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 $157.7 billion in assets under management as of Mar 31, 2018. The company has around 798 employees and 160 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 High Yield Municipal Bond A HYMAX seeks maximization of income free from federal income tax. HYMAX invests a major portion of its assets in municipal bonds that will offer interest income free from federal income tax. HYMAX aims to attain a dollar-weighted average maturity ranging from 10 to 25 years. Lord Abbett High Yield Municipal Bond A returned 5% over the last one-year period.
Daniel S. Solender is the fund manager of HYMAX since 2006.
Lord Abbett Income A LAGVX seeks growth of income as well as capital preservation. LAGVX invests more than 65% of its assets in investment grade debt securities including U.S. government-affiliated securities, domestic and foreign corporate bonds, mortgage-backed and asset-backed securities. Lord Abbett Income A has one-year annualized returns of 1.5%.
As of March 2018, this fund held 612 issues with 2.14% of its assets invested in US Treasury Note 2.375%.
Lord Abbett Floating Rate A LFRAX seeks growth of income. LFRAX invests a large chunk of its assets in floating or adjustable rate senior loans. The fund may also invest one-fourth of its assets in various other short-term instruments and debt securities. Lord Abbett Floating Rate A returned 4.3% over the past year.
LFRAX has an expense ratio of 0.79% compared with the category average of 1.08%.
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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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (HYMAX): Fund Analysis Report Get Your Free (LFRAX): Fund Analysis Report Get Your Free (LAGVX): Fund Analysis Report To read this article on Zacks.com click here. Zacks Investment Research