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* includes items 7-11 of form N-CSR as required, if any.
of 209
Current View
STATEMENT OF ADDITIONAL INFORMATION
APRIL 1, 2025
AS SUPPLEMENTED TO DATE
LORD ABBETT INVESTMENT TRUST
Lord Abbett Multi-Asset Balanced
Opportunity Fund
Lord Abbett Core Fixed Income Fund
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A
LABFX
R2
BLAQX
A
LCRAX
R2
LCRQX
C
BFLAX
R3
BLARX
C
LCRCX
R3
LCRRX
F
BLAFX
R4
BLASX
F
LCRFX
R4
LCRSX
F3
LOBFX
R5
BLATX
F3
LCROX
R5
LCRTX
I
LABYX
R6
BLAVX
I
LCRYX
R6
LCRVX
P
LABPX
P
N/A
Lord Abbett Multi-Asset Income Fund
Lord Abbett Core Plus Bond Fund
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A
ISFAX
R2
LIGQX
A
LAPLX
R2
N/A
C
ISFCX
R3
LIXRX
C
LAPCX
R3
LAPQX
F
LIGFX
R4
LIXSX
F
LPLFX
R4
LAPUX
F3
ISFOX
R5
LIXTX
F3
LOPLX
R5
LAPVX
I
ISFYX
R6
LIXVX
I
LAPIX
R6
LAPWX
P
N/A
Lord Abbett Convertible Fund
Lord Abbett Floating Rate Fund
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A
LACFX
R2
LBCQX
A
LFRAX
R2
LFRRX
C
LACCX
R3
LCFRX
C
LARCX
R3
LRRRX
F
LBFFX
R4
LCFSX
F
LFRFX
R4
LRRKX
F3
LOCFX
R5
LCFTX
F3
LFROX
R5
LRRTX
I
LCFYX
R6
LCFVX
I
LFRIX
R6
LRRVX
P
LCFPX
Lord Abbett High Yield Fund
Lord Abbett Short Duration Income Fund
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A
LHYAX
R2
LHYQX
A
LALDX
R2
LDLQX
C
LHYCX
R3
LHYRX
C
LDLAX
R3
LDLRX
F
LHYFX
R4
LHYSX
F
LDLFX
R4
LDLKX
F3
LHYOX
R5
LHYTX
F3
LOLDX
R5
LDLTX
I
LAHYX
R6
LHYVX
I
LLDYX
R6
LDLVX
P
LHYPX
P
N/A
Lord Abbett Income Fund
Lord Abbett Total Return Fund
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A
LAGVX
R2
LAUQX
A
LTRAX
R2
LTRQX
C
LAUSX
R3
LAURX
C
LTRCX
R3
LTRRX
F
LAUFX
R4
LAUKX
F
LTRFX
R4
LTRKX
F3
LOGVX
R5
LAUTX
F3
LTROX
R5
LTRTX
I
LAUYX
R6
LAUVX
I
LTRYX
R6
LTRHX
P
N/A
P
LTRPX
Lord Abbett Inflation Focused Fund
Lord Abbett Ultra Short Bond Fund
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
CLASS
TICKER
A
LIFAX
R2
LIFQX
A
LUBAX
I
LUBYX
C
LIFCX
R3
LIFRX
A1
LUSNX
R5
LUBVX
F
LIFFX
R4
LIFKX
F
LUBFX
R6
LUBWX
F3
LIFOX
R5
LIFTX
F3
LUBOX
I
LIFIX
R6
LIFVX
Lord Abbett Short Duration Core Bond
Fund
CLASS
TICKER
CLASS
TICKER
A
LDCAX
R2
N/A
C
LDCCX
R3
LDCRX
F
LDCFX
R4
LSCSX
F3
LSCOX
R5
LSCUX
I
LSCIX
R6
LDCVX
This SAI is not a prospectus. A prospectus may be obtained from your financial intermediary or from the
Distributor at 30 Hudson Street, Jersey City, NJ 07302-4804. This SAI is divided into two Parts - Part I
and Part II. Part I contains information that is particular to the Funds offered in this SAI, and should be
read in conjunction with the prospectus for the Funds offered in this SAI, dated April 1, 2025, as
supplemented from time to time. Part I includes information about the Funds, including investment
policies, management fees paid by the Funds, and information about other fees applicable to and
services provided to the Funds. Part II contains additional information that more generally applies to the
Lord Abbett Funds.
Each Fund’s
audited financial statements are incorporated into this SAI by reference to the Funds’ most
recent Form N-CSR. The Funds’ annual and semiannual reports to shareholders and Form N-CSR are
available without charge, upon request by calling 888-522-2388. In addition, you can make inquiries
through your financial intermediary.
PART I
TABLE OF CONTENTS
PAGE
1.
GLOSSARY
1-1
2.
FUND INFORMATION
2-1
3.
INVESTMENT POLICIES
3-1
4.
FUND INVESTMENTS
4-1
5.
BOARD MEMBERS
5-1
6.
INVESTMENT ADVISORY AND OTHER SERVICES, FEES, AND EXPENSES
6-1
7.
PORTFOLIO MANAGER INFORMATION
7-1
8.
SECURITIES LENDING
8-1
9.
CONTROL PERSONS AND PRINCIPAL SHAREHOLDERS
9-1
10.
FINANCIAL STATEMENTS
10-1
Part I
1-1
1.
GLOSSARY
Lord Abbett Investment Trust is comprised of the following Funds:
Lord Abbett Multi-Asset Balanced Opportunity Fund:
Multi-Asset Balanced Opportunity Fund
Lord Abbett Multi-Asset Income Fund:
Multi-Asset Income Fund
Lord Abbett Convertible Fund:
Convertible Fund
Lord Abbett Core Fixed Income Fund:
Core Fixed Income Fund
Lord Abbett Core Plus Bond Fund:
Core Plus Bond Fund
Lord Abbett Floating Rate Fund:
Floating Rate Fund
Lord Abbett High Yield Fund:
High Yield Fund
Lord Abbett Income Fund:
Income Fund
Lord Abbett Inflation Focused Fund:
Inflation Focused Fund
Lord Abbett Short Duration Core Bond Fund:
Short Duration Core Bond Fund
Lord Abbett Short Duration Income Fund:
Short Duration Income Fund
Lord Abbett Total Return Fund:
Total Return Fund
Lord Abbett Ultra Short Bond Fund:
Ultra Short Bond Fund
Lord Abbett Funds
are comprised of the following management investment companies:
Lord Abbett Affiliated Fund, Inc.:
Affiliated Fund
Lord Abbett Bond Debenture Fund, Inc.:
Bond Debenture Fund
Lord Abbett Developing Growth Fund, Inc.:
Developing Growth Fund
Lord Abbett Global Fund, Inc.:
Global Fund
Lord Abbett Investment Trust:
Investment Trust
Lord Abbett Mid Cap Stock Fund, Inc.:
Mid Cap Stock Fund
Lord Abbett Municipal Income Fund, Inc.:
Municipal Income Fund
Lord Abbett Research Fund, Inc.:
Research Fund
Lord Abbett Securities Trust:
Securities Trust
Lord Abbett Series Fund, Inc.:
Series Fund
Lord Abbett Trust I:
Trust I
Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc.:
Money Market Fund
Part I
1-2
1933 Act
Securities Act of 1933, as amended
1940 Act
Investment Company Act of 1940, as amended
Board
Board of Trustees
Board Member(s)
Trustee(s) of the Board
CDSC
Contingent deferred sales charge
CEA
Commodity Exchange Act, as amended
CPO
Commodity pool operator
Distributor
Lord Abbett Distributor LLC
Fund(s)
Each separate investment portfolio of a Registrant or, if a
Registrant has only a single investment portfolio, the Registrant
Fund(s)-of-Funds
Multi-Asset Balanced Opportunity Fund and Multi-Asset Income
Fund
Independent Board Member(s)
Trustee(s) of the Board who are not “interested persons” as
defined in the 1940 Act, of each Fund
Interested Board Member(s)
Trustee(s) of the Board who are not Independent Board
Members
Lord Abbett
Lord, Abbett & Co. LLC
Moody’s
Moody’s Investors Service, Inc.
NYSE
New York Stock Exchange
Registrant
Investment Trust
Rule 12b-1 Plan
Distribution and/or Shareholder Service Plan adopted under
Rule
12b-1 (under the 1940 Act)
S&P
S&P Global Ratings
SAI
Statement of Additional Information
SEC
United States Securities and Exchange Commission
Underlying Funds
Affiliated mutual funds managed by Lord Abbett
Part I
2-1
2.
FUND INFORMATION
The Registrant is an open-end management investment company registered under the 1940 Act. All
Funds are diversified within the meaning of the 1940 Act. The tables below set forth information about
the Registrant’s organization.
Registrant Organization
Registrant
Form of Organization
Date of
Organization
Number
of Funds
Shares
Available for
Issuance
Investment Trust
Delaware statutory trust
August 16, 1993
13
Unlimited
Part I
3-1
3.
INVESTMENT POLICIES
Fundamental Investment Restrictions.
Each Fund’s investment objective cannot be changed without
the approval of a “majority of the Fund’s outstanding shares,”
1
except for the investment objective of Short
Duration Core Bond Fund, which may be changed by the Board without shareholder approval. Each Fund
also is subject to the following fundamental investment restrictions that cannot be changed without the
approval of a majority of each Fund’s outstanding shares.
Each Fund may not:
1. borrow money, except that (i) it may borrow from banks (as defined in the 1940 Act)
2
in amounts
up to
33⅓%
of its total assets (including the amount borrowed), (ii) it may borrow up to an
additional 5% of its total assets for temporary purposes, (iii) it may obtain such short-term credit
as may be necessary for the clearance of purchases and sales of portfolio securities, (iv) it may
purchase securities on margin to the extent permitted by applicable law,
3
and (v) it may borrow
money from other Lord Abbett Funds to the extent permitted by applicable law and any exemptive
relief obtained by the Fund;
2. pledge its assets (other than to secure borrowings, or to the extent permitted by each Fund’s
investment policies as permitted by applicable law);
4
3. engage in the underwriting of securities, except pursuant to a merger or acquisition or to the
extent that, in connection with the disposition of its portfolio securities, it may be deemed to be an
underwriter under federal securities laws;
4. with respect to Floating Rate Fund, make loans, except that the Fund may (i) lend portfolio
securities in accordance with the Fund’s investment policies, (ii) enter into repurchase
agreements, (iii) purchase all or a portion of an issue of publicly distributed debt securities, bank
loan interests (including novations, assignments, and participations), bank certificates of deposit,
acceptances, debentures, or other securities, whether or not the purchase is made upon the
original issuance of the securities, (iv) participate in a credit facility whereby the Fund may directly
lend to and borrow money from other affiliated funds to the extent permitted under the 1940 Act
or an exemption therefrom, and (v) make loans in any other manner consistent with applicable
law, as amended and interpreted or modified from time to time by any regulatory authority having
jurisdiction;
with respect to Inflation Focused Fund, make loans to other persons, except that the acquisition
of bonds, debentures, or other corporate debt securities and investments in government
obligations, commercial paper, pass-through instruments, certificates of deposit, bankers’
acceptances, repurchase agreements, or any similar instruments shall not be subject to this
limitation, and except further that the Fund may lend money to other Lord Abbett Funds to the
extent permitted by applicable law and any exemptive relief obtained by the Fund;
1
A “majority of the Fund’s outstanding shares” means the vote of the lesser of (1) 67% or more of the voting securities present at a
shareholder meeting, provided that more than 50% of the outstanding voting securities of the Fund are present at the meeting or
represented by proxy, or (2) more than 50% of the outstanding voting securities of the Fund regardless of whether such shareholders
are present at the meeting (or represented by proxy).
2
The term “bank” is defined in Section 2(a)(5) of the 1940 Act.
3
SEC staff guidance currently prohibits a Fund from purchasing any security on margin, except such short-term credits as are
necessary for the clearance of transactions.
4
For the purpose of this restriction the deposit of assets in a segregated account with a Fund’s custodian in connection with any of the
Fund’s investment transactions is not considered to be a pledge of the Fund’s assets.
Part I
3-2
with respect to each Fund except Floating Rate Fund and Inflation Focused Fund, make loans to
other persons, except that (i) the acquisition of bonds, debentures, or other corporate debt
securities and investments in government obligations, commercial paper, pass-through
instruments, certificates of deposit, bankers’ acceptances, repurchase agreements, or any similar
instruments shall not be subject to this limitation, (ii) the Fund may lend its portfolio securities,
provided that the lending of portfolio securities may be made only in accordance with applicable
law, and (iii) the Fund may lend money to other Lord Abbett Funds to the extent permitted by
applicable law and any exemptive relief obtained by the Fund;
5. buy or sell real estate (except that each Fund may invest in securities directly or indirectly
secured by real estate or interests therein or issued by companies, which invest in real estate or
interests therein), or commodities or commodity contracts (except to the extent each Fund may
do so in accordance with applicable law and without registering as a CPO under the CEA as, for
example, with futures contracts);
6. with respect to 75% of each Fund’s gross assets, buy securities of one issuer representing more
than (i) 5% of each Fund’s gross assets, except securities issued or guaranteed by the U.S.
Government, its agencies or instrumentalities, and for each of the Fund-of-Funds, securities
issued by an investment company or (ii) 10% of the voting securities of such issuer;
5
7. with respect to Convertible Fund, Floating Rate Fund, High Yield Fund, Income Fund, Inflation
Focused Fund, Multi-Asset Balanced Opportunity Fund, Multi-Asset Income Fund, and Short
Duration Income Fund, invest more than 25% of its assets, taken at market value, in the
securities of issuers in any particular industry excluding securities of the U.S. Government, its
agencies and instrumentalities;
8. with respect to Income Fund, invest more than 25% of its assets, taken at market value, in the
securities of issuers in any particular industry;
9. with respect to Core Fixed Income Fund, Core Plus Bond Fund, Short Duration Core Bond Fund,
and Total Return Fund, invest more than 25% of its assets, taken at market value, in the
securities of issuers in any particular industry (excluding securities of the U.S. Government, its
agencies and instrumentalities, and mortgage-backed securities as described under “Mortgage-
Related and other Asset-Backed Securities” below); or
10. with respect to Ultra Short Bond Fund, invest more than 25% of its assets, taken at market value,
in the securities of issuers in any particular industry (excluding securities of the U.S. Government,
its agencies and instrumentalities, and the financial services industry); or
11. issue senior securities to the extent such issuance would violate applicable law.
6
5
For purposes of this fundamental investment restriction, the term “gross assets” means “total assets.”
6
Current federal securities laws prohibit each Fund from issuing senior securities (which generally are defined as securities
representing indebtedness), except that the Fund may borrow money from banks in amounts of up to
33⅓%
of its total assets
(including the amount borrowed).
Part I
3-3
Compliance with these fundamental investment restrictions will be determined at the time of the purchase
or sale of the security, except in the case of the first fundamental investment restriction, with which the
Funds must comply on a continuous basis. For purposes of these restrictions, the Funds, with the
exception of Ultra Short Bond Fund, do not consider mortgage-related securities, including commercial
mortgage-backed securities and other privately issued mortgage-related securities, as representing
interests in any particular industry or group of industries.
Non-Fundamental Investment Restriction
. Each Fund also is subject to the following non-fundamental
investment restriction that may be changed by the Registrant’s Board without shareholder approval.
Each Fund may not invest in securities issued by other investment companies as defined in the 1940 Act,
except to the extent permitted by applicable law. A Fund may not, however, rely on Sections 12(d)(1)(F)
and 12(d)(1)(G) of the 1940 Act.
Part I
4-1
4.
FUND INVESTMENTS
The following table identifies the investment types and techniques that Lord Abbett may use in managing
the Funds. A more detailed description of these investment types and techniques, along with the risks
associated with each, is contained in the “Additional Information on Portfolio Investments, Risks, and
Techniques” section of Part II. A Fund may use any or all of these investment types and techniques
indicated below at any one time, and the fact that a Fund may use a particular investment type or
technique does not mean that it will be used. A Fund’s transactions in a particular investment type or use
of a particular technique is subject to the limitations imposed by the Fund’s investment objective, policies,
and restrictions described in the Funds’ prospectus and in this SAI, as well as the federal securities laws.
Each Fund may make other types of investments provided the investments are consistent with the Fund's
investment objective and policies and the Fund's investment restrictions do not expressly prohibit it from
doing so.
In addition, a Fund may receive instruments or investments not contemplated herein through
the conversion or exchange of a permissible investment or as a result of the reorganization or bankruptcy
of the issuer of an otherwise permissible investment, and the Fund may hold or dispose of these
instruments or investments at its discretion.
Please refer to the applicable Fund’s prospectus and the fundamental and non-fundamental investment
restrictions in the “Investment Policies” section of Part I for more information on any applicable limitations.
MULTI-ASSET FUNDS
Investment Types and Techniques
Multi-Asset
Balanced
Opportunity
Fund
Multi-
Asset
Income
Fund
Cash Balance Management Practices
X
X
Convertible Securities
X
X
Synthetic Convertible Securities
X
X
Contingent Convertible Securities
X
X
Debt Securities
X
X
High-Yield or Lower-Rated Debt Securities
X
X
Defaulted Bonds and Distressed Debt
X
X
Depositary Receipts
X
X
Derivatives
X
X
Combined Transactions
X
X
Commodity-Related Investments
X
X
Credit Derivatives
X
X
Forward Contracts
X
X
Futures Contracts
X
X
Options Contracts
X
X
Participation Notes
X
X
Swap Agreements
X
X
Equity Securities
X
X
Common Stocks
X
X
Initial Public Offerings
X
X
Master Limited Partnerships
X
X
Preferred Stocks
X
X
Warrants and Rights
X
X
Foreign Currency Transactions
X
X
Foreign Securities
X
X
Emerging Market Securities
X
X
Illiquid Securities
X
X
Part I
4-2
MULTI-ASSET FUNDS
Investment Types and Techniques
Multi-Asset
Balanced
Opportunity
Fund
Multi-
Asset
Income
Fund
Inflation-Indexed Securities
X
X
Investments in Other Investment Companies
X
X
Loans
X
X
Mortgage-Related and Asset-Backed Securities and Other
Collateralized Obligations
X
X
Municipal Bonds
X
X
Non-U.S. Government and Supranational Debt Securities
X
X
Real Estate Investment Trusts
X
X
Short Sales
X
X
Structured Notes and Other Hybrid Instruments
X
X
U.S. Government Securities
X
X
When-Issued or Forward Transactions
X
X
Zero Coupon, Deferred Interest, Pay-In-Kind, and Capital Appreciation
Bonds
X
X
FIXED INCOME FUNDS
Investment Types and Techniques
Convertible
Fund
Core
Fixed
Income
Fund
Core
Plus
Bond
Fund
Cash Balance Management Practices
X
X
X
Convertible Securities
X
X
X
Synthetic Convertible Securities
X
X
X
Contingent Convertible Securities
X
X
X
Debt Securities
X
X
X
High-Yield or Lower-Rated Debt Securities
X
X
X
Defaulted Bonds and Distressed Debt
X
Depositary Receipts
X
X
X
Derivatives
X
X
X
Combined Transactions
Commodity-Related Investments
Credit Derivatives
X
X
X
Forward Contracts
X
X
X
Futures Contracts
X
X
X
Options Contracts
X
X
X
Participation Notes
Swap Agreements
X
X
X
Equity Securities
X
X
Common Stocks
X
X
Initial Public Offerings
X
Master Limited Partnerships
Preferred Stocks
X
X
Warrants and Rights
X
X
Foreign Currency Transactions
X
X
X
Foreign Securities
X
X
X
Emerging Market Securities
X
X
X
Part I
4-3
FIXED INCOME FUNDS
Investment Types and Techniques
Convertible
Fund
Core
Fixed
Income
Fund
Core
Plus
Bond
Fund
Illiquid Securities
X
X
X
Inflation-Indexed Securities
X
X
X
Investments in Other Investment Companies
X
X
X
Loans
X
X
Mortgage-Related and Asset-Backed Securities and Other
Collateralized Obligations
X
X
Municipal Bonds
X
X
X
Non-U.S. Government and Supranational Debt Securities
X
X
Real Estate Investment Trusts
X
X
X
Short Sales
X
X
X
Structured Notes and Other Hybrid Instruments
X
X
X
U.S. Government Securities
X
X
X
When-Issued or Forward Transactions
X
X
X
Zero Coupon, Deferred Interest, Pay-In-Kind, and Capital
Appreciation Bonds
X
X
X
FIXED INCOME FUNDS
Investment Types and Techniques
Floating
Rate
Fund
High
Yield
Fund
Income
Fund
Inflation
Focused
Fund
Cash Balance Management Practices
X
X
X
X
Convertible Securities
X
X
X
X
Synthetic Convertible Securities
X
X
X
X
Contingent Convertible Securities
X
X
X
X
Debt Securities
X
X
X
X
High-Yield or Lower-Rated Debt Securities
X
X
X
X
Defaulted Bonds and Distressed Debt
X
X
X
X
Depositary Receipts
X
X
X
X
Derivatives
X
X
X
X
Combined Transactions
Commodity-Related Investments
X
Credit Derivatives
X
X
X
X
Forward Contracts
X
X
X
X
Futures Contracts
X
X
X
X
Options Contracts
X
X
X
X
Participation Notes
Swap Agreements
X
X
X
X
Equity Securities
X
X
X
X
Common Stocks
X
X
Initial Public Offerings
X
X
Master Limited Partnerships
Preferred Stocks
X
X
X
X
Warrants and Rights
X
X
X
Foreign Currency Transactions
X
X
X
X
Foreign Securities
X
X
X
X
Emerging Market Securities
X
X
X
X
Part I
4-4
FIXED INCOME FUNDS
Investment Types and Techniques
Floating
Rate
Fund
High
Yield
Fund
Income
Fund
Inflation
Focused
Fund
Illiquid Securities
X
X
X
X
Inflation-Indexed Securities
X
X
X
X
Investments in Other Investment Companies
X
X
X
X
Loans
X
X
X
X
Mortgage-Related and Asset-Backed Securities and
Other Collateralized Obligations
X
X
X
X
Municipal Bonds
X
X
X
X
Non-U.S. Government and Supranational Debt Securities
X
X
X
Real Estate Investment Trusts
X
X
X
X
Short Sales
X
X
X
X
Structured Notes and Other Hybrid Instruments
X
X
X
X
U.S. Government Securities
X
X
X
X
When-Issued or Forward Transactions
X
X
X
X
Zero Coupon, Deferred Interest, Pay-In-Kind, and Capital
Appreciation Bonds
X
X
X
X
FIXED INCOME FUNDS
Investment Types and Techniques
Short
Duration
Core
Bond
Fund
Short
Duration
Income
Fund
Total
Return
Fund
Ultra
Short
Bond
Fund
Cash Balance Management Practices
X
X
X
X
Convertible Securities
X
X
X
X
Synthetic Convertible Securities
X
X
X
X
Contingent Convertible Securities
X
X
X
X
Debt Securities
X
X
X
X
High-Yield or Lower-Rated Debt Securities
X*
X
X
X*
Defaulted Bonds and Distressed Debt
X
Depositary Receipts
X
X
X
Derivatives
X
X
X
X
Combined Transactions
Commodity-Related Investments
Credit Derivatives
X
X
X
X
Forward Contracts
X
X
X
X
Futures Contracts
X
X
X
X
Options Contracts
X
X
X
X
Participation Notes
Swap Agreements
X
X
X
X
Equity Securities
X
X
Common Stocks
X
Initial Public Offerings
Master Limited Partnerships
Preferred Stocks
X
X
Warrants and Rights
X
X
Foreign Currency Transactions
X
X
X
X
Foreign Securities
X
X
X
X
Part I
4-5
FIXED INCOME FUNDS
Investment Types and Techniques
Short
Duration
Core
Bond
Fund
Short
Duration
Income
Fund
Total
Return
Fund
Ultra
Short
Bond
Fund
Emerging Market Securities
X
X
X
X
Illiquid Securities
X
X
X
X
Inflation-Indexed Securities
X
X
X
X
Investments in Other Investment Companies
X
X
X
X
Loans
X
X
X
X
Mortgage-Related and Asset-Backed Securities and
Other Collateralized Obligations
X
X
X
X
Municipal Bonds
X
X
X
X
Non-U.S. Government and Supranational Debt Securities
X
X
X
X
Real Estate Investment Trusts
X
X
X
X
Short Sales
X
X
X
X
Structured Notes and Other Hybrid Instruments
X
X
X
X
U.S. Government Securities
X
X
X
X
When-Issued or Forward Transactions
X
X
X
X
Zero Coupon, Deferred Interest, Pay-In-Kind, and Capital
Appreciation Bonds
X
X
X
X
*Each of Short Duration Core Bond Fund and Ultra Short Bond Fund may at times hold below investment grade securities
(commonly referred to as “high-yield” or “junk” bonds) if it purchased securities that were considered investment grade at their
time of purchase and such securities subsequently are downgraded.
Related Additional Investment Restrictions
In addition to the principal investment strategies (and related restrictions) discussed in the Funds’
prospectus, each Fund may use other investment techniques in seeking to achieve its investment
objective, as set forth in the table above. The applicable investment restrictions associated with such
other investment techniques are set forth below. Please see ‘‘Additional Information on Portfolio
Investments, Risks, and Techniques’’ in Part II of the SAI for more information on these and the other
investment techniques that may be used by the Funds.
Borrowing Money.
Each Fund may borrow money to the extent permitted by its investment policies and
restrictions and applicable law. When a Fund borrows money or otherwise leverages its portfolio, the
value of an investment in the Fund may be more volatile and other investment risks will tend to be
compounded.
Each Fund may engage in other transactions that may have the effect of creating leverage in the Fund’s
portfolio, including, by way of example, derivatives transactions and reverse repurchase agreements. A
Fund will generally not treat derivative transactions as borrowings of money.
Direct Investments by Funds-of-Funds.
The Underlying Funds of each Fund-of-Funds are listed in
“Appendix B: Underlying Funds of the Funds-of-Funds” of the Fund-of-Fund’s prospectus. Please refer to
Appendix B and each Underlying Fund’s prospectus for information about the applicable investment
restrictions of the Underlying Funds.
Illiquid Securities.
Each Fund may invest up to 15% of its net assets in illiquid securities. An illiquid
security is a security that a Fund reasonably expects cannot be sold or disposed of in then-current market
conditions in seven calendar days or less without the sale or disposition significantly changing the market
value of the security. In determining the liquidity of an investment, a Fund may consider, among other
things, the relevant market, trading and investment specific considerations of the security, including
anticipated trading sizes.
Part I
5-1
5.
BOARD MEMBERS
The Board Members of the Registrant are also Board Members of each of the Lord Abbett Funds, which
collectively consist of 63 funds. For more information on the Board Members, please see the
“Management of the Funds” section of Part II.
Compensation
The following table sets forth the compensation accrued by the Registrant for the Independent Board
Members and the total compensation paid by all Lord Abbett Funds to the Independent Board Members,
including amounts payable but deferred at the option of each Independent Board Member. No Interested
Board Member or officer of the Lord Abbett Funds received any compensation from the Funds for acting
as a Board Member or officer. The Lord Abbett Funds currently do not offer a bonus, pension, profit-
sharing, or retirement plan.
Board Members
For the Fiscal Year Ended November
30, 2024 Aggregate Compensation
Accrued by the Registrant
1
Total Compensation Paid
by the Lord Abbett
Funds
2
Evelyn E. Guernsey
$379,001
$630,000
Julie A. Hill
3
43,214
0
Kathleen M. Lutito
288,849
470,000
Peter J. McNamara
4
N/A
N/A
James M. McTaggart
5
273,475
445,000
Charles O. Prince
288,849
470,000
Karla M. Rabusch
295,452
480,000
Lorin Patrick Taylor Radtke
258,100
420,000
Leah Song Richardson
258,100
420,000
Mark A. Schmid
262,722
420,000
James L.L. Tullis
5
275,108
420,000
1
Independent Board Members’ fees, including attendance fees for Board and committee meetings, are allocated among all Lord
Abbett Funds based on the net assets of each Fund. A portion of the fees payable by each Fund to its Independent Board
Members may be deferred at the option of a Board Member under an equity-based plan (the “deferred compensation plan”) that
deems the deferred amounts to be invested in shares of the Registrant for later distribution to the Board Members. The total
deferred amounts for Ms. Guernsey, Ms. Hill, Ms. Lutito, Mr. McTaggart, Mr. Prince, Ms. Rabusch, Mr. Radtke, Ms. Richardson,
Mr. Schmid, and Mr. Tullis attributable to the Registrant are $0, $8,077, $43,214, $107,150, $274,156, $0, $129,050, $136,015,
$0, and $16,692, respectively.
2
The second column shows total compensation, including the types of compensation described in the “For the Fiscal Year Ended
November 30, 2024 Aggregate Compensation Accrued by the Registrant” column, accrued by all Lord Abbett Funds for the
calendar year ended December 31, 2024, including fees of Independent Board Members that have been deferred.
3
Ms. Hill retired as a Trustee/Director of the Lord Abbett Funds effective December 31, 2023.
4
Mr. McNamara was appointed as a Trustee/Director of the Lord Abbett Funds effective January 1, 2025.
5
Mr. McTaggart and Mr. Tullis retired as Trustees/Directors of the Lord Abbett Funds effective December 31, 2024.
Part I
5-2
Fund Ownership
The following table sets forth certain information about the dollar range of equity securities beneficially
owned by each current Board Member in the Registrant and all other Lord Abbett Funds as of December
31, 2024. The amounts shown include deferred compensation (including any earnings) to the Board
Members deemed invested in Fund shares under the deferred compensation plan. The amounts
ultimately received by the Board Members under the deferred compensation plan will be directly linked to
the investment performance of the Lord Abbett Funds.
Dollar Range of Equity Securities
Board Members
Multi-Asset
Balanced
Opportunity Fund
Multi-Asset
Income Fund
Convertible Fund
Core Fixed
Income Fund
Independent Trustees
Evelyn E. Guernsey
$10,001 - $50,000
$1 - $10,000
$1 - $10,000
$1 - $10,000
Kathleen M. Lutito
$1 - $10,000
$1 - $10,000
Over $100,000
$1 - $10,000
Peter J. McNamara
1
N/A
N/A
N/A
N/A
Charles O. Prince
$1 - $10,000
$1 - $10,000
$1 - $10,000
$1 - $10,000
Karla M. Rabusch
$1 - $10,000
$1 - $10,000
Over $100,000
$1 - $10,000
Lorin Patrick Taylor
Radtke
None
None
None
None
Leah Song Richardson
None
None
None
None
Mark A. Schmid
$1 - $10,000
$1 - $10,000
$1 - $10,000
$1 - $10,000
Interested Trustee
Douglas B. Sieg
$10,001 - $50,000
None
None
None
Dollar Range of Equity Securities
Board Members
Core Plus
Bond Fund
Floating Rate
Fund
High Yield Fund
Income Fund
Independent Trustees
Evelyn E. Guernsey
$1 - $10,000
$10,001 -
$50,000
$10,001 - $50,000
$1 - $10,000
Kathleen M. Lutito
$1 - $10,000
$1 - $10,000
$1 - $10,000
$1 - $10,000
Peter J. McNamara
1
N/A
N/A
N/A
N/A
Charles O. Prince
$1 - $10,000
$1 - $10,000
$1 - $10,000
Over $100,000
Karla M. Rabusch
$1 - $10,000
Over $100,000
Over $100,000
Over $100,000
Lorin Patrick Taylor Radtke
None
None
None
None
Leah Song Richardson
None
None
None
Over $100,000
Mark A. Schmid
$1 - $10,000
$10,001 -
$50,000
$1 - $10,000
$1 - $10,000
Interested Trustee
Douglas B. Sieg
None
None
None
None
Part I
5-3
Dollar Range of Equity Securities
Board Members
Inflation Focused
Fund
Short
Duration
Core Bond
Fund
Short Duration
Income Fund
Total Return
Fund
Independent Trustees
Evelyn E. Guernsey
$1 - $10,000
$1 - $10,000
$50,001 - $100,000
$1 - $10,000
Kathleen M. Lutito
$1 - $10,000
$1 - $10,000
$10,001 - $50,000
$1 - $10,000
Peter J. McNamara
1
N/A
N/A
N/A
N/A
Charles O. Prince
$1 - $10,000
$1 - $10,000
$10,001 - $50,000
$1 - $10,000
Karla M. Rabusch
$1 - $10,000
$1 - $10,000
Over $100,000
$1 - $10,000
Lorin Patrick Taylor Radtke
None
None
None
None
Leah Song Richardson
None
None
None
None
Mark A. Schmid
$1 - $10,000
$1 - $10,000
Over $100,000
$1 - $10,000
Interested Trustee
Douglas B. Sieg
None
None
None
None
Dollar Range of Equity Securities
Board Members
Ultra Short Bond Fund
Aggregate Dollar Range of
Equity Securities in Lord
Abbett Funds
Independent Trustees
Evelyn E. Guernsey
$10,001 - $50,000
Over $100,000
Kathleen M. Lutito
Over $100,000
Over $100,000
Peter J. McNamara
1
N/A
N/A
Charles O. Prince
$1 - $10,000
Over $100,000
Karla M. Rabusch
$10,001 - $50,000
Over $100,000
Lorin Patrick Taylor Radtke
None
Over $100,000
Leah Song Richardson
None
Over $100,000
Mark A. Schmid
$10,001 - $50,000
Over $100,000
Interested Trustee
Douglas B. Sieg
None
Over $100,000
1
Mr. McNamara was appointed as a Trustee/Director of the Lord Abbett Funds effective January 1, 2025.
Part I
5-4
Committee Meetings
The following table sets forth the number of times each committee of the Board met during the most
recent fiscal year:
Fiscal Year
Ended
Audit
Committee
Sustainability
and Proxy
Committee
1
Governance
Committee
Ad Hoc
Compensation
Committee
Investment
Committee
Proxy
Conflict
Committee
2
November
30, 2024
5
1
5
0
4
0
1
The Sustainability and Proxy Committee was eliminated, with its responsibilities generally assumed by the Board.
2
The Proxy Conflict Committee was eliminated, with its responsibilities generally assumed by the Board.
Part I
6-1
6.
INVESTMENT ADVISORY AND OTHER SERVICES, FEES, AND EXPENSES
For more information on Lord Abbett, please see the “Investment Adviser” section of Part II.
Lord Abbett is each Fund’s investment adviser. Lord Abbett is a privately held investment adviser. Lord
Abbett’s address is 30 Hudson Street, Jersey City, NJ 07302-4804.
Under the Management Agreements between Lord Abbett and Investment Trust, on behalf of each Fund,
Lord Abbett is entitled to an annual management fee based on each Fund’s average daily net assets. The
management fee is allocated to each class of shares based upon the relative proportion of each Fund’s
net assets represented by that class.
For certain Funds, Lord Abbett has contractually agreed to waive a portion of its fees and reimburse
certain expenses. These agreements may be terminated only by the Funds’ Board.
Each Fund pays all expenses attributable to its operations not expressly assumed by Lord Abbett,
including, without limitation, Rule 12b-1 Plan expenses, Independent Board Members’ fees and
expenses, association membership dues, legal and auditing fees, taxes, transfer and dividend disbursing
agent fees, shareholder servicing costs, expenses relating to shareholder meetings, expenses of
registering its shares under federal and state securities laws, expenses of preparing, printing and mailing
prospectuses and shareholder reports to existing shareholders, insurance premiums, and other expenses
connected with executing portfolio transactions.
Management Fee Rates
The management fee is accrued daily, payable monthly, and calculated at the following annual rates:
Multi-Asset Balanced Opportunity Fund and
Multi-Asset Income Fund
0.10%
Convertible Fund
First $1 billion
0.70%
Next $1 billion
0.60%
Over $2 billion
0.57%
Core Fixed Income Fund
First $1 billion
0.24%
Next $1 billion
0.21%
Over $2 billion
0.20%
Core Plus Bond Fund and Total Return Fund
First $4 billion
0.28%
Next $11 billion
0.26%
Over $15 billion
0.25%
Floating Rate Fund
First $1 billion
0.50%
Over $1 billion
0.45%
Part I
6-2
High Yield Fund
First $1 billion
0.60%
Next $1 billion
0.55%
Over $2 billion
0.50%
Income Fund
First $3 billion
0.38%
Next $7 billion
0.35%
Over $10 billion
0.34%
Inflation Focused Fund
First $2 billion
0.30%
Next $3 billion
0.28%
Over $5 billion
0.26%
Short Duration Core Bond Fund
First $1 billion
0.30%
Next $1 billion
0.25%
Over $2 billion
0.20%
Short Duration Income Fund
First $1 billion
0.35%
Next $1 billion
0.30%
Over $2 billion
0.25%
Ultra Short Bond Fund
0.17%
Management Fees Paid to Lord Abbett
The following tables set forth the management fees each Fund paid to Lord Abbett (taking into account
any management fee waivers) for the last three fiscal years ended November 30
th
:
2022
Gross Management
Fees
Management Fees
Waived
Net
Management
Fees
Multi-Asset Balanced Opportunity
Fund
$2,312,061
$0
$2,312,061
Multi-Asset Income Fund
1,119,170
0
1,119,170
Convertible Fund
7,788,685
0
7,788,685
Core Fixed Income Fund
4,295,603
0
4,295,603
Core Plus Bond Fund
1,283,530
(19,191)
1,264,339
Floating Rate Fund
35,098,601
0
35,098,601
High Yield Fund
30,625,080
0
30,625,080
Income Fund
10,563,432
0
10,563,432
Inflation Focused Fund
10,660,691
0
10,660,691
Short Duration Core Bond Fund
718,054
(433,843)
284,211
Short Duration Income Fund
144,173,024
0
144,173,024
Total Return Fund
9,676,666
0
9,676,666
Ultra Short Bond Fund
24,407,067
0
24,407,067
2023
Gross Management
Fees
Management Fees
Waived
Net
Management
Fees
Multi-Asset Balanced Opportunity
Fund
$1,949,056
$0
$1,949,056
Multi-Asset Income Fund
888,119
0
888,119
Convertible Fund
5,015,738
0
5,015,738
Part I
6-3
2023
Gross Management
Fees
Management Fees
Waived
Net
Management
Fees
Core Fixed Income Fund
5,826,313
0
5,826,313
Core Plus Bond Fund
3,391,266
0
3,391,266
Floating Rate Fund
24,782,900
0
24,782,900
High Yield Fund
22,876,172
0
22,876,172
Income Fund
11,275,046
0
11,275,046
Inflation Focused Fund
5,331,886
0
5,331,886
Short Duration Core Bond Fund
1,082,441
(556,557)
525,884
Short Duration Income Fund
118,741,002
0
118,741,002
Total Return Fund
8,653,362
0
8,653,362
Ultra Short Bond Fund
1
16,338,108
0
16,338,108
2024
Gross Management
Fees
Management Fees
Waived
Net
Management
Fees
Multi-Asset Balanced Opportunity
Fund
$1,957,357
$0
$1,957,357
Multi-Asset Income Fund
809,582
0
809,582
Convertible Fund
4,064,008
0
4,064,008
Core Fixed Income Fund
8,422,665
0
8,422,665
Core Plus Bond Fund
6,313,663
0
6,313,663
Floating Rate Fund
22,799,143
0
22,799,143
High Yield Fund
20,093,288
0
20,093,288
Income Fund
17,072,755
0
17,072,755
Inflation Focused Fund
2,654,895
0
2,654,895
Short Duration Core Bond Fund
1,427,263
(570,621)
856,642
Short Duration Income Fund
107,976,757
0
107,976,757
Total Return Fund
9,804,862
0
9,804,862
Ultra Short Bond Fund
17,076,257
0
17,076,257
Contractual Fee Waivers and Expense Limitations
Lord Abbett has contractually agreed to waive its fees and/or reimburse Fund expenses to the extent
necessary to limit each Fund’s total net annual operating expenses (excluding certain expenses such as
fees under a Rule 12b-1 Plan and acquired fund fees and expenses) to the annual rates set forth in the
following table. This agreement may be terminated only by the Fund’s Board.
Contract Period
Class F3
and R6
All Other
Share
Classes
Core Plus Bond Fund
April 1, 2025 - March 31, 2026
0.41%
0.48%
Short Duration Core Bond Fund
April 1, 2025 - March 31, 2026
0.31%
0.40%
As to Core Fixed Income Fund and Total Return Fund, for the period from April 1, 2025 through March
31, 2026, Lord Abbett has contractually agreed to waive each Fund’s Class I shareholder servicing
expenses at the annual rate of 0.04% of the Fund’s average daily net assets.
Administrative Services Fees Paid to Lord Abbett
Pursuant to an Administrative Services Agreement with the Funds, Lord Abbett provides certain
administrative services not involving the provision of investment advice to the Funds. The following table
Part I
6-4
sets forth the administrative services fees each Fund paid to Lord Abbett for the last three fiscal years
ended November 30
th
:
2022
Gross
Administrative
Fees
Administrative
Fees Voluntarily
Waived
Net
Administrative
Fees
Multi-Asset Balanced Opportunity Fund
$924,824
$(94,132)
$830,692
Multi-Asset Income Fund
447,668
(33,146)
414,522
Convertible Fund
453,380
(63,898)
389,482
Core Fixed Income Fund
761,380
(31,672)
729,708
Core Plus Bond Fund
183,362
(5,925)
177,437
Floating Rate Fund
3,075,431
(72,295)
3,003,136
High Yield Fund
2,330,006
(182,172)
2,147,834
Income Fund
1,113,099
(40,681)
1,072,418
Inflation Focused Fund
1,465,813
(99,348)
1,366,465
Short Duration Core Bond Fund
95,741
(12,669)
83,072
Short Duration Income Fund
22,827,684
(582,708)
22,244,976
Total Return Fund
1,382,679
(77,811)
1,304,868
Ultra Short Bond Fund
5,742,839
(172,171)
5,570,668
2023
Gross
Administrative
Fees
Administrative
Fees Voluntarily
Waived
Net
Administrative
Fees
Multi-Asset Balanced Opportunity Fund
$779,622
$(151,781)
$627,841
Multi-Asset Income Fund
355,247
(84,803)
270,444
Convertible Fund
286,614
(16,511)
270,103
Core Fixed Income Fund
1,065,263
(63,470)
1,001,793
Core Plus Bond Fund
484,467
(44,330)
440,137
Floating Rate Fund
2,158,480
(116,652)
2,041,828
High Yield Fund
1,710,094
(110,628)
1,599,466
Income Fund
1,190,466
(94,481)
1,095,985
Inflation Focused Fund
713,253
(111,235)
602,018
Short Duration Core Bond Fund
144,325
(23,557)
120,768
Short Duration Income Fund
18,758,560
(572,561)
18,185,999
Total Return Fund
1,236,195
(70,455)
1,165,740
Ultra Short Bond Fund
3,844,260
(103,779)
3,740,481
Part I
6-5
2024
Gross
Administrative
Fees
Administrative
Fees Voluntarily
Waived
Net
Administrative
Fees
Multi-Asset Balanced Opportunity Fund
$782,943
$(11,450)
$771,493
Multi-Asset Income Fund
323,833
(30,529)
293,304
Convertible Fund
232,229
(14,835)
217,394
Core Fixed Income Fund
1,584,533
(61,508)
1,523,025
Core Plus Bond Fund
901,952
(40,233)
861,719
Floating Rate Fund
1,982,146
(67,386)
1,914,760
High Yield Fund
1,487,463
(102,063)
1,385,400
Income Fund
1,848,315
(76,441)
1,771,874
Inflation Focused Fund
353,986
(110,554)
243,432
Short Duration Core Bond Fund
190,302
(20,012)
170,290
Short Duration Income Fund
17,036,281
(409,356)
16,626,925
Total Return Fund
1,400,694
(54,009)
1,346,685
Ultra Short Bond Fund
4,017,943
(96,848)
3,921,095
Distributor
For additional information on the Distributor, please see the “Investment Advisory and Other Services,
Fees, and Expenses – Distributor” section of Part II. The Distributor received no other compensation
(including compensation on redemption and repurchase and brokerage commissions in connections with
Fund transactions) apart from that reflected below.
The following table sets forth the net sales charge received (after allowance of a portion of the sales
charge to independent dealers) by the Distributor, as the Registrant’s principal underwriter, for the last
three fiscal years ended November 30
th
:
2022
2023
2024
Gross sales charge
$6,347,973
$10,140,498
$19,751,548
Amount allowed to dealers
5,426,401
9,371,703
18,602,686
Net commissions received by the Distributor
921,572
768,795
1,148,862
The following table sets forth the CDSC received by the Distributor for the last three fiscal years ended
November 30
th
:
2022
2023
2024
CDSC received by the Distributor
$2,897,345
$855,619
$789,321
Rule 12b-1 Plan
For additional information on the Rule 12b-1 Plan, please see the “Investment Advisory and Other
Services, Fees, and Expenses – Rule 12b-1 Plan” section of Part II.
The following table sets forth the amounts paid by each applicable class of the Funds to the Distributor
pursuant to the Rule 12b-1 Plan for the fiscal year ended November 30, 2022:
Class A
Class A1
Class C
Class F
Multi-Asset Balanced Opportunity Fund
$4,402,818
N/A
$587,304
$7,599
Multi-Asset Income Fund
1,621,172
N/A
385,307
15,027
Convertible Fund
297,612
N/A
213,695
16,731
Core Fixed Income Fund
1,314,884
N/A
311,342
64,598
Core Plus Bond Fund
410,664
N/A
187,550
20,434
Floating Rate Fund
3,131,080
N/A
2,444,302
214,002
Part I
6-6
High Yield Fund
1,427,822
N/A
964,789
94,820
Income Fund
2,311,653
N/A
386,080
39,724
Inflation Focused Fund
370,800
N/A
290,810
29,030
Short Duration Core Bond Fund
171,586
N/A
56,782
6,418
Short Duration Income Fund
14,982,314
N/A
11,790,497
1,230,628
Total Return Fund
1,976,860
N/A
220,461
74,089
Ultra Short Bond Fund
6,260,533
9,982
229,933
584,580
Class P
Class R2
Class R3
Class R4
Multi-Asset Balanced Opportunity Fund
$727
$5,228
$227,000
$30,853
Multi-Asset Income Fund
0
2,158
69,875
5,073
Convertible Fund
181
557
93,600
741
Core Fixed Income Fund
0
3,630
23,012
25,953
Core Plus Bond Fund
0
0
2,335
2,599
Floating Rate Fund
0
4,655
465,722
3,363
High Yield Fund
0
32,324
416,865
150,948
Income Fund
0
4,146
256,099
14,886
Inflation Focused Fund
0
2,768
4,008
6,170
Short Duration Core Bond Fund
0
0
1,630
92
Short Duration Income Fund
0
32,586
1,528,225
369,384
Total Return Fund
111
7,255
136,539
78,774
Ultra Short Bond Fund
0
0
0
0
Brokerage Commissions
The Funds’ policy with respect to portfolio transactions and brokerage is set forth under the “Brokerage
Allocation and Other Practices” section of Part II.
Brokerage Commissions Paid to Independent Broker-Dealer Firms
.
The following table sets forth the total brokerage commissions on transactions of securities each Fund
paid to independent broker-dealer firms for the last three fiscal years ended November 30
th
:
2022
2023
2024
Multi-Asset Balanced Opportunity Fund
$71,924
$21,872
$8,876
Multi-Asset Income Fund
35,440
10,909
3,856
Convertible Fund
1
26,548
375,456
33,601
Core Fixed Income Fund
43,201
48,972
0
Core Plus Bond Fund
16,395
33,339
0
Floating Rate Fund
284,522
72,269
94,187
High Yield Fund
1,435,561
726,195
447,897
Income Fund
93,256
104,664
0
Inflation Focused Fund
128,480
40,965
0
Short Duration Core Bond Fund
6,568
0
0
Short Duration Income Fund
1,491,590
952,369
0
Total Return Fund
98,686
77,486
0
Ultra Short Bond Fund
20,921
30,029
0
1
The higher brokerage commissions for the Fund in the fiscal year 2023 were due to an overall increase in trading volume.
The amount of brokerage commissions paid by a Fund may change from year to year because of
changing asset levels, shareholder activity, and portfolio turnover, among other factors.
In addition to the purchase of research services through “commission sharing arrangements,” Lord Abbett
purchased third party research services with its own resources during the past three fiscal years ended
November 30
th
.
Part I
6-7
The following table sets forth the amount of portfolio transactions directed by each Fund to broker-dealers
that provided research services for the fiscal year ended November 30, 2024, for which the Fund paid the
brokerage commissions indicated:
Transactions
Commissions
Multi-Asset Balanced Opportunity Fund
$0
$2,011
Multi-Asset Income Fund
0
835
Convertible Fund
26,348,122
10127
Core Fixed Income Fund
0
0
Core Plus Bond Fund
0
0
Floating Rate Fund
129,225,683
17,951
High Yield Fund
519,944,707
333,367
Income Fund
0
0
Inflation Focused Fund
0
0
Short Duration Core Bond Fund
0
0
Short Duration Income Fund
0
0
Total Return Fund
0
0
Ultra Short Bond Fund
0
0
Regular Broker-Dealers
During the fiscal year ended November 30, 2024, each Fund acquired securities of its “regular brokers or
dealers,” as that term is defined in Rule 10b-1 under the 1940 Act, that derived, or have a parent that
derived, more than 15% of its gross revenues from the business of a broker, a dealer, an underwriter, or
an investment adviser, as follows:
Regular Broker or Dealers
Value of the Fund’s
Aggregate Holdings of
the Regular Broker’s or
Dealer’s or Parent’s
Securities
Multi-Asset Balanced
Opportunity Fund
None
None
Multi-Asset Income Fund
None
None
Convertible Fund
BANK OF AMERICA, N.A.
$22,014,538
Core Fixed Income Fund
BANK OF AMERICA, N.A.
52,752,129.07
Barclays Capital Inc.
18,457,503.29
BNP PARIBAS
4,024,624.52
Citigroup Global Markets Inc.
56,257,793.47
Goldman, Sachs & Co.
40,138,748.88
JPmorgan Chase Bank N.A
91,701,604.71
MORGAN STANLEY AND CO., LLC
47,794,368.10
UBS Financial Services Inc.
46,386,414.27
Wells Fargo Advisors PCG
56,361,610.50
Core Plus Bond Fund
BANK OF AMERICA, N.A.
27,265,790.17
Barclays Capital Inc.
10,254,168.50
BNP PARIBAS
9,266,596.03
Citigroup Global Markets Inc.
17,341,242.26
Goldman, Sachs & Co.
10,526,601.26
HSBC Securities USA, Inc.
0
JPmorgan Chase Bank N.A
39,139,496.15
LPL Independent Advisor Services
16,811,087.96
Part I
6-8
Morgan Stanley Wealth Management
31,539,889.14
RBC Capital Markets
1,448,896.62
Floating Rate Fund
JPmorgan Chase Bank N.A
0
Barclays Capital Inc.
0
High Yield Fund
UBS Securities LLC
4,720,959
Goldman, Sachs & Co.
0
Income Fund
BANK OF AMERICA, N.A.
20,933,024.03
Barclays Capital Inc.
11,049,004.70
BNP PARIBAS
10,785,848.89
Citigroup Global Markets Inc.
51,254,395.97
Goldman, Sachs & Co.
17,291,961.34
JPmorgan Chase Bank N.A
44,145,745.75
MORGAN STANLEY AND CO., LLC
66,249,124
Wells Fargo Securities, LLC
30,016,328
LPL Independent Advisor Services
33,283,715
UBS Financial Services Inc.
48,641,709
Inflation Focused Fund
BANK OF AMERICA, N.A.
2,916,546
Barclays Capital Inc.
7,817,124
Citigroup Global Markets Inc.
2,019,484
Deutsche Bank Securities Inc.
11,344,628
Goldman, Sachs & Co.
3,260,785
JPmorgan Chase Bank N.A
2,467,474
MORGAN STANLEY AND CO., LLC
0
Royal Bank of Canada
8,745,311
Wells Fargo Securities, LLC
572,943
Truist Investment Services, Inc.
2,060,509
Wells Fargo Securities, LLC
2,916,546
Short Duration Core Bond Fund
Ameriprise Financial Services, Inc.
Fidelity Brokerage Serv
315,900
LPL Independent Advisor Services
3,867,633
BANK OF AMERICA, N.A.
3,947,342
Barclays Capital Inc.
3,232,694
Citigroup Global Markets Inc.
7,876,829
Goldman, Sachs & Co.
3,351,623
JPmorgan Chase Bank N.A
1,768,226
MORGAN STANLEY AND CO., LLC
6,023,028
TORONTO DOMINION BANK, THE
687,917
Wells Fargo Securities, LLC
6,847,734
Short Duration Income Fund
Ameriprise Financial Services, Inc.
BANK OF AMERICA, N.A.
378,320,259
Barclays Capital Inc.
401,896,986
Citigroup Global Markets Inc.
628,150,552
Goldman, Sachs & Co.
419,662,166
JPmorgan Chase Bank N.A
394,205,659
LPL Independent Advisor Services
188,032,459
MORGAN STANLEY AND CO., LLC
248,140,821
RBC Capital Markets
0
Royal Bank of Canada
0
Part I
6-9
TORONTO DOMINION BANK, THE
0
UBS Financial Services Inc.
406,901,338
Wells Fargo Securities, LLC
499,137,086
Total Return Fund
BANK OF AMERICA, N.A.
55,048,697
Barclays Capital Inc.
0
BNP PARIBAS
18,310,945
Citigroup Global Markets Inc.
26,674,117
Goldman, Sachs & Co.
21,336,929
HSBC Securities USA, Inc.
0
JPmorgan Chase Bank N.A
57,533,300
MORGAN STANLEY AND CO., LLC
29,961,255
PNC Investments
15,864,073
Ultra Short Bond Fund
Citigroup Global Markets Inc
290,652,664
JP Morgan Advisors
142,936,352
Morgan Stanley Wealth Management
158,481,710
RBC Capital Markets
136,921,759
UBS Financial Services Inc.
200,349,883
BANK OF AMERICA, N.A.
163,069,895
Barclays Capital Inc.
92,524,702
Deutsche Bank Securities Inc.
14,386,322
Goldman, Sachs & Co.
188,603,946
TORONTO DOMINION BANK, THE
64,919,808
Wells Fargo Securities, LLC
159,886,676
Part I
7-1
7.
PORTFOLIO MANAGER INFORMATION
Other Accounts Managed
The following table sets forth information about the other accounts managed by the Funds’ portfolio
managers as of the Funds’ fiscal year ended November 30, 2024 (or another date, if indicated). For more
information, please see the “Portfolio Management Information” section of Part II. The data shown below
are approximate.
Included in the Registered Investment Companies category are those U.S.-registered funds managed or
sub-advised by Lord Abbett, including funds underlying variable annuity contracts and variable life
insurance policies offered through insurance companies. The Other Pooled Investment Vehicles category
includes collective investment funds, offshore funds and similar non-registered investment vehicles. Lord
Abbett does not manage any hedge funds. The Other Accounts category encompasses retirement and
benefit plans (including both defined contribution and defined benefit plans) sponsored by various
corporations and other entities, individually managed institutional accounts of various corporations, other
entities and individuals, and separately managed accounts in so-called wrap fee programs sponsored by
financial intermediaries unaffiliated with Lord Abbett.
Number of
Registered
Investment
Companies
Total
Assets
($MM)
Number of
Other
Pooled
Investment
Vehicles
Total
Assets
($MM)
Number
of Other
Accounts
Total
Assets
($MM)
Multi-Asset Balanced
Opportunity Fund
Giulio Martini
2
1,484.08
0
0
0
0
Robert A. Lee
18
94,859.59
11
11,298.98
1221
5,481.75
Steven F. Rocco
20
98,426.11
14
11,256.96
16
4,029.28
Jahiz Barlas
2
1,484.08
0
0
0
0
Multi-Asset Income Fund
Giulio Martini
2
2,706.01
0
0
0
0
Robert A. Lee
18
96,081.52
11
11,298.98
1221
5,481.75
Steven F. Rocco
20
99,648.04
14
11,256.96
16
4,029.28
Jahiz Barlas
2
2,706.01
0
0
0
0
Convertible Fund
Alan R. Kurtz
0
0
0
0
1564
633.30
Jeremy I. Lehmann
0
0
0
0
1564
633.30
Core Fixed Income Fund
Robert A. Lee
18
92,387.65
11
11,298.98
1221
5,481.75
Kewjin Yuoh
16
95,231.93
9
10,349.66
667
244.18
Andrew H. O’Brien
16
91,518.05
8
10,106.09
25
3,432.87
Leah G. Traub
7
8,520.36
3
1,326.76
667
244.18
Adam C. Castle
13
64,820.40
7
9,503.34
0
0
Harris A. Trifon
9
50,330.89
4
7,783.19
0
0
Karen J. Gunnerson
5
7,759.48
3
2,510.38
0
0
Yoana N. Koleva
1
N/A
N/A
N/A
N/A
N/A
N/A
Core Plus Bond Fund
Robert A. Lee
18
93,492.89
11
11,298.98
1221
5,481.75
Kewjin Yuoh
16
96,337.18
9
10,349.66
667
244.18
Andrew H. O’Brien
16
92,623.30
8
10,106.09
25
3,432.87
Part I
7-2
Number of
Registered
Investment
Companies
Total
Assets
($MM)
Number of
Other
Pooled
Investment
Vehicles
Total
Assets
($MM)
Number
of Other
Accounts
Total
Assets
($MM)
Steven F. Rocco
20
97,059.41
14
11,256.96
16
4,029.28
Leah G. Traub
7
9,625.60
3
1,326.76
667
244.18
Adam C. Castle
13
65,925.65
7
9,503.34
0
0
Harris A. Trifon
9
51,436.13
4
7,783.19
0
0
Karen J. Gunnerson
5
8,864.73
3
2,510.38
0
0
Yoana N. Koleva
1
N/A
N/A
N/A
N/A
N/A
N/A
Floating Rate Fund
Kearney M. Posner
2
170.25
2
209.69
0
0
Christopher J. Gizzo
5
33,764.57
2
2,081.66
0
0
Robert A. Lee
18
92,103.65
11
11,298.98
1221
5,481.75
Steven F. Rocco
20
95,670.17
14
11,256.96
16
4,029.28
High Yield Fund
Steven F. Rocco
20
96,800.94
14
11,256.96
16
4,029.28
Robert A. Lee
18
93,234.42
11
11,298.98
1221
5,481.75
Christopher J. Gizzo
5
34,895.34
2
2,081.66
0
0
Income Fund
Andrew H. O’Brien
16
90,418.29
8
10,106.09
25
3,432.87
Robert A. Lee
18
91,287.89
11
11,298.98
1221
5,481.75
Steven F. Rocco
20
94,854.41
14
11,256.96
16
4,029.28
Yoana N. Koleva
6
54,503.10
1
1,372.46
1
80.41
Ty J. Kern
1
N/A
N/A
N/A
N/A
N/A
N/A
Gregory H. Benz
1
N/A
N/A
N/A
N/A
N/A
N/A
Inflation Focused Fund
Leah G. Traub
7
12,298.56
3
1,326.76
667
244.18
Kewjin Yuoh
16
99,010.14
9
10,349.66
667
244.18
Robert A. Lee
18
96,165.85
11
11,298.98
1221
5,481.75
Andrew H. O’Brien
16
95,296.25
8
10,106.09
25
3,432.87
Steven F. Rocco
20
99,732.37
14
11,256.96
16
4,029.28
Short Duration Core Bond Fund
Andrew H. O’Brien
16
95,516.66
8
10,106.09
25
3,432.87
Kewjin Yuoh
16
99,230.54
9
10,349.66
667
244.18
Adam C. Castle
13
68,819.01
7
9,503.34
0
0
Yoana N. Koleva
6
59,601.47
1
1,372.46
1
80.41
Ty J. Kern
0
0
0
0
0
0
Gregory H. Benz
1
N/A
N/A
N/A
N/A
N/A
N/A
Short Duration Income Fund
Andrew H. O’Brien
16
53,935.88
8
10,106.09
25
3,432.87
Robert A. Lee
18
54,805.48
11
11,298.98
1221
5,481.75
Kewjin Yuoh
16
57,649.76
9
10,349.66
667
244.18
Steven F. Rocco
20
58,371.99
14
11,256.96
16
4,029.28
Adam C. Castle
13
27,238.23
7
9,503.34
0
0
Harris A. Trifon
9
12,748.72
4
7,783.19
0
0
Yoana N. Koleva
6
18,020.69
1
1,372.46
1
80.41
Part I
7-3
Number of
Registered
Investment
Companies
Total
Assets
($MM)
Number of
Other
Pooled
Investment
Vehicles
Total
Assets
($MM)
Number
of Other
Accounts
Total
Assets
($MM)
Total Return Fund
Robert A. Lee
18
93,168.38
11
11,298.98
1221
5,481.75
Kewjin Yuoh
16
96,012.67
9
10,349.66
667
244.18
Andrew H. O’Brien
16
92,298.78
8
10,106.09
25
3,432.87
Steven F. Rocco
20
96,734.90
14
11,256.96
16
4,029.28
Leah G. Traub
7
9,301.09
3
1,326.76
667
244.18
Adam C. Castle
13
65,601.13
7
9,503.34
0
0
Harris A. Trifon
9
51,111.62
4
7,783.19
0
0
Karen J. Gunnerson
5
8,540.21
3
2,510.38
0
0
Yoana N. Koleva
1
N/A
N/A
N/A
N/A
N/A
N/A
Ultra Short Bond Fund
Yoana N. Koleva
6
48,686.32
1
1,372.46
1
80.41
Andrew H. O’Brien
16
84,601.51
8
10,106.09
25
3,432.87
Kewjin Yuoh
16
88,315.40
9
10,349.66
667
244.18
Adam C. Castle
13
57,903.86
7
9,503.34
0
0
1
Ms. Koleva and Messrs. Kern and Benz were newly added as a portfolio managers to their respective Funds effective April 1,
2025, and their other accounts managed will be reported in a future filing.
Holdings of Portfolio Managers
The following table indicates the dollar range of securities beneficially owned by each portfolio manager in
the Funds he or she manages, as of November 30, 2024 (or another date, if indicated). This table
includes the value of securities beneficially owned by the portfolio managers through 401(k) plans and
certain other plans or accounts, if any.
Ownership of Securities
Aggregate Dollar Range of
Securities
Multi-Asset Balanced Opportunity Fund
Giulio Martini
Over $1,000,000
Robert A. Lee
Over $1,000,000
Steven F. Rocco
None
Jahiz Barlas
None
Multi-Asset Income Fund
Giulio Martini
$50,001-$100,000
Robert A. Lee
Over $1,000,000
Steven F. Rocco
None
Jahiz Barlas
None
Convertible Fund
Alan R. Kurtz
Over $1,000,000
Jeremy I. Lehmann
$10,001-$50,000
Core Fixed Income Fund
Robert A. Lee
Over $1,000,000
Kewjin Yuoh
$10,001-$50,000
Andrew H. O’Brien
$10,001-$50,000
Leah G. Traub
$100,001-$500,000