1

Copyright © 2016 by Lord, Abbett & Co. LLC. All rights reserved.

Lord Abbett mutual fund shares are distributed by Lord Abbett Distributor LLC.

Lord, Abbett & Co. LLC

Lord Abbett Distributor LLC

90 Hudson Street, Jersey City, NJ 07302-3973

This presentation has been prepared exclusively for use by analysts, institutional investors and their consultants, registered investment advisors, broker-dealers and sponsors of plans with a minimum of 100 participants. It is not intended for, and should not be used with, small plan sponsors, plan participants, or the

public in written or oral form or for any other purpose.

LORD ABBETT STRATEGY UPDATE

Short Duration Income

M a y 5 , 2 0 1 6

2

FIRM PROFILE

2

OUR FIRM

A singular focus on the management of

money since 1929

OUR MISSION

Delivering superior long-term investment

performance and a client experience that

exceeds expectations

OUR DIFFERENTIATORS

Independent Perspective

Commitment to Active Management

Intelligent Product Design

AT A GLANCE

*Includes approximately $1.5 billion for which Lord Abbett

provides investment models to managed account sponsors.

AS OF MARCH 31, 2016

Independent, privately held firm

59 partners

Assets under management: $126.9 billion*

▫ $32.9 billion in equity strategies and

$94.0 billion in fixed-income strategies

143 investment professionals with an

average of 17 years of industry experience

INVESTMENT-LED. INVESTOR-FOCUSED.

3

INVESTMENT TEAM

Walter H. Prahl, Ph.D. Partner & Director of Quantitative Research

31 Years

7 Additional Research Analysts 12 Years Average

Robert A. Lee

Partner & Deputy Chief Investment Officer

25 Years

Experienced investment team led by:

Kewjin Yuoh Partner & Portfolio Manager

Liquid & Securitized Products

22 Years

Andrew H. O’Brien, CFA Partner & Portfolio Manager

Corporates

18 Years

Jeffrey D. Lapin, J.D. Portfolio Manager

Bank Loans

19 Years

Leah G. Traub, Ph.D. Partner & Portfolio Manager

Currencies & Emerging Markets

15 Years

Alan R. Kurtz Portfolio Manager

Convertibles

16 Years

Steven Rocco, CFA Partner & Portfolio Manager

High Yield

15 Years

Portfolio Management

Specializing in the major sectors of

the Fixed Income market

14 Additional Investment Professionals 10 Years Average

Gregory S. Parker, CFA

Partner & Director of Credit Research

25 Years

19 Additional Research Analysts 15 Years Average

Andrew M. Khatri

Partner & Director of Trading

14 Years

8 Additional Traders 8 Years Average

Additional Resources:

Timothy Paulson Investment Strategist

17 Years

As of 04/07/2016. Years of industry experience, as of 01/01/2016.

Brian Arsenault Investment Strategist

22 Years

Giulio Martini Director of Strategic Asset Allocation

31 Years

3 Additional Investment Professionals 12 Years Average

4

Lord Abbett Short Duration Income Fund A research-driven strategy with the flexibility to invest across multiple fixed income sectors.

Designed to provide:

higher yield than a traditional short duration strategy

lower duration than a traditional core bond strategy

FIXED INCOME LINE-UP

The chart represents Lord Abbett’s assessment of the relative level of investment risk and potential investment return among the Lord Abbett taxable fixed-income Funds listed in the chart. The information is intended to graphically depict Lord Abbett’s overall assessment of relative risk and potential return. It is not intended to depict any specific risk measurement, such as standard deviation, for any particular product, nor is it to depict any performance of any particular product. In addition, the graphic above does not depict different types of investment risk and does not reflect that a portion of a Fund’s portfolio may be invested in securities that have higher investment risk relative to the overall portfolio. For example, a Fund may be depicted as having relatively lower risk because it had less exposure to interest rate changes; however, the Fund may hold higher yielding securities that have relatively higher credit risk.

Short Duration Income

Emerging Markets

Local Bond

Emerging Markets

Currency

Bond Debenture

Floating Rate

Total Return

Income Inflation Focused

Convertible Emerging Markets

Corporate Debt

Core Fixed

Income

High Yield

RELATIVE RISK

Strategy

AUM

$35.3B

Core Plus Bond

POTENTIAL

RETURN

5

Corporate, 24.7%

CMBS & ABS, 2.3%

Other1, 4.0%

Agency, 4.1%

MBS, 28.2%

Treasury, 36.6%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Source: Barclays. Past performance is no guarantee of future results. 1“Other” refers to sovereign, supranational, and local authorities. 2Represents modified adjusted duration of the Barclays U.S. Aggregate Bond Index. 3Represents

yield to maturity of the Barclays U.S. Aggregate Bond Index. Yield to maturity is the rate of return anticipated on a bond if held until it matures. Duration is a measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. For illustrative purposes only and does not represent

any specific portfolio managed by Lord Abbett mutual fund or any particular investment. Indexes are unmanaged, do not reflect the deduction of fees and expenses,

and are not available for direct investment.

BARCLAYS U.S. AGGREGATE BOND INDEX (AS OF 03/31/2016)

69% of the

Barclays

Aggregate

Index is in U.S.

Government

Related

Securities

CHARACTERISTICS

Duration2 5.5 Yrs.

Yield3 2.17%

BREAKDOWN

BARCLAYS AGGREGATE: HIGH ON DURATION, LOW ON YIELD

6

SHORT MATURITIES HAVE CONSISTENTLY GENERATED POSITIVE RETURNS

0 Years of Negative Returns

Source: Morningstar.

1-3 Year U.S. Treasuries represented by the BofA Merrill Lynch 1-3 Year U.S. Treasury Index; 1-3 year U.S. Corporates represented by the BofA Merrill Lynch 1-3 Year Corporate Index. Shaded areas represent periods during which the Federal Reserve raised interest rates. The historical data are for illustrative purposes only, do not represent the performance of any specific portfolio managed by Lord Abbett or any particular investment, and are not intended to predict or depict future results. Investors may experience different results. Due to market volatility, the market may not perform in a similar manner in the future. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. Other time periods may have been different.

Past performance is no guarantee of future results. The value of an investment in fixed-income securities will change as interest rates fluctuate and in response to market movements. As interest rates fall, the prices of debt securities tend to rise. As rates rise, prices tend to fall. Treasuries are debt securities issued by the U.S. government and secured by its full faith and credit. Income from Treasury securities is exempt from state and local taxes.

U.S. SHORT MATURITY DEBT CALENDAR YEAR RETURNS (12/31/1979 -12/31/2015)

Periods of a Rising Fed Funds Rate

0%

5%

10%

15%

20%

25%

1979 1983 1987 1991 1995 1999 2003 2007 2011 2015

1-3 Year U.S. Treasuries

-5%

0%

5%

10%

15%

20%

25%

1979 1983 1987 1991 1995 1999 2003 2007 2011 2015

1-3 Year U.S. Corporates1 Year of Negative Returns

7

FOCUS ON CREDIT: CREDIT-SENSITIVE SECTORS OUTPERFORMED

-10%

-5%

0%

5%

10%

15%

20%

Mar-94 Mar-96 Mar-98 Mar-00 Mar-02 Mar-04 Mar-06 Mar-08 Mar-10 Mar-12 Mar-14 Mar-16

Outp

erf

orm

ance (

%)

Short Investment Grade Corporates have

outperformed Short Governments in 96% of

rolling 5 year periods

Short High Yield Bonds have outperformed

Short Governments in 96% of rolling 5 year

periods

Short Investment Grade CMBS have

outperformed Short Governments in 94% of

rolling 5 year periods

Rolling 5-Year Returns as of 03/31/2016. Past performance is not a reliable indicator or guarantee of future results. 1BofAML 1-3 Year Corporate Index 2 Barclays 1-3 Year Government Index 3 Barclays 1-3 Year High Yield Index 4 Barclays 1-3.5 Year CMBS Index

SHORT CORPORATES1 VS. SHORT GOVERNMENT2

SHORT CMBS4 VS. SHORT GOVERNMENT2

SHORT HIGH YIELD3 VS. SHORT GOVERNMENT2

-4%

-2%

0%

2%

4%

6%

8%

10%

Mar-02 Mar-04 Mar-06 Mar-08 Mar-10 Mar-12 Mar-14 Mar-16

Outp

erf

orm

ance (

%)

-3%

-2%

-1%

0%

1%

2%

3%

4%

5%

Mar-94 Mar-96 Mar-98 Mar-00 Mar-02 Mar-04 Mar-06 Mar-08 Mar-10 Mar-12 Mar-14 Mar-16

Outp

erf

orm

ance (

%)

8

INNOVATIVE STRATEGIC DESIGN

Focused on Credit

Emphasis on credit sectors that have historically outperformed in the short

duration space

Flexible Approach

Diversified sector blend offers flexibility to capture opportunities and reduce

volatility

True Short Duration

Short effective duration and short spread duration

9

INVESTMENT APPROACH

Strategic

Design

Research-Driven

Security

Selection

Strategic

Design

Model-Informed

Sector

Allocation

Rigorous

Quantitative

Risk

Management

Short

Duration

Credit

Portfolio

10

Source: Barclays Live and Credit Suisse. Sector returns shown are Barclays indexes as follows: U.S. Aggregate Index, U.S. MBS Fixed Rate Index, U.S. Corporate Investment Grade Index, Municipal Bond Index, U.S. Corporate High Yield Index, U.S. Treasury Index, U.S. TIPS Index, ABS Index, and U.S. Agency Index. Credit Suisse Leveraged Loan Index used for leveraged loans. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. This historical table is an illustration of the most commonly used indexes representative of various sectors of the bond market and does not depict or predict the performance of any specific portfolio managed by Lord Abbett or any particular investment. Please note not all sectors are represented nor is this an asset allocation recommendation. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

DIVERSIFICATION IN FIXED INCOME: BOND MARKET RETURNS VARY

U.S. FIXED-INCOME SECTOR RETURNS (AS OF 03/31/2016)

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YTD

5.69

Lev. Loans

11.85

High Yield

11.64

TIPS

13.74

Treasury

58.21

High Yield

15.12

High Yield

13.56

TIPS

15.81

High Yield

7.44

High Yield

9.05

Municipals

3.30

Municipals

4.46

TIPS

3.51

Municipals

7.33

Lev. Loans

9.01

Treasury

9.26

Agency

44.87

Lev. Loans

9.98

Lev. Loans

10.70

Municipals

9.82

Corporates

6.15

Lev. Loans

7.46

Corporates

1.51

MBS

3.97

Corporates

2.84

TIPS

5.22

MBS

7.90

Agency

8.34

MBS

24.71

ABS

9.00

Corporates

9.81

Treasury

9.43

Lev. Loans

-0.27

ABS

6.08

MBS

1.25

ABS

3.35

High Yield

2.79

Treasury

4.84

Municipals

6.97

Aggregate

5.24

Aggregate

18.68

Corporates

6.54

Aggregate

8.15

Corporates

6.98

TIPS

-1.38

Agency

5.97

Aggregate

1.01

Agency

3.20

Treasury

2.74

High Yield

4.70

ABS

6.90

MBS

-2.35

TIPS

12.91

Municipals

6.31

TIPS

7.84

Aggregate

6.78

Municipals

-1.41

MBS

5.05

Treasury

0.84

Treasury

3.03

Aggregate

2.61

MBS

4.37

Agency

4.56

Corporates

-2.47

Municipals

11.41

TIPS

5.87

Treasury

6.23

MBS

4.21

Aggregate

-1.53

Corporates

3.64

TIPS

0.55

Aggregate

2.04

Agency

2.43

Aggregate

4.33

Aggregate

3.36

Municipals

-4.94

Corporates

5.93

Aggregate

5.85

ABS

5.14

ABS

3.66

ABS

-2.02

Aggregate

3.58

Agency

-0.38

Lev. Loans

1.98

MBS

2.33

Agency

4.30

Corporates

2.21

ABS

-12.72

ABS

5.89

MBS

5.37

MBS

4.98

High Yield

2.59

MBS

-2.55

Municipals

2.45

High Yield

-0.68

Corporates

1.67

Municipals

2.09

ABS

3.08

Treasury

1.88

Lev. Loans

-26.16

High Yield

1.53

Agency

4.36

Agency

4.82

Agency

2.16

Agency

-2.75

Treasury

2.06

Lev. Loans

-1.44

TIPS

1.36

ABS

1.68

Corporates

0.41

TIPS

1.87

High Yield

-28.75

Lev. Loans

-3.57

Treasury

2.38

Municipals

1.82

Lev. Loans

1.99

Treasury

-8.61

TIPS

1.88

ABS

-4.47

High Yield

1.33

Lev. Loans

11

SECTOR ROTATION

0%

5%

10%

15%

20%

25%

U.S. Government

U.S. Treasuries

U.S. Agencies

0%

10%

20%

30%

40%

50%

60%

Mortgages

MBS

CMBS

0%

10%

20%

30%

40%

Credit

ABS

IG Corporates

0%

5%

10%

15%

20%

25%

Non-Traditional

High Yield

Data from 03/31/2008 -03/31/2016. Source: Lord Abbett. The Fund’s portfolio is actively managed and is subject to change. For historical data, bank loan allocations are included in the investment grade corporates or high yield corporates allocations.

12

HISTORICAL ALLOCATION RANGE

Short Duration Income Fund as of 03/31/2016. Historical average sector allocation is based on the allocation at each quarter-end from 03/31/2008– 03/31/2016. The Fund’s portfolio is actively managed and is subject to change. Bank loans are included in the investment grade corporates or high yield corporates sectors, as applicable. For informational purposes only.

CMBS

25% Low

54% High

Current 28%

Investment Grade Corporates

17% Low

37% High

Current 37%

High Yield Corporates

8% Low

24% High

Current 13%

ABS

0% Low

14% High

Current 13%

Treasury/Agency

0% Low

11% High

Current 3%

32% Avg.

29% Avg.

16% Avg.

8% Avg.

3% Avg.

Mortgages

1% Low

19% High

Current 4%

7% Avg.

13

CREDIT RESEARCH TEAM

Gregory S. Parker, CFA

Partner & Director of Credit Research, 25 Years

Paul A. Langlois, CFA Energy (Refiners, Pipelines, Storage);

Materials (Chemicals)

24 Years

Sundar Varadarajan Telecommunication Services (Telecom,

Cable, Satellite)

21 Years

Eran Grumberg, CFA Technology

19 Years

Alan Danzig, CFA Financials (Insurance, REITs);

Consumer (Homebuilders)

18 Years

Martha C. Rocha Emerging Markets

(Latin America)

17 Years

Eric P. Kang Industrials (Aerospace & Defense, E&C,

Commercial Services); Materials

(Paper & Packaging)

17 Years

Brian A. Ilardo Consumer (Household Products,

Restaurants, Tobacco)

16 Years

Mitchell Moss, CFA Utilities (Electric, Gas, Water)

16 Years

Shilpi Mukherjee Consumer (Media); Technology

(Data Processing)

16 Years

Raymond Wu, CFA Industrials (Industrial Machinery,

Electrical Equipment); Materials

(Metal & Mining)

16 Years

Yoana Koleva, CFA Financials (Banks, Diversified

Financials)

13 Years

Klim Fedoff Emerging Markets (Central & Eastern

Europe, Middle East and Africa)

12 Years

Iskra Simidchieva, CFA Health Care (Pharmaceuticals, Medical

Equipment, Biotechnology)

9 Years

Alexandre Marrucho Emerging Markets (Latin America)

5 Years

Elan Ariel Energy

2 Years

Sarah Daniels Industrials & Materials

2 Years

Analysts are industry specialists; narrow breadth allows for deep focus

Team of 20 investment professionals with 16 years average industry experience

As of 04/07/2016. Years of industry experience, as of 01/01/2016.

Andrew Bernstein Energy

(Exploration & Production, Services)

20 Years

Sector Leader: Energy, Utilities, Materials

John M. Novak, CFA Industrials (Heavy Machinery, Transportation),

Consumer (Automotive)

20 Years

Sector Leader: Industrials, Health Care, Financials

Emanuela Scura Consumer (Retail, Food and Beverage, Apparel)

15 Years

Sector Leader: Consumer, TMT

14

CORPORATE CREDIT DEFAULT RATES

Short investment horizons result in significantly lower default probabilities and offer more

clarity regarding individual credit outlooks

Source: Moody’s US Municipal Bond Defaults and Recoveries 1970-2014. Chart presents two-year and ten-year average cumulative default rates (CDR) for corporate issuers over the period 1970-2014. CDRs are calculated by averaging the default experience of cohorts made up of Moody’s-rated credits formed at monthly frequencies throughout the study period. The average CDR represents the historically-observed probability that a credit with a particular rating that would have otherwise remained outstanding will default during a specified length of time. Because cohorts are formed at a monthly frequency and then averaged over, these rates are only conditional on a credit’s rating independent of its seasoning.

CUMULATIVE DEFAULT RATES

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

A Baa Ba B Caa

Cumulative Default Rate over a 2 year horizon Cumulative Default Rate over a 10 year horizon

15

CREDIT QUALITY DISTRIBUTION

The Fund's portfolio is actively managed and credit quality distribution may change significantly over time. Totals may not equal 100% due to rounding. Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor’s, Moody’s, and Fitch. Where the rating agencies rate a security differently. Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. A portion of the portfolio’s securities are not rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. *Source: BofA Merrill Lynch. Please see “Important Performance and Other Information”

Strategic Allocation creates a “quality barbell” around the 1 – 3 year Corporate Index

AS OF 03/31/2016

4.4 3.1

23.1

5.7

11.1

37.6

14.6

0.4 0.0 0.0 1.6

15.6

48.4

34.4

0.0 0.0 0%

10%

20%

30%

40%

50%

60%

U.S. Treasury Agency AAA AA A BBB <BBB Not Rated

% o

f P

ort

folio

Short Duration Income Fund BofA Merrill Lynch 1-3 Year U.S. Corporate Index*

16

PROPRIETARY MODELS

Risk Reporting

Multi-dimensional risk model. Quantifies relative risk exposures by

sector, sub-sector, issuer and issue including interest rates, volatility and

term structure.

Sector

Allocation

Security

Selection

Risk

Management

Sector Allocation Model

Allocation tool based on econometric modeling. Suggests optimal level

and composition of credit exposures with an overlay of qualitative

judgment to determine final allocations.

Credit Valuation Model

Fair value model based on multi-variable curve-fitting analysis of market

data. Identifies securities with attractive option-adjusted spreads to

prompt bottom-up, fundamental analysis.

17

TRUE SHORT DURATION

The strategy has historically maintained a short effective duration and a short spread

duration, limiting both interest rate and credit sensitivity

Past performance is not a reliable indicator or guarantee of future results.

Lord Abbett Short Duration Credit

Effective & Spread Duration Since 12/31/2007

0

1

2

3

4

5

De

c-0

7

Ma

r-0

8

Jun-0

8

Sep-0

8

De

c-0

8

Ma

r-0

9

Jun-0

9

Sep-0

9

De

c-0

9

Ma

r-1

0

Jun-1

0

Sep-1

0

De

c-1

0

Ma

r-1

1

Jun-1

1

Sep-1

1

De

c-1

1

Ma

r-1

2

Jun-1

2

Sep-1

2

De

c-1

2

Ma

r-1

3

Jun-1

3

Sep-1

3

De

c-1

3

Ma

r-1

4

Jun-1

4

Sep-1

4

De

c-1

4

Ma

r-1

5

Jun-1

5

Sep-1

5

De

c-1

5

Ma

r-1

6

Years

Effective Duration Spread Duration

2.2 Years

2.0 Years

18

DURATION DISTRIBUTION

Data as of 03/31/2016. *Source: BofA Merrill Lynch. Past performance is not a reliable indicator or guarantee of future results.

Short Duration Income Fund

BofA Merrill Lynch 1-3 Year U.S. Corporate Index*

Average Effective Duration 2.0 Years 1.9 Years

Average Life 2.5 Years 2.0 Years

Spread Duration 2.2 Years 2.0 Years

26.4

13.8

7.6 9.9 8.6

10.3 7.7

6.3 5.1 3.2

0.9 0.1 0%

10%

20%

30%

0.0-0.5years

0.5-1.0years

1.0-1.5years

1.5-2.0years

2.0-2.5years

2.5-3.0years

3.0-3.5years

3.5-4.0years

4.0-4.5years

4.5-5.0years

5.0-5.5years

5.5-6.0years

EFFECTIVE DURATION

13.8 15.7

9.4 9.3 10.4 11.3

7.7 9.6

7.5 4.5

0.6 0.2 0.0 0%

10%

20%

30%

0.0-0.5years

0.5-1.0years

1.0-1.5years

1.5-2.0years

2.0-2.5years

2.5-3.0years

3.0-3.5years

3.5-4.0years

4.0-4.5years

4.5-5.0years

5.0-5.5years

5.5-6.0years

6.0-6.5years

SPREAD DURATION

19

0.50

1.50

2.50

3.50

4.50

5.50

6.50

7.50

0.50 1.50 2.50 3.50 4.50 5.50 6.50 7.50

Sh

ort

Dura

tio

n In

co

me

Fu

nd

Cla

ss I S

ha

re (

%)

Morningstar Category Average Performance (%)

CONSISTENT RETURNS VS. CATEGORY

Source: Lord Abbett and Morningstar , Inc. Note: Short Duration Income Fund Class A share returns (NAV) vs. Morningstar Short-Term Bond Category Average . Morningstar peer group average returns are based on all share classes within the category and include the reinvested dividends and capital gains, if any, and exclude sales charges. Performance during other time periods may have been different or negative. Due to market volatility the Fund may not perform in a similar manner in the future. The performance data quoted reflect past performance and are no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. You can obtain performance data current to the most recent month-end by calling Lord Abbett at 888-522-2388 or referring to lordabbett.com.

EXCESS RETURNS VS. SHORT TERM BOND CATEGORY AVERAGE (ROLLING 3 YEAR RETURNS: 01/01/08 – 03/31/2016)

In 64 Rolling 3-year periods from

2008 – 2016, the strategy has

outperformed the Morningstar Category

Average 100% of the time.

20

AVERAGE ANNUAL RATES OF RETURN (A SHARES)

Performance data quoted reflect past performance and are no guarantee of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. You can obtain performance data current to the most recent month-end by calling Lord Abbett at 888-522-2388 or referring to lordabbett.com. †The Fund implemented its current investment strategy effective 12/14/2007. The performance of the Fund for periods prior to 12/14/2007 is not representative of the Fund's current investment strategy. The change in investment approach may affect the Fund's performance in the future. *All results are calculated in accordance with the SEC mandated standard methodology, but do not reflect deduction of any front-end sales charges (which are waived for certain defined contribution plans and certain mutual fund advisory programs.) If those charges were deducted, the returns would be lower. All results are based on changes in net asset value and assume reinvestment of all distributions. Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A Shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one-year anniversary of the purchase falls. The CDSC is not reflected in the Average Annual Total Returns. If the CDSC was included, performance would be lower. Please see the Prospectus for more information on redemptions that may be subject to a CDSC. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. Returns for periods of less than one year are not annualized.**Source: BofA Merrill Lynch. ***Source: Lipper Analytical Services. Lipper Funds Averages are based on a universe of funds with similar investment objectives as the Fund. Lipper peer group average returns are based on all share classes within the category and include the reinvested dividends and capital gains, if any, and exclude sales charges. Please see "Important Performance and Other Information."

AS OF 03/31/2016

1.24 0.71

1.45

2.73

4.40 4.52

1.22 1.39 1.55 2.14

3.36 3.73

0.80 0.34

0.67

1.39

2.12 2.57

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

1Q 2016 1 Year 3 Years 5 Years Since 12/14/2007† 10 Years

% R

etu

rn

Short Duration Income Fund Class A Shares* BofA Merrill Lynch 1-3 Year U.S. Corporate Index**

Lipper Short Investment Grade Debt Funds Average***

Expense Ratio: 0.60%

21

AVERAGE ANNUAL RATES OF RETURN (I SHARES)

Performance data quoted reflect past performance and are no guarantee of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. You can obtain performance data current to the most recent month-end by calling Lord Abbett at 888-522-2388 or referring to lordabbett.com. †The Fund implemented its current investment strategy effective 12/14/2007. The performance of the Fund for periods prior to 12/14/2007 is not representative of the Fund's current investment strategy. The change in investment approach may affect the Fund's performance in the future. *Average Annual Total Returns are based on changes in net asset value and assume reinvestment of all distributions and do not reflect deduction of any front-end sales charges which are not applicable for Class I Shares, if these charges were included returns would be lower. Class I Shares are not subject to sales charges and are available only to institutional investors and certain others, including retirement plans. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. Returns for periods of less than one year are not annualized.**Source: BofA Merrill Lynch. ***Source: Lipper Analytical Services. Lipper Funds Averages are based on a universe of funds with similar investment objectives as the Fund. Lipper peer group average returns are based on all share classes within the category and include the reinvested dividends and capital gains, if any, and exclude sales charges. Please see "Important Performance and Other Information."

AS OF 03/31/2016

1.29 0.90

1.64

2.97

4.66 4.80

1.22 1.39 1.55 2.14

3.36 3.73

0.80 0.34

0.67

1.39

2.12 2.57

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

1Q 2016 1 Year 3 Years 5 Years Since 12/14/2007† 10 Years

% R

etu

rn

Short Duration Income Fund Class I Shares* BofA Merrill Lynch 1-3 Year U.S. Corporate Index**

Lipper Short Investment Grade Debt Funds Average***

Expense Ratio: 0.40%

22

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23

IMPORTANT PERFORMANCE AND OTHER INFORMATION

Morningstar Information:

Morningstar, Inc. ©2016. All rights reserved. The information contained herein is the proprietary information of Morningstar, Inc., may not be copied or

redistributed for any purpose and may only be used for non-commercial, personal purposes. The information contained herein is not represented or warranted to

be accurate, correct, complete or timely. Morningstar, Inc., shall not be responsible for investment decisions, damages, or other losses resulting from the use of

this information. Past performance is no guarantee of future performance. Morningstar, Inc. has not granted consent for it to be considered or deemed an "expert"

under the Securities Act of 1933.

Lipper Information:

Lipper, Inc. ©2016 Reuters. All rights reserved. Any copy, republication or redistribution of Lipper content is expressly prohibited without the prior written consent

of Lipper.

Performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the

performance data quoted. The investment return and principal value of an investment in any fund will fluctuate as the prices of the individual securit ies in which

they invest fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Different investments carry different risk.

Index Information: Indexes are unmanaged, do not reflect the deduction of fees or expenses, and an investor cannot invest directly in an index.

A Note About Risk

Short Duration Income Fund: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest

rate risk. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt

securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Debt securities are subject to credit risk, which is the risk that

the issuer will fail to make timely payments of interest and principal to the Fund. The Fund may invest in high yield, lower-rated debt securities, sometimes called

junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of

default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by

economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to

greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

24

IMPORTANT PERFORMANCE AND OTHER INFORMATION

Investors should carefully consider the investment objectives, risks, charges, and expenses of

the Lord Abbett Funds. This and other important information is contained in the fund’s summary

prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord

Abbett mutual fund, contact your investment professional, Lord Abbett Distributor LLC at (888)

522-2388 or visit us at lordabbett.com. Read the prospectus carefully before you invest.

Mutual funds are not insured by the FDIC, are not deposits or other obligations of, or guaranteed

by banks, and are subject to investment risks including possible loss of principal amount

invested. Lord Abbett Distributor LLC is the principal underwriter of the Lord Abbett Mutual

Funds.