STATEMENT OF ADDITIONAL INFORMATION

APRIL 1, 2024

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 Floating Rate Fund

   
     

CLASS

TICKER

CLASS

TICKER

 

CLASS

TICKER

CLASS

TICKER

               

A

LACFX

R2

LBCQX

 

A

LFRAX

R2

LFRRX

C

LACCX

R3

LCFRX

 

C

LARCX

R3

LRRRX

F

LBFFX

R4

LCFSX

 

F

LFRFX

R4

LRRKX

F3

LOCFX

R5

LCFTX

 

F3

LFROX

R5

LRRTX

I

LCFYX

R6

LCFVX

 

I

LFRIX

R6

LRRVX

               

P

LCFPX

             

                 
                 
     

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

         
                 
   
     

Lord Abbett Short Duration Core Bond Fund

   
     

CLASS

TICKER

CLASS

TICKER

         

A

LDCAX

R2

N/A

         

C

LDCCX

R3

LDCRX

         

F

LDCFX

R4

LSCSX

         

F3

LSCOX

R5

LSCUX

         

I

LSCIX

R6

LDCVX

         
                 
             
                 
                 

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 the Funds offered in this SAI, dated April 1, 2024, 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 ITABLE 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 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.

Registrant Organization

         

Registrant

Form of Organization

Date of Organization

Number of Funds

Shares Available for Issuance

Investment Trust

Delaware statutory trust

August 16, 1993

13

Unlimited

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 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 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;

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;

   
   
   

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 each Fund except 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, (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 Income 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. Each Fund may make other types of investments provided the investments are consistent with the Fund's investment objective and policies and the Fund's investment restrictions do not expressly prohibit it from doing so. In addition, 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

   
         

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

   
       

Loans

X

X

   

Part I

4-1


         

MULTI-ASSET FUNDS

       

Investment Type

       
 

Multi-Asset Balanced
Opportunity Fund

Multi-Asset Income Fund

   

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

X

X

   

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

 

Cash/Short-Term Instruments and Money Market Investments

X

X

X

 
       

Convertible Securities

X

X

X

 

Synthetic Convertible Securities

X

X

X

 
       

Debt Securities

X

X

X

 

High-Yield Debt Securities

X

X

X

 

Municipal Bonds

X

X

X

 

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

 

X

X

 

U.S. Government Securities

X

X

X

 

Zero Coupon Bonds

X

X

X

 

Depositary Receipts

X

X

X

 

Derivatives

X

X

X

 
       

Commodity-Related Investments

       
       

Credit Default Swaps and Similar Instruments

X

X

X

 

Forward Contracts

X

X

X

 

Futures Contracts

X

X

X

 

Options Contracts

X

X

X

 

Swap Agreements

X

X

X

 

Equity Securities

X

 

X

 

Common Stocks

X

 

X

 
       

IPOs

X

     
       

Preferred Stocks

X

 

X

 

Warrants and Rights

X

 

X

 

Foreign Currency Transactions

X

X

X

 

Foreign Securities

X

X

X

 

Emerging Market Securities

X

X

X

 

Illiquid Securities

X

X

X

 

Loans

 

X

X

 

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

 

X

X

 

Other Investment Companies

X

X

X

 

REITs

X

X

X

 

Short Sales

X

X

X

 

Part I

4-2


         

FIXED INCOME FUNDS

       

Investment Type

       
 

Convertible Fund

Core Fixed Income Fund

Core Plus Bond Fund

 
       

Structured Notes and Other Hybrid Instruments

X

X

X

 
         

FIXED INCOME FUNDS

       

Investment Type

       
 

Floating Rate Fund

High Yield Fund

Income Fund

Inflation Focused Fund

         

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

       

Loans

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

       

Part I

4-3


         
 

Short Duration Core Bond Fund

Short Duration Income Fund

Total Return Fund

Ultra Short Bond Fund

         

Cash/Short-Term Instruments and Money Market Investments

X

X

X

X

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

   

X

 
       

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

       

Loans

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 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 62 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, 2023 Aggregate Compensation Accrued by the Registrant1

Total Compensation Paid by the Lord Abbett Funds2

Evelyn E. Guernsey

$306,385

$573,434

Julie A. Hill3

278,574

502,164

Kathleen M. Lutito

278,574

502,164

James M. McTaggart

256,032

460,258

Charles O. Prince

278,574

502,164

Karla M. Rabusch

278,083

501,351

Lorin Patrick Taylor Radtke

248,929

448,434

Leah Song Richardson

227,431

409,159

Mark A. Schmid

277,361

499,934

James L.L. Tullis

354,773

640,184

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 attributable to the Fund are $0, $49,937, $278,574, $97,100, $183,859, $0, $132,662, $13,871, $0, and $85,495, respectively.

2 The second column shows total compensation, including the types of compensation described in the “For the Fiscal Year Ended November 30, 2023 Aggregate Compensation Accrued by the Registrant” column, accrued by all Lord Abbett Funds for the calendar year ended December 31, 2023, including fees of Independent Board Members that have been deferred.

3 Ms. Hill retired as a Trustee/Director of the Lord Abbett Funds effective December 31, 2023.

Part I

5-1


Fund Ownership

The following table sets forth certain information about the dollar range of equity securities beneficially owned by each current Board Member in the Registrant and all other Lord Abbett Funds as of December 31, 2023. The amounts shown include deferred compensation (including any 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

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

None

None

None

None

Interested Trustee

       

Douglas B. Sieg

$50,001 - $100,000

None

None

None

         
 

Dollar Range of Equity Securities

Board Members

Core Plus Bond Fund

Floating Rate
Fund

High Yield Fund

Income Fund

Independent Trustees

       

Evelyn E. Guernsey

$1 - $10,000

$10,001 - $50,000

$10,001 - $50,000

$1 - $10,000

Kathleen M. Lutito

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

James M. McTaggart

$1 - $10,000

$10,001 - $50,000

Over $100,000

$1 - $10,000

Charles O. Prince

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

Karla M. Rabusch

$1 - $10,000

Over $100,000

Over $100,000

Over $100,000

Lorin Patrick Taylor Radtke

None

Over $100,000

None

None

Leah Song Richardson

$1 - $10,000

$1 - $10,000

$1 - $10,000

$1 - $10,000

Mark A. Schmid

$1 - $10,000

$10,001 - $50,000

$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

Inflation Focused Fund

Short Duration
Core Bond Fund

Short Duration Income Fund

Total Return
Fund

Independent Trustees

       

Evelyn E. Guernsey

$1 - $10,000

$1 - $10,000

$50,001 - $100,000

$1 - $10,000

Kathleen M. Lutito

$1 - $10,000

$1 - $10,000

$10,001 - $50,000

$1 - $10,000

James M. McTaggart

$1 - $10,000

$1 - $10,000

$50,001 - $100,000

$1 - $10,000

Charles O. Prince

$1 - $10,000

$1 - $10,000

$10,001 - $50,000

$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

Over $100,000

$1 - $10,000

James L.L. Tullis

None

None

Over $100,000

None

Interested Trustee

       

Douglas B. Sieg

None

None

None

None

       
 

Dollar Range of Equity Securities

 

Board Members

Ultra Short Bond Fund

 

Aggregate Dollar Range of Equity Securities in Lord Abbett Funds

Independent Trustees

     

Evelyn E. Guernsey

$10,001 - $50,000

 

Over $100,000

Kathleen M. Lutito

Over $100,000

 

Over $100,000

James M. McTaggart

$10,001 - $50,000

 

Over $100,000

Charles O. Prince

$1 - $10,000

 

Over $100,000

Karla M. Rabusch

$10,001 - $50,000

 

Over $100,000

Lorin Patrick Taylor Radtke

Over $100,000

 

Over $100,000

Leah Song Richardson

$1 - $10,000

 

$50,001 - $100,000

Mark A. Schmid

$10,001 - $50,000

 

Over $100,000

James L.L. Tullis

None

 

Over $100,000

Interested Trustee

     

Douglas B. Sieg

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

Sustainability and Proxy Committee1

Governance Committee

Ad Hoc Compensation Committee

Investment Committee

November 30, 2023

5

4

5

1

6

1 The Sustainability and Proxy Committee was eliminated, with its responsibilities generally assumed by the Board.

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%

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:

       
 

2021

 

Gross Management Fees

Management Fees Waived

Net Management Fees

Multi-Asset Balanced Opportunity Fund

$2,724,186

$0

$2,724,186

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

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 Fund

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

Part I

6-2


       
 

2022

 

Gross Management Fees

Management Fees Waived

Net Management Fees

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

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 Fund

24,407,067

0

24,407,067

       
 

2023

 

Gross Management Fees

Management Fees Waived

Net Management Fees

Multi-Asset Balanced Opportunity Fund

$1,949,056

$0

$1,949,056

Multi-Asset Income Fund

888,119

0

888,119

Convertible Fund

5,015,738

0

5,015,738

Core Fixed Income Fund

5,826,313

0

5,826,313

Core Plus Bond Fund

3,391,266

0

3,391,266

Floating Rate Fund

24,782,900

0

24,782,900

High Yield Fund

22,876,172

0

22,876,172

Income Fund

11,275,046

0

11,275,046

Inflation Focused Fund

5,331,886

0

5,331,886

Short Duration Core Bond Fund

1,082,441

(556,557)

525,884

Short Duration Income Fund

118,741,002

0

118,741,002

Total Return Fund

8,653,362

0

8,653,362

Ultra Short Bond Fund1

16,338,108

0

16,338,108

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, 2024 - March 31, 2025

0.41%

0.48%

Short Duration Core Bond Fund

April 1, 2024 - March 31, 2025

0.31%

0.40%

As to Core Fixed Income Fund and Total Return Fund, for the period from April 1, 2024 through March 31, 2025, 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

Part I

6-3


sets forth the administrative services fees each Fund paid to Lord Abbett for the last three fiscal years ended November 30th:

       
 

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

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

       
 

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

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

Part I

6-4


       
 

2023

 

Gross Administrative Fees

Administrative Fees Voluntarily Waived

Net Administrative Fees

Multi-Asset Balanced Opportunity Fund

$779,622

$(151,781)

$627,841

Multi-Asset Income Fund

355,247

(84,803)

270,444

Convertible Fund

286,614

(16,511)

270,103

Core Fixed Income Fund

1,065,263

(63,470)

1,001,793

Core Plus Bond Fund

484,467

(44,330)

440,137

Floating Rate Fund

2,158,480

(116,652)

2,041,828

High Yield Fund

1,710,094

(110,628)

1,599,466

Income Fund

1,190,466

(94,481)

1,095,985

Inflation Focused Fund

713,253

(111,235)

602,018

Short Duration Core Bond Fund

144,325

(23,557)

120,768

Short Duration Income Fund

18,758,560

(572,561)

18,185,999

Total Return Fund

1,236,195

(70,455)

1,165,740

Ultra Short Bond Fund

3,844,260

(103,779)

3,740,481

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:

       
 

2021

2022

2023

Gross sales charge

$15,672,054

$6,347,973

$10,140,498

Amount allowed to dealers

13,584,231

5,426,401

9,371,703

Net commissions received by the Distributor

2,087,823

921,572

768,795


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

       
 

2021

2022

2023

CDSC received by the Distributor

$2,227,699

$2,897,345

$855,619

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

$4,280,443

N/A

$937,658

$13,606

Multi-Asset Income Fund

1,691,042

N/A

671,873

25,716

Convertible Fund

356,061

N/A

293,854

58,342

Core Fixed Income Fund

1,097,861

N/A

191,409

71,361

Core Plus Bond Fund

248,289

N/A

93,976

62,562

Floating Rate Fund

3,324,194

N/A

3,140,444

421,935

High Yield Fund

1,506,128

N/A

1,199,512

252,645

Part I

6-5


         

Income Fund

1,950,126

N/A

353,316

72,487

Inflation Focused Fund

665,576

N/A

605,172

124,015

Short Duration Core Bond Fund

150,313

N/A

42,550

23,514

Short Duration Income Fund

17,019,642

N/A

15,275,582

2,995,288

Total Return Fund

1,919,220

N/A

251,473

135,363

Ultra Short Bond Fund

6,274,909

9,014

0

584,580

         
 

Class P

Class R2

Class R3

Class R4

Multi-Asset Balanced Opportunity Fund

$1,982

$4,104

$224,781

$28,140

Multi-Asset Income Fund

0

1,317

73,544

6,484

Convertible Fund

161

453

93,884

1,285

Core Fixed Income Fund

0

2,226

28,171

21,633

Core Plus Bond Fund

0

0

1,042

760

Floating Rate Fund

0

5,593

396,327

4,210

High Yield Fund

0

28,994

418,767

171,529

Income Fund

0

5,887

245,070

15,298

Inflation Focused Fund

0

1,694

2,891

5,677

Short Duration Core Bond Fund

0

0

2,932

52

Short Duration Income Fund

0

36,567

1,691,763

360,634

Total Return Fund

1,484

7,227

138,100

76,389

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:

       
 

2021

2022

2023

Multi-Asset Balanced Opportunity Fund

$74,660

$71,924

$21,872

Multi-Asset Income Fund

33,954

35,440

10,909

Convertible Fund

12,764

26,548

375,456

Core Fixed Income Fund

37,307

43,201

48,972

Core Plus Bond Fund

6,863

16,395

33,339

Floating Rate Fund

82,301

284,522

72,269

High Yield Fund

1,523,087

1,435,561

726,195

Income Fund

40,802

93,256

104,664

Inflation Focused Fund

40,360

128,480

40,965

Short Duration Core Bond Fund

1,319

6,568

0

Short Duration Income Fund

1,361,795

1,491,590

952,369

Total Return Fund

118,758

98,686

77,486

Ultra Short Bond Fund

38,770

20,921

30,029

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.

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.

Part I

6-6


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, 2023, for which the Fund paid the brokerage commissions indicated:

     
 

Transactions

Commissions

Multi-Asset Balanced Opportunity Fund

$0

$10,444

Multi-Asset Income Fund

0

5,392

Convertible Fund

58,277,482

200,569

Core Fixed Income Fund

0

0

Core Plus Bond Fund

0

0

Floating Rate Fund

75,137,827

13,666

High Yield Fund

799,695,639

412,119

Income Fund

0

0

Inflation Focused Fund

1,055

1

Short Duration Core Bond Fund

0

0

Short Duration Income Fund

49,624

69

Total Return Fund

0

0

Ultra Short Bond Fund

0

0

Regular Broker-Dealers

During the fiscal year ended November 30, 2023, 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

$15,768,255

     

Core Fixed Income Fund

BANK OF AMERICA, N.A.

48,019,604.25

 

Barclays Capital Inc.

71,035,322.38

 

Citigroup Global Markets Inc.

68,606,451.46

 

Goldman, Sachs & Co.

35,271,987.30

 

JPmorgan Chase Bank N.A

82,947,535.82

 

MORGAN STANLEY AND CO., LLC

14,221,273.66

 

RBC Capital Markets

6,810,139.26

 

UBS Financial Services Inc.

41,129,743.22

 

Wells Fargo Advisors PCG

66,689,931.02

     

Core Plus Bond Fund

BANK OF AMERICA, N.A.

28,130,439.57

 

Barclays Capital Inc.

5,466,785.27

 

Citigroup Global Markets Inc.

21,724,560.20

 

Goldman, Sachs & Co.

12,858,820.47

 

JPmorgan Chase Bank N.A

31,519,157.81

 

LPL Independent Advisor Services

5,677,151.38

 

MORGAN STANLEY AND CO., LLC

18,181,918.20

 

RBC Capital Markets

1,429,656.46

Part I

6-7


     
 

Wells Fargo Securities, LLC

15,985,415.69

     

Floating Rate Fund

None

None

     

High Yield Fund

Morgan Stanley Wealth Management

0

 

Goldman & Sachs & Co

200,000

     

Income Fund

BANK OF AMERICA, N.A.

35,745,963.77

 

Barclays Capital Inc.

9,831,606.60

 

Citigroup Global Markets Inc.

42,415,282.79

 

Deutsche Bank Securities Inc.

 

 

Goldman, Sachs & Co.

16,782,959.19

 

JPmorgan Chase Bank N.A

117,781,993.46

 

LPL Independent Advisor Services

23,477,958

 

Merrill Lynch

35,745,964

 

MORGAN STANLEY AND CO., LLC

58,413,379

 

UBS Financial Services Inc.

54,754,592

 

Wells Fargo Advisors PCG

42,583,598

     

Inflation Focused Fund

BANK OF AMERICA, N.A.

29,462,303

 

Barclays Capital Inc.

13,612,340

 

Citigroup Global Markets Inc.

21,040,505

 

Deutsche Bank Securities Inc.

469,495

 

Goldman, Sachs & Co.

20,989,925

 

JPmorgan Chase Bank N.A

25,129,586

 

LPL Independent Advisor Services

1,319,555

 

Morgan Stanley Wealth Management

10,636,261

 

Truist Investment Services, Inc.

1,352,538

 

Wells Fargo Securities, LLC

6,269,505

     

Short Duration Core Bond Fund

Ameriprise Financial Services, Inc.

323,538

 

BANK OF AMERICA, N.A.

8,906,676

 

Barclays Capital Inc.

3,945,316

 

Citigroup Global Markets Inc.

5,835,342

 

Deutsche Bank Securities Inc.

0

 

Goldman, Sachs & Co.

4,648,919

 

JPmorgan Chase Bank N.A

7,018,494

 

LPL Independent Advisor Services

1,623,228

 

MORGAN STANLEY AND CO., LLC

6,813,766

 

Wells Fargo Securities, LLC

7,866,041

     

Short Duration Income Fund

Ameriprise Financial Services, Inc.

34,087,192

 

BANK OF AMERICA, N.A.

966,524,219

 

Barclays Capital Inc.

392,095,252

 

Citigroup Global Markets Inc.

736,053,348

 

Deutsche Bank Securities Inc.

16,854,178

 

Goldman, Sachs & Co.

907,556,877

 

JP Morgan Private Bank

1,198,492,421

 

LPL Independent Advisor Services

81,029,418

 

MORGAN STANLEY AND CO., LLC

397,773,767

 

UBS Financial Services Inc.

866,082,829

 

Wells Fargo Advisors PCG

427,803,093

     

Part I

6-8


     

Total Return Fund

BANK OF AMERICA, N.A.

50,496,338

 

Barclays Capital Inc.

36,392,420

 

Citigroup Global Markets Inc.

41,066,082

 

Goldman, Sachs & Co.

18,873,766

 

JPmorgan Chase Bank N.A

57,348,125

 

LPL Independent Advisor Services

8,732,898

 

MORGAN STANLEY AND CO., LLC

33,985,963

 

Wells Fargo Securities, LLC

60,564,343

     

Ultra Short Bond Fund

BANK OF AMERICA, N.A.

237,825,330

 

Barclays Capital Inc.

98,645,319

 

BNP-PARIBAS SA (FORMERLY BANQU

163,249,807

 

Citigroup Global Markets Inc.

173,543,819

 

Goldman, Sachs & Co.

202,439,311

 

JP Morgan Advisors

197,470,713

 

Morgan Stanley Wealth Management

244,215,472

 

RBC Capital Markets

82,952,303

 

TORONTO DOMINION BANK, THE

131,767,311

 

UBS Financial Services Inc.

216,940,384

 

Wells Fargo Securities, LLC

234,546,435

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, 2023 (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

1,376.85

0

0

0

0

Robert A. Lee

15

88,462.43

11

10,397.93

558

4,008.83

Steven F. Rocco

19

88,130.44

14

10,337.45

18

3,988.49

Jahiz Barlas

2

1,376.85

0

0

0

0

             

Multi-Asset Income Fund

         

Giulio Martini

2

2,449.29

0

0

0

0

Robert A. Lee

15

89,534.88

11

10,397.93

558

4,008.83

Steven F. Rocco

19

89,202.88

14

10,337.45

18

3,988.49

Jahiz Barlas

2

2,449.29

0

0

0

0

             

Convertible Fund

         

Alan R. Kurtz

0

0

1

13.90

1850

646.01

Jeremy I. Lehmann

0

0

1

13.90

1850

646.01

             

Core Fixed Income Fund

         

Robert A. Lee

15

87,057.88

11

10,397.93

558

4,008.83

Kewjin Yuoh

15

86,560.55

9

8,774.61

530

162.73

Andrew H. O’Brien

14

84,099.94

8

8,679.07

26

5,080.96

Leah G. Traub

5

6,452.01

3

977.38

530

162.73

Adam C. Castle

9

59,410.99

6

7,777.08

0

0

Harris A. Trifon

6

48,483.99

4

6,579.71

0

0

             

Core Plus Bond Fund

         

Robert A. Lee

15

88,894.69

11

10,397.93

558

4,008.83

Kewjin Yuoh

15

88,397.36

9

8,774.61

530

162.73

Andrew H. O’Brien

14

85,936.75

8

8,679.07

26

5,080.96

Steven F. Rocco

19

88,562.70

14

10,337.45

18

3,988.49

Leah G. Traub

5

8,288.82

3

977.38

530

162.73

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

9

61,247.80

6

7,777.08

0

0

Harris A. Trifon

6

50,320.80

4

6,579.71

0

0

         

Floating Rate Fund

         

Kearney M. Posner

2

97.02

2

259.22

0

0

Christopher J. Gizzo

2

97.02

2

259.22

0

0

Robert A. Lee

15

85,390.35

11

10,397.93

558

$ 4,008.83

Steven F. Rocco

19

85,058.36

14

10,337.45

18

3,988.49

             

High Yield Fund

         

Steven F. Rocco

19

86,198.63

14

10,337.45

18

3,988.49

Robert A. Lee

15

86,530.62

11

10,397.93

558

4,008.83

Christopher J. Gizzo

5

28,521.25

2

2,627.86

0

0

Karen J. Gunnerson

3

23,559.57

1

1,696.01

0

0

             

Income Fund

         

Andrew H. O’Brien

14

83,786.59

8

8,679.07

26

5,080.96

Robert A. Lee

15

86,744.53

11

10,397.93

558

4,008.83

Kewjin Yuoh

15

86,247.21

9

8,774.61

530

162.73

Steven F. Rocco

19

86,412.54

14

10,337.45

18

3,988.49

Yoana N. Koleva

6

52,614.80

1

1,101.72

2

150.25

Eric P. Kang

4

1,668.49

1

95.65

0

0

             

Inflation Focused Fund

         

Leah G. Traub

5

8,530.99

3

977.38

530

162.73

Kewjin Yuoh

15

88,639.54

9

8,774.61

530

162.73

Robert A. Lee

15

89,136.86

11

10,397.93

558

4,008.83

Andrew H. O’Brien

14

86,178.92

8

8,679.07

26

5,080.96

Steven F. Rocco

19

88,804.87

14

10,337.45

18

3,988.49

             

Short Duration Core Bond Fund

         

Andrew H. O’Brien

14

86,966.93

8

8,679.07

26

5,080.96

Kewjin Yuoh

15

89,427.55

9

8,774.61

530

162.73

Adam C. Castle

9

62,277.98

6

7,777.08

0

0

Yoana N. Koleva

6

55,795.14

1

1,101.72

2

150.25

Ty J. Kern

0

0

0

0

0

0

             

Short Duration Income Fund

         

Andrew H. O’Brien

14

44,286.98

8

8,679.07

26

5,080.96

Robert A. Lee

15

47,244.91

11

10,397.93

558

4,008.83

Kewjin Yuoh

15

46,747.59

9

8,774.61

530

162.73

Steven F. Rocco

19

46,912.92

14

10,337.45

18

3,988.49

Adam C. Castle

9

19,598.02

6

7,777.08

0

0

Harris A. Trifon

6

8,671.02

4

6,579.71

0

0

Yoana N. Koleva

6

13,115.18

1

1,101.72

2

150.25

             

Total Return Fund

           

Robert A. Lee

15

87,140.42

11

10,397.93

558

4,008.83

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)

Kewjin Yuoh

15

86,643.09

9

8,774.61

530

162.73

Andrew H. O’Brien

14

84,182.48

8

8,679.07

26

5,080.96

Steven F. Rocco

19

86,808.42

14

10,337.45

18

3,988.49

Leah G. Traub

5

6,534.55

3

977.38

530

162.73

Adam C. Castle

9

59,493.53

6

7,777.08

0

0

Harris A. Trifon

6

48,566.53

4

6,579.71

0

0

             

Ultra Short Bond Fund

         

Yoana N. Koleva

6

47,255.93

1

1,101.72

2

150.25

Andrew H. O’Brien

14

78,427.73

8

8,679.07

26

5,080.96

Kewjin Yuoh

15

80,888.34

9

8,774.61

530

162.73

Adam C. Castle

9

53,738.77

6

7,777.08

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, 2023 (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 Securities

Aggregate Dollar Range of Securities

 

Multi-Asset Balanced Opportunity Fund

 

Giulio Martini

Over $1,000,000

Robert A. Lee

Over $1,000,000

 

Steven F. Rocco

None

Jahiz Barlas

None

   

Multi-Asset Income Fund

 

Giulio Martini

$50,001-$100,000

Robert A. Lee

Over $1,000,000

Steven F. Rocco

None

Jahiz Barlas

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

$10,001-$50,000

Andrew H. O’Brien

$10,001-$50,000

Leah G. Traub

$10,001-$50,000

Adam C. Castle

$10,001-$50,000

Harris A. Trifon1

$10,001-$50,000

   

Core Plus Bond Fund

 

Robert A. Lee

Over $1,000,000

Kewjin Yuoh

$10,001-$50,000

Part I

7-3


   

Andrew H. O’Brien

$10,001-$50,000

Steven F. Rocco

$10,001-$50,000

Leah G. Traub

$10,001-$50,000

Adam C. Castle

$10,001-$50,000

Harris A. Trifon1

$10,001-$50,000

   

Floating Rate Fund

 

Kearney M. Posner

$100,001-$500,000

Christopher J. Gizzo

$100,001-$500,000

Robert A. Lee

Over $1,000,000

Steven F. Rocco

$100,001-$500,000

   

High Yield Fund

 

Steven F. Rocco

Over $1,000,000

Robert A. Lee

Over $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

$10,001-$50,000

Steven F. Rocco

$10,001-$50,000

Yoana N. Koleva

$50,001-$100,000

Eric P. Kang

$1-$10,000

   

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

$10,001-$50,000

Adam C. Castle

$10,001-$50,000

Yoana N. Koleva

$10,001-$50,000

Ty J. Kern

None

   

Short Duration Income Fund

 

Andrew H. O’Brien

Over $1,000,000

Robert A. Lee

Over $1,000,000

Kewjin Yuoh

$100,001-$500,000

Steven F. Rocco

$100,001-$500,000

Adam C. Castle

$10,001-$50,000

Harris A. Trifon1

$10,001-$50,000

Yoana N. Koleva

$100,001-$500,000

   

Total Return Fund

 

Robert A. Lee

Over $1,000,000

Kewjin Yuoh

$10,001-$50,000

Andrew H. O’Brien

$10,001-$50,000

Part I

7-4


   

Steven F. Rocco

$10,001-$50,000

Leah G. Traub

$10,001-$50,000

Adam C. Castle

$10,001-$50,000

Harris A. Trifon1

$10,001-$50,000

   

Ultra Short Bond Fund

 

Yoana N. Koleva

$100,001-$500,000

Andrew H. O’Brien

Over $1,000,000

Kewjin Yuoh

$1-$10,000

Adam C. Castle

$10,001-$50,000

1 As of January 3, 2024.

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

$4,418

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

Fees paid to securities lending agent from a revenue split

$136

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)

$3,046

Other fees not included in revenue split (specify)

-

Aggregate fees/compensation for securities lending activities

$3,182

Net income from securities lending activities

$1,236

 
   

Floating Rate

Gross income from securities lending activities

$2,445,434

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

Fees paid to securities lending agent from a revenue split

$98,573

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)

$1,459,708

Other fees not included in revenue split (specify)

-

Aggregate fees/compensation for securities lending activities

$1,558,281

Net income from securities lending activities

$887,153

 
   

High Yield Fund

Gross income from securities lending activities

$279,047

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

Fees paid to securities lending agent from a revenue split

$20,944

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)

$74,626

Other fees not included in revenue split (specify)

-

Aggregate fees/compensation for securities lending

$95,570

Part I

8-1


   

activities

 

Net income from securities lending activities

$183,477

 

Multi-Asset Balanced Opportunity Fund, Multi-Asset Income Fund, Core Fixed Income Fund, Core Plus 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 29, 2024, 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

25.99%

INCOME FUND

 

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

45.76%

MULTI-ASSET BALANCED OPPORTUNITY FUND

 

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

48.16%

TOTAL RETURN FUND

 

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

45.19%

As of February 29, 2024, to the best of the Fund’s knowledge, the following persons or entities owned of record or were known by the Fund to beneficially own 5% or more of the specified class of the Fund’s outstanding shares:

     

CONVERTIBLE FUND CLASS A

EDWARD D JONES & CO
FOR THE BENEFIT OF CUSTOMERS
12555 MANCHESTER RD
SAINT LOUIS MO 63131-3710

15.59%

 

NATIONAL FINANCIAL SERVICES LLC
FEBO CUSTOMERS
MUTUAL FUNDS
200 LIBERTY ST # 1WFC
NEW YORK NY 10281-1015

9.95%

 

MLPF&S FOR THE SOLE BENEFIT
OF ITS CUSTOMERS
ATTN FUND ADMINISTRATION
4800 DEER LAKE DR E FL 3
JACKSONVILLE FL 32246-6484

9.06%

 

PERSHING LLC
1 PERSHING PLZ
JERSEY CITY NJ 07399-0002

8.10%

Part I

9-1


     
 

WELLS FARGO CLEARING SERVICES LLC
SPECIAL CUSTODY ACCT FOR THE
EXCLUSIVE BENEFIT OF CUSTOMER
2801 MARKET ST
SAINT LOUIS MO 63103-2523

8.72%

 

MORGAN STANLEY SMITH BARNEY LLC
FOR THE EXCLUSIVE BENE OF ITS CUST
1 NEW YORK PLZ FL 12
NEW YORK NY 10004-1965

13.41%

CONVERTIBLE FUND CLASS C

MLPF&S FOR THE SOLE BENEFIT
OF ITS CUSTOMERS
ATTN FUND ADMINISTRATION
4800 DEER LAKE DR E FL 3
JACKSONVILLE FL 32246-6484

11.53%

 

PERSHING LLC
1 PERSHING PLZ
JERSEY CITY NJ 07399-0002

13.44%