Lord Abbett Short Duration Income Fund

Objectives: The Fund's investment objective is to seek a high level of income consistent with preservation of capital. The Fund primarily invests in short term debt securities. At least 65% of its assets are held in investment grade debt securities, including corporate debt of U.S. issuers and U.S. Dollar denominated securities of non-U.S. issuers, mortgage-backed, other asset backed securities, securities issued or guaranteed by the U. S. government (including its agencies and government-sponsored enterprises) and inflation-linked investments. The Fund invests substantially in residential and commercial mortgage-backed and mortgage-related securities. In addition, the Fund's investments in high yield (“High Yield”) securities (which are below investment grade and also referred to as "junk bonds") and lower rated commercial mortgage-backed securities comprise a significant portion of the Fund's portfolio. The Fund may invest up to 25% of its assets in any one or a combination of the following: High Yield securities, non-U.S. (including emerging market) debt securities that are denominated in non-U.S. currencies, convertible securities, and collateralised debt obligations. The Fund may also invest up to 25% of its net assets in CLOs, provided at least 80% of such CLOs shall be AAA rated and the remainder shall be rated at least investment grade. The Fund may also invest in contingent convertible securities (“CoCos”) (subject to a maximum exposure of 5% of the Fund's Net Asset Value to CoCos). The Fund expects to maintain its average duration range between one and three years in order to seek to manage interest rate risk in the portfolio. The Fund may invest up to 10% of its assets in third party floating or adjustable rate senior loans. Total assets in any one industry, other than mortgage related securities or those issued by the U.S. government, its agencies or instrumentalities, will not exceed 25% of assets. The Fund employs a relative value-oriented investment process that emphasizes securities believed to be undervalued. The Fund may invest in financial derivative instruments (“FDIs”) to seek to enhance returns, to attempt to hedge some of its investment risk, to manage portfolio duration, or as a substitute for holding the underlying reference asset on which the FDI is based. Any income less expenses realised will only be distributed to investors in distributing classes and will be accumulated in the net asset value per share for accumulation classes. The Fund is actively managed. It uses the ICE BofA 1-3 Year U.S. Corporate Index Hedged NZD for performance comparison purposes. Investors can redeem shares each day (except Saturdays and Sundays and normal public holidays in Ireland) on which the New York Stock Exchange is open for regular business.For full investment objective and policy details, please refer to the “Investment Objective” and “Investment Policies” sections of the Fund's supplement to the Prospectus. Unless otherwise expressly defined herein, defined terms have the same meaning assigned in the Prospectus. This share class is a distributing share class and the Directors intend to declare a dividend. This share class will distribute income less expenses but may also pay distributions out of capital. This may reduce the value of your holdings and impact the potential for long term capital growth.