L
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R
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Lord
Abbett
Municipal
Income
Fund
*
F
or
the
six-month
period
ended
March
31,
2024
Short
Duration
Tax Free
Fund
Intermediate
Tax Free
Fund
National
Tax Free
Fund
High
Income
Municipal
Bond
Fund
Short
Duration
High
Income
Municipal
Bond
Fund
Sustainable
Municipal
Bond
Fund
California
Tax Free
Fund
New
Jersey
Tax Free
Fund
New
York
Tax Free
Fund
Table of Content
s
1
A Letter
to Shareholders
Investment
Comparisons
2
Information
About
Your
Fund’
s Expenses
and
Holdings
Presented
by Credit
Rating
Schedules
of Investments:
14
Short
Dur ation
Tax Fr ee Fund
30
Intermediate
Tax Fr ee Fund
76
National
Tax Fr ee Fund
115
High
Income
Municipal
Bond
Fund
148
Short
Dur ation
High
Income
Municipal
Bond
Fund
168
Sustainable
Municipal
Bond
Fund
172
California
Tax Fr ee Fund
188
New Jer sey Tax Fr ee Fund
199
New York Tax Fr ee Fund
216
Statements
of Assets
and
Liabilities
220
Statements
of Operations
222
Statements
of Changes
in Net
Assets
228
Financial
Highlights
246
Notes
to Financial
Statements
266
Supplemental
Information
to Shareholders
1
Dear
Shar
eholder
s:
We ar e pleased
to pr ovide
you
with this semiannual
report for Lor d Abbett
Municipal
Income Fund for the six-month period ended March 31,
2024. For additional information about the Funds, please
visit our website
at www.lordabbett.com, wher e you can
access
quarterly
commentaries
by the Funds’
portfolio
managers. General information about Lord Abbett
mutual
funds , as well as in-depth
discussions
of market
tr ends and investment
str ategies
, is also pr ovided
in
Lor
d
Abbett
Insights
,
a quarterly
newsletter
available
on
our website.
Thank
you for investing
in Lor d Abbett
mutual
funds . We value the trust that you place in us and look
forwar
d to serving
your investment
needs
in the year s
to come.
Best
regar ds ,
Douglas
B. Sieg
Dir ector
, Pr esident
and Chief
Executive
Officer
Lor d Abbett Municipal
Income
Fund
Lor d Abbett Short Dur ation Tax Fr ee Fund, Lor d Abbett
Intermediate
Tax Fr ee Fund, Lor d Abbett National
Tax-
Fr ee Income
Fund, Lor d Abbett High Income
Municipal
Bond Fund, Lor d Abbett Short Dur ation High Income
Municipal
Bond Fund, Lor d Abbett Su stainable
Municipal
Bond Fund, Lor d Abbett California
Tax-Fr ee
Income
Fund, Lor d Abbett Ne w Jer se y Tax-Fr ee Income
Fund, and Lor d Abbett Ne w York Tax-Fr ee Income
Fund
Semiannual
Report
For
the
six-month
period
ended
Mar
ch
3
1,
20
24
From left to right: Evelyn E. Guernsey,
Independent
Chair
of the
Lord
Abbett
Fun
ds
an d Doug las
B. Sieg
Director
, President
and
Chief
Executive
Officer
of
the
Lord
Abbett
Funds.