Lord Abbett Climate Focused Bond Fund
Name
As of 09/05/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
5.1%
1 yr return
10.5%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
N/A
Net Assets
$20.9 M
Holdings in Top 10
16.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.83%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 69.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 09/05/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CFBRX - Profile
Distributions
- YTD Total Return 5.1%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.20%
- Dividend Yield 3.4%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameLord Abbett Climate Focused Bond Fund
-
Fund Family NameLORDABBETT
-
Inception DateMay 28, 2020
-
Shares OutstandingN/A
-
Share ClassR4
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAnnika Lombardi
Fund Description
Under normal conditions, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds and other fixed income securities. The Fund considers bonds and other fixed income securities to include, among other types of investments, investment grade debt securities, debt securities issued by public sector or government sponsored entities, corporate debt securities, high-yield securities (commonly referred to as “below investment grade” or “junk” bonds), loans (including bridge loans, novations, assignments, and participations), which may be fixed or floating rate, foreign (including emerging market) debt securities, all types of mortgage-related and other asset-backed securities, including those that are non-investment grade, which may be backed by a government agency or privately-issued, and equity-related debt securities such as convertible bonds, preferred stocks, and debt securities with warrants.
The Fund will invest in the securities of issuers the Fund’s portfolio management team believes have, or will have, a positive impact on the climate through an issuer’s operations or the products and services provided by the issuer. When considering a potential investment and its impact on the climate, Lord Abbett may consider a variety of factors, including whether an issuer contributes to efforts relating to clean energy, energy efficiency, sustainable transportation, clean water and resource management, or low carbon solutions, or such other factors that the portfolio management team may determine are relevant. The factors Lord Abbett considers can change over time. In its evaluation of these factors, Lord Abbett may utilize its
internal research relating to climate factors, third party research and data providers, its assessment of an issuer’s alignment with international commitments deemed relevant by Lord Abbett, and information made available by the issuer such as carbon emissions and intensity data. Lord Abbett will use its own assessments of environmental and climate-oriented issues and may also reference standards as set forth by recognized global organizations.
The Fund’s investments will generally include labeled and unlabeled “green” bonds, which may be issued by sovereigns, government-related entities, and corporates (non-government). Labeled green bonds are bonds that earmark proceeds for climate and environmental projects. Labeled green bonds are often verified by a third party, which certifies that the bond will fund projects that include environmental benefits. Unlabeled green bonds (or climate-aligned bonds) are securities whose proceeds are supposed to be used for climate-aligned projects and initiatives but are issued without formal certifications.
Lord Abbett may also consider other environmental, social, and governance (“ESG”) factors in investment decisions. The Fund generally will not invest in the securities of any issuer determined by Lord Abbett to be engaged principally in the fossil fuel and natural gas-related production or distribution sectors, including distribution/retail, equipment and services, extraction and production, petrochemicals, pipelines and transportation and refining, and the production or distribution of coal and coal fired generation. However, green labeled bonds from issuers involved in fossil fuel and natural gas-related sectors may be permitted. The Fund will also not invest in the securities of any issuer determined by Lord Abbett to be engaged principally in the manufacture of alcoholic beverages, tobacco products or military equipment, the operation of gambling casinos, or in the production or trade of pornographic materials.
Following an assessment of climate impact, the portfolio management team will select securities using a bottom-up analysis of an issuer’s management quality, credit risk, and relative market position, industry dynamics, and its evaluation of conditions within the broader economy. The portfolio management team develops a macroeconomic outlook of the current economic environment and credit markets and allocates the Fund’s assets using fundamental research and quantitative tools. The portfolio management team attempts to reduce risk through portfolio diversification, credit analysis and attention to current developments and trends in interest rates and economic conditions. The Fund may engage in active and frequent trading of its portfolio securities.
The Fund may sell a security when the Fund believes the security is less likely to benefit from the current market and economic environment, shows signs of deteriorating fundamentals, no longer meets the Fund’s investment criteria, to increase cash, or to satisfy redemption requests, among other reasons. In considering whether to sell a security, the Fund may evaluate factors including, but not limited to, the condition of the economy, changes in the issuer’s competitive position or financial condition, changes in the outlook for the issuer’s industry, the Fund’s
valuation target for the security, and the impact of the security’s duration on the Fund’s overall duration.
The Fund may invest up to 30% of its net assets in high-yield securities (commonly referred to as “below investment grade” or “junk” bonds). High-yield securities are debt securities that are rated BB/Ba or lower by an independent rating agency, or that are unrated but determined by Lord Abbett to be of comparable quality. The Fund does not have any maturity or duration restrictions and may invest in securities of any maturity or duration.
The Fund may use derivatives to hedge against risk or to gain investment exposure. Currently, the Fund expects to invest in derivatives consisting principally of futures, forwards, options, and swaps. The Fund may engage in a variety of foreign currency related transactions, including entering into forward foreign currency contracts to hedge against foreign currency fluctuations or to gain exposure to foreign currencies. The Fund is not required to hedge its non-dollar investments back to the U.S. dollar through the use of derivatives, but may do so as part of its strategy. The Fund may use derivatives to seek to enhance returns, to attempt to hedge some of its investment risk, to manage portfolio duration, as a substitute for holding the underlying asset on which the derivative instrument is based, or for cash management purposes. The market value of derivatives providing economic exposure substantially similar to the securities referenced in the Fund’s 80% policy, as described above, will be counted for purposes of measuring the Fund’s compliance with its 80% policy.
CFBRX - Performance
Return Ranking - Trailing
Period | CFBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.1% | -15.2% | -2.4% | 44.62% |
1 Yr | 10.5% | -10.4% | -2.5% | 37.40% |
3 Yr | -0.3%* | -1.2% | 4.2% | N/A |
5 Yr | N/A* | -0.1% | 3.7% | N/A |
10 Yr | N/A* | 0.0% | 4.6% | N/A |
* Annualized
Return Ranking - Calendar
Period | CFBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.6% | -9.4% | -0.6% | 59.68% |
2022 | -18.9% | -1.3% | 7.0% | N/A |
2021 | -4.1% | 0.5% | 200.9% | N/A |
2020 | N/A | -15.5% | 3.1% | N/A |
2019 | N/A | -0.6% | 30.6% | N/A |
Total Return Ranking - Trailing
Period | CFBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.1% | -15.2% | -2.4% | 43.08% |
1 Yr | 10.5% | -12.6% | -2.5% | 31.30% |
3 Yr | -0.3%* | -1.6% | 4.2% | N/A |
5 Yr | N/A* | -0.1% | 3.7% | N/A |
10 Yr | N/A* | 0.0% | 4.6% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | CFBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.3% | -9.4% | -0.6% | 59.68% |
2022 | -12.2% | -1.3% | 7.0% | N/A |
2021 | -0.7% | 0.5% | 200.9% | N/A |
2020 | N/A | -15.5% | 3.3% | N/A |
2019 | N/A | 0.1% | 30.6% | N/A |
NAV & Total Return History
CFBRX - Holdings
Concentration Analysis
CFBRX | Category Low | Category High | CFBRX % Rank | |
---|---|---|---|---|
Net Assets | 20.9 M | 21.8 M | 93.5 B | 100.00% |
Number of Holdings | 229 | 5 | 7040 | 78.79% |
Net Assets in Top 10 | 3.52 M | -839 M | 6.06 B | 80.30% |
Weighting of Top 10 | 16.75% | 6.1% | 100.0% | 91.67% |
Top 10 Holdings
- U.S. Treasury Notes 3.41%
- Bundesrepublik Deutschland Bundesanleihe 2.60%
- Central Japan Railway Co 1.87%
- Bundesrepublik Deutschland Bundesanleihe 1.86%
- FIXED INC CLEARING CORP.REPO 1.69%
- Transport for London 1.15%
- U.K. Gilts 1.07%
- French Republic Government Bonds OAT 1.04%
- JPMorgan Chase Co 1.04%
- Veralto Corp 1.02%
Asset Allocation
Weighting | Return Low | Return High | CFBRX % Rank | |
---|---|---|---|---|
Bonds | 96.57% | 36.86% | 100.73% | 28.03% |
Convertible Bonds | 4.83% | 0.00% | 14.16% | 12.12% |
Other | 2.76% | -8.93% | 0.72% | 91.67% |
Cash | 0.68% | -2.75% | 67.17% | 97.73% |
Stocks | 0.00% | 0.00% | 0.70% | 20.45% |
Preferred Stocks | 0.00% | 0.00% | 0.73% | 99.24% |
Bond Sector Breakdown
Weighting | Return Low | Return High | CFBRX % Rank | |
---|---|---|---|---|
Corporate | 57.34% | 0.00% | 70.79% | 9.09% |
Government | 35.88% | 1.71% | 97.31% | 71.21% |
Securitized | 4.11% | 0.00% | 29.11% | 59.85% |
Municipal | 2.67% | 0.00% | 3.10% | 6.82% |
Derivative | 0.83% | 0.00% | 50.79% | 99.24% |
Cash & Equivalents | 0.00% | 0.00% | 51.02% | 100.00% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | CFBRX % Rank | |
---|---|---|---|---|
Non US | 54.63% | 26.05% | 98.85% | 42.42% |
US | 41.94% | -11.86% | 53.57% | 28.03% |
CFBRX - Expenses
Operational Fees
CFBRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.83% | 0.02% | 1.81% | 49.22% |
Management Fee | 0.35% | 0.00% | 0.83% | 30.30% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 59.62% |
Administrative Fee | 0.04% | 0.01% | 0.45% | 32.61% |
Sales Fees
CFBRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 4.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
CFBRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
CFBRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 69.00% | 2.00% | 402.00% | 66.67% |
CFBRX - Distributions
Dividend Yield Analysis
CFBRX | Category Low | Category High | CFBRX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.42% | 0.00% | 2.20% | 8.33% |
Dividend Distribution Analysis
CFBRX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annually | Monthly | Monthly |
Net Income Ratio Analysis
CFBRX | Category Low | Category High | CFBRX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.20% | -0.30% | 3.10% | 59.54% |
Capital Gain Distribution Analysis
CFBRX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Aug 30, 2024 | $0.025 | OrdinaryDividend |
Jul 31, 2024 | $0.024 | OrdinaryDividend |
Apr 30, 2024 | $0.023 | OrdinaryDividend |
Mar 31, 2024 | $0.023 | OrdinaryDividend |
Feb 29, 2024 | $0.023 | OrdinaryDividend |
Jan 31, 2024 | $0.158 | OrdinaryDividend |
Dec 31, 2023 | $0.023 | OrdinaryDividend |
Dec 19, 2023 | $0.135 | OrdinaryDividend |
Nov 30, 2023 | $0.021 | OrdinaryDividend |
Oct 31, 2023 | $0.022 | OrdinaryDividend |
Sep 29, 2023 | $0.021 | OrdinaryDividend |
Aug 31, 2023 | $0.021 | OrdinaryDividend |
Jul 31, 2023 | $0.021 | OrdinaryDividend |
Jun 30, 2023 | $0.021 | OrdinaryDividend |
May 31, 2023 | $0.020 | OrdinaryDividend |
Apr 28, 2023 | $0.019 | OrdinaryDividend |
Mar 31, 2023 | $0.019 | OrdinaryDividend |
Feb 28, 2023 | $0.018 | OrdinaryDividend |
Jan 31, 2023 | $0.018 | OrdinaryDividend |
Dec 31, 2022 | $0.019 | OrdinaryDividend |
Dec 20, 2022 | $0.513 | OrdinaryDividend |
Nov 30, 2022 | $0.018 | OrdinaryDividend |
Oct 31, 2022 | $0.017 | OrdinaryDividend |
Sep 30, 2022 | $0.015 | OrdinaryDividend |
Aug 31, 2022 | $0.015 | OrdinaryDividend |
Jul 31, 2022 | $0.014 | OrdinaryDividend |
Jun 30, 2022 | $0.014 | OrdinaryDividend |
May 31, 2022 | $0.014 | OrdinaryDividend |
Apr 29, 2022 | $0.013 | OrdinaryDividend |
Mar 31, 2022 | $0.013 | OrdinaryDividend |
Feb 28, 2022 | $0.013 | OrdinaryDividend |
Jan 31, 2022 | $0.013 | OrdinaryDividend |
Dec 31, 2021 | $0.013 | OrdinaryDividend |
Dec 17, 2021 | $0.077 | OrdinaryDividend |
Dec 17, 2021 | $0.054 | CapitalGainShortTerm |
Dec 17, 2021 | $0.043 | CapitalGainLongTerm |
Nov 30, 2021 | $0.013 | OrdinaryDividend |
Oct 29, 2021 | $0.013 | OrdinaryDividend |
Sep 30, 2021 | $0.014 | OrdinaryDividend |
Aug 31, 2021 | $0.012 | OrdinaryDividend |
Jul 31, 2021 | $0.013 | OrdinaryDividend |
Jun 30, 2021 | $0.013 | OrdinaryDividend |
May 28, 2021 | $0.014 | OrdinaryDividend |
Apr 30, 2021 | $0.013 | OrdinaryDividend |
Mar 31, 2021 | $0.014 | OrdinaryDividend |
Feb 28, 2021 | $0.016 | OrdinaryDividend |
Jan 31, 2021 | $0.016 | OrdinaryDividend |
Dec 31, 2020 | $0.017 | OrdinaryDividend |
Nov 30, 2020 | $0.016 | OrdinaryDividend |
Oct 30, 2020 | $0.016 | OrdinaryDividend |
Sep 30, 2020 | $0.016 | OrdinaryDividend |
Aug 31, 2020 | $0.016 | OrdinaryDividend |
Jul 31, 2020 | $0.017 | OrdinaryDividend |
Jun 30, 2020 | $0.019 | OrdinaryDividend |
CFBRX - Fund Manager Analysis
Managers
Annika Lombardi
Start Date
Tenure
Tenure Rank
Apr 22, 2020
2.11
2.1%
Ms. Lombardi joined Lord Abbett in 2017 and has been a member of the team since 2019. Ms. Lombardi was formerly a Portfolio Manager and Research Analyst at Janus Capital International from 2013 to 2017.
Andrew O'Brien
Start Date
Tenure
Tenure Rank
Apr 22, 2020
2.11
2.1%
Mr. O’Brien is a lead portfolio manager for the taxable fixed income strategies. Mr. O’Brien joined Lord Abbett in 1998 and was named Partner in 2008. Mr. O’Brien received a BA from Princeton University. He is a holder of a Chartered Financial Analyst designation and has been in the investment business since 1998.
Steven Rocco
Start Date
Tenure
Tenure Rank
Apr 22, 2020
2.11
2.1%
Mr. Rocco is Partner and Director of Taxable Fixed Income of Lord Abbett. Mr. Rocco is a lead portfolio manager for the high yield fixed income strategy and also contributes as portfolio manager to the multi-sector fixed-income strategy. Mr. Rocco joined Lord Abbett in 2004 and was named Partner in 2011. Mr. Rocco joined Lord Abbett as an associate portfolio manager and then transitioned to lead portfolio manager for our short duration and corporate bond strategies. He was previously a Consultant at FactSet. Mr. Rocco received a BA from Cornell University. He is a holder of a Chartered Financial Analyst designation and has been in the investment business since 2001.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.12 | 31.42 | 5.43 | 0.92 |