Lord Abbett Short Duration High Income Municipal Bond Fund Class A is an actively managed municipal bond mutual fund focused on delivering a high level of income that is exempt from federal income tax. The strategy invests at least 80% of net assets in tax-exempt municipal securities and maintains a short-to-intermediate interest-rate profile, generally targeting a weighted average effective duration below approximately four and a half years to manage rate sensitivity. The portfolio emphasizes high-yield and nonrated municipal issuers across revenue-backed sectors such as transportation, healthcare, housing, airports, and special assessment districts, seeking diversified cash flows from essential-service and project-based credits. Launched in 2015, the fund distributes income monthly and is positioned for investors seeking tax-advantaged income with moderated duration risk relative to longer-maturity muni strategies. Its role in the market is to bridge the gap between traditional investment-grade muni funds and longer-duration high-yield offerings, providing exposure to credit-driven income opportunities while aiming to temper volatility through shorter effective duration and broad sector diversification.
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