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 $169.3 billion in assets under management as of Sep 30, 2018. The company has about 811 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 Affiliated Fund Class F (LAAFX - Free Report) seeks long-term capital and income growth minus too much volatility in market value. The fund usually invests a minimum of 80% of its assets in equity securities of large companies. LAAFX has three and five-year annualized returns of 11% and 8.1%, respectively.
As of February 2019, LAAFX held 127 issues with 2.94% of its assets invested in Chevron Corp.
Lord Abbett Intermediate Tax Free Fund Class A (LISAX - Free Report) aims for the maximum level of interest income that is exempted from federal income tax and is on par with reasonable risks. The fund invests the majority of its assets in municipal bonds that offer federal income tax-exempted interest. LISAX has three and five-year annualized returns of 2.3% and 3.3%, respectively.
LISAX has an expense ratio of 0.70% compared with the category average of 0.76%.
Lord Abbett Developing Growth Fund Class P (LADPX - Free Report) seeks long-term capital growth by investing in a diversified and actively managed portfolio of developing growth companies, many of which are traded over the counter. The fund invests the majority of its assets in equity securities of small companies. The fund may also invest (up to 10% of its assets) in foreign companies. LADPX has three and five-year annualized returns of 23.4% and 9.3%, respectively.
F. Thomas O’Halloran is one of the fund managers of LADPX since 2001.
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.
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 >>