Founded in 1929, Lord Abbett managed assets worth over $162.4 billion as of Dec 31, 2018. This privately held company has around 809 employees and 165 investment professionals dedicated to addressing clients’ needs. Lord Abbett deals in more than 61 mutual funds, investing in not only domestic and global stocks, but also in fixed-income, tax-free income and multi-asset securities.
This renowned global asset manager aims to provide a wide variety of financial products and services to fulfill the needs of investors. The company seeks successful investment performance on behalf of its clients over the long run. The three key factors that added to Lord Abbett’s success are its independent perspective, smart product design and dedication to active management.
Below we share with you four top-ranked Lord Abbett mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) or #2 (Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of Lord Abbett funds.
Lord Abbett Short Duration Income Fund Class R6 (LDLVX – Free Report) aims for high income that is consistent with capital preservation. The fund mostly invests in short-duration debt or fixed-income securities. The fund invests most of its assets in investment grade debt securities. LDLVX has three-year annualized returns of 3.1%.
Robert A. Lee is one of the fund managers of LDLVX since 1998.
Lord Abbett New York Tax-Free A (LANYX – Free Report) invests heavily in municipal bonds whose income is free from federal income tax as well as New York City and New York State personal income tax. LANYX seeks tax-exempted income. This non-diversified fund measures reasonable risk with respect to the volatility of the Barclays Municipal Bond Index. Lord Abbett New York Tax-Free A has three-year annualized returns of 2.8%.
LACFX has an expense ratio of only 0.79% compared with the category average of 0.92%.
Lord Abbett Developing Growth R6 (LADVX – Free Report) attains its investment goals through equity securities of companies that are expected to have long-term, above-average growth prospects. The fund invests more than 65% of its assets in small-cap companies. LADVX may also invest around one-tenth of its assets in non-U.S. companies. Lord Abbett Developing Growth R6 has three-year annualized returns 22.9%.
Vernon T Bice is one of the fund managers of LADVX since 2018.
Lord Abbett High Yield Municipal Bond A (HYMAX – Free Report) invests a major portion of its assets in tax-free, interest-paying municipal bonds. The fund invests a significant portion of its assets in lower-rated bonds or junk bonds. Its dollar-weighted average maturity varies from 10 to 25 years depending on the market condition. It is a non-diversified municipal bond mutual fund. Lord Abbett High Yield Municipal Bond A has three-year annualized returns of 5.4%.
As of April 2019, this fund held 568 issues with 1.53% of its assets invested in NEW YORK LIBERTY DEV CORP LIBERTY REV 5%.
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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