Loans
U.S. Government Related
Sovereign
Other
Cash
Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years

Credit Quality Distribution as of 09/30/2024 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

INVESTMENT TEAM

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

Partner, Portfolio Manager

26 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner, Portfolio Manager

30 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

23 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

33 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

16 Years of Industry Experience

Harris Trifon
Harris Trifon

Partner, Portfolio Manager

24 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Partner, Portfolio Manager

21 Years of Industry Experience

Supported By 72 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 09/30/2024

5.08%

30-Day Standardized Yield 1 as of 09/30/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 4.07% 4.07%

Fund Expense Ratio :

Gross 1.21%

Net 1.21%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/15/1996
w/o sales charge 3.95% 6.59% 0.88% 1.16% 1.51% 3.20%
Lipper Category Avg. Short Investment Grade Debt Funds - - - - - -
ICE BofA 1-3 Year U.S. Corporate Index 4.76% 7.71% 1.98% 2.14% 2.23% 3.98%
w/ sales charge 2.95% 5.59% 0.88% 1.16% 1.51% 3.20%

Fund Expense Ratio :

Gross 1.21%

Net 1.21%

Fund Expense Ratio :

Gross 1.21%

Net 1.21%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/15/1996
w/o sales charge 4.37% 7.12% 0.97% 1.29% 1.55% 3.22%
Lipper Category Avg. Short Investment Grade Debt Funds 5.05% 8.20% 1.91% 2.13% 1.96% -
ICE BofA 1-3 Year U.S. Corporate Index 5.22% 8.43% 2.02% 2.32% 2.30% 4.01%
w/ sales charge 3.37% 6.12% 0.97% 1.29% 1.55% 3.22%

Fund Expense Ratio :

Gross 1.21%

Net 1.21%

Year Fund Returns ICE BofA 1-3 Year U.S. Corporate Index
2023 4.53% 5.69%
2022 -5.32% -4.00%
2021 0.25% -0.01%
2020 2.28% 4.16%
2019 4.76% 5.43%
2018 0.61% 1.62%
2017 1.89% 1.91%
2016 3.12% 2.39%
2015 -0.19% 1.01%
2014 1.08% 1.19%
2013 0.94% -
2012 5.90% -
2011 2.42% -
2010 5.54% -
2009 15.94% -
2008 -1.78% -
2007 5.20% -
2006 2.88% -
2005 0.29% -
2004 0.81% -
Year Q1 Q2 Q3 Q4
2024 0.81% 1.10% 2.40% -
2023 1.41% -0.32% 0.75% 2.63%
2022 -2.67% -2.18% -1.36% 0.83%
2021 0.21% 0.44% -0.07% -0.33%
2020 -5.53% 5.43% 1.25% 1.43%
2019 1.77% 1.50% 0.74% 0.67%
2018 -0.41% 0.35% 0.35% 0.33%
2017 0.79% 0.54% 0.52% 0.03%
2016 1.08% 1.52% 0.83% -0.34%
2015 0.81% 0.13% -0.55% -0.57%
2014 0.74% 0.98% -0.31% -0.33%
2013 0.52% -0.98% 0.77% 0.63%
2012 2.24% 0.63% 1.90% 1.01%
2011 0.89% 0.91% -1.01% 1.63%
2010 2.03% 0.89% 2.39% 0.14%
2009 3.84% 5.30% 4.43% 1.53%
2008 0.96% 0.75% -2.00% -1.47%
2007 1.32% -0.07% 1.83% 2.03%
2006 -0.11% 0.35% 2.02% 0.60%
2005 -0.62% 1.21% -0.62% 0.34%
2004 1.48% -2.16% 1.50% 0.04%
2003 0.60% 0.65% -0.25% -0.15%
2002 0.15% 2.38% 2.99% 0.91%
2001 2.10% 0.49% 3.28% -0.61%
2000 1.37% 1.83% 2.25% 2.52%
1999 0.64% 0.20% 0.71% 0.22%
1998 0.90% 1.57% 2.94% -0.23%
1997 -0.18% 2.14% 2.13% 1.66%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
Investment Grade Corporate
ABS
CLO
High Yield Corporate
CMBS
MBS
Bank Loans
U.S. Government Related
Sovereign
Other
Cash
Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years

Credit Quality Distribution as of 09/30/2024

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Portfolio Positioning as of 9/30/2024

  • We have meaningfully reduced our allocation to the asset class in recent years and are comfortable with our current commercial real estate portfolio. While we find compelling value within the asset class, we remain cautious given the wide range of possible outcomes in segments of the market.  
  • Given technical pressures, we believe agency RMBS show attractive relative value in the current environment and significantly increased the portfolio’s exposure to this sector over the quarter. We have been focused on 15-year mortgages with higher coupons and shorter weighted average lives consistent with our short duration mandate.   
  • Within Financials in investent grade corporates, we continue to favor diversified financial institutions with strong management teams and business models less dependent on deposits. Over the quarter, we decreased the portfolio’s exposure to the sector, taking profits on positions that have performed well.
  • At points throughout the quarter, including during the volatility in early August, we opportunistically added to short high yield bonds at wider spreads.

Portfolio Details as of 09/30/2024

Total Net Assets
$42.70 B
Average Effective Duration
1.85 Years
Average Life
2.25 Years
Average Maturity
2.26 Years
Number of Issues
1161
Average Yield to Maturity
5.08%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 11/04/2024
$0.14047
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 10/31/2024 $0.01411 $3.89
Daily Daily 09/30/2024 $0.01423 $3.92
Daily Daily 08/31/2024 $0.01419 $3.91
Daily Daily 07/31/2024 $0.01422 $3.89
Daily Daily 06/30/2024 $0.01425 $3.87
Daily Daily 05/31/2024 $0.01419 $3.86
Daily Daily 04/30/2024 $0.01404 $3.85
Daily Daily 03/31/2024 $0.01413 $3.87
Daily Daily 02/29/2024 $0.01310 $3.87
Daily Daily 01/31/2024 $0.01401 $3.89

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 11/30/2024
Daily Daily 12/31/2024

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/17/2013 12/18/2013 $0.0056 $0.0005 $0.0061 $4.59

Fees & Expenses

Fees & Expenses

Expense Ratioas of 09/30/2024

Fund Gross Expense Ratio 1.21%
Fund Net Expense Ratio 1.21%
Adjusted Expense Ratio -

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Semi-Annual Tailored Shareholder Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Fund Story
Publish Date:11/03/2015
* includes items 7-11 of form N-CSR as required, if any.

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