LCFIX: Lord Abbett California Tax Free A

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LCFIX Lord Abbett California Tax Free A


Profile

LCFIX - Profile

Vitals

  • YTD Return 1.5%
  • 3 Yr Annualized Return 1.7%
  • 5 Yr Annualized Return 1.4%
  • Net Assets $516 M
  • Holdings in Top 10 11.9%

52 WEEK LOW AND HIGH

$11.58
$10.09
$11.84

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.79%

SALES FEES

  • Front Load 2.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 15.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA $1,000

Fund Classification


Distributions

  • YTD Total Return 1.5%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.00%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Lord Abbett California Tax Free Fund
  • Fund Family Name
    Lord Abbett
  • Inception Date
    Sep 03, 1985
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Daniel Solender

Fund Description

In pursuing its investment objective, the fund uses the volatility of the Bloomberg Barclays Municipal Bond Index as an approximation of reasonable risk. To pursue its investment objective, under normal conditions, it invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal bonds that pay interest exempt from federal income tax and California personal income tax. The fund is non-diversified.


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Categories

Performance

LCFIX - Performance

Return Ranking - Trailing

Period LCFIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -2.6% 4.9% 49.74%
1 Yr 1.2% -2.0% 4.9% 31.94%
3 Yr 1.7%* -0.9% 2.8% 14.04%
5 Yr 1.4%* -0.6% 2.7% 14.94%
10 Yr 1.4%* -0.1% 2.2% 13.39%

* Annualized

Return Ranking - Calendar

Period LCFIX Return Category Return Low Category Return High Rank in Category (%)
2019 6.2% 2.4% 8.8% 10.05%
2018 -2.5% -6.2% 2.8% 43.65%
2017 3.5% -0.2% 6.8% 20.61%
2016 -3.0% -7.9% -1.7% 37.82%
2015 0.2% -1.9% 1.8% 49.02%

Total Return Ranking - Trailing

Period LCFIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -2.6% 4.9% 49.74%
1 Yr 1.2% -2.0% 4.9% 31.94%
3 Yr 1.7%* -0.9% 3.6% 19.10%
5 Yr 1.4%* -0.6% 3.9% 20.13%
10 Yr 1.4%* -0.1% 4.6% 18.90%

* Annualized

Total Return Ranking - Calendar

Period LCFIX Return Category Return Low Category Return High Rank in Category (%)
2019 6.2% 2.4% 8.8% 12.17%
2018 -2.5% -6.2% 2.8% 48.62%
2017 3.5% -0.2% 6.9% 23.03%
2016 -3.0% -7.9% 0.8% 40.38%
2015 0.2% -1.9% 3.7% 53.59%

NAV & Total Return History


Holdings

LCFIX - Holdings

Concentration Analysis

LCFIX Category Low Category High LCFIX % Rank
Net Assets 516 M 2.92 M 17.1 B 60.10%
Number of Holdings 311 22 4406 45.60%
Net Assets in Top 10 58 M -117 M 2.99 B 66.84%
Weighting of Top 10 11.91% 3.4% 70.5% 75.65%

Top 10 Holdings

  1. CALIFORNIA HSG FIN AGY MUN CTFS 4.25% 1.49%
  2. CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 5% 1.33%
  3. CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV 2.4% 1.32%
  4. SAN DIEGO CNTY CALIF REGL ARPT AUTH ARPT REV 4% 1.22%
  5. SOUTHERN CALIF PUB PWR AUTH NAT GAS PROJ REV 5% 1.20%
  6. CALIFORNIA MUN FIN AUTH REV 4% 1.12%
  7. CALIFORNIA HEALTH FACS FING AUTH REV 4% 1.11%
  8. CALIFORNIA MUN FIN AUTH REV 5% 1.05%
  9. PALOMAR HEALTH CALIF REV 5% 1.04%
  10. CALIFORNIA EDL FACS AUTH REV 5% 1.02%

Asset Allocation

Weighting Return Low Return High LCFIX % Rank
Bonds
100.00% 89.21% 139.32% 17.62%
Stocks
0.00% 0.00% 0.10% 40.93%
Preferred Stocks
0.00% 0.00% 0.00% 39.90%
Other
0.00% -6.72% 0.94% 41.97%
Convertible Bonds
0.00% 0.00% 0.00% 39.90%
Cash
0.00% -39.32% 10.79% 80.83%

Bond Sector Breakdown

Weighting Return Low Return High LCFIX % Rank
Municipal
100.00% 46.82% 101.06% 5.18%
Derivative
0.00% 0.00% 0.00% 39.90%
Cash & Equivalents
0.00% -0.27% 9.21% 93.78%
Securitized
0.00% 0.00% 0.00% 39.90%
Corporate
0.00% 0.00% 2.65% 47.15%
Government
0.00% -0.79% 47.72% 40.93%

Bond Geographic Breakdown

Weighting Return Low Return High LCFIX % Rank
US
97.74% 86.58% 135.97% 44.56%
Non US
2.26% 0.00% 9.03% 32.64%

Expenses

LCFIX - Expenses

Operational Fees

LCFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.79% 0.09% 3.74% 47.92%
Management Fee 0.45% 0.00% 0.65% 46.63%
12b-1 Fee 0.20% 0.00% 1.00% 25.96%
Administrative Fee 0.04% 0.01% 0.33% 11.76%

Sales Fees

LCFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 2.25% 4.75% 88.10%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

LCFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

LCFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 15.00% 2.00% 235.00% 30.73%

Distributions

LCFIX - Distributions

Dividend Yield Analysis

LCFIX Category Low Category High LCFIX % Rank
Dividend Yield 0.00% 0.00% 0.64% 42.49%

Dividend Distribution Analysis

LCFIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

LCFIX Category Low Category High LCFIX % Rank
Net Income Ratio 3.00% 0.73% 5.75% 37.50%

Capital Gain Distribution Analysis

LCFIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

LCFIX - Fund Manager Analysis

Managers

Daniel Solender


Start Date

Tenure

Tenure Rank

Sep 14, 2006

13.89

13.9%

Mr. Solender is the lead portfolio manager of the municipal bond capabilities. Mr. Solender joined Lord Abbett in 2006 and was named Partner in 2008. His prior experience includes: Vice President and Portfolio Manager at Nuveen Investments; Principal and Portfolio Manager at Vanguard Group; Assistant Vice President and Portfolio Manager at Nuveen Advisory Corp.; Financial Analyst/Assistant Manager, Research and Product Development at Citibank. Mr. Solender received a BA from the University of Columbia and an MBA from the University of Chicago. He is the holder of a Chartered Financial Analyst designation and has been in the investment business since 1987.

Gregory Shuman


Start Date

Tenure

Tenure Rank

Apr 01, 2017

3.33

3.3%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 31.6 9.28 7.42