Balanced Strategy Fund (LABFX) - Class A

Important Information
Maximum Offering Price (MOP) - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.
Net Asset Value (NAV) - Returns shown at net asset value have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.
Returns shown at less than a year reflect aggregate total returns.
Instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

Class A- Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity and strategic allocation funds, 4.75% for Lord Abbett Bond Debenture Fund, and 2.25% for all tax-free income funds and taxable fixed income funds (except for Lord Abbett Bond Debenture Fund). There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

Lipper Category Average reflects the average expenses of Class A shares of all funds within this category based on Lipper data available.

The Fund invests all of its net assets directly in the underlying funds. The percentages shown are based on individual securities owned in one or more of the underlying funds. The Fund's portfolio is actively managed and therefore, its percentage allocations may change from time to time. Holdings are for informational purposes only and are not a recommendation to buy, sell, or hold any security.

 

A Note about Risk: The Fund invests in underlying funds that may engage in a variety of investment strategies involving certain risks; this fund of funds may be subject to those particular risks of the underlying funds in proportion to which the Fund invests in them. Performance may be lower than the performance of the asset class that they were selected to represent. Because the Lord Abbett Balanced Strategy Fund is a balanced allocation among fixed-income funds and equity funds, it will be affected by risks associated with equity and fixed-income investments. The value of the underlying funds will fluctuate in response to various market and economic factors related to the equity and fixed-income markets, as well as the financial condition and prospects of issuers in which the underlying funds invest. Investing internationally involves risks not associated with investing solely in the United States, such as currency fluctuation, political risk, differences in accounting and the limited availability of information. High yield securities, sometimes called junk bonds, carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. These factors can affect Fund performance.

Expense Ratio: Reflects expenses for fiscal year ended 11/30/2011 and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

Expense Ratio Details
The net expense ratio takes into account a contractual management fee waiver agreement through 03/31/2014. For periods when the waiver was in place, the Fund benefited by not bearing these expenses. Without such fee waiver, performance would have been lower.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Expense ratio: Lipper category average reflects the average expenses of Class A shares of all funds with in the peer group based on Lipper data available.

¹ The Fund’s dividend yield is shown without sales charges (at NAV) and with maximum sales charges (at MOP). The Fund’s dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

² The Fund’s unsubsidized dividend yield is shown without sales charges (at NAV) and with maximum sales charges (at MOP). The Fund’s unsubsidized dividend yield reflects what the yield would have been without the affect of fee waivers or expense limitation arrangements.