Lord Abbett Intermediate Tax Free Fund Class F is an open-end municipal bond mutual fund designed to deliver a high level of interest income that is exempt from federal income tax. The strategy centers on intermediate‑term municipal securities, targeting a balance between income generation and interest rate sensitivity typical of the intermediate muni segment. Under normal conditions, the portfolio invests at least 80% of assets in municipal bonds, primarily investment grade, while retaining limited flexibility to allocate to lower-rated issues to enhance income within defined risk parameters. The fund benchmarks its volatility to the Bloomberg 1–15 Year Municipal Bond Index and maintains characteristics consistent with intermediate duration management. It is broadly diversified across U.S. municipal sectors such as general obligation, revenue, transportation, healthcare, and essential-service utilities, with monthly income distributions. The fund’s role in the market is to provide tax‑advantaged income and moderate interest rate exposure for investors seeking federally tax‑exempt cash flows through a professionally managed, diversified muni portfolio supported by a large dedicated municipal research platform.
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