Lord Abbett is a renowned global asset manager that seeks to come up with a successful investment performance on behalf of its clients for the long run. The company aims to provide a wide variety of financial products and services to fulfill the needs of its investors. The three key factors that have added to Lord Abbett’s success are its independent perspective, smart product design and dedication to active management.
This New Jersey-based company was founded in November 1929 and had around $210.1 billion in assets under management as of Sep 30, 2020. The company has about 746 employees and 161 investment professionals dedicated to address its clients’ needs. Lord Abbett deals in 59 mutual funds investing in not only domestic and global stocks but also in fixed-income, tax-free income and multi-asset securities.
Below we share with you three top-ranked Lord Abbett mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.
Lord Abbett Bond Debenture Fund Class A LBNDX invests a bulk of its assets in fixed income securities, including debentures and bonds. The fund may also invest heavily in high-yield securities or junk bonds. LBNDX may invest around one-fifth of its assets in various kinds of equity securities. It has three-year annualized returns of 5%.
LBNDX has an expense ratio of 0.79% compared with the category average of 0.99%.
Lord Abbett High Yield Municipal Bond Fund Class A HYMAX aims to provide a high level of income exempted from federal income tax. The fund invests the majority of its assets in municipal bonds. The non-diversified fund seeks to maintain a dollar-weighted average maturity of between 10 and 25 years in normal conditions. HYMAX has returned 5.8% in the past three years.
As of the end of November 2020, HYMAX held 641 issues with 2.50% of its assets invested in BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5%.
Lord Abbett Multi-Asset Balanced Opportunity Fund Class C BFLAX is a “fund-of-funds” that generally invests in affiliated mutual funds managed by Lord, Abbett & Co. LLC. BFLAX invests primarily in U.S. equity securities, fixed income securities and certain foreign securities including emerging market securities. The fund applies a blend strategy that helps it to gain exposure to both growth and value stocks. BFLAX has a three-year annualized return of 7.3%.
Giulio A. Martini is one of the fund managers of BFLAX since 2015.
To view the Zacks Rank and past performance of all Lord Abbett mutual funds, investors can click here to see the complete list of funds.
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