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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 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
5.1%
1 yr return
6.0%
3 Yr Avg Return
1.8%
5 Yr Avg Return
4.5%
Net Assets
$950 M
Holdings in Top 10
9.4%
Expense Ratio 0.53%
Front Load N/A
Deferred Load N/A
Turnover 97.00%
Redemption Fee N/A
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
For purposes of its investment objective, the Fund uses the Consumer Price Index (“CPI”) for All Urban Consumers (“CPI-U”) to measure the rate of inflation in the U.S. economy. The Fund pursues its investment objective by combining inflation-linked derivatives and inflation-indexed fixed income securities (collectively, “Inflation-Linked Investments”) with a portfolio of fixed income securities. In addition, the Fund may buy or sell Treasury futures or interest rate swaps to actively manage its portfolio duration. The use of the term “Inflation Focused” in the Fund’s name does not refer to a particular type of security in which the Fund invests; rather, it refers to its overall strategy that seeks investment returns that exceed the rate of inflation in the U.S. economy over time. In the Fund’s view, exceeding the rate of inflation in the U.S. economy could mean achieving greater gains than the CPI-U during periods of anticipated or actual inflation or sustaining smaller losses than the CPI-U during periods of anticipated or actual deflation.
The percentage of the Fund’s assets that is invested in Inflation-Linked Investments and the types of Inflation-Linked Investments used by the Fund will vary. The Fund does not seek to forecast inflationary trends, but merely seeks investment exposure through Inflation-Linked Investments. Because the Fund uses Inflation-Linked Investments as a tool to gain investment exposure, the Fund is designed for long-term investors and may not be appropriate for investors who are looking to protect their purchasing power in the near term.
The specific types of Inflation-Linked Investments that the Fund may use include:
·Inflation-Linked Derivatives: The Fund may invest substantially in inflation-linked derivatives, primarily CPI swaps. A CPI swap is a contract in which one party agrees to pay a fixed rate in exchange for a variable rate, which is the rate of change in the CPI during the life of the contract. Payments are based on a specified notional amount of principal. The Fund normally may enter into CPI swaps on a zero-coupon basis, meaning that the floating rate will be based on the cumulative CPI during the life of the contract, and the fixed rate will compound until the swap’s maturity date, at which point the payments are netted. Conversely, the Fund may enter into CPI swaps on a year-over-year basis, in which one party pays an annual fixed rate on a specified notional amount at specified intervals (i.e., monthly, annually, etc.), while the other party pays the annual year-over-year inflation rate at specified intervals.
The Fund may invest substantially in other types of derivatives for non-hedging or hedging purposes. Currently, the Fund expects to invest in derivatives consisting principally of futures, forwards, options, and swaps. 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 Fund is regulated by the Commodity Futures Trading Commission (the “CFTC”) as a commodity pool.
·Inflation-Indexed Fixed Income Securities: Inflation-indexed fixed income securities are securities whose principal and/or interest payments are adjusted for inflation, unlike traditional fixed income securities that make fixed or variable principal and interest payments. The Fund may invest in Treasury Inflation Protected Securities (“TIPS”), which are U.S. Government bonds whose principal automatically is adjusted for inflation as measured by the CPI, and other inflation-indexed securities issued by the U.S. Department of the Treasury. In addition to investing in TIPS, the Fund also may invest in sovereign inflation-indexed fixed income securities (sometimes referred to as “linkers”) issued by non-U.S. governments. To the extent that the Fund invests in such non-U.S. inflation-indexed fixed income securities that are denominated in foreign currencies, the Fund will limit such investments in accordance with the limitations described further below.
The Fund invests the remainder of its assets in fixed income securities of various types and will use such securities to cover its obligations under CPI swaps and other derivative transactions. The Fund may invest in fixed income securities with both fixed and variable interest rates. Among such fixed income securities in which the Fund may invest without limitation are investment grade:
·corporate debt securities of U.S. issuers;
·corporate debt securities of non-U.S. (including emerging market) issuers that are denominated in U.S. dollars;
·mortgage-backed, mortgage-related, and other asset-backed securities, including collateralized mortgage obligations (“CMOs”), commercial mortgage-backed securities (“CMBS”), mortgage dollar rolls, and stripped mortgage-backed securities (“SMBS”); and
·securities issued or guaranteed by the U.S. Government, its agencies and instrumentalities.
The Fund may invest up to 35% of its net assets in any one or a combination of the following types of fixed income securities and other instruments:
· high-yield debt securities (commonly referred to as “lower-rated” or “junk” bonds);
· debt securities of non-U.S. (including emerging market) issuers that are denominated in foreign currencies;
· loans, including bridge loans, novations, assignments, and participations;
· convertible securities, including convertible bonds and preferred stocks; and
·structured securities and other hybrid instruments, including collateralized loan obligations (“CLOs”).
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 seeks to manage the average duration of the securities it holds in its portfolio and hedge interest rate risk by investing in Treasury futures and interest rate swaps. The duration of a security takes into account the pattern of all expected payments of interest and principal on the security over time, including how these payments are affected by changes in interest rates.
The portfolio management team combines top-down and bottom-up analysis in its portfolio construction process. The portfolio management team takes into account several factors in its analysis, including, but not limited to, current and expected economic conditions, rising and falling interest rates, and credit quality. The portfolio management team may actively rotate sector exposure based on its assessment of relative value. 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 | LIFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.1% | -10.4% | 10.9% | 6.97% |
1 Yr | 6.0% | -11.2% | 14.4% | 11.94% |
3 Yr | 1.8%* | -16.4% | 4.9% | 13.78% |
5 Yr | 4.5%* | -7.1% | 5.3% | 3.70% |
10 Yr | 2.5%* | -2.4% | 3.5% | 9.23% |
* Annualized
Period | LIFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -0.1% | -8.7% | 5.1% | 66.83% |
2022 | -7.8% | -52.3% | -4.0% | 6.12% |
2021 | 7.6% | -7.9% | 7.7% | 3.65% |
2020 | 1.8% | -29.4% | 23.0% | 95.77% |
2019 | 0.9% | 0.8% | 16.7% | 95.74% |
Period | LIFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.1% | -10.4% | 10.9% | 6.97% |
1 Yr | 6.0% | -11.2% | 14.4% | 11.94% |
3 Yr | 1.8%* | -16.4% | 4.9% | 13.78% |
5 Yr | 4.5%* | -7.1% | 5.3% | 3.70% |
10 Yr | 2.5%* | -2.4% | 3.5% | 9.23% |
* Annualized
Period | LIFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.2% | -5.2% | 9.5% | 31.16% |
2022 | -4.7% | -40.1% | 9.2% | 17.35% |
2021 | 10.8% | -2.7% | 37.6% | 3.13% |
2020 | 6.4% | -0.5% | 27.5% | 78.31% |
2019 | 5.2% | 2.8% | 19.3% | 80.85% |
LIFIX | Category Low | Category High | LIFIX % Rank | |
---|---|---|---|---|
Net Assets | 950 M | 963 K | 51.8 B | 47.26% |
Number of Holdings | 599 | 2 | 1463 | 7.96% |
Net Assets in Top 10 | 74.2 M | 913 K | 25.5 B | 79.60% |
Weighting of Top 10 | 9.41% | 9.4% | 100.0% | 97.50% |
Weighting | Return Low | Return High | LIFIX % Rank | |
---|---|---|---|---|
Bonds | 78.64% | 0.00% | 206.20% | 91.54% |
Other | 21.76% | -58.58% | 66.48% | 5.97% |
Convertible Bonds | 2.30% | 0.00% | 3.96% | 4.48% |
Stocks | 0.00% | 0.00% | 100.03% | 16.92% |
Preferred Stocks | 0.00% | 0.00% | 1.89% | 17.41% |
Cash | 0.00% | -42.00% | 15.77% | 90.55% |
Weighting | Return Low | Return High | LIFIX % Rank | |
---|---|---|---|---|
Corporate | 50.64% | 0.00% | 50.64% | 2.49% |
Securitized | 40.31% | 0.00% | 58.03% | 5.97% |
Government | 6.70% | 6.70% | 112.97% | 97.51% |
Derivative | 5.19% | -26.67% | 16.13% | 5.97% |
Municipal | 0.02% | 0.00% | 1.28% | 24.88% |
Cash & Equivalents | 0.00% | 0.00% | 15.13% | 76.62% |
Weighting | Return Low | Return High | LIFIX % Rank | |
---|---|---|---|---|
US | 78.64% | 0.00% | 184.29% | 90.55% |
Non US | 0.00% | 0.00% | 42.19% | 45.77% |
LIFIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.53% | 0.03% | 22.29% | 60.30% |
Management Fee | 0.30% | 0.00% | 0.99% | 52.74% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.04% | 0.01% | 0.40% | 10.81% |
LIFIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 4.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
LIFIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
LIFIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 97.00% | 0.00% | 246.00% | 78.65% |
LIFIX | Category Low | Category High | LIFIX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.70% | 0.00% | 14.25% | 14.43% |
LIFIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Monthly | Monthly |
LIFIX | Category Low | Category High | LIFIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.32% | -0.06% | 6.71% | 92.42% |
LIFIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Oct 31, 2024 | $0.045 | OrdinaryDividend |
Sep 30, 2024 | $0.047 | OrdinaryDividend |
Aug 31, 2024 | $0.046 | OrdinaryDividend |
Jul 31, 2024 | $0.044 | OrdinaryDividend |
Jun 30, 2024 | $0.045 | OrdinaryDividend |
Apr 30, 2024 | $0.043 | OrdinaryDividend |
Mar 31, 2024 | $0.042 | OrdinaryDividend |
Feb 29, 2024 | $0.039 | OrdinaryDividend |
Jan 31, 2024 | $0.042 | OrdinaryDividend |
Dec 31, 2023 | $0.039 | OrdinaryDividend |
Nov 30, 2023 | $0.042 | OrdinaryDividend |
Oct 31, 2023 | $0.040 | OrdinaryDividend |
Sep 30, 2023 | $0.041 | OrdinaryDividend |
Aug 31, 2023 | $0.042 | OrdinaryDividend |
Jul 31, 2023 | $0.041 | OrdinaryDividend |
Jun 30, 2023 | $0.042 | OrdinaryDividend |
May 31, 2023 | $0.041 | OrdinaryDividend |
Apr 30, 2023 | $0.043 | OrdinaryDividend |
Mar 31, 2023 | $0.040 | OrdinaryDividend |
Feb 28, 2023 | $0.036 | OrdinaryDividend |
Jan 31, 2023 | $0.040 | OrdinaryDividend |
Dec 31, 2022 | $0.038 | OrdinaryDividend |
Dec 20, 2022 | $0.017 | OrdinaryDividend |
Nov 30, 2022 | $0.038 | OrdinaryDividend |
Oct 31, 2022 | $0.035 | OrdinaryDividend |
Sep 30, 2022 | $0.031 | OrdinaryDividend |
Aug 31, 2022 | $0.036 | OrdinaryDividend |
Jul 31, 2022 | $0.036 | OrdinaryDividend |
Jun 30, 2022 | $0.033 | OrdinaryDividend |
May 31, 2022 | $0.036 | OrdinaryDividend |
Apr 30, 2022 | $0.032 | OrdinaryDividend |
Mar 31, 2022 | $0.030 | OrdinaryDividend |
Feb 28, 2022 | $0.027 | OrdinaryDividend |
Jan 31, 2022 | $0.028 | OrdinaryDividend |
Dec 31, 2021 | $0.025 | OrdinaryDividend |
Nov 30, 2021 | $0.022 | OrdinaryDividend |
Oct 31, 2021 | $0.021 | OrdinaryDividend |
Sep 30, 2021 | $0.022 | OrdinaryDividend |
Aug 31, 2021 | $0.025 | OrdinaryDividend |
Jul 30, 2021 | $0.024 | OrdinaryDividend |
Jun 30, 2021 | $0.025 | OrdinaryDividend |
May 28, 2021 | $0.025 | OrdinaryDividend |
Apr 30, 2021 | $0.030 | OrdinaryDividend |
Mar 31, 2021 | $0.032 | OrdinaryDividend |
Feb 28, 2021 | $0.036 | OrdinaryDividend |
Jan 29, 2021 | $0.033 | OrdinaryDividend |
Dec 31, 2020 | $0.034 | OrdinaryDividend |
Nov 30, 2020 | $0.041 | OrdinaryDividend |
Oct 30, 2020 | $0.038 | OrdinaryDividend |
Sep 30, 2020 | $0.038 | OrdinaryDividend |
Aug 31, 2020 | $0.040 | OrdinaryDividend |
Jul 31, 2020 | $0.033 | OrdinaryDividend |
Jun 30, 2020 | $0.038 | OrdinaryDividend |
May 29, 2020 | $0.033 | OrdinaryDividend |
Apr 30, 2020 | $0.037 | OrdinaryDividend |
Mar 31, 2020 | $0.035 | OrdinaryDividend |
Feb 28, 2020 | $0.034 | OrdinaryDividend |
Jan 31, 2020 | $0.038 | OrdinaryDividend |
Dec 31, 2019 | $0.036 | OrdinaryDividend |
Nov 29, 2019 | $0.039 | OrdinaryDividend |
Oct 31, 2019 | $0.036 | OrdinaryDividend |
Sep 30, 2019 | $0.040 | OrdinaryDividend |
Aug 30, 2019 | $0.042 | OrdinaryDividend |
Jul 31, 2019 | $0.039 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Apr 29, 2011
11.1
11.1%
Robert A. Lee is a Partner and Chief Investment Officer at the Lord Abbett & Company. Mr. Lee joined Lord Abbett in 1997 and was named Partner in 2002. His prior experience includes: Portfolio Manager and Vice President at ARM Capital Advisors; Assistant Portfolio Manager and Assistant Vice President at Kidder Peabody Asset Management; and Fixed Income Research Analyst at The First Boston Corporation. Mr. Lee received a BS from the University of Pennsylvania. He has been in the investment business since 1991.
Start Date
Tenure
Tenure Rank
Apr 29, 2011
11.1
11.1%
Mr. Yuoh is a portfolio manager for the taxable fixed income strategies. Mr. Yuoh joined Lord Abbett in 2010, and was named Partner in 2012. His prior experience includes: Senior Vice President – Director of Fundamental Research and Senior Portfolio Manager at Alliance Bernstein, LLP; Vice President – Senior Portfolio Manager at Credit Suisse Asset Management; and Mortgage-Backed Securities Portfolio Manager at Sanford C. Bernstein & Co., Inc. Mr. Yuoh received a BS from Cornell University and has been in the investment business since 1994.
Start Date
Tenure
Tenure Rank
Apr 29, 2011
11.1
11.1%
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.
Start Date
Tenure
Tenure Rank
Apr 01, 2016
6.17
6.2%
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.
Start Date
Tenure
Tenure Rank
Apr 01, 2021
1.16
1.2%
Ms. Traub is the lead portfolio manager of the emerging market currencies strategy and director of currency management. Ms. Traub joined Lord Abbett in 2007, and was named Partner in 2012. Her prior experience includes: Research Economist at Princeton Economics Group; Research at the National Bureau of Economic Research; Research Assistant at Rutgers University; and Capital Markets Assistant at The Federal Reserve Bank of New York. Ms. Traub received a BA from the University of Chicago, an MA and a Ph.D. from Rutgers University, and has been in the investment business since 2001.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.17 | 20.51 | 6.56 | 11.1 |
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