Founded in 1929, Lord Abbett managed assets worth more than $198.5 billion as of Jun 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) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.
Lord Abbett Multi-Asset Balanced Opportunity Fund Class C (BFLAX – Free Report) is a “fund-of-funds” that generally invests in affiliated mutual funds managed by Lord, Abbett & Co. LLC. BFLAX invests primarily in U.S. equity securities, fixed income securities and certain foreign securities including emerging market securities. The fund applies a blend strategy that helps it to gain exposure to both growth and value stocks. BFLAX has a three-year annualized return of 5%.
Giulio A. Martini is one of the fund managers of BFLAX since 2015.
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 has three-year annualized returns of 4.6%.
As of the end of August 2020, LAFFX held 77 issues with 3.42% of its assets invested in Microsoft Corp.
Lord Abbett High Yield Municipal Bond Fund Class A (HYMAX – Free Report) aims to provide a high level of income exempted from federal income tax. The fund invests the majority of its assets in municipal bonds. The non-diversified fund seeks to maintain a dollar-weighted average maturity between 10 and 25 years in normal conditions. HYMAX has returned 5.3% in the past three years.
HYMAXhas an expense ratio of only 0.79% compared with the category average of 0.91%.
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.
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