Lord Abbett is a renowned global asset manager that seeks to come up with a successful investment performance on behalf of its clients for the long run. The company aims to provide a wide variety of financial products and services to fulfill the needs of its investors. The three key factors that have added to Lord Abbett’s success are its independent perspective, smart product design and dedication to active management.
This New Jersey-based company was founded in November 1929 and had around $198.5 billion in assets under management as of Jun 30, 2020. The company has about 741 employees and 158 investment professionals dedicated to address clients’ needs. Lord Abbett deals in 59 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 three 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 funds.
Lord Abbett High Yield Municipal Bond Fund Class A (HYMAX - Free Report) aims to provide a high level of income exempted from federal income tax. The fund invests the majority of its assets in municipal bonds. The non-diversified fund seeks to maintain a dollar-weighted average maturity of between 10 and 25 years in normal conditions. HYMAX has returned 5.1% in the past three years.
As of the end of July 2020, HYMAX held 617 issues with 2.53% of its assets invested in BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5%.
Lord Abbett Multi-Asset Balanced Opportunity Fund Class A (LABFX - Free Report) is a "fund-of-funds" that generally invests in affiliated mutual funds managed by Lord, Abbett & Co. LLC. LABFX invests primarily in U.S. equity securities and fixed income securities. The fund applies a blend strategy that helps it to gain exposure to both growth and value stocks. LABFX has a three-year annualized return of 5.5%.
Giulio A. Martini is one of the fund managers of LABFX since 2015.
Lord Abbett Developing Growth Fund Class R3 (LADRX - Free Report) seeks capital growth over the long term by investing in a well-diversified portfolio of developing growth companies. The fund invests the majority of assets in equity securities of small companies and may also invest up to 10% of assets in securities of non-U.S. companies. LADRX has three-year annualized returns of 24.7%.
LDMAX has an expense ratio of 1.19% compared with the category average of 1.22%.
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.
Want key mutual fund info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>