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: 12.9 years
Fund 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 12.9 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

See Lord Abbett CA Tax-Free Income C Fund (CALAX) performance details as of May 30, 2016

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%

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

More historic net asset information on Lord Abbett CA Tax-Free Income C Fund (CALAX)

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%

Click here to see more historic asset allocation information on Lord Abbett CA Tax-Free Income C Fund (CALAX)

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

Mar 30, 2016

San Joaquin Hills Calif Transn Sr Lie 5% [1.69%]
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%]

Dec 30, 2015

San Joaquin Hills Calif Transn Sr Lie 5% [1.81%]
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%]

Sep 29, 2015

San Joaquin Hills Calif Transn Sr Lie 5% [1.83%]
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%]

Click here for Stock Holding Change Map in Lord Abbett CA Tax-Free Income C Fund (CALAX)

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