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 around 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 AMT Free Municipal Bond A (LATAX – Free Report) invests a bulk of its assets in municipal bonds that offer a high level of income, which is free from federal income tax. Bloomberg Barclays Municipal Bond Index’s volatility is measured by the fund to approximate its reasonable risk. Lord Abbett AMT Free Municipal Bond A has three-year annualized returns of 3%.
Daniel S. Solender is one of the fund managers of LATAX since 2010.
Lord Abbett Developing Growth R6 (LADVX – Free Report) attains its investment goals through equity securities of companies that are expected to have long-term, above-average growth prospects. The fund invests more than 65% of its assets in small-cap companies. LADVX may also invest around one-tenth of its assets in non-U.S. companies. Lord Abbett Developing Growth R6has three-year annualized returns of 20.2%.
As of August 2018, LADVX held 91 issues with 2.49% of its assets invested in The Trade Desk Inc A.
Lord Abbett CA Tax-Free Income F (LCFFX – Free Report) seeks federal tax-exempted income. The fund invests heavily in muni bonds that offer interest free from federal income tax as well as California personal income tax. LCFFX attains its investment objective by measuring the Barclays Municipal Bond Index’s volatility as an estimate of reasonable risk. Lord Abbett CA Tax-Free Income F has three-year annualized returns of 3%.
LCFFX has an expense ratio of 0.69% compared with the category average of 0.84%.
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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