Founded in 1929, Lord Abbett managed assets worth more than $246 billion as of Jun 30, 2021. This privately held company has around 741 employees and 158 investment professionals dedicated to addressing its clients’ needs. Lord Abbett deals in about 59 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 its 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 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 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. It 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 6.6%.
Christopher J. Gizzo is one of the fund managers of LBNDX since 2013.
Lord Abbett Affiliated Fund Class A LAFFX aims for long-term appreciation of capital and income without excessive fluctuations in market value. The fund invests the majority of its assets in equity securities of large-cap companies, with market capitalization similar to those on the Russell 1000 Index. The fund manager focuses on U.S. companies that pay out dividends and have solid potential for capital growth. LAFFX has three-year annualized returns of 9.3%.
As of the end of June 2021, LAFFX held 68 issues with 3.33% of its assets invested in Microsoft Corp.
Lord Abbett High Yield Fund Class A LHYAX aims for high current income and seeks capital appreciation to produce a high total return. The fund invests the majority of its 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 6.1% in the past three years.
LHYAX has an expense ratio of 0.90% compared with the category average of 0.95%.
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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