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Lord Abbett CA Tax-Free Income C (CALAX) Fund Ranking and Research
Ranking, Research and Recommendation of Lord Abbett CA Tax-Free Income C (CALAX) Fund
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Fund Manager - Daniel S. Solender
Fund Manager Information
Fund Manager Tenure: 13.2 yearsFund Family: Lord Abbett
Fund Category: Muni California Long
Fund Performance: May 30, 2016
Fundmojo Fund Grade: D (Score: 0.44) (What does this score mean?)
Mr. Solender is the lead portfolio manager of the municipal bond capabilities. Mr. Solender joined Lord Abbett in 2006 and was named Partner in 2008. His prior experience includes: Vice President and Portfolio Manager at Nuveen Investments; Principal and Portfolio Manager at Vanguard Group; Assistant Vice President and Portfolio Manager at Nuveen Advisory Corp.; Financial Analyst/Assistant Manager, Research and Product Development at Citibank. Mr. Solender received a BA from Columbia University and an MBA from the University of Chicago. He is the holder of a Chartered Financial Analyst designation and has been in the investment business since 1987. Get more insights on Daniel S. Solender
Lord Abbett CA Tax-Free Income C Fund (CALAX) Profile
Fund Profile and Description
Lord Abbett CA Tax-Free Income C Fund seeks income exempt from federal and California income taxes. Lord Abbett CA Tax-Free Income C Fund normally invests at least 80% of net asset in municipal bonds, the interest on which is exempt from federal and California's personal income tax. It may invest up to 20% of net assets in municipal bonds rated below investment grade. It may also invest up to 20% of net assets in other fixed income securities with interest subject to federal and California's personal income tax. It may maintain the average weighted maturity between 10 and 25 years. It is non-diversified.
What we like about Lord Abbett CA Tax-Free Income C (CALAX) Fund
Data for Lord Abbett CA Tax-Free Income C Fund (CALAX) as of May 30, 2016
- Lord Abbett CA Tax-Free Income C Fund (CALAX) management has been with Lord Abbett CA Tax-Free Income C Fund for 13.2 years
- Lord Abbett CA Tax-Free Income C Fund (CALAX) ratio of up-years vs down years is greater than 2
- Asset base in Lord Abbett CA Tax-Free Income C Fund (CALAX) has been consistently increasing at a reasonable pace in the last 2 months. It shows investor confidence and market support
- Lord Abbett CA Tax-Free Income C Fund (CALAX) has an annual stock turnover rate of 15.10% vs Muni California Long average of 19.12%. It is good that Lord Abbett CA Tax-Free Income C management does not trade extensively for its return.
What we are cautious about Lord Abbett CA Tax-Free Income C (CALAX) Fund
Data for Lord Abbett CA Tax-Free Income C Fund (CALAX) as of May 30, 2016
- Lord Abbett CA Tax-Free Income C Fund (CALAX) has a less-than-ideal short-term performance (1-year return 6.30% vs 6.63% Muni California Long category median performance)
- Lord Abbett CA Tax-Free Income C Fund (CALAX) has a less-than-ideal mid-term performance (3-year return 4.38% vs 4.68% Muni California Long category median performance)
- Lord Abbett CA Tax-Free Income C Fund (CALAX) has a less-than-ideal Long-term performance (5-year return 6.38% vs 6.44% Muni California Long category median performance)
- Lord Abbett CA Tax-Free Income C Fund (CALAX) has a Morningstar rating of 3 and below
- Lord Abbett CA Tax-Free Income C Fund (CALAX) is less safe compared to its Muni California Long peers
- Lord Abbett CA Tax-Free Income C Fund (CALAX) is more volatile than its peers as it has a 3-year Standard Deviation of 4.49 that is higher than category average of 4.35
- Lord Abbett CA Tax-Free Income C Fund (CALAX) has a higher expense ratio of 1.45% than its Muni California Long average of 0.88%
- Lord Abbett CA Tax-Free Income C Fund (CALAX) carries a 1% load
What do you think?
Compare with other top Muni California Long category mutual funds
Aadditional top Muni California Long mutual funds for your consideration
Fund | Year to Date | 1 Year | 3 year | 5 year | |
Lord Abbett CA Tax-Free Income C | 3.34 | 6.30 | 4.38 | 6.38 | |
American Century CA Hi-Yld Muni Inv (BCHYX) | 4.25 | 8.69 | 6.05 | 7.62 | Compare |
Franklin CA High Yield Municipal A (FCAMX) | 4.21 | 8.37 | 6.05 | 8.83 | Compare |
Invesco CA Tax-Free Income Y (CLFDX) | 3.58 | 7.59 | 5.24 | 7.01 | Compare |
See top fund managers for Muni California Long Category Funds
Compare with Muni California Long category ETFs
Some Muni California Long ETFs for your consideration
ETF | Year to Date | One Year | Three Year | SPDR Nuveen Barclays CA Muni Bd ETF (CXA) | 3.30% | 7.63% | 5.25% |
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Lord Abbett CA Tax-Free Income C (CALAX) Fund Net Asset
Track net asset change of Lord Abbett CA Tax-Free Income C fund (CALAX)
Date | Net Asset |
05/2016 | $312.79M |
03/2016 | $296.39M |
02/2016 | $286.67M |
Lord Abbett CA Tax-Free Income C (CALAX) Fund Portfolio Allocation
Track portfolio allocation change of Lord Abbett CA Tax-Free Income C fund (CALAX)
Date | Cash | Stock | Bond | Other |
03/2016 | 2.53% | 0% | 96.64% | 0.83% |
12/2015 | 2.98% | 0% | 96.13% | 0.89% |
09/2015 | 0.93% | 0% | 98.17% | 0.9% |
Top 10 Holdings in Lord Abbett CA Tax-Free Income C (CALAX) Fund
Discover what Lord Abbett CA Tax-Free Income C Fund (CALAX) manager is buying
California St Var Purp 5.25% [1.61%] California St Go Bds 6.5% [1.37%] California St Go Bds 5.25% [1.2%] San Mateo Calif Jt Pwrs Fing A Lea 5.25% [1.16%] Foothill / Eastern Transn Corr Ref Re 6% [1.15%] Bay Area Toll Auth 5% [1.12%] California St For Previous Iss Var 5.25% [1.05%] California Mun Fin Auth 5% [0.89%] | California St Var Purp 5.25% [1.73%] California St Go Bds 6.5% [1.5%] California St Go Bds 5.25% [1.3%] San Mateo Calif Jt Pwrs Fing A Lea 5.25% [1.25%] Bay Area Toll Auth 5% [1.21%] Foothill / Eastern Transn Corr Ref Re 6% [1.19%] California St For Previous Iss Var 5.25% [1.13%] California Mun Fin Auth 5% [0.95%] | California St Var Purp 5.25% [1.77%] California St Go Bds 6.5% [1.58%] California St Go Bds 5.25% [1.31%] San Mateo Calif Jt Pwrs Fing A Lea 5.25% [1.3%] Bay Area Toll Auth 5% [1.25%] Foothill / Eastern Transn Corr Ref Re 6% [1.22%] California St For Previous Iss Var 5.25% [1.14%] California Mun Fin Auth 5% [0.97%] |
Latest News on Lord Abbett CA Tax-Free Income C (CALAX) Fund
See what is happening with Lord Abbett CA Tax-Free Income C Fund (CALAX)
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Popular pages on Lord Abbett CA Tax-Free Income C (CALAX) Fund
- Lord Abbett CA Tax-Free Income C (CALAX) Fund Research and Recommendation
- Lord Abbett CA Tax-Free Income C (CALAX) Fund Performance Data
- Lord Abbett CA Tax-Free Income C (CALAX) Fund Manager Information
- Historic Lord Abbett CA Tax-Free Income C (CALAX) Fund Asset Allocation Report
- Historic Lord Abbett CA Tax-Free Income C (CALAX) Fund Top 10 Holding Tracking
- Historic Lord Abbett CA Tax-Free Income C (CALAX) Fund Asset Under Management Tracking