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 $162.4 billion in assets under management as of Dec 31, 2018. The company has around 809 employees and 164 investment professionals dedicated to address clients’ needs. Lord Abbett deals in 61 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) 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 Intermediate Tax Free A (LISAX - Free Report) invests 80% of its net assets in municipal bonds that are capable of paying interest exempt from federal tax. The fund aims for the maximum amount of interest income exempted possible from the federal income tax, with reasonable risk. LISAX uses the Bloomberg Barclays 1-15 Year Municipal Bond Index’s volatility as an approximation of reasonable risk. Lord Abbett Intermediate Tax Free A has returned 1.9% in the past three years.
LISAX has an expense ratio of 0.70% compared with the category average of 0.75%.
Lord Abbett Affiliated A (LAFFX - Free Report) seeks long-term appreciation of capital and income. The fund usually invests the lion’s share of its assets in equity securities of large companies, particularly the ones constituting the Russell 1000 Index. Lord Abbett Affiliated A has three-year annualized returns of 13.3%.
As of December 2018, this fund held 127 issues with 2.94% of its assets invested in Chevron Corp.
Lord Abbett Developing Growth Fund Inc. Class P (LADPX - Free Report) seeks long-term capital growth by investing in developing growth companies. The fund invests in companies that demonstrate long-term growth potential. Lord Abbett Developing Growth Fund has three-year annualized returns of 26.2%.
Daniel S. Solender has been one of the fund managers of LADPX since 2006.
To view the Zacks Rank and the past performance of all Franklin Templeton mutual funds, investors can click here to see the complete list of funds.
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