Lord Abbett Convertible Fund
LACFX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Jersey City, NJ 7302 Jersey City NJ United States of America 7302
- IPO Date
- Jun 30, 2003
- CIK
- 0000911507
- Website
- lordabbett.com
- Similar Companies
- Business
- Lord Abbett Convertible Fund (LACFX) is an open-end mutual fund managed by Lord, Abbett & Co. LLC that seeks current income and capital appreciation through a high total return by investing at least 80% of its net assets in a diversified portfolio of convertible securities issued by U.S. and foreign companies. The fund primarily holds convertible bonds, convertible preferred stocks, and related equity instruments including warrants and options; top holdings as of October 2025 include MGP Ingredients Inc. 1.875% convertible notes due 2026, Redfin Corp. 0.5% convertible notes due 2027, Alibaba Group Holding Ltd. convertible securities, Sea Ltd. convertible notes, and Bank of America Corp. preferred securities, spanning sectors such as financials, communications, industrials, consumer non-cyclical, and energy. It maintains a portfolio of approximately 89 holdings with an average coupon of 1.92%, effective duration of 0.01 years, and average maturity of 3.11 years as of October 31, 2025; the fund targets individual investors, financial advisors, and institutional clients through multiple share classes including Class A (LACFX, expense ratio 1.09%), Class I (LCFYX, expense ratio 0.89%), Class C, Class F, and Class P. Lord, Abbett & Co. LLC, the fund's investment manager, founded in 1929 and headquartered in Jersey City, New Jersey, following a relocation to new global headquarters at 30 Hudson Street in Exchange Place completed in early 2025, oversees approximately $667 million in net assets for LACFX Class A as of October 2025. The firm operates globally with a focus on active management across equity, fixed income, and multi-asset strategies, serving retail, advisor, and institutional markets primarily in the United States. The Convertible Fund, incepted on June 30, 2003, pays quarterly dividends with a 12-month yield of 1.73% for Class A shares as of December 2025 and has delivered annualized returns of 13.09% over three years and 11.29% over ten years (without sales charge). In recent developments, Lord Abbett completed its move to expanded headquarters facilities in Jersey City in January 2025, enhancing collaboration and operational capabilities with features like executive offices, conference rooms, and an auditorium. The firm launched new private credit initiatives, including the Lord Abbett Private Credit Fund A, LP (formed September 2024 and converted in March 2025) and Lord Abbett Corporate Opportunities Fund (renamed effective February 2025), reflecting a strategic expansion into interval funds and alternative credit strategies alongside its core convertible securities offerings. No major acquisitions, funding rounds, or portfolio-specific reorganizations for the Convertible Fund were reported in 2024-2025, with the fund maintaining its consistent investment approach amid quarterly performance updates showing strong YTD returns of 22.66% for Class A shares as of late 2025.