Founded in 1929, Lord Abbett managed assets worth over $162.4 billion as of Dec 31, 2018. This privately held company has around 809 employees and 165 investment professionals dedicated to addressing clients’ needs. Lord Abbett deals in more than 61 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 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 four 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 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 (LON:BARC) 1-15 Year Municipal Bond Index’s volatility as an approximation of reasonable risk. Lord Abbett Intermediate Tax Free A has returned 1.8% in the past three years.
LISAX has an expense ratio of 0.70% compared with the category average of 0.75%.
Lord Abbett Affiliated F LAAFX seeks appreciation of capital and income for the long run with less fluctuations in market value. LAAFX invests heavily in equity securities of those large-cap companies that are included on the Russell 1000 Index and offer high dividend and capital growth potential. Lord Abbett Affiliated F has three-year annualized returns of 8.2%.
As of November 2018, LAAFX held 128 issues with 2.91% of its assets invested inChevron Corp.
Lord Abbett Developing Growth R6 LADVX 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 R6 has three-year annualized returns 10.3%.
Vernon T Bice has been one of the fund managers of LADVX since 2018.
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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Zacks Investment Research