Growth & Income Strategy Fund (LWSAX) - 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.

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 Lord Abbett Growth & Income Strategy 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. Because the Fund will be more heavily invested in equity funds than fixed-income funds, it will be more affected by the risks associated with stocks and other equity investments. Stocks are subject to greater risk and market volatility, while bonds are subject to greater risks of default and interest-rate volatility. 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 principal. International markets may be less liquid and can be more volatile than U.S. markets. Foreign investing, especially in developing countries, carries additional risks, such as currency and market volatility and political and social instability. The value of the underlying funds' investments and the net asset values of the shares of both the Fund and 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. These factors can affect Fund performance.

Unless otherwise specified, indexes reflect total return, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

The primary index is the 55% Russell 1000 Total Return Index, 20% Barclays U.S. Aggregate Bond Index, 15% MSCI EAFE Index with Gross Dividends and 10% BofA Merrill Lynch High Yield Master II Constrained Index.

The Blended Index consists of the following components: 55% Russell 1000^® Index, 20% Barclays U.S. Aggregate Bond Index, 15% MSCI EAFE Index with Gross Dividends and 10% BofA Merrill Lynch High Yield Master II Constrained Index. Index is unmanaged, does not reflect the deduction of fees or expenses; and is not available for direct investment.

The Russell 1000^® Index measures the performance of the 1,000 largest companies in the Russell 3000 Index, which represents approximately 90% of the total market capitalization of the Russell 3000 Index.

The Barclays U.S. Aggregate Bond Index is an unmanaged index composed of securities from the Barclays Government/Corporate Bond Index, Mortgage-Backed Securities Index and the Asset-Backed Securities Index. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. Indexes are rebalanced monthly by market capitalization.

The BofA Merrill Lynch High Yield Master II Constrained Index is a market value-weighted index of all domestic and Yankee high-yield bonds, including deferred interest bonds and payment–in-kind securities.  Issues included in the index have maturities of one year or more and have a credit rating lower than BB-/Baa3, but are not in default.  The BofA Merrill Lynch U.S. High Yield Master II Constrained Index limits any individual issuer to a maximum of 2% benchmark exposure.

The MSCI EAFE Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the US & Canada. The MSCI EAFE Index consists of the following 22 developed market country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. The MSCI EAFE Index with Gross Dividends approximates the maximum possible dividend reinvestment. The amount reinvested is the entire dividend distributed to individuals resident in the country of the company, but does not include tax credits. The MSCI EAFE Index with Net Dividends approximates the minimum possible dividend reinvestment. The dividend is reinvested after deduction of withholding tax, applying the rate to non-resident individuals who do not benefit from double taxation treaties. MSCI uses withholding tax rates applicable to Luxembourg holding companies, as Luxembourg applies the highest rates. 

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.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

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.