Bond Debenture Fund (LBNDX) - 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.

A Note about Risk: The Fund is subject to the general risks and considerations associated with investing in debt securities. The value of your investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Longer-term debt securities are usually more sensitive to interest-rate changes; the longer the maturity of a security, the greater the effect a change in interest rates is likely to have on its price. The Fund may make substantial investments in high-yield debt securities and may invest in senior loans which may be primarily below-investment-grade. High-yield securities, sometimes called junk bonds, carry increased risks of price volatility, illiquidity, and the possibility of default in timely payment of interest and expenses. These factors can affect Fund performance.

Expense Ratio: Reflects expenses for fiscal year ended 12/31/2011 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.

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.