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 peers in the future. Investors can click here to see the complete list of funds.
Lord Abbett High Yield Fund Class A LHYAX aims for high current income and seeks for capital appreciation to produce a high total return. The fund invests majority of assets in lower-rated debt securities, including corporate debt securities and securities that are convertible into common stock or have warrants to purchase common stock. LHYAX has returned 5.7% in the past three years.
LHYAX has an expense ratio of 0.90% compared with the category average of 0.96%.
Lord Abbett Bond Debenture Fund Class A LBNDX seeks high current income and aims for capital appreciation to produce a high total return. The fund 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. LBNDX has three-year annualized returns of 6.5%.
As of the end of March 2021, LBNDX held 990 issues with 0.68% of its assets invested in Shake Shack Inc A.
Lord Abbett National Tax Free Fund Class A LANSX seeks to maximize income that is exempted from federal income tax. Therefore, the fund invests majority of assets in municipal bonds that offer interest exempted from federal income tax. LANSX has a three-year annualized return of 5.9%.
Daniel S. Solender is one of the fund managers of LANSX since 2006.
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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