Lord Abbett Convertible Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
15.5%
1 yr return
16.1%
3 Yr Avg Return
-1.7%
5 Yr Avg Return
9.7%
Net Assets
$584 M
Holdings in Top 10
33.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.81%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 154.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
LOCFX - Profile
Distributions
- YTD Total Return 15.5%
- 3 Yr Annualized Total Return -1.7%
- 5 Yr Annualized Total Return 9.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.77%
- Dividend Yield 2.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameLord Abbett Convertible Fund
-
Fund Family NameLORDABBETT
-
Inception DateApr 04, 2017
-
Shares OutstandingN/A
-
Share ClassF3
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAlan Kurtz
Fund Description
Under normal conditions, the Fund pursues its investment objective by investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in a diversified portfolio of convertible securities issued by U.S. and foreign companies. Convertible securities may include corporate bonds, debentures, notes, preferred stocks, and any other securities that can be exchanged for equity securities or provide an opportunity for equity participation. For purposes of this 80% policy, the Fund also may gain exposure to convertible securities through derivatives or other ‘synthetic’ means.
The Fund may invest in both investment grade convertible securities and lower-rated (commonly referred to as “high-yield” or “junk”) convertible securities or, if unrated, determined by Lord Abbett to be of comparable quality. The Fund may invest in companies of all sizes and may from time to time invest a significant amount of its assets in securities of small and mid-sized companies and below investment grade securities.
The Fund may invest up to 20% of its net assets in non-convertible debt or equity securities. In addition, the Fund may invest up to 20% of its net assets in foreign securities. The Fund defines foreign securities as securities of non-U.S. issuers that are denominated in non-U.S. currencies.
The Fund will not invest more than 25% of its total assets in any industry; however, this limitation does not apply to mortgage-backed securities, privately issued mortgage-related securities, or securities issued by the U.S. Government, its agencies and instrumentalities.
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 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. For example, the Fund may invest in or sell short U.S. Treasury futures, securities index futures, other futures, and/or currency forwards to adjust the Fund’s exposure to the direction of interest rates, or for other portfolio management reasons.
The portfolio management team uses fundamental, bottom-up analysis to identify convertible securities that it believes are undervalued and that potentially may
increase total return and reduce downside risk. The portfolio management team will work toward reducing risk through portfolio diversification, credit analysis, assessment of risk/return potential, and attention to current developments and trends in interest rates and economic conditions. The investment team may also consider the risks and return potential presented by environmental, social, and governance (“ESG”) factors in investment decisions. The Fund engages 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, or shows signs of deteriorating fundamentals, among other reasons. The Fund may deviate from the investment strategy described above for temporary defensive purposes. The Fund may miss certain investment opportunities if defensive strategies are used and thus may not achieve its investment objective.
LOCFX - Performance
Return Ranking - Trailing
Period | LOCFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 15.5% | -3.2% | 15.9% | 7.89% |
1 Yr | 16.1% | -2.5% | 16.4% | 6.58% |
3 Yr | -1.7%* | -15.2% | 5.3% | 76.00% |
5 Yr | 9.7%* | -7.5% | 11.5% | 21.13% |
10 Yr | N/A* | -0.9% | 10.7% | 20.00% |
* Annualized
Return Ranking - Calendar
Period | LOCFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.1% | -7.7% | 13.1% | 59.74% |
2022 | -25.1% | -37.8% | -12.8% | 68.42% |
2021 | -14.7% | -18.9% | 2.4% | 68.42% |
2020 | 41.2% | 5.9% | 54.0% | 12.50% |
2019 | 14.1% | 9.9% | 24.4% | 66.67% |
Total Return Ranking - Trailing
Period | LOCFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 15.5% | -3.2% | 15.9% | 7.89% |
1 Yr | 16.1% | -2.5% | 16.4% | 6.58% |
3 Yr | -1.7%* | -15.2% | 5.3% | 76.00% |
5 Yr | 9.7%* | -7.5% | 11.5% | 21.13% |
10 Yr | N/A* | -0.9% | 10.7% | 20.00% |
* Annualized
Total Return Ranking - Calendar
Period | LOCFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.3% | -7.7% | 15.3% | 64.94% |
2022 | -23.1% | -37.8% | -10.6% | 80.26% |
2021 | 1.2% | -12.2% | 11.3% | 73.68% |
2020 | 64.4% | 8.7% | 64.4% | 1.39% |
2019 | 25.0% | 12.2% | 28.7% | 25.00% |
NAV & Total Return History
LOCFX - Holdings
Concentration Analysis
LOCFX | Category Low | Category High | LOCFX % Rank | |
---|---|---|---|---|
Net Assets | 584 M | 13.4 M | 4.3 B | 55.84% |
Number of Holdings | 77 | 41 | 381 | 74.03% |
Net Assets in Top 10 | 193 M | 3.92 M | 608 M | 44.16% |
Weighting of Top 10 | 33.78% | 9.5% | 46.5% | 19.48% |
Top 10 Holdings
- FIXED INC CLEARING CORP.REPO 5.13%
- Bank of America Corp 3.92%
- BILL Holdings Inc 3.78%
- RingCentral Inc 3.66%
- NextEra Energy Inc 3.25%
- Shopify Inc 3.13%
- Uber Technologies Inc 3.07%
- Match Group Financeco 2 Inc 2.99%
- NuVasive Inc 2.73%
- Lumentum Holdings Inc 2.12%
Asset Allocation
Weighting | Return Low | Return High | LOCFX % Rank | |
---|---|---|---|---|
Convertible Bonds | 92.09% | 37.15% | 99.72% | 16.88% |
Bonds | 86.96% | 0.00% | 98.77% | 50.65% |
Preferred Stocks | 7.37% | 0.00% | 22.50% | 61.04% |
Other | 5.40% | -17.11% | 5.40% | 6.49% |
Cash | 2.08% | -78.94% | 9.51% | 59.74% |
Stocks | 0.00% | 0.00% | 23.09% | 61.04% |
Bond Sector Breakdown
Weighting | Return Low | Return High | LOCFX % Rank | |
---|---|---|---|---|
Corporate | 100.00% | 91.11% | 100.00% | 6.49% |
Cash & Equivalents | 2.08% | 0.00% | 9.51% | 51.95% |
Derivative | 0.28% | -0.03% | 0.76% | 12.99% |
Securitized | 0.00% | 0.00% | 0.00% | 12.99% |
Municipal | 0.00% | 0.00% | 0.00% | 12.99% |
Government | 0.00% | 0.00% | 2.94% | 24.68% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | LOCFX % Rank | |
---|---|---|---|---|
US | 85.87% | 0.00% | 98.77% | 46.75% |
Non US | 1.09% | 0.00% | 15.91% | 12.99% |
LOCFX - Expenses
Operational Fees
LOCFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.81% | 0.20% | 2.87% | 79.22% |
Management Fee | 0.70% | 0.20% | 1.00% | 48.05% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.04% | 0.04% | 0.15% | 33.33% |
Sales Fees
LOCFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
LOCFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | 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.
LOCFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 154.00% | 30.00% | 154.00% | 91.30% |
LOCFX - Distributions
Dividend Yield Analysis
LOCFX | Category Low | Category High | LOCFX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.96% | 0.00% | 4.30% | 55.84% |
Dividend Distribution Analysis
LOCFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Quarterly | Monthly | Quarterly |
Net Income Ratio Analysis
LOCFX | Category Low | Category High | LOCFX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.77% | -3.72% | 3.69% | 27.63% |
Capital Gain Distribution Analysis
LOCFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 25, 2024 | $0.071 | OrdinaryDividend |
Mar 27, 2024 | $0.048 | OrdinaryDividend |
Dec 27, 2023 | $0.081 | OrdinaryDividend |
Sep 28, 2023 | $0.039 | OrdinaryDividend |
Jun 29, 2023 | $0.073 | OrdinaryDividend |
Mar 30, 2023 | $0.072 | OrdinaryDividend |
Dec 28, 2022 | $0.086 | OrdinaryDividend |
Dec 20, 2022 | $0.087 | OrdinaryDividend |
Sep 29, 2022 | $0.070 | OrdinaryDividend |
Jun 29, 2022 | $0.047 | OrdinaryDividend |
Mar 30, 2022 | $0.044 | OrdinaryDividend |
Dec 29, 2021 | $0.036 | OrdinaryDividend |
Dec 17, 2021 | $2.866 | OrdinaryDividend |
Sep 29, 2021 | $0.034 | OrdinaryDividend |
Jun 29, 2021 | $0.039 | OrdinaryDividend |
Mar 30, 2021 | $0.025 | OrdinaryDividend |
Dec 29, 2020 | $0.050 | OrdinaryDividend |
Dec 18, 2020 | $2.938 | OrdinaryDividend |
Sep 29, 2020 | $0.043 | OrdinaryDividend |
Jun 30, 2020 | $0.035 | OrdinaryDividend |
Mar 27, 2020 | $0.036 | OrdinaryDividend |
Dec 27, 2019 | $0.047 | OrdinaryDividend |
Dec 18, 2019 | $0.076 | Extra |
Dec 18, 2019 | $0.427 | CapitalGainShortTerm |
Dec 18, 2019 | $0.531 | CapitalGainLongTerm |
Sep 27, 2019 | $0.051 | OrdinaryDividend |
Jun 28, 2019 | $0.061 | OrdinaryDividend |
Mar 29, 2019 | $0.070 | OrdinaryDividend |
Dec 27, 2018 | $0.065 | OrdinaryDividend |
Dec 18, 2018 | $0.311 | ExtraDividend |
Dec 18, 2018 | $0.391 | CapitalGainLongTerm |
Sep 28, 2018 | $0.043 | OrdinaryDividend |
Jun 29, 2018 | $0.043 | OrdinaryDividend |
Mar 29, 2018 | $0.051 | OrdinaryDividend |
Dec 29, 2017 | $0.049 | OrdinaryDividend |
Dec 15, 2017 | $0.117 | ExtraDividend |
Sep 29, 2017 | $0.046 | OrdinaryDividend |
Jun 30, 2017 | $0.063 | OrdinaryDividend |
LOCFX - Fund Manager Analysis
Managers
Alan Kurtz
Start Date
Tenure
Tenure Rank
Apr 29, 2013
9.09
9.1%
Mr. Kurtz is a portfolio manager for the convertible strategy. Mr. Kurtz joined Lord Abbett's Operations Department in 2000. In 2002, he joined the convertible investment team as a sector analyst. He subsequently added responsibility for trading the convertible strategy, and in 2007 was asked to manage the day-to-day operations of the convertible separately managed account strategy. In 2013, he became a portfolio manager of the convertible strategy. Mr. Kurtz received a BA from Hartwick College and an MBA from New York University. He has been in the investment business since 2000.
Jeremy Lehmann
Start Date
Tenure
Tenure Rank
Dec 01, 2020
1.5
1.5%
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 36.97 | 10.28 | 7.42 |