STATEMENT OF ADDITIONAL INFORMATION

APRIL 1, 2023

LORD ABBETT INVESTMENT TRUST

                 

Lord Abbett Multi-Asset Balanced Opportunity Fund

 

Lord Abbett Core Fixed Income Fund

     

CLASS

TICKER

CLASS

TICKER

 

CLASS

TICKER

CLASS

TICKER

A

LABFX

R2

BLAQX

 

A

LCRAX

R2

LCRQX

C

BFLAX

R3

BLARX

 

C

LCRCX

R3

LCRRX

F

BLAFX

R4

BLASX

 

F

LCRFX

R4

LCRSX

F3

LOBFX

R5

BLATX

 

F3

LCROX

R5

LCRTX

I

LABYX

R6

BLAVX

 

I

LCRYX

R6

LCRVX

P

LABPX

     

P

N/A

   
                 

Lord Abbett Multi-Asset Income Fund

 

Lord Abbett Core Plus Bond Fund

     

CLASS

TICKER

CLASS

TICKER

 

CLASS

TICKER

CLASS

TICKER

A

ISFAX

R2

LIGQX

 

A

LAPLX

R2

N/A

C

ISFCX

R3

LIXRX

 

C

LAPCX

R3

LAPQX

F

LIGFX

R4

LIXSX

 

F

LPLFX

R4

LAPUX

F3

ISFOX

R5

LIXTX

 

F3

LOPLX

R5

LAPVX

I

ISFYX

R6

LIXVX

 

I

LAPIX

R6

LAPWX

P

N/A

             
                 

Lord Abbett Convertible Fund

 

Lord Abbett Corporate Bond Fund

     

CLASS

TICKER

CLASS

TICKER

 

CLASS

TICKER

CLASS

TICKER

A

LACFX

R2

LBCQX

 

A

LBCAX

R2

LCBQX

C

LACCX

R3

LCFRX

 

C

LBCCX

R3

LRCBX

F

LBFFX

R4

LCFSX

 

F

LCCFX

R4

LBCSX

F3

LOCFX

R5

LCFTX

 

F3

LBCOX

R5

LBCUX

I

LCFYX

R6

LCFVX

 

I

LICIX

R6

LBCVX

P

LCFPX

             

                 
                 

Lord Abbett Floating Rate Fund

 

Lord Abbett Short Duration Core Bond Fund

     

CLASS

TICKER

CLASS

TICKER

 

CLASS

TICKER

CLASS

TICKER

A

LFRAX

R2

LFRRX

 

A

LDCAX

R2

N/A

C

LARCX

R3

LRRRX

 

C

LDCCX

R3

LDCRX

F

LFRFX

R4

LRRKX

 

F

LDCFX

R4

LSCSX

F3

LFROX

R5

LRRTX

 

F3

LSCOX

R5

LSCUX

I

LFRIX

R6

LRRVX

 

I

LSCIX

R6

LDCVX

                 
                   

Lord Abbett High Yield Fund

 

Lord Abbett Short Duration Income Fund

     

CLASS

TICKER

CLASS

TICKER

 

CLASS

TICKER

CLASS

TICKER

A

LHYAX

R2

LHYQX

 

A

LALDX

R2

LDLQX

C

LHYCX

R3

LHYRX

 

C

LDLAX

R3

LDLRX

F

LHYFX

R4

LHYSX

 

F

LDLFX

R4

LDLKX

F3

LHYOX

R5

LHYTX

 

F3

LOLDX

R5

LDLTX

I

LAHYX

R6

LHYVX

 

I

LLDYX

R6

LDLVX

P

LHYPX

     

P

N/A

   
         
                 

Lord Abbett Income Fund

 

Lord Abbett Total Return Fund

     

CLASS

TICKER

CLASS

TICKER

 

CLASS

TICKER

CLASS

TICKER

A

LAGVX

R2

LAUQX

 

A

LTRAX

R2

LTRQX

C

LAUSX

R3

LAURX

 

C

LTRCX

R3

LTRRX

F

LAUFX

R4

LAUKX

 

F

LTRFX

R4

LTRKX

F3

LOGVX

R5

LAUTX

 

F3

LTROX

R5

LTRTX

I

LAUYX

R6

LAUVX

 

I

LTRYX

R6

LTRHX

P

N/A

     

P

LTRPX

   
     

Lord Abbett Inflation Focused Fund

 

Lord Abbett Ultra Short Bond Fund

     

CLASS

TICKER

CLASS

TICKER

 

CLASS

TICKER

CLASS

TICKER

A

LIFAX

R2

LIFQX

 

A

LUBAX

I

LUBYX

C

LIFCX

R3

LIFRX

 

A1

LUSNX

R5

LUBVX

F

LIFFX

R4

LIFKX

 

F

LUBFX

R6

LUBWX

F3

LIFOX

R5

LIFTX

 

F3

LUBOX

   

I

LIFIX

R6

LIFVX

         
                 
             
                 
                 



This SAI is not a prospectus. A prospectus may be obtained from your financial intermediary or from the Distributor at 90 Hudson Street, Jersey City, NJ 07302-3973. This SAI is divided into two Parts - Part I and Part II. Part I contains information that is particular to the Funds offered in this SAI, and should be read in conjunction with the prospectus for Lord Abbett Investment Trust, dated April 1, 2023, as supplemented from time to time. Part I includes information about the Funds, including investment policies, management fees paid by the Funds, and information about other fees applicable to and services provided to the Funds. Part II contains additional information that more generally applies to the Lord Abbett Funds.

Each Fund’s audited financial statements are incorporated into this SAI  by reference to the Funds’ most recent annual report. The Funds’ annual and semiannual reports to shareholders are available without charge, upon request by calling 888-522-2388. In addition, you can make inquiries through your financial intermediary.


 

PART I
TABLE OF CONTENTS

PAGE

     

1.

GLOSSARY

1-1

2.

FUND INFORMATION

2-1

3.

INVESTMENT POLICIES

3-1

4.

FUND INVESTMENTS

4-1

5.

BOARD MEMBERS

5-1

6.

INVESTMENT ADVISORY AND OTHER SERVICES, FEES, AND EXPENSES

6-1

7.

PORTFOLIO MANAGER INFORMATION

7-1

8.

SECURITIES LENDING

8-1

9.

CONTROL PERSONS AND PRINCIPAL SHAREHOLDERS

9-1

10.

FINANCIAL STATEMENTS

10-1


1.
GLOSSARY

Lord Abbett Investment Trust is comprised of the following Funds:

Lord Abbett Multi-Asset Balanced Opportunity Fund: Multi-Asset Balanced Opportunity Fund

Lord Abbett Multi-Asset Income Fund: Multi-Asset Income Fund

Lord Abbett Convertible Fund: Convertible Fund

Lord Abbett Core Fixed Income Fund: Core Fixed Income Fund

Lord Abbett Core Plus Bond Fund: Core Plus Bond Fund

Lord Abbett Corporate Bond Fund: Corporate Bond Fund

Lord Abbett Floating Rate Fund: Floating Rate Fund

Lord Abbett High Yield Fund: High Yield Fund

Lord Abbett Income Fund: Income Fund

Lord Abbett Inflation Focused Fund: Inflation Focused Fund

Lord Abbett Short Duration Core Bond Fund: Short Duration Core Bond Fund

Lord Abbett Short Duration Income Fund: Short Duration Income Fund

Lord Abbett Total Return Fund: Total Return Fund

Lord Abbett Ultra Short Bond Fund: Ultra Short Bond Fund

Lord Abbett Funds are comprised of the following management investment companies:

Lord Abbett Affiliated Fund, Inc.: Affiliated Fund

Lord Abbett Bond Debenture Fund, Inc.: Bond Debenture Fund

Lord Abbett Credit Opportunities Fund: Credit Opportunities Fund

Lord Abbett Developing Growth Fund, Inc.: Developing Growth Fund

Lord Abbett Floating Rate High Income Fund: Floating Rate High Income Fund

Lord Abbett Global Fund, Inc.: Global Fund

Lord Abbett Investment Trust: Investment Trust

Lord Abbett Mid Cap Stock Fund, Inc.: Mid Cap Stock Fund

Lord Abbett Municipal Income Fund, Inc.: Municipal Income Fund

Lord Abbett Research Fund, Inc.: Research Fund

Lord Abbett Securities Trust: Securities Trust

Lord Abbett Series Fund, Inc.: Series Fund

Lord Abbett Special Situations Income Fund: Special Situations Income Fund

Lord Abbett Trust I: Trust I

Part I

1-1


Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc.: Money Market Fund

Part I

1-2


   

1933 Act

Securities Act of 1933, as amended

1940 Act

Investment Company Act of 1940, as amended

Board

Board of Trustees

Board Member(s)

Trustee(s) of the Board

CDSC

Contingent deferred sales charge

CEA

Commodity Exchange Act, as amended

CPO

Commodity pool operator

Distributor

Lord Abbett Distributor LLC

Fund(s)

Each separate investment portfolio of a Registrant or, if a Registrant has only a single investment portfolio, the Registrant

Fund(s)-of-Funds

Multi-Asset Balanced Opportunity Fund and Multi-Asset Income Fund

Independent Board Member(s)

Trustee(s) of the Board who are not “interested persons” as defined in the 1940 Act, of each Fund

Interested Board Member(s)

Trustee(s) of the Board who are not Independent Board Members

Lord Abbett

Lord, Abbett & Co. LLC

Moody’s

Moody’s Investors Service, Inc.

NYSE

New York Stock Exchange

Registrant

Investment Trust

Rule 12b-1 Plan

Distribution and/or Shareholder Service Plan adopted under Rule

12b-1 (under the 1940 Act)

S&P

S&P Global Ratings

SAI

Statement of Additional Information

SEC

United States Securities and Exchange Commission

Underlying Funds

Affiliated mutual funds managed by Lord Abbett

   

Part I

1-3


2.
FUND INFORMATION

The Registrant is an open-end management investment company registered under the 1940 Act. All Funds are diversified within the meaning of the 1940 Act. The tables below set forth information about the Registrant’s organization and portfolio turnover information for certain Funds.

Registrant Organization

         

Registrant

Form of Organization

Date of Organization

Number of Funds

Shares Available for Issuance

Investment Trust

Delaware statutory trust

August 16, 1993

14

Unlimited

Portfolio Turnover

     

Fund

Fiscal Year 2021

Turnover Rate

Fiscal Year 2022

Turnover Rate

Convertible Fund

154%

165%

Core Fixed Income Fund

492%

541%

Core Plus Bond Fund

258%

407%

Short Duration Core Bond Fund

220%

176%

Total Return Fund

393%

461%

     

The changes in portfolio turnover over the last two fiscal years for each Fund included in the table above were primarily due to trading strategies employed by the Fund’s portfolio management team in response to market conditions and shareholder cash flow activity, and not reflective of a material change in the Fund’s principal investment strategies.

Part I

2-1


3.
INVESTMENT POLICIES

Fundamental Investment Restrictions. Each Fund’s investment objective cannot be changed without the approval of a “majority of the Fund’s outstanding shares,”1 except for the investment objective of each of Corporate Bond Fund and Short Duration Core Bond Fund, which may be changed by the Board without shareholder approval. Each Fund also is subject to the following fundamental investment restrictions that cannot be changed without the approval of a majority of each Fund’s outstanding shares.

Each Fund may not:

1. borrow money, except that (i) it may borrow from banks (as defined in the 1940 Act)2 in amounts up to 33⅓% of its total assets (including the amount borrowed), (ii) it may borrow up to an additional 5% of its total assets for temporary purposes, (iii) it may obtain such short-term credit as may be necessary for the clearance of purchases and sales of portfolio securities, (iv) it may purchase securities on margin to the extent permitted by applicable law,3 and (v) it may borrow money from other Lord Abbett Funds to the extent permitted by applicable law and any exemptive relief obtained by the Fund;

2. pledge its assets (other than to secure borrowings, or to the extent permitted by each Fund’s investment policies as permitted by applicable law);4

3. engage in the underwriting of securities, except pursuant to a merger or acquisition or to the extent that, in connection with the disposition of its portfolio securities, it may be deemed to be an underwriter under federal securities laws;

4. with respect to Core Plus Bond Fund, Corporate Bond Fund, and Short Duration Core Bond Fund, make loans to other persons, except that (i) the acquisition of bonds, debentures, or other corporate debt securities and investments in government obligations, commercial paper, pass-through instruments, certificates of deposit, bankers’ acceptances, repurchase agreements, or any similar instruments shall not be subject to this limitation, (ii) the Fund may lend its portfolio securities, provided that the lending of portfolio securities may be made only in accordance with applicable law, and (iii) the Fund may lend money to other Lord Abbett Funds to the extent permitted by applicable law and any exemptive relief obtained by the Fund;

with respect to Floating Rate Fund, make loans, except that the Fund may (i) lend portfolio securities in accordance with the Fund’s investment policies, (ii) enter into repurchase agreements, (iii) purchase all or a portion of an issue of publicly distributed debt securities, bank loan interests (including novations, assignments, and participations), bank certificates of deposit, acceptances, debentures, or other securities, whether or not the purchase is made upon the original issuance of the securities, (iv) participate in a credit facility whereby the Fund may directly lend to and borrow money from other affiliated funds to the extent permitted under the 1940 Act or an exemption therefrom, and (v) make loans in any other manner consistent with applicable law, as amended and interpreted or modified from time to time by any regulatory authority having jurisdiction;

   
   
   

1   A “majority of the Fund’s outstanding shares” means the vote of the lesser of (1) 67% or more of the voting securities present at a shareholder meeting, provided that more than 50% of the outstanding voting securities of the Fund are present at the meeting or represented by proxy, or (2) more than 50% of the outstanding voting securities of the Fund regardless of whether such shareholders are present at the meeting (or represented by proxy).

2  The term “bank” is defined in Section 2(a)(5) of the 1940 Act.

3  SEC staff guidance currently prohibits a Fund from purchasing any security on margin, except such short-term credits as are necessary for the clearance of transactions.

4  For the purpose of this restriction the deposit of assets in a segregated account with a Fund’s custodian in connection with any of the Fund’s investment transactions is not considered to be a pledge of the Fund’s assets.

Part I

3-1


with respect to Inflation Focused Fund, make loans to other persons, except that the acquisition of bonds, debentures, or other corporate debt securities and investments in government obligations, commercial paper, pass-through instruments, certificates of deposit, bankers’ acceptances, repurchase agreements, or any similar instruments shall not be subject to this limitation, and except further that the Fund may lend money to other Lord Abbett Funds to the extent permitted by applicable law and any exemptive relief obtained by the Fund;
with respect to each Fund except Core Plus Bond Fund, Floating Rate Fund, and Inflation Focused Fund, make loans to other persons, except that (i) the acquisition of bonds, debentures, or other corporate debt securities and investments in government obligations, commercial paper, pass-through instruments, certificates of deposit, bankers’ acceptances, repurchase agreements, or any similar instruments shall not be subject to this limitation, and (ii) the Fund may lend its portfolio securities, provided that the lending of portfolio securities may be made only in accordance with applicable law, and (iii) the Fund may lend money to other Lord Abbett Funds to the extent permitted by applicable law and any exemptive relief obtained by the Fund;

5. buy or sell real estate (except that each Fund may invest in securities directly or indirectly secured by real estate or interests therein or issued by companies, which invest in real estate or interests therein), or commodities or commodity contracts (except to the extent each Fund may do so in accordance with applicable law and without registering as a CPO under the CEA as, for example, with futures contracts);

6. with respect to 75% of each Fund’s gross assets, buy securities of one issuer representing more than (i) 5% of each Fund’s gross assets, except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities, and for each of the Fund-of-Funds, securities issued by an investment company or (ii) 10% of the voting securities of such issuer;5

7. with respect to Convertible Fund, Floating Rate Fund, High Yield Fund, Income Fund, Inflation Focused Fund, Multi-Asset Balanced Opportunity Fund, Multi-Asset Income Fund, and Short Duration Income Fund, invest more than 25% of its assets, taken at market value, in the securities of issuers in any particular industry excluding securities of the U.S. Government, its agencies and instrumentalities;

8. with respect to Corporate Bond Fund, invest more than 25% of its assets, taken at market value, in the securities of issuers in any particular industry;

9. with respect to Core Fixed Income Fund, Core Plus Bond Fund, Short Duration Core Bond Fund, and Total Return Fund, invest more than 25% of its assets, taken at market value, in the securities of issuers in any particular industry (excluding securities of the U.S. Government, its agencies and instrumentalities, and mortgage-backed securities as described under “Mortgage-Related and other Asset-Backed Securities” below); or

10. with respect to Ultra Short Bond Fund, invest more than 25% of its assets, taken at market value, in the securities of issuers in any particular industry (excluding securities of the U.S. Government, its agencies and instrumentalities, and the financial services industry); or

11. issue senior securities to the extent such issuance would violate applicable law.6

   
   
   

5  For purposes of this fundamental investment restriction, the term “gross assets” means “total assets.”

6  Current federal securities laws prohibit each Fund from issuing senior securities (which generally are defined as securities representing indebtedness), except that the Fund may borrow money from banks in amounts of up to 33⅓% of its total assets (including the amount borrowed).

Part I

3-2


Compliance with these fundamental investment restrictions will be determined at the time of the purchase or sale of the security, except in the case of the first fundamental investment restriction, with which the Funds must comply on a continuous basis. For purposes of these restrictions, the Funds, with the exception of Ultra Short Bond Fund, do not consider mortgage-related securities, including commercial mortgage-backed securities and other privately issued mortgage-related securities, as representing interests in any particular industry or group of industries.

Non-Fundamental Investment Restriction. Each Fund also is subject to the following non-fundamental investment restriction that may be changed by the Registrant’s Board without shareholder approval.

Each Fund may not invest in securities issued by other investment companies as defined in the 1940 Act, except to the extent permitted by applicable law. A Fund may not, however, rely on Sections 12(d)(1)(F) and 12(d)(1)(G) of the 1940 Act.

Part I

3-3


4.
FUND INVESTMENTS

The following table identifies the investment types and techniques that Lord Abbett may use in managing the Funds. A more detailed description of these investment types and techniques, along with the risks associated with each, is contained in the “Additional Information on Portfolio Investments, Risks, and Techniques” section of Part II. A Fund may use any or all of these investment types and techniques indicated below at any one time, and the fact that a Fund may use a particular investment type or technique does not mean that it will be used. A Fund’s transactions in a particular investment type or use of a particular technique is subject to the limitations imposed by the Fund’s investment objective, policies, and restrictions described in the Funds’ prospectus and in this SAI, as well as the federal securities laws. A Fund may receive instruments or investments not contemplated herein through the conversion or exchange of a permissible investment or as a result of the reorganization or bankruptcy of the issuer of an otherwise permissible investment, and the Fund may hold or dispose of these instruments or investments at its discretion.

Please refer to the applicable Fund’s prospectus and the fundamental and non-fundamental investment restrictions in the “Investment Policies” section of Part I for more information on any applicable limitations.

         

MULTI-ASSET FUNDS

       

Investment Type

       
 

Multi-Asset Balanced
Opportunity Fund

Multi-Asset Income Fund

   

Bank Loans

X

X

   

Cash/Short-Term Instruments and Money Market Investments

X

X

   

Convertible Securities

X

X

   

Synthetic Convertible Securities

X

X

   

Debt Securities

X

X

   

High-Yield Debt Securities

X

X

   

Municipal Bonds

X

X

   

Non-U.S. Gov’t and Supranational Debt Securities

X

X

   

U.S. Government Securities

X

X

   

Zero Coupon Bonds

X

X

   

Depositary Receipts

X

X

   

Derivatives

X

X

   

Commodity-Related Investments

X

X

   

Credit Default Swaps and Similar Instruments

X

X

   

Forward Contracts

X

X

   

Futures Contracts

X

X

   

Options Contracts

X

X

   

Swap Agreements

X

X

   

Equity Securities

X

X

   

Common Stocks

X

X

   

IPOs

X

X

   

Preferred Stocks

X

X

   

Warrants and Rights

X

X

   

Foreign Currency Transactions

X

X

   

Foreign Securities

X

X

   

Emerging Market Securities

X

X

   

Illiquid Securities

X

X

   

Mortgage-Related and Asset-Backed Securities and Other Collateralized

X

X

   

Part I

4-1


         

MULTI-ASSET FUNDS

       

Investment Type

       
 

Multi-Asset Balanced
Opportunity Fund

Multi-Asset Income Fund

   

Obligations

       

Other Investment Companies

X

X

   

REITs

X

X

   

Short Sales

X

X

   

Structured Notes and Other Hybrid Instruments

X

X

   
         

FIXED INCOME FUNDS

       

Investment Type

       
 

Convertible Fund

Core Fixed Income Fund

Core Plus Bond Fund

Corporate Bond Fund

Bank Loans

 

X

X

X

Cash/Short-Term Instruments and Money Market Investments

X

X

X

X

Convertible Securities

X

X

X

 

Synthetic Convertible Securities

X

X

X

 

Debt Securities

X

X

X

X

High-Yield Debt Securities

X

X

X

X*

Municipal Bonds

X

X

X

X

Non-U.S. Gov’t and Supranational Debt Securities

 

X

X

X

U.S. Government Securities

X

X

X

X

Zero Coupon Bonds

X

X

X

X

Depositary Receipts

X

X

X

X

Derivatives

X

X

X

X

Commodity-Related Investments

       

Credit Default Swaps and Similar Instruments

X

X

X

X

Forward Contracts

X

X

X

X

Futures Contracts

X

X

X

X

Options Contracts

X

X

X

X

Swap Agreements

X

X

X

X

Equity Securities

X

     

Common Stocks

X

     

IPOs

X

     

Preferred Stocks

X

     

Warrants and Rights

X

     

Foreign Currency Transactions

X

X

X

X

Foreign Securities

X

X

X

X

Emerging Market Securities

X

X

X

X

Illiquid Securities

X

X

X

X

Mortgage-Related and Asset-Backed Securities and Other Collateralized Obligations

 

X

X

X

Other Investment Companies

X

X

X

X

REITs

X

X

X

X

Short Sales

X

X

X

X

Structured Notes and Other Hybrid Instruments

X

X

X

X

Part I

4-2


         

FIXED INCOME FUNDS

       

Investment Type

       
 

Floating Rate Fund

High Yield Fund

Income Fund

Inflation Focused Fund

Bank Loans

X

X

X

X

Cash/Short-Term Instruments and Money Market Investments

X

X

X

X

Convertible Securities

X

X

X

X

Synthetic Convertible Securities

X

X

X

X

Debt Securities

X

X

X

X

High-Yield Debt Securities

X

X

X

X

Municipal Bonds

X

X

X

X

Non-U.S. Gov’t and Supranational Debt Securities

 

X

X

X

U.S. Government Securities

X

X

X

X

Zero Coupon Bonds

X

X

X

X

Depositary Receipts

X

X

X

X

Derivatives

X

X

X

X

Commodity-Related Investments

     

X

Credit Default Swaps and Similar Instruments

X

X

X

X

Forward Contracts

X

X

X

X

Futures Contracts

X

X

X

X

Options Contracts

X

X

X

X

Swap Agreements

X

X

X

X

Equity Securities

X

X

X

X

Common Stocks

X

X

   

IPOs

X

X

   

Preferred Stocks

X

X

X

X

Warrants and Rights

 

X

X

X

Foreign Currency Transactions

X

X

X

X

Foreign Securities

X

X

X

X

Emerging Market Securities

X

X

X

X

Illiquid Securities

X

X

X

X

Mortgage-Related and Asset-Backed Securities and Other Collateralized Obligations

X

X

X

X

Other Investment Companies

X

X

X

X

REITs

X

X

X

X

Short Sales

X

X

X

X

Structured Notes and Other Hybrid Instruments

X

X

X

X

         

FIXED INCOME FUNDS

       

Investment Type

       
 

Short Duration Core Bond Fund

Short Duration Income Fund

Total Return Fund

Ultra Short Bond Fund

Bank Loans

X

X

X

X

Cash/Short-Term Instruments and

X

X

X

X

Part I

4-3


         

FIXED INCOME FUNDS

       

Investment Type

       
 

Short Duration Core Bond Fund

Short Duration Income Fund

Total Return Fund

Ultra Short Bond Fund

Money Market Investments

       

Convertible Securities

 

X

X

 

Synthetic Convertible Securities

 

X

X

 

Debt Securities

X

X

X

X

High-Yield Debt Securities

X*

X

X

X*

Municipal Bonds

X

X

X

X

Non-U.S. Gov’t and Supranational Debt Securities

X

X

X

X

U.S. Government Securities

X

X

X

X

Zero Coupon Bonds

X

X

X

X

Depositary Receipts

X

X

X

 

Derivatives

X

X

X

X

Commodity-Related Investments

       

Credit Default Swaps and Similar Instruments

X

X

X

X

Forward Contracts

X

X

X

X

Futures Contracts

X

X

X

X

Options Contracts

X

X

X

X

Swap Agreements

X

X

X

X

Equity Securities

 

X

X

 

Common Stocks

       

IPOs

       

Preferred Stocks

 

X

X

 

Warrants and Rights

 

X

X

 

Foreign Currency Transactions

X

X

X

X

Foreign Securities

X

X

X

X

Emerging Market Securities

X

X

X

X

Illiquid Securities

X

X

X

X

Mortgage-Related and Asset-Backed Securities and Other Collateralized Obligations

X

X

X

X

Other Investment Companies

X

X

X

X

REITs

X

X

X

X

Short Sales

X

X

X

X

Structured Notes and Other Hybrid Instruments

X

X

X

X

*Each of Corporate Bond Fund, Short Duration Core Bond Fund, and Ultra Short Bond Fund may at times hold below investment grade securities (commonly referred to as “high-yield” or “junk” bonds) if it purchased securities that were considered investment grade at their time of purchase and such securities subsequently are downgraded.

Related Additional Investment Restrictions

In addition to the principal investment strategies (and related restrictions) discussed in the Funds’ prospectus, each Fund may use other investment techniques in seeking to achieve its investment objective, as set forth in the table above. The applicable investment restrictions associated with such other investment techniques are set forth below. Please see ‘‘Additional Information on Portfolio Investments, Risks, and Techniques’’ in Part II of the SAI for more information on these and the other investment techniques that may be used by the Funds.

Part I

4-4


Borrowing Money. Each Fund may borrow money to the extent permitted by its investment policies and restrictions and applicable law. When a Fund borrows money or otherwise leverages its portfolio, the value of an investment in the Fund may be more volatile and other investment risks will tend to be compounded.

Each Fund may engage in other transactions that may have the effect of creating leverage in the Fund’s portfolio, including, by way of example, derivatives transactions and reverse repurchase agreements. A Fund will generally not treat derivative transactions as borrowings of money.

Direct Investments by Funds-of-Funds. The Underlying Funds of each Fund-of-Funds are listed in “Appendix B: Underlying Funds of the Funds-of-Funds” of the Fund-of-Fund’s prospectus. Please refer to Appendix B and each Underlying Fund’s prospectus for information about the applicable investment restrictions of the Underlying Funds.

Illiquid Securities. Each Fund may invest up to 15% of its net assets in illiquid securities. An illiquid security is a security that a Fund reasonably expects cannot be sold or disposed of in then-current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the security. In determining the liquidity of an investment, a Fund may consider, among other things, the relevant market, trading and investment specific considerations of the security, including anticipated trading sizes.

Part I

4-5


5.
BOARD MEMBERS

The Board Members of the Registrant are also Board Members of each of the Lord Abbett Funds, which collectively consist of 63 funds. For more information on the Board Members, please see the “Management of the Funds” section of Part II.

Compensation

The following table sets forth the compensation accrued by the Registrant for the Independent Board Members and the total compensation paid by all Lord Abbett Funds to the Independent Board Members, including amounts payable but deferred at the option of each Independent Board Member. No Interested Board Member or officer of the Lord Abbett Funds received any compensation from the Funds for acting as a Board Member or officer. The Lord Abbett Funds currently do not offer a bonus, pension, profit-sharing, or retirement plan.

     

Board Members

For the Fiscal Year Ended November 30, 2022 Aggregate Compensation Accrued by the Registrant1

Total Compensation Paid by the Lord Abbett Funds2

Evelyn E. Guernsey

$212,256

$443,481

Julie A. Hill

220,829

466,361

Kathleen M. Lutito

215,751

457,348

James M. McTaggart

211,356

446,849

Charles O. Prince

215,728

457,348

Karla M. Rabusch

218,782

465,113

Lorin Patrick Taylor Radtke

200,069

421,849

Leah Song Richardson

201,311

424,014

Mark A. Schmid

214,486

455,183

James L.L. Tullis

288,944

608,014

1 Independent Board Members’ fees, including attendance fees for Board and committee meetings, are allocated among all Lord Abbett Funds based on the net assets of each Fund. A portion of the fees payable by each Fund to its Independent Board Members may be deferred at the option of a Board Member under an equity-based plan (the “equity-based plan”) that deems the deferred amounts to be invested in shares of a Fund for later distribution to the Board Members. The total deferred amounts for Ms. Guernsey, Ms. Hill, Ms. Lutito, Mr. McTaggart, Mr. Prince, Ms. Rabusch, Mr. Radtke, Ms. Richardson, Mr. Schmid, and Mr. Tullis are $0, $42,852, $215,751, $83,324, $142,381, $0, $140,048, $11,903, $0, and $0, respectively.

2 The second column shows total compensation, including the types of compensation described in the “For the Fiscal Year Ended November 30, 2022 Aggregate Compensation Accrued by the Registrant” column, accrued by all Lord Abbett Funds for the calendar year ended December 31, 2022, including fees of Independent Board Members that have been deferred.

Part I

5-1


Fund Ownership

The following table sets forth certain information about the dollar range of equity securities beneficially owned by each Board Member in the Registrant and all other Lord Abbett Funds as of December 31, 2022. The amounts shown include deferred compensation (including interest) to the Board Members deemed invested in Fund shares. The amounts ultimately received by the Board Members under the deferred compensation plan will be directly linked to the investment performance of the Lord Abbett Funds.

         
 

Dollar Range of Equity Securities

Board Members

Multi-Asset Balanced Opportunity Fund

Multi-Asset Income Fund

Convertible Fund

Core Fixed Income Fund

Independent Trustees

       

Evelyn E. Guernsey

$10,001 - $50,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

Julie A. Hill

$10,001 - $50,000

$10,001 - $50,000

$10,001 - $50,000

10,001 - $50,000

Kathleen M. Lutito

$1 - $10,000

$1 - $10,000

Over $100,000

$1 - $10,000

James M. McTaggart

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

Charles O. Prince

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

Karla M. Rabusch

$1 - $10,000

$1 - $10,000

Over $100,000

$1 - $10,000

Lorin Patrick Taylor Radtke

None

None

None

None

Leah Song Richardson

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

Mark A. Schmid

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

James L.L. Tullis

$1 - $10,000

$1 - $10,000

None

None

Interested Trustee

       

Douglas B. Sieg

$10,001 - $50,000

None

None

None

         
 

Dollar Range of Equity Securities

Board Members

Core Plus Bond Fund

Corporate Bond Fund

Floating Rate
Fund

High Yield Fund

Independent Trustees

       

Evelyn E. Guernsey

$1 - $10,000

$1 - $10,000

$10,001 - $50,000

$1 - $10,000

Julie A. Hill

$1 - $10,000

$1 - $10,000

$50,001 - $100,000

$50,001 - $100,000

Kathleen M. Lutito

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

James M. McTaggart

$1 - $10,000

$1 - $10,000

$10,001 - $50,000

Over $100,000

Charles O. Prince

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

Karla M. Rabusch

$1 - $10,000

$1 - $10,000

Over $100,000

Over $100,000

Lorin Patrick Taylor Radtke

None

None

None

$10,001 - $50,000

Leah Song Richardson

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

Mark A. Schmid

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

James L.L. Tullis

None

None

None

None

Interested Trustee

       

Douglas B. Sieg

None

None

None

None

Part I

5-2


         
 

Dollar Range of Equity Securities

Board Members

Income Fund

Inflation Focused Fund

Short Duration
Core Bond Fund

Short Duration Income Fund

Independent Trustees

       

Evelyn E. Guernsey

$1 - $10,000

$1 - $10,000

$1 - $10,000

$50,001 - $100,000

Julie A. Hill

$10,001 - $50,000

$1 - $10,000

$1 - $10,000

Over $100,000

Kathleen M. Lutito

$1 - $10,000

$1 - $10,000

$1 - $10,000

$10,001 - $50,000

James M. McTaggart

$1 - $10,000

$1 - $10,000

$1 - $10,000

$50,001 - $100,000

Charles O. Prince

$1 - $10,000

$1 - $10,000

$1 - $10,000

$10,001 - $50,000

Karla M. Rabusch

Over $100,000

$1 - $10,000

$1 - $10,000

Over $100,000

Lorin Patrick Taylor Radtke

None

None

None

None

Leah Song Richardson

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

Mark A. Schmid

$1 - $10,000

$1 - $10,000

$1 - $10,000

Over $100,000

James L.L. Tullis

None

Over $100,000

None

Over $100,000

Interested Trustee

       

Douglas B. Sieg

None

None

None

None

       
 

Dollar Range of Equity Securities

 

Board Members

Total Return
Fund

Ultra Short Bond Fund

Aggregate Dollar Range of Equity Securities in Lord Abbett Funds

Independent Trustees

     

Evelyn E. Guernsey

$1 - $10,000

$10,001 - $50,000

Over $100,000

Julie A. Hill

$10,001 - $50,000

Over $100,000

Over $100,000

Kathleen M. Lutito

$1 - $10,000

Over $100,000

Over $100,000

James M. McTaggart

$1 - $10,000

$10,001 - $50,000

Over $100,000

Charles O. Prince

$1 - $10,000

$1 - $10,000

Over $100,000

Karla M. Rabusch

$1 - $10,000

$1 - $10,000

Over $100,000

Lorin Patrick Taylor Radtke

None

$50,001 - $100,000

Over $100,000

Leah Song Richardson

$1 - $10,000

$1 - $10,000

$10,001 - $50,000

Mark A. Schmid

$1 - $10,000

$10,001 - $50,000

Over $100,000

James L.L. Tullis

None

None

Over $100,000

Interested Trustee

     

Douglas B. Sieg

None

None

Over $100,000

Part I

5-3


Committee Meetings

The following table sets forth the number of times each committee of the Board met during the most recent fiscal year:

             

Fiscal Year Ended

Audit Committee

ESG and Proxy Committee1

Governance Committee2

Contract Committee3

Compensation Committee4

Investment Committee5

November 30, 2022

4

4

4

2

1

3

1 Effective March 31, 2022, the Proxy Committee was renamed the ESG and Proxy Committee.

2 Effective March 31, 2022, the Nominating and Governance Committee was renamed the Governance Committee.

3 Effective March 31, 2022, the Contract Committee was eliminated, with its responsibilities assumed by the Independent Board Members, acting as a whole.

4 Effective March 31, 2022, the Compensation Committee was eliminated, with its responsibilities assumed by the Governance Committee.

5 The Investment Committee was organized on March 31, 2022.

Part I

5-4


6.
INVESTMENT ADVISORY AND OTHER SERVICES, FEES, AND EXPENSES

For more information on Lord Abbett, please see the “Investment Adviser” section of Part II.

Lord Abbett is each Fund’s investment adviser. Lord Abbett is a privately held investment adviser. Lord Abbett’s address is 90 Hudson Street, Jersey City, NJ 07302-3973.

Under the Management Agreements between Lord Abbett and Investment Trust, on behalf of each Fund, Lord Abbett is entitled to an annual management fee based on each Fund’s average daily net assets. The management fee is allocated to each class of shares based upon the relative proportion of each Fund’s net assets represented by that class.

For certain Funds, Lord Abbett has contractually agreed to waive a portion of its fees and reimburse certain expenses. These agreements may be terminated only by the Funds’ Board.

Each Fund pays all expenses attributable to its operations not expressly assumed by Lord Abbett, including, without limitation, Rule 12b-1 Plan expenses, Independent Board Members’ fees and expenses, association membership dues, legal and auditing fees, taxes, transfer and dividend disbursing agent fees, shareholder servicing costs, expenses relating to shareholder meetings, expenses of registering its shares under federal and state securities laws, expenses of preparing, printing and mailing prospectuses and shareholder reports to existing shareholders, insurance premiums, and other expenses connected with executing portfolio transactions.

Management Fee Rates
The management fee is accrued daily, payable monthly, and calculated at the following annual rates:

   

Multi-Asset Balanced Opportunity Fund and
Multi-Asset Income Fund

0.10%

Convertible Fund

First $1 billion

0.70%

Next $1 billion

0.60%

Over $2 billion

0.57%

Core Fixed Income Fund

First $1 billion

0.24%

Next $1 billion

0.21%

Over $2 billion

0.20%

Core Plus Bond Fund and Total Return Fund

 

First $4 billion

0.28%

Next $11 billion

0.26%

Over $15 billion

0.25%

Corporate Bond Fund

First $2 billion

0.40%

Over $2 billion

0.35%

Floating Rate Fund

First $1 billion

0.50%

Over $1 billion

0.45%

Part I

6-1


   

 High Yield Fund

First $1 billion

0.60%

Next $1 billion

0.55%

Over $2 billion

0.50%

Income Fund

First $3 billion

0.38%

Next $7 billion

0.35%

Over $10 billion

0.34%

 Inflation Focused Fund

First $2 billion

0.30%

Next $3 billion

0.28%

Over $5 billion

0.26%

 Short Duration Core Bond Fund

First $1 billion

0.30%

Next $1 billion

0.25%

Over $2 billion

0.20%

Short Duration Income Fund

First $1 billion

0.35%

Next $1 billion

0.30%

Over $2 billion

0.25%

Ultra Short Bond Fund

0.17%

Management Fees Paid to Lord Abbett

The following tables set forth the management fees each Fund paid to Lord Abbett (taking into account any management fee waivers) for the last three fiscal years ended November 30th:

       
 

2020

 

Gross Management Fees

Management Fees Waived

Net Management Fees

Multi-Asset Balanced Opportunity Fund

$2,334,882

$0

$2,334,882

Multi-Asset Income Fund

1,181,500

0

1,181,500

Convertible Fund

6,165,978

0

6,165,978

Core Fixed Income Fund

4,119,154

0

4,119,154

Core Plus Bond Fund

728,028

(289,755)

438,273

Corporate Bond Fund

39,441

(39,441)

0

Floating Rate Fund

32,599,692

0

32,599,692

High Yield Fund

38,089,060

0

38,089,060

Income Fund

10,460,718

0

10,460,718

Inflation Focused Fund

2,299,443

0

2,299,443

Short Duration Core Bond Fund

222,168

(222,168)

0

Short Duration Income Fund

137,354,790

0

137,354,790

Total Return Fund

11,578,415

0

11,578,415

Ultra Short Bond Fund1

37,042,897

(2,997,362)

34,045,535

       
 

2021

 

Gross Management Fees

Management Fees Waived

Net Management Fees

Multi-Asset Balanced Opportunity Fund

$2,724,186

$0

$2,724,186

Part I

6-2


       
 

2021

 

Gross Management Fees

Management Fees Waived

Net Management Fees

Multi-Asset Income Fund

1,289,982

0

1,289,982

Convertible Fund

11,024,766

0

11,024,766

Core Fixed Income Fund

4,586,688

0

4,586,688

Core Plus Bond Fund

864,633

(110,279)

754,354

Corporate Bond Fund

46,185

(46,185)

0

Floating Rate Fund

28,489,454

0

28,489,454

High Yield Fund

41,436,957

0

41,436,957

Income Fund

11,447,978

0

11,447,978

Inflation Focused Fund

5,590,754

0

5,590,754

Short Duration Core Bond Fund

505,303

(304,956)

200,347

Short Duration Income Fund

150,704,642

0

150,704,642

Total Return Fund

11,667,743

0

11,667,743

Ultra Short Bond Fund1

32,791,962

(966)

32,790,996

       
 

2022

 

Gross Management Fees

Management Fees Waived

Net Management Fees

Multi-Asset Balanced Opportunity Fund

$2,312,061

$0

$2,312,061

Multi-Asset Income Fund

1,119,170

0

1,119,170

Convertible Fund

7,788,685

0

7,788,685

Core Fixed Income Fund

4,295,603

0

4,295,603

Core Plus Bond Fund

1,283,530

(19,191)

1,264,339

Corporate Bond Fund

28,570

(28,570)

0

Floating Rate Fund

35,098,601

0

35,098,601

High Yield Fund

30,625,080

0

30,625,080

Income Fund

10,563,432

0

10,563,432

Inflation Focused Fund

10,660,691

0

10,660,691

Short Duration Core Bond Fund

718,054

(433,843)

284,211

Short Duration Income Fund

144,173,024

0

144,173,024

Total Return Fund

9,676,666

0

9,676,666

Ultra Short Bond Fund1

24,407,067

0

24,407,067

1 Before April 1, 2020, the management fee for Ultra Short Bond Fund was calculated at 0.20%.

Contractual Fee Waivers and Expense Limitations

Lord Abbett has contractually agreed to waive its fees and/or reimburse Fund expenses to the extent necessary to limit each Fund’s total net annual operating expenses (excluding certain expenses such as fees under a Rule 12b-1 Plan and acquired fund fees and expenses) to the annual rates set forth in the following table. This agreement may be terminated only by the Fund’s Board.

       
 

Contract Period

Class F3 and R6

All Other Share Classes

Core Plus Bond Fund

April 1, 2023 - March 31, 2024

0.40%

0.48%

Corporate Bond Fund

April 1, 2023 - March 31, 2024

0.38%

0.48%

Short Duration Core Bond Fund

April 1, 2023 - March 31, 2024

0.30%

0.40%

Part I

6-3


As to Core Fixed Income Fund and Total Return Fund, for the period from April 1, 2023 through March 31, 2024, Lord Abbett has contractually agreed to waive each Fund’s Class I shareholder servicing expenses at the annual rate of 0.04% of the Fund’s average daily net assets.

Administrative Services Fees Paid to Lord Abbett
Pursuant to an Administrative Services Agreement with the Funds, Lord Abbett provides certain administrative services not involving the provision of investment advice to the Funds. The following table sets forth the administrative services fees each Fund paid to Lord Abbett for the last three fiscal years ended November 30th:

       
 

2020

 

Gross Administrative Fees

Administrative Fees Voluntarily Waived

Net Administrative Fees

Multi-Asset Balanced Opportunity Fund

$933,953

$(29,504)

$904,449

Multi-Asset Income Fund

472,600

(17,118)

455,482

Convertible Fund

355,984

(13,630)

342,354

Core Fixed Income Fund

727,584

(27,514)

700,070

Core Plus Bond Fund

104,004

(17,988)

86,016

Corporate Bond Fund

3,944

(3,944)

0

Floating Rate Fund

2,853,306

(97,672)

2,755,634

High Yield Fund

2,927,125

(104,897)

2,822,228

Income Fund

1,101,128

(56,394)

1,044,734

Inflation Focused Fund

306,592

(50,372)

256,220

Short Duration Core Bond Fund

29,622

(7,649)

21,973

Short Duration Income Fund

21,736,766

(499,308)

21,237,458

Total Return Fund

1,658,309

(77,989)

1,580,320

Ultra Short Bond Fund

8,211,480

(181,355)

8,030,125

       
 

2021

 

Gross Administrative Fees

Administrative Fees Voluntarily Waived

Net Administrative Fees

Multi-Asset Balanced Opportunity Fund

$1,089,674

$(56,778)

$1,032,896

Multi-Asset Income Fund

515,993

(43,923)

472,070

Convertible Fund

668,318

(30,651)

637,667

Core Fixed Income Fund

817,346

(58,791)

758,555

Core Plus Bond Fund

123,519

(31,589)

91,930

Corporate Bond Fund

4,618

(4,618)

0

Floating Rate Fund

2,487,951

(126,468)

2,361,483

High Yield Fund

3,194,957

(137,851)

3,057,106

Income Fund

1,206,557

(50,241)

1,156,316

Inflation Focused Fund

755,157

(57,593)

697,564

Short Duration Core Bond Fund

67,374

(15,839)

51,535

Short Duration Income Fund

23,872,743

(551,741)

23,321,002

Total Return Fund

1,671,960

(112,144)

1,559,816

Ultra Short Bond Fund

7,715,756

(271,051)

7,444,705

Part I

6-4


       
 

2022

 

Gross Administrative Fees

Administrative Fees Voluntarily Waived

Net Administrative Fees

Multi-Asset Balanced Opportunity Fund

$924,824

$(94,132)

$830,692

Multi-Asset Income Fund

447,668

(33,146)

414,522

Convertible Fund

453,380

(63,898)

389,482

Core Fixed Income Fund

761,380

(31,672)

729,708

Core Plus Bond Fund

183,362

(5,925)

177,437

Corporate Bond Fund

2,857

(2,857)

0

Floating Rate Fund

3,075,431

(72,295)

3,003,136

High Yield Fund

2,330,006

(182,172)

2,147,834

Income Fund

1,113,099

(40,681)

1,072,418

Inflation Focused Fund

1,465,813

(99,348)

1,366,465

Short Duration Core Bond Fund

95,741

(12,669)

83,072

Short Duration Income Fund

22,827,684

(582,708)

22,244,976

Total Return Fund

1,382,679

(77,811)

1,304,868

Ultra Short Bond Fund

5,742,839

(172,171)

5,570,668

Distributor

For additional information on the Distributor, please see the “Investment Advisory and Other Services, Fees, and Expenses – Distributor” section of Part II. The Distributor received no other compensation (including compensation on redemption and repurchase and brokerage commissions in connections with Fund transactions) apart from that reflected below.

The following table sets forth the net sales charge received (after allowance of a portion of the sales charge to independent dealers) by the Distributor, as the Registrant’s principal underwriter, for the last three fiscal years ended November 30th:

       
 

2020

2021

2022

Gross sales charge

$15,607,456

$15,672,054

$6,347,973

Amount allowed to dealers

13,479,634

13,584,231

5,426,401

Net commissions received by the Distributor

2,127,822

2,087,823

921,572


The following table sets forth the CDSC received by the Distributor for the last three fiscal years ended November 30th:

       
 

2020

2021

2022

CDSC received by the Distributor

$5,182,490

$2,227,699

$2,897,345

Rule 12b-1 Plan

For additional information, please see the “Investment Advisory and Other Services, Fees, and Expenses – Rule 12b-1 Plan” section of Part II.

The following table sets forth the amounts paid by each applicable class of the Funds to the Distributor pursuant to the Rule 12b-1 Plan for the fiscal year ended November 30, 2022:

         
 

Class A

Class A1

Class C

Class F

Multi-Asset Balanced Opportunity Fund

$4,926,752

N/A

$1,721,799

$48,653

Multi-Asset Income Fund

1,945,358

N/A

1,376,305

104,575

Convertible Fund

528,452

N/A

469,089

345,741

Core Fixed Income Fund

1,086,268

N/A

188,227

186,097

Core Plus Bond Fund

160,228

N/A

40,368

184,601

Corporate Bond Fund

3,279

N/A

3,577

1,810

Part I

6-5


         

Floating Rate Fund

4,065,900

N/A

4,089,075

2,055,599

High Yield Fund

1,856,410

N/A

1,699,940

1,322,275

Income Fund

2,183,445

N/A

500,435

264,388

Inflation Focused Fund

1,186,671

N/A

996,088

1,066,180

Short Duration Core Bond Fund

94,314

N/A

36,278

63,339

Short Duration Income Fund

22,828,756

N/A

22,948,959

14,790,470

Total Return Fund

2,223,261

N/A

377,510

587,431

Ultra Short Bond Fund

11,460,374

18,646

0

3,006,543

         
 

Class P

Class R2

Class R3

Class R4

Multi-Asset Balanced Opportunity Fund

$2,059

$3,736

$210,777

$31,857

Multi-Asset Income Fund

0

870

85,362

6,593

Convertible Fund

165

480

131,216

1,861

Core Fixed Income Fund

0

2,614

35,691

22,270

Core Plus Bond Fund

0

0

761

790

Corporate Bond Fund

0

150

390

63

Floating Rate Fund

0

6,246

353,903

6,163

High Yield Fund

79

32,048

507,119

207,208

Income Fund

0

7,253

261,541

12,044

Inflation Focused Fund

0

641

2,128

4,528

Short Duration Core Bond Fund

0

0

1,749

29

Short Duration Income Fund

0

51,928

1,910,743

410,877

Total Return Fund

2,647

8,235

162,181

88,481

Ultra Short Bond Fund

0

0

0

0

Brokerage Commissions

The Funds’ policy with respect to portfolio transactions and brokerage is set forth under the “Brokerage Allocation and Other Practices” section of Part II.

Brokerage Commissions Paid to Independent Broker-Dealer Firms.
The following table sets forth the total brokerage commissions on transactions of securities each Fund paid to independent broker-dealer firms for the last three fiscal years ended November 30th:

       
 

2020

2021

2022

Multi-Asset Balanced Opportunity Fund

$57,539

$74,660

$71,924

Multi-Asset Income Fund

29,071

33,954

35,440

Convertible Fund

71,561

12,764

26,548

Core Fixed Income Fund

18,440

37,307

43,201

Core Plus Bond Fund

2,988

6,863

16,395

Corporate Bond Fund

401

356

376

Floating Rate Fund

384,080

82,301

284,522

High Yield Fund

1,285,192

1,523,087

1,435,561

Income Fund

52,378

40,802

93,256

Inflation Focused Fund

26,398

40,360

128,480

Short Duration Core Bond Fund

789

1,319

6,568

Short Duration Income Fund

936,618

1,361,795

1,491,590

Total Return Fund

61,727

118,758

98,686

Ultra Short Bond Fund

N/A

38,770

20,921

The amount of brokerage commissions paid by a Fund may change from year to year because of changing asset levels, shareholder activity, and portfolio turnover, among other factors.

Part I

6-6


In addition to the purchase of research services through “commission sharing arrangements,” Lord Abbett purchased third party research services with its own resources during the past three fiscal years ended November 30th.

The following table sets forth the amount of portfolio transactions directed by each Fund to broker-dealers that provided research services for the fiscal year ended November 30, 2022, for which the Fund paid the brokerage commissions indicated:

     
 

Transactions

Commissions

Multi-Asset Balanced Opportunity Fund

$0

$5,090

Multi-Asset Income Fund

0

2,185

Convertible Fund

95,871,805

22,233

Core Fixed Income Fund

0

0

Core Plus Bond Fund

0

0

Corporate Bond Fund

0

0

Floating Rate Fund

545,065,642

146,423

High Yield Fund

1,475,585,559

670,883

Income Fund

1,066,535

177

Inflation Focused Fund

749

2

Short Duration Core Bond Fund

0

0

Short Duration Income Fund

18,179,118

2,978

Total Return Fund

5,753

12

Ultra Short Bond Fund

0

0

Regular Broker-Dealers

During the fiscal year ended November 30, 2022, each Fund acquired securities of its “regular brokers or dealers,” as that term is defined in Rule 10b-1 under the 1940 Act, that derived, or have a parent that derived, more than 15% of its gross revenues from the business of a broker, a dealer, an underwriter, or an investment adviser, as follows:

     

 

Regular Broker or Dealers

Value of the Fund’s Aggregate Holdings of the Regular Broker’s or Dealer’s or Parent’s Securities

Multi-Asset Balanced Opportunity Fund

None

None

     

Multi-Asset Income Fund

None

None

     

Convertible Fund

Merill, Lynch Pierce F & S

$9,607,635.95

     

Core Fixed Income Fund

Morgan Stanley Wealth Management

14,395,667.72

 

UBS Financial Services Inc.

4,883,821.71

 

Citigroup Global Markets

24,073,302.46

 

Wachovia Securities

17,843,505.84

 

Goldman Sachs & Co

14,713,099.42

 

Banc Of America Investment Svcs

26,713,090.88

 

Credit Suisse First Boston

385,578.20

 

J.P. Morgan Securities Inc.

36,610,568.30

     

Core Plus Bond Fund

Banc Of America Investment Svcs

9,206,368.63

 

Citigroup Global Markets

7,161,558

 

Credit Suisse First Boston

1,506,039

 

Goldman Sachs & Co

6,688,368

Part I

6-7


     
 

J.P. Morgan Securities Inc.

8,112,954

 

Morgan Stanley Smith Barney LLC

6,768,950

 

Wachovia Securities

3,967,164

     

Corporate Bond Fund

Banc Of America Investment Svcs

245,162

 

Citigroup Global Markets

123,331.97

 

Goldman Sachs & Co

110,696

 

Goldman Sachs Derivatives

110,696

 

J.P. Morgan Securities Inc.

154,887

 

Morgan Stanley Smith Barney LLC

161,847

 

Wachovia Securities

166,136

     

Floating Rate Fund

None

None

     

High Yield Fund

None

None

     

Income Fund

Morgan Stanley Wealth Management

17,555,122.60

 

Merrill Lynch

31,490,216.58

 

Wells Fargo Advisors Financial Network

25,504,769.32

 

Citigroup Global Markets

29,198,137.43

 

J.P. Morgan Securities Inc.

20,065,811.56

 

Goldman & Sachs & Co

4,035,665.27

     

Inflation Focused Fund

Morgan Stanley Wealth Management

27,920,804

 

RBC Capital Markets

4,594,461

 

UBS Financial Services Inc.

24,920,668

 

Wells Fargo Advisors PCG

5,429,125

 

Banc Of America Investment Svcs

42,290,326

 

Barclay Investments Inc

10,492,864

 

Citigroup Global Markets

32,891,274

 

Goldman Sachs Derivatives

21,734,801

 

J.P. Morgan Securities Inc.

46,601,005

     

Short Duration Core Bond Fund

JP Morgan Private Bank

4,850,876

 

Banc Of America Investment Svcs

6,983,596

 

Barclay Investments Inc

239,966

 

Citigroup Global Markets

2,515,117

 

Credit Suisse First Boston

651,904

 

Goldman & Sachs & Co

707,606

 

Mitsubishi UFJ Securities USA

1,421,408

 

Morgan Stanley Smith Barney LLC

3,683,803

 

Wachovia Securities

371,969

     

Short Duration Income Fund

Morgan Stanley Wealth Management

528,172,819

 

Merrill Lynch

1,124,539,766

 

UBS Financial Services Inc.

320,228,543

 

Wells Fargo Advisors PCG

255,045,811

 

JP Morgan Private Bank

1,275,163,130

 

Goldman Sachs & Co

608,484,155

 

Barclay Investments Inc

212,869,540

 

Citigroup Global Markets

876,218,383

     

Total Return Fund

Merrill Lynch

41,762,718

Part I

6-8


     
 

Morgan Stanley Wealth Management

32,675,926

 

Citigroup Global Markets

43,728,499

 

Credit Suisse First Boston

836,759

 

Goldman Sachs & Co

6,928,788

 

J.P. Morgan Securities Inc.

34,489,748

 

Wachovia Securities

43,417,198

     

Ultra Short Bond Fund

JP Morgan Private Bank

170,609,153

 

Merrill Lynch

456,464,481

 

Morgan Stanley Wealth Management

382,141,360

 

RBC Capital Markets

166,752,793

 

UBS Financial Services Inc.

30,752,063

 

Barclay Investments Inc

41,747,591

 

Citigroup Global Markets

99,052,396

 

Goldman Sachs & Co

402,225,464

Part I

6-9


7.
PORTFOLIO MANAGER INFORMATION

Other Accounts Managed

The following table sets forth information about the other accounts managed by the Funds’ portfolio managers as of the Funds’ fiscal year ended November 30, 2022 (or another date, if indicated). For more information, please see the “Portfolio Management Information” section of Part II. The data shown below are approximate.

Included in the Registered Investment Companies category are those U.S.-registered funds managed or sub-advised by Lord Abbett, including funds underlying variable annuity contracts and variable life insurance policies offered through insurance companies. The Other Pooled Investment Vehicles category includes collective investment funds, offshore funds and similar non-registered investment vehicles. Lord Abbett does not manage any hedge funds. The Other Accounts category encompasses retirement and benefit plans (including both defined contribution and defined benefit plans) sponsored by various corporations and other entities, individually managed institutional accounts of various corporations, other entities and individuals, and separately managed accounts in so-called wrap fee programs sponsored by financial intermediaries unaffiliated with Lord Abbett.

             
 

Number of Registered Investment Companies

Total Assets ($MM)

Number of Other Pooled Investment Vehicles

Total Assets ($MM)

Number of Other Accounts

Total Assets

($MM)

Multi-Asset Balanced
Opportunity Fund

         

Giulio Martini

2

$1,674.86

0

$0

0

$0

Robert A. Lee

14

97,793.22

11

10,678.83

747

4,326.38

Jeffrey O. Herzog

2

1,674.86

0

0

0

0

Steven F. Rocco

17

95,198.14

14

10,665.13

21

4,167.59

             

Multi-Asset Income Fund

         

Giulio Martini

2

2,765.0

0

0

0

0

Robert A. Lee

14

98,883.42

11

10,678.83

747

4,326.38

Jeffrey O. Herzog

2

2,765.0

0

0

0

0

Steven F. Rocco

17

96,288.35

14

10,665.13

21

4,167.59

             

Convertible Fund

         

Alan R. Kurtz

0

0

1

103.34

1976

748.28

Jeremy I. Lehmann

0

0

1

103.34

1976

748.28

             

Core Fixed Income Fund

         

Robert A. Lee

14

97,720.30

11

10,678.83

747

4,326.38

Kewjin Yuoh

15

96,047.87

9

8,428.00

335

112.09

Andrew H. O’Brien

14

94,129.97

8

8,398.16

26

5,477.05

Leah G. Traub

5

6,861.19

2

960.83

335

112.09

Adam C. Castle

8

67,381.48

6

7,245.10

0

0

Harris A. Trifon

5

54,835.23

4

6,066.10

0

0

             

Core Plus Bond Fund

         

Robert A. Lee

14

99,216.00

11

10,678.83

747

4,326.38

Kewjin Yuoh

15

97,543.58

9

8,428.00

335

112.09

Andrew H. O’Brien

14

95,625.68

8

8,398.16

26

5,477.05

Steven F. Rocco

16

94,532.93

14

10,665.13

21

4,167.59

Leah G. Traub

5

8,356.89

2

960.83

335

112.09

Part I

7-1


               
 

Number of Registered Investment Companies

Total Assets ($MM)

Number of Other Pooled Investment Vehicles

Total Assets ($MM)

Number of Other Accounts

Total Assets

($MM)

Adam C. Castle

8

68,877.19

6

7,245.10

0

0

Harris A. Trifon

5

56,330.94

4

6,066.10

0

0

             

Corporate Bond Fund

       

Andrew H. O’Brien

15

98,202.09

9

8,428.00

335

112.09

Kewjin Yuoh

14

96,284.19

8

8,398.16

26

5,477.05

Yoana N. Koleva

5

64,528.34

1

1,129.55

2

208.66

Eric P. Kang

3

3,696.05

1

49.45

0

0

         

Floating Rate Fund

         

Jeffery D. Lapin

1

1,147.23

3

466.99

0

0

Kearney M. Posner

1

54.34

2

417.54

0

0

Robert A. Lee

14

93,420.00

11

10,678.83

747

4,326.38

Steven F. Rocco

16

88,736.92

14

10,665.13

21

4,167.59

             

High Yield Fund

         

Steven F. Rocco

16

90,509.87

14

10,665.13

21

4,167.59

Robert A. Lee

14

95,192.95

11

10,678.83

747

4,326.38

Christopher J. Gizzo

3

22,863.40

2

3,379.97

0

0

Karen J. Gunnerson

1

149.13

1

2,271.96

0

0

             

Income Fund

         

Andrew H. O’Brien

14

93,796.41

8

8,398.16

26

5,477.05

Robert A. Lee

14

97,386.74

11

10,678.83

747

4,326.38

Kewjin Yuoh

15

95,714.31

9

8,428.00

335

112.09

Steven F. Rocco

16

$ 92,703.66

14

10,665.13

21

4,167.59

Yoana N. Koleva

5

62,040.55

1

1,129.55

2

208.66

Eric P. Kang

3

1,208.27

1

49.45

0

0

             

Inflation Focused Fund

         

Leah G. Traub

5

6,371.25

2

960.83

335

112.09

Kewjin Yuoh

15

95,557.93

9

8,428.00

335

112.09

Robert A. Lee

14

97,230.36

11

10,678.83

747

4,326.38

Andrew H. O’Brien

14

93,640.03

8

8,398.16

26

5,477.05

Steven F. Rocco

16

92,547.28

14

10,665.13

21

4,167.59

             

Short Duration Core Bond Fund

         

Andrew H. O’Brien

14

96,055.41

8

8,398.16

26

5,477.05

Kewjin Yuoh

15

97,973.31

9

8,428.00

335

112.09

Adam C. Castle

8

69,306.92

6

7,245.10

0

0

Yoana N. Koleva

5

64,299.56

1

1,129.55

2

208.66

             

Short Duration Income Fund

         

Andrew H. O’Brien

14

45,773.45

8

8,398.16

26

5,477.05

Robert A. Lee

14

49,363.78

11

10,678.83

747

4,326.38

Kewjin Yuoh

15

47,691.35

9

8,428.00

335

112.09

Steven F. Rocco

16

44,680.70

14

10,665.13

21

4,167.59

Adam C. Castle

8

19,024.97

6

7,245.10

0

0

Part I

7-2


                               
 

Number of Registered Investment Companies

Total Assets ($MM)

Number of Other Pooled Investment Vehicles

Total Assets ($MM)

Number of Other Accounts

Total Assets

($MM)

Harris A. Trifon

5

6,478.72

4

6,066.10

0

0

Yoana N. Koleva

5

14,017.60

1

1,129.55

2

208.66

             

Total Return Fund

             

Robert A. Lee

14

96,910.48

11

10,678.83

747

4,326.38

 

Kewjin Yuoh

15

95,238.06

9

8,428.00

335

112.09

 

Andrew H. O’Brien

14

93,320.16

8

8,398.16

26

5,477.05

 

Steven F. Rocco

16

92,227.40

14

10,665.13

21

4,167.59

 

Leah G. Traub

5

6,051.37

2

960.83

335

112.09

 

Adam C. Castle

8

66,571.67

6

7,245.10

0

0

 

Harris A. Trifon

5

54,025.42

4

6,066.10

0

0

 
               

Ultra Short Bond Fund

           

Yoana N. Koleva

5

53,371.51

1

1,129.55

2

208.66

 

Andrew H. O’Brien

14

85,127.36

8

8,398.16

26

5,477.05

 

Kewjin Yuoh

15

87,045.26

9

8,428.00

335

112.09

 

Adam C. Castle

8

58,378.87

6

7,245.10

0

0

 

Holdings of Portfolio Managers

The following table indicates the dollar range of securities beneficially owned by each portfolio manager in the Funds he or she manages, as of November 30, 2022 (or another date, if indicated). This table includes the value of securities beneficially owned by the portfolio managers through 401(k) plans and certain other plans or accounts, if any.

   

Ownership of Securities1

Aggregate Dollar Range of Securities

Multi-Asset Balanced Opportunity Fund

 

Giulio Martini

Over $1,000,000

Robert A. Lee

Over $1,000,000

Jeffrey O. Herzog

$10,001-$50,000

Steven F. Rocco

None

   

Multi-Asset Income Fund

 

Giulio Martini

$10,001-$50,000

Robert A. Lee

Over $1,000,000

Jeffrey O. Herzog

None

Steven F. Rocco

None

   

Convertible Fund

 

Alan R. Kurtz

$500,001-$1,000,000

Jeremy I. Lehmann

$10,001-$50,000

   

Core Fixed Income Fund

 

Robert A. Lee

Over $1,000,000

Kewjin Yuoh

None

Andrew H. O’Brien

$1-$10,000

Leah G. Traub

$10,001-$50,000

Adam C. Castle

None

Part I

7-3


   

Harris A. Trifon

None

   

Core Plus Bond Fund

 

Robert A. Lee

$500,001-$1,000,000

Kewjin Yuoh

None

Andrew H. O’Brien

$10,001-$50,000

Steven F. Rocco

None

Leah G. Traub

None

Adam C. Castle

None

Harris A. Trifon

None

   

Corporate Bond Fund

 

Andrew H. O’Brien

$10,001-$50,000

Kewjin Yuoh

None

Yoana N. Koleva

None

Eric P. Kang

None

   

Floating Rate Fund

 

Jeffery D. Lapin

$50,001-$100,000

Kearney M. Posner

$100,001-$500,000

Robert A. Lee

Over $1,000,000

Steven F. Rocco

$0

   

High Yield Fund

 

Steven F. Rocco

Over $1,000,000

Robert A. Lee

$500,001-$1,000,000

Christopher J. Gizzo

$100,001-$500,000

Karen J. Gunnerson

$10,001-$50,000

   

Income Fund

 

Andrew H. O’Brien

$10,001-$50,000

Robert A. Lee

Over $1,000,000

Kewjin Yuoh

None

Steven F. Rocco

None

Yoana N. Koleva

$10,001-$50,000

Eric P. Kang

None

   

Inflation Focused Fund

 

Leah G. Traub

$100,001-$500,000

Kewjin Yuoh

$100,001-$500,000

Robert A. Lee

Over $1,000,000

Andrew H. O’Brien

$10,001-$50,000

Steven F. Rocco

$100,001-$500,000

   

Short Duration Core Bond Fund

 

Andrew H. O’Brien

$10,001-$50,000

Kewjin Yuoh

None

Adam C. Castle

None

Yoana N. Koleva

None

   

Short Duration Income Fund

 

Andrew H. O’Brien

Over $1,000,000

Robert A. Lee

Over $1,000,000

Part I

7-4


   

Kewjin Yuoh

$100,001-$500,000

Steven F. Rocco

$100,001-$500,000

Adam C. Castle

None

Harris A. Trifon

None

Yoana N. Koleva

$100,001-$500,000

   

Total Return Fund

 

Robert A. Lee

Over $1,000,000

Kewjin Yuoh

None

Andrew H. O’Brien

$1-$10,000

Steven F. Rocco

None

Leah G. Traub

$10,001-$50,000

Adam C. Castle

None

Harris A. Trifon

None

   

Ultra Short Bond Fund

 

Yoana N. Koleva

$100,001-$500,000

Andrew H. O’Brien

Over $1,000,000

Kewjin Yuoh

None

Adam C. Castle

None

1 As of December 31, 2022.

Part I

7-5


8.
SECURITIES LENDING

The following table provides the dollar amounts of income and fees and/or compensation related to each Fund’s securities lending activities during the most recent fiscal year:

   

Convertible Fund

Gross income from securities lending activities

$288,548

Fees and/or compensation for securities lending activities and related services:

Fees paid to securities lending agent from a revenue split

$23,567

Fees paid for any cash collateral management service (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included in the revenue split

-

Administrative fees not included in revenue split

-

Indemnification fee not included in revenue split

-

Rebate (paid to borrower)

$53,027

Other fees not included in revenue split (specify)

-

Aggregate fees/compensation for securities lending activities

$76,594

Net income from securities lending activities

$211,954

 
   

Floating Rate

Gross income from securities lending activities

$826,361

Fees and/or compensation for securities lending activities and related services:

Fees paid to securities lending agent from a revenue split

$69,458

Fees paid for any cash collateral management service (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included in the revenue split

-

Administrative fees not included in revenue split

-

Indemnification fee not included in revenue split

-

Rebate (paid to borrower)

$131,782

Other fees not included in revenue split (specify)

-

Aggregate fees/compensation for securities lending activities

$201,240

Net income from securities lending activities

$625,121

 
   

High Yield Fund

Gross income from securities lending activities

$106,587

Fees and/or compensation for securities lending activities and related services:

Fees paid to securities lending agent from a revenue split

$9,494

Fees paid for any cash collateral management service (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included in the revenue split

-

Administrative fees not included in revenue split

-

Indemnification fee not included in revenue split

-

Rebate (paid to borrower)

$11,698

Other fees not included in revenue split (specify)

-

Aggregate fees/compensation for securities lending

$21,192

Part I

8-1


   

activities

 

Net income from securities lending activities

$85,395

 

Multi-Asset Balanced Opportunity Fund, Multi-Asset Income Fund, Core Fixed Income Fund, Core Plus Bond Fund, Corporate Bond Fund, Floating Rate Fund, Income Fund, Inflation Focused Fund, Short Duration Core Bond Fund, Short Duration Income Fund, Total Return Fund, and Ultra Short Bond Fund did not engage in securities lending during the Funds’ most recent fiscal year.

Citibank, N.A. (“Citibank”) acts as the securities lending agent for the Lord Abbett funds. As securities lending agent, during the last fiscal year, Citibank located borrowers for fund securities, monitored daily the value of the loaned securities and collateral, required additional collateral as necessary, negotiated loan terms, provided certain recordkeeping and account servicing, and arranged for return of loaned securities to the fund at loan termination, and, as applicable, in connection with proxy votes.

Part I

8-2


9.
CONTROL PERSONS AND PRINCIPAL SHAREHOLDERS

Shareholders beneficially owning more than 25% of outstanding shares may be in control and may be able to affect the outcome of certain matters presented for a shareholder vote. As of February 28, 2023, to the best of the Funds’ knowledge, the following persons or entities owned of record or were known by the Funds to beneficially own more than 25% of a Fund’s outstanding shares:

   

CORE FIXED INCOME FUND

 

EDWARD D JONES & CO
12555 MANCHESTER RD
SAINT LOUIS MO 63131-3710

32.35%

CORE PLUS BOND FUND

 

MORGAN STANLEY SMITH BARNEY LLC
1 NEW YORK PLZ
NEW YORK NY 10004-1965

29.80%

CORPORATE BOND FUND

 

LORD ABBETT & CO LLC
90 HUDSON ST