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Renowned global asset manager Lord Abbett aims to provide a wide variety of financial products and services to fulfill the needs of investors. The company seeks to achieve successful investment performance on behalf of its clients for 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.
Founded in 1929, this privately held company manages assets worth over $ 135.9 billion (as of September 30, 2016). The company has around 805 employees dedicated to address clients’ needs. Lord Abbett deals in more than 58 mutual funds investing in not only domestic and global stocks but also in fixed-income, tax-free income and multi-asset securities.
Lord Abbett National Tax-Free Income F (LANFX - Free Report) seeks income free from federal income tax. LANFX invests a bulk of its assets in municipal debt securities that provide tax-exempted income. The volatility attached to the Barclays Municipal Bond Index is generally used by the fund as an estimate of reasonable risk. Lord Abbett National Tax-Free Income F has a three-year annualized return of 5.4%.
LANFXhas an expense ratio of only 0.64% compared with the category average of 0.93%.
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 a three-year annualized return of 6.7%.
As of October 2016, this fund held 564 issues with 1.54% of its assets invested in New York Liberty Dev Corp Libe Rev Bd 5%.
Lord Abbett Convertible A (LACFX - Free Report) seeks growth of income and capital. LACFX invests the majority of its assets in a variety of convertible securities issued by both domestic and foreign companies. Convertible securities normally include notes, debentures, corporate bonds and preferred and equity stocks. Lord Abbett Convertible A has a three-year annualized return of 3.5%.
LACFXhas an expense ratio of only 1.06% compared with the category average of 1.46%.
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 a three-year annualized return of 4.9%.
Philip Herman has been one of the fund managers of LANYX since 2010.
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4 Top-Rated Lord Abbett Mutual Funds for 2017
Renowned global asset manager Lord Abbett aims to provide a wide variety of financial products and services to fulfill the needs of investors. The company seeks to achieve successful investment performance on behalf of its clients for 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.
Founded in 1929, this privately held company manages assets worth over $ 135.9 billion (as of September 30, 2016). The company has around 805 employees dedicated to address clients’ needs. Lord Abbett deals in more than 58 mutual funds investing in not only domestic and global stocks but also in fixed-income, tax-free income and multi-asset securities.
Below we share with you four top-rated 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 Lord Abbett funds.
Lord Abbett National Tax-Free Income F (LANFX - Free Report) seeks income free from federal income tax. LANFX invests a bulk of its assets in municipal debt securities that provide tax-exempted income. The volatility attached to the Barclays Municipal Bond Index is generally used by the fund as an estimate of reasonable risk. Lord Abbett National Tax-Free Income F has a three-year annualized return of 5.4%.
LANFXhas an expense ratio of only 0.64% compared with the category average of 0.93%.
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 a three-year annualized return of 6.7%.
As of October 2016, this fund held 564 issues with 1.54% of its assets invested in New York Liberty Dev Corp Libe Rev Bd 5%.
Lord Abbett Convertible A (LACFX - Free Report) seeks growth of income and capital. LACFX invests the majority of its assets in a variety of convertible securities issued by both domestic and foreign companies. Convertible securities normally include notes, debentures, corporate bonds and preferred and equity stocks. Lord Abbett Convertible A has a three-year annualized return of 3.5%.
LACFXhas an expense ratio of only 1.06% compared with the category average of 1.46%.
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 a three-year annualized return of 4.9%.
Philip Herman has been one of the fund managers of LANYX since 2010.
To view the Zacks Rank and past performance of all Lord Abbett mutual funds, investors can click here to see the complete list of Lord Abbett funds.
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