Lord Abbett Global Fund N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-05476

LORD ABBETT GLOBAL FUND, INC.

(Exact name of Registrant as specified in charter)

90 Hudson Street, Jersey City, New Jersey 07302-3973

(Address of principal executive offices) (Zip code)

Lawrence B. Stoller, Esq.

Vice President, Secretary, and Chief Legal Officer

90 Hudson Street, Jersey City, New Jersey 07302-3973

(Name and address of agent for service)

Registrant’s telephone number, including area code: (888) 522-2388

Date of fiscal year end: 12/31

Date of reporting period: 6/30/2023

Item 1: Report(s) to Shareholders.

LORD ABBETT
SEMIANNUAL REPORT

Lord Abbett

Emerging Markets Bond Fund

Emerging Markets Corporate Debt Fund

Global Bond Fund

For the six-month period ended June 30, 2023

Table of Contents

1	A Letter to Shareholders
2	Information About Your Fund’s Expenses and Holdings Presented by Sector
	Schedules of Investments:
9	Emerging Markets Bond Fund
21	Emerging Markets Corporate Debt Fund
34	Global Bond Fund
51	Statements of Assets and Liabilities
55	Statements of Operations
57	Statements of Changes in Net Assets
60	Financial Highlights
72	Notes to Financial Statements
96	Supplemental Information to Shareholders

Lord Abbett Global Fund, Inc.
Lord Abbett Emerging Markets Bond Fund,
Lord Abbett Emerging Markets Corporate Debt Fund,
and Lord Abbett Global Bond Fund
Semiannual Report

For the six-month period ended June 30, 2023

  From left to right: James L.L. Tullis, Independent Chair of the Lord Abbett Funds and Douglas B. Sieg, Director, President and Chief Executive Officer of the Lord Abbett Funds.  Dear Shareholders: We are pleased to provide you with this semiannual report for the Funds for the six-month period ended June 30, 2023. For additional information about the Funds, please visit our website at www.lordabbett.com, where you also can access the quarterly commentaries by the Funds’ portfolio managers. General information about Lord Abbett mutual funds, as well as in-depth discussions of market trends and investment strategies, is also provided in Lord Abbett Insights, a quarterly newsletter available on our website. Thank you for investing in Lord Abbett mutual funds. We value the trust that you place in us and look forward to serving your investment needs in the years to come.   Best regards, Douglas B. Sieg Director, President and Chief Executive Officer

1

Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments (these charges vary among the share classes); and (2) ongoing costs, including management fees; distribution and service (12b-1) fees (these charges vary among the share classes); and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in each Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (January 1, 2023 through June 30, 2023).

Actual Expenses

For each class of each Fund, the first line of the applicable table on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading titled “Expenses Paid During Period 1/1/23 – 6/30/23” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

For each class of each Fund, the second line of the applicable table on the following pages provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in each Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

2

Emerging Markets Bond Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	1/1/23		6/30/23		1/1/23 - 6/30/23
Class A
Actual	$	1,000.00	$	1,032.10	$	4.94
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.93	$	4.91
Class C
Actual	$	1,000.00	$	1,028.70	$	8.20
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,016.71	$	8.15
Class F
Actual	$	1,000.00	$	1,033.10	$	3.93
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.93	$	3.91
Class F3
Actual	$	1,000.00	$	1,033.20	$	3.88
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.98	$	3.86
Class I
Actual	$	1,000.00	$	1,033.10	$	3.93
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.93	$	3.91
Class R3
Actual	$	1,000.00	$	1,030.60	$	6.44
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.45	$	6.41
Class R4
Actual	$	1,000.00	$	1,031.80	$	5.19
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.69	$	5.16
Class R5
Actual	$	1,000.00	$	1,033.10	$	3.98
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.88	$	3.96
Class R6
Actual	$	1,000.00	$	1,033.20	$	3.88
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.98	$	3.86

^†  For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.98% for Class A, 1.63% for Class C, 0.78% for Class F, 0.77% for Class F3, 0.78% for Class I, 1.28% for Class R3, 1.03% for Class R4, 0.79% for Class R5 and 0.77% for Class R6) multiplied by the average account value over the period, multiplied by 181/365 (to reflect one-half year period).

3

Portfolio Holdings Presented by Sector

June 30, 2023

Sector*	%**
Basic Materials		1.25	%
Communications		0.75	%
Consumer Non-Cyclical		0.29	%
Energy		16.78	%
Financial		4.09	%
Foreign Government		68.14	%
Industrial		0.35	%
Utilities		5.74	%
Repurchase Agreements		2.61	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

4

Emerging Markets Corporate Debt Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

		Beginning Account Value		Ending Account Value		Expenses Paid During Period†
		1/1/23		6/30/23		1/1/23 - 6/30/23
Class A
Actual		$	1,000.00	$	1,018.50	$	5.26
Hypothetical (5% Return Before Expenses)		$	1,000.00	$	1,019.59	$	5.26
Class C
Actual		$	1,000.00	$	1,014.60	$	8.34
Hypothetical (5% Return Before Expenses)		$	1,000.00	$	1,016.51	$	8.35
Class F
Actual		$	1,000.00	$	1,018.90	$	4.76
Hypothetical (5% Return Before Expenses)		$	1,000.00	$	1,020.08	$	4.76
Class F3*
Actual		$	1,000.00	$	1,020.20	$	3.56
Hypothetical (5% Return Before Expenses)		$	1,000.00	$	1,021.27	$	3.56
Class I
Actual		$	1,000.00	$	1,018.70	$	4.25
Hypothetical (5% Return Before Expenses)		$	1,000.00	$	1,020.58	$	4.26
Class R3
Actual		$	1,000.00	$	1,017.00	$	6.75
Hypothetical (5% Return Before Expenses)		$	1,000.00	$	1,018.10	$	6.76
Class R4
Actual		$	1,000.00	$	1,018.20	$	5.50
Hypothetical (5% Return Before Expenses)		$	1,000.00	$	1,019.34	$	5.51
Class R5
Actual		$	1,000.00	$	1,019.60	$	4.26
Hypothetical (5% Return Before Expenses)		$	1,000.00	$	1,020.58	$	4.26
Class R6*
Actual	��	$	1,000.00	$	1,019.40	$	3.55
Hypothetical (5% Return Before Expenses)		$	1,000.00	$	1,021.27	$	3.56

†	For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (1.05% for Class A, 1.67% for Class C, 0.95% for Class F, 0.71% for Class F3, 0.85% for Class I, 1.35% for Class R3, 1.10% for Class R4, 0.85% for Class R5 and 0.71% for Class R6) multiplied by the average account value over the period, multiplied by 181/365 (to reflect one-half year period).
*	The annualized expenses have been updated to 0.70% for Classes F3 and R6. Had these updated expense ratios been in place throughout the most recent fiscal half-year, expenses paid during the period would have been:

	Actual		Hypothetical (5% Return Before Expenses)
Class F3	$	3.51	$	3.51
Class R6	$	3.50	$	3.51

5

Portfolio Holdings Presented by Sector

June 30, 2023

Sector*	%**
Basic Materials		12.60	%
Communications		7.02	%
Consumer Cyclical		7.54	%
Consumer Non-Cyclical		4.74	%
Diversified		1.78	%
Energy		23.77	%
Financial		19.52	%
Foreign Government		3.80	%
Industrial		3.96	%
Technology		2.80	%
Utilities		10.24	%
Repurchase Agreements		2.23	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

6

Global Bond Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	1/1/23		6/30/23		1/1/23 - 6/30/23
Class A
Actual	$	1,000.00	$	1,013.10	$	3.89
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.93	$	3.91
Class C
Actual	$	1,000.00	$	1,010.00	$	6.98
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,017.85	$	7.00
Class F
Actual	$	1,000.00	$	1,014.10	$	2.90
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.92	$	2.91
Class F3*
Actual	$	1,000.00	$	1,014.10	$	2.85
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.97	$	2.86
Class I
Actual	$	1,000.00	$	1,014.10	$	2.90
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.92	$	2.91
Class R3
Actual	$	1,000.00	$	1,011.60	$	5.39
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.44	$	5.41
Class R4
Actual	$	1,000.00	$	1,012.80	$	4.14
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.68	$	4.16
Class R5
Actual	$	1,000.00	$	1,014.10	$	2.90
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.92	$	2.91
Class R6*
Actual	$	1,000.00	$	1,012.90	$	2.84
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.97	$	2.86

†	For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.78% for Class A, 1.40% for Class C, 0.58% for Class F, 0.57% for Class F3, 0.58% for Class I, 1.08% for Class R3, 0.83% for Class R4, 0.58% for Class R5 and 0.57% for Class R6) multiplied by the average account value over the period, multiplied by 181/365 (to reflect one-half year period).
*	The annualized expenses have been updated to 0.58% for Classes F3 and R6. Had these updated expense ratios been in place throughout the most recent fiscal half-year, expenses paid during the period would have been:

	Actual		Hypothetical (5% Return Before Expenses)
Class F3	$	2.90	$	2.91
Class R6	$	2.89	$	2.91

7

Portfolio Holdings Presented by Sector

June 30, 2023

Sector*	%**
Asset Backed Securities		8.10	%
Basic Materials		1.04	%
Communications		4.29	%
Consumer Cyclical		5.06	%
Consumer Non-Cyclical		6.33	%
Diversified		1.07	%
Energy		5.98	%
Financials		18.20	%
Foreign Government		14.13	%
Industrials		6.98	%
Mortgage-Backed Securities		10.79	%
Municipal		0.39	%
Technology		2.34	%
U.S. Government		8.55	%
Utilities		4.63	%
Repurchase Agreements		2.12	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

8

Schedule of Investments (unaudited)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 97.16%
CORPORATE BONDS 29.41%
Bahrain 0.47%
Oil & Gas
Oil & Gas Holding Co. BSCC	7.625%	11/7/2024	$	550,000	$	560,358
Brazil 1.56%
Banks 0.66%
Banco do Brasil SA†	3.25%	9/30/2026		850,000		784,604
Media 0.40%
Globo Comunicacao e Participacoes SA†	4.875%	1/22/2030		600,000		478,208
Oil & Gas 0.50%
Petrobras Global Finance BV(a)	6.50%	7/3/2033		617,000		604,660
Total Brazil						1,867,472
Chile 2.04%
Electric 0.31%
Alfa Desarrollo SpA†	4.55%	9/27/2051		497,535		365,542
Mining 1.03%
Corp. Nacional del Cobre de Chile†	3.00%	9/30/2029		575,000		505,801
Corp. Nacional del Cobre de Chile	3.75%	1/15/2031		800,000		727,408
						1,233,209
Oil & Gas 0.70%
Empresa Nacional del Petroleo†	3.45%	9/16/2031		1,000,000		838,115
Total Chile						2,436,866
China 0.52%
Internet 0.35%
Prosus NV†	3.832%	2/8/2051		675,000		415,113
Investment Companies 0.17%
Huarong Finance 2019 Co. Ltd.	3.375%	2/24/2030		270,000		204,768
Total China						619,881
Colombia 1.10%
Oil & Gas 0.83%
Ecopetrol SA	5.875%	11/2/2051		300,000		198,817
Ecopetrol SA(a)	8.625%	1/19/2029		793,000		795,815
						994,632

See Notes to Financial Statements. 9

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Colombia (continued)
Pipelines 0.27%
AI Candelaria Spain SA†	5.75%		6/15/2033	$	437,000	$	324,291
Total Colombia							1,318,923
India 1.30%
Commercial Services 0.29%
Adani Ports & Special Economic Zone Ltd.†	3.10%		2/2/2031		500,000		350,311
Oil & Gas 0.66%
Reliance Industries Ltd.†	2.875%		1/12/2032		950,000		792,850
Transportation 0.35%
Indian Railway Finance Corp. Ltd.	2.80%		2/10/2031		500,000		413,374
Total India							1,556,535
Indonesia 2.86%
Coal 0.42%
Indika Energy Capital IV Pte. Ltd.	8.25%		10/22/2025		500,000		497,875
Electric 1.27%
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara†	4.00%		6/30/2050		880,000		629,840
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara†	4.125%		5/15/2027		930,000		886,687
							1,516,527
Oil & Gas 1.17%
Pertamina Persero PT†	3.10%		1/21/2030		900,000		795,375
Pertamina Persero PT†	5.625%		5/20/2043		630,000		607,797
							1,403,172
Total Indonesia							3,417,574
Israel 0.74%
Banks
Bank Hapoalim BM†	3.255% (5 yr. CMT + 2.16%	)#	1/21/2032		480,000		412,671
Bank Leumi Le-Israel BM†	3.275% (5 yr. CMT + 1.63%	)#	1/29/2031		200,000		179,228
Bank Leumi Le-Israel BM†	5.125%		7/27/2027		300,000		298,315
Total Israel							890,214

10 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
Kazakhstan 1.99%
Oil & Gas 1.13%
KazMunayGas National Co. JSC†	4.75%		4/19/2027		$	700,000	$	665,459
KazMunayGas National Co. JSC†	6.375%		10/24/2048			300,000		257,156
Tengizchevroil Finance Co. International Ltd.†	3.25%		8/15/2030			560,000		428,876
								1,351,491
Pipelines 0.86%
QazaqGaz NC JSC†	4.375%		9/26/2027			1,100,000		1,026,888
Total Kazakhstan								2,378,379
Kuwait 0.38%
Banks
NBK Tier 1 Financing 2 Ltd.†	4.50% (6 yr. CMT + 2.83%	)#	–	(b)		500,000		460,420
Malaysia 2.22%
Oil & Gas
Petronas Capital Ltd.†	2.48%		1/28/2032			1,000,000		835,992
Petronas Capital Ltd.†	3.404%		4/28/2061			1,300,000		928,421
Petronas Energy Canada Ltd.†	2.112%		3/23/2028			1,000,000		888,802
Total Malaysia								2,653,215
Mexico 3.33%
Electric 0.93%
Comision Federal de Electricidad†	3.348%		2/9/2031			625,000		494,524
Comision Federal de Electricidad	3.875%		7/26/2033			800,000		619,699
								1,114,223
Oil & Gas 2.40%
Petroleos Mexicanos	6.49%		1/23/2027			264,000		234,803
Petroleos Mexicanos	6.50%		6/2/2041			833,000		529,722
Petroleos Mexicanos	6.70%		2/16/2032			882,000		671,409
Petroleos Mexicanos	6.75%		9/21/2047			880,000		553,408
Petroleos Mexicanos	6.84%		1/23/2030			1,110,000		883,506
								2,872,848
Total Mexico								3,987,071
Morocco 0.21%
Chemicals
OCP SA†	5.125%		6/23/2051			350,000		255,934
Oman 0.97%
Electric
OmGrid Funding Ltd.†	5.196%		5/16/2027			1,200,000		1,162,516

See Notes to Financial Statements. 11

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Panama 0.70%
Banks 0.33%
Banco Nacional de Panama†	2.50%	8/11/2030	$	500,000	$	393,872
Multi-National 0.37%
Banco Latinoamericano de Comercio Exterior SA†	2.375%	9/14/2025		478,000		443,912
Total Panama						837,784
Paraguay 0.23%
Banks
Banco Continental SAECA†	2.75%	12/10/2025		300,000		271,400
Peru 0.46%
Banks
Banco Internacional del Peru SAA Interbank†	3.25%	10/4/2026		590,000		549,375
Qatar 1.51%
Oil & Gas
QatarEnergy†	2.25%	7/12/2031		1,500,000		1,259,932
QatarEnergy†	3.30%	7/12/2051		750,000		552,064
Total Qatar						1,811,996
Saudi Arabia 1.28%
Electric 0.45%
Acwa Power Management & Investments One Ltd.†	5.95%	12/15/2039		548,741		535,443
Oil & Gas 0.34%
Saudi Arabian Oil Co.	2.25%	11/24/2030		300,000		250,059
Saudi Arabian Oil Co.†	3.25%	11/24/2050		225,000		156,566
						406,625
Pipelines 0.49%
EIG Pearl Holdings Sarl†	3.545%	8/31/2036		685,000		585,665
Total Saudi Arabia						1,527,733
South Africa 1.62%
Electric
Eskom Holdings SOC Ltd.	6.35%	8/10/2028		700,000		653,653
Eskom Holdings SOC Ltd.†	7.125%	2/11/2025		1,300,000		1,280,585
Total South Africa						1,934,238
South Korea 0.41%
Energy-Alternate Sources
Hanwha Energy USA Holdings Corp.†	4.125%	7/5/2025		500,000		484,459

12 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Supranational 0.38%
Multi-National
African Export-Import Bank†	2.634%		5/17/2026	$	500,000	$	451,695
Thailand 0.69%
Oil & Gas
Thaioil Treasury Center Co. Ltd.†	3.50%		10/17/2049		1,300,000		829,989
Turkey 0.56%
Banks
Akbank TAS	6.80%		2/6/2026		700,000		669,655
United Arab Emirates 1.88%
Electric 0.18%
Abu Dhabi National Energy Co. PJSC†	4.696%		4/24/2033		220,000		219,030
Energy-Alternate Sources 0.44%
Sweihan PV Power Co. PJSC†	3.625%		1/31/2049		652,299		527,933
Investment Companies 0.26%
MDGH GMTN RSC Ltd.†	5.50%		4/28/2033		300,000		315,586
Pipelines 0.65%
Galaxy Pipeline Assets Bidco Ltd.†	3.25%		9/30/2040		1,000,000		776,704
Sovereign 0.35%
Finance Department Government of Sharjah	3.625%		3/10/2033		500,000		411,700
Total United Arab Emirates							2,250,953
Total Corporate Bonds (cost $39,698,544)							35,184,635
FOREIGN GOVERNMENT OBLIGATIONS 67.75%
Angola 1.43%
Angolan Government International Bonds†	8.25%		5/9/2028		1,000,000		889,770
Angolan Government International Bonds	8.75%		4/14/2032		600,000		506,445
Angolan Government International Bonds†	9.125%		11/26/2049		400,000		309,500
Total Angola							1,705,715
Argentina 1.38%
Argentina Government International Bonds	1.50%	(c)	7/9/2035		2,950,000		887,380
Argentina Government International Bonds	3.50%	(c)	7/9/2041		1,173,000		378,798
Argentina Government International Bonds	3.875%	(c)	1/9/2038		1,081,193		383,850
Total Argentina							1,650,028

See Notes to Financial Statements. 13

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Bahrain 2.79%
Bahrain Government International Bonds†	5.45%		9/16/2032	$	1,550,000	$	1,386,111
Bahrain Government International Bonds†	6.00%		9/19/2044		300,000		239,462
Bahrain Government International Bonds†	7.00%		1/26/2026		1,180,000		1,204,481
CBB International Sukuk Programme Co. WLL†	6.25%		10/18/2030		500,000		505,000
Total Bahrain							3,335,054
Bermuda 0.23%
Bermuda Government International Bonds†	2.375%		8/20/2030		320,000		268,323
Brazil 2.36%
Brazil Government International Bonds	3.75%		9/12/2031		1,650,000		1,427,976
Brazil Government International Bonds	4.75%		1/14/2050		1,431,000		1,057,084
Brazil Government International Bonds	5.00%		1/27/2045		436,000		340,922
Total Brazil							2,825,982
Chile 1.83%
Chile Government International Bonds(a)	4.95%		1/5/2036		1,150,000		1,136,606
Chile Government International Bonds(a)	5.33%		1/5/2054		1,060,000		1,054,404
Total Chile							2,191,010
Colombia 2.26%
Colombia Government International Bonds	3.00%		1/30/2030		505,000		393,790
Colombia Government International Bonds	3.25%		4/22/2032		875,000		649,521
Colombia Government International Bonds	4.125%		5/15/2051		750,000		450,705
Colombia Government International Bonds	5.00%		6/15/2045		1,735,000		1,212,191
Total Colombia							2,706,207
Costa Rica 1.04%
Costa Rica Government International Bonds†	5.625%		4/30/2043		862,000		742,673
Costa Rica Government International Bonds†	6.55%		4/3/2034		500,000		502,750
Total Costa Rica							1,245,423
Dominican Republic 3.01%
Dominican Republic International Bonds†	4.50%		1/30/2030		1,200,000		1,054,679
Dominican Republic International Bonds†	5.30%		1/21/2041		750,000		589,480
Dominican Republic International Bonds†	5.875%		1/30/2060		970,000		754,117
Dominican Republic International Bonds†	5.95%		1/25/2027		1,225,000		1,203,685
Total Dominican Republic							3,601,961
Ecuador 1.23%
Ecuador Government International Bonds†	1.50%	(c)	7/31/2040		3,281,077		1,028,618
Ecuador Government International Bonds†	2.50%	(c)	7/31/2035		1,275,000		445,649
Total Ecuador							1,474,267

14 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Egypt 2.28%
Egypt Government International Bonds†	7.30%	9/30/2033	$	1,400,000	$	774,620
Egypt Government International Bonds	7.50%	1/31/2027		1,150,000		840,558
Egypt Government International Bonds	7.60%	3/1/2029		570,000		370,551
Egypt Government International Bonds†	7.903%	2/21/2048		920,000		474,987
Egypt Government International Bonds†	8.75%	9/30/2051		500,000		271,110
Total Egypt						2,731,826
El Salvador 0.84%
El Salvador Government International Bonds	7.65%	6/15/2035		600,000		356,423
El Salvador Government International Bonds†	8.25%	4/10/2032		1,000,000		647,914
Total El Salvador						1,004,337
Gabon 0.64%
Gabon Government International Bonds†	7.00%	11/24/2031		967,000		769,925
Ghana 1.28%
Ghana Government International Bonds(a)	6.375%	2/11/2027		1,625,000		705,185
Ghana Government International Bonds†	7.625%	5/16/2029		730,000		314,525
Ghana Government International Bonds(a)	8.625%	4/7/2034		500,000		215,375
Ghana Government International Bonds	8.627%	6/16/2049		725,000		300,578
Total Ghana						1,535,663
Guatemala 0.96%
Guatemala Government Bonds†	4.375%	6/5/2027		625,000		592,459
Guatemala Government Bonds†	6.125%	6/1/2050		600,000		552,706
Total Guatemala						1,145,165
Hungary 1.29%
Hungary Government International Bonds	2.125%	9/22/2031		1,200,000		930,461
Hungary Government International Bonds†	6.125%	5/22/2028		600,000		609,940
Total Hungary						1,540,401
Indonesia 2.66%
Indonesia Government International Bonds	1.85%	3/12/2031		2,600,000		2,100,863
Indonesia Government International Bonds	3.50%	2/14/2050		500,000		385,476
Perusahaan Penerbit SBSN Indonesia III†	4.70%	6/6/2032		700,000		695,161
Total Indonesia						3,181,500
Jordan 0.80%
Jordan Government International Bonds†	5.85%	7/7/2030		500,000		459,355
Jordan Government International Bonds†	7.50%	1/13/2029		488,000		491,953
Total Jordan						951,308

See Notes to Financial Statements. 15

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Kazakhstan 1.02%
Kazakhstan Government International Bonds†(d)	1.50%	9/30/2034	EUR	500,000	$	393,110
Kazakhstan Government International Bonds†	4.875%	10/14/2044	$	915,000		826,719
Total Kazakhstan						1,219,829
Kenya 0.95%
Republic of Kenya Government International Bonds†	6.30%	1/23/2034		520,000		394,069
Republic of Kenya Government International Bonds	6.875%	6/24/2024		300,000		286,101
Republic of Kenya Government International Bonds†	7.00%	5/22/2027		500,000		451,234
Total Kenya						1,131,404
Lebanon 0.11%
Lebanon Government International Bonds(e)	6.65%	2/26/2030		1,948,000		132,659
Mexico 2.79%
Mexico Government International Bonds	2.659%	5/24/2031		2,064,000		1,720,972
Mexico Government International Bonds	3.771%	5/24/2061		560,000		382,156
Mexico Government International Bonds	4.875%	5/19/2033		251,000		239,971
Mexico Government International Bonds	6.338%	5/4/2053		974,000		994,607
Total Mexico						3,337,706
Morocco 0.68%
Morocco Government International Bonds†	3.00%	12/15/2032		600,000		475,875
Morocco Government International Bonds†	4.00%	12/15/2050		500,000		337,375
Total Morocco						813,250
Nigeria 2.41%
Nigeria Government International Bonds†	6.50%	11/28/2027		1,850,000		1,616,660
Nigeria Government International Bonds†	7.375%	9/28/2033		1,030,000		813,607
Nigeria Government International Bonds	8.25%	9/28/2051		600,000		449,538
Total Nigeria						2,879,805
Oman 3.14%
Oman Government International Bonds†	4.75%	6/15/2026		2,550,000		2,483,085
Oman Government International Bonds†	6.25%	1/25/2031		300,000		304,986
Oman Government International Bonds†	6.75%	1/17/2048		1,000,000		963,262
Total Oman						3,751,333

16 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Panama 2.93%
Panama Government International Bonds	2.252%	9/29/2032	$	1,300,000	$	996,667
Panama Government International Bonds	3.87%	7/23/2060		1,010,000		671,978
Panama Government International Bonds	4.30%	4/29/2053		925,000		690,618
Panama Government International Bonds	4.50%	4/16/2050		1,475,000		1,146,785
Total Panama						3,506,048
Paraguay 0.90%
Paraguay Government International Bonds†	5.40%	3/30/2050		675,000		578,321
Paraguay Government International Bonds†(a)	5.85%	8/21/2033		500,000		500,801
Total Paraguay						1,079,122
Peru 2.21%
Peruvian Government International Bonds	1.862%	12/1/2032		1,000,000		772,280
Peruvian Government International Bonds	2.78%	12/1/2060		465,000		285,538
Peruvian Government International Bonds	3.00%	1/15/2034		1,900,000		1,583,175
Total Peru						2,640,993
Philippines 2.93%
Philippines Government International Bonds	2.65%	12/10/2045		2,800,000		1,890,565
Philippines Government International Bonds	3.229%	3/29/2027		1,700,000		1,611,090
Total Philippines						3,501,655
Poland 0.63%
Bank Gospodarstwa Krajowego†	5.375%	5/22/2033		350,000		348,591
Republic of Poland Government International Bonds	5.50%	4/4/2053		400,000		403,581
Total Poland						752,172
Qatar 1.84%
Qatar Government International Bonds†	4.00%	3/14/2029		900,000		881,350
Qatar Government International Bonds	4.40%	4/16/2050		500,000		455,900
Qatar Government International Bonds†	4.40%	4/16/2050		950,000		866,209
Total Qatar						2,203,459
Romania 1.34%
Romania Government International Bonds†(d)	2.625%	12/2/2040	EUR	1,000,000		666,389
Romania Government International Bonds	6.00%	5/25/2034	$	324,000		322,074
Romania Government International Bonds†	6.625%	2/17/2028		600,000		618,174
Total Romania						1,606,637

See Notes to Financial Statements. 17

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Saudi Arabia 4.23%
KSA Sukuk Ltd.†	2.25%	5/17/2031	$	1,000,000	$	843,185
KSA Sukuk Ltd.†	4.274%	5/22/2029		700,000		681,625
KSA Sukuk Ltd.†	5.268%	10/25/2028		1,600,000		1,635,712
Saudi Government International Bonds†	3.45%	2/2/2061		2,700,000		1,903,886
Total Saudi Arabia						5,064,408
Senegal 0.66%
Senegal Government International Bonds†(d)	5.375%	6/8/2037	EUR	220,000		161,023
Senegal Government International Bonds†	6.25%	5/23/2033	$	750,000		629,765
Total Senegal						790,788
South Africa 2.11%
Republic of South Africa Government International Bonds	4.30%	10/12/2028		1,440,000		1,275,480
Republic of South Africa Government International Bonds	5.75%	9/30/2049		1,760,000		1,250,216
Total South Africa						2,525,696
South Korea 1.02%
Export-Import Bank of Korea†(d)	3.50%	6/7/2026	EUR	500,000		541,612
Korea National Oil Corp.†	4.75%	4/3/2026	$	700,000		686,841
Total South Korea						1,228,453
Sri Lanka 1.25%
Sri Lanka Government International Bonds†	5.75%	4/18/2023		631,000		287,835
Sri Lanka Government International Bonds†(e)	5.875%	7/25/2022		920,000		427,929
Sri Lanka Government International Bonds†	6.75%	4/18/2028		1,130,000		520,377
Sri Lanka Government International Bonds†	7.55%	3/28/2030		550,000		253,219
Total Sri Lanka						1,489,360
Tunisia 0.11%
Tunisian Republic	5.75%	1/30/2025		200,000		133,810
Turkey 4.19%
Turkey Government International Bonds	4.25%	4/14/2026		2,100,000		1,881,545
Turkey Government International Bonds	5.25%	3/13/2030		1,445,000		1,189,185
Turkey Government International Bonds	5.75%	5/11/2047		1,450,000		994,468
Turkey Government International Bonds	5.95%	1/15/2031		500,000		423,035
Turkiye Ihracat Kredi Bankasi AS†	5.75%	7/6/2026		580,000		525,400
Total Turkey						5,013,633

18 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
United Arab Emirates 1.24%
Abu Dhabi Government International Bonds†	1.70%	3/2/2031	$	300,000	$	249,970
Abu Dhabi Government International Bonds†	3.125%	9/30/2049		1,000,000		734,484
UAE International Government Bonds†	3.25%	10/19/2061		700,000		503,880
Total United Arab Emirates						1,488,334
Uruguay 0.53%
Uruguay Government International Bonds	4.975%	4/20/2055		226,000		220,477
Uruguay Government International Bonds	5.75%	10/28/2034		385,000		416,625
Total Uruguay						637,102
Zambia 0.22%
Zambia Government International Bonds	8.50%	4/14/2024		450,000		262,607
Total Foreign Government Obligations (cost $98,697,858)						81,054,358
Total Long-Term Investments (cost $138,396,402)						116,238,993
SHORT-TERM INVESTMENTS 2.60%
REPURCHASE AGREEMENTS 2.60%
Repurchase Agreement dated 6/30/2023, 2.600% due 7/3/2023 with Fixed Income Clearing Corp. collateralized by $3,480,700 of U.S. Treasury Note at 2.375% due 05/15/2029; value: $3,180,762; proceeds: $3,119,018 (cost $3,118,343)				3,118,343		3,118,343
Total Investments in Securities 99.76% (cost $141,514,745)						119,357,336
Other Assets and Liabilities – Net(f) 0.24						282,222
Net Assets 100.00%					$	119,639,558

EUR	Euro.
CMT	Constant Maturity Rate.
†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2023, the total value of Rule 144A securities was $67,589,459, which represents 56.49% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at June 30, 2023.
(a)	Securities purchased on a when-issued basis (See Note 2(l)).
(b)	Security is perpetual in nature and has no stated maturity.
(c)	Step Bond – Security with a predetermined schedule of interest rate changes.
(d)	Investment in non-U.S. dollar denominated securities.
(e)	Defaulted (non-income producing security).
(f)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts and futures contracts as follows:

See Notes to Financial Statements. 19

Schedule of Investments (unaudited)(concluded)

EMERGING MARKETS BOND FUND June 30, 2023

Forward Foreign Currency Exchange Contracts at June 30, 2023:

Forward Foreign Currency Exchange Contracts

Transaction Type

Counterparty

Expiration Date

Foreign Currency

U.S. $ Cost on Origination Date

U.S. $ Current Value

Unrealized Depreciation

Euro

Sell

Morgan Stanley

9/13/2023

1,616,000

$

1,745,636

$

1,769,495

$

(23,859)

Futures Contracts at June 30, 2023:

Type	Expiration	Contracts	Position	Notional  Amount			Notional  Value			Unrealized  Appreciation
Euro-Bund	September 2023	8	Short	EUR	(1,081,917	)	EUR	(1,069,920	)		$	13,091
U.S. 10-Year Ultra Treasury Bond	September 2023	87	Short	$	(10,421,576	)	$	(10,304,062	)			117,514
U.S. 5-Year Treasury Note	September 2023	48	Short		(5,238,925	)		(5,140,500	)			98,425
Total Unrealized Appreciation on Futures Contracts											$	229,030
Type	Expiration	Contracts	Position	Notional  Amount			Notional  Value			Unrealized  Depreciation
Euro-Buxl	September 2023	2	Short	EUR	(273,917	)	EUR	(279,200	)		$	(5,765	)
U.S. 10-Year Treasury Note	September 2023	15	Long	$	1,712,114		$	1,683,984				(28,130	)
U.S. 2-Year Treasury Note	September 2023	29	Long		5,966,831			5,896,969				(69,862	)
U.S. Long Bond	September 2023	63	Long		8,019,413			7,995,094				(24,319	)
U.S. Ultra Bond	September 2023	31	Short		(4,195,473	)		(4,222,781	)			(27,308	)
Total Unrealized Depreciation on Futures Contracts											$	(155,384	)

The following is a summary of the inputs used as of June 30, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1			Level 2			Level 3		Total
Long-Term Investments
Corporate Bonds	$	–		$	35,184,635		$	–	$	35,184,635
Foreign Government Obligations		–			81,054,358			–		81,054,358
Short-Term Investments
Repurchase Agreements		–			3,118,343			–		3,118,343
Total	$	–		$	119,357,336		$	–	$	119,357,336
Other Financial Instruments
Forward Foreign Currency Exchange Contracts
Assets	$	–		$	–		$	–	$	–
Liabilities		–			(23,859	)		–		(23,859	)
Futures Contracts
Assets		229,030			–			–		229,030
Liabilities		(155,384	)		–			–		(155,384	)
Total	$	73,646		$	(23,859	)	$	–	$	49,787

(1)	Refer to Note 2(s) for a description of fair value measurements and the three-tier hierarchy of inputs.
(2)	See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

20 See Notes to Financial Statements.

Schedule of Investments (unaudited)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments			Shares		Fair Value
LONG-TERM INVESTMENTS 98.09%
COMMON STOCKS 0.32%
China 0.08%
Broadline Retail
Alibaba Group Holding Ltd. ADR*				331	$	27,589
United States 0.24%
Chemicals 0.14%
Mosaic Co.				1,291		45,185
Food Products 0.10%
Archer-Daniels-Midland Co.				412		31,130
Total United States						76,315
Total Common Stocks (cost $145,497)						103,904
	Interest Rate	Maturity Date	Principal Amount
CONVERTIBLE BONDS 0.80%
China 0.15%
Internet
PDD Holdings, Inc.	Zero Coupon	12/1/2025	$	49,000		47,699
Macau 0.65%
Lodging
Wynn Macau Ltd.†	4.50%	3/7/2029		200,000		209,812
Total Convertible Bonds (cost $246,240)						257,511
CORPORATE BONDS 94.14%
Argentina 1.70%
Energy-Alternate Sources 0.76%
YPF Energia Electrica SA†	10.00%	7/25/2026		262,000		243,903
Oil & Gas 0.94%
YPF SA†	6.95%	7/21/2027		370,000		304,105
Total Argentina						548,008
Brazil 4.68%
Airlines 0.49%
Azul Investments LLP	7.25%	6/15/2026		200,000		159,117
Cosmetics/Personal Care 0.54%
Natura Cosmeticos SA	4.125%	5/3/2028		200,000		173,165

See Notes to Financial Statements. 21

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Interest  Rate	Maturity  Date	Principal  Amount		Fair  Value
Brazil (continued)
Engineering & Construction 0.56%
Sitios Latinoamerica SAB de CV†	5.375%	4/4/2032	$	200,000	$	181,317
Forest Products & Paper 0.55%
Suzano Austria GmbH	3.125%	1/15/2032		219,000		175,457
Iron-Steel 1.05%
CSN Inova Ventures†	6.75%	1/28/2028		200,000		185,736
CSN Resources SA†	4.625%	6/10/2031		200,000		152,870
						338,606
Oil & Gas 1.49%
MC Brazil Downstream Trading Sarl†	7.25%	6/30/2031		396,575		268,240
Petrobras Global Finance BV(a)	6.50%	7/3/2033		218,000		213,640
						481,880
Total Brazil						1,509,542
Chile 3.79%
Banks 0.57%
Banco de Credito e Inversiones SA†	3.50%	10/12/2027		200,000		184,784
Electric 1.16%
Alfa Desarrollo SpA†	4.55%	9/27/2051		248,768		182,770
Colbun SA	3.95%	10/11/2027		200,000		189,587
						372,357
Engineering & Construction 0.53%
ATP Tower Holdings LLC/Andean Tower Partners Colombia SAS/Andean Telecom Partners	4.05%	4/27/2026		200,000		172,187
Mining 1.07%
Antofagasta PLC†	2.375%	10/14/2030		200,000		163,165
Corp. Nacional del Cobre de Chile	3.75%	1/15/2031		200,000		181,852
						345,017
Pipelines 0.46%
GNL Quintero SA†	4.634%	7/31/2029		152,960		148,870
Total Chile						1,223,215
China 7.61%
Building Materials 0.48%
West China Cement Ltd.	4.95%	7/8/2026		200,000		153,489
Diversified Financial Services 0.91%
BOC Aviation USA Corp.†	4.875%	5/3/2033		300,000		292,186

22 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Interest  Rate		Maturity  Date	Principal  Amount		Fair  Value
China (continued)
Gas 0.57%
ENN Clean Energy International Investment Ltd.†	3.375%		5/12/2026	$	200,000	$	185,303
Internet 3.17%
Meituan	3.05%		10/28/2030		300,000		237,846
Prosus NV	3.061%		7/13/2031		200,000		156,400
Prosus NV†	3.257%		1/19/2027		200,000		180,855
Prosus NV†	3.832%		2/8/2051		200,000		122,996
Tencent Holdings Ltd.	3.925%		1/19/2038		200,000		165,040
Weibo Corp.	3.375%		7/8/2030		200,000		159,428
							1,022,565
Investment Companies 1.04%
Huarong Finance 2019 Co. Ltd.	3.375%		2/24/2030		200,000		151,680
Huarong Finance II Co. Ltd.	5.00%		11/19/2025		200,000		184,692
							336,372
Real Estate 0.97%
Country Garden Holdings Co. Ltd.	3.30%		1/12/2031		500,000		137,221
Country Garden Holdings Co. Ltd.	3.875%		10/22/2030		200,000		57,191
Kaisa Group Holdings Ltd.†	11.95%		10/22/2022		400,000		26,663
Ronshine China Holdings Ltd.(b)	8.10%		6/9/2023		200,000		9,873
Shimao Group Holdings Ltd.	3.45%		1/11/2031		200,000		15,297
Sunac China Holdings Ltd.	7.50%		2/1/2024		450,000		67,549
							313,794
Telecommunications 0.47%
Xiaomi Best Time International Ltd.	2.875%		7/14/2031		200,000		151,261
Total China							2,454,970
Colombia 4.06%
Banks 0.53%
Bancolombia SA	4.625% (5 yr. CMT + 2.94%	)#	12/18/2029		200,000		170,408
Oil & Gas 2.32%
Ecopetrol SA	5.875%		11/2/2051		302,000		200,142
Ecopetrol SA(a)	8.625%		1/19/2029		400,000		401,420
SierraCol Energy Andina LLC†	6.00%		6/15/2028		200,000		147,255
							748,817

See Notes to Financial Statements. 23

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Interest  Rate	Maturity  Date	Principal  Amount		Fair  Value
Colombia (continued)
Pipelines 1.21%
AI Candelaria Spain SA†	5.75%	6/15/2033	$	250,000	$	185,521
AI Candelaria Spain SA	7.50%	12/15/2028		220,833		206,979
						392,500
Total Colombia						1,311,725
Dominican Republic 1.13%
Energy-Alternate Sources
Empresa Generadora de Electricidad Haina SA†	5.625%	11/8/2028		408,000		364,475
Ghana 0.53%
Oil & Gas
Kosmos Energy Ltd.†	7.75%	5/1/2027		200,000		171,821
India 4.50%
Commercial Services 0.65%
Adani Ports & Special Economic Zone Ltd.†	3.10%	2/2/2031		300,000		210,186
Electric 0.81%
Adani Transmission Step-One Ltd.†	4.00%	8/3/2026		300,000		262,545
Energy-Alternate Sources 0.52%
Greenko Dutch BV†	3.85%	3/29/2026		188,000		169,227
Iron-Steel 0.50%
JSW Steel Ltd.	5.05%	4/5/2032		200,000		161,855
Mining 0.47%
Vedanta Resources Finance II PLC	8.95%	3/11/2025		200,000		151,206
Oil & Gas 0.78%
Reliance Industries Ltd.†	2.875%	1/12/2032		300,000		250,374
Transportation 0.77%
Indian Railway Finance Corp. Ltd.	2.80%	2/10/2031		300,000		248,024
Total India						1,453,417
Indonesia 5.86%
Coal 0.77%
Indika Energy Capital IV Pte. Ltd.	8.25%	10/22/2025		250,000		248,937
Electric 2.26%
Cikarang Listrindo Tbk PT†	4.95%	9/14/2026		200,000		190,866
Minejesa Capital BV†	4.625%	8/10/2030		600,000		540,125
						730,991

24 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Interest  Rate		Maturity  Date		Principal  Amount		Fair  Value
Indonesia (continued)
Mining 2.25%
Bukit Makmur Mandiri Utama PT†	7.75%		2/10/2026		$	400,000	$	342,000
Freeport Indonesia PT	5.315%		4/14/2032			200,000		189,618
Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT	5.45%		5/15/2030			200,000		194,093
								725,711
Oil & Gas 0.58%
Medco Bell Pte. Ltd.	6.375%		1/30/2027			200,000		187,407
Total Indonesia								1,893,046
Israel 3.35%
Banks 1.09%
Bank Hapoalim BM†	3.255% (5 yr. CMT + 2.16%	)#	1/21/2032			200,000		171,946
Bank Leumi Le-Israel BM†	3.275% (5 yr. CMT + 1.63%	)#	1/29/2031			200,000		179,228
								351,174
Pharmaceuticals 2.26%
Teva Pharmaceutical Finance Netherlands III BV	3.15%		10/1/2026			600,000		538,384
Teva Pharmaceutical Finance Netherlands III BV	4.10%		10/1/2046			292,000		192,356
								730,740
Total Israel								1,081,914
Kazakhstan 0.71%
Oil & Gas
Tengizchevroil Finance Co. International Ltd.†	3.25%		8/15/2030			300,000		229,755
Kuwait 1.41%
Banks
NBK SPC Ltd.†	1.625% (SOFR + 1.05%	)#	9/15/2027			200,000		178,602
NBK Tier 1 Financing 2 Ltd.†	4.50% (6 yr. CMT + 2.83%	)#	–	(c)		300,000		276,252
Total Kuwait								454,854
Macau 3.91%
Lodging
MGM China Holdings Ltd.	4.75%		2/1/2027			200,000		182,213
Sands China Ltd.	5.625%		8/8/2025			200,000		195,248
Sands China Ltd.	5.90%		8/8/2028			400,000		381,660
Studio City Finance Ltd.	5.00%		1/15/2029			200,000		148,402

See Notes to Financial Statements. 25

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Interest  Rate		Maturity  Date		Principal  Amount		Fair  Value
Macau (continued)
Studio City Finance Ltd.	6.00%		7/15/2025		$	200,000	$	185,897
Wynn Macau Ltd.	5.125%		12/15/2029			200,000		168,256
Total Macau								1,261,676
Malaysia 1.68%
Oil & Gas 0.52%
Petronas Capital Ltd.	2.48%		1/28/2032			200,000		167,198
Transportation 1.16%
Misc Capital Two Labuan Ltd.	3.75%		4/6/2027			400,000		374,591
Total Malaysia								541,789
Mexico 4.31%
Banks 0.60%
Banco Mercantil del Norte SA	6.75% (5 yr. CMT + 4.97%	)#	–	(c)		200,000		192,325
Electric 1.26%
Comision Federal de Electricidad†	4.688%		5/15/2029			450,000		405,508
Mining 0.79%
Industrias Penoles SAB de CV†	4.75%		8/6/2050			200,000		159,430
Southern Copper Corp.	5.25%		11/8/2042			100,000		95,744
								255,174
Oil & Gas 0.65%
Petroleos Mexicanos	6.49%		1/23/2027			238,000		211,678
REITS 1.01%
CIBANCO SA Institucion de Banca Multiple Trust CIB/3332†	4.375%		7/22/2031			200,000		149,894
Trust Fibra Uno†	4.869%		1/15/2030			200,000		176,892
								326,786
Total Mexico								1,391,471
Morocco 1.28%
Chemicals
OCP SA†	3.75%		6/23/2031			500,000		414,765
Nigeria 0.73%
Banks
BOI Finance BV†(d)	7.50%		2/16/2027		EUR	250,000		235,619

26 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Interest  Rate		Maturity  Date		Principal  Amount		Fair  Value
Oman 0.88%
Oil & Gas
OQ SAOC†	5.125%		5/6/2028		$	300,000	$	284,958
Panama 1.01%
Engineering & Construction 0.48%
Aeropuerto Internacional de Tocumen SA†	5.125%		8/11/2061			200,000		154,392
Media 0.53%
Telecomunicaciones Digitales SA†	4.50%		1/30/2030			200,000		170,263
Total Panama								324,655
Paraguay 1.13%
Banks 0.56%
Banco Continental SAECA†	2.75%		12/10/2025			200,000		180,933
Telecommunications 0.57%
Telefonica Celular del Paraguay SA	5.875%		4/15/2027			200,000		183,727
Total Paraguay								364,660
Peru 1.68%
Banks 0.55%
Banco de Credito del Peru SA†	3.25% (5 yr. CMT + 2.45%	)#	9/30/2031			200,000		176,272
Pipelines 0.60%
Transportadora de Gas del Peru SA	4.25%		4/30/2028			200,000		192,907
Retail 0.53%
InRetail Consumer†	3.25%		3/22/2028			200,000		171,944
Total Peru								541,123
Philippines 0.56%
Holding Companies-Diversified
San Miguel Corp.	5.50% (5 yr. CMT + 10.24%	)#	–	(c)		200,000		180,500
Qatar 3.91%
Banks 0.86%
QNB Finance Ltd.	2.75%		2/12/2027			300,000		277,401
Gas 0.41%
Nakilat, Inc.†	6.267%		12/31/2033			124,509		132,326
Oil & Gas 1.04%
QatarEnergy†	2.25%		7/12/2031			400,000		335,982

See Notes to Financial Statements. 27

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Interest  Rate		Maturity  Date		Principal  Amount		Fair  Value
Qatar (continued)
Telecommunications 1.60%
Ooredoo International Finance Ltd.†	2.625%		4/8/2031		$	600,000	$	518,099
Total Qatar								1,263,808
Russia 0.00%
Banks
Alfa Bank AO Via Alfa Bond Issuance PLC	5.50% (5 yr. CMT + 4.55%	)	10/26/2031			300,000		–	(e)
Sberbank of Russia Via SB Capital SA	5.25%		5/23/2023			450,000		–	(e)
Total Russia								–
Saudi Arabia 4.45%
Electric 0.60%
Acwa Power Management & Investments One Ltd.†	5.95%		12/15/2039			199,542		194,707
Oil & Gas 2.15%
Saudi Arabian Oil Co.	2.25%		11/24/2030			500,000		416,765
Saudi Arabian Oil Co.†	3.25%		11/24/2050			400,000		278,340
								695,105
Pipelines 1.70%
EIG Pearl Holdings Sarl†	3.545%		8/31/2036			400,000		341,994
TMS Issuer Sarl†	5.78%		8/23/2032			200,000		206,331
								548,325
Total Saudi Arabia								1,438,137
Singapore 1.71%
Banks
DBS Group Holdings Ltd.	1.822% (5 yr. CMT + 1.10%	)#	3/10/2031			200,000		179,002
United Overseas Bank Ltd.†	2.00% (5 yr. CMT + 1.23%	)#	10/14/2031			200,000		175,809
United Overseas Bank Ltd.	3.875% (5 yr. USD Swap + 1.79%	)#	–	(c)		200,000		197,697
Total Singapore								552,508
South Africa 2.34%
Chemicals 0.49%
Sasol Financing USA LLC	5.50%		3/18/2031			200,000		157,676
Electric 1.22%
Eskom Holdings SOC Ltd.†	7.125%		2/11/2025			400,000		394,026

28 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Interest  Rate		Maturity  Date	Principal  Amount		Fair  Value
South Africa (continued)
Mining 0.63%
Gold Fields Orogen Holdings BVI Ltd.	6.125%		5/15/2029	$	200,000	$	202,419
Total South Africa							754,121
South Korea 2.81%
Electric 0.81%
Korea Midland Power Co. Ltd.	1.25%		8/9/2026		300,000		261,411
Energy-Alternate Sources 0.90%
Hanwha Energy USA Holdings Corp.†	4.125%		7/5/2025		300,000		290,675
Iron-Steel 0.62%
POSCO†	5.625%		1/17/2026		200,000		199,187
Semiconductors 0.48%
SK Hynix, Inc.	2.375%		1/19/2031		200,000		154,385
Total South Korea							905,658
Supranational 0.98%
Multi-National
African Export-Import Bank†	2.634%		5/17/2026		350,000		316,186
Taiwan 2.33%
Semiconductors
TSMC Arizona Corp.	4.125%		4/22/2029		250,000		239,008
TSMC Global Ltd.†	1.75%		4/23/2028		200,000		172,296
TSMC Global Ltd.†	4.375%		7/22/2027		350,000		341,897
Total Taiwan							753,201
Thailand 3.74%
Banks 1.81%
Bangkok Bank PCL†	3.466% (5 yr. CMT + 2.15%	)#	9/23/2036		300,000		244,779
Bangkok Bank PCL	3.733% (5 yr. CMT + 1.90%	)#	9/25/2034		400,000		339,560
							584,339
Chemicals 1.03%
GC Treasury Center Co. Ltd.†	2.98%		3/18/2031		400,000		330,774
Oil & Gas 0.90%
Thaioil Treasury Center Co. Ltd.†	2.50%		6/18/2030		200,000		163,542
Thaioil Treasury Center Co. Ltd.†	3.50%		10/17/2049		200,000		127,691
							291,233
Total Thailand							1,206,346

See Notes to Financial Statements. 29

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Interest  Rate		Maturity  Date		Principal  Amount		Fair  Value
Turkey 4.27%
Banks 1.90%
Akbank TAS†	5.125%		3/31/2025		$	650,000	$	614,755
Commercial Services 0.55%
Limak Iskenderun Uluslararasi Liman Isletmeciligi AS†	9.50%		7/10/2036			199,830		175,866
Holding Companies-Diversified 1.23%
KOC Holding AS	6.50%		3/11/2025			400,000		395,920
Oil & Gas 0.59%
Turkiye Petrol Rafinerileri AS	4.50%		10/18/2024			200,000		191,512
Total Turkey								1,378,053
Ukraine 0.47%
Telecommunications
VF Ukraine PAT via VFU Funding PLC	6.20%		2/11/2025			200,000		151,000
United Arab Emirates 5.62%
Banks 1.48%
Fab Sukuk Co. Ltd.	2.50%		1/21/2025			300,000		287,384
First Abu Dhabi Bank PJSC	4.50% (5 yr. CMT + 4.14%	)#	–	(c)		200,000		188,213
								475,597
Commercial Services 0.67%
DP World Ltd.†	6.85%		7/2/2037			200,000		217,100
Electric 1.17%
Abu Dhabi National Energy Co. PJSC†	2.00%		4/29/2028			200,000		178,139
Abu Dhabi National Energy Co. PJSC†	4.696%		4/24/2033			200,000		199,118
								377,257
Energy-Alternate Sources 0.49%
Sweihan PV Power Co. PJSC†	3.625%		1/31/2049			194,716		157,592
Equity Real Estate 0.61%
MAF Sukuk Ltd.	4.50%		11/3/2025			200,000		197,274
Pipelines 1.20%
Galaxy Pipeline Assets Bidco Ltd.†	3.25%		9/30/2040			500,000		388,352
Total United Arab Emirates								1,813,172

30 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Interest  Rate		Maturity  Date	Principal  Amount		Fair  Value
United Kingdom 2.82%
Banks 1.25%
Standard Chartered PLC†	6.301% (1 yr. CMT + 2.45%	)#	1/9/2029	$	400,000	$	402,538
Retail 1.57%
CK Hutchison International 21 Ltd.	2.50%		4/15/2031		600,000		508,669
Total United Kingdom							911,207
United States 0.64%
Auto Manufacturers 0.40%
Hyundai Capital America†	5.68%		6/26/2028		130,000		129,029
Chemicals 0.24%
CVR Partners LP/CVR Nitrogen Finance Corp.†	6.125%		6/15/2028		88,000		76,628
Total United States							205,657
Zambia 1.55%
Mining
First Quantum Minerals Ltd.	6.875%		3/1/2026		300,000		295,736
First Quantum Minerals Ltd.†	8.625%		6/1/2031		200,000		205,226
Total Zambia							500,962
Total Corporate Bonds (cost $34,289,144)							30,387,974
FOREIGN GOVERNMENT OBLIGATIONS 2.83%
South Korea
Korea National Oil Corp.†	4.75%		4/3/2026		600,000		588,721
Export-Import Bank of Korea†(d)	3.50%		6/7/2026	EUR	300,000		324,967
Total Foreign Government Obligation (cost $917,802)							913,688
Total Long-Term Investments (cost $35,598,683)						$	31,663,077

See Notes to Financial Statements. 31

Schedule of Investments (unaudited)(continued)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Investments	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 2.23%
REPURCHASE AGREEMENTS 2.23%
Repurchase Agreement dated 6/30/2023, 2.600% due 7/3/2023 with Fixed Income Clearing Corp. collateralized by $744,100 of U.S. Treasury Note at 3.750% due 5/31/2030; value: $735,226; proceeds: $720,903 (cost $720,747)	$	720,747	$	720,747
Total Investments in Securities 100.32% (cost $ 36,319,430)				32,383,824
Other Assets and Liabilities – Net(f) (0.32)				(103,695	)
Net Assets 100.00%			$	32,280,129

EUR	Euro.
ADR	American Depositary Receipt.
CMT	Constant Maturity Rate.
REITS	Real Estate Investment Trusts.
SOFR	Secured Overnight Financing Rate.

*	Non-income producing security.
†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2023, the total value of Rule 144A securities was $18,007,295, which represents 55.78% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at June 30, 2023.
(a)	Securities purchased on a when-issued basis (See Note 2(l)).
(b)	Defaulted (non-income producing security).
(c)	Security is perpetual in nature and has no stated maturity.
(d)	Investment in non-U.S. dollar denominated securities.
(e)	Level 3 Investment as described in Note 2(s) in the Notes to Financials. Security fair valued by the Pricing Committee.
(f)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts and futures contracts as follows:

Forward Foreign Currency Exchange Contracts at June 30, 2023:

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination Date	U.S. $ Current Value	Unrealized Appreciation
Euro	Buy	Morgan Stanley	9/13/2023	312,000	$341,409	$341,635	$226
Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination Date	U.S. $ Current Value	Unrealized Depreciation
Euro	Sell	Morgan Stanley	9/13/2023	829,000	$895,502	$907,742	$(12,240	)

32 See Notes to Financial Statements.

Schedule of Investments (unaudited)(concluded)

EMERGING MARKETS CORPORATE DEBT FUND June 30, 2023

Futures Contracts at June 30, 2023:

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
Euro-Bobl	September 2023	3	Short	EUR	(350,542)		EUR	(347,130)			$	3,723
U.S. 10-Year Ultra Treasury Bond	September 2023	21	Short	$	(2,512,735	)	$	(2,487,187	)			25,548
U.S. 5-Year Treasury Note	September 2023	29	Short		(3,162,243	)		(3,105,718	)			56,525
U.S. Ultra Treasury Bond	September 2023	4	Long		539,496			544,875				5,379
Total Unrealized Appreciation on Futures Contracts											$	91,175
Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Depreciation
U.S. 2-Year Treasury Note	September 2023	14	Long	$	2,875,001		$	2,846,812			$	(28,189	)
U.S. Long Bond	September 2023	4	Long		508,684			507,625				(1,059	)
Total Unrealized Depreciation on Futures Contracts											$	(29,248	)

The following is a summary of the inputs used as of June 30, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1			Level 2			Level 3			Total
Long-Term Investments
Common Stocks	$	103,904		$	–		$	–		$	103,904
Convertible Bonds		–			257,511			–			257,511
Corporate Bonds
Banks		–			4,853,507			–	(3)		4,853,507
Remaining Industries		–			25,534,467			–			25,534,467
Foreign Government Obligations		–			913,688			–			913,688
Short-Term Investments
Repurchase Agreements		–			720,747			–			720,747
Total	$	103,904		$	32,279,920		$	–		$	32,383,824
Other Financial Instruments
Forward Foreign Currency Exchange Contracts
Assets	$	–		$	226		$	–		$	226
Liabilities		–			(12,240	)		–			(12,240	)
Futures Contracts
Assets		91,175			–			–			91,175
Liabilities		(29,248	)		–			–			(29,248	)
Total	$	61,927		$	(12,014	)	$	–		$	49,913

(1)	Refer to Note 2(s) for a description of fair value measurements and the three-tier hierarchy of inputs.
(2)	See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.
(3)	Includes securities with zero market value.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.

See Notes to Financial Statements. 33

Schedule of Investments (unaudited)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 99.56%
ASSET-BACKED SECURITIES 8.55%
Cayman Islands 3.02%
Other
Arbor Realty Commercial Real Estate Notes Ltd. Series 2022-FL2 Class A†	6.997% (1 mo. USD Term SOFR + 1.85%	)#	5/15/2037	$	100,000	$	98,751
Venture 33 CLO Ltd. Series 2018-33A Class A1LR†	6.32% (3 mo. USD LIBOR + 1.06%	)#	7/15/2031		100,000		98,730
Verde CLO Ltd. Series 2019-1A Class AR†	6.36% (3 mo. USD LIBOR + 1.10%	)#	4/15/2032		100,000		98,818
							296,299
United States 5.53%
Automobiles 1.74%
Avid Automobile Receivables Trust Series 2019-1 Class C†	3.14%		7/15/2026		32,749		32,674
CarMax Auto Owner Trust Series 2023-1 Class D	6.27%		11/15/2029		50,000		49,124
GM Financial Automobile Leasing Trust Series 2023-2 Class B	5.54%		5/20/2027		50,000		49,485
Westlake Automobile Receivables Trust Series 2023-1A Class A3†	5.21%		1/18/2028		40,000		39,589
							170,872
Credit Card 1.64%
BA Credit Card Trust Series 2022-A2 Class A2	5.00%		4/15/2028		25,000		24,895
Discover Card Execution Note Trust Series 2022-A3 Class A3	3.56%		7/15/2027		50,000		48,335
Discover Card Execution Note Trust Series 2022-A4 Class A	5.03%		10/15/2027		50,000		49,782
Perimeter Master Note Business Trust Series 2019-2A Class A†	4.23%		5/15/2024		38,426		38,011
							161,023
Other 2.15%
Dell Equipment Finance Trust Series 2023-2 Class A2†	5.84%		1/22/2029		100,000		100,206
Mariner Finance Issuance Trust Series 2021-BA Class A†	2.10%		11/20/2036		100,000		86,922
ME Funding LLC Series 2019-1 Class A2†	6.448%		7/30/2049		24,125		23,550
							210,678
Total United States							542,573
Total Asset-Backed Securities (cost $848,849)							838,872

34 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
CORPORATE BONDS 50.62%
Australia 0.21%
Mining
FMG Resources August 2006 Pty. Ltd.†	4.375%	4/1/2031	$	12,000	$	10,263
FMG Resources August 2006 Pty. Ltd.†	4.50%	9/15/2027		11,000		10,254
Total Australia						20,517
Austria 1.13%
Holding Companies-Diversified
Benteler International AG†(a)	9.375%	5/15/2028	EUR	100,000		110,484
Bermuda 1.01%
Insurance
PartnerRe Ireland Finance DAC(a)	1.25%	9/15/2026	EUR	100,000		99,304
Brazil 0.05%
Forest Products & Paper
Suzano Austria GmbH	3.125%	1/15/2032	$	6,000		4,807
Canada 1.03%
Aerospace/Defense 0.11%
Bombardier, Inc.†	6.00%	2/15/2028		11,000		10,409
Banks 0.17%
Toronto-Dominion Bank	4.456%	6/8/2032		18,000		17,095
Distribution/Wholesale 0.16%
Ritchie Bros Holdings, Inc.†	7.75%	3/15/2031		15,000		15,580
Electric 0.14%
TransAlta Corp.	7.75%	11/15/2029		13,000		13,397
Insurance 0.12%
Jones Deslauriers Insurance Management, Inc.†	8.50%	3/15/2030		12,000		12,256
Oil & Gas 0.10%
Baytex Energy Corp.†	8.75%	4/1/2027		10,000		10,136
Oil & Gas Services 0.23%
Enerflex Ltd.†	9.00%	10/15/2027		23,000		22,400
Total Canada						101,273
Colombia 0.76%
Oil & Gas
Ecopetrol SA(b)	8.625%	1/19/2029		74,000		74,263

See Notes to Financial Statements. 35

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Denmark 0.92%
Banks
Danske Bank AS(a)	0.75% (1 yr. EURIBOR ICE Swap + 0.88%	)#	6/9/2029	EUR	100,000	$	90,221
France 2.12%
Environmental Control 0.99%
Paprec Holding SA(a)	3.50%		7/1/2028	EUR	100,000		97,010
Miscellaneous Manufacturing 0.10%
Calderys Financing LLC†	11.25%		6/1/2028	$	10,000		10,260
Water 1.03%
Suez SACA(a)	1.875%		5/24/2027	EUR	100,000		100,602
Total France							207,872
Ireland 0.65%
Diversified Financial Services
Avolon Holdings Funding Ltd.†	2.125%		2/21/2026	$	72,000		64,043
Mexico 0.48%
Oil & Gas
Petroleos Mexicanos	6.70%		2/16/2032		62,000		47,197
Portugal 0.93%
Electric
Ren Finance BV(a)	0.50%		4/16/2029	EUR	100,000		91,296
Slovenia 0.88%
Internet
United Group BV†(a)	5.25%		2/1/2030	EUR	100,000		86,610
Spain 1.02%
Telecommunications
Lorca Telecom Bondco SA†(a)	4.00%		9/18/2027	EUR	100,000		99,790
Supranational 0.77%
Multi-National
International Bank for Reconstruction & Development	5.38% (SOFR + 0.29%	)#	11/22/2028	$	40,000		39,749
International Finance Corp.(a)	0.375%		9/10/2025	NZD	65,000		35,737
Total Supranational							75,486

36 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Switzerland 0.90%
Retail
Richemont International Holding SA(a)	2.00%	3/26/2038	EUR	100,000	$	88,324
United Arab Emirates 1.37%
Pipelines
Galaxy Pipeline Assets Bidco Ltd.†	1.75%	9/30/2027	$	145,874		134,680
United Kingdom 6.72%
Aerospace/Defense 1.08%
Rolls-Royce plc(a)	0.875%	5/9/2024	EUR	100,000		105,814
Agriculture 0.70%
BAT Capital Corp.	3.222%	8/15/2024	$	71,000		68,926
Commercial Services 0.95%
BCP V Modular Services Finance II PLC(a)	4.75%	11/30/2028	EUR	100,000		93,284
Electric 0.31%
National Grid PLC	5.809%	6/12/2033	$	30,000		30,548
Engineering & Construction 1.29%
Heathrow Funding Ltd.(a)	6.75%	12/3/2026	GBP	100,000		126,834
Entertainment 1.20%
CPUK Finance Ltd.(a)	3.588%	2/28/2025	GBP	100,000		117,171
Retail 1.19%
Stonegate Pub Co. Financing 2019 PLC(a)	8.25%	7/31/2025	GBP	100,000		116,704
Total United Kingdom						659,281
United States 29.67%
Aerospace/Defense 0.23%
Spirit AeroSystems, Inc.†	9.375%	11/30/2029	$	9,000		9,646
TransDigm, Inc.	4.625%	1/15/2029		15,000		13,361
						23,007
Agriculture 0.49%
Cargill, Inc. †	4.00%	6/22/2032		27,000		24,988
Philip Morris International, Inc.	5.625%	11/17/2029		23,000		23,454
						48,442
Airlines 0.20%
American Airlines, Inc.†	7.25%	2/15/2028		10,000		9,951
American Airlines, Inc./AAdvantage Loyalty IP Ltd.†	5.75%	4/20/2029		10,000		9,719
						19,670

See Notes to Financial Statements. 37

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
United States (continued)
Auto Manufacturers 0.34%
Ford Motor Co.	3.25%		2/12/2032	$	42,000	$	33,079
Banks 5.49%
Bank of America Corp.	2.687% (SOFR + 1.32%	)#	4/22/2032		37,000		30,679
Bank of America Corp.	3.841% (SOFR + 1.11%	)#	4/25/2025		35,000		34,317
Bank of America Corp.	3.97% (3 mo. USD Term SOFR + 1.33%	)#	3/5/2029		25,000		23,427
Bank of New York Mellon Corp.	4.596% (SOFR + 1.76%	)#	7/26/2030		20,000		19,308
Citigroup, Inc.	2.561% (SOFR + 1.17%	)#	5/1/2032		70,000		57,187
Citigroup, Inc.	4.14% (SOFR + 1.37%	)#	5/24/2025		10,000		9,829
Goldman Sachs Group, Inc.	2.383% (SOFR + 1.25%	)#	7/21/2032		39,000		31,255
Goldman Sachs Group, Inc.	3.272% (3 mo. USD Term SOFR + 1.46%	)#	9/29/2025		36,000		34,798
JPMorgan Chase & Co.	2.58% (3 mo. USD Term SOFR + 1.25%	)#	4/22/2032		88,000		73,126
JPMorgan Chase & Co.	2.963% (SOFR + 1.26%	)#	1/25/2033		25,000		21,069
M&T Bank Corp.	5.053% (SOFR + 1.85%	)#	1/27/2034		14,000		12,795
Morgan Stanley	2.239% (SOFR + 1.18%	)#	7/21/2032		25,000		19,880
Morgan Stanley	2.484% (SOFR + 1.36%	)#	9/16/2036		44,000		33,403
Morgan Stanley	4.21% (SOFR + 1.61%	)#	4/20/2028		16,000		15,383
Morgan Stanley	4.431% (3 mo. USD Term SOFR + 1.89%	)#	1/23/2030		25,000		23,806
U.S. Bancorp	4.839% (SOFR + 1.60%	)#	2/1/2034		27,000		25,233
U.S. Bancorp	4.967% (SOFR + 2.11%	)#	7/22/2033		38,000		34,449
Wells Fargo & Co.	3.35% (SOFR + 1.50%	)#	3/2/2033		25,000		21,406
Wells Fargo & Co.	5.389% (SOFR + 2.02%	)#	4/24/2034		18,000		17,893
							539,243

38 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
United States (continued)
Beverages 1.08%
Molson Coors Beverage Co.(a)	1.25%		7/15/2024	EUR	100,000	$	105,662
Biotechnology 0.23%
Amgen, Inc.	5.25%		3/2/2030	$	23,000		23,064
Building Materials 0.32%
Eco Material Technologies, Inc.†	7.875%		1/31/2027		12,000		11,373
Griffon Corp.	5.75%		3/1/2028		10,000		9,363
Standard Industries, Inc.†	4.375%		7/15/2030		12,000		10,404
							31,140
Chemicals 0.62%
CVR Partners LP/CVR Nitrogen Finance Corp.†	6.125%		6/15/2028		11,000		9,579
International Flavors & Fragrances, Inc.†	1.23%		10/1/2025		47,000		41,922
Rain CII Carbon LLC/CII Carbon Corp.†	7.25%		4/1/2025		10,000		9,716
							61,217
Coal 0.10%
SunCoke Energy, Inc.†	4.875%		6/30/2029		12,000		10,092
Computers 1.20%
Booz Allen Hamilton, Inc.†	3.875%		9/1/2028		12,000		10,867
International Business Machines Corp.(a)	3.75%		2/6/2035	EUR	100,000		106,939
							117,806
Diversified Financial Services 0.80%
AG Issuer LLC†	6.25%		3/1/2028	$	14,000		13,351
Aircastle Ltd.†	2.85%		1/26/2028		20,000		17,030
American Express Co.	4.42% (SOFR + 1.76%	)#	8/3/2033		21,000		19,826
Aviation Capital Group LLC†	6.25%		4/15/2028		19,000		18,974
OneMain Finance Corp.	5.375%		11/15/2029		11,000		9,362
							78,543
Electric 1.96%
AEP Texas, Inc.	5.40%		6/1/2033		12,000		11,946
Calpine Corp.†	5.125%		3/15/2028		11,000		9,831
Constellation Energy Generation LLC	6.25%		10/1/2039		18,000		18,691
Duke Energy Corp.	4.50%		8/15/2032		35,000		33,010
Duke Energy Indiana LLC	5.40%		4/1/2053		12,000		12,115
IPALCO Enterprises, Inc.	4.25%		5/1/2030		25,000		22,645

See Notes to Financial Statements. 39

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
United States (continued)
Leeward Renewable Energy Operations LLC†	4.25%		7/1/2029	$	23,000	$	20,519
Oklahoma Gas & Electric Co.	5.40%		1/15/2033		13,000		13,220
Southern Co.	4.475%	(c)	8/1/2024		42,000		41,249
Vistra Operations Co. LLC†	4.375%		5/1/2029		10,000		8,768
							191,994
Electronics 1.09%
Honeywell International, Inc.(a)	3.50%		5/17/2027	EUR	100,000		107,353
Engineering & Construction 0.13%
Weekley Homes LLC/Weekley Finance Corp.†	4.875%		9/15/2028	$	14,000		12,620
Entertainment 0.20%
Jacobs Entertainment, Inc.†	6.75%		2/15/2029		11,000		9,855
Penn Entertainment, Inc.†	5.625%		1/15/2027		11,000		10,299
							20,154
Food 0.11%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC†	3.50%		3/15/2029		12,000		10,399
Gas 0.53%
CenterPoint Energy Resources Corp.	1.75%		10/1/2030		27,000		21,671
Southwest Gas Corp.	4.05%		3/15/2032		34,000		30,641
							52,312
Health Care-Products 0.11%
Medline Borrower LP†	3.875%		4/1/2029		12,000		10,440
Health Care-Services 2.23%
Catalent Pharma Solutions, Inc.†	5.00%		7/15/2027		11,000		10,106
Centene Corp.	3.375%		2/15/2030		65,000		55,922
Centene Corp.	4.25%		12/15/2027		15,000		14,039
Charles River Laboratories International, Inc.†	4.00%		3/15/2031		12,000		10,435
CHS/Community Health Systems, Inc.†	5.625%		3/15/2027		11,000		9,704
Elevance Health, Inc.	5.50%		10/15/2032		23,000		23,661
Humana, Inc.	5.875%		3/1/2033		30,000		31,192
ModivCare Escrow Issuer, Inc.†	5.00%		10/1/2029		8,000		5,928
Molina Healthcare, Inc.†	3.875%		11/15/2030		11,000		9,462
Tenet Healthcare Corp.†	6.75%		5/15/2031		10,000		10,037
UnitedHealth Group, Inc.	4.00%		5/15/2029		40,000		38,255
							218,741

40 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
United States (continued)
Insurance 0.30%
Assurant, Inc.	2.65%	1/15/2032	$	13,000	$	9,746
New York Life Global Funding†	4.55%	1/28/2033		20,000		19,283
						29,029
Internet 1.00%
Amazon.com, Inc.	4.70%	12/1/2032		64,000		64,556
EquipmentShare.com, Inc.†	9.00%	5/15/2028		11,000		10,692
Netflix, Inc.	5.875%	2/15/2025		10,000		10,049
Netflix, Inc.	5.875%	11/15/2028		12,000		12,424
						97,721
Iron-Steel 0.12%
U.S. Steel Corp.	6.65%	6/1/2037		12,000		11,478
Leisure Time 0.44%
Life Time, Inc.†	5.75%	1/15/2026		12,000		11,705
Lindblad Expeditions Holdings, Inc.†	9.00%	5/15/2028		10,000		10,156
NCL Corp. Ltd.†	5.875%	2/15/2027		11,000		10,718
Royal Caribbean Cruises Ltd.†	5.375%	7/15/2027		11,000		10,297
						42,876
Lodging 0.33%
Station Casinos LLC†	4.625%	12/1/2031		12,000		10,123
Wyndham Hotels & Resorts, Inc.†	4.375%	8/15/2028		12,000		10,969
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.†	5.25%	5/15/2027		12,000		11,381
						32,473
Machinery-Diversified 0.11%
Chart Industries, Inc.†	9.50%	1/1/2031		10,000		10,620
Media 0.72%
CCO Holdings LLC/CCO Holdings Capital Corp.†	4.75%	3/1/2030		22,000		18,832
DISH Network Corp.†	11.75%	11/15/2027		14,000		13,678
FactSet Research Systems, Inc.	3.45%	3/1/2032		45,000		38,332
						70,842
Metal Fabricate-Hardware 0.12%
Advanced Drainage Systems, Inc.†	6.375%	6/15/2030		12,000		11,885
Mining 0.10%
Hecla Mining Co.	7.25%	2/15/2028		10,000		9,920

See Notes to Financial Statements. 41

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
United States (continued)
Oil & Gas 2.86%
Callon Petroleum Co.†	8.00%		8/1/2028	$	11,000	$	10,889
Civitas Resources, Inc.†	8.375%		7/1/2028		12,000		12,151
Comstock Resources, Inc.†	6.75%		3/1/2029		12,000		10,992
Continental Resources, Inc.†	5.75%		1/15/2031		62,000		58,964
Crescent Energy Finance LLC†	9.25%		2/15/2028		10,000		9,713
Diamondback Energy, Inc.	3.125%		3/24/2031		52,000		44,567
Earthstone Energy Holdings LLC†	8.00%		4/15/2027		10,000		9,667
EQT Corp.	7.00%		2/1/2030		55,000		57,636
Hilcorp Energy I LP/Hilcorp Finance Co.†	6.00%		2/1/2031		11,000		9,846
Occidental Petroleum Corp.	6.125%		1/1/2031		16,000		16,263
Ovintiv, Inc.	6.50%		2/1/2038		21,000		20,616
Permian Resources Operating LLC†	5.375%		1/15/2026		10,000		9,537
Vital Energy, Inc.	9.50%		1/15/2025		10,000		9,936
							280,777
Packaging & Containers 1.54%
Crown European Holdings SA†(a)	5.00%		5/15/2028	EUR	100,000		110,348
Owens-Brockway Glass Container, Inc.†	6.625%		5/13/2027	$	10,000		9,914
Owens-Brockway Glass Container, Inc.†	7.25%		5/15/2031		11,000		11,151
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.†	4.375%		10/15/2028		23,000		19,942
							151,355
Pharmaceuticals 0.65%
BellRing Brands, Inc.†	7.00%		3/15/2030		10,000		10,074
Cigna Group	4.375%		10/15/2028		11,000		10,642
Pfizer Investment Enterprises Pte. Ltd.	4.75%		5/19/2033		43,000		42,855
							63,571
Pipelines 0.41%
Buckeye Partners LP	9.293% (3 mo. USD LIBOR + 4.02%	)#	1/22/2078		12,000		10,116
NGPL PipeCo LLC†	3.25%		7/15/2031		24,000		19,812
Venture Global LNG, Inc.†	8.375%		6/1/2031		10,000		10,095
							40,023
REITS 0.78%
American Tower Corp.	3.80%		8/15/2029		42,000		38,367
American Tower Corp.	5.55%		7/15/2033		12,000		12,093
Crown Castle, Inc.	3.30%		7/1/2030		29,000		25,653
							76,113

42 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
United States (continued)
Retail 0.30%
Evergreen Acqco 1 LP/TVI, Inc.†	9.75%		4/26/2028	$	10,000	$	10,350
Gap, Inc.†	3.875%		10/1/2031		13,000		8,916
Macy’s Retail Holdings LLC†	5.875%		4/1/2029		11,000		10,050
							29,316
Semiconductors 0.11%
Entegris, Inc.†	3.625%		5/1/2029		12,000		10,353
Software 1.16%
Cloud Software Group, Inc.†	6.50%		3/31/2029		11,000		9,805
Oracle Corp.	6.25%		11/9/2032		55,000		58,406
ROBLOX Corp.†	3.875%		5/1/2030		12,000		10,127
Workday, Inc.	3.80%		4/1/2032		40,000		36,026
							114,364
Telecommunications 0.91%
Frontier Communications Holdings LLC†	5.00%		5/1/2028		23,000		19,867
Lumen Technologies, Inc.†	4.00%		2/15/2027		13,000		9,703
Sprint Capital Corp.	6.875%		11/15/2028		15,000		15,913
T-Mobile USA, Inc.	3.875%		4/15/2030		48,000		44,249
							89,732
Transportation 0.10%
Rand Parent LLC†	8.50%		2/15/2030		11,000		9,969
Trucking & Leasing 0.15%
Fortress Transportation & Infrastructure Investors LLC†	5.50%		5/1/2028		16,000		14,658
Total United States							2,912,053
Total Corporate Bonds (cost $5,181,175)							4,967,501
FLOATING RATE LOANS(d) 0.22%
Aerospace 0.08%
Mileage Plus Holdings LLC 2020 Term Loan B	10.764% (3 mo. USD LIBOR + 5.25%	)	6/21/2027		8,000		8,325
Health Services 0.14%
Wellpath Holdings, Inc. 2018 1st Lien Term Loan	10.976%		10/1/2025		18,028		13,499
Service 0.00%
Element Materials Technology Group U.S. Holdings, Inc. 2022 USD Term Loan	9.485% (3 mo. USD Term SOFR + 4.25%	)	7/6/2029		15		14
Total Floating Rate Loans (cost $26,329)							21,838

See Notes to Financial Statements. 43

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
FOREIGN GOVERNMENT OBLIGATIONS 22.88%
Australia 0.37%
Queensland Treasury Corp.†(a)	1.50%	3/2/2032	AUD	70,000	$	36,627
Canada 0.40%
Province of Saskatchewan(a)	4.75%	6/1/2040	CAD	49,000		39,422
China 7.41%
China Development Bank(a)	2.73%	1/11/2028	CNY	1,400,000		194,223
China Development Bank(a)	3.07%	3/10/2030	CNY	650,000		91,069
China Development Bank(a)	3.09%	6/18/2030	CNY	1,300,000		182,345
China Development Bank(a)	3.48%	1/8/2029	CNY	1,000,000		142,928
China Development Bank(a)	3.68%	2/26/2026	CNY	600,000		85,210
China Government Bonds(a)	3.86%	7/22/2049	CNY	200,000		31,298
Total China						727,073
Colombia 0.57%
Colombian TES(a)	7.50%	8/26/2026	COP	250,000,000		56,291
Dominican Republic 1.43%
Dominican Republic International Bonds†	5.50%	2/22/2029	$	150,000		140,726
France 1.05%
Action Logement Services(a)	0.50%	10/30/2034	EUR	100,000		79,391
French Republic Government Bonds OAT(a)	0.75%	5/25/2052	EUR	40,000		23,781
Total France						103,172
Germany 0.23%
Bundesrepublik Deutschland Bundesanleihe(a)	Zero Coupon	8/15/2052	EUR	40,000		22,378
Indonesia 0.82%
Indonesia Government International Bonds(a)	1.30%	3/23/2034	EUR	100,000		80,601
Italy 2.12%
Italy Buoni Poliennali Del Tesoro†(a)	2.45%	9/1/2033	EUR	105,000		99,976
Italy Buoni Poliennali Del Tesoro(a)	3.40%	4/1/2028	EUR	100,000		107,616
Total Italy						207,592
Japan 4.35%
Japan Bank for International Cooperation(a)	1.50%	6/1/2029	EUR	100,000		98,136
Japan Government Ten Year Bonds(a)	0.10%	3/20/2028	JPY	18,000,000		125,029
Japan Government Ten Year Bonds(a)	0.10%	12/20/2031	JPY	14,000,000		95,394
Japan Government Thirty Year Bonds(a)	1.40%	9/20/2052	JPY	15,000,000		107,815
Total Japan						426,374

44 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Netherlands 1.10%
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV(a)	3.00%	10/25/2027	EUR	100,000	$	108,141
South Africa 0.16%
Republic of South Africa Government Bonds(a)	8.75%	2/28/2048	ZAR	396,000		15,274
South Korea 1.10%
Export-Import Bank of Korea†(a)	3.50%	6/7/2026	EUR	100,000		108,322
Spain 0.15%
Spain Government Bonds†(a)	1.00%	7/30/2042	EUR	21,000		14,434
Supranational 0.56%
European Bank for Reconstruction & Development(a)	Zero Coupon	1/10/2024	EUR	51,000		54,577
Turkey 0.55%
Turkey Government International Bonds	7.375%	2/5/2025	$	55,000		54,330
United Kingdom 0.51%
U.K. Gilts(a)	0.875%	7/31/2033	GBP	55,000		50,065
Total Foreign Government Obligations (cost $2,454,830)						2,245,399
GOVERNMENT SPONSORED ENTERPRISES
PASS-THROUGHS 9.32%
Federal Home Loan Mortgage Corp.	3.50%	2/1/2046	$	18,124		16,901
Federal National Mortgage Association	2.50%	9/1/2051		85,169		72,913
Federal National Mortgage Association	3.00%	10/1/2050		97,982		87,133
Federal National Mortgage Association	3.50%	4/1/2052		37,775		34,760
Federal National Mortgage Association	4.00%	5/1/2052		37,950		36,054
Government National Mortgage Association(e)	3.00%	TBA		31,000		27,721
Government National Mortgage Association(e)	3.50%	TBA		15,000		13,862
Government National Mortgage Association(e)	4.00%	TBA		13,000		12,311
Government National Mortgage Association(e)	4.50%	TBA		4,000		3,863
Government National Mortgage Association(e)	5.00%	TBA		81,000		79,576
Government National Mortgage Association(e)	5.50%	TBA		82,000		81,584
Government National Mortgage Association(e)	6.00%	TBA		125,000		125,781
Uniform Mortgage-Backed Security(e)	4.00%	TBA		25,000		23,483
Uniform Mortgage-Backed Security(e)	4.50%	TBA		12,000		11,544
Uniform Mortgage-Backed Security(e)	5.00%	TBA		30,000		29,797
Uniform Mortgage-Backed Security(e)	5.50%	TBA		140,000		139,591
Uniform Mortgage-Backed Security(e)	6.00%	TBA		55,000		55,477
Uniform Mortgage-Backed Security(e)	6.50%	TBA		61,000		62,257
Total Government Sponsored Enterprises Pass-Throughs (cost $925,851)						914,608

See Notes to Financial Statements. 45

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
MUNICIPAL BONDS 0.64%
Government 0.23%
New York City Transitional Finance Authority Future Tax Secured Revenue NY	1.95%		8/1/2034	$	30,000	$	22,396
Tax Revenue 0.20%
Regional Transportation District Sales Tax Revenue CO	2.337%		11/1/2036		25,000		19,411
Transportation 0.21%
Metropolitan Transportation Authority NY	6.668%		11/15/2039		20,000		21,281
Total Municipal Bonds (cost $81,951)							63,088
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 2.07%
BBCMS Mortgage Trust Series 2019-BWAY Class A†	6.218% (1 mo. USD Term SOFR + 1.07%	)#	11/15/2034		11,000		9,064
BBCMS Mortgage Trust Series 2019-BWAY Class B†	6.572% (1 mo. USD Term SOFR + 1.42%	)#	11/15/2034		10,000		8,111
Commercial Mortgage Pass-Through Certificates Series 2015-PC1 Class C	4.433%	#(f)	7/10/2050		25,000		21,767
Federal Home Loan Mortgage Corp. STACR REMIC Trust Series 2021-DNA6 Class M2†	6.567% (30 day USD SOFR Average + 1.50%	)#	10/25/2041		30,000		29,272
Federal Home Loan Mortgage Corp. STACR REMIC Trust Series 2021-HQA4 Class M1†	6.017% (30 day USD SOFR Average + 0.95%	)#	12/25/2041		26,452		25,678
Federal Home Loan Mortgage Corp. STACR REMIC Trust Series 2022-HQA3 Class M1A†	7.367% (30 day USD SOFR Average + 2.30%	)#	8/25/2042		26,884		27,068
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R08 Class 1M1†	7.617% (30 day USD SOFR Average + 2.55%	)#	7/25/2042		32,081		32,556
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R01 Class 1M1†	7.467% (30 day USD SOFR Average + 2.40%	)#	12/25/2042		9,355		9,416
Residential Mortgage Loan Trust Series 2020-1 Class A1†	2.376%	#(f)	1/26/2060		14,427		13,662
Verus Securitization Trust Series 2020-5 Class A1†	1.218%	(c)	5/25/2065		29,172		26,359
Total Non-Agency Commercial Mortgage-Backed Securities (cost $212,663)							202,953

46 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
U.S. TREASURY OBLIGATIONS 5.26%
U.S. Treasury Bonds	1.625%	11/15/2050	$	70,000	$	43,510
U.S. Treasury Bonds	2.25%	5/15/2041		40,000		30,838
U.S. Treasury Bonds	3.625%	5/15/2053		191,000		183,599
U.S. Treasury Bonds	3.875%	5/15/2043		164,000		160,054
U.S. Treasury Inflation-Indexed Notes(g)	1.125%	1/15/2033		101,850		97,646
Total U.S. Treasury Obligations (cost $519,614)						515,647
Total Long-Term Investments (cost $10,251,262)						9,769,906
SHORT-TERM INVESTMENTS 6.01%
U.S. TREASURY OBLIGATIONS 3.77%
U.S. Treasury Bills	Zero Coupon	9/14/2023		125,000		123,693
U.S. Treasury Bills	Zero Coupon	10/24/2023		250,000		245,916
Total U.S. Treasury Obligations (cost $369,536)						369,609
REPURCHASE AGREEMENTS 2.24%
Repurchase Agreement dated 6/30/2023, 2.600% due 7/3/2023 with Fixed Income Clearing Corp. collateralized by $245,400 of U.S. Treasury Note at 2.375% due 5/15/2029; value: $224,253; proceeds: $219,842 (cost $219,795)				219,795		219,795
Total Short-Term Investments (cost $589,331)						589,404
Total Investments in Securities 105.57% (cost $10,840,593)						10,359,310
Other Assets and Liabilities – Net(h) (5.57)						(546,387	)
Net Assets 100.00%					$	9,812,923

AUD	Australian Dollar.
CAD	Canadian Dollar.
CNY	Chinese Yuan Renminbi.
COP	Colombian Peso.
EUR	Euro.
GBP	British Pound.
JPY	Japanese Yen.
NZD	New Zealand Dollar.
ZAR	South African Rand.
EURIBOR	Euro Interbank Offered Rate.
ICE	Intercontinental Exchange.
LIBOR	London Interbank Offered Rate.
REITS	Real Estate Investment Trusts.
REMIC	Real Estate Investment Conduit.
SOFR	Secured Overnight Financing Rate.
STACR	Structured Agency Credit Risk.

^† Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2023, the total value of Rule 144A securities was $2,748,934, which represents 28.01% of net assets.

See Notes to Financial Statements. 47

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

#	Variable rate security. The interest rate represents the rate in effect at June 30, 2023.
(a)	Investment in non-U.S. dollar denominated securities.
(b)	Securities purchased on a when-issued basis (See Note 2(l)).
(c)	Step Bond – Security with a predetermined schedule of interest rate changes.
(d)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at June 30, 2023.
(e)	To-be-announced (“TBA”). Security purchased on a forward commitment basis with an approximate principal and maturity date. Actual principal and maturity will be determined upon settlement when the specific mortgage pools are assigned.
(f)	Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool.
(g)	Treasury Inflation Protected Security. A U.S. Treasury Note or Bond that offers protection from inflation by paying a fixed rate of interest on principal amount that is adjusted for inflation based on the Consumer Price Index.
(h)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts, futures contracts and swap contracts as follows:

Centrally Cleared Credit Default Swap Contracts on Indexes - Sell Protection at June 30, 2023⁽¹⁾:

Referenced Indexes	Central Clearing Party	Fund Receives (Quarterly)	Termination Date	Notional Amount		Payments Upfront(2)			Unrealized Appreciation(3)		Value
Markit CDX.EM.39(4)(5)	Goldman Sachs	1.00%	6/20/2028	$	200,000		$(11,384	)		$1,835		$(9,549	)
Markit CDX.NA.HY.40(4)(6)	Goldman Sachs	5.00%	6/20/2028		210,000		2,790			3,075		5,865
							$  (8,594	)		$4,910		$(3,684	)

(1)	If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap contracts and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities.
(2)	Upfront payments paid (received) by Central Clearing Party are presented net of amortization.
(3)	Total unrealized appreciation on Credit Default Swap Contracts on Indexes amounted to $4,910. Total unrealized depreciation on Credit Default Swap Contracts on Indexes amounted to $0.
(4)	Central Clearinghouse: Intercontinental Exchange (ICE).
(5)	The Referenced Index is for the Centrally Cleared Credit Default Swap Contracts on Indexes, which is comprised of a basket of emerging market securities.
(6)	The Referenced Index is for the Centrally Cleared Credit Default Swap Contracts on Indexes, which is comprised of a basket of high yield securities.

48 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

GLOBAL BOND FUND June 30, 2023

Forward Foreign Currency Exchange Contracts at June 30, 2023:

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency		U.S. $ Cost on Origination Date		U.S. $ Current Value		Unrealized Appreciation
Australian dollar	Buy	Morgan Stanley	8/28/2023		124,000	$	81,317	$	82,729		$	1,412
Brazilian real	Buy	Morgan Stanley	8/28/2023		384,000		76,288		79,423			3,135
British pound	Buy	Morgan Stanley	9/8/2023		44,000		55,374		55,894			520
Canadian dollar	Buy	State Street Bank and Trust	7/20/2023		301,000		223,956		227,262			3,306
Euro	Buy	Morgan Stanley	9/13/2023		117,000		127,613		128,113			500
Mexican peso	Buy	Morgan Stanley	9/18/2023		541,000		30,989		31,161			172
Chinese Yuan	Sell	Morgan Stanley	7/28/2023		1,362,000		192,174		187,682			4,492
Colombian peso	Sell	State Street Bank and Trust	9/28/2023		210,000,000		49,305		49,210			95
Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts											$	13,632
Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency		U.S. $ Cost on Origination Date		U.S. $ Current Value		Unrealized Depreciation
Australian dollar	Buy	Toronto Dominion Bank	8/28/2023		16,000	$	10,823	$	10,675		$	(148	)
British pound	Buy	Toronto Dominion Bank	9/8/2023		92,000		117,528		116,868			(660	)
Chinese Yuan	Buy	Toronto Dominion Bank	7/28/2023		2,548,000		372,553		351,112			(21,441	)
Euro	Buy	State Street Bank and Trust	9/13/2023		96,000		105,436		105,119			(317	)
Euro	Buy	State Street Bank and Trust	9/13/2023		40,000		44,132		43,799			(333	)
Indonesian rupiah	Buy	Goldman Sachs	8/11/2023		1,372,888,000		92,725		91,219			(1,506	)
Japanese yen	Buy	State Street Bank and Trust	8/15/2023		103,873,000		783,050		724,363			(58,687	)
Norwegian krone	Buy	State Street Bank and Trust	9/15/2023		74,000		6,973		6,912			(61	)
South Korean won	Buy	J.P. Morgan	9/14/2023		136,825,000		107,000		104,228			(2,772	)
Swedish krona	Buy	Morgan Stanley	8/7/2023		360,000		35,270		33,428			(1,842	)
Swiss franc	Buy	State Street Bank and Trust	8/23/2023		44,000		49,453		49,408			(45	)
British pound	Sell	State Street Bank and Trust	9/8/2023		258,000		321,073		327,739			(6,666	)
Euro	Sell	Morgan Stanley	9/13/2023		416,000		449,372		455,514			(6,142	)
Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts											$	(100,620	)

See Notes to Financial Statements. 49

Schedule of Investments (unaudited)(concluded)

GLOBAL BOND FUND June 30, 2023

Futures Contracts at June 30, 2023:

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
U.S. 10-Year Ultra Treasury Bond	September 2023	3	Short	$	(359,332	)	$	(355,313	)		$	4,019
U.S. 5-Year Treasury Note	September 2023	5	Short		(542,999	)		(535,469	)			7,530
U.S. Ultra Treasury Bond	September 2023	1	Long		134,874			136,219				1,345
Total Unrealized Appreciation on Futures Contracts											$	12,894
Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Depreciation
U.S. 2-Year Treasury Note	September 2023	4	Long	$	824,141		$	813,375			$	(10,766	)

The following is a summary of the inputs used as of June 30, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1			Level 2			Level 3		Total
Long-Term Investments
Asset-Backed Securities	$	–		$	838,872		$	–	$	838,872
Corporate Bonds		–			4,967,501			–		4,967,501
Floating Rate Loans		–			21,838			–		21,838
Foreign Government Obligations		–			2,245,399			–		2,245,399
Government Sponsored Enterprises Pass-Throughs		–			914,608			–		914,608
Municipal Bonds		–			63,088			–		63,088
Non-Agency Commercial Mortgage-Backed Securities		–			202,953			–		202,953
U.S. Treasury Obligations		–			515,647			–		515,647
Short-Term Investments
U.S. Treasury Obligations		–			369,609			–		369,609
Repurchase Agreements		–			219,795			–		219,795
Total	$	–		$	10,359,310		$	–	$	10,359,310
Other Financial Instruments
Centrally Cleared Credit Default Swap Contracts
Assets	$	–		$	5,865		$	–	$	5,865
Liabilities		–			(9,549	)		–		(9,549	)
Forward Foreign Currency Exchange Contracts
Assets		–			13,632			–		13,632
Liabilities		–			(100,620	)		–		(100,620	)
Futures Contracts
Assets		12,894			–			–		12,894
Liabilities		(10,766	)		–			–		(10,766	)
Total	$	2,128		$	(90,672	)	$	–	$	(88,544	)

(1)	Refer to Note 2(s) for a description of fair value measurements and the three-tier hierarchy of inputs.
(2)	See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

50 See Notes to Financial Statements.

Statements of Assets and Liabilities (unaudited)

June 30, 2023

	Emerging Markets Bond Fund				Emerging Markets Corporate Debt Fund
ASSETS:
Investments in securities, at cost		$	141,514,745			$	36,319,430
Investments in securities, at fair value		$	119,357,336			$	32,383,824
Cash			30				–
Deposits with brokers for futures collateral			409,421				86,830
Receivables:
Investment securities sold			2,219,057				1,161,394
Interest and dividends			1,878,672				534,897
Capital shares sold			1,603,216				3,564
From advisor (See Note 3)			45				22,116
Variation Margin for futures contracts			–				2,281
Unrealized appreciation on forward foreign currency exchange contracts			–				226
Prepaid expenses and other assets			57,989				63,003
Total assets			125,525,766				34,258,135
LIABILITIES:
Payables:
Investment securities purchased			5,535,246				616,001
Capital shares reacquired			81,253				91,305
Management fee			48,452				23,872
Directors’ fees			46,885				5,305
Variation margin for futures contracts			16,944				–
12b-1 distribution plan			9,072				3,634
Fund administration			3,876				1,364
To bank			–				814,495
Unrealized depreciation on forward foreign currency exchange contracts			23,859				12,240
Foreign currency overdraft (cost $8,196 and $340,807, respectively)			–				340,746
Distributions payable			20,548				5,395
Accrued expenses and other liabilities			100,073				63,649
Total liabilities			5,886,208				1,978,006
NET ASSETS		$	119,639,558			$	32,280,129
COMPOSITION OF NET ASSETS:
Paid-in capital		$	275,024,812			$	49,319,281
Total distributable earnings (loss)			(155,385,254	)			(17,039,152	)
Net Assets		$	119,639,558			$	32,280,129

See Notes to Financial Statements. 51

Statements of Assets and Liabilities (unaudited)(continued)

June 30, 2023

	Emerging Markets Bond Fund			Emerging Markets Corporate Debt Fund
Net Assets by class:
Class A Shares		$	9,634,181		$	6,315,542
Class C Shares		$	605,576		$	1,627,504
Class F Shares		$	526,745		$	2,403,641
Class F3 Shares		$	467,319		$	9,683
Class I Shares		$	107,822,144		$	21,512,229
Class R3 Shares		$	156,811		$	133,983
Class R4 Shares		$	39,191		$	11,011
Class R5 Shares		$	9,225		$	10,238
Class R6 Shares		$	378,366		$	256,298
Outstanding shares by class:
Class A Shares (534 and 513 million shares of common stock authorized, $.001 par value)			2,406,505			494,070
Class C Shares (100 and 85 million shares of common stock authorized, $.001 par value)			150,347			127,306
Class F Shares (200.25 and 114 million shares of common stock authorized, $.001 par value)			131,440			187,992
Class F3 Shares (66.75 and 57 million shares of common stock authorized, $.001 par value)			116,916			758
Class I Shares (300.37 and 228 million shares of common stock authorized, $.001 par value)			26,970,521			1,685,609
Class R3 Shares (26.72 and 28.6 million shares of common stock authorized, $.001 par value)			39,231			10,483
Class R4 Shares (26.72 and 28.6 million shares of common stock authorized, $.001 par value)			9,804			862
Class R5 Shares (26.72 and 28.6 million shares of common stock authorized, $.001 par value)			2,308			801
Class R6 Shares (26.72 and 28.6 million shares of common stock authorized, $.001 par value)			94,597			20,051
Net Asset Value, offering and redemption price per share (Net assets divided by outstanding shares):
Class A Shares-Net asset value			$4.00			$12.78
Class A Shares-Maximum offering price (Net asset value plus sales charge of 2.25%)			$4.09			$13.07
Class C Shares-Net asset value			$4.03			$12.78
Class F Shares-Net asset value			$4.01			$12.79
Class F3 Shares-Net asset value*			$4.00			$12.78
Class I Shares-Net asset value			$4.00			$12.76
Class R3 Shares-Net asset value			$4.00			$12.78
Class R4 Shares-Net asset value*			$4.00			$12.78
Class R5 Shares-Net asset value			$4.00			$12.78
Class R6 Shares-Net asset value			$4.00			$12.78

* Net asset value may not recalculate due to rounding of fractional shares.

52 See Notes to Financial Statements.

Statements of Assets and Liabilities (unaudited)(continued)

June 30, 2023

	Global Bond Fund
ASSETS:
Investments in securities, at cost		$	10,840,593
Investments in securities, at fair value		$	10,359,310
Cash			209
Deposits with brokers for futures collateral			12,275
Deposits with brokers for forwards and swaps collateral			39,879
Foreign cash, at value (cost $6,423)			6,458
Receivables:
Investment securities sold			1,166,586
Interest and dividends			97,893
Capital shares sold			744
From advisor (See Note 3)			18,841
Variation Margin for futures contracts			427
Variation Margin receivable for centrally cleared swap agreements			2,002
Unrealized appreciation on forward foreign currency exchange contracts			13,632
Prepaid expenses and other assets			85,469
Total assets			11,803,725
LIABILITIES:
Payables:
Investment securities purchased			1,787,841
Capital shares reacquired			70
Management fee			3,476
Directors’ fees			1,124
12b-1 distribution plan			942
Fund administration			323
Unrealized depreciation on forward foreign currency exchange contracts			100,620
Distributions payable			32,058
Accrued expenses and other liabilities			64,348
Total liabilities			1,990,802
NET ASSETS		$	9,812,923
COMPOSITION OF NET ASSETS:
Paid-in capital		$	12,036,355
Total distributable earnings (loss)			(2,223,432	)
Net Assets		$	9,812,923

See Notes to Financial Statements. 53

Statements of Assets and Liabilities (unaudited)(concluded)

June 30, 2023

	Global Bond Fund
Net Assets by class:
Class A Shares		$	2,423,890
Class C Shares		$	237,373
Class F Shares		$	1,875,997
Class F3 Shares		$	1,288,826
Class I Shares		$	1,750,383
Class R3 Shares		$	248,885
Class R4 Shares		$	213,440
Class R5 Shares		$	214,359
Class R6 Shares		$	1,559,770
Outstanding shares by class:
Class A Shares (770 million shares of common stock authorized, $.001 par value)			302,025
Class C Shares (100 million shares of common stock authorized, $.001 par value)			29,577
Class F Shares 192.5 million shares of common stock authorized, $.001 par value)			233,761
Class F3 Shares (192.5 million shares of common stock authorized, $.001 par value)			160,608
Class I Shares (385 million shares of common stock authorized, $.001 par value)			218,126
Class R3 Shares (28.87 million shares of common stock authorized, $.001 par value)			31,012
Class R4 Shares (28.87 million shares of common stock authorized, $.001 par value)			26,595
Class R5 Shares (28.87 million shares of common stock authorized, $.001 par value)			26,712
Class R6 Shares (178.37 million shares of common stock authorized, $.001 par value)			194,378
Net Asset Value, offering and redemption price per share (Net assets divided by outstanding shares):
Class A Shares-Net asset value			$8.03
Class A Shares-Maximum offering price (Net asset value plus sales charge of 2.25%)			$8.21
Class C Shares-Net asset value			$8.03
Class F Shares-Net asset value			$8.03
Class F3 Shares-Net asset value			$8.02
Class I Shares-Net asset value			$8.02
Class R3 Shares-Net asset value			$8.03
Class R4 Shares-Net asset value			$8.03
Class R5 Shares-Net asset value			$8.02
Class R6 Shares-Net asset value			$8.02

54 See Notes to Financial Statements.

Statements of Operations (unaudited)

For the Six Months Ended June 30, 2023

	Emerging Markets Bond Fund				Emerging Markets Corporate Debt Fund
Investment income:
Dividends		$	–			$	1,210
Interest and other (net of foreign withholding taxes of $0 and $1,011, respectively)			3,423,580				1,205,384
Total investment income			3,423,580				1,206,594
Expenses:
Management fee			299,712				150,846
12b-1 distribution plan–Class A			8,216				6,452
12b-1 distribution plan–Class C			2,249				6,444
12b-1 distribution plan–Class F			332				4,205
12b-1 distribution plan–Class R3			357				332
12b-1 distribution plan–Class R4			48				14
Registration			61,657				61,707
Professional			42,486				22,070
Fund administration			23,977				8,620
Reports to shareholders			12,131				10,145
Shareholder servicing			11,726				25,237
Custody			3,192				3,177
Directors’ fees			1,704				620
Other			15,761				8,709
Gross expenses			483,548				308,578
Expense reductions (See Note 9)			(117	)			(397	)
Fees waived and expenses reimbursed (See Note 3)			(3,524	)			(107,798	)
Net expenses			479,907				200,383
Net investment income			2,943,673				1,006,211
Net realized and unrealized gain (loss):
Net realized gain (loss) on investments			(6,874,690	)			(2,328,844	)
Net realized gain (loss) on futures contracts			33,777				(27,516	)
Net realized gain (loss) on forward foreign currency exchange contracts			(23,883	)			(9,288	)
Net realized gain (loss) on swap contracts			476				(29	)
Net realized gain (loss) on foreign currency related transactions			21,831				7,528
Net change in unrealized appreciation/depreciation on investments			7,974,769				2,152,190
Net change in unrealized appreciation/depreciation on futures contracts			(121,892	)			18,625
Net change in unrealized appreciation/depreciation on forward foreign currency exchange contracts			(9,339	)			(9,227	)
Net change in unrealized appreciation/depreciation on translation of assets and liabilities denominated in foreign currencies			482				(478	)
Net realized and unrealized gain (loss)			1,001,531				(197,039	)
Net Increase in Net Assets Resulting From Operations		$	3,945,204			$	809,172

See Notes to Financial Statements. 55

Statements of Operations (unaudited)(concluded)

For the Six Months Ended June 30, 2023

	Global Bond Fund
Investment income:
Interest and other (net of foreign withholding taxes of $87)		$	213,506
Total investment income			213,506
Expenses:
Management fee			21,053
12b-1 distribution plan–Class A			2,358
12b-1 distribution plan–Class C			981
12b-1 distribution plan–Class F			948
12b-1 distribution plan–Class R3			624
12b-1 distribution plan–Class R4			269
Registration			61,734
Professional			30,402
Fund administration			1,959
Reports to shareholders			1,701
Shareholder servicing			607
Custody			6,463
Directors’ fees			213
Other			6,342
Gross expenses			135,654
Expense reductions (See Note 9)			(62	)
Fees waived and expenses reimbursed (See Note 3)			(103,058	)
Net expenses			32,534
Net investment income			180,972
Net realized and unrealized gain (loss):
Net realized gain (loss) on investments			(151,036	)
Net realized gain (loss) on futures contracts			(6,451	)
Net realized gain (loss) on forward foreign currency exchange contracts			(11,369	)
Net realized gain (loss) on swap contracts			(303	)
Net realized gain (loss) on foreign currency related transactions			33,174
Net change in unrealized appreciation/depreciation on investments			239,722
Net change in unrealized appreciation/depreciation on futures contracts			(18,974	)
Net change in unrealized appreciation/depreciation on forward foreign currency exchange contracts			(145,589	)
Net change in unrealized appreciation/depreciation on swap contracts			3,498
Net change in unrealized appreciation/depreciation on translation of assets and liabilities denominated in foreign currencies			(904	)
Net realized and unrealized gain (loss)			(58,232	)
Net Increase in Net Assets Resulting From Operations		$	122,740

56 See Notes to Financial Statements.

Statements of Changes in Net Assets

	Emerging Markets Bond Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended June 30, 2023 (unaudited)			For the Year Ended December 31, 2022
Operations:
Net investment income	$	2,943,673		$	7,695,748
Net realized gain (loss) on investments, futures contracts, forward foreign currency exchange contracts, swap contracts and foreign currency related transactions		(6,842,489	)		(15,287,560	)
Net change in unrealized appreciation/depreciation on investments, futures contracts, forward foreign currency exchange contracts, and translation of assets and liabilities denominated in foreign currencies		7,844,020			(25,186,045	)
Net increase (decrease) in net assets resulting from operations		3,945,204			(32,777,857	)
Distributions to shareholders:
Class A		(200,724	)		(467,848	)
Class C		(11,251	)		(31,036	)
Class F		(16,803	)		(75,877	)
Class F3		(12,449	)		(48,988	)
Class I		(2,782,094	)		(7,344,392	)
Class R3		(3,296	)		(6,471	)
Class R4		(920	)		(2,591	)
Class R5		(232	)		(479	)
Class R6		(11,213	)		(20,864	)
Total distributions to shareholders		(3,038,982	)		(7,998,546	)
Capital share transactions (See Note 15):
Net proceeds from sales of shares		4,432,281			5,435,537
Reinvestment of distributions		2,998,615			7,949,236
Cost of shares reacquired		(11,060,216	)		(57,985,684	)
Net decrease in net assets resulting from capital share transactions		(3,629,320	)		(44,600,911	)
Net decrease in net assets		(2,723,098	)		(85,377,314	)
NET ASSETS:
Beginning of period	$	122,362,656		$	207,739,970
End of period	$	119,639,558		$	122,362,656

See Notes to Financial Statements. 57

Statements of Changes in Net Assets (continued)

	Emerging Markets Corporate Debt Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended June 30, 2023 (unaudited)			For the Year Ended December 31, 2022
Operations:
Net investment income	$	1,006,211		$	2,955,102
Net realized gain (loss) on investments, futures contracts, forward foreign currency exchange contracts, swap contracts and foreign currency related transactions		(2,358,149	)		(7,825,786	)
Net change in unrealized appreciation/depreciation on investments, futures contracts, forward foreign currency exchange contracts, and translation of assets and liabilities denominated in foreign currencies		2,161,110			(5,820,612	)
Net increase (decrease) in net assets resulting from operations		809,172			(10,691,296	)
Distributions to shareholders:
Class A		(155,248	)		(363,722	)
Class C		(33,019	)		(58,085	)
Class F		(203,082	)		(1,861,492	)
Class F3		(251	)		(485	)
Class I		(657,598	)		(807,883	)
Class R3		(2,997	)		(7,844	)
Class R4		(263	)		(571	)
Class R5		(328	)		(815	)
Class R6		(8,240	)		(11,621	)
Total distributions to shareholders		(1,061,026	)		(3,112,518	)
Capital share transactions (See Note 15):
Net proceeds from sales of shares		28,830,165			37,650,078
Reinvestment of distributions		1,049,744			3,101,086
Cost of shares reacquired		(44,881,106	)		(58,601,991	)
Net decrease in net assets resulting from capital share transactions		(15,001,197	)		(17,850,827	)
Net decrease in net assets		(15,253,051	)		(31,654,641	)
NET ASSETS:
Beginning of period	$	47,533,180		$	79,187,821
End of period	$	32,280,129		$	47,533,180

58 See Notes to Financial Statements.

Statements of Changes in Net Assets (concluded)

	Global Bond Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended June 30, 2023 (unaudited)			For the Year Ended December 31, 2022
Operations:
Net investment income	$	180,972		$	295,476
Net realized gain (loss) on investments, futures contracts, forward foreign currency exchange contracts, swap contracts and foreign currency related transactions		(135,985	)		(1,511,930	)
Net change in unrealized appreciation/depreciation on investments, futures contracts, forward foreign currency exchange contracts, swap contracts and translation of assets and liabilities denominated in foreign currencies		77,753			(619,882	)
Net increase (decrease) in net assets resulting from operations		122,740			(1,836,336	)
Distributions to shareholders:
Class A		(45,888	)		(45,739	)
Class C		(3,907	)		(3,620	)
Class F		(38,777	)		(37,748	)
Class F3		(26,616	)		(25,624	)
Class I		(35,906	)		(33,984	)
Class R3		(4,486	)		(4,064	)
Class R4		(4,132	)		(3,889	)
Class R5		(4,421	)		(4,249	)
Class R6		(32,088	)		(30,492	)
Return of Capital:
Class A		–			(30,189	)
Class C		–			(2,389	)
Class F		–			(24,915	)
Class F3		–			(16,913	)
Class I		–			(22,430	)
Class R3		–			(2,683	)
Class R4		–			(2,566	)
Class R5		–			(2,805	)
Class R6		–			(20,126	)
Total distributions to shareholders		(196,221	)		(314,425	)
Capital share transactions (See Note 15):
Net proceeds from sales of shares		159,582			209,827
Reinvestment of distributions		15,227			27,897
Cost of shares reacquired		(48,258	)		(332,345	)
Net increase (decrease) in net assets resulting from capital share transactions		126,551			(94,621	)
Net increase (decrease) in net assets		53,070			(2,245,382	)
NET ASSETS:
Beginning of period	$	9,759,853		$	12,005,235
End of period	$	9,812,923		$	9,759,853

See Notes to Financial Statements. 59

Financial Highlights

EMERGING MARKETS BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Return of capital			Total distri- butions
Class A
6/30/2023(c)	$	3.97	$	0.09	$	0.04		$	0.13		$	(0.10	)	$	–		$	(0.10	)
12/31/2022		4.95		0.19		(0.97	)		(0.78	)		(0.20	)		–			(0.20	)
12/31/2021		5.31		0.20		(0.35	)		(0.15	)		(0.21	)		–			(0.21	)
12/31/2020		5.29		0.21		0.03			0.24			(0.22	)		–			(0.22	)
12/31/2019		4.80		0.25		0.50			0.75			(0.26	)		–			(0.26	)
12/31/2018		5.42		0.18		(0.53	)		(0.35	)		(0.22	)		(0.05	)		(0.27	)
Class C
6/30/2023(c)		4.00		0.08		0.03			0.11			(0.08	)		–			(0.08	)
12/31/2022		4.98		0.16		(0.97	)		(0.81	)		(0.17	)		–			(0.17	)
12/31/2021		5.34		0.17		(0.35	)		(0.18	)		(0.18	)		–			(0.18	)
12/31/2020		5.33		0.19		0.01			0.20			(0.19	)		–			(0.19	)
12/31/2019		4.83		0.22		0.51			0.73			(0.23	)		–			(0.23	)
12/31/2018		5.45		0.15		(0.53	)		(0.38	)		(0.20	)		(0.04	)		(0.24	)
Class F
6/30/2023(c)		3.98		0.10		0.03			0.13			(0.10	)		–			(0.10	)
12/31/2022		4.95		0.20		(0.96	)		(0.76	)		(0.21	)		–			(0.21	)
12/31/2021		5.31		0.21		(0.35	)		(0.14	)		(0.22	)		–			(0.22	)
12/31/2020		5.29		0.22		0.03			0.25			(0.23	)		–			(0.23	)
12/31/2019		4.80		0.26		0.50			0.76			(0.27	)		–			(0.27	)
12/31/2018		5.42		0.17		(0.51	)		(0.34	)		(0.24	)		(0.04	)		(0.28	)
Class F3
6/30/2023(c)		3.97		0.10		0.03			0.13			(0.10	)		–			(0.10	)
12/31/2022		4.94		0.20		(0.96	)		(0.76	)		(0.21	)		–			(0.21	)
12/31/2021		5.30		0.21		(0.35	)		(0.14	)		(0.22	)		–			(0.22	)
12/31/2020		5.29		0.22		0.03			0.25			(0.24	)		–			(0.24	)
12/31/2019		4.80		0.26		0.50			0.76			(0.27	)		–			(0.27	)
12/31/2018		5.41		0.20		(0.53	)		(0.33	)		(0.23	)		(0.05	)		(0.28	)
Class I
6/30/2023(c)		3.97		0.10		0.03			0.13			(0.10	)		–			(0.10	)
12/31/2022		4.94		0.20		(0.96	)		(0.76	)		(0.21	)		–			(0.21	)
12/31/2021		5.30		0.21		(0.35	)		(0.14	)		(0.22	)		–			(0.22	)
12/31/2020		5.28		0.22		0.03			0.25			(0.23	)		–			(0.23	)
12/31/2019		4.80		0.26		0.49			0.75			(0.27	)		–			(0.27	)
12/31/2018		5.41		0.20		(0.53	)		(0.33	)		(0.23	)		(0.05	)		(0.28	)
Class R3
6/30/2023(c)		3.97		0.09		0.03			0.12			(0.09	)		–			(0.09	)
12/31/2022		4.94		0.18		(0.96	)		(0.78	)		(0.19	)		–			(0.19	)
12/31/2021		5.30		0.18		(0.34	)		(0.16	)		(0.20	)		–			(0.20	)
12/31/2020		5.28		0.20		0.03			0.23			(0.21	)		–			(0.21	)
12/31/2019		4.80		0.24		0.49			0.73			(0.25	)		–			(0.25	)
12/31/2018		5.41		0.17		(0.52	)		(0.35	)		(0.22	)		(0.04	)		(0.26	)

60 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b)  (%)			Total expenses after waivers and/or reim- bursements (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	4.00		3.21	(d)		0.98	(e)		0.99	(e)		4.72	(e)	$	9,634		28	(d)
	3.97		(15.83	)		0.94			0.95			4.59			8,420		33
	4.95		(2.81	)		0.87			0.87			3.89			13,738		56
	5.31		4.99			0.90			0.91			4.22			13,811		49
	5.29		15.91			0.96			0.96			4.89			13,433		47
	4.80		(6.55	)		0.98			0.98			3.41			9,636		135
	4.03		2.87	(d)		1.63	(e)		1.64	(e)		4.09	(e)		606		28	(d)
	4.00		(16.26	)		1.59			1.60			3.94			546		33
	4.98		(3.41	)		1.52			1.52			3.24			906		56
	5.34		4.13			1.54			1.55			3.68			1,074		49
	5.33		15.34			1.58			1.58			4.32			1,441		47
	4.83		(7.06	)		1.59			1.59			2.84			1,769		135
	4.01		3.31	(d)		0.78	(e)		0.89	(e)		4.92	(e)		527		28	(d)
	3.98		(15.45	)		0.73			0.84			4.75			940		33
	4.95		(2.63	)		0.66			0.77			4.07			2,581		56
	5.31		5.17			0.70			0.81			4.37			2,802		49
	5.29		16.08			0.76			0.86			5.02			5,064		47
	4.80		(6.44	)		0.84			0.87			3.36			3,821		135
	4.00		3.32	(d)		0.77	(e)		0.78	(e)		4.93	(e)		467		28	(d)
	3.97		(15.48	)		0.73			0.73			4.79			753		33
	4.94		(2.63	)		0.65			0.66			4.06			1,493		56
	5.30		5.01			0.70			0.71			4.45			694		49
	5.29		16.15			0.75			0.75			5.08			710		47
	4.80		(6.19	)		0.76			0.76			3.84			429		135
	4.00		3.31	(d)		0.78	(e)		0.79	(e)		4.93	(e)		107,822		28	(d)
	3.97		(15.49	)		0.74			0.75			4.78			111,029		33
	4.94		(2.63	)		0.67			0.67			4.09			188,299		56
	5.30		5.19			0.70			0.71			4.36			282,521		49
	5.28		15.92			0.76			0.76			5.13			160,122		47
	4.80		(6.19	)		0.78			0.78			3.81			164,990		135
	4.00		3.06	(d)		1.28	(e)		1.29	(e)		4.44	(e)		157		28	(d)
	3.97		(15.92	)		1.24			1.25			4.28			130		33
	4.94		(3.12	)		1.16			1.17			3.60			203		56
	5.30		4.68			1.21			1.22			3.92			198		49
	5.28		15.59			1.26			1.26			4.63			194		47
	4.80		(6.85	)		1.28			1.28			3.39			255		135

See Notes to Financial Statements. 61

Financial Highlights (continued)

EMERGING MARKETS BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Return of capital			Total distri- butions
Class R4
6/30/2023(c)	$	3.97	$	0.09	$	0.04		$	0.13		$	(0.10	)	$	–		$	(0.10	)
12/31/2022		4.94		0.19		(0.96	)		(0.77	)		(0.20	)		–			(0.20	)
12/31/2021		5.30		0.20		(0.35	)		(0.15	)		(0.21	)		–			(0.21	)
12/31/2020		5.29		0.22		0.01			0.23			(0.22	)		–			(0.22	)
12/31/2019		4.80		0.25		0.50			0.75			(0.26	)		–			(0.26	)
12/31/2018		5.42		0.18		(0.53	)		(0.35	)		(0.22	)		(0.05	)		(0.27	)
Class R5
6/30/2023(c)		3.97		0.10		0.03			0.13			(0.10	)		–			(0.10	)
12/31/2022		4.94		0.20		(0.96	)		(0.76	)		(0.21	)		–			(0.21	)
12/31/2021		5.30		0.21		(0.35	)		(0.14	)		(0.22	)		–			(0.22	)
12/31/2020		5.28		0.22		0.04			0.26			(0.24	)		–			(0.24	)
12/31/2019		4.80		0.26		0.49			0.75			(0.27	)		–			(0.27	)
12/31/2018		5.41		0.20		(0.52	)		(0.32	)		(0.24	)		(0.05	)		(0.29	)
Class R6
6/30/2023(c)		3.97		0.10		0.03			0.13			(0.10	)		–			(0.10	)
12/31/2022		4.94		0.20		(0.96	)		(0.76	)		(0.21	)		–			(0.21	)
12/31/2021		5.30		0.21		(0.35	)		(0.14	)		(0.22	)		–			(0.22	)
12/31/2020		5.29		0.22		0.03			0.25			(0.24	)		–			(0.24	)
12/31/2019		4.80		0.26		0.50			0.76			(0.27	)		–			(0.27	)
12/31/2018		5.41		0.19		(0.51	)		(0.32	)		(0.24	)		(0.05	)		(0.29	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.

62 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b)  (%)			Total expenses after waivers and/or reim- bursements (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	4.00		3.18	(d)		1.03	(e)		1.04	(e)		4.68	(e)	$	39		28	(d)
	3.97		(15.71	)		0.99			1.00			4.50			35		33
	4.94		(2.88	)		0.92			0.93			3.84			64		56
	5.30		4.74			0.96			0.97			4.32			71		49
	5.29		15.85			1.02			1.02			4.81			138		47
	4.80		(6.60	)		1.03			1.03			3.53			55		135
	4.00		3.31	(d)		0.79	(e)		0.79	(e)		4.93	(e)		9		28	(d)
	3.97		(15.47	)		0.72			0.72			4.82			9		33
	4.94		(2.60	)		0.64			0.64			4.13			11		56
	5.30		5.22			0.68			0.69			4.47			12		49
	5.28		15.92			0.74			0.74			5.14			12		47
	4.80		(6.17	)		0.76			0.76			4.03			18		135
	4.00		3.32	(d)		0.77	(e)		0.78	(e)		4.94	(e)		378		28	(d)
	3.97		(15.48	)		0.73			0.74			4.81			502		33
	4.94		(2.62	)		0.66			0.66			4.10			445		56
	5.30		5.01			0.70			0.71			4.46			363		49
	5.29		16.15			0.75			0.75			5.11			430		47
	4.80		(6.17	)		0.76			0.76			3.74			317		135

See Notes to Financial Statements. 63

Financial Highlights (continued)

EMERGING MARKETS CORPORATE DEBT FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class A
6/30/2023(c)	$	12.86	$	0.29	$	(0.06	)	$	0.23		$	(0.31	)	$	–		$	(0.31	)
12/31/2022		15.14		0.57		(2.26	)		(1.69	)		(0.59	)		–			(0.59	)
12/31/2021		15.78		0.53		(0.59	)		(0.06	)		(0.58	)		–			(0.58	)
12/31/2020		15.54		0.56		0.29	(f)		0.85			(0.61	)		–			(0.61	)
12/31/2019		14.31		0.64		1.27			1.91			(0.68	)		–			(0.68	)
12/31/2018		15.54		0.61		(1.16	)		(0.55	)		(0.65	)		(0.03	)		(0.68	)
Class C
6/30/2023(c)		12.86		0.25		(0.06	)		0.19			(0.27	)		–			(0.27	)
12/31/2022		15.15		0.48		(2.26	)		(1.78	)		(0.51	)		–			(0.51	)
12/31/2021		15.78		0.44		(0.59	)		(0.15	)		(0.48	)		–			(0.48	)
12/31/2020		15.54		0.46		0.29	(f)		0.75			(0.51	)		–			(0.51	)
12/31/2019		14.31		0.55		1.26			1.81			(0.58	)		–			(0.58	)
12/31/2018		15.55		0.52		(1.18	)		(0.66	)		(0.55	)		(0.03	)		(0.58	)
Class F
6/30/2023(c)		12.86		0.29		(0.05	)		0.24			(0.31	)		–			(0.31	)
12/31/2022		15.15		0.58		(2.26	)		(1.68	)		(0.61	)		–			(0.61	)
12/31/2021		15.79		0.55		(0.60	)		(0.05	)		(0.59	)		–			(0.59	)
12/31/2020		15.54		0.57		0.30	(f)		0.87			(0.62	)		–			(0.62	)
12/31/2019		14.31		0.65		1.27			1.92			(0.69	)		–			(0.69	)
12/31/2018		15.55		0.63		(1.18	)		(0.55	)		(0.66	)		(0.03	)		(0.69	)
Class F3
6/30/2023(c)		12.86		0.31		(0.06	)		0.25			(0.33	)		–			(0.33	)
12/31/2022		15.14		0.61		(2.25	)		(1.64	)		(0.64	)		–			(0.64	)
12/31/2021		15.78		0.59		(0.59	)		–			(0.64	)		–			(0.64	)
12/31/2020		15.54		0.61		0.30	(f)		0.91			(0.67	)		–			(0.67	)
12/31/2019		14.31		0.70		1.26			1.96			(0.73	)		–			(0.73	)
12/31/2018		15.55		0.67		(1.18	)		(0.51	)		(0.70	)		(0.03	)		(0.73	)
Class I
6/30/2023(c)		12.84		0.31		(0.07	)		0.24			(0.32	)		–			(0.32	)
12/31/2022		15.13		0.59		(2.26	)		(1.67	)		(0.62	)		–			(0.62	)
12/31/2021		15.77		0.56		(0.59	)		(0.03	)		(0.61	)		–			(0.61	)
12/31/2020		15.53		0.58		0.30	(f)		0.88			(0.64	)		–			(0.64	)
12/31/2019		14.31		0.68		1.24			1.92			(0.70	)		–			(0.70	)
12/31/2018		15.55		0.64		(1.17	)		(0.53	)		(0.68	)		(0.03	)		(0.71	)
Class R3
6/30/2023(c)		12.86		0.27		(0.06	)		0.21			(0.29	)		–			(0.29	)
12/31/2022		15.14		0.53		(2.26	)		(1.73	)		(0.55	)		–			(0.55	)
12/31/2021		15.78		0.48		(0.59	)		(0.11	)		(0.53	)		–			(0.53	)
12/31/2020		15.54		0.51		0.30	(f)		0.81			(0.57	)		–			(0.57	)
12/31/2019		14.31		0.60		1.26			1.86			(0.63	)		–			(0.63	)
12/31/2018		15.54		0.64		(1.16	)		(0.52	)		(0.68	)		(0.03	)		(0.71	)

64 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b)  (%)			Total expenses after waivers and/or reim- bursements (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	12.78		1.85	(d)		1.05	(e)		1.56	(e)		4.57	(e)	$	6,316		44	(d)
	12.86		(11.19	)		1.05			1.44			4.27			6,703		55
	15.14		(0.39	)		1.05			1.35			3.46			10,050		83
	15.78		5.78			1.05			1.47			3.73			9,218		66
	15.54		13.56			1.05			1.62			4.24			11,660		64
	14.31		(3.65	)		1.05			1.54			4.14			8,729		56
	12.78		1.46	(d)		1.67	(e)		2.17	(e)		3.96	(e)		1,628		44	(d)
	12.86		(11.73	)		1.68			2.08			3.66			1,511		55
	15.15		(0.94	)		1.67			1.97			2.84			1,748		83
	15.78		5.09			1.71			2.13			3.08			1,840		66
	15.54		12.85			1.68			2.25			3.61			2,307		64
	14.31		(4.28	)		1.71			2.20			3.50			1,926		56
	12.79		1.89	(d)		0.95	(e)		1.48	(e)		4.51	(e)		2,404		44	(d)
	12.86		(11.09	)		0.95			1.31			4.28			19,603		55
	15.15		(0.23	)		0.95			1.25			3.55			61,510		83
	15.79		5.87			0.95			1.37			3.80			50,424		66
	15.54		13.66			0.95			1.51			4.30			42,660		64
	14.31		(3.63	)		0.95			1.44			4.22			24,115		56
	12.78		2.02	(d)		0.71	(e)		1.20	(e)		4.91	(e)		10		44	(d)
	12.86		(10.88	)		0.70			1.06			4.63			10		55
	15.14		(0.02	)		0.68			0.99			3.83			11		83
	15.78		6.16			0.69			1.07			4.10			12		66
	15.54		13.94			0.70			1.25			4.61			12		64
	14.31		(3.32	)		0.68			1.21			4.49			10		56
	12.76		1.87	(d)		0.85	(e)		1.35	(e)		4.80	(e)		21,512		44	(d)
	12.84		(11.02	)		0.85			1.28			4.57			19,229		55
	15.13		(0.14	)		0.85			1.15			3.63			5,449		83
	15.77		5.90			0.85			1.26			3.85			2,850		66
	15.53		13.69			0.85			1.45			4.51			5,635		64
	14.31		(3.46	)		0.85			1.35			4.35			8,891		56
	12.78		1.70	(d)		1.35	(e)		1.85	(e)		4.28	(e)		134		44	(d)
	12.86		(11.45	)		1.35			1.74			3.97			131		55
	15.14		(0.68	)		1.35			1.65			3.14			228		83
	15.78		5.46			1.35			1.77			3.43			153		66
	15.54		13.31			1.35			1.92			3.96			147		64
	14.31		(3.53	)		0.85			1.85			4.35			125		56

See Notes to Financial Statements. 65

Financial Highlights (continued)

EMERGING MARKETS CORPORATE DEBT FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class R4
6/30/2023(c)	$	12.85	$	0.29	$	(0.06	)	$	0.23		$	(0.30	)	$	–		$	(0.30	)
12/31/2022		15.13		0.56		(2.25	)		(1.69	)		(0.59	)		–			(0.59	)
12/31/2021		15.77		0.53		(0.60	)		(0.07	)		(0.57	)		–			(0.57	)
12/31/2020		15.53		0.55		0.29	(f)		0.84			(0.60	)		–			(0.60	)
12/31/2019		14.30		0.64		1.26			1.90			(0.67	)		–			(0.67	)
12/31/2018		15.54		0.60		(1.17	)		(0.57	)		(0.64	)		(0.03	)		(0.67	)
Class R5
6/30/2023(c)		12.86		0.30		(0.06	)		0.24			(0.32	)		–			(0.32	)
12/31/2022		15.15		0.59		(2.26	)		(1.67	)		(0.62	)		–			(0.62	)
12/31/2021		15.78		0.60		(0.62	)		(0.02	)		(0.61	)		–			(0.61	)
12/31/2020		15.54		0.59		0.29	(f)		0.88			(0.64	)		–			(0.64	)
12/31/2019		14.31		0.67		1.27			1.94			(0.71	)		–			(0.71	)
12/31/2018		15.55		0.65		(1.18	)		(0.53	)		(0.68	)		(0.03	)		(0.71	)
Class R6
6/30/2023(c)		12.86		0.31		(0.06	)		0.25			(0.33	)		–			(0.33	)
12/31/2022		15.15		0.62		(2.27	)		(1.65	)		(0.64	)		–			(0.64	)
12/31/2021		15.78		0.59		(0.58	)		0.01			(0.64	)		–			(0.64	)
12/31/2020		15.54		0.61		0.30	(f)		0.91			(0.67	)		–			(0.67	)
12/31/2019		14.31		0.69		1.27			1.96			(0.73	)		–			(0.73	)
12/31/2018		15.54		0.67		(1.17	)		(0.50	)		(0.70	)		(0.03	)		(0.73	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Realized and unrealized gain (loss) per share does not correlate to the aggregate of the net realized and unrealized gain (loss) in the Statement of Operations for the year ended December 31, 2020, primarily due to the timing of the sales and repurchases of the Fund’s shares in relation to fluctuating market values of the Fund’s portfolio.

66 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reim- bursements (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	12.78		1.82	(d)		1.10	(e)		1.59	(e)		4.54	(e)	$	11		44	(d)
	12.85		(11.24	)		1.10			1.47			4.17			11		55
	15.13		(0.37	)		1.10			1.40			3.42			21		83
	15.77		5.74			1.10			1.53			3.68			20		66
	15.53		13.52			1.10			1.67			4.23			15		64
	14.30		(3.77	)		1.10			1.57			4.08			14		56
	12.78		1.96	(d)		0.85	(e)		1.34	(e)		4.75	(e)		10		44	(d)
	12.86		(11.00	)		0.85			1.25			4.50			17		55
	15.15		(0.20	)		0.85			1.18			3.83			20		83
	15.78		5.99			0.85			1.27			3.93			268		66
	15.54		13.79			0.85			1.42			4.47			248		64
	14.31		(3.45	)		0.85			1.39			4.43			240		56
	12.78		1.94	(d)		0.71	(e)		1.25	(e)		4.92	(e)		256		44	(d)
	12.86		(10.86	)		0.70			1.13			4.75			317		55
	15.15		0.05			0.68			1.02			3.83			150		83
	15.78		6.16			0.69			1.10			4.09			133		66
	15.54		13.94			0.71			1.26			4.59			128		64
	14.31		(3.31	)		0.69			1.28			4.60			96		56

See Notes to Financial Statements. 67

Financial Highlights (continued)

GLOBAL BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Return of capital			Total distri- butions
Class A
6/30/2023(c)	$	8.09	$	0.14	$	(0.04	)	$	0.10		$	(0.16	)	$	–		$	–		$	(0.16	)
12/31/2022		9.85		0.23		(1.74	)		(1.51	)		(0.15	)		–			(0.10	)		(0.25	)
12/31/2021		10.63		0.22		(0.52	)		(0.30	)		(0.40	)		(0.08	)		–			(0.48	)
12/31/2020		10.13		0.24		0.56			0.80			(0.30	)		–			–			(0.30	)
12/31/2019		9.71		0.26		0.54			0.80			(0.33	)		(0.05	)		–			(0.38	)
7/26/2018 to 12/31/2018(f)(g)		10.00		0.11		(0.26	)		(0.15	)		(0.14	)		–			–			(0.14	)
Class C
6/30/2023(c)		8.08		0.12		(0.04	)		0.08			(0.13	)		–			–			(0.13	)
12/31/2022		9.85		0.18		(1.76	)		(1.58	)		(0.09	)		–			(0.10	)		(0.19	)
12/31/2021		10.63		0.16		(0.53	)		(0.37	)		(0.33	)		(0.08	)		–			(0.41	)
12/31/2020		10.13		0.18		0.56			0.74			(0.24	)		–			–			(0.24	)
12/31/2019		9.71		0.18		0.54			0.72			(0.25	)		(0.05	)		–			(0.30	)
7/26/2018 to 12/31/2018(f)(g)		10.00		0.08		(0.27	)		(0.19	)		(0.10	)		–			–			(0.10	)
Class F
6/30/2023(c)		8.08		0.15		(0.04	)		0.11			(0.16	)		–			–			(0.16	)
12/31/2022		9.85		0.25		(1.76	)		(1.51	)		(0.16	)		–			(0.10	)		(0.26	)
12/31/2021		10.63		0.25		(0.53	)		(0.28	)		(0.42	)		(0.08	)		–			(0.50	)
12/31/2020		10.13		0.25		0.57			0.82			(0.32	)		–			–			(0.32	)
12/31/2019		9.71		0.28		0.54			0.82			(0.35	)		(0.05	)		–			(0.40	)
7/26/2018 to 12/31/2018(f)(g)		10.00		0.12		(0.26	)		(0.14	)		(0.15	)		–			–			(0.15	)
Class F3
6/30/2023(c)		8.08		0.15		(0.05	)		0.10			(0.16	)		–			–			(0.16	)
12/31/2022		9.85		0.25		(1.76	)		(1.51	)		(0.16	)		–			(0.10	)		(0.26	)
12/31/2021		10.63		0.25		(0.53	)		(0.28	)		(0.42	)		(0.08	)		–			(0.50	)
12/31/2020		10.13		0.26		0.57			0.83			(0.33	)		–			–			(0.33	)
12/31/2019		9.71		0.29		0.54			0.83			(0.36	)		(0.05	)		–			(0.41	)
7/26/2018 to 12/31/2018(f)(g)		10.00		0.13		(0.27	)		(0.14	)		(0.15	)		–			–			(0.15	)
Class I
6/30/2023(c)		8.08		0.15		(0.05	)		0.10			(0.16	)		–			–			(0.16	)
12/31/2022		9.85		0.25		(1.76	)		(1.51	)		(0.16	)		–			(0.10	)		(0.26	)
12/31/2021		10.63		0.25		(0.53	)		(0.28	)		(0.42	)		(0.08	)		–			(0.50	)
12/31/2020		10.13		0.26		0.56			0.82			(0.32	)		–			–			(0.32	)
12/31/2019		9.71		0.28		0.54			0.82			(0.35	)		(0.05	)		–			(0.40	)
7/26/2018 to 12/31/2018(f)(g)		10.00		0.12		(0.26	)		(0.14	)		(0.15	)		–			–			(0.15	)

68 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reim- bursements (%)			Total expenses (%)			Net investment income  (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	8.03		1.31	(d)		0.78	(e)		2.87	(e)		3.58	(e)	$	2,424		100	(d)
	8.09		(15.44	)		0.78			2.76			2.71			2,332		179
	9.85		(3.02	)		0.78			2.78			2.17			2,965		126
	10.63		8.18			0.78			2.44			2.38			2,737		239
	10.13		8.32			0.78			3.03			2.56			2,151		315
	9.71		(1.42	)(d)(h)		0.78	(e)		2.77	(e)		2.64	(e)		1,969		123
	8.03		1.00	(d)		1.40	(e)		3.48	(e)		2.96	(e)		237		100	(d)
	8.08		(15.97	)		1.40			3.38			2.07			239		179
	9.85		(3.62	)		1.40			3.42			1.56			330		126
	10.63		7.52			1.39			3.05			1.77			294		239
	10.13		7.48			1.56			3.81			1.78			277		315
	9.71		(1.76	)(d)(h)		1.58	(e)		3.57	(e)		1.84	(e)		245		123
	8.03		1.41	(d)		0.58	(e)		2.77	(e)		3.78	(e)		1,876		100	(d)
	8.08		(15.36	)		0.58			2.66			2.91			1,920		179
	9.85		(2.73	)		0.58			2.67			2.38			2,336		126
	10.63		8.39			0.58			2.25			2.45			2,365		239
	10.13		8.53			0.58			2.93			2.76			2,139		315
	9.71		(1.33	)(d)(h)		0.58	(e)		2.67	(e)		2.84	(e)		1,971		123
	8.02		1.41	(d)		0.57	(e)		2.66	(e)		3.79	(e)		1,289		100	(d)
	8.08		(15.26	)		0.57			2.57			2.92			1,298		179
	9.85		(2.72	)		0.56			2.57			2.41			1,581		126
	10.63		8.37			0.51			2.23			2.65			1,707		239
	10.13		8.66			0.46			2.78			2.88			1,607		315
	9.71		(1.28	)(d)(h)		0.46	(e)		2.55	(e)		2.96	(e)		1,479		123
	8.02		1.41	(d)		0.58	(e)		2.67	(e)		3.78	(e)		1,750		100	(d)
	8.08		(15.27	)		0.58			2.56			2.91			1,728		179
	9.85		(2.74	)		0.58			2.57			2.38			2,104		126
	10.63		8.29			0.58			2.25			2.58			2,271		239
	10.13		8.53			0.58			2.83			2.76			2,139		315
	9.71		(1.33	)(d)(h)		0.58	(e)		2.57	(e)		2.84	(e)		1,971		123

See Notes to Financial Statements. 69

Financial Highlights (concluded)

GLOBAL BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Return of capital			Total distri- butions
Class R3
6/30/2023(c)	$	8.09	$	0.13	$	(0.05	)	$	0.08		$	(0.14	)	$	–		$	–		$	(0.14	)
12/31/2022		9.85		0.21		(1.75	)		(1.54	)		(0.12	)		–			(0.10	)		(0.22	)
12/31/2021		10.63		0.19		(0.52	)		(0.33	)		(0.37	)		(0.08	)		–			(0.45	)
12/31/2020		10.13		0.21		0.56			0.77			(0.27	)		–			–			(0.27	)
12/31/2019		9.71		0.23		0.54			0.77			(0.30	)		(0.05	)		–			(0.35	)
7/26/2018 to 12/31/2018(f)(g)		10.00		0.10		(0.26	)		(0.16	)		(0.13	)		–			–			(0.13	)
Class R4
6/30/2023(c)		8.09		0.14		(0.05	)		0.09			(0.15	)		–			–			(0.15	)
12/31/2022		9.85		0.23		(1.75	)		(1.52	)		(0.14	)		–			(0.10	)		(0.24	)
12/31/2021		10.63		0.22		(0.53	)		(0.31	)		(0.39	)		(0.08	)		–			(0.47	)
12/31/2020		10.13		0.23		0.57			0.80			(0.30	)		–			–			(0.30	)
12/31/2019		9.71		0.25		0.54			0.79			(0.32	)		(0.05	)		–			(0.37	)
7/26/2018 to 12/31/2018(f)(g)		10.00		0.11		(0.26	)		(0.15	)		(0.14	)		–			–			(0.14	)
Class R5
6/30/2023(c)		8.08		0.15		(0.05	)		0.10			(0.16	)		–			–			(0.16	)
12/31/2022		9.85		0.25		(1.76	)		(1.51	)		(0.16	)		–			(0.10	)		(0.26	)
12/31/2021		10.63		0.25		(0.53	)		(0.28	)		(0.42	)		(0.08	)		–			(0.50	)
12/31/2020		10.13		0.26		0.56			0.82			(0.32	)		–			–			(0.32	)
12/31/2019		9.71		0.28		0.54			0.82			(0.35	)		(0.05	)		–			(0.40	)
7/26/2018 to 12/31/2018(f)(g)		10.00		0.12		(0.26	)		(0.14	)		(0.15	)		–			–			(0.15	)
Class R6
6/30/2023(c)		8.08		0.15		(0.05	)		0.10			(0.16	)		–			–			(0.16	)
12/31/2022		9.85		0.25		(1.76	)		(1.51	)		(0.16	)		–			(0.10	)		(0.26	)
12/31/2021		10.63		0.25		(0.53	)		(0.28	)		(0.42	)		(0.08	)		–			(0.50	)
12/31/2020		10.13		0.26		0.57			0.83			(0.33	)		–			–			(0.33	)
12/31/2019		9.71		0.29		0.54			0.83			(0.36	)		(0.05	)		–			(0.41	)
7/26/2018 to 12/31/2018(f)(g)		10.00		0.13		(0.27	)		(0.14	)		(0.15	)		–			–			(0.15	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Commenced on 07/26/2018, SEC effective date and date shares first became available to the public was 8/1/2018.
(g)	Net investment income, net realized and unrealized gain amounted to less than $.01 for the period 7/26/2018 through 8/1/2018.
(h)	Total return for the period 8/1/2018 through 12/31/2018 was (1.51)% for Class A, (1.85)% for Class C, (1.43)% for Class F,(1.38)% for Class F3, (1.43)% for Class I, (1.64)% for Class R3, (1.53)% for Class R4, (1.43)% for Class R5 and (1.38)% for Class R6.

70 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reim- bursements (%)			Total expenses (%)			Net investment income  (loss) (%)			Net assets, end of period (000)			Portfolio turnover rate (%)
$	8.03		1.16	(d)		1.08	(e)		3.17	(e)		3.28	(e)	$	249			100	(d)
	8.09		(15.70	)		1.08			3.06			2.41			249			179
	9.85		(3.23	)		1.08			3.07			1.88			294			126
	10.63		7.75			1.08			2.75			2.08			281			239
	10.13		8.00			1.08			3.33			2.26			265			315
	9.71		(1.54	)(d)(h)		1.08	(e)		3.07	(e)		2.34	(e)		246			123
	8.03		1.28	(d)		0.83	(e)		2.92	(e)		3.53	(e)		213			100	(d)
	8.09		(15.57	)		0.83			2.81			2.66			215			179
	9.85		(2.98	)		0.83			2.80			2.14			262			126
	10.63		8.13			0.83			2.50			2.33			303			239
	10.13		8.26			0.83			3.08			2.51			266			315
	9.71		(1.44	)(d)(h)		0.83	(e)		2.82	(e)		2.59	(e)		246			123
	8.02		1.41	(d)		0.58	(e)		2.67	(e)		3.78	(e)		214			100	(d)
	8.08		(15.27	)		0.58			2.56			2.91			216			179
	9.85		(2.74	)		0.58			2.57			2.38			263			126
	10.63		8.29			0.58			2.25			2.58			284			239
	10.13		8.53			0.58			2.83			2.76			267			315
	9.71		(1.33	)(d)(h)		0.58	(e)		2.57	(e)		2.84	(e)		246			123
	8.02		1.29	(d)		0.57	(e)		2.66	(e)		3.79	(e)		1,560	��		100	(d)
	8.08		(15.27	)		0.57			2.57			2.92			1,562			179
	9.85		(2.72	)		0.56			2.56			2.40			1,870			126
	10.63		8.37			0.51			2.22			2.65			2,002			239
	10.13		8.66			0.46			2.78			2.88			1,782			315
	9.71		(1.28	)(d)(h)		0.46	(e)		2.56	(e)		2.96	(e)		1,611			123

See Notes to Financial Statements. 71

Notes to Financial Statements (unaudited)

1. ORGANIZATION  

Lord Abbett Global Fund, Inc. (the “Company”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end management investment company and was incorporated under Maryland law on February 23, 1988.

The Company consists of the following three funds (separately, a “Fund” and collectively, the “Funds”) and their respective active share classes:

Funds	Classes
Lord Abbett Emerging Markets Bond Fund (“Emerging Markets Bond Fund”)	A, C, F, F3, I, R3, R4, R5 and R6
Lord Abbett Emerging Markets Corporate Debt Fund (“Emerging Markets Corporate Debt Fund”)	A, C, F, F3, I, R3, R4, R5 and R6
Lord Abbett Global Bond Fund (“Global Bond Fund”)	A, C, F, F3, I, R3, R4, R5 and R6

Each Fund is diversified as defined in the Act.

Emerging Markets Bond Fund’s investment objective is to seek high total return. Emerging Markets Corporate Debt Fund’s and Global Bond Fund’s investment objective is total return.

Each class of shares has different expenses and dividends. A front-end sales charge is normally added to the net asset value (“NAV”) for Class A shares. There is no front-end sales charge in the case of Class C, F, F3, I, R3, R4, R5 and R6 shares, although there may be a contingent deferred sales charge (“CDSC”) in certain cases as follows: Class A shares purchased without a sales charge and redeemed before the first day of the month in which the one-year anniversary of the purchase falls (subject to certain exceptions as set forth in each Fund’s prospectus); Class C shares redeemed before the first anniversary of purchase. Class A shares purchased without a sales charge and redeemed before the first day of the month in which the one-year anniversary of the purchase falls (subject to certain exceptions as set forth in each Fund’s prospectus); and Class C shares redeemed before the first anniversary of purchase. Class C shares automatically convert to Class A shares on the 25th day of the month (or, if the 25th day is not a business day, the next business day thereafter) following the eighth anniversary of the month on which the purchase order was accepted, provided that the Fund or financial intermediary through which a shareholder purchased Class C shares has records verifying that the Class C shares have been held at least eight years.

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. These Funds are considered investment companies under U.S. GAAP and follow the accounting and reporting guidance applicable to investment companies.

2. SIGNIFICANT ACCOUNTING POLICIES  

(a) Investment Valuation–Under procedures approved by the Funds’ Board of Directors (the “Board”), the Board has designated the determination of fair value of the Funds’ portfolio investments to Lord, Abbett & Co. LLC (“Lord Abbett”) as its valuation designee. Accordingly, Lord Abbett is responsible for, among other things, assessing and managing valuation risks, establishing, applying and testing fair value methodologies, and evaluating pricing services.

72

Notes to Financial Statements (unaudited)(continued)

	Lord Abbett has formed a Pricing Committee that performs these responsibilities on behalf of Lord Abbett, administers the pricing and valuation of portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
	Securities actively traded on any recognized U.S. or non-U.S. exchange or on The NASDAQ Stock Market LLC are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Pricing Committee uses a third-party fair valuation service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that correlate to the fair-valued securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the most recently quoted bid and ask prices. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. Fixed income securities are valued based on evaluated prices supplied by independent pricing services, which reflect broker/dealer supplied valuation and the independent pricing services’ own electronic data processing techniques. Floating rate loans are valued at the average of bid and ask quotations obtained from dealers in loans on the basis of prices supplied by independent pricing services. Forward foreign currency exchange contracts are valued using daily forward exchange rates. Options and options on swaps (“swaptions”) are valued daily using independent pricing services or quotations from broker/dealers to the extent available. Swaps are valued daily using independent pricing services or quotations from broker/dealers to the extent available.
	Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use observable inputs such as yield curves, broker quotes, observable trading activity, option adjusted spread models and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee.
	Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value.
(b)	Security Transactions–Security transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Realized and unrealized gains (losses) are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day.
(c)	Investment Income–Dividend income is recorded on the ex-dividend date. Interest income is recorded on the accrual basis as earned. Discounts are accreted and premiums are amortized using the effective interest method and are included in Interest and other, if applicable, in the

73

Notes to Financial Statements (unaudited)(continued)

	Statements of Operations. Withholding taxes on foreign dividends have been provided for in accordance with the applicable country’s tax rules and rates. Investment income is allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day.
(d)	Income Taxes–It is the policy of each Fund to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required.
	Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on each Fund’s filed U.S. federal tax returns remains open for the fiscal years ended December 31, 2019 through December 31, 2022. The statutes of limitations on each Fund’s state and local tax returns may remain open for an additional year depending upon each Fund’s jurisdiction.
(e)	Expenses–Expenses incurred by the Company that do not specifically relate to an individual fund are generally allocated to the Funds within the Company on a pro rata basis by relative net assets. Expenses, excluding class-specific expenses, are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day. In addition, Class F3 and R6 bear only their class-specific shareholder servicing expenses. Class A, C, F, R3 and R4 shares bear their class-specific share of all expenses and fees relating to the Funds’ 12b-1 Distribution Plan.
(f)	Foreign Transactions–The books and records of each Fund are maintained in U.S. dollars and transactions denominated in foreign currencies are recorded in each Fund’s records at the rate prevailing when earned or recorded. Asset and liability accounts that are denominated in foreign currencies are adjusted daily to reflect current exchange rates and any unrealized gain (loss), if applicable, is included in Net change in unrealized appreciation/depreciation on translation of assets and liabilities denominated in foreign currencies on each Fund’s Statement of Operations. The resultant exchange gains and losses upon settlement of such transactions, if applicable, are included in Net realized gain (loss) on foreign currency related transactions on each Fund’s Statement of Operations. The Funds do not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the changes in market prices of the securities.
	Each Fund uses foreign currency exchange contracts to facilitate transactions in foreign-denominated securities. Losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts’ terms.
(g)	Forward Foreign Currency Exchange Contracts–Each Fund may enter into forward foreign currency exchange contracts in order to reduce exposure to changes in foreign currency exchange rates on foreign portfolio holdings, or gain or reduce exposure to foreign currency solely for investment purposes. A forward foreign currency exchange contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated rate. The contracts are valued daily at forward exchange rates and any unrealized gain (loss), if applicable, is included in Net change in unrealized appreciation/depreciation on forward foreign currency exchange contracts in each Fund’s Statement of Operations. The gain (loss) arising from the difference between the U.S. dollar cost of the original contract and the value of the forward foreign currency in U.S. dollars upon closing of such contracts is included, if applicable, in Net realized gain (loss) on forward foreign currency exchange contracts in each Fund’s Statement of Operations.

74

Notes to Financial Statements (unaudited)(continued)

(h)	Futures Contracts–Each Fund may purchase and sell futures contracts to enhance returns, to attempt to economically hedge some of its investment risk, or as a substitute position in lieu of holding the underlying asset on which the instrument is based. At the time of entering into a futures transaction, an investor is required to deposit and maintain a specified amount of cash or eligible securities called “initial margin.” Subsequent payments made or received by the Fund called “variation margin” are made on a daily basis as the market price of the futures contract fluctuates. Each Fund will record an unrealized gain (loss) based on the amount of variation margin. When a contract is closed, a realized gain (loss) is recorded equal to the difference between the opening and closing value of the contract.
(i)	Credit Default Swap Contracts–Each Fund may enter into credit default swap contracts in order to hedge credit risk or for speculation purposes. As a seller of a credit default swap contract (“seller of protection”), a Fund is required to pay the notional amount or other agreed-upon value of a referenced debt obligation to the counterparty in the event of a default by or other credit event involving the referenced issuer, obligation or index. In return, a Fund receives from the counterparty a periodic stream of payments over the term of the contract.
	As a purchaser of a credit default swap contract (“buyer of protection”), a Fund would receive the notional amount or other agreed upon value of a referenced debt obligation from the counterparty in the event of default by or other credit event involving the referenced issuer, obligation or index. In return, a Fund makes periodic payments to the counterparty over the term of the contracts, provided no event of default has occurred.
	These credit default swap contracts may have as a reference obligation corporate or sovereign issuers or credit indexes. These credit indexes are comprised of a basket of securities representing a particular sector of the market.
	Credit default swap contracts are fair valued based upon quotations from counterparties, brokers or market-makers and the change in value, if any, is recorded as unrealized appreciation or depreciation. For a credit default swap contract sold by a Fund, payment of the agreed-upon amount made by a Fund in the event of default of the referenced debt obligation is recorded as the cost of the referenced debt obligation purchased/received. For a credit default swap contract purchased by a Fund, the agreed-upon amount received by a Fund in the event of default of the referenced debt obligation is recorded as proceeds from sale/delivery of the referenced debt obligation and the resulting gain or loss realized on the referenced debt obligation is recorded as such by a Fund.
	Any upfront payments made or received upon entering a credit default swap contract would be amortized or accreted over the life of the swap contract and recorded as realized gains or losses. Collateral, in the form of cash or securities, may be required to be held in segregated accounts with the custodian bank or broker in accordance with the swap contract agreement. The value and credit rating of each credit default swap contract where a Fund is the seller of protection, are both measures of the current payment/performance risk of the swap contract. As the value of the swap contract changes as a positive or negative percentage of the total notional amount, the payment/performance risk may decrease or increase, respectively. The maximum potential amount of future payments (undiscounted) that a Fund as a seller of protection could be required to make under a credit default swap contract agreement would be an amount equal to the notional amount of the agreement. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the

75

Notes to Financial Statements (unaudited)(continued)

	settlement of buy protection credit default swap contract agreements entered into by a Fund for the same referenced entity or entities.
	Entering into credit default swap contracts involves credit and market risk. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements, and that there may be unfavorable changes in interest rates, and that Lord Abbett does not correctly predict the creditworthiness of the issuers of the reference obligation on which the credit default swap contract is based. For the centrally cleared credit default swap contracts, there was minimal counterparty risk to the Funds, since such credit default swap contracts entered into were traded through a central clearinghouse, which guarantees against default.
(j)	Options–Each Fund may purchase and write exchange-listed and over-the-counter put or call options on securities, stock indices, currencies and other financial instruments for hedging purposes, to enhance portfolio returns and reduce overall volatility.
	When a fund writes (sells) an option, an amount equal to the premium received by each Fund is recorded as a liability in the Statements of Assets and Liabilities. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, each Fund realizes a gain on the option to the extent of the premium received. Premiums received from writing options which are exercised or closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium reduces the cost basis of the security purchased by each Fund. If a call option is exercised, the premium is added to the proceeds of the security sold to determine the realized gain or loss. Each Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying investment. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contracts.
	Put and call options purchased are accounted for in the same manner as portfolio securities. Premiums paid for purchasing options which expire are treated as realized losses. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss when the underlying transaction is executed. The risk associated with purchasing an option is that each Fund pays a premium whether or not the option is exercised. Additionally, each Fund bears the risk of loss of the premium and change in market value should the counterparty not perform under the contract.
(k)	Repurchase Agreements–Each Fund may enter into repurchase agreements with respect to securities. A repurchase agreement is a transaction in which a fund acquires a security and simultaneously commits to resell that security to the seller (a bank or securities dealer) at an agreed-upon price on an agreed-upon date. Each Fund requires at all times that the repurchase agreement be collateralized by cash, or by securities of the U.S. Government, its agencies, its instrumentalities, or U.S. Government sponsored enterprises having a value equal to, or in excess of, the value of the repurchase agreement (including accrued interest). If the seller of the agreement defaults on its obligation to repurchase the underlying securities at a time when the fair value of these securities has declined, a Fund may incur a loss upon disposition of the securities.

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Notes to Financial Statements (unaudited)(continued)

(l)	When-Issued, Forward Transactions or To-Be-Announced (“TBA”) Transactions–Each Fund may purchase portfolio securities on a when-issued or forward basis. When-issued, forward transactions or TBA transactions involve a commitment by a Fund to purchase securities, with payment and delivery (“settlement”) to take place in the future, in order to secure what is considered to be an advantageous price or yield at the time of entering into the transaction. During the period between purchase and settlement, the fair value of the securities will fluctuate and assets consisting of cash and/or marketable securities (normally short-term U.S. Government or U.S. Government sponsored enterprise securities) marked to market daily in an amount sufficient to make payment at settlement will be segregated at each Fund’s custodian in order to pay for the commitment. At the time each Fund makes the commitment to purchase a security on a when-issued basis, it will record the transaction and reflect the liability for the purchase and fair value of the security in determining its NAV. Each Fund, generally, has the ability to close out a purchase obligation on or before the settlement date rather than take delivery of the security. Under no circumstances will settlement for such securities take place more than 120 days after the purchase date.
(m)	Mortgage Dollar Rolls–Each Fund may enter into mortgage dollar rolls in which a Fund sells mortgage-backed securities for delivery in the current month and simultaneously contracts with the same counterparty to repurchase similar (same type, coupon and maturity) but not identical securities on a specified future date. During the roll period, each Fund loses the right to receive principal (including prepayments of principal) and interest paid on the securities sold.
(n)	Commercial Paper–Each Fund may purchase commercial paper. Commercial paper consists of unsecured promissory notes issued by corporations to finance short-term credit needs. Commercial paper is issued in bearer form with maturities generally not exceeding nine months. Commercial paper obligations may include variable amount master demand notes.
(o)	Reverse Repurchase Agreements–Each Fund may enter into reverse repurchase agreements. In a reverse repurchase agreement, a fund sells a security to a securities dealer or bank for cash and also agrees to repurchase the same security later at a set price. Reverse repurchase agreements expose each Fund to credit risk (that is, the risk that the counterparty will fail to resell the security to each Fund). Engaging in reverse repurchase agreements also may involve the use of leverage, in that a Fund may reinvest the cash it receives in additional securities. Reverse repurchase agreements involve the risk that the market value of the securities to be repurchased by each Fund may decline below the repurchase price.
	For the six months ended June 30, 2023, the Funds did not invest in reverse repurchase agreements.
(p)	Floating Rate Loans–Each Fund may invest in floating rate loans, which usually take the form of loan participations and assignments. Loan participations and assignments are agreements to make money available to U.S. or foreign corporations, partnerships or other business entities (the “Borrower”) in a specified amount, at a specified rate and within a specified time. A loan is typically originated, negotiated and structured by a U.S. or foreign bank, insurance company or other financial institution (the “Agent”) for a group of loan investors (“Loan Investors”). The Agent typically administers and enforces the loan on behalf of the other Loan Investors in the syndicate and may hold any collateral on behalf of the Loan Investors. Such loan participations and assignments are typically senior, secured and collateralized in nature. Each Fund records an investment when the Borrower withdraws

77

Notes to Financial Statements (unaudited)(continued)

	money and records interest as earned. These loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. These base lending rates are generally the prime rate offered by a designated U.S. Bank or London InterBank Offered Rate (“LIBOR”).
	The loans in which each Fund invests may be subject to some restrictions on resale. For example, each Fund may be contractually obligated to receive approval from the Agent and/or Borrower prior to the sale of these investments. Each Fund generally has no right to enforce compliance with the terms of the loan agreement with the Borrower. As a result, each Fund assumes the credit risk of the Borrower, the selling participant and any other persons interpositioned between each Fund and the Borrower (“Intermediate Participants”). In the event that the Borrower, selling participant or Intermediate Participants become insolvent or enter into bankruptcy, each Fund may incur certain costs and delays in realizing payment or may suffer a loss of principal and/or interest.
	Unfunded commitments represent the remaining obligation of each Fund to the Borrower. At any point in time, up to the maturity date of the issue, the Borrower may demand the unfunded portion. Until demanded by the Borrower, unfunded commitments are not recognized as an asset on the Statements of Assets and Liabilities. Unrealized appreciation/depreciation on unfunded commitments presented, if any, on the Statements of Assets and Liabilities represent mark to market of the unfunded portion of each Fund’s floating rate notes.
	As of June 30, 2023, the Funds did not have any unfunded loan commitments.
(q)	Inflation-Linked Derivatives–Each Fund may invest in inflation-linked derivatives, such as Consumer Price Index Swap Contract Agreements (“CPI swap contracts”). A CPI swap contract is a contract in which one party agrees to pay a fixed rate in exchange for a variable rate, which is the rate of change in the CPI during the life of the contract. Payments are based on a notional amount of principal. A Fund will normally enter into CPI swap contracts on a zero coupon basis, meaning that the floating rate will be based on the cumulative CPI during the life of the contract, and the fixed rate will compound until the swap contract’s maturity date, at which point the payments are netted. The swap contracts are valued daily and any unrealized gain (loss) is included in the Net change in unrealized appreciation/depreciation on swap contracts in the Fund’s Statement of Operations. A liquidation payment received or made at the termination or maturity of the swap contract is recorded in realized gain (loss) and is included in Net realized gain (loss) on swap contracts in the Fund’s Statement of Operations. Daily changes in valuation of centrally cleared CPI swap contracts, if any, are recorded as a receivable or payable for the change in value as appropriate (“variation margin”) on the Statements of Assets and Liabilities. For the centrally cleared CPI swap contracts, there was minimal counterparty risk to the Fund, since such CPI swap contracts entered into were traded through a central clearinghouse, which guarantees against default.
(r)	Interest Rate Swap Contracts–Each Fund may enter into interest rate swap contract agreements. Pursuant to interest rate swap contract agreements, a Fund either makes floating-rate payments to the counterparty (or Central counterparty clearing house (“CCP”) in the case of centrally cleared swap contracts) based on a benchmark interest rate in exchange for fixed-rate payments or a Fund makes fixed-rate payments to the counterparty or CCP in exchange for payments on a floating benchmark interest rate. Payments received or made, including amortization of upfront payments/receipts, are recorded as realized gains or losses. During the term of the outstanding swap agreement, changes in the underlying value of the swap are recorded as unrealized gains or losses. For centrally cleared swaps, the daily change in valuation

78

Notes to Financial Statements (unaudited)(continued)

is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. The value of the swap contract is determined by changes in the relationship between two rates of interest. A Fund is exposed to credit loss in the event of non-performance by the swap contract counterparty. In the case of centrally cleared swap contracts, counterparty risk is minimal due to protections provided by the CCP. Risk may also arise from movements in interest rates.

(s)

Fair Value Measurements–Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below:

●	Level 1 –	unadjusted quoted prices in active markets for identical investments;
●	Level 2 –	other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and
●	Level 3 –	significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

A summary of inputs used in valuing each Fund’s investments and other financial instruments as of June 30, 2023 and, if applicable, Level 3 rollforwards for the six months then ended is included in each Fund’s Schedule of Investments.

Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

3. MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES  

Management Fee

The Company has a management agreement with Lord Abbett, pursuant to which Lord Abbett provides each Fund with investment management services and executive and other personnel, provides office space and pays for ordinary and necessary office and clerical expenses relating to research and statistical work and supervision of each Fund’s investment portfolio. The management fee is accrued daily and payable monthly.

79

Notes to Financial Statements (unaudited)(continued)

The management fee is based on each Fund’s average daily net assets at the following annual rates:

Emerging Markets Bond Fund
First $1 billion	.50	%
Over $1 million	.45	%
Emerging Markets Corporate Debt Fund
First $2 billion	.70	%
Next $3 billion	.65	%
Over $5 billion	.60	%
Global Bond Fund
First $3 billion	.43	%
Over $3 billion	.40	%

For the six months ended June 30, 2023, the effective management fee, net of any applicable waivers, was at the following annualized rate of each Fund’s average daily net assets:

	Net Effective Management Fee
Emerging Markets Bond Fund	.50%
Emerging Markets Corporate Debt Fund	.21%
Global Bond Fund	.00%

In addition, Lord Abbett provides certain administrative services to each Fund pursuant to an Administrative Services Agreement in return for a fee at an annual rate of .04% of each Fund’s average daily net assets. The fund administration fee is accrued daily and payable monthly. Lord Abbett voluntarily waived the following administration fees during the six months ended June 30, 2023.

Fund	Fund Administration Fee
Emerging Markets Bond Fund	$3,192
Emerging Markets Corporate Debt Fund	3,177
Global Bond Fund	6,463

For the six months ended June 30, 2023 and continuing through April 2024, Lord Abbett has contractually agreed to waive its fees and reimburse its expenses to the extent necessary to limit the total net annual operating expenses, excluding certain of the Funds’ expenses to the following annual rates:

	Effective May 1, 2023		Prior to May 1, 2023
	Classes*		Classes*
Fund	A, C, F, I, R3, R4, R5	F3 and R6	A, C, F, I, R3, R4, R5	F3 and R6
Emerging Markets Corporate Debt Fund	.85%	.70%	.85%	.71%
Global Bond Fund	.58%	.58%	.58%	.57%

* If applicable.

All contractual fee waivers and expense reimbursement agreements between the Funds and Lord Abbett may be terminated only upon the approval of the Board.

12b–1 Distribution Plan

Each Fund has adopted a distribution plan with respect to Class A, C, F, R3 and R4 shares pursuant to Rule 12b–1 under the Act, which provides for the payment of ongoing distribution and service

80

Notes to Financial Statements (unaudited)(continued)

fees to Lord Abbett Distributor LLC (the “Distributor”), an affiliate of Lord Abbett. The following annual rates have been authorized by the Board pursuant to the plan:

Fees*	Class A	Class C(1)	Class F(2)(3)	Class R3**	Class R4
Service	.15%	.25%	–	.25%	.25%
Distribution	.05%	.75%	.10%	.25%	–

*	The Funds may designate a portion of the aggregate fees attributable to service activities for purposes of calculating Financial Industry Regulatory Authority, Inc. sales charge limitations.
**	Prior to the sale of shares to unaffiliated investors, service and distribution fees were fully waived.
(1)	Each Fund’s Class C 12b-1 fee is a blended rate calculated based on 1.00% of the Fund’s average daily net assets attributable to Class C shares held for less than one year and .80% (.25% service, .55% distribution) of the Fund’s average daily net assets attributable to Class C shares held for one year or more. All Class C shareholders of the Funds will bear 12b-1 fees at the same rate.
(2)	The Class F share Rule 12b-1 fee may be designated as a service fee in limited circumstances as described in the Funds’ prospectus.
(3)	For the six months ended June 30, 2023 and continuing through April 30, 2024, the Distributor has contractually agreed to waive Emerging Markets Bond Fund’s and Global Bond Fund’s 0.10% Rule 12b-1 fee for Class F. These agreements may be terminated only by the Board.

Class F3, Class I, Class R5 and Class R6 shares do not have a distribution plan.

Commissions

Distributor received the following commissions on sales of shares of the Funds, after concessions were paid to authorized dealers, during the six months ended June 30, 2023:

	Distributor Commissions	Dealers’ Concessions
Emerging Markets Bond Fund	$  73	$   652
Emerging Markets Corporate Debt Fund	342	2,202
Global Bond Fund	–	–

Distributor received the following amount of CDSCs during the six months ended June 30, 2023:

	Class A	Class C
Emerging Markets Bond Fund	$1,177	$3
Emerging Markets Corporate Debt Fund	–	–
Global Bond Fund	–	–

Other Related Parties

As of June 30, 2023, the percentages of Emerging Markets Bond Fund’s outstanding shares owned by Lord Abbett Multi-Asset Balanced Opportunity Fund and Lord Abbett Multi-Asset Income Fund were 63% and 25% respectively.

One Director and certain of the Company’s officers have an interest in Lord Abbett.

4. DISTRIBUTIONS AND CAPITAL LOSS CARRYFORWARDS  

Dividends from net investment income, if any, are declared daily and paid monthly for Emerging Markets Bond Fund, Emerging Markets Corporate Debt Fund and Global Bond Fund. Taxable net realized gains from investment transactions, reduced by allowable capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amounts of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profits for tax purposes, are reported as a tax return of capital.

81

Notes to Financial Statements (unaudited)(continued)

The tax character of distributions paid during the six months ended June 30, 2023 and fiscal year ended December 31, 2022 was as follows:

	Emerging Markets Bond Fund				Emerging Markets Corporate Debt Fund
	Six Months Ended 6/30/2023 (unaudited)		Year Ended 12/31/2022		Six Months Ended 6/30/2023 (unaudited)		Year Ended 12/31/2022
Distributions paid from:
Ordinary income	$	3,038,982	$	7,998,546	$	1,061,026	$	3,112,518
Total distributions paid	$	3,038,982	$	7,998,546	$	1,061,026	$	3,112,518
		Global Bond Fund
	Six Months Ended 6/30/2023 (unaudited)		Year Ended 12/31/2022
Distributions paid from:
Ordinary income		$196,221		$189,409
Tax return of capital		–		125,016
Total distributions paid		$196,221		$314,425

As of December 31, 2022, the following funds had capital losses, which will carry forward indefinitely:

Emerging Markets Bond Fund	$	125,102,249
Emerging Markets Corporate Debt Fund		10,502,302
Global Bond Fund		1,324,790

As of June 30, 2023, the aggregate unrealized security gains and losses on investments and other financial instruments, if any, based on cost for U.S. federal income tax purposes were as follows:

	Emerging Markets Bond Fund		Emerging Markets Corporate Debt Fund
Tax cost	$142,176,272		$36,522,144
Gross unrealized gain	588,038		353,038
Gross unrealized loss	(23,357,187	)	(4,441,405	)
Net unrealized security gain/(loss)	$(22,769,149	)	$(4,088,367	)
	Global Bond Fund
Tax cost	$10,951,470
Gross unrealized gain	114,868
Gross unrealized loss	(786,978	)
Net unrealized security gain/(loss)	$    (672,110	)

The difference between book-basis and tax-basis unrealized gains (losses) is attributable to the tax treatment of other financial instruments, certain securities, premium amortization and wash sales.

5. PORTFOLIO SECURITIES TRANSACTIONS  

Purchases and sales of investment securities (excluding short-term investments) during the six months ended June 30, 2023 were as follows:

	U.S. Government Purchases*	Non-U.S. Government Purchases	U.S. Government Sales*	Non-U.S. Government Sales
Emerging Markets Bond Fund	$              –	$32,307,455	$              –	$37,001,124
Emerging Markets Corporate Debt Fund	–	17,530,727	–	30,828,030
Global Bond Fund	6,500,313	3,503,608	6,053,912	3,976,840

* Includes U.S. Government sponsored enterprises securities.

82

Notes to Financial Statements (unaudited)(continued)

6. DISCLOSURES ABOUT DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES 

Each Fund entered into forward foreign currency exchange contracts during the six months ended June 30, 2023 (as described in Note 2(g)). A forward foreign currency exchange contract reduces each Fund’s exposure to changes in the value of the currency it will deliver (or settle in cash) and increases its exposure to changes in the value of the currency it will receive (or settle in cash) for the duration of the contract. Each Fund’s use of forward foreign currency exchange contracts involves the risk that Lord Abbett will not accurately predict currency movements, and each Fund’s returns could be reduced as a result. Forward foreign currency exchange contracts are subject to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedged positions, that the U.S. dollar will decline relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly over short periods of time. Each Fund’s risk of loss from counterparty credit risk is the unrealized appreciation on forward foreign currency exchange contracts and deposits with brokers as collateral.

Each Fund entered into futures contracts during the six months ended June 30, 2023 (as described in Note 2(h)) to economically hedge against changes in interest rates. The Funds bear the risk of interest rates moving unexpectedly, in which case the Funds may not achieve the anticipated benefits of the futures contracts and realize a loss. There is minimal counterparty credit risk to the Funds since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees futures against default. There is minimal counterparty credit risk to each Fund since centrally cleared credit default swaps are traded through a central clearinghouse. As the counterparty to all centrally cleared credit default swaps, the clearinghouse guarantees credit default swaps against default.

Each Fund entered into credit default swap contracts during the six months ended June 30, 2023 (as described in Note 2(i)) to hedge credit risk. Credit default swap contracts involve the exchange of a fixed rate premium for protection against the loss in value of underlying securities within an index or the referenced obligation in the event of a defined credit event, such as payment default or bankruptcy. Under a credit default swap contract one party acts as a guarantor by receiving the fixed periodic payment in exchange for the commitment to purchase the underlying security at par or the referenced obligation if the defined credit event occurs. Upon the occurrence of a defined credit event, the difference between the value of the reference obligation and the swap contract’s notional amount is recorded as realized gain or loss on swap contracts in the Statements of Operations. Each Fund’s maximum risk of loss from counterparty risk, either as the protection seller or as the protection buyer, is the fair value of the contract. There is minimal counterparty credit risk to each Fund since centrally cleared credit default swap contracts are traded through a central clearinghouse. As the counterparty to all centrally cleared credit default swap contracts, the clearinghouse guarantees credit default swap contracts against default.

83

Notes to Financial Statements (unaudited)(continued)

As of June 30, 2023, each Fund had the following derivatives at fair value, grouped into appropriate risk categories that illustrate the Funds’ use of derivative instruments:

Emerging Markets Bond Fund
Asset Derivatives			Interest Rate Contracts		Foreign Currency Contracts
Futures Contracts(1)			$	229,030		–
Liability Derivatives
Forward Foreign Currency Exchange Contracts(2)				–	$	23,859
Futures Contracts(1)			$	155,384		–
Emerging Markets Corporate Debt Fund
Asset Derivatives			Interest Rate Contracts		Foreign Currency Contracts
Forward Foreign Currency Exchange Contracts(3)				–	$	226
Futures Contracts(1)			$	91,175		–
Liability Derivatives
Forward Foreign Currency Exchange Contracts(2)				–	$	12,240
Futures Contracts(1)			$	29,248		–
Global Bond Fund
Asset Derivatives	Interest Rate Contracts		Foreign Currency Contracts		Credit Contracts
Centrally Cleared Credit Default Swap Contracts(4)		–		–	$	5,865
Forward Foreign Currency Exchange Contracts(3)		–	$	13,632		–
Futures Contracts(1)	$	12,894		–		–
Liability Derivatives
Centrally Cleared Credit Default Swap Contracts(4)		–		–	$	9,549
Forward Foreign Currency Exchange Contracts(2)		–	$	100,620		–
Futures Contracts(1)	$	10,766		–		–

(1)	Statements of Assets and Liabilities location: Includes cumulative unrealized appreciation/depreciation of futures contracts as reported in the Schedule of Investments. Only the current day’s variation margin is reported within the Statements of Assets and Liabilities.
(2)	Statements of Assets and Liabilities location: Unrealized depreciation on forward foreign currency exchange contracts.
(3)	Statements of Assets and Liabilities location: Unrealized appreciation on forward foreign currency exchange contracts.
(4)	Statements of Assets and Liabilities location: Includes cumulative unrealized appreciation/depreciation of centrally cleared swap contracts as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities.

84

Notes to Financial Statements (unaudited)(continued)

Transactions in derivative investments for the six months ended June 30, 2023 were as follows:

Emerging Markets Bond Fund
	Inflation Linked/ Interest Rate Contracts			Foreign Currency Contracts			Credit Contracts
Net Realized Gain (Loss)
Credit Default Swap Contracts(1)		–			–		$	476
Forward Foreign Currency Exchange Contracts(2)		–		$	(23,883	)		–
Futures Contracts(3)	$	33,777			–			–
Net Change in Unrealized Appreciation/Depreciation
Forward Foreign Currency Exchange Contracts(4)		–		$	(9,339	)		–
Futures Contracts(5)	$	(121,892	)		–			–
Average Number of Contracts/Notional Amounts*
Credit Default Swap Contracts(6)		–			–		$	185,714
Forward Foreign Currency Exchange Contracts(6)		–		$	1,386,552			–
Futures Contracts(7)		334			–			–
Emerging Markets Corporate Debt Fund
	Inflation Linked/ Interest Rate Contracts			Foreign Currency Contracts			Credit Contracts
Net Realized Gain (Loss)
Credit Default Swap Contracts(1)		–			–		$	(29	)
Forward Foreign Currency Exchange Contracts(2)		–		$	(9,288	)		–
Futures Contracts(3)	$	(27,516	)		–			–
Net Change in Unrealized Appreciation/Depreciation
Forward Foreign Currency Exchange Contracts(4)		–		$	(9,227	)		–
Futures Contracts(5)	$	18,625			–			–
Average Number of Contracts/Notional Amounts*
Forward Foreign Currency Exchange Contracts(6)		–		$	570,174			–
Futures Contracts(7)		92			–			–
Global Bond Fund
	Inflation Linked/ Interest Rate Contracts			Foreign Currency Contracts			Credit Contracts
Net Realized Gain (Loss)
Credit Default Swap Contracts(1)		–			–		$	(303	)
Forward Foreign Currency Exchange Contracts(2)		–		$	(11,369	)		–
Futures Contracts(3)	$	(6,451	)		–			–
Net Change in Unrealized Appreciation/Depreciation
Credit Default Swap Contracts(8)		–			–		$	3,498
Forward Foreign Currency Exchange Contracts(4)		–		$	(145,589	)		–
Futures Contracts(5)	$	(18,974	)		–			–
Average Number of Contracts/Notional Amounts*
Credit Default Swap Contracts(6)		–			–		$	362,429
Forward Foreign Currency Exchange Contracts(6)		–		$	3,797,176			–
Futures Contracts(7)		12			–			–

*	Calculated based on the number of contracts or notional amounts for the six months ended June 30, 2023.
(1)	Statements of Operations location: Net realized gain (loss) on swap contracts.
(2)	Statements of Operations location: Net realized gain (loss) on forward foreign currency exchange contracts.
(3)	Statements of Operations location: Net realized gain (loss) on futures contracts.
(4)	Statements of Operations location: Net change in unrealized appreciation/depreciation on forward foreign currency exchange contracts.
(5)	Statements of Operations location: Net change in unrealized appreciation/depreciation on futures contracts.
(6)	Amount represents notional amounts in U.S. dollars.
(7)	Amount represents number of contracts.
(8)	Statements of Operations location: Net change in unrealized appreciation/depreciation on swap contracts.

85

Notes to Financial Statements (unaudited)(continued)

7. DISCLOSURES ABOUT OFFSETTING ASSETS AND LIABILITIES 

The Financial Accounting Standards Board requires disclosures intended to help better assess the effect or potential effect of offsetting arrangements on a fund’s financial position. The following tables illustrate gross and net information about recognized assets and liabilities eligible for offset in the Statements of Assets and Liabilities; and disclose such amounts subject to an enforceable master netting agreement or similar agreement, by the counterparty. A master netting agreement is an agreement between a fund and a counterparty which provides for the net settlement of amounts owed under all contracts traded under that agreement, as well as cash collateral, through a single payment by one party to the other in the event of default on or termination of any one contract. The Funds’ accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the master netting agreement does not result in an offset of reported amounts of financial assets and liabilities in the Statements of Assets and Liabilities across transactions between the Funds and the applicable counterparty:

Emerging Markets Bond Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities			Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Repurchase Agreements		$3,118,343		$	–		$3,118,343
Total		$3,118,343		$	–		$3,118,343

	Net Amount of Assets Presented			Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	in the Statement of Assets and Liabilities			Financial Instruments			Cash Collateral Received(a)			Securities Collateral Received(a)				Net Amount(b)
Fixed Income Clearing Corp.		$	3,118,343		$	–		$	–		$	(3,118,343	)		$	–
Total		$	3,118,343		$	–		$	–		$	(3,118,343	)		$	–

Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Assets and Liabilities			Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities
Forward Foreign Currency
Exchange Contracts		$23,859		$	–		$23,859
Total		$23,859		$	–		$23,859

Net Amounts of Liabilities Presented

Amounts Not Offset in the Statement of Assets and Liabilities

Counterparty

in the Statement of Assets and Liabilities

Financial Instruments

Cash Collateral Pledged(a)

Securities Collateral Pledged(a)

Net Amount(c)

Morgan Stanley

$23,859

$

–

$

–

$

–

$23,859

Total

$23,859

$

–

$

–

$

–

$23,859

Emerging Markets Corporate Debt Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities			Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Forward Foreign Currency
Exchange Contracts		$       226		$	–		$       226
Repurchase Agreements		720,747			–		720,747
Total		$720,973		$	–		$720,973

86

Notes to Financial Statements (unaudited)(continued)

Emerging Markets Corporate Debt Fund
	Net Amount of Assets Presented in			Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities			Financial Instruments				Cash Collateral Received(a)			Securities Collateral Received(a)				Net Amount(b)
Morgan Stanley		$	226		$	(226	)		$	–		$	–			$	–
Fixed Income Clearing Corp.			720,747			–				–			(720,747	)			–
Total		$	720,973		$	(226	)		$	–		$	(720,747	)		$	–

Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Assets and Liabilities			Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities
Forward Foreign Currency
Exchange Contracts		$12,240		$	–		$12,240
Total		$12,240		$	–		$12,240

	Net Amount of Liabilities Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Pledged(a)			Securities Collateral Pledged(a)			Net Amount(c)
Morgan Stanley		$12,240		$(226	)		$	–		$	–		$12,014
Total		$12,240		$(226	)		$	–		$	–		$12,014

Global Bond Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities			Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Forward Foreign Currency
Exchange Contracts		$ 13,632		$	–		$ 13,632
Repurchase Agreements		219,795			–		219,795
Total		$233,427		$	–		$233,427

	Net Amount of Assets Presented in			Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities			Financial Instruments				Cash Collateral Received(a)			Securities Collateral Received(a)				Net Amount(b)
Morgan Stanley		$	10,231		$	(7,984	)		$	–		$	–			$	2,247
State Street Bank and Trust			3,401			(3,401	)			–			–				–
Fixed Income Clearing Corp.			219,795			–				–			(219,795	)			–
Total		$	233,427		$	(11,385	)		$	–		$	(219,795	)		$	2,247

87

Notes to Financial Statements (unaudited)(continued)

Global Bond Fund
Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Assets and Liabilities			Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities
Forward Foreign Currency
Exchange Contracts		$100,620		$	–		$100,620
Total		$100,620		$	–		$100,620

	Net Amounts of Liabilities Presented in			Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities			Financial Instruments				Cash Collateral Pledged(a)			Securities Collateral Pledged(a)			Net Amount(c)
Goldman Sachs		$	1,506		$	–			$	–		$	–		$	1,506
J.P. Morgan			2,772			–				–			–			2,772
Morgan Stanley			7,984			(7,984	)			–			–			–
State Street Bank and Trust			66,109			(3,401	)			–			–			62,708
Toronto Dominion Bank			22,249			–				–			–			22,249
Total		$	100,620		$	(11,385	)		$	–		$	–		$	89,235

(a)	Collateral disclosed is limited to an amount not to exceed 100% of the net amount of assets (liabilities) presented in the Statements of Assets and Liabilities, for each respective counterparty.
(b)	Net amount represents the amount owed to the Fund by the counterparty as of June 30, 2023.
(c)	Net amount represents the amount owed by the Fund to the counterparty as of June 30, 2023.

8. DIRECTORS’ REMUNERATION 

The Company’s officers and one Director, who are associated with Lord Abbett, do not receive any compensation from the Company for serving in such capacities. Independent Directors’ fees are allocated among all Lord Abbett-sponsored funds based on the net assets of each fund. There is an equity-based plan available to all Independent Directors under which Independent Directors may elect to defer receipt of a portion of Directors’ fees. The deferred amounts are treated as though equivalent dollar amounts had been invested in the Funds. Such amounts and earnings accrued thereon are included in Directors’ fees in the Statements of Operations and in Directors’ fees payable in the Statements of Assets and Liabilities and are not deductible for U.S. federal income tax purposes until such amounts are paid.

9. EXPENSE REDUCTIONS 

The Company has entered into an arrangement with its prior transfer agent and its custodian, whereby credits realized as a result of uninvested cash balances are used to reduce a portion of each Fund’s expenses. The arrangement with the Funds’ prior transfer agent was discontinued effective March 6, 2023.

10. LINE OF CREDIT 

For the period ended June 30, 2023, the Funds and certain other funds managed by Lord Abbett (collectively, the “Participating Funds”) were party to a syndicated line of credit facility with various lenders for $1.625 billion (the “Syndicated Facility”) under which State Street Bank and Trust Company (“SSB”) participated as a lender and as agent for the lenders. The Participating Funds were subject to graduated borrowing limits of one-third of fund net assets (if fund net assets are less than $750 million), $250 million, $300 million, $700 million, or $1 billion, based on past borrowings and likelihood of future borrowings, among other factors.

88

Notes to Financial Statements (unaudited)(continued)

Effective August 3, 2023, the Participating Funds renewed the Syndicated Facility for $1.6 billion. The Participating Funds remain subject to the same graduated borrowing limits as before.

For the period ended June 30, 2023, the Participating Funds were also party to an additional uncommitted line of credit facility with SSB for $330 million (the “Bilateral Facility”). Under the Bilateral Facility, the Participating Funds were subject to graduated borrowing limits of one-third of fund net assets (if net assets are less than $750 million), or $250 million based on past borrowings and likelihood of future borrowings, among other factors.

Effective August 3, 2023, the Participating Funds renewed the Bilateral Facility in the same amount. The Participating Funds remain subject to the same graduated borrowing limits as before.

These credit facilities are to be used for temporary or emergency purposes as additional sources of liquidity to satisfy redemptions. For the six months ended June 30, 2023, the Funds did not utilize the Syndicated Facility or Bilateral Facility.

11. INTERFUND LENDING PROGRAM  

Pursuant to an exemptive order issued by the U.S. Securities and Exchange Commission (“SEC exemptive order”) certain registered open-end management investment companies managed by Lord Abbett, including each Fund, participate in a joint lending and borrowing program (the “Interfund Lending Program”). The SEC exemptive order allows the funds that participate in the Interfund Lending Program to borrow money from and lend money to each other for temporary or emergency purposes subject to the limitations and conditions.

For the six months ended June 30, 2023, the Funds did not participate as a borrower or lender in the Interfund Lending Program.

12. CUSTODIAN AND ACCOUNTING AGENT  

SSB is the Company’s custodian and accounting agent. SSB performs custodial, accounting and recordkeeping functions relating to portfolio transactions and calculating each Fund’s net asset value.

13. SECURITIES LENDING AGREEMENT  

The Funds have established a securities lending agreement with Citibank, N.A. for the lending of securities to qualified brokers in exchange for securities or cash collateral equal to at least the market value of securities loaned, plus interest, if applicable. Cash collateral is invested in an approved money market fund. In accordance with the Funds’ securities lending agreement, the market value of securities on loan is determined each day at the close of business and any additional collateral required to cover the value of securities on loan is delivered to the Funds on the next business day. As with other extensions of credit, the Funds may experience a delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds or the borrower becomes insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan. Any income earned from securities lending is included in Securities lending net income on each Fund’s Statement of Operations.

The initial collateral received by the Funds is required to have a value equal to at least 100% of the market value of the securities loaned. The collateral must be marked-to-market daily to cover increases in the market value of the securities loaned (or potentially a decline in the value of the collateral). In general, the risk of borrower default will be borne by Citibank, N.A.; the Funds will bear the risk of loss with respect to the investment of the cash collateral. The advantage of such loans is that the Funds continue to receive income on loaned securities while receiving a portion of any securities lending fees and earning returns on the cash amounts which may be reinvested for the purchase of investments in securities.

As of June 30, 2023, the Funds did not loan any securities.

89

Notes to Financial Statements (unaudited)(continued)

14. INVESTMENT RISKS  

Each Fund is subject to the risks of investing in securities that are issued by non-U.S. entities, the risks of investing in derivatives, liquidity risk, and the risks from leverage.

Certain instruments in which the Funds may invest have historically relied upon LIBOR. As of June 30, 2023, the administrator of LIBOR ceased publication of U.S. dollar LIBOR settings. The LIBOR transition could have adverse impacts on newly issued financial instruments and existing financial instruments which referenced LIBOR and lead to significant short-term and long-term uncertainty and market instability. Foreign securities may pose greater risks than domestic securities, including greater price fluctuations, less government regulation, higher transaction costs and other costs, and delays in settlement to the extent they are traded on non-U.S. exchanges or markets. Foreign securities may also be subject to inadequate exchange control regulations and the imposition of economic sanctions or other government restrictions. These risks generally are greater for emerging markets securities. Foreign investments also may be affected by changes in currency rates or currency controls.

The risks associated with derivatives may be different from and greater than the risks associated with directly investing in securities. Derivatives are subject to risks such as liquidity risk, leveraging risk, interest rate risk, market risk, and credit risk. Derivatives also involve the risk of mispricing or improper valuation and the risk that changes in the value of the derivative may not correlate perfectly with the value of the underlying asset, rate, or index. Whether a Fund’s use of derivatives is successful will depend on, among other things, the Fund’s ability to correctly forecast market movements, changes in foreign exchange and interest rates, and other factors. Losses may also arise from the failure of a derivative counterparty to meet its contractual obligations. If a Fund incorrectly forecasts these and other factors, its performance could suffer. A Fund’s use of derivatives could result in a loss exceeding the amount of the Fund’s investment in these instruments.

Each Fund may invest in swap contracts. Swap contracts are bilateral agreements between a fund and its counterparty. Each party is exposed to the risk of default by the other. In addition, swap contracts may involve a small investment of cash compared to the risk assumed, with the result that small changes may produce disproportionate and substantial gains or losses to a Fund. Each Fund may invest in convertible securities, which have both equity and fixed income risk characteristics. Generally, convertible securities offer lower interest or dividend yields than nonconvertible securities of similar quality and less potential for gains or capital appreciation in a rising equity securities market than equity securities. They tend to be more volatile than other fixed income securities and the market for convertible securities may be less liquid than markets for stocks or bonds. A significant portion of convertible securities have below investment grade credit ratings and are subject to increased credit and liquidity risks.

Each Fund may invest in credit default swap and interest rate swap contracts. Such contracts are subject to the risk that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements. Credit default swaps are subject to the risk that Lord Abbett does not correctly predict the creditworthiness of the issuers of the reference obligation on which the swap is based. Interest rate swaps are subject to the risk that Lord Abbett does not correctly anticipate changes in interest rates.

90

Notes to Financial Statements (unaudited)(continued)

Each Fund may invest in senior loans, which are subject to increased credit and liquidity risks. Senior loans are business loans made to borrowers that may be U.S. or foreign corporations, partnerships, or other business entities. The senior loans in which a Fund invests may consist primarily of senior loans that are rated below investment grade or, if unrated, deemed by Lord Abbett to be equivalent to below investment grade securities. Below investment grade senior loans, as in the case of high yield debt securities, or junk bonds, are usually more credit sensitive than interest rate sensitive, although the value of these instruments may be impacted by broader interest rate swings in the overall fixed income market. In addition, senior loans may be subject to structural subordination.

Illiquid securities may lower a Fund’s returns since it may be unable to sell these securities at its desired time or price. To the extent illiquid securities can be sold, a Fund may have to do so at disadvantageous prices in order to meet requests for the redemption of Fund shares.

Leverage, including borrowing, may increase volatility in a Fund by magnifying the effect of changes in the value of each Fund’s holdings. The use of leverage may cause investors in a Fund to lose more money in adverse environments than would be the case in the absence of leverage. Each Fund is subject to the general risks and considerations associated with investing in debt securities and to the changing prospects of individual companies and/or sectors in which a Fund invests, including interest rate risk. When interest rates rise, the prices of debt securities and an investment in a Fund are likely to decline. In times of economic uncertainty, high-yield debt securities (“lower-rated bonds” or “junk bonds”) may decline in price, even when interest rates are falling. There is also the risk that an issuer of a debt security will fail to make timely payments of principal or interest to a Fund, a risk that is greater with junk bonds. A default, or concerns in the market about an increase in risk of default, may result in losses to a Fund. High-yield securities are subject to greater price fluctuations, as well as additional risks. The market for below investment grade securities may be less liquid, which may make such securities more difficult to sell at an acceptable price, especially during periods of financial distress, increased market volatility, or significant market decline.

Each Fund is subject to the risk of investing in securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities (such as the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”), or the Federal Home Loan Mortgage Corporation (“Freddie Mac”). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. Government-related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. Government and no assurance can be given that the U.S. Government would provide financial support to its agencies and instrumentalities if not required to do so by law. Consequently, each Fund may be required to look principally to the agency issuing or guaranteeing the obligation. The mortgage-related and asset-backed securities in which a Fund may invest may be particularly sensitive to changes in prevailing interest rates, economic conditions, including delinquencies and/or defaults. These changes can affect the value, income and/or liquidity of such positions. When interest rates are declining, the value of these securities with prepayment features may not increase as much as other fixed income securities. Early principal repayment may deprive a Fund of income payments above current market rates. Alternatively, rising interest rates may cause payments to occur at a slower-than-expected rate, extending the duration of a security and typically reducing its value. The payment rate will thus affect the price and volatility of a mortgage related security.

The cost of a Fund’s potential use of forward foreign currency exchange contracts varies with factors such as the currencies involved, the length of the contract period, and the market

91

Notes to Financial Statements (unaudited)(continued)

conditions prevailing. Foreign currency exchange rates may fluctuate significantly over short periods of time. Each Fund’s use of currency-related transactions involves the risk that Lord Abbett will not accurately predict currency movements, and each Fund’s returns could be reduced as a result. A decline in the value of foreign currencies relative to the U.S. dollar will reduce the value of securities held by the Funds that are denominated in those currencies. The securities markets of developing or emerging countries tend to be more vulnerable to economic, political and social instability, less liquid, are especially subject to greater price volatility, have a smaller market capitalization, have less government regulation and may not be subject to as extensive and frequent accounting, financial, and other reporting requirements as securities issued in more developed countries.

Bonds issued or guaranteed by foreign governments and governmental entities (commonly referred to as “sovereign debt”) are subject to the risk that such governments or entities are unable or unwilling to make interest payments and/or repay the principal owed. Emerging Markets Corporate Debt Fund may have limited recourse in such instances.

The Funds believe that their investment strategies with respect to foreign currencies will generate qualifying income under current U.S. federal income tax law. However, there can be no assurance that the U.S. Treasury Department will not issue regulations in the future (possibly with retroactive effect) that would treat some or all of each Fund’s foreign currency gains as nonqualifying income.

Geopolitical and other events (e.g., wars, terrorism, natural disasters, epidemics or pandemics) may disrupt securities markets and adversely affect global economies and markets, thereby decreasing the value of each Fund’s investments. Market disruptions can also prevent each Fund from implementing its investment strategies and achieving its investment objective.

In March 2023, the shut-down of certain financial institutions raised economic concerns over disruption in the U.S. banking system. There can be no certainty that the actions taken by the U.S. government to strengthen public confidence in the U.S. banking system will be effective in mitigating the effects of financial institution failures on the economy and restoring public confidence in the U.S. banking system objective.

The impact of the COVID-19 outbreak, and the effects of other infectious illness outbreaks, epidemics, or pandemics, may be short term or may continue for an extended period of time. For example, a global pandemic or other widespread health crises could negatively affect the global economy, the economies of individual countries, and the financial performance of individual issuers, sectors, industries, asset classes, and markets in significant and unforeseen ways. Health crises caused by outbreaks of disease may also exacerbate other pre-existing political, social, and economic risks in certain countries or globally. The foregoing could disrupt the operations of each Fund and its service providers, adversely affect the value and liquidity of each Fund’s investments, and negatively impact each Fund’s performance and your investment in each Fund.

92

Notes to Financial Statements (unaudited)(continued)

15. SUMMARY OF CAPITAL TRANSACTIONS  

Transactions in shares of capital stock were as follows:

Emerging Markets Bond Fund	Six Months Ended June 30, 2023 (unaudited				)	Year Ended December 31, 2022
Class A Shares	Shares			Amount		Shares			Amount
Shares sold	802,827		$	3,252,213		990,641		$	3,867,992
Reinvestment of distributions	47,325			188,923		107,729			443,547
Shares reacquired	(562,464	)		(2,280,809	)	(1,756,876	)		(7,263,366	)
Increase (decrease)	287,688		$	1,160,327		(658,506	)	$	(2,951,827	)
Class C Shares
Shares sold	63,580		$	255,096		12,719		$	60,680
Reinvestment of distributions	2,746			11,033		7,499			30,993
Shares reacquired	(52,675	)		(212,757	)	(65,577	)		(269,078	)
Increase (decrease)	13,651		$	53,372		(45,359	)	$	(177,405	)
Class F Shares
Shares sold	4,412		$	17,844		91,611		$	366,261
Reinvestment of distributions	3,478			13,934		16,642			69,410
Shares reacquired	(112,724	)		(452,755	)	(393,548	)		(1,656,034	)
Decrease	(104,834	)	$	(420,977	)	(285,295	)	$	(1,220,363	)
Class F3 Shares
Shares sold	11,907		$	47,837		15,841		$	65,669
Reinvestment of distributions	3,101			12,382		11,813			48,988
Shares reacquired	(87,909	)		(356,535	)	(140,172	)		(589,052	)
Decrease	(72,901	)	$	(296,316	)	(112,518	)	$	(474,395	)
Class I Shares
Shares sold	198,310		$	793,215		204,829		$	871,337
Reinvestment of distributions	693,655			2,766,507		1,787,074			7,344,061
Shares reacquired	(1,907,375	)		(7,589,886	)	(12,130,872	)		(48,091,041	)
Decrease	(1,015,410	)	$	(4,030,164	)	(10,138,969	)	$	(39,875,643	)
Class R3 Shares
Shares sold	11,082		$	44,266		4,824		$	20,020
Reinvestment of distributions	810			3,229		1,561			6,434
Shares reacquired	(5,334	)		(21,582	)	(14,785	)		(63,494	)
Increase (decrease)	6,558		$	25,913		(8,400	)	$	(37,040	)
Class R4 Shares
Shares sold	1,365		$	5,482		5,380		$	22,368
Reinvestment of distributions	227			903		629			2,591
Shares reacquired	(521	)		(2,085	)	(10,166	)		(40,187	)
Increase (decrease)	1,071		$	4,300		(4,157	)	$	(15,228	)
Class R6 Shares
Shares sold	4,096		$	16,328		39,182		$	161,210
Reinvestment of distributions	427			1,704		786			3,212
Shares reacquired	(36,313	)		(143,807	)	(3,620	)		(13,432	)
Increase (decrease)	(31,790	)	$	(125,775	)	36,348		$	150,990

93

Notes to Financial Statements (unaudited)(continued)

Emerging Markets Corporate Debt Fund	Six Months Ended June 30, 2023 (unaudited				)	Year Ended December 31, 2022
Class A Shares	Shares			Amount		Shares			Amount
Shares sold	72,804		$	940,515		36,376		$	488,196
Reinvestment of distributions	11,833			152,419		27,493			360,604
Shares reacquired	(111,815	)		(1,443,814	)	(206,199	)		(2,674,749	)
Decrease	(27,178	)	$	(350,880	)	(142,330	)	$	(1,825,949	)
Class C Shares
Shares sold	12,327		$	160,512		15,954		$	202,602
Reinvestment of distributions	2,550			32,829		4,445			58,071
Shares reacquired	(5,086	)		(65,954	)	(18,309	)		(239,672	)
Increase	9,791		$	127,387		2,090		$	21,001
Class F Shares
Shares sold	223,249		$	2,934,739		1,020,914		$	13,899,730
Reinvestment of distributions	15,505			201,195		140,017			1,859,680
Shares reacquired	(1,574,551	)		(20,375,698	)	(3,697,362	)		(48,023,200	)
Decrease	(1,335,797	)	$	(17,239,764	)	(2,536,431	)	$	(32,263,790	)
Class I Shares
Shares sold	1,907,387		$	24,670,358		1,664,516		$	22,839,894
Reinvestment of distributions	51,021			654,614		62,663			807,799
Shares reacquired	(1,770,157	)		(22,798,944	)	(589,968	)		(7,558,670	)
Increase	188,251		$	2,526,028		1,137,211		$	16,089,023
Class R3 Shares
Shares sold	279		$	3,602		417		$	5,624
Reinvestment of distributions	25			326		182			2,427
Shares reacquired	(32	)		(412	)	(5,442	)		(66,753	)
Increase (decrease)	272		$	3,516		(4,843	)	$	(58,702	)
Class R4 Shares
Shares sold	15		$	190		64		$	883
Reinvestment of distributions	1			10		5			69
Shares reacquired	(27	)		(346	)	(591	)		(8,003	)
Decrease	(11	)	$	(146	)	(522	)	$	(7,051	)
Class R5 Shares
Shares sold	786		$	10,050		1		$	–
Reinvestment of distributions	11			146		62			815
Shares reacquired	(1,341	)		(17,071	)	(6	)		(79	)
Increase (decrease)	(544	)	$	(6,875	)	57		$	736
Class R6 Shares
Shares sold	8,569		$	110,199		16,136		$	213,149
Reinvestment of distributions	637			8,205		903			11,621
Shares reacquired	(13,843	)		(178,867	)	(2,250	)		(30,865	)
Increase (decrease)	(4,637	)	$	(60,463	)	14,789		$	193,905

94

Notes to Financial Statements (unaudited)(concluded)

Global Bond Fund	Six Months Ended June 30, 2023 (unaudited				)	Year Ended December 31, 2022
Class A Shares	Shares			Amount		Shares			Amount
Shares sold	13,542		$	110,170		15,601		$	129,798
Reinvestment of distributions	1,516			12,324		2,783			23,360
Shares reacquired	(1,508	)		(12,504	)	(31,082	)		(251,058	)
Increase (decrease)	13,550		$	109,990		(12,698	)	$	(97,900	)
Class C Shares
Shares sold	–		$	–		–		$	–
Reinvestment of distributions	52			431		104			890
Shares reacquired	–			–		(4,057	)		(35,454	)
Increase (decrease)	52		$	431		(3,953	)	$	(34,564	)
Class F Shares
Shares sold	62		$	500		1,748		$	16,210
Reinvestment of distributions	13			110		115			965
Shares reacquired	(3,834	)		(31,677	)	(1,596	)		(14,629	)
Increase (decrease)	(3,759	)	$	(31,067	)	267		$	2,546
Class I Shares
Shares sold	4,372		$	35,986		–		$	–
Reinvestment of distributions	68			548		–			–
Shares reacquired	(7	)		(52	)	–			–
Increase	4,433		$	36,482		–		$	–
Class R3 Shares
Shares sold	186		$	1,520		3,904		$	35,382
Reinvestment of distributions	78			638		106			885
Shares reacquired	(96	)		(781	)	(3,074	)		(28,066	)
Increase	168		$	1,377		936		$	8,201
Class R6 Shares
Shares sold	1,399		$	11,406		3,459		$	28,437
Reinvestment of distributions	145			1,176		214			1,797
Shares reacquired	(403	)		(3,244	)	(382	)		(3,138	)
Increase	1,141		$	9,338		3,291		$	27,096

95

Approval of Advisory Contract

The Board, including all of the Directors who are not “interested persons” of the Company or of Lord Abbett, as defined in the Investment Company Act of 1940, as amended (the “Independent Directors”), annually considers whether to approve the continuation of the existing management agreement between each Fund and Lord Abbett (the “Agreement”). In connection with its most recent approval, the Board reviewed materials relating specifically to the Agreement, as well as numerous materials received throughout the course of the year, including information about each Fund’s investment performance compared to the performance of an appropriate benchmark. Before making its decision as to each Fund, the Board had the opportunity to ask questions and request further information, taking into account its knowledge of Lord Abbett gained through its meetings and discussions. The Independent Directors also met with their independent legal counsel in various private sessions at which no representatives of management were present.

The materials received by the Board as to each Fund included, but were not limited to: (1) information provided by Broadridge Financial Solutions (“Broadridge”) regarding the investment performance of the Fund compared to the investment performance of certain funds with similar investment styles as determined by Broadridge, based, in part, on the Fund’s Morningstar category (the “performance peer group”), and the investment performance of an appropriate benchmark; (2) information provided by Broadridge regarding the expense ratios, contractual and actual management fee rates, and other expense components for the Fund and certain funds in the same Morningstar category, with generally the same or similar share classes and operational characteristics, including asset size (the “expense peer group”); (3) certain supplemental investment performance information provided by Lord Abbett; (4) information provided by Lord Abbett on the expense ratios, management fee rates, and other expense components for the Fund; (5) sales and redemption information for the Fund; (6) information regarding Lord Abbett’s financial condition; (7) an analysis of the relative profitability to Lord Abbett of providing management and administrative services to the Fund; (8) information provided by Lord Abbett regarding the investment management fee schedules for Lord Abbett’s other advisory clients maintaining accounts with a similar investment strategy as the Fund (in the case of Emerging Markets Corporate Debt Fund); and (9) information regarding the personnel and other resources devoted by Lord Abbett to managing the Fund.

Investment Management and Related Services Generally. The Board considered the services provided by Lord Abbett to each Fund, including investment research, portfolio management, and trading, and Lord Abbett’s commitment to compliance with all applicable legal requirements. The Board also observed that Lord Abbett was solely engaged in the investment management business and accordingly did not experience the conflicts of interest that may result from being engaged in other lines of business. The Board considered the investment advisory services provided by Lord Abbett to other clients, the fees charged for the services, and the differences in the nature of the services provided to each Fund and other Lord Abbett Funds, on the one hand, and the services provided to other clients, on the other. After reviewing these and related factors, the Board concluded that each Fund was likely to continue to benefit from the nature, extent and quality of the investment services provided by Lord Abbett under the Agreement.

Investment Performance. The Board reviewed each Fund’s investment performance in relation to that of its performance peer group and an appropriate benchmark as of various periods ended June 30, 2022. As to Emerging Markets Bond Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-, three-, and five-year periods and below the median of the performance peer group for the ten-year period. As to Emerging Markets Corporate Debt Fund, the Board observed that the Fund’s investment

96

Approval of Advisory Contract (continued)

performance was above the median of the performance peer group for the one- and three-year periods and equal to the median of the performance peer group for the five-year period. As to Global Bond Fund, the Board observed that the Fund’s investment performance was equal to the median of the performance peer group for the one-year period and below the median of the performance peer group for the three-year period. The Board also considered Lord Abbett’s performance and reputation generally, the performance of other Lord Abbett-managed funds overseen by the Board, and the willingness of Lord Abbett to take steps intended to improve performance when appropriate. After reviewing these and other factors, including those described below, the Board concluded that each Fund’s Agreement should be continued.

Lord Abbett’s Personnel and Methods. The Board considered the qualifications of the personnel providing investment management services to each Fund, in light of its investment objective and discipline, and other services provided to each Fund by Lord Abbett. Among other things, the Board considered the size, experience, and turnover of Lord Abbett’s staff, Lord Abbett’s investment methodology and philosophy, and Lord Abbett’s approach to recruiting, training, and retaining personnel.

Nature and Quality of Other Services. The Board considered the nature, quality, and extent of compliance, administrative, and other services performed by Lord Abbett and the nature and extent of Lord Abbett’s supervision of third party service providers, including each Fund’s transfer agent and custodian.

Expenses. The Board considered the expense level of each Fund, including the contractual and actual management fee rates, and the expense levels of the Fund’s expense peer group. It also considered how each of the expense level and the actual management fee rates of each Fund related to those of the expense peer group and the amount and nature of the fees paid by shareholders. As to each of the Emerging Markets Bond Fund and the Global Bond Fund, the Board observed that the net total expense ratio and the actual management fee of the Fund were both below the median of the expense peer group. As to the Emerging Markets Corporate Debt Fund, the Board observed that the net total expense ratio of the Fund was equal to the median of the expense peer group and that the actual management fee of the Fund was below the median of the expense peer group. After reviewing these and related factors, the Board concluded, within the context of its overall approval of the Agreement, that the management fees paid by each Fund were reasonable in light of all of the factors it considered, including the nature, quality and extent of services provided by Lord Abbett.

Profitability. As to each Fund, the Board considered the level of Lord Abbett’s operating margin in managing the Fund, including a review of Lord Abbett’s methodology for allocating its costs to its management of the Fund. It considered whether each Fund was profitable to Lord Abbett in connection with the Fund’s operation, including the fee that Lord Abbett receives from the Fund for providing administrative services to the Fund. The Board considered Lord Abbett’s profit margins excluding Lord Abbett’s marketing and distribution expenses. The Board also considered Lord Abbett’s profit margins, without those exclusions, in comparison with available industry data and how those profit margins could affect Lord Abbett’s ability to recruit and retain personnel. The Board recognized that Lord Abbett’s overall profitability was a factor in enabling it to attract and retain qualified personnel to provide services to each Fund. After reviewing these and related factors, the Board concluded, within the context of its overall approval of the Agreement, that Lord Abbett’s profitability with respect to each Fund was not excessive.

97

Approval of Advisory Contract (concluded)

Economies of Scale. As to each Fund, the Board considered the extent to which there had been economies of scale in managing the Fund, whether the Fund’s shareholders had appropriately benefited from such economies of scale, and whether there was potential for realization of any further economies of scale. The Board also considered information provided by Lord Abbett regarding how it shares any potential economies of scale through its investments in its businesses supporting the Funds. The Board also considered each Fund’s existing management fee schedule, with one or more contractual breakpoints in the level of management fee, and with respect to each of the Emerging Markets Corporate Debt Fund and the Global Bond Fund, the Fund’s expense limitation agreement. Based on these considerations, the Board concluded that any economies of scale were adequately addressed in respect of each Fund.

Other Benefits to Lord Abbett. As to each Fund, the Board considered the amount and nature of the fees paid by the Fund and the Fund’s shareholders to Lord Abbett and the Distributor for services other than investment advisory services, such as the fee that Lord Abbett receives from each Fund for providing administrative services to the Fund. The Board also considered the revenues and profitability of Lord Abbett’s investment advisory business apart from its mutual fund business, and the intangible benefits enjoyed by Lord Abbett by virtue of its relationship with each Fund. The Board observed that the Distributor receives 12b-1 fees from certain of the Lord Abbett Funds as to shares held in accounts for which there is no other broker of record, may retain a portion of the 12b-1 fees it receives, and receives a portion of the sales charges on sales and redemptions of some classes of shares of the Lord Abbett Funds. In addition, the Board observed that Lord Abbett accrues certain benefits for its business of providing investment advice to clients other than the Lord Abbett Funds, but that business also benefits the Funds. The Board also noted that Lord Abbett, as disclosed in the prospectus of each Fund, has entered into revenue sharing arrangements with certain entities that distribute shares of the Lord Abbett Funds. The Board also took into consideration the investment research that Lord Abbett receives as a result of client brokerage transactions.

Alternative Arrangements. As to each Fund, the Board considered whether, instead of approving continuation of the Agreement, it might be in the best interests of the Fund to implement one or more alternative arrangements, such as continuing to employ Lord Abbett, but on different terms. After considering all of the relevant factors, the Board unanimously found that continuation of the Agreement was in the best interests of each Fund and its shareholders and voted unanimously to approve the continuation of the Agreement on behalf of each Fund. As to each Fund, in considering whether to approve the continuation of the Agreement, the Board did not identify any single factor as paramount or controlling. Individual Directors may have evaluated the information presented differently from one another, giving different weights to various factors. This summary does not discuss in detail all matters considered.

98

Liquidity Risk Management Program

Pursuant to Rule 22e-4 under the 1940 Act, each Fund has adopted a Liquidity Risk Management Program and Policy (“Program”). The Program is designed to assess, manage and periodically review each Fund’s liquidity risk. Liquidity risk is defined under Rule 22e-4 as the risk that each Fund could not meet redemption requests without significant dilution of remaining investors’ interests in the Fund. The Board has appointed Lord Abbett as the administrator for each Fund’s Program. At the May 17, 2023 meeting, Lord Abbett provided the Board with a report addressing the operation of the Program and assessing its adequacy and effectiveness of implementation for the period April 1, 2022 through March 31, 2023. Lord Abbett reported that the Program operated effectively during the period. In particular, Lord Abbett reported that: no Fund breached its 15% limit on illiquid investments at any point during the period and all regulatory reporting related to Rule 22e-4 was completed on time and without issue during the period. There can be no assurance that the Program will achieve its objectives in the future. Please refer to the Funds’ prospectus for more information regarding each Fund’s exposure to liquidity risk and other principal risks to which an investment in each Fund may be subject.

Householding

The Company has adopted a policy that allows it to send only one copy of the Fund’s prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same “household.” This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be “householded,” please call Lord Abbett at 888-522-2388 or send a written request with your name, the name of your fund or funds and your account number or numbers to Lord Abbett Funds Service Center, P.O. Box 534489, Pittsburgh, PA 15253-4489 (regular mail) or 500 Ross Street 154-0520, Attention: 534489, Pittsburgh, PA 15262 (overnight mail).

Proxy Voting Policies, Procedures and Records

A description of the policies and procedures that Lord Abbett uses to vote proxies related to each Fund’s portfolio securities, and information on how Lord Abbett voted each Fund’s proxies during the 12-month period ended June 30 are available without charge, upon request, (i) by calling 888-522-2388; (ii) on Lord Abbett’s website at www.lordabbett.com; and (iii) on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters as an attachment to Form N-PORT. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and may be available by calling Lord Abbett at 888-522-2388.

99

 

 

This report, when not used for the general information of shareholders of the Fund, is to be distributed only if preceded or accompanied by a current fund prospectus.	Lord Abbett Global Fund, Inc.
	Lord Abbett Emerging Markets Bond Fund
	Lord Abbett Emerging Markets Corporate Debt Fund
Lord Abbett mutual fund shares are distributed by LORD ABBETT DISTRIBUTOR LLC.	Lord Abbett Global Bond Fund	LAGF-3 (08/23)

Item 2: Code of Ethics.

Not applicable.

Item 3: Audit Committee Financial Expert.

Not applicable.

Item 4: Principal Accountant Fees and Services.

Not applicable.

Item 5: Audit Committee of Listed Registrants.

Not applicable.

Item 6: Investments.

The Schedule of Investments is included as part of the Reports to Shareholders under Item 1.

Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8: Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9: Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10: Submission of Matters to a Vote of Security Holders.

Not applicable.

Item 11: Controls and Procedures.

(a) The principal executive officer and principal financial & accounting officer have concluded as of a date within 90 days of the filing date of this report, based on their evaluation of the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940), that the design of such procedures is effective to provide reasonable assurance that material information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13: Exhibits.

(a)(1)	Code of Ethics. Not applicable.
(a)(2)	Certification of each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2 under the Investment Company Act of 1940 is attached hereto as a part of EX-99.CERT.
(b)	Certification of each principal executive officer and principal financial officer of the Registrant as required by Section 906 of the Sarbanes-Oxley Act of 2002 is provided as a part of EX-99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

LORD ABBETT GLOBAL FUND, INC.

	By:	/s/ Douglas B. Sieg
		Douglas B. Sieg
		President and Chief Executive Officer
Date: August 28, 2023

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

	By:	/s/ Douglas B. Sieg
		Douglas B. Sieg
		President and Chief Executive Officer
Date: August 28, 2023

	By:	/s/ Michael J. Hebert
		Michael J. Hebert
		Chief Financial Officer and Treasurer
Date: August 28, 2023