Founded in 1929, Lord Abbett managed assets worth more than $210.1 billion as of Sep 30, 2020. This privately held company has around 741 employees and 158 investment professionals dedicated to addressing its clients’ needs. Lord Abbett deals in about 59 mutual funds, investing in not only domestic and global stocks but also in fixed-income, tax-free income and multi-asset securities.
This renowned global asset manager aims to provide a wide variety of financial products and services to fulfill the needs of its investors. The company seeks successful investment performance on behalf of its clients over the long run. The three key factors that added to Lord Abbett’s success are its independent perspective, smart product design and dedication to active management.
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 National Tax Free Fund Class F (LANFX – Free Report) seeks maximization of interest income free from federal income tax. LANFX invests a bulk of its assets in municipal bonds that provide tax-exempted income. The volatility attached to the Bloomberg Barclays Municipal Bond Index is generally used by the fund as an estimate of reasonable risk. LANFX carries a Zacks Mutual Fund Rank #1 and has returned 5.4% in the past three years.
Daniel S. Solender is one of the fund managers of LANFX since 2006.
Lord Abbett Affiliated Fund Class A (LAFFX – Free Report) aims for long-term appreciation of capital and income without excessive fluctuations in market value. The fund invests the majority of assets in equity securities of large-cap companies, with market capitalization similar to those on the Russell 1000 Index. The fund manager focuses on U.S. companies that pay out dividends and have solid potential for capital growth. LAFFX carries a Zacks Mutual Fund Rank #2 and has three-year annualized returns of 8.4%.
As of the end of February 2021, LAFFX held 70 issues with 3.58% of its assets invested in JPMorgan Chase & Co.
Lord Abbett Bond Debenture Fund Class A (LBNDX – Free Report) invests a bulk of its assets in fixed income securities, including debentures and bonds. The fund may also invest heavily in high-yield securities or junk bonds. LBNDX may invest around one-fifth of its assets in various kinds of equity securities. It carries a Zacks Mutual Fund Rank #1 and has three-year annualized returns of 6%.
LBNDX has an expense ratio of only 0.79% compared with the category average of 1.00%.
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 >>