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Classic Stock Fund (LRLCX) - Class A

Fund Finder

What is the Classic Stock Fund?

Goal & Strategy

The goal of this Fund is long-term growth of capital through investing in stocks of large U.S. and multinational companies. This Fund seeks established companies with identifiable catalysts for superior future earnings growth.

Fund Basics

 
Ticker LRLCX
CUSIP 543913107
Fund Number 46
Inception Date 06/03/1992
YTD Returns at NAV (as of 06/19/2013) 14.07%
Dividend Frequency Annually
Expense Ratio (as of 05/31/2013)
Gross 1.26%
Net 0.98%
Lipper Category Avg. 1.20%
Total Net Assets (as of 05/31/2013) $812.90 M
Number of Holdings (as of 05/31/2013) 125
Minimum Initial Investment $1,000 +
Maximum Offering Price (MOP) - Returns with sales charges reflect a maximum sales charge of 5.75%.
Yield(as of 06/19/2013)
12-Month Dividend Yield Subsidized1 Unsubsidized2
NAV 1.07% 0.79%
MOP 1.01% 0.75%
30-Day Standardized Yield (as of 05/31/2013) 0.76%

Price(as of 06/19/2013)
  Price ($) Change ($) Change (%)
NAV 34.86 -0.45 -1.27
MOP 36.99 -0.47 -1.25
52-Week High & Low at NAV ($)
High (05/21/2013) 35.52
Low (06/25/2012) 28.03
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

How has the Fund Performed?

Average Annual Returns

(as of 05/31/2013)
  YTD (%) 1-YR (%) 3-YR (%) 5-YR (%) 10-YR (%) Since
Inception (%)
NAV
Lipper Category Avg. 14.88 26.83 15.17 4.37 7.02    -
Index 15.48 27.62 16.92 5.57 7.96 9.09
MOP 7.65 18.21 9.43 2.94 6.51 9.34
Expense Ratio Gross1.26% Net0.98%
  YTD (%) 1-YR (%) 3-YR (%) 5-YR (%) 10-YR (%) Since
Inception (%)
NAV 8.87 9.36 7.17 4.12 8.31 9.48
Lipper Category Avg. 10.30 12.93 10.81 4.77 7.98    -
Index 10.96 14.43 12.93 6.15 8.97 8.96
MOP 2.62 3.07 5.07 2.89 7.67 9.17
Expense Ratio Gross1.26% Net0.98%
The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

Why This Fund?

Role in Portfolio

A core holding that provides investors with a portfolio with the ability to pursue investment opportunities across a wide spectrum of large cap equities and the flexibility to tilt toward investments that may be favorable in the anticipated market environment.

Key Advantages

Experience
Provides investors with exposure to an experienced investment team.

Flexibility
Provides investors with an actively managed large cap fund that pursues investment reward across a wide spectrum of large cap equities, and the flexibility to tilt its style focus in anticipation of the market environment.

The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies and/or sectors in the economy.

How is the Fund Currently Positioned?

(as of 03/29/2013)
  • We expect that the U.S. economy will continue to expand in the coming year, supported by the improving U.S. housing market and strengthening employment trends. We remain aware of several risk factors, including the possible negative impact of sequestration and continued uncertainty in Europe and China.
  • The materials sector is the largest overweight position relative to the portfolio's benchmark, the Russell 1000® Index, with an emphasis on producers of chemicals. Our agriculture-related holdings in this sector should see increased demand following last year's drought.
  • The portfolio is also overweight in the information technology sector. Within this sector, we have an overweight position in one of the largest smartphone and tablet computer producers.
  • The consumer discretionary sector is underweight, although within this sector we are overweight select gaming, hotel, and leisure names.
  • The portfolio continues to be underweight the traditionally defensive utilities and consumer staples sectors, as valuations within these groups are elevated and we continue to find better opportunities elsewhere.
The Fund's portfolio is actively managed and may change significantly over time.

RELATED CONTENT

How is the Fund Managed?
Team Leaders
Walter H. Prahl, Ph.D.
Partner
Years Experience:  28
Rick J. Ruvkun
Partner
Years Experience:  31
Supported By
19 Investment Professionals
18 Years Avg. Industry Experience
Years experience refers to industry experience.