|
|
| Use these links to jump to a section further down the page. |
Fund Description
Seeks long-term growth of capital and income consistent with reasonable risk by investing in domestic and foreign securities.
top of page ^
Fund Advantages
- Allows investors the opportunity to increase their exposure to world-class companies both at home and abroad.
- Offers a convenient way to gain exposure to companies in three main geographic regions: North America, Europe and the Pacific Rim.
- Focuses on investing in the leading companies of developed nations.
top of page ^
|
Fund Returns
|
|
As of August 31, 2010
|
All returns in percentages
|
| Class |
Last
Quarter
06/30/2010
|
Year
to Date
|
1
Year
|
3
Year
|
5
Year
|
10 Years
or Life
of Fund
|
|
A
|
NAV
|
-10.36
|
-7.49
|
12.69
|
-6.53
|
3.14
|
-0.35
|
| |
Inception date: September 30, 1988
|
|
B
|
NAV
|
-10.47
|
-7.75
|
12.10
|
-7.10
|
2.49
|
-0.87
|
| |
Inception date: August 01, 1996
|
|
C
|
NAV
|
-10.45
|
-7.74
|
12.07
|
-7.09
|
2.51
|
-0.99
|
| |
Inception date: August 01, 1996
|
|
Past performance is no guarantee of future results. Investment returns and principal will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. All returns assume the reinvestment of all distributions.
|
top of page ^
|
SEC Returns
|
|
As of June 30, 2010
|
All returns in percentages
|
|
Class
|
|
1
Year
|
5
Year
|
10 Years
or Life
of Fund
|
|
A
|
SEC (A)
|
6.18
|
1.92
|
-0.94
|
|
|
Inception date: September 30, 1988
|
|
B
|
SEC (B)
|
8.10
|
2.35
|
-0.87
|
|
|
Inception date: August 01, 1996
|
|
C
|
SEC (C)
|
12.07
|
2.51
|
-0.99
|
|
|
Inception date: August 01, 1996
|
(A) SEC Returns reflect performance at the maximum 5.75% sales charge applicable to Class A share investments as of 06/30/2010.
(B) A maximum Contingent Deferred Sales Charge (CDSC) of 5% is applied to shares sold prior to the 6th anniversary of purchase. There are also ongoing 12b-1 service and distribution fees. Class B shares automatically convert to class A shares after 8 years.
(C) Class C shares are subject to ongoing 12b-1 service and distribution fees as well as a maximum Contingent Deferred Sales Charge (CDSC) of 1% if you redeem your shares before the first anniversary of your original purchase.
Past performance is no guarantee of future results. Investment returns and principal will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. All returns assume the reinvestment of all distributions.
|
top of page ^
|
Rank
|
Fund
|
Percentage of Portfolio
|
The Fund's portfolio is actively managed and may change significantly over time.
|
Class
|
Record
Date
|
Ex Div
Date
|
Invest
Date
|
Payable
Date
|
Reinvest
Price
|
Dividend
|
|
A
|
06-29-2010
|
06-30-2010
|
06-30-2010
|
06-30-2010
|
9.64
|
.06830
|
|
B
|
06-29-2010
|
06-30-2010
|
06-30-2010
|
06-30-2010
|
8.96
|
.04710
|
|
B2
|
06-29-2010
|
06-30-2010
|
06-30-2010
|
06-30-2010
|
9.75
|
.06150
|
|
B3
|
06-29-2010
|
06-30-2010
|
06-30-2010
|
06-30-2010
|
9.69
|
.06420
|
|
BF
|
06-29-2010
|
06-30-2010
|
06-30-2010
|
06-30-2010
|
9.64
|
.07510
|
|
C
|
06-29-2010
|
06-30-2010
|
06-30-2010
|
06-30-2010
|
8.98
|
.04710
|
|
F
|
06-29-2010
|
06-30-2010
|
06-30-2010
|
06-30-2010
|
9.64
|
.07510
|
|
I
|
06-29-2010
|
06-30-2010
|
06-30-2010
|
06-30-2010
|
9.68
|
.07780
|
|
R2
|
06-29-2010
|
06-30-2010
|
06-30-2010
|
06-30-2010
|
9.75
|
.06150
|
|
R3
|
06-29-2010
|
06-30-2010
|
06-30-2010
|
06-30-2010
|
9.69
|
.06420
|
top of page ^
|
Fund Status
|
Open to New Investors
|
|
Dividend Frequency
|
Quarterly
|
|
Number of Issues
|
10
|
|
Class
|
Inception
|
Quotron
|
CUSIP
|
Outstanding
Shares
|
|
A
|
September 30, 1988
|
LAGEX
|
543908107
|
8,805,182
|
|
B
|
August 01, 1996
|
LAGBX
|
543908305
|
1,086,048
|
|
C
|
August 01, 1996
|
LAGCX
|
543908404
|
2,251,017
|
|
F
|
September 28, 2007
|
LAGFX
|
543908818
|
113,330
|
|
I
|
October 19, 2004
|
LGEYX
|
543908883
|
722,831
|
|
R2
|
June 30, 2008
|
LAGQX
|
543908792
|
918
|
|
R3
|
June 30, 2008
|
LARRX
|
543908784
|
150,368
|
top of page ^
Investment Team
top of page ^
Porfolio Commentary
As of June 30, 2010
Market Review
Among the primary factors that influenced the market in the second quarter were the European sovereign debt crisis, slowing growth in China, and concerns about the strength of the U.S. economic recovery. In response to these, both domestic and foreign investors shifted away from stocks and toward assets perceived as less risky, such as U.S. Treasuries.1
After the economy posted 3% growth in the first quarter, the expansion showed signs of moderating. Consumer spending, for example, flattened in April after six consecutive months of improvement. In May, retail sales declined 1.7%. Inflation remained subdued, but the unemployment rate stayed between 9.5% and 10.0%. The Federal Reserve kept the fed funds target rate between 0% and 0.25%, explaining that conditions were likely to warrant low rates for an "extended period."
The S&P 500® Index2 reached a 2010 high of 1,217.28 on April 26, but then fell more than 100 points in May, largely due to concerns that the debt crisis in Greece could spread to the rest of Europe and threaten the monetary union. For the quarter, the index lost 11.4%. Declines occurred across all 10 major sectors, but defensive sectors, including telecommunication services and utilities, outperformed the broader market. Value stocks slightly outperformed growth stocks during the period, and small caps outperformed large caps.
Fund Review
The Global Allocation Fund uses a fund-of-funds approach, which currently divides assets among the Lord Abbett International Dividend Income Fund, approximately 29.6% of the Global Allocation Fund's portfolio; Lord Abbett High Yield Fund, approximately 15.7%; Lord Abbett Developing Local Markets Fund, approximately 12.5%; Lord Abbett International Opportunities Fund, approximately 8.0%; Lord Abbett Growth Opportunities Fund, approximately 7.3%; Lord Abbett Fundamental Equity Fund (formerly All Value Fund), approximately 7.2%; Lord Abbett Classic Stock Fund (formerly Large Cap Core Fund), approximately 7.2%; Lord Abbett Affiliated Fund, approximately 5.2%; Lord Abbett International Core Equity Fund, approximately 4.9%; and Lord Abbett Floating Rate Fund, approximately 2.2%. (The Fund's portfolio is actively managed and, therefore, its percentage allocation may change from time to time. Fund allocations may not total 100% due to rounding.) The Global Allocation Fund returned -10.36%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, for the three-month period ended June 30, 2010, compared to its benchmark, the MSCI World® Index with Gross Dividends,3 which returned -12.49%. The Fund's average annual total returns, which reflect performance at the maximum 5.75% sales charge applicable to Class A share investments and include the reinvestment of all distributions, as of June 30, 2010, are: 1 year: 6.18%, 5 years: 1.92%, and 10 years: -0.94%. Expense ratio: gross, 2.15%, and net, 1.33%.
Performance data quoted represent past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data 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 month end, call Lord Abbett at 888-522-2388 or visit us at in performance data current to the most recent month end, call Lord Abbett at 888-522-2388 or refer to www.lordabbett.com.
In the challenging negative market, the Global Allocation Fund outperformed its benchmark during the second quarter of 2010.
The Fund benefited from overweight positions within high yield, as well as within international equities. The returns in these areas were generally more favorable than those from the benchmark. Also, the underweight position within domestic equities aided relative performance, as the benchmark returns in this area were more favorable than those from the portfolio holdings.
The Fund's portfolio is actively managed and, therefore, its holdings and the weightings of a particular issuer or a particular sector as a percentage of portfolio assets are subject to change. Sectors may include many industries.
Effective July 1, 2008, Lord Abbett Global Allocation Fund (formerly known as the Global Equity Fund) adopted its new investment objective of total return and implemented its new investment strategy as part of the Funds conversion to a fund-of-funds approach.
Note: 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 average annual total returns. If these charges were included, performance would be lower. Please refer to the prospectus for more information on redemptions that may be subject to a CDSC.
1Treasuries are debt securities issued by the U.S. government and secured by its full faith and credit. Income from Treasury securities is exempt from state and local taxes. Although U.S. government securities are guaranteed as to payments of interest and principal, their market prices are not guaranteed and will fluctuate in response to market movements.
2The S&P 500® Index is widely regarded as the standard for measuring large cap U.S. stock market performance and includes a representative sample of leading companies in leading industries.
3The MSCI World® Index is a free float-adjusted market capitalization index that is designed to measure global developed market equity performance. As of June 2006, the MSCI World Index consisted of the following 23 developed market country indexes: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. The MSCI World Index with Gross Dividends assumes reinvestment of all dividends and distributions.
The net expense ratio takes into account a contractual management fee waiver agreement through March 31, 2011, without which performance would have been lower.
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.
Instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.
A Note about Risk: 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. 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. Investments in small and/or mid-sized company stocks typically involve greater risk, particularly in the short term, than those in larger, more established companies. Foreign securities may pose greater risks than domestic securities, including greater price fluctuation, less government regulation, and higher transaction costs. Foreign investments also may be affected by changes in currency rates or currency controls.
The views and information discussed in this commentary are as of June 30, 2010, are subject to change, and may not reflect the views of the firm as a whole. The views expressed in market commentaries are at a specific point in time, are opinions only, and should not be relied upon as a forecast, research, or investment advice regarding a particular investment or the markets in general. Information discussed should not be considered a recommendation to purchase or sell securities.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Lord Abbett Funds. This and other important information is contained in the Fund's summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional, Lord Abbett Distributor LLC at (888) 522-2388 or visit us at www.lordabbett.com. Read the prospectus carefully before you invest.
top of page ^
Prospectus
You agree to receive the following
prospectus electronically and to read and agree to its terms before investing or sending money. It contains detailed information about the fund's investment policies, risks, charges and expenses. If you would like a reprinted copy of the prospectus, please contact your local Edward Jones investment representative.
The following prospectus is not an offer to sell, or a solicitation of an offer to buy shares in the fund nor shall any such shares be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction.
top of page ^
|
