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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 10/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
9.1%
1 yr return
16.9%
3 Yr Avg Return
-3.9%
5 Yr Avg Return
9.5%
Net Assets
$584 M
Holdings in Top 10
35.9%
Expense Ratio 1.35%
Front Load N/A
Deferred Load N/A
Turnover 154.00%
Redemption Fee N/A
Standard (Taxable)
$0
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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.
Period | LCFPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.1% | -2.6% | 11.1% | 36.36% |
1 Yr | 16.9% | -0.3% | 20.6% | 48.05% |
3 Yr | -3.9%* | -17.1% | 2.6% | 85.53% |
5 Yr | 9.5%* | -6.8% | 12.1% | 47.22% |
10 Yr | 8.1%* | -0.7% | 10.6% | 36.21% |
* Annualized
Period | LCFPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.1% | -7.7% | 13.1% | 58.23% |
2022 | -25.1% | -37.8% | -9.7% | 69.23% |
2021 | -14.5% | -18.9% | 2.4% | 64.10% |
2020 | 41.4% | 5.8% | 54.0% | 10.81% |
2019 | 14.2% | 9.9% | 24.4% | 63.51% |
Period | LCFPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.1% | -2.6% | 11.1% | 36.36% |
1 Yr | 16.9% | -0.3% | 20.6% | 48.05% |
3 Yr | -3.9%* | -17.1% | 2.6% | 85.53% |
5 Yr | 9.5%* | -6.8% | 12.1% | 47.22% |
10 Yr | 8.1%* | -0.7% | 10.6% | 36.21% |
* Annualized
Period | LCFPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.8% | -7.7% | 15.3% | 75.95% |
2022 | -23.5% | -37.8% | -9.7% | 89.74% |
2021 | 0.7% | -12.2% | 11.3% | 82.05% |
2020 | 63.6% | 5.8% | 64.4% | 10.81% |
2019 | 24.4% | 12.2% | 28.7% | 39.19% |
LCFPX | Category Low | Category High | LCFPX % Rank | |
---|---|---|---|---|
Net Assets | 584 M | 14.8 M | 3.69 B | 59.49% |
Number of Holdings | 79 | 42 | 381 | 77.22% |
Net Assets in Top 10 | 212 M | 3.92 M | 584 M | 35.44% |
Weighting of Top 10 | 35.94% | 9.5% | 49.4% | 18.99% |
Weighting | Return Low | Return High | LCFPX % Rank | |
---|---|---|---|---|
Convertible Bonds | 92.09% | 37.15% | 99.72% | 20.25% |
Bonds | 89.99% | 0.00% | 98.77% | 43.04% |
Preferred Stocks | 7.97% | 0.00% | 22.50% | 39.24% |
Other | 1.89% | -17.11% | 1.89% | 10.13% |
Cash | 1.42% | -78.94% | 7.59% | 68.35% |
Stocks | 0.00% | 0.00% | 23.09% | 58.23% |
Weighting | Return Low | Return High | LCFPX % Rank | |
---|---|---|---|---|
Utilities | 86.15% | 0.00% | 100.00% | 35.21% |
Healthcare | 13.85% | 0.00% | 20.31% | 26.76% |
Technology | 0.00% | 0.00% | 23.73% | 71.83% |
Real Estate | 0.00% | 0.00% | 27.87% | 64.79% |
Industrials | 0.00% | 0.00% | 23.08% | 80.28% |
Financial Services | 0.00% | 0.00% | 20.48% | 71.83% |
Energy | 0.00% | 0.00% | 40.56% | 70.42% |
Communication Services | 0.00% | 0.00% | 100.00% | 60.56% |
Consumer Defense | 0.00% | 0.00% | 25.78% | 67.61% |
Consumer Cyclical | 0.00% | 0.00% | 24.79% | 69.01% |
Basic Materials | 0.00% | 0.00% | 24.08% | 61.97% |
Weighting | Return Low | Return High | LCFPX % Rank | |
---|---|---|---|---|
US | 0.00% | 0.00% | 22.42% | 53.16% |
Non US | 0.00% | 0.00% | 1.55% | 62.03% |
Weighting | Return Low | Return High | LCFPX % Rank | |
---|---|---|---|---|
Corporate | 100.00% | 91.11% | 100.00% | 11.39% |
Cash & Equivalents | 1.42% | 0.00% | 7.86% | 60.76% |
Derivative | 0.35% | 0.00% | 0.49% | 16.46% |
Securitized | 0.00% | 0.00% | 0.00% | 55.70% |
Municipal | 0.00% | 0.00% | 0.00% | 55.70% |
Government | 0.00% | 0.00% | 2.94% | 59.49% |
Weighting | Return Low | Return High | LCFPX % Rank | |
---|---|---|---|---|
US | 86.16% | 0.00% | 98.77% | 62.03% |
Non US | 3.83% | 0.00% | 17.05% | 13.92% |
LCFPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.35% | 0.20% | 2.87% | 34.18% |
Management Fee | 0.70% | 0.20% | 1.00% | 51.28% |
12b-1 Fee | 0.45% | 0.00% | 1.00% | 59.57% |
Administrative Fee | 0.04% | 0.04% | 0.15% | 53.33% |
LCFPX 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 |
LCFPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
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.
LCFPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 154.00% | 30.00% | 154.00% | 95.77% |
LCFPX | Category Low | Category High | LCFPX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.60% | 0.00% | 4.30% | 75.95% |
LCFPX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Quarterly | Quarterly | Quarterly |
LCFPX | Category Low | Category High | LCFPX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.23% | -3.72% | 3.69% | 58.97% |
LCFPX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 25, 2024 | $0.056 | OrdinaryDividend |
Mar 27, 2024 | $0.034 | OrdinaryDividend |
Dec 27, 2023 | $0.068 | OrdinaryDividend |
Sep 28, 2023 | $0.025 | OrdinaryDividend |
Jun 29, 2023 | $0.058 | OrdinaryDividend |
Mar 30, 2023 | $0.057 | OrdinaryDividend |
Dec 28, 2022 | $0.072 | OrdinaryDividend |
Dec 20, 2022 | $0.087 | OrdinaryDividend |
Sep 29, 2022 | $0.055 | OrdinaryDividend |
Jun 29, 2022 | $0.031 | OrdinaryDividend |
Mar 30, 2022 | $0.027 | OrdinaryDividend |
Dec 29, 2021 | $0.018 | OrdinaryDividend |
Dec 17, 2021 | $2.866 | OrdinaryDividend |
Jun 29, 2021 | $0.017 | OrdinaryDividend |
Mar 30, 2021 | $0.001 | OrdinaryDividend |
Dec 29, 2020 | $0.030 | OrdinaryDividend |
Dec 18, 2020 | $2.938 | OrdinaryDividend |
Sep 29, 2020 | $0.023 | OrdinaryDividend |
Jun 30, 2020 | $0.011 | OrdinaryDividend |
Mar 27, 2020 | $0.023 | OrdinaryDividend |
Dec 27, 2019 | $0.033 | OrdinaryDividend |
Dec 18, 2019 | $0.076 | Extra |
Dec 18, 2019 | $0.427 | CapitalGainShortTerm |
Dec 18, 2019 | $0.531 | CapitalGainLongTerm |
Sep 27, 2019 | $0.035 | OrdinaryDividend |
Jun 28, 2019 | $0.046 | OrdinaryDividend |
Mar 29, 2019 | $0.055 | OrdinaryDividend |
Dec 27, 2018 | $0.051 | OrdinaryDividend |
Dec 18, 2018 | $0.311 | ExtraDividend |
Dec 18, 2018 | $0.391 | CapitalGainLongTerm |
Sep 28, 2018 | $0.027 | OrdinaryDividend |
Jun 29, 2018 | $0.027 | OrdinaryDividend |
Mar 29, 2018 | $0.036 | OrdinaryDividend |
Dec 29, 2017 | $0.036 | OrdinaryDividend |
Dec 15, 2017 | $0.117 | ExtraDividend |
Sep 29, 2017 | $0.032 | OrdinaryDividend |
Jun 30, 2017 | $0.049 | OrdinaryDividend |
Mar 31, 2017 | $0.048 | OrdinaryDividend |
Dec 30, 2016 | $0.045 | OrdinaryDividend |
Dec 16, 2016 | $0.169 | ExtraDividend |
Sep 30, 2016 | $0.054 | OrdinaryDividend |
Jun 30, 2016 | $0.060 | OrdinaryDividend |
Mar 31, 2016 | $0.064 | OrdinaryDividend |
Dec 31, 2015 | $0.044 | OrdinaryDividend |
Dec 18, 2015 | $0.176 | ExtraDividend |
Sep 30, 2015 | $0.054 | OrdinaryDividend |
Jun 30, 2015 | $0.039 | OrdinaryDividend |
Mar 31, 2015 | $0.027 | OrdinaryDividend |
Dec 31, 2014 | $0.032 | OrdinaryDividend |
Dec 19, 2014 | $0.157 | ExtraDividend |
Dec 19, 2014 | $0.785 | CapitalGainShortTerm |
Dec 19, 2014 | $0.534 | CapitalGainLongTerm |
Sep 30, 2014 | $0.037 | OrdinaryDividend |
Jun 27, 2014 | $0.025 | OrdinaryDividend |
Mar 28, 2014 | $0.034 | OrdinaryDividend |
Dec 31, 2013 | $0.031 | OrdinaryDividend |
Dec 18, 2013 | $0.132 | ExtraDividend |
Dec 18, 2013 | $0.426 | CapitalGainShortTerm |
Dec 18, 2013 | $0.479 | CapitalGainLongTerm |
Sep 27, 2013 | $0.026 | OrdinaryDividend |
Jun 28, 2013 | $0.033 | OrdinaryDividend |
Mar 28, 2013 | $0.049 | OrdinaryDividend |
Dec 28, 2012 | $0.056 | OrdinaryDividend |
Dec 18, 2012 | $0.081 | ExtraDividend |
Sep 28, 2012 | $0.051 | OrdinaryDividend |
Jun 29, 2012 | $0.051 | OrdinaryDividend |
Mar 30, 2012 | $0.056 | OrdinaryDividend |
Dec 30, 2011 | $0.053 | OrdinaryDividend |
Dec 16, 2011 | $0.054 | ExtraDividend |
Sep 30, 2011 | $0.054 | OrdinaryDividend |
Jun 30, 2011 | $0.060 | OrdinaryDividend |
Mar 31, 2011 | $0.060 | OrdinaryDividend |
Dec 17, 2010 | $0.075 | OrdinaryDividend |
Dec 17, 2010 | $0.075 | ExtraDividend |
Sep 30, 2010 | $0.084 | OrdinaryDividend |
Jun 30, 2010 | $0.091 | OrdinaryDividend |
Mar 31, 2010 | $0.121 | OrdinaryDividend |
Dec 30, 2009 | $0.113 | OrdinaryDividend |
Dec 23, 2009 | $0.055 | ExtraDividend |
Sep 30, 2009 | $0.091 | OrdinaryDividend |
Jun 30, 2009 | $0.078 | OrdinaryDividend |
Mar 31, 2009 | $0.082 | OrdinaryDividend |
Dec 30, 2008 | $0.067 | OrdinaryDividend |
Dec 23, 2008 | $0.155 | ExtraDividend |
Sep 30, 2008 | $0.072 | OrdinaryDividend |
Jun 27, 2008 | $0.067 | OrdinaryDividend |
Mar 28, 2008 | $0.058 | OrdinaryDividend |
Dec 27, 2007 | $0.075 | OrdinaryDividend |
Dec 21, 2007 | $0.109 | ExtraDividend |
Dec 21, 2007 | $0.216 | CapitalGainLongTerm |
Sep 28, 2007 | $0.055 | OrdinaryDividend |
Jun 29, 2007 | $0.053 | OrdinaryDividend |
Mar 30, 2007 | $0.073 | OrdinaryDividend |
Dec 21, 2006 | $0.246 | OrdinaryDividend |
Dec 21, 2006 | $0.197 | CapitalGainLongTerm |
Sep 27, 2006 | $0.062 | OrdinaryDividend |
Jun 28, 2006 | $0.040 | OrdinaryDividend |
Mar 29, 2006 | $0.044 | OrdinaryDividend |
Dec 20, 2005 | $0.086 | OrdinaryDividend |
Sep 22, 2005 | $0.050 | OrdinaryDividend |
Jun 29, 2005 | $0.044 | OrdinaryDividend |
Mar 24, 2005 | $0.053 | OrdinaryDividend |
Dec 21, 2004 | $0.050 | OrdinaryDividend |
Dec 21, 2004 | $0.072 | ExtraDividend |
Sep 23, 2004 | $0.053 | OrdinaryDividend |
Jun 24, 2004 | $0.050 | OrdinaryDividend |
Mar 24, 2004 | $0.048 | OrdinaryDividend |
Dec 19, 2003 | $0.064 | OrdinaryDividend |
Dec 19, 2003 | $0.034 | CapitalGainShortTerm |
Sep 24, 2003 | $0.011 | OrdinaryDividend |
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.
Start Date
Tenure
Tenure Rank
Dec 01, 2020
1.5
1.5%
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 36.97 | 10.16 | 7.42 |
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