Lord Abbett High Income Municipal Bond Fund Class I is an institutional mutual fund centered on delivering a high level of federally tax-exempt income. The fund's core strategy is anchored in investing primarily—at least 80% of assets—in lower-rated or high-yield municipal bonds, often categorized below investment grade (rated BBB/Baa or lower at time of purchase). This approach exposes the portfolio to higher credit risk compared to traditional municipal bond funds, in exchange for a potential increase in yield. The fund actively manages a broad portfolio, typically comprising several hundred securities diversified across sectors such as healthcare, education, transportation, special tax, and general obligation bonds. Its average effective maturity extends into the long-term, supporting the goal of maximizing tax-free income for investors with a tolerance for greater risk and duration exposure. With a net expense ratio of 0.56% and assets under management exceeding $2 billion, Lord Abbett High Income Municipal Bond Fund Class I plays a notable role in the high-yield municipal market space, serving institutional investors who seek competitive tax-exempt income within a disciplined, professionally managed structure.
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