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Growth Opportunities Fund (LMGAX) - Class A

Fund Finder

What is the Growth Opportunities Fund?

Goal & Strategy

The goal of this Fund is long-term growth of capital through investing in stocks of mid-sized U.S. companies. This Fund seeks companies with strong relative growth prospects that we believe are well positioned to prosper in the anticipated economic environment.

Fund Basics

 
Ticker LMGAX
CUSIP 54400R103
Fund Number 260
Inception Date 08/01/1995
YTD Returns at NAV (as of 05/21/2013) 18.48%
Dividend Frequency Annually
Expense Ratio (as of 04/30/2013)
Gross 1.42%
Net 1.40%
Total Net Assets (as of 04/30/2013) $583.54 M
Number of Holdings (as of 04/30/2013) 111
Minimum Initial Investment $1,000
Maximum Offering Price (MOP) - Returns with sales charges reflect a maximum sales charge of 5.75%.
Price(as of 05/21/2013)
  Price ($) Change ($) Change (%)
NAV 23.08 0.07 0.30
MOP 24.49 0.08 0.33
52-Week High & Low at NAV ($)
High (05/21/2013) 23.08
Low (06/04/2012) 17.64

How has the Fund Performed?

Average Annual Returns

(as of 04/30/2013)
  YTD (%) 1-YR (%) 3-YR (%) 5-YR (%) 10-YR (%) Since
Inception (%)
NAV
Lipper Category Avg. 11.21 10.51 11.55 5.39 9.63    -
Index 13.15 14.42 13.68 6.79 10.96 8.43
MOP 5.18 1.99 6.36 4.97 8.56 9.06
Expense Ratio Gross1.42% Net1.40%
  YTD (%) 1-YR (%) 3-YR (%) 5-YR (%) 10-YR (%) Since
Inception (%)
NAV 11.24 8.37 9.59 7.61 9.79 9.45
Lipper Category Avg. 10.80 9.67 12.70 6.76 10.28    -
Index 11.51 12.76 14.23 7.98 11.53 8.39
MOP 4.84 2.14 7.46 6.34 9.15 9.08
Expense Ratio Gross1.42% Net1.40%
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 supporting player that provides investors with exposure to companies with strong relative growth prospects.

Key Advantages

Research
Provides investors with a balance of exposure to cyclical and stable growth companies that may be positioned to perform well in various market and economic environments.

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)
  • As U.S. indexes near new all-time highs, investors appear to be edging back into equity markets. The major question facing us now is whether this move will continue. If investors begin to feel comfortable enough with the environment to once again embrace equities, we could see further gains for the current bull market, which began in March 2009 and has recently passed its fourth-year anniversary.
  • Regardless of market conditions, we favor a balanced approach to growth. Currently, we are marginally tilting toward cyclically-oriented companies that should benefit from continued slow improvement in the U.S. economy.
  • We increased our cyclical exposure within the industrials sector, adding to companies exposed to transportation and employment. Our active weight to the financials sector increased as well, as we rotated into asset managers anticipated to benefit from rising equity values. We also increased our exposure to the health care sector, adding selectively within health care technology and service provider names.
  • We trimmed holdings in the information technology sector, as an uncertain business environment caused companies to defer technology investment, although we are still overweight the sector relative to the benchmark Russell Midcap® Growth Index. We reduced exposure to the energy sector as well, trimming names that have rallied substantially since the fourth quarter 2012.
The Fund's portfolio is actively managed and may change significantly over time.

RELATED CONTENT

How is the Fund Managed?
Team Leader
Paul J. Volovich, CFA
Partner
Years Experience:  19
Supported By
19 Investment Professionals
18 Years Avg. Industry Experience
Years experience refers to industry experience.