THE LORD ABBETT FAMILY OF FUNDS
1
Supplement date
d
January 13
,
202
5
to the Prospectuses
Effective
January 13, 2025
:
The following
replaces, in its entirety, the
section
titled
“
Appendix A:
Intermediary
-
Specific Sales Charge Policies and Waivers
---
STIFEL, NICOLAUS & COMPANY, Incorporated and its broker
-
dealer
affiliates (“Stifel”)
”
in each Fund’s prospectus
:
STIFEL
Effective
January 13, 2025
,
shareholders purchasing or holding
F
und
shares,
including existing
F
und
shareholders, through a Stifel or
affiliated platform that
provides trade execution, clearance, and/or custody services, will be eligible for the
following sales charge load waivers (including front
-
end sales charge waivers and
contingent deferred, or back
-
end, (CDSC) sales charge waivers)
and discounts,
which may differ from those disclosed elsewhere in this prospectus or the Fund’s
SAI.
CLASS A SHARES
As described elsewhere in this prospectus, Stifel may receive compensation out of
the front
-
end sales charge if you purchase Class A
shares through Stifel.
Rights of accumulation
Rights of accumulation (ROA) that entitle shareholders to breakpoint discounts on
front
-
end sales charges will be calculated by Stifel based on the aggregated holding
of eligible assets in the
Lord Abbett Fam
ily of Funds
h
eld by accounts within the
purchaser’s household at Stifel. Ineligible assets include class A Money Market
Funds not assessed a sales charge.
Lord Abbett Family of Funds
assets not held at
Stifel may be included in the calculation of ROA only
if the shareholder notifies his
or her financial advisor about such assets.
The employer maintaining a SEP IRA plan and/or SIMPLE IRA plan may elect to
establish or change ROA for the IRA accounts associated with the plan to a plan
-
level grouping as oppo
sed to including all share classes at a shareholder or pricing
group level.
1
This supplement does not apply to the followin
g Funds:
Lord Abbett Credit Opportunities Fund,
Lord Abbett Flexible
Income Fund, Lord Abbett Floating Rate High Income Fund, Lord Abbett Municipal Opportunities Fund,
Lord Abbett
Special Situations Income Fund,
Lord Abbett U.S. Government & Government Spo
nsored Enterprises Money Market
Fund
,
any Funds within Lord Abbett Series Fund
, Lord Abbett Diversification Share
s
: Enhanced Municipal Yield
Completion Fund, Lord Abbett Diversification Share
s
: Core Completion Fund, Lord Abbett Diversification Share
s
: Core
Plus Completion Fund, and Lord Abbett Diversification Share
s
: Short Duration Completion Fund.
Front
-
end sales charge waivers on Class A shares available at Stifel
Sales charges may be waived for the following shareholders and in the following
situations:
•
Class C shares that have been held for more than seven (7) years may be
converted to Class A shares or other front
-
end share class(es) of the same
F
und
pursuant to Stifel’s policies and procedures. To the extent that this
prospectus elsewhere provides for
a waiver with respect to the exchange or
conversion of such shares following a shorter holding period, those
provisions shall continue to apply.
•
Shares purchased by employees and registered representatives of Stifel or
its affiliates and their family memb
ers as designated by Stifel.
•
Shares purchased in a Stifel fee
-
based advisory program, often referred to
as a “wrap” program.
•
Shares purchased through reinvestment of capital gains distributions and
dividend reinvestment when purchasing shares of the same
or other
F
und
s
within the
Lord Abbett Family of Funds
.
•
Shares purchased from the proceeds of redeemed shares of
the same
Lord
Abbett Family of Funds
so long as the proceeds are from the sale of shares
from an account with the same owner/beneficiary within 90 days of the
purchase. For the absence of doubt, automated transactions (i.e. systematic
purchases, including salary deferral transactions and wit
hdrawals) and
purchases made after shares are sold to cover Stifel
’s
account maintenance
fees are not eligible for rights of reinstatement.
•
Shares from rollovers into Stifel from retirement plans to IRAs.
•
Shares exchanged into Class A shares from another
share class so long as
the exchange is into the same
F
und
and was initiated at the direction of
Stifel. Stifel is responsible for any remaining CDSC due to the fund
company, if applicable. Any future purchases are subject to the applicable
sales charge as
disclosed in this prospectus.
•
Purchases of Class 529
-
A shares through a rollover from another 529 plan.
•
Purchases of Class 529
-
A shares made for reinvestment of refunded
amounts.
•
Employer
-
sponsored retirement plans (e.g., 401(k) plans, 457 plans,
emplo
yer
-
sponsored 403(b) plans, profit sharing and money purchase
pension plans and defined benefit plans). For purposes of this provision,
employer sponsored retirement plans do not include SEP IRAs, Simple
IRAs or SAR
-
SEPs.
Contingent Deferred Sales Charges
Waivers on Class A and C Shares
•
Death or disability of the shareholder or, in the case of 529 plans, the
account beneficiary.
•
Shares sold as part of a systematic withdrawal plan not to exceed 12%
annually.
•
Return of excess contributions from an IRA
Account.
•
Shares sold as part of a required minimum distribution for IRA and
retirement accounts due to the shareholder reaching the qualified age based
on applicable IRS regulations.
•
Shares acquired through a right of reinstatement.
•
Shares sold to pay S
tifel fees or costs in such cases where the transaction is
initiated by Stifel.
•
Shares exchanged or sold in a Stifel fee
-
based program.
Share Class Conversions in Advisory Accounts
•
Stifel continually looks to provide our clients with the lowest cost
share
class available based on account type. Stifel reserves the right to convert
shares to the lowest cost share class available at Stifel upon transfer of
shares into an advisory program.
Capitalized terms used in this Supplement shall, unless
otherwise defined herein,
have the same meaning as given in the Prospectuses.
Please retain this document for your future reference.
Lord Abbett Trust I
PROSPECTUS
DECEMBER 1, 2024
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A....................
CFBAX
I .....................
CFLIX
R5 .................
CFBTX
C ...................
CFBCX
R2 .................
N/A
R6 .................
CFBUX
LORD ABBETT
CLIMATE FOCUSED BOND
FUND
F....................
CFLFX
R3 .................
CFLQX
F3..................
CFLNX
R4 .................
CFBRX
A....................
LGRAX
I .....................
LGRYX
R5 .................
IGRSX
C ...................
IGRCX
R2 .................
N/A
R6 .................
LGRUX
LORD ABBETT
INVESTMENT GRADE
FLOATING RATE FUND
F....................
LGRFX
R3 .................
N/A
F3..................
IGRNX
R4 .................
N/A
A....................
LSYAX
I .....................
LSYIX
R5 .................
LSYTX
C ...................
LSYCX
R2 .................
N/A
R6 .................
LSYUX
LORD ABBETT
SHORT DURATION HIGH
YIELD FUND
F....................
LSYFX
R3 .................
LSYQX
F3..................
LSYNX
R4 .................
LSYSX
The U.S. Securities and Exchange Commission has not approved or disapproved of these
securities or determined whether this prospectus is accurate or complete. Any representation
to the contrary is a criminal offense.
INVESTMENT PRODUCTS: NOT FDIC INSURED–NO BANK GUARANTEE–MAY LOSE VALUE
TABLE OF CONTENTS
FUND SUMMARY
Climate Focused Bond Fund
2
Investment Grade Floating Rate Fund
15
Short Duration High Yield Fund
25
Tax Information
37
Payments to Broker-Dealers and Other Financial Intermediaries
37
MORE INFORMATION ABOUT THE FUNDS
Investment Objectives
38
Principal Investment Strategies
38
Principal Risks
49
Additional Information About Investment and Operational Risks
64
Disclosure of Portfolio Holdings
70
Management and Organization of the Fund
70
INFORMATION FOR MANAGING YOUR FUND ACCOUNT
Choosing a Share Class
73
Sales Charges
81
Sales Charge Reductions and Waivers
82
Financial Intermediary Compensation
87
Purchases
92
Exchanges
94
Redemptions
95
Account Services and Policies
98
Distributions and Taxes
106
FINANCIAL INFORMATION
Climate Focused Bond Fund
109
Investment Grade Floating Rate Fund
113
Short Duration High Yield Fund
115
APPENDIX A
Intermediary-Specific Sales Charge
Reductions and Waivers
A-1